R2SC.L vs. ^SP400

Last updated Jun 4, 2026

R2SC.L (SPDR Russell 2000 US Small Cap UCITS ETF) is Small Cap Blend Equities fund tracking the Russell 2000 TR USD, while ^SP400 (S&P 400 Index) is an index. Over the past 10 years, R2SC.L returned 11.53%/yr vs 10.45%/yr for ^SP400. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

R2SC.L vs. ^SP400 - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L) and S&P 400 Index (^SP400). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

R2SC.L is traded in GBP, while ^SP400 is traded in USD. To make them comparable, the ^SP400 values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, R2SC.L achieves a 16.67% return, which is significantly higher than ^SP400's 13.91% return. Over the past 10 years, R2SC.L has outperformed ^SP400 with an annualized return of 11.53%, while ^SP400 has yielded a comparatively lower 10.45% annualized return.

R2SC.L

• 1D: -0.62%
• 1M: 4.94%
• YTD: 16.67%
• 6M: 16.08%
• 1Y: 40.29%
• 3Y*: 15.25%
• 5Y*: 7.03%
• 10Y*: 11.53%

^SP400

• 1D: 0.17%
• 1M: 4.58%
• YTD: 13.91%
• 6M: 12.96%
• 1Y: 24.61%
• 3Y*: 11.57%
• 5Y*: 7.72%
• 10Y*: 10.45%

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

R2SC.L vs. ^SP400 - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
R2SC.L SPDR Russell 2000 US Small Cap UCITS ETF	16.67%	4.66%	11.86%	12.18%	-11.55%	15.87%	15.73%	20.67%	-7.45%	4.45%
^SP400 S&P 400 Index	13.91%	-1.64%	14.16%	8.73%	-4.32%	24.38%	8.52%	19.33%	-7.31%	4.55%

Correlation

The correlation between R2SC.L and ^SP400 is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jul 3, 2014	0.61

The correlation between R2SC.L and ^SP400 has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.

Return for Risk

R2SC.L vs. ^SP400 — Risk / Return Rank

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

R2SC.L

R2SC.L Risk / Return Rank: 72
R2SC.L Sharpe Ratio Rank: 71
R2SC.L Sortino Ratio Rank: 69
R2SC.L Omega Ratio Rank: 64
R2SC.L Calmar Ratio Rank: 85
R2SC.L Martin Ratio Rank: 73

^SP400

^SP400 Risk / Return Rank: 57
^SP400 Sharpe Ratio Rank: 52
^SP400 Sortino Ratio Rank: 54
^SP400 Omega Ratio Rank: 53
^SP400 Calmar Ratio Rank: 62
^SP400 Martin Ratio Rank: 62

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.

R2SC.L vs. ^SP400 - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L) and S&P 400 Index (^SP400). 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.

	R2SC.L	^SP400	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.68	+0.66
Sortino ratio: Return per unit of downside risk	3.19	2.37	+0.81
Omega ratio: Gain probability vs. loss probability	1.39	1.30	+0.09
Calmar ratio: Return relative to maximum drawdown	4.65	3.04	+1.61
Martin ratio: Return relative to average drawdown	13.68	10.92	+2.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

R2SC.L vs. ^SP400 - Sharpe Ratio Comparison

The current R2SC.L Sharpe Ratio is 2.34, which is higher than the ^SP400 Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of R2SC.L and ^SP400, 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

	R2SC.L	^SP400	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	1.68	+0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.42	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.51	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.47	+0.08

Drawdowns

R2SC.L vs. ^SP400 - Drawdown Comparison

The maximum R2SC.L drawdown since its inception was -35.03%, smaller than the maximum ^SP400 drawdown of -38.17%. Use the drawdown chart below to compare losses from any high point for R2SC.L and ^SP400.

Drawdown Indicators

	R2SC.L	^SP400	Difference
Max Drawdown Largest peak-to-trough decline	-35.03%	-38.17%	+3.14%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-8.14%	-0.49%
Max Drawdown (3Y) Largest decline over 3 years	-30.00%	-25.72%	-4.28%
Max Drawdown (5Y) Largest decline over 5 years	-30.00%	-25.72%	-4.28%
Max Drawdown (10Y) Largest decline over 10 years	-35.03%	-35.41%	+0.38%
Current Drawdown Current decline from peak	-1.21%	0.00%	-1.21%
Average Drawdown Average peak-to-trough decline	-8.52%	-6.76%	-1.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	2.26%	+0.68%

Volatility

R2SC.L vs. ^SP400 - Volatility Comparison

SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L) has a higher volatility of 5.26% compared to S&P 400 Index (^SP400) at 3.87%. This indicates that R2SC.L's price experiences larger fluctuations and is considered to be riskier than ^SP400 based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	R2SC.L	^SP400	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	3.87%	+1.39%
Volatility (6M) Calculated over the trailing 6-month period	11.75%	10.63%	+1.12%
Volatility (1Y) Calculated over the trailing 1-year period	17.24%	14.77%	+2.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.06%	18.39%	+1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.78%	20.64%	+0.14%

Frequently Asked Questions

Can I hold both R2SC.L and ^SP400 in my portfolio?

R2SC.L and ^SP400 have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.