SPX4.L vs. IUSZ.L
SPX4.L (SPDR S&P 400 US Mid Cap UCITS ETF) and IUSZ.L (iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc)) are both Mid Cap Blend Equities funds - SPX4.L tracks the Russell Mid Cap TR USD while IUSZ.L tracks the MSCI USA Mid-Cap Equal Weighted Index. Both are passively managed. Over the past 5 years, SPX4.L returned 2.49%/yr vs 7.13%/yr for IUSZ.L. A 0.64 correlation means they provide meaningful diversification when combined. SPX4.L charges 0.30%/yr vs 0.20%/yr for IUSZ.L.
Performance
SPX4.L vs. IUSZ.L - Performance Comparison
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Different Trading Currencies
SPX4.L is traded in GBP, while IUSZ.L is traded in USD. To make them comparable, the IUSZ.L 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 14.27% return, which is significantly higher than IUSZ.L's 8.97% return.
SPX4.L
- 1D
- 0.00%
- 1M
- -1.08%
- 6M
- 7.82%
- YTD
- 14.27%
- 1Y
- 20.65%
- 3Y*
- 11.74%
- 5Y*
- 2.49%
- 10Y*
- 7.27%
IUSZ.L
- 1D
- -0.28%
- 1M
- -0.71%
- 6M
- 4.89%
- YTD
- 8.97%
- 1Y
- 14.13%
- 3Y*
- 10.58%
- 5Y*
- 7.13%
- 10Y*
- —
SPX4.L vs. IUSZ.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPX4.L SPDR S&P 400 US Mid Cap UCITS ETF | 14.27% | 0.12% | 14.37% | 10.71% | -28.36% | 24.10% | 12.97% | 25.47% | -11.60% | 15.60% |
IUSZ.L iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc) | 8.97% | 0.85% | 14.70% | 11.34% | -8.54% | 27.24% | 14.22% | 23.08% | -4.68% | 7.06% |
Correlation
The correlation between SPX4.L and IUSZ.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 | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2016 | 0.64 |
The correlation between SPX4.L and IUSZ.L shifts across timeframes, from 0.64 (all time) to 0.87 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPX4.L vs. IUSZ.L — Risk / Return Rank
SPX4.L
IUSZ.L
SPX4.L vs. IUSZ.L - 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 MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc) (IUSZ.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.
| SPX4.L | IUSZ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.20 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 1.97 | +1.16 |
| Martin ratioReturn relative to average drawdown | 9.93 | 5.72 | +4.21 |
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Drawdowns
SPX4.L vs. IUSZ.L - Drawdown Comparison
The maximum SPX4.L drawdown since its inception was -42.03%, which is greater than IUSZ.L's maximum drawdown of -34.01%. Use the drawdown chart below to compare losses from any high point for SPX4.L and IUSZ.L.
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Drawdown Indicators
| SPX4.L | IUSZ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.03% | -34.01% | -8.02% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -7.15% | +0.52% |
Max Drawdown (3Y)Largest decline over 3 years | -26.24% | -22.93% | -3.31% |
Max Drawdown (5Y)Largest decline over 5 years | -37.77% | -22.93% | -14.84% |
Max Drawdown (10Y)Largest decline over 10 years | -42.03% | — | — |
Current DrawdownCurrent decline from peak | -2.75% | -2.54% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -8.82% | -5.79% | -3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 2.47% | -0.38% |
Volatility
SPX4.L vs. IUSZ.L - Volatility Comparison
SPDR S&P 400 US Mid Cap UCITS ETF (SPX4.L) and iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc) (IUSZ.L) have volatilities of 4.48% and 4.27%, 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 | IUSZ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.48% | 4.27% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 10.36% | 9.73% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.75% | 12.55% | +1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.63% | 17.12% | +3.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.35% | 20.51% | +0.84% |
SPX4.L vs. IUSZ.L - Expense Ratio Comparison
SPX4.L has a 0.30% expense ratio, which is higher than IUSZ.L's 0.20% expense ratio.
Dividends
SPX4.L vs. IUSZ.L - Dividend Comparison
SPX4.L has not paid dividends to shareholders, while IUSZ.L's dividend yield for the trailing twelve months is around 0.42%.
| Position | TTM |
|---|---|
IUSZ.L iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc) | 0.42% |
SPX4.L SPDR S&P 400 US Mid Cap UCITS ETF | 0.00% |
Frequently Asked Questions
SPX4.L and IUSZ.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, IUSZ.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSZ.L is cheaper with a 0.20% expense ratio, compared with 0.30% for SPX4.L.
SPX4.L tracks Russell Mid Cap TR USD, while IUSZ.L tracks MSCI USA Mid-Cap Equal Weighted Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for SPX4.L and 0.20% for IUSZ.L.
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