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UC96.L vs. SPMD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UC96.L vs. SPMD.L

Last updated Jun 5, 2026

UC96.L (UBS ETF (IE) Factor MSCI USA Prime Value UCITS ETF (USD) A-dis) and SPMD.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)) are both exchange-traded funds - UC96.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD, while SPMD.L is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index. Both are passively managed. Over the past 5 years, UC96.L returned 8.01%/yr vs 10.08%/yr for SPMD.L. A 0.76 correlation means they provide meaningful diversification when combined. UC96.L charges 0.25%/yr vs 0.20%/yr for SPMD.L.

Performance

UC96.L vs. SPMD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (IE) Factor MSCI USA Prime Value UCITS ETF (USD) A-dis (UC96.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) (SPMD.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

UC96.L is traded in GBp, while SPMD.L is traded in USD. To make them comparable, the SPMD.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, UC96.L achieves a 6.54% return, which is significantly higher than SPMD.L's 4.59% return.

UC96.L

1D
0.76%
1M
4.51%
YTD
6.54%
6M
6.76%
1Y
19.26%
3Y*
9.16%
5Y*
8.01%
10Y*
10.91%

SPMD.L

1D
0.15%
1M
4.71%
YTD
4.59%
6M
4.74%
1Y
12.46%
3Y*
10.96%
5Y*
10.08%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

UC96.L vs. SPMD.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
UC96.L
UBS ETF (IE) Factor MSCI USA Prime Value UCITS ETF (USD) A-dis		6.54%3.55%8.94%8.61%1.61%29.15%1.32%19.93%0.68%
SPMD.L
iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)		4.59%3.61%20.77%4.38%-0.37%26.11%4.44%25.95%4.53%

Correlation

The correlation between UC96.L and SPMD.L is 0.66, 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

0.66

Correlation (3Y)
Calculated over the trailing 3-year period

0.72

Correlation (5Y)
Calculated over the trailing 5-year period

0.73

Correlation (All Time)
Calculated using the full available price history since Feb 26, 2018

0.76

The correlation between UC96.L and SPMD.L has been stable across timeframes, ranging from 0.66 to 0.76 - a consistent structural relationship.

UC96.L vs. SPMD.L - Sectors Allocation Comparison

Sectors
UC96.L
SPMD.L

Technology

21.1%
29.0%

Industrials

19.5%
5.7%

Healthcare

19.0%
13.3%

Financial Services

18.7%
17.8%

Basic Materials

5.7%
2.3%

Consumer Defensive

5.2%
10.4%

Communication Services

4.3%
6.5%

Consumer Cyclical

4.0%
6.9%

Energy

1.9%
5.2%

Utilities

0.5%
2.9%

Real Estate

-

0.2%

Technology

UC96.L
21.1%
SPMD.L
29.0%

Industrials

UC96.L
19.5%
SPMD.L
5.7%

Healthcare

UC96.L
19.0%
SPMD.L
13.3%

Financial Services

UC96.L
18.7%
SPMD.L
17.8%

Basic Materials

UC96.L
5.7%
SPMD.L
2.3%

Consumer Defensive

UC96.L
5.2%
SPMD.L
10.4%

Communication Services

UC96.L
4.3%
SPMD.L
6.5%

Consumer Cyclical

UC96.L
4.0%
SPMD.L
6.9%

Energy

UC96.L
1.9%
SPMD.L
5.2%

Utilities

UC96.L
0.5%
SPMD.L
2.9%

Real Estate

UC96.L

-

SPMD.L
0.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

UBS ETF (IE) Factor MSCI USA Prime Value UCITS ETF (USD) A-dis

iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)

Often compared with UC96.L:
UC96.L vs. VEUA.LUC96.L vs. NASL.LUC96.L vs. MXUS.LUC96.L vs. IEFV.LUC96.L vs. VWRP.LUC96.L vs. EQQQ.LUC96.L vs. USSC.L
Often compared with SPMD.L:
SPMD.L vs. VOOSPMD.L vs. VUAG.LSPMD.L vs. LGLVSPMD.L vs. SPYSPMD.L vs. VTISPMD.L vs. USMVSPMD.L vs. CSPX.L

Return for Risk

UC96.L vs. SPMD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UC96.L
UC96.L Risk / Return Rank: 5454
Overall Rank
UC96.L Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
UC96.L Sortino Ratio Rank: 5555
Sortino Ratio Rank
UC96.L Omega Ratio Rank: 5151
Omega Ratio Rank
UC96.L Calmar Ratio Rank: 5757
Calmar Ratio Rank
UC96.L Martin Ratio Rank: 5353
Martin Ratio Rank
SPMD.L
SPMD.L Risk / Return Rank: 4040
Overall Rank
SPMD.L Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
SPMD.L Sortino Ratio Rank: 4141
Sortino Ratio Rank
SPMD.L Omega Ratio Rank: 3838
Omega Ratio Rank
SPMD.L Calmar Ratio Rank: 3737
Calmar Ratio Rank
SPMD.L Martin Ratio Rank: 4444
Martin Ratio Rank
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.

UC96.L vs. SPMD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) Factor MSCI USA Prime Value UCITS ETF (USD) A-dis (UC96.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) (SPMD.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.

UC96.LSPMD.LDifference
Sharpe ratioReturn per unit of total volatility
1.80
1.33

+0.48

Sortino ratioReturn per unit of downside risk
2.59
1.89

+0.70

Omega ratioGain probability vs. loss probability

1.32

1.24

+0.08

Calmar ratioReturn relative to maximum drawdown

2.79

2.43

+0.36

Martin ratioReturn relative to average drawdown

9.08

7.18

+1.90

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UC96.L vs. SPMD.L - Sharpe Ratio Comparison

The current UC96.L Sharpe Ratio is 1.80, which is higher than the SPMD.L Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of UC96.L and SPMD.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

UC96.LSPMD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.80

1.33

+0.48

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.57

0.80

-0.23

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.73

0.74

-0.02

Drawdowns

UC96.L vs. SPMD.L - Drawdown Comparison

The maximum UC96.L drawdown since its inception was -27.20%, which is greater than SPMD.L's maximum drawdown of -25.24%. Use the drawdown chart below to compare losses from any high point for UC96.L and SPMD.L.

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Drawdown Indicators

UC96.LSPMD.LDifference

Max Drawdown

Largest peak-to-trough decline

-27.20%

-25.24%

-1.96%

Max Drawdown (1Y)

Largest decline over 1 year

-6.87%

-5.10%

-1.77%

Max Drawdown (3Y)

Largest decline over 3 years

-19.43%

-14.40%

-5.03%

Max Drawdown (5Y)

Largest decline over 5 years

-19.43%

-14.40%

-5.03%

Max Drawdown (10Y)

Largest decline over 10 years

-27.20%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.30%

-3.86%

-0.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.12%

1.73%

+0.39%

Volatility

UC96.L vs. SPMD.L - Volatility Comparison

UBS ETF (IE) Factor MSCI USA Prime Value UCITS ETF (USD) A-dis (UC96.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) (SPMD.L) have volatilities of 2.93% and 2.89%, 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

UC96.LSPMD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.93%

2.89%

+0.04%

Volatility (6M)

Calculated over the trailing 6-month period

7.52%

6.94%

+0.58%

Volatility (1Y)

Calculated over the trailing 1-year period

10.64%

9.35%

+1.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.04%

12.64%

+1.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.94%

14.70%

+1.24%

UC96.L vs. SPMD.L - Expense Ratio Comparison

UC96.L has a 0.25% expense ratio, which is higher than SPMD.L's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

UC96.L vs. SPMD.L - Dividend Comparison

UC96.L's dividend yield for the trailing twelve months is around 0.01%, less than SPMD.L's 1.16% yield.

PositionTTM2025202420232022202120202019201820172016
SPMD.L
iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)		1.16%1.15%1.28%1.46%1.35%1.27%1.54%1.52%1.13%0.00%0.00%
UC96.L
UBS ETF (IE) Factor MSCI USA Prime Value UCITS ETF (USD) A-dis		0.01%0.01%0.01%0.78%0.02%0.02%0.02%0.01%0.02%0.02%0.01%

Frequently Asked Questions

UC96.L and SPMD.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPMD.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPMD.L is cheaper with a 0.20% expense ratio, compared with 0.25% for UC96.L.

UC96.L is categorized as Large Cap Value Equities, while SPMD.L is S&P 500. UC96.L tracks Russell 1000 Value TR USD, while SPMD.L tracks S&P 500 Minimum Volatility Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.25% for UC96.L and 0.20% for SPMD.L.

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