SPMV.L vs. SPYL.L
SPMV.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) and SPYL.L (SPDR S&P 500 UCITS ETF USD Acc) are both S&P 500 funds - SPMV.L tracks the S&P 500 Minimum Volatility Net in USD while SPYL.L tracks the S&P 500. Both are passively managed. Over the past year, SPMV.L returned 10.52% vs 20.00% for SPYL.L. Their correlation of 0.81 suggests significant overlap in exposure. SPMV.L charges 0.20%/yr vs 0.03%/yr for SPYL.L.
Performance
SPMV.L vs. SPYL.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPMV.L achieves a 4.24% return, which is significantly lower than SPYL.L's 9.03% 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%
SPYL.L
- 1D
- -1.23%
- 1M
- -0.54%
- 6M
- 8.01%
- YTD
- 9.03%
- 1Y
- 20.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPMV.L vs. SPYL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) | 4.24% | 11.55% | 18.68% | 12.15% |
SPYL.L SPDR S&P 500 UCITS ETF USD Acc | 9.03% | 17.38% | 25.35% | 14.40% |
Correlation
The correlation between SPMV.L and SPYL.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 (All Time) Calculated using the full available price history since Oct 31, 2023 | 0.81 |
The correlation between SPMV.L and SPYL.L has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.
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Return for Risk
SPMV.L vs. SPYL.L — Risk / Return Rank
SPMV.L
SPYL.L
SPMV.L vs. SPYL.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 SPDR S&P 500 UCITS ETF USD Acc (SPYL.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 | SPYL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.30 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 2.45 | -0.76 |
| Martin ratioReturn relative to average drawdown | 6.62 | 9.84 | -3.23 |
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Drawdowns
SPMV.L vs. SPYL.L - Drawdown Comparison
The maximum SPMV.L drawdown since its inception was -33.34%, which is greater than SPYL.L's maximum drawdown of -20.80%. Use the drawdown chart below to compare losses from any high point for SPMV.L and SPYL.L.
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Drawdown Indicators
| SPMV.L | SPYL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.34% | -20.80% | -12.54% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -8.14% | +1.91% |
Max Drawdown (3Y)Largest decline over 3 years | -12.31% | — | — |
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% | -1.70% | +0.95% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -1.78% | -1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 2.03% | -0.44% |
Volatility
SPMV.L vs. SPYL.L - Volatility Comparison
The current volatility for iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L) is 1.82%, while SPDR S&P 500 UCITS ETF USD Acc (SPYL.L) has a volatility of 2.98%. This indicates that SPMV.L experiences smaller price fluctuations and is considered to be less risky than SPYL.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 | SPYL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 2.98% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 6.37% | 9.29% | -2.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.50% | 11.99% | -3.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.67% | 24.53% | -11.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.77% | 24.53% | -10.76% |
SPMV.L vs. SPYL.L - Expense Ratio Comparison
SPMV.L has a 0.20% expense ratio, which is higher than SPYL.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. SPYL.L - Dividend Comparison
Neither SPMV.L nor SPYL.L has paid dividends to shareholders.
Frequently Asked Questions
SPMV.L and SPYL.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, SPYL.L is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.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 SPYL.L tracks S&P 500. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for SPMV.L and 0.03% for SPYL.L.
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