IUVD.L vs. USVL.L
IUVD.L (iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist)) and USVL.L (State Street SPDR MSCI USA Value UCITS ETF USD (Acc)) are both Large Cap Value Equities funds - IUVD.L tracks the Russell 1000 Value TR USD while USVL.L tracks the MSCI USA Value Exposure Select Index. Both are passively managed. Over the past 5 years, IUVD.L returned 15.56%/yr vs 12.22%/yr for USVL.L. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.
Performance
IUVD.L vs. USVL.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IUVD.L achieves a 39.02% return, which is significantly higher than USVL.L's 24.47% return.
IUVD.L
- 1D
- -0.09%
- 1M
- -4.80%
- 6M
- 32.62%
- YTD
- 39.02%
- 1Y
- 70.29%
- 3Y*
- 28.49%
- 5Y*
- 15.56%
- 10Y*
- —
USVL.L
- 1D
- 0.16%
- 1M
- -2.10%
- 6M
- 20.13%
- YTD
- 24.47%
- 1Y
- 49.93%
- 3Y*
- 22.22%
- 5Y*
- 12.22%
- 10Y*
- 12.16%
IUVD.L vs. USVL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IUVD.L iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist) | 39.02% | 32.95% | 6.42% | 14.65% | -14.91% | 29.73% | -1.42% | 25.64% | -11.20% |
USVL.L State Street SPDR MSCI USA Value UCITS ETF USD (Acc) | 24.47% | 28.52% | 4.90% | 15.93% | -15.04% | 29.87% | 1.93% | 26.43% | -10.10% |
Correlation
The correlation between IUVD.L and USVL.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2018 | 0.94 |
The correlation between IUVD.L and USVL.L has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IUVD.L vs. USVL.L — Risk / Return Rank
IUVD.L
USVL.L
IUVD.L vs. USVL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist) (IUVD.L) and State Street SPDR MSCI USA Value UCITS ETF USD (Acc) (USVL.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IUVD.L | USVL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.56 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 8.47 | 6.42 | +2.06 |
| Martin ratioReturn relative to average drawdown | 28.96 | 19.17 | +9.78 |
Loading charts...
Drawdowns
IUVD.L vs. USVL.L - Drawdown Comparison
The maximum IUVD.L drawdown since its inception was -39.64%, roughly equal to the maximum USVL.L drawdown of -40.24%. Use the drawdown chart below to compare losses from any high point for IUVD.L and USVL.L.
Loading charts...
Drawdown Indicators
| IUVD.L | USVL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.64% | -40.24% | +0.60% |
Max Drawdown (1Y)Largest decline over 1 year | -8.25% | -7.74% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -18.72% | -19.59% | +0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -26.67% | -25.55% | -1.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.24% | — |
Current DrawdownCurrent decline from peak | -6.82% | -5.24% | -1.58% |
Average DrawdownAverage peak-to-trough decline | -8.04% | -6.34% | -1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 2.60% | -0.18% |
Volatility
IUVD.L vs. USVL.L - Volatility Comparison
iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist) (IUVD.L) has a higher volatility of 7.79% compared to State Street SPDR MSCI USA Value UCITS ETF USD (Acc) (USVL.L) at 3.96%. This indicates that IUVD.L's price experiences larger fluctuations and is considered to be riskier than USVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IUVD.L | USVL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.79% | 3.96% | +3.83% |
Volatility (6M)Calculated over the trailing 6-month period | 16.18% | 12.24% | +3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.61% | 15.29% | +3.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.12% | 17.45% | +0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.96% | 18.17% | +1.79% |
IUVD.L vs. USVL.L - Expense Ratio Comparison
Both IUVD.L and USVL.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IUVD.L vs. USVL.L - Dividend Comparison
IUVD.L's dividend yield for the trailing twelve months is around 1.20%, while USVL.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IUVD.L iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist) | 1.20% | 1.64% | 2.24% | 2.27% | 2.61% | 1.84% | 2.26% | 2.26% | 1.73% |
USVL.L State Street SPDR MSCI USA Value UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, IUVD.L and USVL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IUVD.L and USVL.L have the same expense ratio: 0.20% per year.
IUVD.L tracks Russell 1000 Value TR USD, while USVL.L tracks MSCI USA Value Exposure Select Index. They also come from different issuers: iShares and State Street.
Find the right allocation for IUVD.L and USVL.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer