USVL.L vs. IWVG.L
USVL.L (State Street SPDR MSCI USA Value UCITS ETF USD Acc) and IWVG.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)) are both Global Equities funds - USVL.L tracks the State Street SPDR MSCI USA Value UCITS ETF USD Acc while IWVG.L tracks the MSCI ACWI Value NR USD. Both are passively managed. Over the past 5 years, USVL.L returned 12.09%/yr vs 16.55%/yr for IWVG.L. Their correlation of 0.80 suggests significant overlap in exposure. USVL.L charges 0.20%/yr vs 0.30%/yr for IWVG.L.
Performance
USVL.L vs. IWVG.L - Performance Comparison
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Different Trading Currencies
USVL.L is traded in USD, while IWVG.L is traded in GBP. To make them comparable, the IWVG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, USVL.L achieves a 23.80% return, which is significantly lower than IWVG.L's 29.21% return.
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%
IWVG.L
- 1D
- -1.38%
- 1M
- -4.12%
- 6M
- 25.30%
- YTD
- 29.21%
- 1Y
- 56.72%
- 3Y*
- 26.65%
- 5Y*
- 16.55%
- 10Y*
- —
USVL.L vs. IWVG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -10.10% |
IWVG.L iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) | 29.21% | 41.17% | 4.80% | 19.04% | -9.76% | 20.14% | -4.01% | 19.28% | -16.25% |
Correlation
The correlation between USVL.L and IWVG.L is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2018 | 0.80 |
The correlation between USVL.L and IWVG.L has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.
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Return for Risk
USVL.L vs. IWVG.L — Risk / Return Rank
USVL.L
IWVG.L
USVL.L vs. IWVG.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 iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.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 | IWVG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.60 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 6.46 | 6.55 | -0.08 |
| Martin ratioReturn relative to average drawdown | 19.45 | 23.13 | -3.68 |
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Drawdowns
USVL.L vs. IWVG.L - Drawdown Comparison
The maximum USVL.L drawdown since its inception was -40.24%, which is greater than IWVG.L's maximum drawdown of -35.79%. Use the drawdown chart below to compare losses from any high point for USVL.L and IWVG.L.
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Drawdown Indicators
| USVL.L | IWVG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.24% | -35.79% | -4.45% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -8.62% | +0.88% |
Max Drawdown (3Y)Largest decline over 3 years | -19.59% | -14.64% | -4.95% |
Max Drawdown (5Y)Largest decline over 5 years | -25.55% | -26.94% | +1.39% |
Max Drawdown (10Y)Largest decline over 10 years | -40.24% | — | — |
Current DrawdownCurrent decline from peak | -5.75% | -4.24% | -1.51% |
Average DrawdownAverage peak-to-trough decline | -6.34% | -6.64% | +0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 2.45% | +0.13% |
Volatility
USVL.L vs. IWVG.L - Volatility Comparison
The current volatility for State Street SPDR MSCI USA Value UCITS ETF USD Acc (USVL.L) is 4.22%, while iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L) has a volatility of 6.03%. This indicates that USVL.L experiences smaller price fluctuations and is considered to be less risky than IWVG.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 | IWVG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 6.03% | -1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 12.26% | 13.95% | -1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.37% | 16.24% | -0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.46% | 15.95% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 17.66% | +0.51% |
USVL.L vs. IWVG.L - Expense Ratio Comparison
USVL.L has a 0.20% expense ratio, which is lower than IWVG.L's 0.30% expense ratio.
Dividends
USVL.L vs. IWVG.L - Dividend Comparison
USVL.L has not paid dividends to shareholders, while IWVG.L's dividend yield for the trailing twelve months is around 1.93%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IWVG.L iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) | 1.93% | 2.48% | 3.12% | 3.22% | 3.11% | 2.61% | 2.37% | 2.90% | 2.48% |
USVL.L State Street SPDR MSCI USA Value UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USVL.L and IWVG.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USVL.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USVL.L is cheaper with a 0.20% expense ratio, compared with 0.30% for IWVG.L.
USVL.L tracks State Street SPDR MSCI USA Value UCITS ETF USD Acc, while IWVG.L tracks MSCI ACWI Value NR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for USVL.L and 0.30% for IWVG.L.
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