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

IUVF.L vs. UVAL.L

Last updated Jun 5, 2026

IUVF.L (iShares Edge MSCI USA Value Factor UCITS) and UVAL.L (SPDR MSCI USA Value Weighted UCITS ETF) are both Large Cap Value Equities funds tracking the Russell 1000 Value TR USD, from iShares and State Street respectively. Both are passively managed. Over the past 5 years, IUVF.L returned 16.97%/yr vs 13.72%/yr for UVAL.L. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

IUVF.L vs. UVAL.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 MSCI USA Value Weighted UCITS ETF (UVAL.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 UVAL.L is traded in GBP. To make them comparable, the UVAL.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 UVAL.L's 30.75% 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*
—

UVAL.L

1D
-0.32%
1M
15.38%
YTD
30.75%
6M
33.50%
1Y
66.09%
3Y*
23.43%
5Y*
13.72%
10Y*
13.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUVF.L vs. UVAL.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%
UVAL.L
SPDR MSCI USA Value Weighted UCITS ETF		30.75%19.90%6.56%9.53%-4.90%31.55%-1.54%22.51%-7.42%8.19%

Correlation

The correlation between IUVF.L and UVAL.L is 0.94, 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

0.94

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

0.96

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

0.97

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

0.93

The correlation between IUVF.L and UVAL.L has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

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

Sectors
IUVF.L
UVAL.L

Technology

50.9%
41.0%

Financial Services

9.1%
11.6%

Healthcare

7.9%
9.1%

Consumer Cyclical

7.6%
8.9%

Communication Services

7.2%
9.0%

Industrials

6.4%
6.8%

Consumer Defensive

3.6%
4.3%

Energy

2.7%
3.6%

Utilities

1.7%
2.1%

Real Estate

1.6%
1.8%

Basic Materials

1.4%
1.8%

Technology

IUVF.L
50.9%
UVAL.L
41.0%

Financial Services

IUVF.L
9.1%
UVAL.L
11.6%

Healthcare

IUVF.L
7.9%
UVAL.L
9.1%

Consumer Cyclical

IUVF.L
7.6%
UVAL.L
8.9%

Communication Services

IUVF.L
7.2%
UVAL.L
9.0%

Industrials

IUVF.L
6.4%
UVAL.L
6.8%

Consumer Defensive

IUVF.L
3.6%
UVAL.L
4.3%

Energy

IUVF.L
2.7%
UVAL.L
3.6%

Utilities

IUVF.L
1.7%
UVAL.L
2.1%

Real Estate

IUVF.L
1.6%
UVAL.L
1.8%

Basic Materials

IUVF.L
1.4%
UVAL.L
1.8%

Compare stocks, funds, or ETFs

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iShares Edge MSCI USA Value Factor UCITS

SPDR MSCI USA Value Weighted 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 UVAL.L:
UVAL.L vs. IUVD.LUVAL.L vs. IUVL.LUVAL.L vs. IUSVUVAL.L vs. UC07.LUVAL.L vs. USLV.LUVAL.L vs. UC96.LUVAL.L vs. ACWD.L

Return for Risk

IUVF.L vs. UVAL.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
UVAL.L
UVAL.L Risk / Return Rank: 9797
Overall Rank
UVAL.L Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
UVAL.L Sortino Ratio Rank: 9797
Sortino Ratio Rank
UVAL.L Omega Ratio Rank: 9797
Omega Ratio Rank
UVAL.L Calmar Ratio Rank: 9797
Calmar Ratio Rank
UVAL.L Martin Ratio Rank: 9797
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. UVAL.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 MSCI USA Value Weighted UCITS ETF (UVAL.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.LUVAL.LDifference
Sharpe ratioReturn per unit of total volatility
5.93
4.88

+1.05

Sortino ratioReturn per unit of downside risk
7.82
6.68

+1.15

Omega ratioGain probability vs. loss probability

2.05

1.86

+0.18

Calmar ratioReturn relative to maximum drawdown

15.82

11.89

+3.92

Martin ratioReturn relative to average drawdown

61.43

42.16

+19.27

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. UVAL.L - Sharpe Ratio Comparison

The current IUVF.L Sharpe Ratio is 5.93, which is comparable to the UVAL.L Sharpe Ratio of 4.88. The chart below compares the historical Sharpe Ratios of IUVF.L and UVAL.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.LUVAL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

5.93

4.88

+1.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.06

0.89

+0.18

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.80

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.83

0.73

+0.09

Drawdowns

IUVF.L vs. UVAL.L - Drawdown Comparison

The maximum IUVF.L drawdown since its inception was -31.83%, roughly equal to the maximum UVAL.L drawdown of -32.55%. Use the drawdown chart below to compare losses from any high point for IUVF.L and UVAL.L.

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Drawdown Indicators

IUVF.LUVAL.LDifference

Max Drawdown

Largest peak-to-trough decline

-31.83%

-32.55%

+0.72%

Max Drawdown (1Y)

Largest decline over 1 year

-5.71%

-5.53%

-0.18%

Max Drawdown (3Y)

Largest decline over 3 years

-20.13%

-21.03%

+0.90%

Max Drawdown (5Y)

Largest decline over 5 years

-20.13%

-21.03%

+0.90%

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.55%

—

Current Drawdown

Current decline from peak

-0.97%

-0.36%

-0.61%

Average Drawdown

Average peak-to-trough decline

-5.67%

-5.12%

-0.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.47%

1.56%

-0.09%

Volatility

IUVF.L vs. UVAL.L - Volatility Comparison

iShares Edge MSCI USA Value Factor UCITS (IUVF.L) has a higher volatility of 6.56% compared to SPDR MSCI USA Value Weighted UCITS ETF (UVAL.L) at 5.41%. This indicates that IUVF.L's price experiences larger fluctuations and is considered to be riskier than UVAL.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.LUVAL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.56%

5.41%

+1.15%

Volatility (6M)

Calculated over the trailing 6-month period

12.10%

9.97%

+2.13%

Volatility (1Y)

Calculated over the trailing 1-year period

15.24%

13.47%

+1.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.94%

15.49%

+0.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.43%

17.34%

+1.09%

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

Both IUVF.L and UVAL.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

IUVF.L vs. UVAL.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.94, IUVF.L and UVAL.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.

IUVF.L and UVAL.L have the same expense ratio: 0.20% per year.

Both ETFs track Russell 1000 Value TR USD. They also come from different issuers: iShares and State Street.

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