VALW.L vs. SBUY.L

Last updated Jun 3, 2026

VALW.L (SPDR MSCI World Value UCITS ETF) and SBUY.L (Invesco Global Buyback Achievers UCITS ETF) are both Global Equities funds - VALW.L tracks the MSCI ACWI Value NR USD while SBUY.L tracks the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, VALW.L returned 14.58%/yr vs 10.87%/yr for SBUY.L. Their correlation of 0.84 suggests significant overlap in exposure. VALW.L charges 0.25%/yr vs 0.39%/yr for SBUY.L.

Performance

VALW.L vs. SBUY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI World Value UCITS ETF (VALW.L) and Invesco Global Buyback Achievers UCITS ETF (SBUY.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VALW.L is traded in GBP, while SBUY.L is traded in GBp. To make them comparable, the SBUY.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VALW.L achieves a 19.31% return, which is significantly higher than SBUY.L's 5.80% return.

VALW.L

• 1D: 1.06%
• 1M: 10.28%
• YTD: 19.31%
• 6M: 21.41%
• 1Y: 47.31%
• 3Y*: 21.18%
• 5Y*: 14.58%
• 10Y*: —

SBUY.L

• 1D: 0.73%
• 1M: 1.08%
• YTD: 5.80%
• 6M: 7.48%
• 1Y: 25.87%
• 3Y*: 18.51%
• 5Y*: 10.87%
• 10Y*: 13.13%

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

VALW.L vs. SBUY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VALW.L SPDR MSCI World Value UCITS ETF	19.31%	27.01%	5.92%	16.43%	0.09%	20.68%	-18.17%
SBUY.L Invesco Global Buyback Achievers UCITS ETF	5.80%	21.60%	14.64%	9.46%	-0.90%	21.36%	12.80%

Correlation

The correlation between VALW.L and SBUY.L is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Sep 3, 2020	0.84

The correlation between VALW.L and SBUY.L has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.

VALW.L vs. SBUY.L - Sectors Allocation Comparison

Sectors	VALW.L	SBUY.L
Technology	29.7%	7.6%
Financial Services	15.4%	32.9%
Industrials	12.4%	11.0%
Healthcare	9.4%	5.5%
Consumer Cyclical	8.3%	15.8%
Communication Services	8.1%	4.1%
Consumer Defensive	4.9%	1.9%
Energy	4.1%	17.1%
Basic Materials	3.2%	1.4%
Utilities	2.7%	2.2%
Real Estate	1.8%	0.5%

Return for Risk

VALW.L vs. SBUY.L — Risk / Return Rank

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

VALW.L

VALW.L Risk / Return Rank: 94
VALW.L Sharpe Ratio Rank: 95
VALW.L Sortino Ratio Rank: 95
VALW.L Omega Ratio Rank: 95
VALW.L Calmar Ratio Rank: 93
VALW.L Martin Ratio Rank: 93

SBUY.L

SBUY.L Risk / Return Rank: 81
SBUY.L Sharpe Ratio Rank: 79
SBUY.L Sortino Ratio Rank: 79
SBUY.L Omega Ratio Rank: 77
SBUY.L Calmar Ratio Rank: 87
SBUY.L Martin Ratio Rank: 81

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.

VALW.L vs. SBUY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Value UCITS ETF (VALW.L) and Invesco Global Buyback Achievers UCITS ETF (SBUY.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.

	VALW.L	SBUY.L	Difference
Sharpe ratio Return per unit of total volatility	3.95	2.62	+1.33
Sortino ratio Return per unit of downside risk	5.39	3.61	+1.79
Omega ratio Gain probability vs. loss probability	1.74	1.47	+0.28
Calmar ratio Return relative to maximum drawdown	6.59	5.10	+1.49
Martin ratio Return relative to average drawdown	24.68	16.42	+8.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VALW.L vs. SBUY.L - Sharpe Ratio Comparison

The current VALW.L Sharpe Ratio is 3.95, which is higher than the SBUY.L Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of VALW.L and SBUY.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

	VALW.L	SBUY.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.95	2.62	+1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.15	0.79	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.84	-0.17

Drawdowns

VALW.L vs. SBUY.L - Drawdown Comparison

The maximum VALW.L drawdown since its inception was -28.59%, smaller than the maximum SBUY.L drawdown of -30.91%. Use the drawdown chart below to compare losses from any high point for VALW.L and SBUY.L.

Drawdown Indicators

	VALW.L	SBUY.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.59%	-30.91%	+2.32%
Max Drawdown (1Y) Largest decline over 1 year	-7.04%	-4.79%	-2.25%
Max Drawdown (3Y) Largest decline over 3 years	-14.24%	-17.76%	+3.52%
Max Drawdown (5Y) Largest decline over 5 years	-14.24%	-17.76%	+3.52%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.91%	—
Current Drawdown Current decline from peak	0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	-4.55%	-3.99%	-0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	1.49%	+0.39%

Volatility

VALW.L vs. SBUY.L - Volatility Comparison

SPDR MSCI World Value UCITS ETF (VALW.L) has a higher volatility of 4.18% compared to Invesco Global Buyback Achievers UCITS ETF (SBUY.L) at 2.13%. This indicates that VALW.L's price experiences larger fluctuations and is considered to be riskier than SBUY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VALW.L	SBUY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	2.13%	+2.05%
Volatility (6M) Calculated over the trailing 6-month period	9.58%	7.00%	+2.58%
Volatility (1Y) Calculated over the trailing 1-year period	11.93%	9.84%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.65%	13.73%	-1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	15.52%	+1.16%

VALW.L vs. SBUY.L - Expense Ratio Comparison

VALW.L has a 0.25% expense ratio, which is lower than SBUY.L's 0.39% expense ratio.

Dividends

VALW.L vs. SBUY.L - Dividend Comparison

VALW.L has not paid dividends to shareholders, while SBUY.L's dividend yield for the trailing twelve months is around 1.70%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SBUY.L Invesco Global Buyback Achievers UCITS ETF	1.70%	1.86%	1.80%	1.73%	1.91%	1.20%	1.62%	1.90%	1.31%	1.22%	1.60%	1.27%
VALW.L SPDR MSCI World Value UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VALW.L and SBUY.L in my portfolio?

VALW.L and SBUY.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VALW.L or SBUY.L?

On fees, VALW.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VALW.L or SBUY.L?

VALW.L is cheaper with a 0.25% expense ratio, compared with 0.39% for SBUY.L.

What is the main difference between VALW.L and SBUY.L?

VALW.L tracks MSCI ACWI Value NR USD, while SBUY.L tracks MSCI ACWI NR USD. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.25% for VALW.L and 0.39% for SBUY.L.