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MVOL.L vs. SPMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MVOL.L vs. SPMV

Last updated Jun 5, 2026

MVOL.L (iShares Edge MSCI World Minimum Volatility UCITS) and SPMV (Invesco S&P 500 Minimum Variance ETF) are both exchange-traded funds - MVOL.L is a Global Equities fund tracking the MSCI ACWI NR USD, while SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index. Both are passively managed. At a 0.48 correlation, their price movements are largely independent. MVOL.L charges 0.35%/yr vs 0.10%/yr for SPMV.

Performance

MVOL.L vs. SPMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI World Minimum Volatility UCITS (MVOL.L) and Invesco S&P 500 Minimum Variance ETF (SPMV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

MVOL.L

1D
0.04%
1M
0.76%
YTD
0.67%
6M
1.44%
1Y
1.44%
3Y*
9.30%
5Y*
5.18%
10Y*
7.05%

SPMV

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MVOL.L vs. SPMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MVOL.L
iShares Edge MSCI World Minimum Volatility UCITS		0.67%11.02%11.08%7.28%-9.62%14.65%2.56%22.56%-2.40%5.86%
SPMV
Invesco S&P 500 Minimum Variance ETF		0.87%11.69%18.78%10.28%-10.84%24.35%8.57%32.13%-6.28%7.84%

Correlation

The correlation between MVOL.L and SPMV is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.39

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

0.43

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

0.48

Correlation (All Time)
Calculated using the full available price history since Aug 25, 2017

0.48

MVOL.L vs. SPMV - Sectors Allocation Comparison

Sectors
MVOL.L
SPMV

Technology

20.1%
26.9%

Financial Services

14.0%
17.8%

Healthcare

13.8%
15.0%

Communication Services

12.1%
6.5%

Consumer Defensive

10.9%
10.7%

Industrials

9.2%
6.0%

Utilities

8.0%
2.8%

Consumer Cyclical

5.6%
6.6%

Energy

4.5%
4.8%

Basic Materials

1.1%
2.6%

Real Estate

0.7%
0.2%

Technology

MVOL.L
20.1%
SPMV
26.9%

Financial Services

MVOL.L
14.0%
SPMV
17.8%

Healthcare

MVOL.L
13.8%
SPMV
15.0%

Communication Services

MVOL.L
12.1%
SPMV
6.5%

Consumer Defensive

MVOL.L
10.9%
SPMV
10.7%

Industrials

MVOL.L
9.2%
SPMV
6.0%

Utilities

MVOL.L
8.0%
SPMV
2.8%

Consumer Cyclical

MVOL.L
5.6%
SPMV
6.6%

Energy

MVOL.L
4.5%
SPMV
4.8%

Basic Materials

MVOL.L
1.1%
SPMV
2.6%

Real Estate

MVOL.L
0.7%
SPMV
0.2%

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iShares Edge MSCI World Minimum Volatility UCITS

Invesco S&P 500 Minimum Variance ETF

Often compared with MVOL.L:
MVOL.L vs. ACWVMVOL.L vs. IWDA.LMVOL.L vs. XDEB.DEMVOL.L vs. VOOMVOL.L vs. XDEM.LMVOL.L vs. USMVMVOL.L vs. SLXX.L
Often compared with SPMV:
SPMV vs. USMVSPMV vs. SPLVSPMV vs. SPYSPMV vs. QQQSPMV vs. FDVVSPMV vs. MGVSPMV vs. ^GSPC

Return for Risk

MVOL.L vs. SPMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MVOL.L
MVOL.L Risk / Return Rank: 1212
Overall Rank
MVOL.L Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
MVOL.L Sortino Ratio Rank: 1111
Sortino Ratio Rank
MVOL.L Omega Ratio Rank: 1111
Omega Ratio Rank
MVOL.L Calmar Ratio Rank: 1212
Calmar Ratio Rank
MVOL.L Martin Ratio Rank: 1212
Martin Ratio Rank
SPMV
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.

MVOL.L vs. SPMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Minimum Volatility UCITS (MVOL.L) and Invesco S&P 500 Minimum Variance ETF (SPMV). 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.

MVOL.LSPMVDifference
Sharpe ratioReturn per unit of total volatility
0.19

—

—

Sortino ratioReturn per unit of downside risk
0.31

—

—

Omega ratioGain probability vs. loss probability

1.04

—

—

Calmar ratioReturn relative to maximum drawdown

0.25

—

—

Martin ratioReturn relative to average drawdown

0.61

—

—

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

MVOL.L vs. SPMV - Sharpe Ratio Comparison

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Sharpe Ratios by Period

MVOL.LSPMVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.19

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.49

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.60

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.73

—

—

Drawdowns

MVOL.L vs. SPMV - Drawdown Comparison

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Drawdown Indicators

MVOL.LSPMVDifference

Max Drawdown

Largest peak-to-trough decline

-28.82%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-5.78%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-8.14%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-18.52%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-28.82%

—

—

Current Drawdown

Current decline from peak

-3.86%

—

—

Average Drawdown

Average peak-to-trough decline

-3.34%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.36%

—

—

Volatility

MVOL.L vs. SPMV - Volatility Comparison

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Volatility by Period

MVOL.LSPMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.01%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

5.58%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

7.74%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.64%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.65%

—

—

MVOL.L vs. SPMV - Expense Ratio Comparison

MVOL.L has a 0.35% expense ratio, which is higher than SPMV's 0.10% expense ratio.

Dividends

MVOL.L vs. SPMV - Dividend Comparison

MVOL.L has not paid dividends to shareholders, while SPMV's dividend yield for the trailing twelve months is around 1.45%.

PositionTTM202520242023202220212020201920182017
MVOL.L
iShares Edge MSCI World Minimum Volatility UCITS		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPMV
Invesco S&P 500 Minimum Variance ETF		1.45%1.53%1.53%2.28%1.79%1.28%1.71%3.13%2.11%1.72%

Frequently Asked Questions

MVOL.L and SPMV have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPMV is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPMV is cheaper with a 0.10% expense ratio, compared with 0.35% for MVOL.L.

MVOL.L is categorized as Global Equities, while SPMV is S&P 500. MVOL.L tracks MSCI ACWI NR USD, while SPMV tracks S&P 500 Minimum Volatility Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.35% for MVOL.L and 0.10% for SPMV.

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