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USLV.L vs. USDV.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USLV.L vs. USDV.L

Last updated Jun 5, 2026

USLV.L (SPDR S&P 500 Low Volatility UCITS ETF) and USDV.L (SPDR S&P US Dividend Aristocrats UCITS ETF Dis) are both exchange-traded funds - USLV.L is a S&P 500 fund tracking the S&P 500 Low Volatility Index, while USDV.L is a Large Cap Blend Equities fund tracking the S&P High Yield Dividend Aristocrats Index. Both are passively managed. Over the past 10 years, USLV.L returned 8.39%/yr vs 9.84%/yr for USDV.L. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.

Performance

USLV.L vs. USDV.L - Performance Comparison

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

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Returns By Period

In the year-to-date period, USLV.L achieves a 1.11% return, which is significantly lower than USDV.L's 7.22% return. Over the past 10 years, USLV.L has underperformed USDV.L with an annualized return of 8.39%, while USDV.L has yielded a comparatively higher 9.84% annualized return.

USLV.L

1D
-0.07%
1M
-0.68%
YTD
1.11%
6M
0.78%
1Y
2.08%
3Y*
4.40%
5Y*
6.11%
10Y*
8.39%

USDV.L

1D
0.13%
1M
1.22%
YTD
7.22%
6M
6.65%
1Y
14.81%
3Y*
6.93%
5Y*
6.79%
10Y*
9.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
USLV.L
SPDR S&P 500 Low Volatility UCITS ETF		1.11%-2.67%15.49%-6.05%6.92%26.04%-5.76%22.99%4.45%6.15%
USDV.L
SPDR S&P US Dividend Aristocrats UCITS ETF Dis		7.22%1.15%9.34%-3.52%11.58%26.74%-2.72%19.69%1.49%6.73%

Correlation

The correlation between USLV.L and USDV.L is 0.83, 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

0.83

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

0.84

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

0.83

Correlation (10Y)
Calculated over the trailing 10-year period

0.83

Correlation (All Time)
Calculated using the full available price history since Oct 11, 2012

0.83

The correlation between USLV.L and USDV.L has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

USLV.L vs. USDV.L - Sectors Allocation Comparison

Sectors
USLV.L
USDV.L

Utilities

26.8%
14.8%

Financial Services

16.6%
11.5%

Real Estate

14.8%
4.6%

Consumer Defensive

10.8%
17.0%

Industrials

10.2%
17.5%

Healthcare

6.8%
6.2%

Consumer Cyclical

5.7%
5.2%

Technology

4.6%
8.9%

Basic Materials

2.0%
6.4%

Energy

0.9%
4.5%

Communication Services

0.9%
3.5%

Utilities

USLV.L
26.8%
USDV.L
14.8%

Financial Services

USLV.L
16.6%
USDV.L
11.5%

Real Estate

USLV.L
14.8%
USDV.L
4.6%

Consumer Defensive

USLV.L
10.8%
USDV.L
17.0%

Industrials

USLV.L
10.2%
USDV.L
17.5%

Healthcare

USLV.L
6.8%
USDV.L
6.2%

Consumer Cyclical

USLV.L
5.7%
USDV.L
5.2%

Technology

USLV.L
4.6%
USDV.L
8.9%

Basic Materials

USLV.L
2.0%
USDV.L
6.4%

Energy

USLV.L
0.9%
USDV.L
4.5%

Communication Services

USLV.L
0.9%
USDV.L
3.5%

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SPDR S&P 500 Low Volatility UCITS ETF

SPDR S&P US Dividend Aristocrats UCITS ETF Dis

Often compared with USLV.L:
USLV.L vs. BRK-BUSLV.L vs. SCHDUSLV.L vs. SPYUSLV.L vs. VOOUSLV.L vs. IUIT.LUSLV.L vs. ^SP500TRUSLV.L vs. SCHX
Often compared with USDV.L:
USDV.L vs. SCHDUSDV.L vs. UDVD.LUSDV.L vs. SPYUSDV.L vs. VOOUSDV.L vs. XUHY.LUSDV.L vs. QDIVUSDV.L vs. VUAA.L

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USLV.L
USLV.L Risk / Return Rank: 1111
Overall Rank
USLV.L Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
USLV.L Sortino Ratio Rank: 1010
Sortino Ratio Rank
USLV.L Omega Ratio Rank: 1010
Omega Ratio Rank
USLV.L Calmar Ratio Rank: 1111
Calmar Ratio Rank
USLV.L Martin Ratio Rank: 1111
Martin Ratio Rank
USDV.L
USDV.L Risk / Return Rank: 4141
Overall Rank
USDV.L Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
USDV.L Sortino Ratio Rank: 4343
Sortino Ratio Rank
USDV.L Omega Ratio Rank: 3939
Omega Ratio Rank
USDV.L Calmar Ratio Rank: 4343
Calmar Ratio Rank
USDV.L Martin Ratio Rank: 3535
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.

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

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 Low Volatility UCITS ETF (USLV.L) and SPDR S&P US Dividend Aristocrats UCITS ETF Dis (USDV.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.

USLV.LUSDV.LDifference
Sharpe ratioReturn per unit of total volatility
0.12
1.44

-1.32

Sortino ratioReturn per unit of downside risk
0.25
2.15

-1.90

Omega ratioGain probability vs. loss probability

1.03

1.25

-0.22

Calmar ratioReturn relative to maximum drawdown

0.16

2.12

-1.96

Martin ratioReturn relative to average drawdown

0.40

5.42

-5.01

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

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

The current USLV.L Sharpe Ratio is 0.12, which is lower than the USDV.L Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of USLV.L and USDV.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

USLV.LUSDV.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.12

1.44

-1.32

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

0.53

-0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.60

0.64

-0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.78

0.84

-0.06

Drawdowns

USLV.L vs. USDV.L - Drawdown Comparison

The maximum USLV.L drawdown since its inception was -27.37%, roughly equal to the maximum USDV.L drawdown of -27.80%. Use the drawdown chart below to compare losses from any high point for USLV.L and USDV.L.

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Drawdown Indicators

USLV.LUSDV.LDifference

Max Drawdown

Largest peak-to-trough decline

-27.37%

-27.80%

+0.43%

Max Drawdown (1Y)

Largest decline over 1 year

-7.96%

-6.60%

-1.36%

Max Drawdown (3Y)

Largest decline over 3 years

-10.71%

-16.30%

+5.59%

Max Drawdown (5Y)

Largest decline over 5 years

-14.56%

-16.30%

+1.74%

Max Drawdown (10Y)

Largest decline over 10 years

-27.37%

-27.80%

+0.43%

Current Drawdown

Current decline from peak

-7.23%

-3.68%

-3.55%

Average Drawdown

Average peak-to-trough decline

-5.16%

-4.14%

-1.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

2.58%

+0.55%

Volatility

USLV.L vs. USDV.L - Volatility Comparison

SPDR S&P 500 Low Volatility UCITS ETF (USLV.L) has a higher volatility of 3.76% compared to SPDR S&P US Dividend Aristocrats UCITS ETF Dis (USDV.L) at 2.53%. This indicates that USLV.L's price experiences larger fluctuations and is considered to be riskier than USDV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USLV.LUSDV.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.76%

2.53%

+1.23%

Volatility (6M)

Calculated over the trailing 6-month period

8.01%

7.19%

+0.82%

Volatility (1Y)

Calculated over the trailing 1-year period

10.34%

9.69%

+0.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.11%

12.78%

-0.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.00%

15.33%

-1.33%

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

Both USLV.L and USDV.L have an expense ratio of 0.35%.

Dividends

USLV.L vs. USDV.L - Dividend Comparison

USLV.L has not paid dividends to shareholders, while USDV.L's dividend yield for the trailing twelve months is around 2.04%.

PositionTTM20252024202320222021202020192018201720162015
USDV.L
SPDR S&P US Dividend Aristocrats UCITS ETF Dis		2.04%2.20%1.99%2.29%2.11%2.12%2.57%2.65%2.19%3.07%1.65%2.00%
USLV.L
SPDR S&P 500 Low Volatility UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

USLV.L and USDV.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

USLV.L and USDV.L have the same expense ratio: 0.35% per year.

USLV.L is categorized as S&P 500, while USDV.L is Large Cap Blend Equities. USLV.L tracks S&P 500 Low Volatility Index, while USDV.L tracks S&P High Yield Dividend Aristocrats Index.

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