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MVUS.L vs. XLV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MVUS.L vs. XLV

Last updated Jun 9, 2026

MVUS.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) and XLV (State Street Health Care Select Sector SPDR ETF) are both exchange-traded funds - MVUS.L is a S&P 500 fund tracking the S&P 500 Index, while XLV is a Health & Biotech Equities fund tracking the Health Care Select Sector Index. Both are passively managed. Over the past 10 years, MVUS.L returned 11.19%/yr vs 10.38%/yr for XLV. A 0.51 correlation means they provide meaningful diversification when combined. MVUS.L charges 0.20%/yr vs 0.08%/yr for XLV.

Performance

MVUS.L vs. XLV - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L) and State Street Health Care Select Sector SPDR ETF (XLV). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

MVUS.L is traded in GBp, while XLV is traded in USD. To make them comparable, the XLV values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, MVUS.L achieves a 4.03% return, which is significantly higher than XLV's -0.02% return. Over the past 10 years, MVUS.L has outperformed XLV with an annualized return of 11.19%, while XLV has yielded a comparatively lower 10.38% annualized return.

MVUS.L

1D
-0.44%
1M
4.47%
YTD
4.03%
6M
4.68%
1Y
11.77%
3Y*
11.21%
5Y*
9.95%
10Y*
11.19%

XLV

1D
-0.27%
1M
8.69%
YTD
-0.02%
6M
1.48%
1Y
17.21%
3Y*
5.06%
5Y*
7.25%
10Y*
10.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MVUS.L vs. XLV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MVUS.L
iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)		4.03%3.88%20.71%3.83%-0.36%26.59%3.87%26.86%-0.36%6.22%
XLV
State Street Health Care Select Sector SPDR ETF		-0.02%6.35%4.26%-3.04%9.56%27.23%9.97%15.87%12.58%11.24%

Correlation

The correlation between MVUS.L and XLV is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.37

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

0.40

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

0.44

Correlation (10Y)
Calculated over the trailing 10-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Dec 3, 2012

0.51

The correlation between MVUS.L and XLV shifts across timeframes, from 0.37 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.

MVUS.L vs. XLV - Sectors Allocation Comparison

Sectors
MVUS.L
XLV

Technology

29.0%

-

Financial Services

17.8%

-

Healthcare

13.3%
100.0%

Consumer Defensive

10.4%

-

Consumer Cyclical

6.9%

-

Communication Services

6.5%

-

Industrials

5.7%

-

Energy

5.2%

-

Utilities

2.9%

-

Basic Materials

2.3%

-

Real Estate

0.2%

-

Technology

MVUS.L
29.0%
XLV

-

Financial Services

MVUS.L
17.8%
XLV

-

Healthcare

MVUS.L
13.3%
XLV
100.0%

Consumer Defensive

MVUS.L
10.4%
XLV

-

Consumer Cyclical

MVUS.L
6.9%
XLV

-

Communication Services

MVUS.L
6.5%
XLV

-

Industrials

MVUS.L
5.7%
XLV

-

Energy

MVUS.L
5.2%
XLV

-

Utilities

MVUS.L
2.9%
XLV

-

Basic Materials

MVUS.L
2.3%
XLV

-

Real Estate

MVUS.L
0.2%
XLV

-

Compare stocks, funds, or ETFs

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iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)

State Street Health Care Select Sector SPDR ETF

Often compared with MVUS.L:
MVUS.L vs. USMVMVUS.L vs. XDEB.LMVUS.L vs. MVEA.LMVUS.L vs. GLTS.LMVUS.L vs. HMUD.LMVUS.L vs. XLPP.LMVUS.L vs. JURE.L
Often compared with XLV:
XLV vs. VHTXLV vs. SPYXLV vs. XLFXLV vs. IXJXLV vs. VOOXLV vs. FHLCXLV vs. IHI

Return for Risk

MVUS.L vs. XLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MVUS.L
MVUS.L Risk / Return Rank: 4646
Overall Rank
MVUS.L Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
MVUS.L Sortino Ratio Rank: 4646
Sortino Ratio Rank
MVUS.L Omega Ratio Rank: 4545
Omega Ratio Rank
MVUS.L Calmar Ratio Rank: 4848
Calmar Ratio Rank
MVUS.L Martin Ratio Rank: 4646
Martin Ratio Rank
XLV
XLV Risk / Return Rank: 3232
Overall Rank
XLV Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
XLV Sortino Ratio Rank: 3434
Sortino Ratio Rank
XLV Omega Ratio Rank: 3131
Omega Ratio Rank
XLV Calmar Ratio Rank: 3333
Calmar Ratio Rank
XLV Martin Ratio Rank: 2828
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.

MVUS.L vs. XLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L) and State Street Health Care Select Sector SPDR ETF (XLV). 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.

MVUS.LXLVDifference
Sharpe ratioReturn per unit of total volatility
1.46
1.16

+0.30

Sortino ratioReturn per unit of downside risk
2.07
1.78

+0.29

Omega ratioGain probability vs. loss probability

1.26

1.20

+0.06

Calmar ratioReturn relative to maximum drawdown

2.18

1.43

+0.75

Martin ratioReturn relative to average drawdown

6.82

3.51

+3.31

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

MVUS.L vs. XLV - Sharpe Ratio Comparison

The current MVUS.L Sharpe Ratio is 1.46, which is comparable to the XLV Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of MVUS.L and XLV, 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

MVUS.LXLVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.46

1.16

+0.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

0.50

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.66

0.60

+0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.49

0.67

-0.18

Drawdowns

MVUS.L vs. XLV - Drawdown Comparison

The maximum MVUS.L drawdown since its inception was -39.22%, which is greater than XLV's maximum drawdown of -22.72%. Use the drawdown chart below to compare losses from any high point for MVUS.L and XLV.

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Drawdown Indicators

MVUS.LXLVDifference

Max Drawdown

Largest peak-to-trough decline

-39.22%

-22.72%

-16.50%

Max Drawdown (1Y)

Largest decline over 1 year

-5.39%

-12.10%

+6.71%

Max Drawdown (3Y)

Largest decline over 3 years

-20.40%

-18.62%

-1.78%

Max Drawdown (5Y)

Largest decline over 5 years

-20.40%

-18.62%

-1.78%

Max Drawdown (10Y)

Largest decline over 10 years

-24.85%

-19.30%

-5.55%

Current Drawdown

Current decline from peak

-0.44%

-4.35%

+3.91%

Average Drawdown

Average peak-to-trough decline

-7.21%

-4.84%

-2.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.72%

4.91%

-3.19%

Volatility

MVUS.L vs. XLV - Volatility Comparison

The current volatility for iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L) is 2.34%, while State Street Health Care Select Sector SPDR ETF (XLV) has a volatility of 5.53%. This indicates that MVUS.L experiences smaller price fluctuations and is considered to be less risky than XLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MVUS.LXLVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.34%

5.53%

-3.19%

Volatility (6M)

Calculated over the trailing 6-month period

5.60%

11.07%

-5.47%

Volatility (1Y)

Calculated over the trailing 1-year period

8.05%

14.92%

-6.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.31%

14.72%

+3.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.99%

17.32%

-0.33%

MVUS.L vs. XLV - Expense Ratio Comparison

MVUS.L has a 0.20% expense ratio, which is higher than XLV's 0.08% 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

MVUS.L vs. XLV - Dividend Comparison

MVUS.L has not paid dividends to shareholders, while XLV's dividend yield for the trailing twelve months is around 1.64%.

PositionTTM20252024202320222021202020192018201720162015
MVUS.L
iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XLV
State Street Health Care Select Sector SPDR ETF		1.64%1.60%1.67%1.59%1.47%1.33%1.49%2.17%1.57%1.47%1.60%1.43%

Frequently Asked Questions

MVUS.L and XLV have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XLV is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XLV is cheaper with a 0.08% expense ratio, compared with 0.20% for MVUS.L.

MVUS.L is categorized as S&P 500, while XLV is Health & Biotech Equities. MVUS.L tracks S&P 500 Index, while XLV tracks Health Care Select Sector Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for MVUS.L and 0.08% for XLV.

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