SPEX.L vs. SPMV.L
SPEX.L (Invesco S&P 500 Equal Weight UCITS ETF Acc) and SPMV.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) are both S&P 500 funds - SPEX.L tracks the S&P 500 Equal Weight Index while SPMV.L tracks the S&P 500 Minimum Volatility Net in USD. Both are passively managed. Over the past 5 years, SPEX.L returned 9.43%/yr vs 8.78%/yr for SPMV.L. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.
Performance
SPEX.L vs. SPMV.L - Performance Comparison
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Different Trading Currencies
SPEX.L is traded in GBp, while SPMV.L is traded in USD. To make them comparable, the SPMV.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPEX.L achieves a 11.86% return, which is significantly higher than SPMV.L's 4.40% return.
SPEX.L
- 1D
- 0.68%
- 1M
- 0.76%
- 6M
- 7.46%
- YTD
- 11.86%
- 1Y
- 19.94%
- 3Y*
- 12.56%
- 5Y*
- 9.43%
- 10Y*
- —
SPMV.L
- 1D
- 0.80%
- 1M
- -0.18%
- 6M
- 3.42%
- YTD
- 4.40%
- 1Y
- 11.16%
- 3Y*
- 11.78%
- 5Y*
- 8.78%
- 10Y*
- 9.81%
SPEX.L vs. SPMV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPEX.L Invesco S&P 500 Equal Weight UCITS ETF Acc | 11.86% | 3.90% | 14.09% | 7.64% | -1.17% | 8,302.22% |
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) | 4.40% | 3.60% | 20.76% | 4.44% | -0.48% | 21.78% |
Correlation
The correlation between SPEX.L and SPMV.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.76 |
The correlation between SPEX.L and SPMV.L has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.
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Return for Risk
SPEX.L vs. SPMV.L — Risk / Return Rank
SPEX.L
SPMV.L
SPEX.L vs. SPMV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.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.
| SPEX.L | SPMV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.21 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 2.15 | +1.31 |
| Martin ratioReturn relative to average drawdown | 11.20 | 6.35 | +4.86 |
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Drawdowns
SPEX.L vs. SPMV.L - Drawdown Comparison
The maximum SPEX.L drawdown since its inception was -20.03%, smaller than the maximum SPMV.L drawdown of -25.15%. Use the drawdown chart below to compare losses from any high point for SPEX.L and SPMV.L.
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Drawdown Indicators
| SPEX.L | SPMV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.03% | -25.15% | +5.12% |
Max Drawdown (1Y)Largest decline over 1 year | -5.73% | -5.16% | -0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -20.03% | -14.55% | -5.48% |
Max Drawdown (5Y)Largest decline over 5 years | -20.03% | -14.55% | -5.48% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.15% | — |
Current DrawdownCurrent decline from peak | -1.29% | -1.52% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -5.50% | -3.39% | -2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 1.75% | +0.03% |
Volatility
SPEX.L vs. SPMV.L - Volatility Comparison
Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L) have volatilities of 2.92% and 2.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPEX.L | SPMV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 2.82% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 6.87% | 7.29% | -0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.71% | 9.62% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.61% | 12.68% | +6.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2,820.40% | 14.18% | +2,806.22% |
SPEX.L vs. SPMV.L - Expense Ratio Comparison
Both SPEX.L and SPMV.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPEX.L vs. SPMV.L - Dividend Comparison
Neither SPEX.L nor SPMV.L has paid dividends to shareholders.
Frequently Asked Questions
SPEX.L and SPMV.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SPEX.L and SPMV.L have the same expense ratio: 0.20% per year.
SPEX.L tracks S&P 500 Equal Weight Index, while SPMV.L tracks S&P 500 Minimum Volatility Net in USD. They also come from different issuers: Invesco and iShares.
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