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

SPMD.L vs. MVUS.L

Last updated Jun 5, 2026

SPMD.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)) and MVUS.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) are both S&P 500 funds from iShares - SPMD.L tracks the S&P 500 Minimum Volatility Index while MVUS.L tracks the S&P 500 Index. Both are passively managed. Over the past 5 years, SPMD.L returned 8.91%/yr vs 8.93%/yr for MVUS.L. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

SPMD.L vs. MVUS.L - 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 (Dist) (SPMD.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with SPMD.L having a 4.17% return and MVUS.L slightly higher at 4.19%.

SPMD.L

1D
0.15%
1M
3.76%
YTD
4.17%
6M
5.47%
1Y
11.38%
3Y*
13.82%
5Y*
8.91%
10Y*
—

MVUS.L

1D
0.27%
1M
4.01%
YTD
4.19%
6M
5.65%
1Y
11.46%
3Y*
13.69%
5Y*
8.93%
10Y*
10.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPMD.L vs. MVUS.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
SPMD.L
iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)		4.17%11.56%18.70%9.87%-10.96%24.92%7.60%30.93%-4.56%
MVUS.L
iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)		4.19%11.72%18.70%9.31%-11.01%25.45%7.05%31.95%-4.76%

Correlation

The correlation between SPMD.L and MVUS.L is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.86

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

0.89

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

0.90

Correlation (All Time)
Calculated using the full available price history since Feb 26, 2018

0.90

The correlation between SPMD.L and MVUS.L has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

SPMD.L vs. MVUS.L - Sectors Allocation Comparison

Sectors
SPMD.L
MVUS.L

Technology

29.0%
31.0%

Financial Services

17.8%
17.2%

Healthcare

13.3%
13.0%

Consumer Defensive

10.4%
10.4%

Consumer Cyclical

6.9%
6.7%

Communication Services

6.5%
6.2%

Industrials

5.7%
5.6%

Energy

5.2%
5.0%

Utilities

2.9%
2.7%

Basic Materials

2.3%
2.2%

Real Estate

0.2%
0.2%

Technology

SPMD.L
29.0%
MVUS.L
31.0%

Financial Services

SPMD.L
17.8%
MVUS.L
17.2%

Healthcare

SPMD.L
13.3%
MVUS.L
13.0%

Consumer Defensive

SPMD.L
10.4%
MVUS.L
10.4%

Consumer Cyclical

SPMD.L
6.9%
MVUS.L
6.7%

Communication Services

SPMD.L
6.5%
MVUS.L
6.2%

Industrials

SPMD.L
5.7%
MVUS.L
5.6%

Energy

SPMD.L
5.2%
MVUS.L
5.0%

Utilities

SPMD.L
2.9%
MVUS.L
2.7%

Basic Materials

SPMD.L
2.3%
MVUS.L
2.2%

Real Estate

SPMD.L
0.2%
MVUS.L
0.2%

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

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

Often compared with SPMD.L:
SPMD.L vs. VOOSPMD.L vs. VUAG.LSPMD.L vs. LGLVSPMD.L vs. SPYSPMD.L vs. VTISPMD.L vs. USMVSPMD.L vs. CSPX.L
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

Return for Risk

SPMD.L vs. MVUS.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPMD.L
SPMD.L Risk / Return Rank: 4040
Overall Rank
SPMD.L Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
SPMD.L Sortino Ratio Rank: 4141
Sortino Ratio Rank
SPMD.L Omega Ratio Rank: 3838
Omega Ratio Rank
SPMD.L Calmar Ratio Rank: 3737
Calmar Ratio Rank
SPMD.L Martin Ratio Rank: 4444
Martin Ratio Rank
MVUS.L
MVUS.L Risk / Return Rank: 4545
Overall Rank
MVUS.L Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
MVUS.L Sortino Ratio Rank: 4545
Sortino Ratio Rank
MVUS.L Omega Ratio Rank: 4444
Omega Ratio Rank
MVUS.L Calmar Ratio Rank: 4747
Calmar Ratio Rank
MVUS.L Martin Ratio Rank: 4545
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.

SPMD.L vs. MVUS.L - 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 (Dist) (SPMD.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.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.

SPMD.LMVUS.LDifference
Sharpe ratioReturn per unit of total volatility
1.36
1.39

-0.03

Sortino ratioReturn per unit of downside risk
2.05
2.03

+0.02

Omega ratioGain probability vs. loss probability

1.24

1.24

0.00

Calmar ratioReturn relative to maximum drawdown

1.82

1.74

+0.08

Martin ratioReturn relative to average drawdown

7.13

7.03

+0.10

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

SPMD.L vs. MVUS.L - Sharpe Ratio Comparison

The current SPMD.L Sharpe Ratio is 1.36, which is comparable to the MVUS.L Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of SPMD.L and MVUS.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.

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Sharpe Ratios by Period

SPMD.LMVUS.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.36

1.39

-0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.71

0.70

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.76

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.71

0.87

-0.16

Drawdowns

SPMD.L vs. MVUS.L - Drawdown Comparison

The maximum SPMD.L drawdown since its inception was -33.34%, roughly equal to the maximum MVUS.L drawdown of -33.05%. Use the drawdown chart below to compare losses from any high point for SPMD.L and MVUS.L.

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Drawdown Indicators

SPMD.LMVUS.LDifference

Max Drawdown

Largest peak-to-trough decline

-33.34%

-33.05%

-0.29%

Max Drawdown (1Y)

Largest decline over 1 year

-6.23%

-6.55%

+0.32%

Max Drawdown (3Y)

Largest decline over 3 years

-12.11%

-12.02%

-0.09%

Max Drawdown (5Y)

Largest decline over 5 years

-18.68%

-19.44%

+0.76%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.05%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.20%

-3.25%

-0.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.59%

1.63%

-0.04%

Volatility

SPMD.L vs. MVUS.L - Volatility Comparison

iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) (SPMD.L) has a higher volatility of 2.06% compared to iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L) at 1.57%. This indicates that SPMD.L's price experiences larger fluctuations and is considered to be riskier than MVUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPMD.LMVUS.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.06%

1.57%

+0.49%

Volatility (6M)

Calculated over the trailing 6-month period

5.98%

5.82%

+0.16%

Volatility (1Y)

Calculated over the trailing 1-year period

8.35%

8.21%

+0.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.56%

12.66%

-0.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.63%

13.93%

+0.70%

SPMD.L vs. MVUS.L - Expense Ratio Comparison

Both SPMD.L and MVUS.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

SPMD.L vs. MVUS.L - Dividend Comparison

SPMD.L's dividend yield for the trailing twelve months is around 1.16%, while MVUS.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018
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%
SPMD.L
iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)		1.16%1.15%1.28%1.46%1.35%1.27%1.54%1.52%1.13%

Frequently Asked Questions

SPMD.L and MVUS.L have a correlation of 0.86, 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.

SPMD.L and MVUS.L have the same expense ratio: 0.20% per year.

SPMD.L tracks S&P 500 Minimum Volatility Index, while MVUS.L tracks S&P 500 Index.

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