USVL.L vs. ACWD.L
USVL.L (State Street SPDR MSCI USA Value UCITS ETF USD Acc) and ACWD.L (SPDR MSCI All Country World UCITS ETF) are both Global Equities funds from State Street - USVL.L tracks the State Street SPDR MSCI USA Value UCITS ETF USD Acc while ACWD.L tracks the MSCI ACWI Index. Both are passively managed. Over the past 10 years, USVL.L returned 12.08%/yr vs 12.42%/yr for ACWD.L. Their correlation of 0.81 suggests significant overlap in exposure. USVL.L charges 0.20%/yr vs 0.12%/yr for ACWD.L.
Performance
USVL.L vs. ACWD.L - Performance Comparison
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Returns By Period
In the year-to-date period, USVL.L achieves a 23.80% return, which is significantly higher than ACWD.L's 11.10% return. Both investments have delivered pretty close results over the past 10 years, with USVL.L having a 12.08% annualized return and ACWD.L not far ahead at 12.42%.
USVL.L
- 1D
- -0.23%
- 1M
- -3.95%
- 6M
- 20.72%
- YTD
- 23.80%
- 1Y
- 48.22%
- 3Y*
- 22.39%
- 5Y*
- 12.09%
- 10Y*
- 12.08%
ACWD.L
- 1D
- 0.07%
- 1M
- -0.64%
- 6M
- 9.52%
- YTD
- 11.10%
- 1Y
- 23.82%
- 3Y*
- 19.08%
- 5Y*
- 11.05%
- 10Y*
- 12.42%
USVL.L vs. ACWD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USVL.L State Street SPDR MSCI USA Value UCITS ETF USD Acc | 23.80% | 28.52% | 4.90% | 15.93% | -15.04% | 29.87% | 1.93% | 26.43% | -10.49% | 16.19% |
ACWD.L SPDR MSCI All Country World UCITS ETF | 11.10% | 22.83% | 17.76% | 22.27% | -18.37% | 18.77% | 15.91% | 25.80% | -9.85% | 24.09% |
Correlation
The correlation between USVL.L and ACWD.L is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015 | 0.81 |
The correlation between USVL.L and ACWD.L has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.
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Return for Risk
USVL.L vs. ACWD.L — Risk / Return Rank
USVL.L
ACWD.L
USVL.L vs. ACWD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI USA Value UCITS ETF USD Acc (USVL.L) and SPDR MSCI All Country World UCITS ETF (ACWD.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.
| USVL.L | ACWD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.34 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 6.46 | 2.72 | +3.75 |
| Martin ratioReturn relative to average drawdown | 19.45 | 10.81 | +8.63 |
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Drawdowns
USVL.L vs. ACWD.L - Drawdown Comparison
The maximum USVL.L drawdown since its inception was -40.24%, which is greater than ACWD.L's maximum drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for USVL.L and ACWD.L.
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Drawdown Indicators
| USVL.L | ACWD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.24% | -33.64% | -6.60% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -8.73% | +0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -19.59% | -16.51% | -3.08% |
Max Drawdown (5Y)Largest decline over 5 years | -25.55% | -26.18% | +0.63% |
Max Drawdown (10Y)Largest decline over 10 years | -40.24% | -33.64% | -6.60% |
Current DrawdownCurrent decline from peak | -5.75% | -1.08% | -4.67% |
Average DrawdownAverage peak-to-trough decline | -6.34% | -4.86% | -1.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 2.20% | +0.38% |
Volatility
USVL.L vs. ACWD.L - Volatility Comparison
State Street SPDR MSCI USA Value UCITS ETF USD Acc (USVL.L) has a higher volatility of 4.22% compared to SPDR MSCI All Country World UCITS ETF (ACWD.L) at 3.28%. This indicates that USVL.L's price experiences larger fluctuations and is considered to be riskier than ACWD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USVL.L | ACWD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 3.28% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 12.26% | 10.70% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.37% | 13.03% | +2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.46% | 15.66% | +1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 15.73% | +2.44% |
USVL.L vs. ACWD.L - Expense Ratio Comparison
USVL.L has a 0.20% expense ratio, which is higher than ACWD.L's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
USVL.L vs. ACWD.L - Dividend Comparison
Neither USVL.L nor ACWD.L has paid dividends to shareholders.
Frequently Asked Questions
USVL.L and ACWD.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ACWD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ACWD.L is cheaper with a 0.12% expense ratio, compared with 0.20% for USVL.L.
USVL.L tracks State Street SPDR MSCI USA Value UCITS ETF USD Acc, while ACWD.L tracks MSCI ACWI Index. Their fees differ too: 0.20% for USVL.L and 0.12% for ACWD.L.
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