UVAL.L vs. FRXD.L
UVAL.L (SPDR MSCI USA Value Weighted UCITS ETF) and FRXD.L (Franklin European Quality Dividend UCITS ETF EUR (Dist)) are both exchange-traded funds - UVAL.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD, while FRXD.L is a Europe Equities fund tracking the LibertyQ European Dividend Index-NR. Both are passively managed. Over the past 5 years, UVAL.L returned 12.68%/yr vs 12.17%/yr for FRXD.L. At a 0.48 correlation, their price movements are largely independent. UVAL.L charges 0.20%/yr vs 0.25%/yr for FRXD.L.
Performance
UVAL.L vs. FRXD.L - Performance Comparison
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Different Trading Currencies
UVAL.L is traded in GBP, while FRXD.L is traded in EUR. To make them comparable, the FRXD.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, UVAL.L achieves a 23.98% return, which is significantly higher than FRXD.L's 9.10% return.
UVAL.L
- 1D
- 0.17%
- 1M
- -3.14%
- 6M
- 18.49%
- YTD
- 23.98%
- 1Y
- 50.83%
- 3Y*
- 21.32%
- 5Y*
- 12.68%
- 10Y*
- 11.97%
FRXD.L
- 1D
- 0.26%
- 1M
- -2.33%
- 6M
- 8.79%
- YTD
- 9.10%
- 1Y
- 17.36%
- 3Y*
- 19.51%
- 5Y*
- 12.17%
- 10Y*
- —
UVAL.L vs. FRXD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UVAL.L SPDR MSCI USA Value Weighted UCITS ETF | 23.98% | 19.90% | 6.56% | 9.53% | -4.90% | 31.55% | -1.54% | 22.51% | -6.54% | 7.26% |
FRXD.L Franklin European Quality Dividend UCITS ETF EUR (Dist) | 9.10% | 30.65% | 7.63% | 8.12% | 5.16% | 10.32% | 1.12% | 17.41% | -8.42% | -3.16% |
Correlation
The correlation between UVAL.L and FRXD.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2017 | 0.48 |
Over the past year, the correlation between UVAL.L and FRXD.L has dropped to 0.20 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.
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Return for Risk
UVAL.L vs. FRXD.L — Risk / Return Rank
UVAL.L
FRXD.L
UVAL.L vs. FRXD.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 Franklin European Quality Dividend UCITS ETF EUR (Dist) (FRXD.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.
| UVAL.L | FRXD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.34 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 8.50 | 4.81 | +3.68 |
| Martin ratioReturn relative to average drawdown | 25.05 | 10.94 | +14.10 |
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Drawdowns
UVAL.L vs. FRXD.L - Drawdown Comparison
The maximum UVAL.L drawdown since its inception was -43.04%, which is greater than FRXD.L's maximum drawdown of -29.39%. Use the drawdown chart below to compare losses from any high point for UVAL.L and FRXD.L.
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Drawdown Indicators
| UVAL.L | FRXD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.04% | -29.39% | -13.65% |
Max Drawdown (1Y)Largest decline over 1 year | -5.95% | -3.59% | -2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -21.03% | -8.29% | -12.74% |
Max Drawdown (5Y)Largest decline over 5 years | -21.03% | -12.18% | -8.85% |
Max Drawdown (10Y)Largest decline over 10 years | -33.84% | — | — |
Current DrawdownCurrent decline from peak | -5.53% | -3.29% | -2.24% |
Average DrawdownAverage peak-to-trough decline | -12.99% | -3.52% | -9.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 1.58% | +0.44% |
Volatility
UVAL.L vs. FRXD.L - Volatility Comparison
SPDR MSCI USA Value Weighted UCITS ETF (UVAL.L) has a higher volatility of 4.13% compared to Franklin European Quality Dividend UCITS ETF EUR (Dist) (FRXD.L) at 2.72%. This indicates that UVAL.L's price experiences larger fluctuations and is considered to be riskier than FRXD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UVAL.L | FRXD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.13% | 2.72% | +1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 10.96% | 7.09% | +3.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.02% | 8.92% | +5.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.67% | 11.34% | +9.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.39% | 13.38% | +9.01% |
UVAL.L vs. FRXD.L - Expense Ratio Comparison
UVAL.L has a 0.20% expense ratio, which is lower than FRXD.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
UVAL.L vs. FRXD.L - Dividend Comparison
UVAL.L has not paid dividends to shareholders, while FRXD.L's dividend yield for the trailing twelve months is around 3.95%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FRXD.L Franklin European Quality Dividend UCITS ETF EUR (Dist) | 3.95% | 4.28% | 4.30% | 5.00% | 5.20% | 4.63% | 3.53% | 4.42% | 5.53% |
UVAL.L SPDR MSCI USA Value Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UVAL.L and FRXD.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
UVAL.L is cheaper with a 0.20% expense ratio, compared with 0.25% for FRXD.L.
UVAL.L is categorized as Large Cap Value Equities, while FRXD.L is Europe Equities. UVAL.L tracks Russell 1000 Value TR USD, while FRXD.L tracks LibertyQ European Dividend Index-NR. They also come from different issuers: State Street and Franklin. Their fees differ too: 0.20% for UVAL.L and 0.25% for FRXD.L.
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