USVL.L vs. USPA.L
USVL.L (State Street SPDR MSCI USA Value UCITS ETF USD (Acc)) and USPA.L (Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc)) are both exchange-traded funds - USVL.L is a Large Cap Value Equities fund tracking the MSCI USA Value Exposure Select Index, while USPA.L is a S&P 500 fund tracking the S&P 500 Net Zero 2050 Paris-Aligned ESG Index. Both are passively managed. Over the past 5 years, USVL.L returned 12.22%/yr vs 12.03%/yr for USPA.L. A 0.79 correlation means they provide meaningful diversification when combined. USVL.L charges 0.20%/yr vs 0.07%/yr for USPA.L.
Performance
USVL.L vs. USPA.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 USPA.L's 6.42% 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%
USPA.L
- 1D
- -0.92%
- 1M
- -0.37%
- 6M
- 6.70%
- YTD
- 6.42%
- 1Y
- 16.97%
- 3Y*
- 18.65%
- 5Y*
- 12.03%
- 10Y*
- —
USVL.L vs. USPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
USVL.L State Street SPDR MSCI USA Value UCITS ETF USD (Acc) | 24.47% | 28.52% | 4.90% | 15.93% | -15.04% | 29.87% | 18.83% |
USPA.L Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) | 6.42% | 15.76% | 26.74% | 30.46% | -22.10% | 32.21% | 16.58% |
Correlation
The correlation between USVL.L and USPA.L is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2020 | 0.79 |
The correlation between USVL.L and USPA.L has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.
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Return for Risk
USVL.L vs. USPA.L — Risk / Return Rank
USVL.L
USPA.L
USVL.L vs. USPA.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 Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.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 | USPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.88 | ||
| Sortino ratioReturn per unit of downside risk | +2.54 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.25 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 6.42 | 1.60 | +4.82 |
| Martin ratioReturn relative to average drawdown | 19.17 | 6.04 | +13.13 |
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Drawdowns
USVL.L vs. USPA.L - Drawdown Comparison
The maximum USVL.L drawdown since its inception was -40.24%, which is greater than USPA.L's maximum drawdown of -27.78%. Use the drawdown chart below to compare losses from any high point for USVL.L and USPA.L.
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Drawdown Indicators
| USVL.L | USPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.24% | -27.78% | -12.46% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -10.58% | +2.84% |
Max Drawdown (3Y)Largest decline over 3 years | -19.59% | -18.86% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -25.55% | -27.78% | +2.23% |
Max Drawdown (10Y)Largest decline over 10 years | -40.24% | — | — |
Current DrawdownCurrent decline from peak | -5.24% | -1.85% | -3.39% |
Average DrawdownAverage peak-to-trough decline | -6.34% | -5.97% | -0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 2.80% | -0.20% |
Volatility
USVL.L vs. USPA.L - Volatility Comparison
State Street SPDR MSCI USA Value UCITS ETF USD (Acc) (USVL.L) has a higher volatility of 3.96% compared to Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.L) at 3.49%. This indicates that USVL.L's price experiences larger fluctuations and is considered to be riskier than USPA.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 | USPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.96% | 3.49% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 12.24% | 9.90% | +2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.29% | 12.31% | +2.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.45% | 16.63% | +0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 16.48% | +1.69% |
USVL.L vs. USPA.L - Expense Ratio Comparison
USVL.L has a 0.20% expense ratio, which is higher than USPA.L's 0.07% 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. USPA.L - Dividend Comparison
Neither USVL.L nor USPA.L has paid dividends to shareholders.
Frequently Asked Questions
USVL.L and USPA.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USPA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USPA.L is cheaper with a 0.07% expense ratio, compared with 0.20% for USVL.L.
USVL.L is categorized as Large Cap Value Equities, while USPA.L is S&P 500. USVL.L tracks MSCI USA Value Exposure Select Index, while USPA.L tracks S&P 500 Net Zero 2050 Paris-Aligned ESG Index. They also come from different issuers: State Street and Franklin. Their fees differ too: 0.20% for USVL.L and 0.07% for USPA.L.
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