SPMV.L vs. SPY5.L
SPMV.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) and SPY5.L (State Street SPDR S&P 500 UCITS ETF (Dist)) are both S&P 500 funds - SPMV.L tracks the S&P 500 Minimum Volatility Net in USD while SPY5.L tracks the S&P 500 Index. Both are passively managed. Over the past 10 years, SPMV.L returned 10.00%/yr vs 14.54%/yr for SPY5.L. Their correlation of 0.88 suggests significant overlap in exposure. SPMV.L charges 0.20%/yr vs 0.03%/yr for SPY5.L.
Performance
SPMV.L vs. SPY5.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPMV.L achieves a 4.44% return, which is significantly lower than SPY5.L's 8.93% return. Over the past 10 years, SPMV.L has underperformed SPY5.L with an annualized return of 10.00%, while SPY5.L has yielded a comparatively higher 14.54% annualized return.
SPMV.L
- 1D
- 0.37%
- 1M
- 0.18%
- 6M
- 4.16%
- YTD
- 4.44%
- 1Y
- 11.65%
- 3Y*
- 12.92%
- 5Y*
- 8.32%
- 10Y*
- 10.00%
SPY5.L
- 1D
- -1.25%
- 1M
- -0.56%
- 6M
- 7.99%
- YTD
- 8.93%
- 1Y
- 19.94%
- 3Y*
- 19.39%
- 5Y*
- 12.73%
- 10Y*
- 14.54%
SPMV.L vs. SPY5.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) | 4.44% | 11.55% | 18.68% | 9.94% | -11.05% | 24.98% | 7.41% | 31.25% | -5.35% | 16.05% |
SPY5.L State Street SPDR S&P 500 UCITS ETF (Dist) | 8.93% | 17.43% | 25.36% | 26.64% | -18.68% | 29.28% | 17.52% | 30.43% | -6.64% | 21.12% |
Correlation
The correlation between SPMV.L and SPY5.L is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
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 SPY5.L has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.
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Return for Risk
SPMV.L vs. SPY5.L — Risk / Return Rank
SPMV.L
SPY5.L
SPMV.L vs. SPY5.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 State Street SPDR S&P 500 UCITS ETF (Dist) (SPY5.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 | SPY5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.30 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 2.43 | -0.56 |
| Martin ratioReturn relative to average drawdown | 7.33 | 9.83 | -2.50 |
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Drawdowns
SPMV.L vs. SPY5.L - Drawdown Comparison
The maximum SPMV.L drawdown since its inception was -33.34%, roughly equal to the maximum SPY5.L drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for SPMV.L and SPY5.L.
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Drawdown Indicators
| SPMV.L | SPY5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.34% | -33.89% | +0.55% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -8.18% | +1.95% |
Max Drawdown (3Y)Largest decline over 3 years | -12.31% | -18.36% | +6.05% |
Max Drawdown (5Y)Largest decline over 5 years | -18.58% | -24.37% | +5.79% |
Max Drawdown (10Y)Largest decline over 10 years | -33.34% | -33.89% | +0.55% |
Current DrawdownCurrent decline from peak | -0.56% | -1.79% | +1.23% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -3.70% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 2.02% | -0.43% |
Volatility
SPMV.L vs. SPY5.L - Volatility Comparison
The current volatility for iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L) is 2.36%, while State Street SPDR S&P 500 UCITS ETF (Dist) (SPY5.L) has a volatility of 3.07%. This indicates that SPMV.L experiences smaller price fluctuations and is considered to be less risky than SPY5.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 | SPY5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 3.07% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 6.39% | 9.32% | -2.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.51% | 12.06% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.68% | 16.00% | -3.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.77% | 16.20% | -2.43% |
SPMV.L vs. SPY5.L - Expense Ratio Comparison
SPMV.L has a 0.20% expense ratio, which is higher than SPY5.L's 0.03% 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. SPY5.L - Dividend Comparison
SPMV.L has not paid dividends to shareholders, while SPY5.L's dividend yield for the trailing twelve months is around 0.92%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
SPY5.L State Street SPDR S&P 500 UCITS ETF (Dist) | 0.92% | 0.97% | 1.06% | 1.19% | 1.40% | 0.99% | 1.28% | 1.44% | 0.40% | 1.14% | 1.64% | 1.73% |
Frequently Asked Questions
SPMV.L and SPY5.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPY5.L is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY5.L is cheaper with a 0.03% expense ratio, compared with 0.20% for SPMV.L.
SPMV.L tracks S&P 500 Minimum Volatility Net in USD, while SPY5.L tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for SPMV.L and 0.03% for SPY5.L.
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