SPX4.L vs. IJH
SPX4.L (SPDR S&P 400 US Mid Cap UCITS ETF) and IJH (iShares Core S&P Mid-Cap ETF) are both Mid Cap Blend Equities funds - SPX4.L tracks the Russell Mid Cap TR USD while IJH tracks the S&P MidCap 400 Index. Both are passively managed. Over the past 3 years, SPX4.L returned 13.07%/yr vs 13.75%/yr for IJH. A 0.64 correlation means they provide meaningful diversification when combined. SPX4.L charges 0.30%/yr vs 0.05%/yr for IJH.
Performance
SPX4.L vs. IJH - Performance Comparison
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Different Trading Currencies
SPX4.L is traded in GBP, while IJH is traded in USD. To make them comparable, the IJH values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPX4.L achieves a 13.69% return, which is significantly lower than IJH's 15.07% return.
SPX4.L
- 1D
- 0.40%
- 1M
- 4.30%
- YTD
- 13.69%
- 6M
- 13.60%
- 1Y
- 26.50%
- 3Y*
- 13.07%
- 5Y*
- —
- 10Y*
- —
IJH
- 1D
- 0.44%
- 1M
- 3.93%
- YTD
- 15.07%
- 6M
- 13.47%
- 1Y
- 27.46%
- 3Y*
- 13.75%
- 5Y*
- 9.43%
- 10Y*
- 12.06%
SPX4.L vs. IJH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPX4.L SPDR S&P 400 US Mid Cap UCITS ETF | 13.69% | 0.12% | 14.37% | 10.71% | -1.28% |
IJH iShares Core S&P Mid-Cap ETF | 15.07% | -0.23% | 15.91% | 10.59% | -1.36% |
Correlation
The correlation between SPX4.L and IJH is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.64 |
The correlation between SPX4.L and IJH has been stable across timeframes, ranging from 0.64 to 0.68 - a consistent structural relationship.
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Return for Risk
SPX4.L vs. IJH — Risk / Return Rank
SPX4.L
IJH
SPX4.L vs. IJH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 400 US Mid Cap UCITS ETF (SPX4.L) and iShares Core S&P Mid-Cap ETF (IJH). 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.
| SPX4.L | IJH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.33 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 3.44 | +0.54 |
| Martin ratioReturn relative to average drawdown | 12.97 | 12.41 | +0.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPX4.L | IJH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.96 | 1.86 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.51 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.54 | -0.15 |
Drawdowns
SPX4.L vs. IJH - Drawdown Comparison
The maximum SPX4.L drawdown since its inception was -26.24%, smaller than the maximum IJH drawdown of -37.62%. Use the drawdown chart below to compare losses from any high point for SPX4.L and IJH.
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Drawdown Indicators
| SPX4.L | IJH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.24% | -37.62% | +11.38% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -8.01% | +1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -26.24% | -25.31% | -0.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.31% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.46% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -7.81% | -6.29% | -1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 2.22% | -0.18% |
Volatility
SPX4.L vs. IJH - Volatility Comparison
SPDR S&P 400 US Mid Cap UCITS ETF (SPX4.L) and iShares Core S&P Mid-Cap ETF (IJH) have volatilities of 3.61% and 3.70%, 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
| SPX4.L | IJH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.61% | 3.70% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 9.44% | 10.68% | -1.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.50% | 14.82% | -1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.46% | 18.49% | +3.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.46% | 20.80% | +1.66% |
SPX4.L vs. IJH - Expense Ratio Comparison
SPX4.L has a 0.30% expense ratio, which is higher than IJH's 0.05% expense ratio.
Dividends
SPX4.L vs. IJH - Dividend Comparison
SPX4.L has not paid dividends to shareholders, while IJH's dividend yield for the trailing twelve months is around 1.18%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJH iShares Core S&P Mid-Cap ETF | 1.18% | 1.36% | 1.33% | 1.46% | 1.68% | 1.18% | 1.28% | 1.63% | 1.72% | 1.19% | 1.60% | 1.56% |
SPX4.L SPDR S&P 400 US Mid Cap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPX4.L and IJH have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IJH is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IJH is cheaper with a 0.05% expense ratio, compared with 0.30% for SPX4.L.
SPX4.L tracks Russell Mid Cap TR USD, while IJH tracks S&P MidCap 400 Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for SPX4.L and 0.05% for IJH.
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