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UVAL.L vs. PQVG.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

UVAL.L vs. PQVG.L

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR MSCI USA Value Weighted UCITS ETF (UVAL.L) and Invesco S&P 500 QVM UCITS ETF (PQVG.L).

UVAL.L and PQVG.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UVAL.L is a passively managed fund by State Street that tracks the performance of the Russell 1000 Value TR USD. It was launched on Feb 18, 2015. PQVG.L is a passively managed fund by Invesco that tracks the performance of the S&P 500 Quality, Value, and Momentum Multi-Factor Index (Net Total Return). It was launched on May 18, 2017. Both UVAL.L and PQVG.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

UVAL.L vs. PQVG.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 Invesco S&P 500 QVM UCITS ETF (PQVG.L). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023202220212020201920182017
UVAL.L
SPDR MSCI USA Value Weighted UCITS ETF		1.52%19.90%6.56%9.53%-4.90%31.55%-1.54%22.51%-7.42%9.99%
PQVG.L
Invesco S&P 500 QVM UCITS ETF		4.63%5.84%32.29%0.98%12.54%27.78%4.44%21.16%-1.98%14.30%
Different Trading Currencies

UVAL.L is traded in GBP, while PQVG.L is traded in GBp. To make them comparable, the PQVG.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 1.52% return, which is significantly lower than PQVG.L's 4.63% return.

UVAL.L

1D
-0.32%
1M
-4.65%
YTD
1.52%
6M
12.03%
1Y
25.34%
3Y*
12.52%
5Y*
8.75%
10Y*
11.09%

PQVG.L

1D
0.07%
1M
-2.75%
YTD
4.63%
6M
5.12%
1Y
13.21%
3Y*
15.83%
5Y*
14.92%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR MSCI USA Value Weighted UCITS ETF

Invesco S&P 500 QVM UCITS ETF

Often compared with UVAL.L:
UVAL.L vs. IUVD.LUVAL.L vs. IUSVUVAL.L vs. USLV.LUVAL.L vs. IUVL.LUVAL.L vs. UC07.LUVAL.L vs. ACWD.LUVAL.L vs. UC96.L
Often compared with PQVG.L:
PQVG.L vs. IQSA.LPQVG.L vs. SPPY.DEPQVG.L vs. SPMOPQVG.L vs. TSGB.LPQVG.L vs. CSPX.LPQVG.L vs. DYNFPQVG.L vs. SPXP.L

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

UVAL.L has a 0.20% expense ratio, which is lower than PQVG.L's 0.35% expense ratio.

PQVG.L
Invesco S&P 500 QVM UCITS ETF
UVAL.L
SPDR MSCI USA Value Weighted UCITS ETF

Return for Risk

UVAL.L vs. PQVG.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: 7878
Overall Rank
UVAL.L Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
UVAL.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
UVAL.L Omega Ratio Rank: 7777
Omega Ratio Rank
UVAL.L Calmar Ratio Rank: 7777
Calmar Ratio Rank
UVAL.L Martin Ratio Rank: 7676
Martin Ratio Rank
PQVG.L
PQVG.L Risk / Return Rank: 5151
Overall Rank
PQVG.L Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
PQVG.L Sortino Ratio Rank: 5252
Sortino Ratio Rank
PQVG.L Omega Ratio Rank: 5050
Omega Ratio Rank
PQVG.L Calmar Ratio Rank: 4848
Calmar Ratio Rank
PQVG.L Martin Ratio Rank: 5555
Martin Ratio Rank
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. PQVG.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 Invesco S&P 500 QVM UCITS ETF (PQVG.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.LPQVG.LDifference

Sharpe ratio

Return per unit of total volatility

1.56

0.93

+0.64

Sortino ratio

Return per unit of downside risk

2.09

1.36

+0.73

Omega ratio

Gain probability vs. loss probability

1.30

1.18

+0.11

Calmar ratio

Return relative to maximum drawdown

2.09

1.19

+0.91

Martin ratio

Return relative to average drawdown

8.28

5.23

+3.05

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. PQVG.L - Sharpe Ratio Comparison

The current UVAL.L Sharpe Ratio is 1.56, which is higher than the PQVG.L Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of UVAL.L and PQVG.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

UVAL.LPQVG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.56

0.93

+0.64

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.57

1.00

-0.43

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

0.82

-0.22

Correlation

The correlation between UVAL.L and PQVG.L is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

UVAL.L vs. PQVG.L - Dividend Comparison

UVAL.L has not paid dividends to shareholders, while PQVG.L's dividend yield for the trailing twelve months is around 0.86%.

TTM202520242023202220212020201920182017
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%0.00%
PQVG.L
Invesco S&P 500 QVM UCITS ETF		0.86%0.82%0.82%1.61%1.77%0.87%1.59%1.41%1.30%0.72%

Drawdowns

UVAL.L vs. PQVG.L - Drawdown Comparison

The maximum UVAL.L drawdown since its inception was -32.55%, which is greater than PQVG.L's maximum drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for UVAL.L and PQVG.L.

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Drawdown Indicators

UVAL.LPQVG.LDifference

Max Drawdown

Largest peak-to-trough decline

-32.55%

-25.88%

-6.67%

Max Drawdown (1Y)

Largest decline over 1 year

-11.74%

-10.27%

-1.47%

Max Drawdown (5Y)

Largest decline over 5 years

-21.03%

-17.44%

-3.59%

Max Drawdown (10Y)

Largest decline over 10 years

-32.55%

—

—

Current Drawdown

Current decline from peak

-5.53%

-3.43%

-2.10%

Average Drawdown

Average peak-to-trough decline

-5.18%

-4.24%

-0.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.97%

2.33%

+0.64%

Volatility

UVAL.L vs. PQVG.L - Volatility Comparison

SPDR MSCI USA Value Weighted UCITS ETF (UVAL.L) has a higher volatility of 4.29% compared to Invesco S&P 500 QVM UCITS ETF (PQVG.L) at 3.53%. This indicates that UVAL.L's price experiences larger fluctuations and is considered to be riskier than PQVG.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.LPQVG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.29%

3.53%

+0.76%

Volatility (6M)

Calculated over the trailing 6-month period

9.01%

8.06%

+0.95%

Volatility (1Y)

Calculated over the trailing 1-year period

16.13%

14.20%

+1.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.32%

14.94%

+0.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.25%

16.34%

+0.91%