SPXD.L vs. SPMV.L
SPXD.L (Invesco S&P 500 UCITS ETF Dist) and SPMV.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) are both S&P 500 funds - SPXD.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 5 years, SPXD.L returned 13.00%/yr vs 8.28%/yr for SPMV.L. Their correlation of 0.88 suggests significant overlap in exposure. SPXD.L charges 0.05%/yr vs 0.20%/yr for SPMV.L.
Performance
SPXD.L vs. SPMV.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPXD.L achieves a 9.15% return, which is significantly higher than SPMV.L's 4.24% return.
SPXD.L
- 1D
- -1.11%
- 1M
- -0.39%
- 6M
- 8.14%
- YTD
- 9.15%
- 1Y
- 20.24%
- 3Y*
- 19.61%
- 5Y*
- 13.00%
- 10Y*
- —
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%
SPXD.L vs. SPMV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPXD.L Invesco S&P 500 UCITS ETF Dist | 9.15% | 17.53% | 25.57% | 26.91% | -18.51% | 29.66% | 17.86% | 14.06% |
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) | 4.24% | 11.55% | 18.68% | 9.94% | -11.05% | 24.98% | 7.41% | 12.65% |
Correlation
The correlation between SPXD.L and SPMV.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 | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2019 | 0.88 |
The correlation between SPXD.L and SPMV.L has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.
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Return for Risk
SPXD.L vs. SPMV.L — Risk / Return Rank
SPXD.L
SPMV.L
SPXD.L vs. SPMV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF Dist (SPXD.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.
| SPXD.L | SPMV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.22 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 1.68 | +0.73 |
| Martin ratioReturn relative to average drawdown | 9.92 | 6.62 | +3.31 |
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Drawdowns
SPXD.L vs. SPMV.L - Drawdown Comparison
The maximum SPXD.L drawdown since its inception was -33.98%, roughly equal to the maximum SPMV.L drawdown of -33.34%. Use the drawdown chart below to compare losses from any high point for SPXD.L and SPMV.L.
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Drawdown Indicators
| SPXD.L | SPMV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.98% | -33.34% | -0.64% |
Max Drawdown (1Y)Largest decline over 1 year | -8.35% | -6.23% | -2.12% |
Max Drawdown (3Y)Largest decline over 3 years | -18.30% | -12.31% | -5.99% |
Max Drawdown (5Y)Largest decline over 5 years | -24.18% | -18.58% | -5.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.34% | — |
Current DrawdownCurrent decline from peak | -1.67% | -0.75% | -0.92% |
Average DrawdownAverage peak-to-trough decline | -5.01% | -3.13% | -1.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 1.59% | +0.45% |
Volatility
SPXD.L vs. SPMV.L - Volatility Comparison
Invesco S&P 500 UCITS ETF Dist (SPXD.L) has a higher volatility of 3.15% compared to iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L) at 1.82%. This indicates that SPXD.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
| SPXD.L | SPMV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.15% | 1.82% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 9.28% | 6.37% | +2.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.02% | 8.50% | +3.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.93% | 12.67% | +3.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.63% | 13.77% | +3.86% |
SPXD.L vs. SPMV.L - Expense Ratio Comparison
SPXD.L has a 0.05% 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
SPXD.L vs. SPMV.L - Dividend Comparison
SPXD.L's dividend yield for the trailing twelve months is around 1.12%, while SPMV.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
SPXD.L Invesco S&P 500 UCITS ETF Dist | 1.12% | 1.16% | 1.31% | 1.51% | 1.68% | 1.30% | 1.52% | 1.41% |
Frequently Asked Questions
SPXD.L and SPMV.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, SPXD.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXD.L is cheaper with a 0.05% expense ratio, compared with 0.20% for SPMV.L.
SPXD.L tracks S&P 500 Index, while SPMV.L tracks S&P 500 Minimum Volatility Net in USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.05% for SPXD.L and 0.20% for SPMV.L.
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