IWVU.L vs. UVAL.L
IWVU.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)) and UVAL.L (SPDR MSCI USA Value Weighted UCITS ETF) are both Large Cap Value Equities funds - IWVU.L tracks the MSCI World Enhanced Value Index (Net) while UVAL.L tracks the Russell 1000 Value TR USD. Both are passively managed. Over the past 5 years, IWVU.L returned 16.21%/yr vs 12.27%/yr for UVAL.L. Their correlation of 0.80 suggests significant overlap in exposure. IWVU.L charges 0.25%/yr vs 0.20%/yr for UVAL.L.
Performance
IWVU.L vs. UVAL.L - Performance Comparison
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Different Trading Currencies
IWVU.L is traded in USD, while UVAL.L is traded in GBP. To make them comparable, the UVAL.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IWVU.L achieves a 27.54% return, which is significantly higher than UVAL.L's 24.48% return.
IWVU.L
- 1D
- -0.32%
- 1M
- -4.79%
- 6M
- 23.40%
- YTD
- 27.54%
- 1Y
- 54.31%
- 3Y*
- 25.62%
- 5Y*
- 16.21%
- 10Y*
- —
UVAL.L
- 1D
- 0.25%
- 1M
- -1.26%
- 6M
- 20.26%
- YTD
- 24.48%
- 1Y
- 50.25%
- 3Y*
- 22.31%
- 5Y*
- 12.27%
- 10Y*
- 12.19%
IWVU.L vs. UVAL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IWVU.L iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) | 27.54% | 40.59% | 4.85% | 19.74% | -9.88% | 20.13% | -3.59% | 18.01% | -15.78% |
UVAL.L SPDR MSCI USA Value Weighted UCITS ETF | 24.48% | 28.95% | 4.78% | 15.31% | -15.06% | 30.35% | 1.47% | 27.42% | -12.65% |
Correlation
The correlation between IWVU.L and UVAL.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2018 | 0.80 |
The correlation between IWVU.L and UVAL.L has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.
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Return for Risk
IWVU.L vs. UVAL.L — Risk / Return Rank
IWVU.L
UVAL.L
IWVU.L vs. UVAL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVU.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.
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.
| IWVU.L | UVAL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.59 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 6.31 | 6.71 | -0.40 |
| Martin ratioReturn relative to average drawdown | 21.28 | 20.07 | +1.21 |
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Drawdowns
IWVU.L vs. UVAL.L - Drawdown Comparison
The maximum IWVU.L drawdown since its inception was -36.21%, smaller than the maximum UVAL.L drawdown of -45.37%. Use the drawdown chart below to compare losses from any high point for IWVU.L and UVAL.L.
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Drawdown Indicators
| IWVU.L | UVAL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.21% | -45.37% | +9.16% |
Max Drawdown (1Y)Largest decline over 1 year | -8.56% | -7.45% | -1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -14.45% | -19.48% | +5.03% |
Max Drawdown (5Y)Largest decline over 5 years | -26.58% | -25.73% | -0.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.10% | — |
Current DrawdownCurrent decline from peak | -5.83% | -5.21% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -6.67% | -15.71% | +9.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 2.50% | +0.04% |
Volatility
IWVU.L vs. UVAL.L - Volatility Comparison
iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVU.L) has a higher volatility of 6.28% compared to SPDR MSCI USA Value Weighted UCITS ETF (UVAL.L) at 3.80%. This indicates that IWVU.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
| IWVU.L | UVAL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.28% | 3.80% | +2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 14.95% | 11.54% | +3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.06% | 14.68% | +2.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.30% | 21.74% | -5.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.90% | 23.10% | -5.20% |
IWVU.L vs. UVAL.L - Expense Ratio Comparison
IWVU.L has a 0.25% expense ratio, which is higher than UVAL.L's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IWVU.L vs. UVAL.L - Dividend Comparison
IWVU.L's dividend yield for the trailing twelve months is around 1.93%, while UVAL.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IWVU.L iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) | 1.93% | 2.50% | 3.17% | 3.23% | 3.17% | 2.63% | 2.25% | 2.83% | 2.51% |
UVAL.L SPDR MSCI USA Value Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IWVU.L and UVAL.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UVAL.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UVAL.L is cheaper with a 0.20% expense ratio, compared with 0.25% for IWVU.L.
IWVU.L tracks MSCI World Enhanced Value Index (Net), while UVAL.L tracks Russell 1000 Value TR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for IWVU.L and 0.20% for UVAL.L.
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