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UKDV.L vs. MVED.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UKDV.L vs. MVED.L

Last updated Jun 5, 2026

UKDV.L (SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist)) and MVED.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)) are both Europe Equities funds - UKDV.L tracks the FTSE AllSh TR GBP while MVED.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, UKDV.L returned 7.70%/yr vs 6.21%/yr for MVED.L. A 0.66 correlation means they provide meaningful diversification when combined. UKDV.L charges 0.30%/yr vs 0.25%/yr for MVED.L.

Performance

UKDV.L vs. MVED.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist) (UKDV.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

UKDV.L is traded in GBP, while MVED.L is traded in EUR. To make them comparable, the MVED.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, UKDV.L achieves a 6.02% return, which is significantly higher than MVED.L's 3.88% return.

UKDV.L

1D
2.06%
1M
3.28%
YTD
6.02%
6M
8.54%
1Y
16.24%
3Y*
12.50%
5Y*
7.70%
10Y*
5.20%

MVED.L

1D
0.45%
1M
0.80%
YTD
3.88%
6M
4.77%
1Y
5.26%
3Y*
8.28%
5Y*
6.21%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

UKDV.L vs. MVED.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
UKDV.L
SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist)		6.02%17.63%11.01%6.36%-7.44%14.90%-16.96%35.13%-8.36%
MVED.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)		3.88%14.60%3.94%8.51%-8.08%14.30%1.58%15.71%0.07%

Correlation

The correlation between UKDV.L and MVED.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

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

0.59

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

0.66

Correlation (All Time)
Calculated using the full available price history since Mar 1, 2018

0.66

The correlation between UKDV.L and MVED.L shifts across timeframes, from 0.49 (1 year) to 0.66 (5 years), reflecting how their relationship changes across market environments.

UKDV.L vs. MVED.L - Sectors Allocation Comparison

Sectors
UKDV.L
MVED.L

Financial Services

33.0%
17.8%

Industrials

19.8%
15.7%

Consumer Defensive

11.9%
13.2%

Real Estate

11.2%
1.6%

Healthcare

7.0%
13.1%

Consumer Cyclical

5.8%
3.7%

Utilities

4.7%
10.1%

Basic Materials

3.1%
5.7%

Communication Services

2.6%
9.5%

Technology

1.1%
2.8%

Energy

-

6.9%

Financial Services

UKDV.L
33.0%
MVED.L
17.8%

Industrials

UKDV.L
19.8%
MVED.L
15.7%

Consumer Defensive

UKDV.L
11.9%
MVED.L
13.2%

Real Estate

UKDV.L
11.2%
MVED.L
1.6%

Healthcare

UKDV.L
7.0%
MVED.L
13.1%

Consumer Cyclical

UKDV.L
5.8%
MVED.L
3.7%

Utilities

UKDV.L
4.7%
MVED.L
10.1%

Basic Materials

UKDV.L
3.1%
MVED.L
5.7%

Communication Services

UKDV.L
2.6%
MVED.L
9.5%

Technology

UKDV.L
1.1%
MVED.L
2.8%

Energy

UKDV.L

-

MVED.L
6.9%

Compare stocks, funds, or ETFs

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SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist)

iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)

Often compared with UKDV.L:
UKDV.L vs. IUKD.LUKDV.L vs. SCHDUKDV.L vs. VHYG.LUKDV.L vs. ISF.LUKDV.L vs. VGOV.LUKDV.L vs. LDEG.LUKDV.L vs. VUKE.L
Often compared with MVED.L:
MVED.L vs. MIVO.LMVED.L vs. CSPX.LMVED.L vs. PRUK.LMVED.L vs. WDEP.LMVED.L vs. OPEN.LMVED.L vs. EDIV.LMVED.L vs. FKU.L

Return for Risk

UKDV.L vs. MVED.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UKDV.L
UKDV.L Risk / Return Rank: 3333
Overall Rank
UKDV.L Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
UKDV.L Sortino Ratio Rank: 3333
Sortino Ratio Rank
UKDV.L Omega Ratio Rank: 3333
Omega Ratio Rank
UKDV.L Calmar Ratio Rank: 3232
Calmar Ratio Rank
UKDV.L Martin Ratio Rank: 3636
Martin Ratio Rank
MVED.L
MVED.L Risk / Return Rank: 1313
Overall Rank
MVED.L Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
MVED.L Sortino Ratio Rank: 1212
Sortino Ratio Rank
MVED.L Omega Ratio Rank: 1313
Omega Ratio Rank
MVED.L Calmar Ratio Rank: 1313
Calmar Ratio Rank
MVED.L Martin Ratio Rank: 1313
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.

UKDV.L vs. MVED.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist) (UKDV.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.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.

UKDV.LMVED.LDifference
Sharpe ratioReturn per unit of total volatility
1.20
0.57

+0.63

Sortino ratioReturn per unit of downside risk
1.75
0.83

+0.93

Omega ratioGain probability vs. loss probability

1.22

1.11

+0.11

Calmar ratioReturn relative to maximum drawdown

1.57

0.63

+0.93

Martin ratioReturn relative to average drawdown

5.36

1.79

+3.57

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

UKDV.L vs. MVED.L - Sharpe Ratio Comparison

The current UKDV.L Sharpe Ratio is 1.20, which is higher than the MVED.L Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of UKDV.L and MVED.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

UKDV.LMVED.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.20

0.57

+0.63

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

0.55

-0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.33

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

0.49

-0.07

Drawdowns

UKDV.L vs. MVED.L - Drawdown Comparison

The maximum UKDV.L drawdown since its inception was -38.04%, which is greater than MVED.L's maximum drawdown of -24.31%. Use the drawdown chart below to compare losses from any high point for UKDV.L and MVED.L.

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Drawdown Indicators

UKDV.LMVED.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.04%

-24.31%

-13.73%

Max Drawdown (1Y)

Largest decline over 1 year

-10.32%

-8.28%

-2.04%

Max Drawdown (3Y)

Largest decline over 3 years

-12.84%

-8.28%

-4.56%

Max Drawdown (5Y)

Largest decline over 5 years

-18.19%

-17.36%

-0.83%

Max Drawdown (10Y)

Largest decline over 10 years

-38.04%

—

—

Current Drawdown

Current decline from peak

-1.65%

-5.32%

+3.67%

Average Drawdown

Average peak-to-trough decline

-7.05%

-4.10%

-2.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.02%

2.94%

+0.08%

Volatility

UKDV.L vs. MVED.L - Volatility Comparison

SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist) (UKDV.L) has a higher volatility of 4.77% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.L) at 2.98%. This indicates that UKDV.L's price experiences larger fluctuations and is considered to be riskier than MVED.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UKDV.LMVED.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.77%

2.98%

+1.79%

Volatility (6M)

Calculated over the trailing 6-month period

11.53%

7.68%

+3.85%

Volatility (1Y)

Calculated over the trailing 1-year period

13.50%

9.18%

+4.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.16%

11.29%

+2.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.84%

12.95%

+2.89%

UKDV.L vs. MVED.L - Expense Ratio Comparison

UKDV.L has a 0.30% expense ratio, which is higher than MVED.L's 0.25% expense ratio.

Dividends

UKDV.L vs. MVED.L - Dividend Comparison

UKDV.L's dividend yield for the trailing twelve months is around 3.96%, while MVED.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
MVED.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)		0.00%0.00%0.00%2.67%2.95%2.16%2.54%2.81%2.50%0.00%0.00%0.00%
UKDV.L
SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist)		3.96%4.23%4.03%4.21%5.24%4.25%3.58%5.99%5.23%4.32%5.16%5.49%

Frequently Asked Questions

UKDV.L and MVED.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, MVED.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MVED.L is cheaper with a 0.25% expense ratio, compared with 0.30% for UKDV.L.

UKDV.L tracks FTSE AllSh TR GBP, while MVED.L tracks MSCI Europe NR EUR. They also come from different issuers: State Street and BlackRock. Their fees differ too: 0.30% for UKDV.L and 0.25% for MVED.L.

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