USDV.L vs. G500.L

Last updated Jul 18, 2026

USDV.L (SPDR S&P US Dividend Aristocrats UCITS ETF Dis) and G500.L (Invesco S&P 500 UCITS ETF GBP Hedged (Acc)) are both exchange-traded funds - USDV.L is a Large Cap Blend Equities fund tracking the S&P High Yield Dividend Aristocrats Index, while G500.L is a US Equities fund tracking the S&P 500 GBP Daily Hedged Index. Both are passively managed. Over the past 5 years, USDV.L returned 7.75%/yr vs 11.89%/yr for G500.L. At a 0.40 correlation, their price movements are largely independent. USDV.L charges 0.35%/yr vs 0.05%/yr for G500.L.

Performance

USDV.L vs. G500.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P US Dividend Aristocrats UCITS ETF Dis (USDV.L) and Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

USDV.L is traded in GBP, while G500.L is traded in GBp. To make them comparable, the G500.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, USDV.L achieves a 12.41% return, which is significantly higher than G500.L's 8.63% return.

USDV.L

• 1D: 0.60%
• 1M: 2.39%
• 6M: 7.15%
• YTD: 12.41%
• 1Y: 14.87%
• 3Y*: 9.07%
• 5Y*: 7.75%
• 10Y*: 8.62%

G500.L

• 1D: -1.25%
• 1M: -0.62%
• 6M: 7.69%
• YTD: 8.63%
• 1Y: 19.40%
• 3Y*: 18.98%
• 5Y*: 11.89%
• 10Y*: —

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

USDV.L vs. G500.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
USDV.L SPDR S&P US Dividend Aristocrats UCITS ETF Dis	12.41%	1.15%	9.34%	-3.51%	11.56%	26.74%	6.59%
G500.L Invesco S&P 500 UCITS ETF GBP Hedged (Acc)	8.63%	17.45%	24.98%	24.88%	-19.98%	28.95%	20.65%

Correlation

The correlation between USDV.L and G500.L is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020	0.40

Over the past year, the correlation between USDV.L and G500.L has dropped to 0.01 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

Return for Risk

USDV.L vs. G500.L — Risk / Return Rank

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

USDV.L

USDV.L Risk / Return Rank: 55
USDV.L Sharpe Ratio Rank: 59
USDV.L Sortino Ratio Rank: 60
USDV.L Omega Ratio Rank: 54
USDV.L Calmar Ratio Rank: 56
USDV.L Martin Ratio Rank: 44

G500.L

G500.L Risk / Return Rank: 67
G500.L Sharpe Ratio Rank: 65
G500.L Sortino Ratio Rank: 70
G500.L Omega Ratio Rank: 64
G500.L Calmar Ratio Rank: 63
G500.L Martin Ratio Rank: 71

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.

USDV.L vs. G500.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P US Dividend Aristocrats UCITS ETF Dis (USDV.L) and Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.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.

	USDV.L	G500.L	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.60	-0.03
Sortino ratio: Return per unit of downside risk	2.26	2.40	-0.14
Omega ratio: Gain probability vs. loss probability	1.27	1.29	-0.02
Calmar ratio: Return relative to maximum drawdown	2.24	2.35	-0.11
Martin ratio: Return relative to average drawdown	5.70	9.47	-3.77

USDV.L vs. G500.L - Sharpe Ratio Comparison

The current USDV.L Sharpe Ratio is 1.57, which is comparable to the G500.L Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of USDV.L and G500.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.

Drawdowns

USDV.L vs. G500.L - Drawdown Comparison

The maximum USDV.L drawdown since its inception was -37.29%, which is greater than G500.L's maximum drawdown of -25.20%. Use the drawdown chart below to compare losses from any high point for USDV.L and G500.L.

Drawdown Indicators

	USDV.L	G500.L	Difference
Max Drawdown Largest peak-to-trough decline	-37.29%	-25.20%	-12.09%
Max Drawdown (1Y) Largest decline over 1 year	-6.60%	-8.21%	+1.61%
Max Drawdown (3Y) Largest decline over 3 years	-16.30%	-18.22%	+1.92%
Max Drawdown (5Y) Largest decline over 5 years	-16.30%	-25.20%	+8.90%
Max Drawdown (10Y) Largest decline over 10 years	-27.79%	—	—
Current Drawdown Current decline from peak	-0.70%	-1.81%	+1.11%
Average Drawdown Average peak-to-trough decline	-7.42%	-5.31%	-2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	2.04%	+0.56%

Volatility

USDV.L vs. G500.L - Volatility Comparison

SPDR S&P US Dividend Aristocrats UCITS ETF Dis (USDV.L) has a higher volatility of 3.34% compared to Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.L) at 3.04%. This indicates that USDV.L's price experiences larger fluctuations and is considered to be riskier than G500.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USDV.L	G500.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	3.04%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	7.32%	9.37%	-2.05%
Volatility (1Y) Calculated over the trailing 1-year period	9.52%	12.11%	-2.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.80%	16.00%	-3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.14%	15.87%	-0.73%

USDV.L vs. G500.L - Expense Ratio Comparison

USDV.L has a 0.35% expense ratio, which is higher than G500.L's 0.05% expense ratio.

Dividends

USDV.L vs. G500.L - Dividend Comparison

USDV.L's dividend yield for the trailing twelve months is around 2.01%, while G500.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
G500.L Invesco S&P 500 UCITS ETF GBP Hedged (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%
USDV.L SPDR S&P US Dividend Aristocrats UCITS ETF Dis	2.01%	2.20%	1.99%	2.28%	2.11%	2.13%	2.57%	2.07%	2.19%	1.85%	1.65%	2.00%

Frequently Asked Questions

Can I hold both USDV.L and G500.L in my portfolio?

USDV.L and G500.L have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USDV.L or G500.L?

On fees, G500.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USDV.L or G500.L?

G500.L is cheaper with a 0.05% expense ratio, compared with 0.35% for USDV.L.

What is the main difference between USDV.L and G500.L?

USDV.L is categorized as Large Cap Blend Equities, while G500.L is US Equities. USDV.L tracks S&P High Yield Dividend Aristocrats Index, while G500.L tracks S&P 500 GBP Daily Hedged Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.35% for USDV.L and 0.05% for G500.L.