SPMV.L vs. SPMD.L
SPMV.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) and SPMD.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)) are both S&P 500 funds from iShares - SPMV.L tracks the S&P 500 Minimum Volatility Net in USD while SPMD.L tracks the S&P 500 Minimum Volatility Index. Both are passively managed. Over the past 5 years, SPMV.L returned 8.28%/yr vs 8.29%/yr for SPMD.L. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.20% expense ratio.
Performance
SPMV.L vs. SPMD.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SPMV.L having a 4.24% return and SPMD.L slightly higher at 4.28%.
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%
SPMD.L
- 1D
- -0.10%
- 1M
- 0.20%
- 6M
- 4.60%
- YTD
- 4.28%
- 1Y
- 10.57%
- 3Y*
- 12.79%
- 5Y*
- 8.29%
- 10Y*
- —
SPMV.L vs. SPMD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) | 4.24% | 11.55% | 18.68% | 9.94% | -11.05% | 24.98% | 7.41% | 31.25% | -5.09% |
SPMD.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) | 4.28% | 11.59% | 18.75% | 9.74% | -10.93% | 24.96% | 7.60% | 30.96% | -4.05% |
Correlation
The correlation between SPMV.L and SPMD.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2018 | 0.98 |
The correlation between SPMV.L and SPMD.L has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
SPMV.L vs. SPMD.L — Risk / Return Rank
SPMV.L
SPMD.L
SPMV.L vs. SPMD.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 Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) (SPMD.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 | SPMD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.23 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 1.69 | -0.01 |
| Martin ratioReturn relative to average drawdown | 6.62 | 6.61 | +0.01 |
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Drawdowns
SPMV.L vs. SPMD.L - Drawdown Comparison
The maximum SPMV.L drawdown since its inception was -33.34%, roughly equal to the maximum SPMD.L drawdown of -33.23%. Use the drawdown chart below to compare losses from any high point for SPMV.L and SPMD.L.
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Drawdown Indicators
| SPMV.L | SPMD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.34% | -33.23% | -0.11% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -6.23% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -12.31% | -12.05% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -18.58% | -18.66% | +0.08% |
Max Drawdown (10Y)Largest decline over 10 years | -33.34% | — | — |
Current DrawdownCurrent decline from peak | -0.75% | -0.69% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -4.13% | +1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 1.60% | -0.01% |
Volatility
SPMV.L vs. SPMD.L - Volatility Comparison
iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) (SPMD.L) have volatilities of 1.82% and 1.83%, 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
| SPMV.L | SPMD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 1.83% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 6.37% | 6.37% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.50% | 8.46% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.67% | 12.60% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.77% | 14.56% | -0.79% |
SPMV.L vs. SPMD.L - Expense Ratio Comparison
Both SPMV.L and SPMD.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. SPMD.L - Dividend Comparison
SPMV.L has not paid dividends to shareholders, while SPMD.L's dividend yield for the trailing twelve months is around 1.16%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
SPMV.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% |
Frequently Asked Questions
With a correlation of 0.98, SPMV.L and SPMD.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 SPMD.L have the same expense ratio: 0.20% per year.
SPMV.L tracks S&P 500 Minimum Volatility Net in USD, while SPMD.L tracks S&P 500 Minimum Volatility Index.
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