SPMV.L vs. ISPE.L

Last updated Jul 29, 2026

SPMV.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) and ISPE.L (iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc)) are both S&P 500 funds from iShares - SPMV.L tracks the S&P 500 Minimum Volatility Net in USD while ISPE.L tracks the S&P 500 Equal Weight Index (USD). Both are passively managed. Over the past 3 years, SPMV.L returned 12.73%/yr vs 14.32%/yr for ISPE.L. Their 0.76 correlation means they have sometimes moved together and sometimes differently. SPMV.L charges 0.20%/yr vs 0.17%/yr for ISPE.L.

Performance

SPMV.L vs. ISPE.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 (Acc) (SPMV.L) and iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) (ISPE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPMV.L is traded in USD, while ISPE.L is traded in GBP. To make them comparable, the ISPE.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 5.21% return, which is significantly lower than ISPE.L's 12.21% return.

SPMV.L

• 1D: 1.08%
• 1M: 2.12%
• 6M: 4.67%
• YTD: 5.21%
• 1Y: 9.95%
• 3Y*: 12.73%
• 5Y*: 8.22%
• 10Y*: 10.07%
• ALL TIME*: 11.80%

ISPE.L

• 1D: 1.50%
• 1M: 3.10%
• 6M: 5.91%
• YTD: 12.21%
• 1Y: 17.09%
• 3Y*: 14.32%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.61%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ISPE.L iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc)	$1.51M	$1.52M	$1.53M
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)	$4.60M	$3.80M	$3.05M

SPMV.L vs. ISPE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)	5.21%	11.55%	18.68%	9.94%	-3.30%
ISPE.L iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc)	12.21%	19.69%	9.62%	18.15%	-4.38%

Correlation

The correlation between SPMV.L and ISPE.L is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (All Time) Calculated using the full available price history since Aug 2, 2022	0.76

The correlation between SPMV.L and ISPE.L has been stable across timeframes, ranging from 0.75 to 0.76 - a consistent structural relationship.

SPMV.L vs. ISPE.L - Sectors Allocation Comparison

Sectors	SPMV.L	ISPE.L
Technology	33.4%	17.3%
Financial Services	14.5%	13.9%
Healthcare	13.2%	12.0%
Consumer Defensive	9.3%	6.4%
Energy	7.2%	3.8%
Consumer Cyclical	6.9%	10.9%
Industrials	6.6%	15.7%
Communication Services	5.8%	4.0%
Basic Materials	2.0%	3.9%
Utilities	1.0%	6.3%
Real Estate	0.1%	5.9%

Return for Risk

SPMV.L vs. ISPE.L — Risk / Return Rank

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

SPMV.L

SPMV.L Risk / Return Rank: 47
SPMV.L Sharpe Ratio Rank: 47
SPMV.L Sortino Ratio Rank: 48
SPMV.L Omega Ratio Rank: 45
SPMV.L Calmar Ratio Rank: 44
SPMV.L Martin Ratio Rank: 53

ISPE.L

ISPE.L Risk / Return Rank: 72
ISPE.L Sharpe Ratio Rank: 71
ISPE.L Sortino Ratio Rank: 76
ISPE.L Omega Ratio Rank: 68
ISPE.L Calmar Ratio Rank: 72
ISPE.L Martin Ratio Rank: 74

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.

SPMV.L vs. ISPE.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 GBP Hedged (Acc) (ISPE.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	ISPE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.16	1.22	-0.07
Sortino ratio: Return per unit of downside risk	1.74	1.87	-0.13
Omega ratio: Gain probability vs. loss probability	1.21	1.21	0.00
Calmar ratio: Return relative to maximum drawdown	1.59	1.79	-0.20
Martin ratio: Return relative to average drawdown	6.27	6.01	+0.26

SPMV.L vs. ISPE.L - Sharpe Ratio Comparison

The current SPMV.L Sharpe Ratio is 1.16, which is comparable to the ISPE.L Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of SPMV.L and ISPE.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.

Drawdowns

SPMV.L vs. ISPE.L - Drawdown Comparison

The maximum SPMV.L drawdown since its inception was -33.34%, which is greater than ISPE.L's maximum drawdown of -24.90%. Use the drawdown chart below to compare losses from any high point for SPMV.L and ISPE.L.

Drawdown Indicators

	SPMV.L	ISPE.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.34%	-24.90%	-8.44%
Max Drawdown (1Y) Largest decline over 1 year	-6.23%	-9.53%	+3.30%
Max Drawdown (3Y) Largest decline over 3 years	-12.31%	-18.34%	+6.03%
Max Drawdown (5Y) Largest decline over 5 years	-18.58%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.34%	—	—
Current Drawdown Current decline from peak	0.00%	-0.05%	+0.05%
Average Drawdown Average peak-to-trough decline	-3.13%	-4.45%	+1.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	2.82%	-1.24%

Volatility

SPMV.L vs. ISPE.L - Volatility Comparison

The current volatility for iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L) is 2.19%, while iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) (ISPE.L) has a volatility of 3.47%. This indicates that SPMV.L experiences smaller price fluctuations and is considered to be less risky than ISPE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPMV.L	ISPE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.19%	3.47%	-1.28%
Volatility (6M) Calculated over the trailing 6-month period	6.43%	10.27%	-3.84%
Volatility (1Y) Calculated over the trailing 1-year period	8.55%	13.91%	-5.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.67%	19.09%	-6.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.78%	19.09%	-5.31%

SPMV.L vs. ISPE.L - Expense Ratio Comparison

SPMV.L has a 0.20% expense ratio, which is higher than ISPE.L's 0.17% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPMV.L vs. ISPE.L - Dividend Comparison

Neither SPMV.L nor ISPE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPMV.L and ISPE.L in my portfolio?

SPMV.L and ISPE.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPMV.L or ISPE.L?

On fees, ISPE.L is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPMV.L or ISPE.L?

ISPE.L is cheaper with a 0.17% expense ratio, compared with 0.20% for SPMV.L.

What is the main difference between SPMV.L and ISPE.L?

SPMV.L tracks S&P 500 Minimum Volatility Net in USD, while ISPE.L tracks S&P 500 Equal Weight Index (USD). Their fees differ too: 0.20% for SPMV.L and 0.17% for ISPE.L.