UBVLX vs. WFSPX

Last updated Jun 5, 2026

UBVLX (Undiscovered Managers Behavioral Value Fund) and WFSPX (iShares S&P 500 Index Fund) are both mutual funds - UBVLX is a Small Cap Value Equities fund managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, UBVLX returned 9.92%/yr vs 15.46%/yr for WFSPX. A 0.79 correlation means they provide meaningful diversification when combined. UBVLX charges 0.90%/yr vs 0.03%/yr for WFSPX.

Performance

UBVLX vs. WFSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Undiscovered Managers Behavioral Value Fund (UBVLX) and iShares S&P 500 Index Fund (WFSPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UBVLX achieves a 6.45% return, which is significantly lower than WFSPX's 10.87% return. Over the past 10 years, UBVLX has underperformed WFSPX with an annualized return of 9.92%, while WFSPX has yielded a comparatively higher 15.46% annualized return.

UBVLX

• 1D: -0.99%
• 1M: -0.00%
• YTD: 6.45%
• 6M: 7.87%
• 1Y: 14.44%
• 3Y*: 12.46%
• 5Y*: 7.07%
• 10Y*: 9.92%

WFSPX

• 1D: -0.74%
• 1M: 4.17%
• YTD: 10.87%
• 6M: 10.77%
• 1Y: 27.97%
• 3Y*: 22.41%
• 5Y*: 13.88%
• 10Y*: 15.46%

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

UBVLX vs. WFSPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UBVLX Undiscovered Managers Behavioral Value Fund	6.45%	1.79%	13.11%	14.69%	-1.16%	34.25%	3.52%	23.27%	-15.23%	13.43%
WFSPX iShares S&P 500 Index Fund	10.87%	17.83%	24.94%	26.25%	-18.14%	28.63%	18.43%	31.45%	-4.83%	21.27%

Correlation

The correlation between UBVLX and WFSPX is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Dec 29, 1998	0.79

Over the past year, the correlation between UBVLX and WFSPX has dropped to 0.56 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

Return for Risk

UBVLX vs. WFSPX — Risk / Return Rank

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

UBVLX

UBVLX Risk / Return Rank: 12
UBVLX Sharpe Ratio Rank: 10
UBVLX Sortino Ratio Rank: 12
UBVLX Omega Ratio Rank: 10
UBVLX Calmar Ratio Rank: 15
UBVLX Martin Ratio Rank: 13

WFSPX

WFSPX Risk / Return Rank: 66
WFSPX Sharpe Ratio Rank: 64
WFSPX Sortino Ratio Rank: 59
WFSPX Omega Ratio Rank: 60
WFSPX Calmar Ratio Rank: 67
WFSPX Martin Ratio Rank: 79

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.

UBVLX vs. WFSPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Undiscovered Managers Behavioral Value Fund (UBVLX) and iShares S&P 500 Index Fund (WFSPX). 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.

	UBVLX	WFSPX	Difference
Sharpe ratio: Return per unit of total volatility	0.82	2.37	-1.54
Sortino ratio: Return per unit of downside risk	1.35	3.24	-1.88
Omega ratio: Gain probability vs. loss probability	1.15	1.43	-0.28
Calmar ratio: Return relative to maximum drawdown	1.33	3.16	-1.83
Martin ratio: Return relative to average drawdown	3.69	14.75	-11.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UBVLX vs. WFSPX - Sharpe Ratio Comparison

The current UBVLX Sharpe Ratio is 0.82, which is lower than the WFSPX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of UBVLX and WFSPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UBVLX	WFSPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	2.37	-1.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.83	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.86	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.13	+0.34

Drawdowns

UBVLX vs. WFSPX - Drawdown Comparison

The maximum UBVLX drawdown since its inception was -67.24%, which is greater than WFSPX's maximum drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for UBVLX and WFSPX.

Drawdown Indicators

	UBVLX	WFSPX	Difference
Max Drawdown Largest peak-to-trough decline	-67.24%	-58.21%	-9.03%
Max Drawdown (1Y) Largest decline over 1 year	-10.32%	-8.90%	-1.42%
Max Drawdown (3Y) Largest decline over 3 years	-21.46%	-18.74%	-2.72%
Max Drawdown (5Y) Largest decline over 5 years	-21.46%	-24.51%	+3.05%
Max Drawdown (10Y) Largest decline over 10 years	-52.08%	-33.74%	-18.34%
Current Drawdown Current decline from peak	-3.05%	-0.74%	-2.31%
Average Drawdown Average peak-to-trough decline	-9.27%	-12.77%	+3.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.72%	1.90%	+1.82%

Volatility

UBVLX vs. WFSPX - Volatility Comparison

Undiscovered Managers Behavioral Value Fund (UBVLX) has a higher volatility of 4.28% compared to iShares S&P 500 Index Fund (WFSPX) at 2.92%. This indicates that UBVLX's price experiences larger fluctuations and is considered to be riskier than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UBVLX	WFSPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	2.92%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	10.82%	8.99%	+1.83%
Volatility (1Y) Calculated over the trailing 1-year period	16.70%	11.88%	+4.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.34%	16.88%	+3.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.61%	18.02%	+6.59%

UBVLX vs. WFSPX - Expense Ratio Comparison

UBVLX has a 0.90% expense ratio, which is higher than WFSPX's 0.03% expense ratio.

Dividends

UBVLX vs. WFSPX - Dividend Comparison

UBVLX's dividend yield for the trailing twelve months is around 8.84%, more than WFSPX's 1.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UBVLX Undiscovered Managers Behavioral Value Fund	8.84%	9.41%	7.39%	8.35%	8.96%	3.44%	0.99%	4.98%	11.62%	4.67%	3.24%	3.80%
WFSPX iShares S&P 500 Index Fund	1.58%	1.72%	1.41%	1.50%	2.02%	1.82%	1.66%	1.99%	2.00%	1.62%	2.37%	2.49%

Frequently Asked Questions

Can I hold both UBVLX and WFSPX in my portfolio?

UBVLX and WFSPX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UBVLX or WFSPX?

UBVLX has higher volatility (4.28%) compared to WFSPX (2.92%). In terms of maximum drawdown, UBVLX dropped -67.24% vs WFSPX's -58.21%.

Which has better risk-adjusted returns?

WFSPX currently has the higher Sharpe Ratio (2.37 vs 0.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.