PADV.L vs. USSC.L

Last updated Jun 5, 2026

PADV.L (SPDR S&P Pan Asia Dividend Aristocrats UCITS) and USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - PADV.L is a Asia Pacific Equities fund tracking the MSCI AC Asia Pacific NR USD, while USSC.L is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index. Both are passively managed. Over the past 10 years, PADV.L returned 7.74%/yr vs 12.71%/yr for USSC.L. At a 0.46 correlation, their price movements are largely independent. PADV.L charges 0.55%/yr vs 0.30%/yr for USSC.L.

Performance

PADV.L vs. USSC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P Pan Asia Dividend Aristocrats UCITS (PADV.L) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PADV.L is traded in GBP, while USSC.L is traded in USD. To make them comparable, the USSC.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, PADV.L achieves a 3.65% return, which is significantly lower than USSC.L's 14.18% return. Over the past 10 years, PADV.L has underperformed USSC.L with an annualized return of 7.74%, while USSC.L has yielded a comparatively higher 12.71% annualized return.

PADV.L

• 1D: -0.57%
• 1M: -0.94%
• YTD: 3.65%
• 6M: 0.91%
• 1Y: 13.55%
• 3Y*: 10.47%
• 5Y*: 5.22%
• 10Y*: 7.74%

USSC.L

• 1D: 0.70%
• 1M: 1.74%
• YTD: 14.18%
• 6M: 13.21%
• 1Y: 38.35%
• 3Y*: 16.76%
• 5Y*: 10.82%
• 10Y*: 12.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PADV.L vs. USSC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PADV.L SPDR S&P Pan Asia Dividend Aristocrats UCITS	3.65%	14.61%	6.60%	9.29%	-5.74%	3.20%	-2.54%	16.77%	-3.74%	18.23%
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF	14.18%	6.56%	10.22%	17.02%	0.54%	36.50%	5.57%	18.50%	-10.28%	0.29%

Correlation

The correlation between PADV.L and USSC.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Feb 23, 2015	0.46

PADV.L vs. USSC.L - Sectors Allocation Comparison

Sectors	PADV.L	USSC.L
Financial Services	33.0%	19.8%
Utilities	14.9%	2.5%
Consumer Defensive	9.2%	6.0%
Healthcare	8.7%	7.5%
Industrials	7.3%	14.7%
Consumer Cyclical	6.7%	14.0%
Technology	6.7%	9.4%
Communication Services	6.2%	2.7%
Real Estate	4.6%	6.2%
Basic Materials	2.8%	6.1%
Energy	-	11.2%

Return for Risk

PADV.L vs. USSC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PADV.L

PADV.L Risk / Return Rank: 33
PADV.L Sharpe Ratio Rank: 33
PADV.L Sortino Ratio Rank: 31
PADV.L Omega Ratio Rank: 32
PADV.L Calmar Ratio Rank: 38
PADV.L Martin Ratio Rank: 32

USSC.L

USSC.L Risk / Return Rank: 75
USSC.L Sharpe Ratio Rank: 71
USSC.L Sortino Ratio Rank: 75
USSC.L Omega Ratio Rank: 66
USSC.L Calmar Ratio Rank: 84
USSC.L Martin Ratio Rank: 76

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.

PADV.L vs. USSC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Pan Asia Dividend Aristocrats UCITS (PADV.L) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.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.

	PADV.L	USSC.L	Difference
Sharpe ratio: Return per unit of total volatility	1.17	2.41	-1.24
Sortino ratio: Return per unit of downside risk	1.63	3.24	-1.62
Omega ratio: Gain probability vs. loss probability	1.21	1.42	-0.21
Calmar ratio: Return relative to maximum drawdown	1.87	5.31	-3.43
Martin ratio: Return relative to average drawdown	4.60	17.66	-13.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PADV.L vs. USSC.L - Sharpe Ratio Comparison

The current PADV.L Sharpe Ratio is 1.17, which is lower than the USSC.L Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of PADV.L and USSC.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.

Sharpe Ratios by Period

	PADV.L	USSC.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	2.41	-1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.53	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.57	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.53	-0.09

Drawdowns

PADV.L vs. USSC.L - Drawdown Comparison

The maximum PADV.L drawdown since its inception was -27.09%, smaller than the maximum USSC.L drawdown of -43.40%. Use the drawdown chart below to compare losses from any high point for PADV.L and USSC.L.

Drawdown Indicators

	PADV.L	USSC.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.09%	-43.40%	+16.31%
Max Drawdown (1Y) Largest decline over 1 year	-7.01%	-7.13%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-10.60%	-28.91%	+18.31%
Max Drawdown (5Y) Largest decline over 5 years	-20.25%	-28.91%	+8.66%
Max Drawdown (10Y) Largest decline over 10 years	-24.94%	-43.40%	+18.46%
Current Drawdown Current decline from peak	-4.84%	0.00%	-4.84%
Average Drawdown Average peak-to-trough decline	-5.65%	-7.95%	+2.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	2.15%	+0.72%

Volatility

PADV.L vs. USSC.L - Volatility Comparison

The current volatility for SPDR S&P Pan Asia Dividend Aristocrats UCITS (PADV.L) is 2.49%, while SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) has a volatility of 3.68%. This indicates that PADV.L experiences smaller price fluctuations and is considered to be less risky than USSC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PADV.L	USSC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.49%	3.68%	-1.19%
Volatility (6M) Calculated over the trailing 6-month period	8.83%	10.23%	-1.40%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	15.72%	-4.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.03%	20.60%	-7.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.63%	22.18%	-7.55%

PADV.L vs. USSC.L - Expense Ratio Comparison

PADV.L has a 0.55% expense ratio, which is higher than USSC.L's 0.30% expense ratio.

Dividends

PADV.L vs. USSC.L - Dividend Comparison

PADV.L's dividend yield for the trailing twelve months is around 2.89%, while USSC.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PADV.L SPDR S&P Pan Asia Dividend Aristocrats UCITS	2.89%	2.96%	3.06%	2.93%	3.44%	2.91%	2.94%	2.79%	2.38%	1.76%	2.14%	3.16%
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PADV.L and USSC.L in my portfolio?

PADV.L and USSC.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PADV.L or USSC.L?

On fees, USSC.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PADV.L or USSC.L?

USSC.L is cheaper with a 0.30% expense ratio, compared with 0.55% for PADV.L.

What is the main difference between PADV.L and USSC.L?

PADV.L is categorized as Asia Pacific Equities, while USSC.L is Small Cap Value Equities. PADV.L tracks MSCI AC Asia Pacific NR USD, while USSC.L tracks MSCI USA Small Cap Value Weighted Index. Their fees differ too: 0.55% for PADV.L and 0.30% for USSC.L.