USVL.L vs. R1VL.L
USVL.L (State Street SPDR MSCI USA Value UCITS ETF USD (Acc)) and R1VL.L (iShares Russell 1000 Value UCITS ETF USD (Acc)) are both Large Cap Value Equities funds - USVL.L tracks the MSCI USA Value Exposure Select Index while R1VL.L tracks the Russell 1000 Value UCITS 30/18 Capped Net Tax 15% Index. Both are passively managed. Over the past 3 years, USVL.L returned 22.22%/yr vs 17.50%/yr for R1VL.L. Their correlation of 0.87 suggests significant overlap in exposure. USVL.L charges 0.20%/yr vs 0.18%/yr for R1VL.L.
Performance
USVL.L vs. R1VL.L - Performance Comparison
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Returns By Period
In the year-to-date period, USVL.L achieves a 24.47% return, which is significantly higher than R1VL.L's 18.22% return.
USVL.L
- 1D
- 0.16%
- 1M
- -2.10%
- 6M
- 20.13%
- YTD
- 24.47%
- 1Y
- 49.93%
- 3Y*
- 22.22%
- 5Y*
- 12.22%
- 10Y*
- 12.16%
R1VL.L
- 1D
- -0.17%
- 1M
- 2.12%
- 6M
- 14.29%
- YTD
- 18.22%
- 1Y
- 29.25%
- 3Y*
- 17.50%
- 5Y*
- —
- 10Y*
- —
USVL.L vs. R1VL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
USVL.L State Street SPDR MSCI USA Value UCITS ETF USD (Acc) | 24.47% | 28.52% | 4.90% | 11.73% |
R1VL.L iShares Russell 1000 Value UCITS ETF USD (Acc) | 18.22% | 16.01% | 13.45% | 6.43% |
Correlation
The correlation between USVL.L and R1VL.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023 | 0.87 |
The correlation between USVL.L and R1VL.L has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.
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Return for Risk
USVL.L vs. R1VL.L — Risk / Return Rank
USVL.L
R1VL.L
USVL.L vs. R1VL.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 Russell 1000 Value UCITS ETF USD (Acc) (R1VL.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 | R1VL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.51 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 6.42 | 5.04 | +1.38 |
| Martin ratioReturn relative to average drawdown | 19.17 | 18.84 | +0.34 |
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Drawdowns
USVL.L vs. R1VL.L - Drawdown Comparison
The maximum USVL.L drawdown since its inception was -40.24%, which is greater than R1VL.L's maximum drawdown of -16.43%. Use the drawdown chart below to compare losses from any high point for USVL.L and R1VL.L.
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Drawdown Indicators
| USVL.L | R1VL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.24% | -16.43% | -23.81% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -5.78% | -1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -19.59% | -16.43% | -3.16% |
Max Drawdown (5Y)Largest decline over 5 years | -25.55% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.24% | — | — |
Current DrawdownCurrent decline from peak | -5.24% | -0.17% | -5.07% |
Average DrawdownAverage peak-to-trough decline | -6.34% | -2.35% | -3.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 1.55% | +1.05% |
Volatility
USVL.L vs. R1VL.L - Volatility Comparison
State Street SPDR MSCI USA Value UCITS ETF USD (Acc) (USVL.L) has a higher volatility of 3.96% compared to iShares Russell 1000 Value UCITS ETF USD (Acc) (R1VL.L) at 2.54%. This indicates that USVL.L's price experiences larger fluctuations and is considered to be riskier than R1VL.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 | R1VL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.96% | 2.54% | +1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 12.24% | 7.93% | +4.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.29% | 10.48% | +4.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.45% | 12.60% | +4.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 12.60% | +5.57% |
USVL.L vs. R1VL.L - Expense Ratio Comparison
USVL.L has a 0.20% expense ratio, which is higher than R1VL.L's 0.18% 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. R1VL.L - Dividend Comparison
Neither USVL.L nor R1VL.L has paid dividends to shareholders.
Frequently Asked Questions
USVL.L and R1VL.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, R1VL.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
R1VL.L is cheaper with a 0.18% expense ratio, compared with 0.20% for USVL.L.
USVL.L tracks MSCI USA Value Exposure Select Index, while R1VL.L tracks Russell 1000 Value UCITS 30/18 Capped Net Tax 15% Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for USVL.L and 0.18% for R1VL.L.
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