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IUVF.L vs. USLV.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUVF.L vs. USLV.L

Last updated Jun 5, 2026

IUVF.L (iShares Edge MSCI USA Value Factor UCITS) and USLV.L (SPDR S&P 500 Low Volatility UCITS ETF) are both exchange-traded funds - IUVF.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD, while USLV.L is a S&P 500 fund tracking the S&P 500 Low Volatility Index. Both are passively managed. Over the past 5 years, IUVF.L returned 16.97%/yr vs 6.11%/yr for USLV.L. A 0.53 correlation means they provide meaningful diversification when combined. IUVF.L charges 0.20%/yr vs 0.35%/yr for USLV.L.

Performance

IUVF.L vs. USLV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI USA Value Factor UCITS (IUVF.L) and SPDR S&P 500 Low Volatility UCITS ETF (USLV.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IUVF.L is traded in GBp, while USLV.L is traded in GBP. To make them comparable, the USLV.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IUVF.L achieves a 46.62% return, which is significantly higher than USLV.L's 1.11% return.

IUVF.L

1D
-0.97%
1M
16.86%
YTD
46.62%
6M
49.54%
1Y
90.82%
3Y*
29.97%
5Y*
16.97%
10Y*
—

USLV.L

1D
-0.07%
1M
-1.11%
YTD
1.11%
6M
0.76%
1Y
1.27%
3Y*
4.40%
5Y*
6.11%
10Y*
8.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUVF.L vs. USLV.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IUVF.L
iShares Edge MSCI USA Value Factor UCITS		46.62%23.92%8.23%8.28%-4.63%31.29%-5.36%22.90%-7.17%10.45%
USLV.L
SPDR S&P 500 Low Volatility UCITS ETF		1.11%-2.67%15.49%-6.05%6.92%26.04%-5.76%22.99%4.45%6.15%

Correlation

The correlation between IUVF.L and USLV.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.11

Correlation (3Y)
Calculated over the trailing 3-year period

0.41

Correlation (5Y)
Calculated over the trailing 5-year period

0.49

Correlation (All Time)
Calculated using the full available price history since Nov 3, 2016

0.53

Over the past year, the correlation between IUVF.L and USLV.L has dropped to 0.11 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.

IUVF.L vs. USLV.L - Sectors Allocation Comparison

Sectors
IUVF.L
USLV.L

Technology

50.9%
4.6%

Financial Services

9.1%
16.6%

Healthcare

7.9%
6.8%

Consumer Cyclical

7.6%
5.7%

Communication Services

7.2%
0.9%

Industrials

6.4%
10.2%

Consumer Defensive

3.6%
10.8%

Energy

2.7%
0.9%

Utilities

1.7%
26.8%

Real Estate

1.6%
14.8%

Basic Materials

1.4%
2.0%

Technology

IUVF.L
50.9%
USLV.L
4.6%

Financial Services

IUVF.L
9.1%
USLV.L
16.6%

Healthcare

IUVF.L
7.9%
USLV.L
6.8%

Consumer Cyclical

IUVF.L
7.6%
USLV.L
5.7%

Communication Services

IUVF.L
7.2%
USLV.L
0.9%

Industrials

IUVF.L
6.4%
USLV.L
10.2%

Consumer Defensive

IUVF.L
3.6%
USLV.L
10.8%

Energy

IUVF.L
2.7%
USLV.L
0.9%

Utilities

IUVF.L
1.7%
USLV.L
26.8%

Real Estate

IUVF.L
1.6%
USLV.L
14.8%

Basic Materials

IUVF.L
1.4%
USLV.L
2.0%

Compare stocks, funds, or ETFs

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iShares Edge MSCI USA Value Factor UCITS

SPDR S&P 500 Low Volatility UCITS ETF

Often compared with IUVF.L:
IUVF.L vs. VTVIUVF.L vs. VLUEIUVF.L vs. VIVAXIUVF.L vs. EWSP.LIUVF.L vs. JREG.LIUVF.L vs. JREU.LIUVF.L vs. URTH
Often compared with USLV.L:
USLV.L vs. BRK-BUSLV.L vs. SCHDUSLV.L vs. SPYUSLV.L vs. VOOUSLV.L vs. IUIT.LUSLV.L vs. SCHXUSLV.L vs. ^SP500TR

Return for Risk

IUVF.L vs. USLV.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUVF.L
IUVF.L Risk / Return Rank: 9898
Overall Rank
IUVF.L Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
IUVF.L Sortino Ratio Rank: 9898
Sortino Ratio Rank
IUVF.L Omega Ratio Rank: 9898
Omega Ratio Rank
IUVF.L Calmar Ratio Rank: 9898
Calmar Ratio Rank
IUVF.L Martin Ratio Rank: 9898
Martin Ratio Rank
USLV.L
USLV.L Risk / Return Rank: 1111
Overall Rank
USLV.L Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
USLV.L Sortino Ratio Rank: 1010
Sortino Ratio Rank
USLV.L Omega Ratio Rank: 1010
Omega Ratio Rank
USLV.L Calmar Ratio Rank: 1111
Calmar Ratio Rank
USLV.L Martin Ratio Rank: 1111
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IUVF.L vs. USLV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Value Factor UCITS (IUVF.L) and SPDR S&P 500 Low Volatility UCITS ETF (USLV.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.

IUVF.LUSLV.LDifference
Sharpe ratioReturn per unit of total volatility
5.93
0.12

+5.80

Sortino ratioReturn per unit of downside risk
7.82
0.25

+7.57

Omega ratioGain probability vs. loss probability

2.05

1.03

+1.02

Calmar ratioReturn relative to maximum drawdown

15.82

0.16

+15.66

Martin ratioReturn relative to average drawdown

61.43

0.40

+61.03

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUVF.L vs. USLV.L - Sharpe Ratio Comparison

The current IUVF.L Sharpe Ratio is 5.93, which is higher than the USLV.L Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of IUVF.L and USLV.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IUVF.LUSLV.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

5.93

0.12

+5.80

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.06

0.50

+0.56

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.60

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.83

0.78

+0.05

Drawdowns

IUVF.L vs. USLV.L - Drawdown Comparison

The maximum IUVF.L drawdown since its inception was -31.83%, which is greater than USLV.L's maximum drawdown of -27.37%. Use the drawdown chart below to compare losses from any high point for IUVF.L and USLV.L.

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Drawdown Indicators

IUVF.LUSLV.LDifference

Max Drawdown

Largest peak-to-trough decline

-31.83%

-27.37%

-4.46%

Max Drawdown (1Y)

Largest decline over 1 year

-5.71%

-7.96%

+2.25%

Max Drawdown (3Y)

Largest decline over 3 years

-20.13%

-10.71%

-9.42%

Max Drawdown (5Y)

Largest decline over 5 years

-20.13%

-14.56%

-5.57%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.37%

—

Current Drawdown

Current decline from peak

-0.97%

-7.23%

+6.26%

Average Drawdown

Average peak-to-trough decline

-5.67%

-5.16%

-0.51%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.47%

3.13%

-1.66%

Volatility

IUVF.L vs. USLV.L - Volatility Comparison

iShares Edge MSCI USA Value Factor UCITS (IUVF.L) has a higher volatility of 6.56% compared to SPDR S&P 500 Low Volatility UCITS ETF (USLV.L) at 3.76%. This indicates that IUVF.L's price experiences larger fluctuations and is considered to be riskier than USLV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IUVF.LUSLV.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.56%

3.76%

+2.80%

Volatility (6M)

Calculated over the trailing 6-month period

12.10%

8.01%

+4.09%

Volatility (1Y)

Calculated over the trailing 1-year period

15.24%

10.34%

+4.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.94%

12.11%

+3.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.43%

14.00%

+4.43%

IUVF.L vs. USLV.L - Expense Ratio Comparison

IUVF.L has a 0.20% expense ratio, which is lower than USLV.L's 0.35% expense ratio.

Dividends

IUVF.L vs. USLV.L - Dividend Comparison

Neither IUVF.L nor USLV.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

IUVF.L and USLV.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IUVF.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IUVF.L is cheaper with a 0.20% expense ratio, compared with 0.35% for USLV.L.

IUVF.L is categorized as Large Cap Value Equities, while USLV.L is S&P 500. IUVF.L tracks Russell 1000 Value TR USD, while USLV.L tracks S&P 500 Low Volatility Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for IUVF.L and 0.35% for USLV.L.

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