SPMV.L vs. EWSP.L
SPMV.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) and EWSP.L (iShares S&P 500 Equal Weight UCITS ETF USD (Acc)) are both S&P 500 funds from iShares - SPMV.L tracks the S&P 500 Minimum Volatility Net in USD while EWSP.L tracks the S&P 500 Equal Weight Index. Both are passively managed. Over the past 3 years, SPMV.L returned 12.84%/yr vs 13.36%/yr for EWSP.L. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.
Performance
SPMV.L vs. EWSP.L - Performance Comparison
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Different Trading Currencies
SPMV.L is traded in USD, while EWSP.L is traded in GBP. To make them comparable, the EWSP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPMV.L achieves a 4.24% return, which is significantly lower than EWSP.L's 11.71% return.
SPMV.L
- 1D
- -0.19%
- 1M
- 0.14%
- 6M
- 4.46%
- YTD
- 4.24%
- 1Y
- 10.52%
- 3Y*
- 12.84%
- 5Y*
- 8.28%
- 10Y*
- 9.98%
EWSP.L
- 1D
- -0.39%
- 1M
- 1.90%
- 6M
- 8.40%
- YTD
- 11.71%
- 1Y
- 18.22%
- 3Y*
- 13.36%
- 5Y*
- —
- 10Y*
- —
SPMV.L vs. EWSP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) | 4.24% | 11.55% | 18.68% | 9.94% | -3.30% |
EWSP.L iShares S&P 500 Equal Weight UCITS ETF USD (Acc) | 11.71% | 11.87% | 12.06% | 13.48% | -19.44% |
Correlation
The correlation between SPMV.L and EWSP.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 | 0.75 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2022 | 0.77 |
The correlation between SPMV.L and EWSP.L has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.
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Return for Risk
SPMV.L vs. EWSP.L — Risk / Return Rank
SPMV.L
EWSP.L
SPMV.L vs. EWSP.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 (Acc) (SPMV.L) and iShares S&P 500 Equal Weight UCITS ETF USD (Acc) (EWSP.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.
| SPMV.L | EWSP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.31 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 2.56 | -0.88 |
| Martin ratioReturn relative to average drawdown | 6.62 | 9.27 | -2.66 |
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Drawdowns
SPMV.L vs. EWSP.L - Drawdown Comparison
The maximum SPMV.L drawdown since its inception was -33.34%, which is greater than EWSP.L's maximum drawdown of -27.73%. Use the drawdown chart below to compare losses from any high point for SPMV.L and EWSP.L.
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Drawdown Indicators
| SPMV.L | EWSP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.34% | -27.73% | -5.61% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -7.08% | +0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -12.31% | -19.07% | +6.76% |
Max Drawdown (5Y)Largest decline over 5 years | -18.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.34% | — | — |
Current DrawdownCurrent decline from peak | -0.75% | -0.42% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -8.91% | +5.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 1.96% | -0.37% |
Volatility
SPMV.L vs. EWSP.L - Volatility Comparison
The current volatility for iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L) is 1.82%, while iShares S&P 500 Equal Weight UCITS ETF USD (Acc) (EWSP.L) has a volatility of 2.30%. This indicates that SPMV.L experiences smaller price fluctuations and is considered to be less risky than EWSP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMV.L | EWSP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 2.30% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 6.37% | 7.27% | -0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.50% | 10.27% | -1.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.67% | 22.74% | -10.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.77% | 22.74% | -8.97% |
SPMV.L vs. EWSP.L - Expense Ratio Comparison
Both SPMV.L and EWSP.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
SPMV.L vs. EWSP.L - Dividend Comparison
Neither SPMV.L nor EWSP.L has paid dividends to shareholders.
Frequently Asked Questions
SPMV.L and EWSP.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.
SPMV.L and EWSP.L have the same expense ratio: 0.20% per year.
SPMV.L tracks S&P 500 Minimum Volatility Net in USD, while EWSP.L tracks S&P 500 Equal Weight Index.
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