USSC.L vs. UKDV.L

Last updated Jun 26, 2026

USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) and UKDV.L (SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist)) are both exchange-traded funds - USSC.L is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index, while UKDV.L is a Europe Equities fund tracking the FTSE AllSh TR GBP. Both are passively managed. Over the past 10 years, USSC.L returned 13.12%/yr vs 5.55%/yr for UKDV.L. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.

Performance

USSC.L vs. UKDV.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 UK Dividend Aristocrats UCITS ETF (Dist) (UKDV.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

USSC.L is traded in USD, while UKDV.L is traded in GBP. To make them comparable, the UKDV.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 17.26% return, which is significantly higher than UKDV.L's 6.41% return. Over the past 10 years, USSC.L has outperformed UKDV.L with an annualized return of 13.12%, while UKDV.L has yielded a comparatively lower 5.55% annualized return.

USSC.L

• 1D: 0.56%
• 1M: 4.15%
• YTD: 17.26%
• 6M: 16.64%
• 1Y: 37.89%
• 3Y*: 20.19%
• 5Y*: 10.36%
• 10Y*: 13.12%

UKDV.L

• 1D: 0.36%
• 1M: 0.60%
• YTD: 6.41%
• 6M: 6.13%
• 1Y: 12.87%
• 3Y*: 15.82%
• 5Y*: 6.12%
• 10Y*: 5.55%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF	17.26%	14.72%	8.33%	23.18%	-10.14%	35.22%	8.76%	23.17%	-15.30%	9.80%
UKDV.L SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist)	6.41%	25.71%	8.51%	11.33%	-17.92%	13.10%	-14.72%	37.48%	-20.18%	13.58%

Correlation

The correlation between USSC.L and UKDV.L is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.56
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015	0.58

The correlation between USSC.L and UKDV.L has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.

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

Sectors	USSC.L	UKDV.L
Financial Services	19.8%	23.8%
Industrials	14.7%	23.7%
Consumer Cyclical	14.0%	6.8%
Energy	11.2%	-
Technology	9.4%	1.2%
Healthcare	7.5%	8.2%
Real Estate	6.2%	13.6%
Basic Materials	6.1%	3.9%
Consumer Defensive	6.0%	10.9%
Communication Services	2.7%	3.0%
Utilities	2.5%	4.9%

Return for Risk

USSC.L vs. UKDV.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: 85
USSC.L Sharpe Ratio Rank: 85
USSC.L Sortino Ratio Rank: 88
USSC.L Omega Ratio Rank: 80
USSC.L Calmar Ratio Rank: 89
USSC.L Martin Ratio Rank: 84

UKDV.L

UKDV.L Risk / Return Rank: 37
UKDV.L Sharpe Ratio Rank: 37
UKDV.L Sortino Ratio Rank: 37
UKDV.L Omega Ratio Rank: 36
UKDV.L Calmar Ratio Rank: 35
UKDV.L Martin Ratio Rank: 38

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. UKDV.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 UK Dividend Aristocrats UCITS ETF (Dist) (UKDV.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.

	USSC.L	UKDV.L	Difference
Sharpe ratio: Return per unit of total volatility	2.39	0.81	+1.58
Sortino ratio: Return per unit of downside risk	3.50	1.25	+2.25
Omega ratio: Gain probability vs. loss probability	1.41	1.15	+0.26
Calmar ratio: Return relative to maximum drawdown	4.64	1.07	+3.58
Martin ratio: Return relative to average drawdown	14.96	3.58	+11.38

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

The current USSC.L Sharpe Ratio is 2.39, which is higher than the UKDV.L Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of USSC.L and UKDV.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

USSC.L vs. UKDV.L - Drawdown Comparison

The maximum USSC.L drawdown since its inception was -48.99%, roughly equal to the maximum UKDV.L drawdown of -47.83%. Use the drawdown chart below to compare losses from any high point for USSC.L and UKDV.L.

Drawdown Indicators

	USSC.L	UKDV.L	Difference
Max Drawdown Largest peak-to-trough decline	-48.99%	-47.83%	-1.16%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-12.00%	+3.88%
Max Drawdown (3Y) Largest decline over 3 years	-27.47%	-16.48%	-10.99%
Max Drawdown (5Y) Largest decline over 5 years	-27.47%	-34.27%	+6.80%
Max Drawdown (10Y) Largest decline over 10 years	-48.99%	-45.87%	-3.12%
Current Drawdown Current decline from peak	0.00%	-1.46%	+1.46%
Average Drawdown Average peak-to-trough decline	-7.65%	-13.13%	+5.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	3.58%	-1.05%

Volatility

USSC.L vs. UKDV.L - Volatility Comparison

The current volatility for SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) is 3.61%, while SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist) (UKDV.L) has a volatility of 5.51%. This indicates that USSC.L experiences smaller price fluctuations and is considered to be less risky than UKDV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USSC.L	UKDV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	5.51%	-1.90%
Volatility (6M) Calculated over the trailing 6-month period	10.25%	13.32%	-3.07%
Volatility (1Y) Calculated over the trailing 1-year period	15.81%	15.85%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.58%	18.00%	+3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.73%	19.18%	+3.55%

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

Both USSC.L and UKDV.L have an expense ratio of 0.30%.

Dividends

USSC.L vs. UKDV.L - Dividend Comparison

USSC.L has not paid dividends to shareholders, while UKDV.L's dividend yield for the trailing twelve months is around 3.37%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UKDV.L SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist)	3.37%	3.65%	3.40%	3.65%	4.54%	3.64%	3.27%	4.05%	4.67%	3.78%	4.28%	3.99%
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

Can I hold both USSC.L and UKDV.L in my portfolio?

USSC.L and UKDV.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USSC.L or UKDV.L?

Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USSC.L or UKDV.L?

USSC.L and UKDV.L have the same expense ratio: 0.30% per year.

What is the main difference between USSC.L and UKDV.L?

USSC.L is categorized as Small Cap Value Equities, while UKDV.L is Europe Equities. USSC.L tracks MSCI USA Small Cap Value Weighted Index, while UKDV.L tracks FTSE AllSh TR GBP.