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USSC.L vs. SPX5.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USSC.L vs. SPX5.L

Last updated Jun 4, 2026

USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) and SPX5.L (SPDR S&P 500 UCITS ETF) are both exchange-traded funds - USSC.L is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index, while SPX5.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, USSC.L returned 12.01%/yr vs 15.42%/yr for SPX5.L. A 0.70 correlation means they provide meaningful diversification when combined. USSC.L charges 0.30%/yr vs 0.09%/yr for SPX5.L.

Performance

USSC.L vs. SPX5.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) and SPDR S&P 500 UCITS ETF (SPX5.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

USSC.L is traded in USD, while SPX5.L is traded in GBP. To make them comparable, the SPX5.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, USSC.L achieves a 12.93% return, which is significantly higher than SPX5.L's 10.22% return. Over the past 10 years, USSC.L has underperformed SPX5.L with an annualized return of 12.01%, while SPX5.L has yielded a comparatively higher 15.42% annualized return.

USSC.L

1D
-0.49%
1M
0.86%
YTD
12.93%
6M
13.58%
1Y
35.93%
3Y*
19.32%
5Y*
9.49%
10Y*
12.01%

SPX5.L

1D
-0.54%
1M
4.80%
YTD
10.22%
6M
10.95%
1Y
28.23%
3Y*
22.35%
5Y*
13.71%
10Y*
15.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USSC.L vs. SPX5.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USSC.L
SPDR MSCI USA Small Cap Value Weighted UCITS ETF		12.93%14.73%8.33%23.17%-10.14%35.22%8.76%23.19%-15.30%9.79%
SPX5.L
SPDR S&P 500 UCITS ETF		10.22%17.59%25.34%26.07%-18.73%29.78%17.00%31.82%-5.70%22.25%

Correlation

The correlation between USSC.L and SPX5.L is 0.60, 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

0.60

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

0.61

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

0.70

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

0.69

Correlation (All Time)
Calculated using the full available price history since Feb 23, 2015

0.70

The correlation between USSC.L and SPX5.L has been stable across timeframes, ranging from 0.60 to 0.70 - a consistent structural relationship.

USSC.L vs. SPX5.L - Sectors Allocation Comparison

Sectors
USSC.L
SPX5.L

Financial Services

19.8%
11.8%

Industrials

14.7%
8.3%

Consumer Cyclical

14.0%
10.1%

Energy

11.2%
3.5%

Technology

9.4%
35.6%

Healthcare

7.5%
8.5%

Real Estate

6.2%
1.9%

Basic Materials

6.1%
1.8%

Consumer Defensive

6.0%
4.9%

Communication Services

2.7%
11.2%

Utilities

2.5%
2.3%

Financial Services

USSC.L
19.8%
SPX5.L
11.8%

Industrials

USSC.L
14.7%
SPX5.L
8.3%

Consumer Cyclical

USSC.L
14.0%
SPX5.L
10.1%

Energy

USSC.L
11.2%
SPX5.L
3.5%

Technology

USSC.L
9.4%
SPX5.L
35.6%

Healthcare

USSC.L
7.5%
SPX5.L
8.5%

Real Estate

USSC.L
6.2%
SPX5.L
1.9%

Basic Materials

USSC.L
6.1%
SPX5.L
1.8%

Consumer Defensive

USSC.L
6.0%
SPX5.L
4.9%

Communication Services

USSC.L
2.7%
SPX5.L
11.2%

Utilities

USSC.L
2.5%
SPX5.L
2.3%

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SPDR MSCI USA Small Cap Value Weighted UCITS ETF

SPDR S&P 500 UCITS ETF

Often compared with USSC.L:
USSC.L vs. R2SC.LUSSC.L vs. SPYUSSC.L vs. SLYVUSSC.L vs. IEUSUSSC.L vs. VBRUSSC.L vs. IMID.LUSSC.L vs. MOGB.L
Often compared with SPX5.L:
SPX5.L vs. SPYSPX5.L vs. SPXP.LSPX5.L vs. VUSA.DESPX5.L vs. VUSA.LSPX5.L vs. VOOSPX5.L vs. IUSA.LSPX5.L vs. EQQQ.L

Return for Risk

USSC.L vs. SPX5.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USSC.L
USSC.L Risk / Return Rank: 7171
Overall Rank
USSC.L Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
USSC.L Sortino Ratio Rank: 7171
Sortino Ratio Rank
USSC.L Omega Ratio Rank: 6262
Omega Ratio Rank
USSC.L Calmar Ratio Rank: 8282
Calmar Ratio Rank
USSC.L Martin Ratio Rank: 7474
Martin Ratio Rank
SPX5.L
SPX5.L Risk / Return Rank: 8181
Overall Rank
SPX5.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
SPX5.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
SPX5.L Omega Ratio Rank: 8484
Omega Ratio Rank
SPX5.L Calmar Ratio Rank: 7979
Calmar Ratio Rank
SPX5.L Martin Ratio Rank: 7777
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.

USSC.L vs. SPX5.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) and SPDR S&P 500 UCITS ETF (SPX5.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.

USSC.LSPX5.LDifference
Sharpe ratioReturn per unit of total volatility
2.24
2.54

-0.30

Sortino ratioReturn per unit of downside risk
3.28
3.65

-0.38

Omega ratioGain probability vs. loss probability

1.38

1.45

-0.07

Calmar ratioReturn relative to maximum drawdown

4.40

3.25

+1.15

Martin ratioReturn relative to average drawdown

14.10

14.01

+0.09

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

USSC.L vs. SPX5.L - Sharpe Ratio Comparison

The current USSC.L Sharpe Ratio is 2.24, which is comparable to the SPX5.L Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of USSC.L and SPX5.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

USSC.LSPX5.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.24

2.54

-0.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.44

0.88

-0.44

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

0.96

-0.43

Sharpe Ratio (All Time)

Calculated using the full available price history

0.45

0.94

-0.48

Drawdowns

USSC.L vs. SPX5.L - Drawdown Comparison

The maximum USSC.L drawdown since its inception was -48.99%, which is greater than SPX5.L's maximum drawdown of -33.47%. Use the drawdown chart below to compare losses from any high point for USSC.L and SPX5.L.

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Drawdown Indicators

USSC.LSPX5.LDifference

Max Drawdown

Largest peak-to-trough decline

-48.99%

-33.47%

-15.52%

Max Drawdown (1Y)

Largest decline over 1 year

-8.12%

-8.64%

+0.52%

Max Drawdown (3Y)

Largest decline over 3 years

-27.47%

-18.43%

-9.04%

Max Drawdown (5Y)

Largest decline over 5 years

-27.47%

-25.18%

-2.29%

Max Drawdown (10Y)

Largest decline over 10 years

-48.99%

-33.47%

-15.52%

Current Drawdown

Current decline from peak

-0.49%

-0.54%

+0.05%

Average Drawdown

Average peak-to-trough decline

-7.70%

-3.72%

-3.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.54%

2.01%

+0.53%

Volatility

USSC.L vs. SPX5.L - Volatility Comparison

SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) has a higher volatility of 4.04% compared to SPDR S&P 500 UCITS ETF (SPX5.L) at 2.47%. This indicates that USSC.L's price experiences larger fluctuations and is considered to be riskier than SPX5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USSC.LSPX5.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.04%

2.47%

+1.57%

Volatility (6M)

Calculated over the trailing 6-month period

10.08%

7.93%

+2.15%

Volatility (1Y)

Calculated over the trailing 1-year period

16.01%

11.10%

+4.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.62%

15.55%

+6.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.82%

16.06%

+6.76%

USSC.L vs. SPX5.L - Expense Ratio Comparison

USSC.L has a 0.30% expense ratio, which is higher than SPX5.L's 0.09% expense ratio.

Dividends

USSC.L vs. SPX5.L - Dividend Comparison

USSC.L has not paid dividends to shareholders, while SPX5.L's dividend yield for the trailing twelve months is around 0.89%.

PositionTTM20252024202320222021202020192018201720162015
SPX5.L
SPDR S&P 500 UCITS ETF		0.89%0.98%1.04%1.21%1.39%0.98%1.40%1.76%1.71%2.36%1.49%1.68%
USSC.L
SPDR MSCI USA Small Cap Value Weighted 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

USSC.L and SPX5.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPX5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPX5.L is cheaper with a 0.09% expense ratio, compared with 0.30% for USSC.L.

USSC.L is categorized as Small Cap Value Equities, while SPX5.L is S&P 500. USSC.L tracks MSCI USA Small Cap Value Weighted Index, while SPX5.L tracks S&P 500 Index. Their fees differ too: 0.30% for USSC.L and 0.09% for SPX5.L.

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