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SPGM vs. BDVL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPGM vs. BDVL

Last updated Jun 4, 2026

SPGM (SPDR Portfolio MSCI Global Stock Market ETF) and BDVL (iShares Disciplined Volatility Equity Active ETF) are both Global Equities funds - SPGM tracks the MSCI AC World IMI while BDVL tracks the MSCI ACWI Minimum Volatility Index. Both are passively managed. Their correlation of 0.84 suggests significant overlap in exposure. SPGM charges 0.09%/yr vs 0.40%/yr for BDVL.

Performance

SPGM vs. BDVL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and iShares Disciplined Volatility Equity Active ETF (BDVL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPGM achieves a 12.88% return, which is significantly higher than BDVL's 4.71% return.

SPGM

1D
-0.87%
1M
4.94%
YTD
12.88%
6M
13.62%
1Y
31.70%
3Y*
21.46%
5Y*
11.48%
10Y*
12.95%

BDVL

1D
-0.44%
1M
0.91%
YTD
4.71%
6M
5.43%
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPGM vs. BDVL - Yearly Performance Comparison

2026 (YTD)2025
SPGM
SPDR Portfolio MSCI Global Stock Market ETF		12.88%4.50%
BDVL
iShares Disciplined Volatility Equity Active ETF		4.71%1.97%

Correlation

The correlation between SPGM and BDVL is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (All Time)
Calculated using the full available price history since Sep 16, 2025

0.84

SPGM vs. BDVL - Sectors Allocation Comparison

Sectors
SPGM
BDVL

Technology

27.4%
23.0%

Financial Services

16.4%
13.9%

Industrials

13.1%
15.4%

Consumer Cyclical

9.2%
8.5%

Communication Services

8.5%
10.7%

Healthcare

8.2%
11.1%

Consumer Defensive

4.8%
6.3%

Energy

4.5%
2.8%

Basic Materials

3.9%
2.6%

Utilities

2.2%
4.8%

Real Estate

1.9%
1.0%

Technology

SPGM
27.4%
BDVL
23.0%

Financial Services

SPGM
16.4%
BDVL
13.9%

Industrials

SPGM
13.1%
BDVL
15.4%

Consumer Cyclical

SPGM
9.2%
BDVL
8.5%

Communication Services

SPGM
8.5%
BDVL
10.7%

Healthcare

SPGM
8.2%
BDVL
11.1%

Consumer Defensive

SPGM
4.8%
BDVL
6.3%

Energy

SPGM
4.5%
BDVL
2.8%

Basic Materials

SPGM
3.9%
BDVL
2.6%

Utilities

SPGM
2.2%
BDVL
4.8%

Real Estate

SPGM
1.9%
BDVL
1.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Portfolio MSCI Global Stock Market ETF

iShares Disciplined Volatility Equity Active ETF

Often compared with SPGM:
SPGM vs. VTSPGM vs. VOOSPGM vs. VXUSSPGM vs. CWISPGM vs. QWLDSPGM vs. SWRD.ASSPGM vs. SPGP
Often compared with BDVL:
BDVL vs. CGGEBDVL vs. VTBDVL vs. DFAWBDVL vs. UFOBDVL vs. IVESBDVL vs. AVGVBDVL vs. PAWZ

Return for Risk

SPGM vs. BDVL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPGM
SPGM Risk / Return Rank: 7373
Overall Rank
SPGM Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
SPGM Sortino Ratio Rank: 7373
Sortino Ratio Rank
SPGM Omega Ratio Rank: 7474
Omega Ratio Rank
SPGM Calmar Ratio Rank: 6666
Calmar Ratio Rank
SPGM Martin Ratio Rank: 7777
Martin Ratio Rank
BDVL
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.

SPGM vs. BDVL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and iShares Disciplined Volatility Equity Active ETF (BDVL). 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.

SPGMBDVLDifference
Sharpe ratioReturn per unit of total volatility
2.47

—

—

Sortino ratioReturn per unit of downside risk
3.39

—

—

Omega ratioGain probability vs. loss probability

1.45

—

—

Calmar ratioReturn relative to maximum drawdown

3.35

—

—

Martin ratioReturn relative to average drawdown

15.14

—

—

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

SPGM vs. BDVL - Sharpe Ratio Comparison

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Sharpe Ratios by Period

SPGMBDVLDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.47

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.72

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.74

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.66

1.01

-0.36

Drawdowns

SPGM vs. BDVL - Drawdown Comparison

The maximum SPGM drawdown since its inception was -33.97%, which is greater than BDVL's maximum drawdown of -7.71%. Use the drawdown chart below to compare losses from any high point for SPGM and BDVL.

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Drawdown Indicators

SPGMBDVLDifference

Max Drawdown

Largest peak-to-trough decline

-33.97%

-7.71%

-26.26%

Max Drawdown (1Y)

Largest decline over 1 year

-9.50%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-16.90%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-25.93%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-33.97%

—

—

Current Drawdown

Current decline from peak

-0.87%

-0.95%

+0.08%

Average Drawdown

Average peak-to-trough decline

-4.81%

-1.19%

-3.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.10%

—

—

Volatility

SPGM vs. BDVL - Volatility Comparison

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Volatility by Period

SPGMBDVLDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.92%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

10.35%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

12.88%

9.49%

+3.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.03%

9.49%

+6.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.57%

9.49%

+8.08%

SPGM vs. BDVL - Expense Ratio Comparison

SPGM has a 0.09% expense ratio, which is lower than BDVL's 0.40% expense ratio.

Dividends

SPGM vs. BDVL - Dividend Comparison

SPGM's dividend yield for the trailing twelve months is around 1.79%, less than BDVL's 2.66% yield.

PositionTTM20252024202320222021202020192018201720162015
BDVL
iShares Disciplined Volatility Equity Active ETF		2.66%2.79%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPGM
SPDR Portfolio MSCI Global Stock Market ETF		1.79%1.89%1.98%2.09%2.37%1.94%1.45%2.46%1.89%2.29%1.87%3.70%

Frequently Asked Questions

SPGM and BDVL have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPGM is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPGM is cheaper with a 0.09% expense ratio, compared with 0.40% for BDVL.

BDVL has the higher dividend yield at 2.66%, compared with 1.79% for SPGM.

SPGM tracks MSCI AC World IMI, while BDVL tracks MSCI ACWI Minimum Volatility Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.09% for SPGM and 0.40% for BDVL.

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