UVAL.L vs. ACWI.L

Last updated Jun 4, 2026

UVAL.L (SPDR MSCI USA Value Weighted UCITS ETF) and ACWI.L (SPDR MSCI ACWI UCITS ETF) are both exchange-traded funds - UVAL.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD, while ACWI.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, UVAL.L returned 13.99%/yr vs 13.66%/yr for ACWI.L. Their correlation of 0.85 suggests significant overlap in exposure. UVAL.L charges 0.20%/yr vs 0.40%/yr for ACWI.L.

Performance

UVAL.L vs. ACWI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI USA Value Weighted UCITS ETF (UVAL.L) and SPDR MSCI ACWI UCITS ETF (ACWI.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UVAL.L achieves a 31.16% return, which is significantly higher than ACWI.L's 11.87% return. Both investments have delivered pretty close results over the past 10 years, with UVAL.L having a 13.99% annualized return and ACWI.L not far behind at 13.66%.

UVAL.L

• 1D: -0.05%
• 1M: 18.76%
• YTD: 31.16%
• 6M: 34.50%
• 1Y: 67.14%
• 3Y*: 23.73%
• 5Y*: 13.79%
• 10Y*: 13.99%

ACWI.L

• 1D: -0.37%
• 1M: 5.83%
• YTD: 11.87%
• 6M: 12.47%
• 1Y: 30.54%
• 3Y*: 18.34%
• 5Y*: 12.53%
• 10Y*: 13.66%

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

UVAL.L vs. ACWI.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UVAL.L SPDR MSCI USA Value Weighted UCITS ETF	31.16%	19.90%	6.56%	9.53%	-4.90%	31.55%	-1.54%	22.51%	-7.42%	8.19%
ACWI.L SPDR MSCI ACWI UCITS ETF	11.87%	14.32%	19.66%	15.59%	-8.59%	20.28%	11.89%	21.92%	-4.58%	12.93%

Correlation

The correlation between UVAL.L and ACWI.L is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Feb 23, 2015	0.85

The correlation between UVAL.L and ACWI.L shifts across timeframes, from 0.69 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

UVAL.L vs. ACWI.L - Sectors Allocation Comparison

Sectors	UVAL.L	ACWI.L
Technology	41.0%	29.2%
Financial Services	11.6%	16.5%
Healthcare	9.1%	8.0%
Communication Services	9.0%	9.0%
Consumer Cyclical	8.9%	9.3%
Industrials	6.8%	10.9%
Consumer Defensive	4.3%	4.9%
Energy	3.6%	4.3%
Utilities	2.1%	2.7%
Real Estate	1.8%	1.7%
Basic Materials	1.8%	3.6%

Return for Risk

UVAL.L vs. ACWI.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UVAL.L

UVAL.L Risk / Return Rank: 97
UVAL.L Sharpe Ratio Rank: 97
UVAL.L Sortino Ratio Rank: 98
UVAL.L Omega Ratio Rank: 97
UVAL.L Calmar Ratio Rank: 97
UVAL.L Martin Ratio Rank: 97

ACWI.L

ACWI.L Risk / Return Rank: 85
ACWI.L Sharpe Ratio Rank: 86
ACWI.L Sortino Ratio Rank: 87
ACWI.L Omega Ratio Rank: 88
ACWI.L Calmar Ratio Rank: 81
ACWI.L Martin Ratio Rank: 84

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.

UVAL.L vs. ACWI.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI USA Value Weighted UCITS ETF (UVAL.L) and SPDR MSCI ACWI UCITS ETF (ACWI.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.

	UVAL.L	ACWI.L	Difference
Sharpe ratio: Return per unit of total volatility	4.96	2.92	+2.04
Sortino ratio: Return per unit of downside risk	6.76	4.02	+2.74
Omega ratio: Gain probability vs. loss probability	1.88	1.56	+0.32
Calmar ratio: Return relative to maximum drawdown	12.08	4.31	+7.77
Martin ratio: Return relative to average drawdown	42.84	17.47	+25.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UVAL.L vs. ACWI.L - Sharpe Ratio Comparison

The current UVAL.L Sharpe Ratio is 4.96, which is higher than the ACWI.L Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of UVAL.L and ACWI.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

	UVAL.L	ACWI.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.96	2.92	+2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.96	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.95	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.81	-0.07

Drawdowns

UVAL.L vs. ACWI.L - Drawdown Comparison

The maximum UVAL.L drawdown since its inception was -32.55%, which is greater than ACWI.L's maximum drawdown of -25.44%. Use the drawdown chart below to compare losses from any high point for UVAL.L and ACWI.L.

Drawdown Indicators

	UVAL.L	ACWI.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.55%	-25.44%	-7.11%
Max Drawdown (1Y) Largest decline over 1 year	-5.53%	-7.05%	+1.52%
Max Drawdown (3Y) Largest decline over 3 years	-21.03%	-18.07%	-2.96%
Max Drawdown (5Y) Largest decline over 5 years	-21.03%	-18.07%	-2.96%
Max Drawdown (10Y) Largest decline over 10 years	-32.55%	-25.44%	-7.11%
Current Drawdown Current decline from peak	-0.05%	-0.37%	+0.32%
Average Drawdown Average peak-to-trough decline	-5.12%	-3.67%	-1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	1.74%	-0.18%

Volatility

UVAL.L vs. ACWI.L - Volatility Comparison

SPDR MSCI USA Value Weighted UCITS ETF (UVAL.L) has a higher volatility of 5.62% compared to SPDR MSCI ACWI UCITS ETF (ACWI.L) at 2.89%. This indicates that UVAL.L's price experiences larger fluctuations and is considered to be riskier than ACWI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UVAL.L	ACWI.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.62%	2.89%	+2.73%
Volatility (6M) Calculated over the trailing 6-month period	9.96%	7.76%	+2.20%
Volatility (1Y) Calculated over the trailing 1-year period	13.53%	10.45%	+3.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.49%	13.05%	+2.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.34%	14.39%	+2.95%

UVAL.L vs. ACWI.L - Expense Ratio Comparison

UVAL.L has a 0.20% expense ratio, which is lower than ACWI.L's 0.40% expense ratio.

Dividends

UVAL.L vs. ACWI.L - Dividend Comparison

Neither UVAL.L nor ACWI.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UVAL.L and ACWI.L in my portfolio?

UVAL.L and ACWI.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UVAL.L or ACWI.L?

On fees, UVAL.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, UVAL.L or ACWI.L?

UVAL.L is cheaper with a 0.20% expense ratio, compared with 0.40% for ACWI.L.

What is the main difference between UVAL.L and ACWI.L?

UVAL.L is categorized as Large Cap Value Equities, while ACWI.L is Global Equities. UVAL.L tracks Russell 1000 Value TR USD, while ACWI.L tracks MSCI ACWI NR USD. Their fees differ too: 0.20% for UVAL.L and 0.40% for ACWI.L.