SPX5.L vs. SPMV.L
SPX5.L (SPDR S&P 500 UCITS ETF) and SPMV.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) are both S&P 500 funds - SPX5.L tracks the S&P 500 Index while SPMV.L tracks the S&P 500 Minimum Volatility Net in USD. Both are passively managed. Over the past 10 years, SPX5.L returned 14.33%/yr vs 9.68%/yr for SPMV.L. Their correlation of 0.83 suggests significant overlap in exposure. SPX5.L charges 0.03%/yr vs 0.20%/yr for SPMV.L.
Performance
SPX5.L vs. SPMV.L - Performance Comparison
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Different Trading Currencies
SPX5.L is traded in GBP, while SPMV.L is traded in USD. To make them comparable, the SPMV.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPX5.L achieves a 9.06% return, which is significantly higher than SPMV.L's 4.39% return. Over the past 10 years, SPX5.L has outperformed SPMV.L with an annualized return of 14.33%, while SPMV.L has yielded a comparatively lower 9.68% annualized return.
SPX5.L
- 1D
- -0.98%
- 1M
- -0.94%
- 6M
- 7.51%
- YTD
- 9.06%
- 1Y
- 19.65%
- 3Y*
- 18.28%
- 5Y*
- 13.33%
- 10Y*
- 14.33%
SPMV.L
- 1D
- -0.03%
- 1M
- -1.09%
- 6M
- 3.85%
- YTD
- 4.39%
- 1Y
- 10.21%
- 3Y*
- 11.66%
- 5Y*
- 8.78%
- 10Y*
- 9.68%
SPX5.L vs. SPMV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPX5.L SPDR S&P 500 UCITS ETF | 9.06% | 9.34% | 27.46% | 19.76% | -9.00% | 30.96% | 13.52% | 26.33% | -0.90% | 10.29% |
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) | 4.39% | 3.60% | 20.76% | 4.44% | -0.48% | 26.16% | 4.26% | 26.25% | 0.26% | 6.01% |
Correlation
The correlation between SPX5.L and SPMV.L is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2012 | 0.83 |
The correlation between SPX5.L and SPMV.L shifts across timeframes, from 0.67 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPX5.L vs. SPMV.L — Risk / Return Rank
SPX5.L
SPMV.L
SPX5.L vs. SPMV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 UCITS ETF (SPX5.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.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.
| SPX5.L | SPMV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.19 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 1.97 | +0.79 |
| Martin ratioReturn relative to average drawdown | 9.88 | 5.80 | +4.07 |
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Drawdowns
SPX5.L vs. SPMV.L - Drawdown Comparison
The maximum SPX5.L drawdown since its inception was -41.23%, which is greater than SPMV.L's maximum drawdown of -25.15%. Use the drawdown chart below to compare losses from any high point for SPX5.L and SPMV.L.
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Drawdown Indicators
| SPX5.L | SPMV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.23% | -25.15% | -16.08% |
Max Drawdown (1Y)Largest decline over 1 year | -7.07% | -5.16% | -1.91% |
Max Drawdown (3Y)Largest decline over 3 years | -20.90% | -14.55% | -6.35% |
Max Drawdown (5Y)Largest decline over 5 years | -20.90% | -14.55% | -6.35% |
Max Drawdown (10Y)Largest decline over 10 years | -25.45% | -25.15% | -0.30% |
Current DrawdownCurrent decline from peak | -1.92% | -1.54% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -7.45% | -3.39% | -4.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 1.76% | +0.22% |
Volatility
SPX5.L vs. SPMV.L - Volatility Comparison
SPDR S&P 500 UCITS ETF (SPX5.L) has a higher volatility of 2.93% compared to iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L) at 2.69%. This indicates that SPX5.L's price experiences larger fluctuations and is considered to be riskier than SPMV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPX5.L | SPMV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 2.69% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 7.80% | 7.28% | +0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.97% | 9.59% | +1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.30% | 12.68% | +1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.41% | 14.17% | +1.24% |
SPX5.L vs. SPMV.L - Expense Ratio Comparison
SPX5.L has a 0.03% expense ratio, which is lower than SPMV.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPX5.L vs. SPMV.L - Dividend Comparison
SPX5.L's dividend yield for the trailing twelve months is around 0.93%, while SPMV.L has not paid dividends to shareholders.
| 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% |
SPX5.L SPDR S&P 500 UCITS ETF | 0.93% | 0.98% | 1.03% | 1.21% | 1.39% | 0.98% | 1.40% | 1.48% | 0.78% | 1.19% | 1.49% | 1.68% |
Frequently Asked Questions
SPX5.L and SPMV.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPX5.L is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPX5.L is cheaper with a 0.03% expense ratio, compared with 0.20% for SPMV.L.
SPX5.L tracks S&P 500 Index, while SPMV.L tracks S&P 500 Minimum Volatility Net in USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.03% for SPX5.L and 0.20% for SPMV.L.
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