USSC.L vs. XNAS.L

Last updated Jun 9, 2026

USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) and XNAS.L (Xtrackers NASDAQ 100 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 XNAS.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, USSC.L returned 9.15%/yr vs 25.23%/yr for XNAS.L. A 0.52 correlation means they provide meaningful diversification when combined. USSC.L charges 0.30%/yr vs 0.20%/yr for XNAS.L.

Performance

USSC.L vs. XNAS.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 Xtrackers NASDAQ 100 UCITS ETF (XNAS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USSC.L achieves a 13.11% return, which is significantly lower than XNAS.L's 16.34% return.

USSC.L

• 1D: 0.14%
• 1M: 0.83%
• YTD: 13.11%
• 6M: 13.79%
• 1Y: 34.93%
• 3Y*: 18.16%
• 5Y*: 9.15%
• 10Y*: 11.89%

XNAS.L

• 1D: -0.36%
• 1M: 1.62%
• YTD: 16.34%
• 6M: 15.52%
• 1Y: 36.22%
• 3Y*: 27.22%
• 5Y*: 25.23%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF	13.11%	14.72%	8.33%	23.18%	-10.14%	23.51%
XNAS.L Xtrackers NASDAQ 100 UCITS ETF	16.34%	19.82%	26.59%	88.40%	-25.44%	-8.88%

Correlation

The correlation between USSC.L and XNAS.L is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021	0.52

The correlation between USSC.L and XNAS.L has been stable across timeframes, ranging from 0.50 to 0.54 - a consistent structural relationship.

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

Sectors	USSC.L	XNAS.L
Financial Services	19.8%	0.2%
Industrials	14.7%	3.1%
Consumer Cyclical	14.0%	12.2%
Energy	11.2%	0.6%
Technology	9.4%	53.7%
Healthcare	7.5%	4.2%
Real Estate	6.2%	0.1%
Basic Materials	6.1%	1.1%
Consumer Defensive	6.0%	7.7%
Communication Services	2.7%	15.8%
Utilities	2.5%	1.4%

Return for Risk

USSC.L vs. XNAS.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: 77
USSC.L Sharpe Ratio Rank: 75
USSC.L Sortino Ratio Rank: 80
USSC.L Omega Ratio Rank: 69
USSC.L Calmar Ratio Rank: 85
USSC.L Martin Ratio Rank: 78

XNAS.L

XNAS.L Risk / Return Rank: 74
XNAS.L Sharpe Ratio Rank: 78
XNAS.L Sortino Ratio Rank: 78
XNAS.L Omega Ratio Rank: 74
XNAS.L Calmar Ratio Rank: 72
XNAS.L Martin Ratio Rank: 70

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. XNAS.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 Xtrackers NASDAQ 100 UCITS ETF (XNAS.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.L	XNAS.L	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.26	-0.08
Sortino ratio: Return per unit of downside risk	3.19	3.13	+0.06
Omega ratio: Gain probability vs. loss probability	1.37	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	4.28	3.30	+0.98
Martin ratio: Return relative to average drawdown	13.71	11.81	+1.90
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. XNAS.L - Sharpe Ratio Comparison

The current USSC.L Sharpe Ratio is 2.18, which is comparable to the XNAS.L Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of USSC.L and XNAS.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.

Sharpe Ratios by Period

	USSC.L	XNAS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	2.26	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	1.11	-0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.65	-0.20

Drawdowns

USSC.L vs. XNAS.L - Drawdown Comparison

The maximum USSC.L drawdown since its inception was -48.99%, which is greater than XNAS.L's maximum drawdown of -34.26%. Use the drawdown chart below to compare losses from any high point for USSC.L and XNAS.L.

Drawdown Indicators

	USSC.L	XNAS.L	Difference
Max Drawdown Largest peak-to-trough decline	-48.99%	-34.26%	-14.73%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-10.91%	+2.79%
Max Drawdown (3Y) Largest decline over 3 years	-27.47%	-22.92%	-4.55%
Max Drawdown (5Y) Largest decline over 5 years	-27.47%	-27.52%	+0.05%
Max Drawdown (10Y) Largest decline over 10 years	-48.99%	—	—
Current Drawdown Current decline from peak	-0.56%	-3.52%	+2.96%
Average Drawdown Average peak-to-trough decline	-7.68%	-10.37%	+2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	3.06%	-0.52%

Volatility

USSC.L vs. XNAS.L - Volatility Comparison

The current volatility for SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) is 3.91%, while Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) has a volatility of 5.49%. This indicates that USSC.L experiences smaller price fluctuations and is considered to be less risky than XNAS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USSC.L	XNAS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.91%	5.49%	-1.58%
Volatility (6M) Calculated over the trailing 6-month period	10.07%	12.01%	-1.94%
Volatility (1Y) Calculated over the trailing 1-year period	15.98%	16.02%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.61%	22.70%	-1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.79%	25.23%	-2.44%

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

USSC.L has a 0.30% expense ratio, which is higher than XNAS.L's 0.20% expense ratio.

Dividends

USSC.L vs. XNAS.L - Dividend Comparison

Neither USSC.L nor XNAS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

USSC.L and XNAS.L have a correlation of 0.50, 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 XNAS.L?

On fees, XNAS.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

XNAS.L is cheaper with a 0.20% expense ratio, compared with 0.30% for USSC.L.

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

USSC.L is categorized as Small Cap Value Equities, while XNAS.L is Nasdaq-100. USSC.L tracks MSCI USA Small Cap Value Weighted Index, while XNAS.L tracks NASDAQ-100 Index. They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.30% for USSC.L and 0.20% for XNAS.L.