SPX4.L vs. VHVG.L

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR S&P 400 US Mid Cap UCITS ETF (SPX4.L) and Vanguard FTSE Developed World UCITS ETF Acc (VHVG.L).

SPX4.L and VHVG.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPX4.L is a passively managed fund by State Street that tracks the performance of the Russell Mid Cap TR USD. It was launched on Jan 30, 2012. VHVG.L is a passively managed fund by Vanguard that tracks the performance of the MSCI ACWI NR USD. It was launched on Sep 24, 2019. Both SPX4.L and VHVG.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPX4.L vs. VHVG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P 400 US Mid Cap UCITS ETF (SPX4.L) and Vanguard FTSE Developed World UCITS ETF Acc (VHVG.L). The values are adjusted to include any dividend payments, if applicable.

SPX4.L vs. VHVG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SPX4.L SPDR S&P 400 US Mid Cap UCITS ETF	3.87%	0.12%	14.37%	10.71%	-1.28%
VHVG.L Vanguard FTSE Developed World UCITS ETF Acc	-0.63%	13.85%	19.99%	17.54%	-6.52%

Returns By Period

In the year-to-date period, SPX4.L achieves a 3.87% return, which is significantly higher than VHVG.L's -0.63% return.

SPX4.L

• 1D: 1.85%
• 1M: -3.64%
• YTD: 3.87%
• 6M: 6.37%
• 1Y: 14.08%
• 3Y*: 9.30%
• 5Y*: —
• 10Y*: —

VHVG.L

• 1D: 2.15%
• 1M: -3.55%
• YTD: -0.63%
• 6M: 3.35%
• 1Y: 18.35%
• 3Y*: 15.16%
• 5Y*: 11.38%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPX4.L vs. VHVG.L - Expense Ratio Comparison

SPX4.L has a 0.30% expense ratio, which is higher than VHVG.L's 0.12% expense ratio.

SPX4.L

SPDR S&P 400 US Mid Cap UCITS ETF

VHVG.L

Vanguard FTSE Developed World UCITS ETF Acc

Return for Risk

SPX4.L vs. VHVG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPX4.L

SPX4.L Risk / Return Rank: 48
SPX4.L Sharpe Ratio Rank: 39
SPX4.L Sortino Ratio Rank: 37
SPX4.L Omega Ratio Rank: 37
SPX4.L Calmar Ratio Rank: 71
SPX4.L Martin Ratio Rank: 54

VHVG.L

VHVG.L Risk / Return Rank: 77
VHVG.L Sharpe Ratio Rank: 73
VHVG.L Sortino Ratio Rank: 72
VHVG.L Omega Ratio Rank: 72
VHVG.L Calmar Ratio Rank: 85
VHVG.L Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPX4.L vs. VHVG.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 Vanguard FTSE Developed World UCITS ETF Acc (VHVG.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.

	SPX4.L	VHVG.L	Difference
Sharpe ratio Return per unit of total volatility	0.77	1.35	-0.57
Sortino ratio Return per unit of downside risk	1.13	1.86	-0.73
Omega ratio Gain probability vs. loss probability	1.16	1.28	-0.12
Calmar ratio Return relative to maximum drawdown	2.01	2.66	-0.65
Martin ratio Return relative to average drawdown	5.69	10.30	-4.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPX4.L vs. VHVG.L - Sharpe Ratio Comparison

The current SPX4.L Sharpe Ratio is 0.77, which is lower than the VHVG.L Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of SPX4.L and VHVG.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPX4.L	VHVG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.77	1.35	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.77	-0.47

Correlation

The correlation between SPX4.L and VHVG.L is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SPX4.L vs. VHVG.L - Dividend Comparison

Neither SPX4.L nor VHVG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

SPX4.L vs. VHVG.L - Drawdown Comparison

The maximum SPX4.L drawdown since its inception was -26.24%, roughly equal to the maximum VHVG.L drawdown of -25.41%. Use the drawdown chart below to compare losses from any high point for SPX4.L and VHVG.L.

Drawdown Indicators

	SPX4.L	VHVG.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.24%	-25.41%	-0.83%
Max Drawdown (1Y) Largest decline over 1 year	-12.82%	-9.88%	-2.94%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.96%	—
Current Drawdown Current decline from peak	-3.97%	-3.89%	-0.08%
Average Drawdown Average peak-to-trough decline	-8.09%	-3.35%	-4.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.38%	1.79%	+0.59%

Volatility

SPX4.L vs. VHVG.L - Volatility Comparison

SPDR S&P 400 US Mid Cap UCITS ETF (SPX4.L) has a higher volatility of 5.04% compared to Vanguard FTSE Developed World UCITS ETF Acc (VHVG.L) at 4.49%. This indicates that SPX4.L's price experiences larger fluctuations and is considered to be riskier than VHVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPX4.L	VHVG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	4.49%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	8.19%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	18.15%	13.62%	+4.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.79%	13.02%	+9.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.79%	15.17%	+7.62%