SPMV.L vs. SPXS.L
SPMV.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds - SPMV.L tracks the iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 10 years, SPMV.L returned 9.94%/yr vs -27.39%/yr for SPXS.L. Their correlation of 0.88 suggests significant overlap in exposure. SPMV.L charges 0.20%/yr vs 0.05%/yr for SPXS.L.
Performance
SPMV.L vs. SPXS.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPMV.L achieves a 3.85% return, which is significantly lower than SPXS.L's 10.20% return. Over the past 10 years, SPMV.L has outperformed SPXS.L with an annualized return of 9.94%, while SPXS.L has yielded a comparatively lower -27.39% annualized return.
SPMV.L
- 1D
- -0.19%
- 1M
- -0.21%
- 6M
- 3.99%
- YTD
- 3.85%
- 1Y
- 10.62%
- 3Y*
- 12.71%
- 5Y*
- 8.20%
- 10Y*
- 9.94%
SPXS.L
- 1D
- -0.12%
- 1M
- -0.05%
- 6M
- 9.96%
- YTD
- 10.20%
- 1Y
- -98.78%
- 3Y*
- -74.11%
- 5Y*
- -54.94%
- 10Y*
- -27.39%
SPMV.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) | 3.85% | 11.55% | 18.68% | 9.94% | -11.05% | 24.98% | 7.41% | 31.25% | -5.35% | 16.05% |
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 27.00% | -18.53% | 29.64% | 17.89% | 30.86% | -5.19% | 21.62% |
Correlation
The correlation between SPMV.L and SPXS.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2012 | 0.88 |
The correlation between SPMV.L and SPXS.L has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.
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Return for Risk
SPMV.L vs. SPXS.L — Risk / Return Rank
SPMV.L
SPXS.L
SPMV.L vs. SPXS.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 Invesco S&P 500 UCITS ETF (SPXS.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 | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.29 | ||
| Sortino ratioReturn per unit of downside risk | +2.72 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.52 | +0.71 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | -1.00 | +2.76 |
| Martin ratioReturn relative to average drawdown | 6.93 | -1.23 | +8.16 |
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Drawdowns
SPMV.L vs. SPXS.L - Drawdown Comparison
The maximum SPMV.L drawdown since its inception was -33.34%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for SPMV.L and SPXS.L.
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Drawdown Indicators
| SPMV.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.34% | -99.07% | +65.73% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -99.07% | +92.84% |
Max Drawdown (3Y)Largest decline over 3 years | -12.31% | -99.07% | +86.76% |
Max Drawdown (5Y)Largest decline over 5 years | -18.58% | -99.07% | +80.49% |
Max Drawdown (10Y)Largest decline over 10 years | -33.34% | -99.07% | +65.73% |
Current DrawdownCurrent decline from peak | -1.12% | -98.90% | +97.78% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -7.67% | +4.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 80.57% | -78.98% |
Volatility
SPMV.L vs. SPXS.L - Volatility Comparison
The current volatility for iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L) is 2.34%, while Invesco S&P 500 UCITS ETF (SPXS.L) has a volatility of 2.73%. This indicates that SPMV.L experiences smaller price fluctuations and is considered to be less risky than SPXS.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 | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.34% | 2.73% | -0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 6.38% | 9.24% | -2.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.50% | 99.43% | -90.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.68% | 47.13% | -34.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.77% | 35.27% | -21.50% |
SPMV.L vs. SPXS.L - Expense Ratio Comparison
SPMV.L has a 0.20% expense ratio, which is higher than SPXS.L's 0.05% 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. SPXS.L - Dividend Comparison
Neither SPMV.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
SPMV.L and SPXS.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.20% for SPMV.L.
SPMV.L tracks iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc), while SPXS.L tracks Invesco S&P 500 UCITS ETF. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for SPMV.L and 0.05% for SPXS.L.
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