XLV vs. MVUS.L

Last updated Jun 9, 2026

XLV (State Street Health Care Select Sector SPDR ETF) and MVUS.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) are both exchange-traded funds - XLV is a Health & Biotech Equities fund tracking the Health Care Select Sector Index, while MVUS.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, XLV returned 9.65%/yr vs 10.45%/yr for MVUS.L. At a 0.46 correlation, their price movements are largely independent. XLV charges 0.08%/yr vs 0.20%/yr for MVUS.L.

Performance

XLV vs. MVUS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Health Care Select Sector SPDR ETF (XLV) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XLV is traded in USD, while MVUS.L is traded in GBp. To make them comparable, the MVUS.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XLV achieves a -0.98% return, which is significantly lower than MVUS.L's 3.12% return. Over the past 10 years, XLV has underperformed MVUS.L with an annualized return of 9.65%, while MVUS.L has yielded a comparatively higher 10.45% annualized return.

XLV

• 1D: -0.24%
• 1M: 6.38%
• YTD: -0.98%
• 6M: 1.65%
• 1Y: 15.62%
• 3Y*: 7.16%
• 5Y*: 6.05%
• 10Y*: 9.65%

MVUS.L

• 1D: -0.39%
• 1M: 2.24%
• YTD: 3.12%
• 6M: 4.80%
• 1Y: 10.22%
• 3Y*: 13.40%
• 5Y*: 8.71%
• 10Y*: 10.45%

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

XLV vs. MVUS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLV State Street Health Care Select Sector SPDR ETF	-0.98%	14.50%	2.47%	2.07%	-2.08%	26.04%	13.30%	20.45%	6.28%	21.77%
MVUS.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)	3.12%	11.72%	18.70%	9.31%	-11.01%	25.45%	7.05%	31.95%	-6.00%	16.33%

Correlation

The correlation between XLV and MVUS.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 3, 2012	0.46

The correlation between XLV and MVUS.L shifts across timeframes, from 0.32 (1 year) to 0.47 (10 years), reflecting how their relationship changes across market environments.

XLV vs. MVUS.L - Sectors Allocation Comparison

Sectors	XLV	MVUS.L
Healthcare	100.0%	13.3%
Basic Materials	-	2.3%
Communication Services	-	6.5%
Consumer Cyclical	-	6.9%
Consumer Defensive	-	10.4%
Energy	-	5.2%
Financial Services	-	17.8%
Industrials	-	5.7%
Real Estate	-	0.2%
Technology	-	29.0%
Utilities	-	2.9%

Return for Risk

XLV vs. MVUS.L — Risk / Return Rank

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

XLV

XLV Risk / Return Rank: 32
XLV Sharpe Ratio Rank: 32
XLV Sortino Ratio Rank: 34
XLV Omega Ratio Rank: 31
XLV Calmar Ratio Rank: 33
XLV Martin Ratio Rank: 28

MVUS.L

MVUS.L Risk / Return Rank: 46
MVUS.L Sharpe Ratio Rank: 47
MVUS.L Sortino Ratio Rank: 46
MVUS.L Omega Ratio Rank: 45
MVUS.L Calmar Ratio Rank: 48
MVUS.L Martin Ratio Rank: 46

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.

XLV vs. MVUS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Health Care Select Sector SPDR ETF (XLV) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.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.

	XLV	MVUS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.05	1.24	-0.19
Sortino ratio: Return per unit of downside risk	1.68	1.82	-0.14
Omega ratio: Gain probability vs. loss probability	1.19	1.21	-0.02
Calmar ratio: Return relative to maximum drawdown	1.50	1.55	-0.06
Martin ratio: Return relative to average drawdown	3.60	6.27	-2.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLV vs. MVUS.L - Sharpe Ratio Comparison

The current XLV Sharpe Ratio is 1.05, which is comparable to the MVUS.L Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of XLV and MVUS.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

	XLV	MVUS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	1.24	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.46	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.61	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.42	+0.04

Drawdowns

XLV vs. MVUS.L - Drawdown Comparison

The maximum XLV drawdown since its inception was -39.17%, roughly equal to the maximum MVUS.L drawdown of -38.28%. Use the drawdown chart below to compare losses from any high point for XLV and MVUS.L.

Drawdown Indicators

	XLV	MVUS.L	Difference
Max Drawdown Largest peak-to-trough decline	-39.17%	-38.28%	-0.89%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-6.55%	-3.92%
Max Drawdown (3Y) Largest decline over 3 years	-17.11%	-19.31%	+2.20%
Max Drawdown (5Y) Largest decline over 5 years	-17.11%	-19.44%	+2.33%
Max Drawdown (10Y) Largest decline over 10 years	-28.40%	-33.05%	+4.65%
Current Drawdown Current decline from peak	-4.32%	-1.04%	-3.28%
Average Drawdown Average peak-to-trough decline	-7.12%	-7.33%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.35%	1.63%	+2.72%

Volatility

XLV vs. MVUS.L - Volatility Comparison

State Street Health Care Select Sector SPDR ETF (XLV) has a higher volatility of 5.02% compared to iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L) at 1.81%. This indicates that XLV's price experiences larger fluctuations and is considered to be riskier than MVUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLV	MVUS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	1.81%	+3.21%
Volatility (6M) Calculated over the trailing 6-month period	10.66%	5.85%	+4.81%
Volatility (1Y) Calculated over the trailing 1-year period	14.99%	8.26%	+6.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.76%	18.88%	-4.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.58%	17.08%	-0.50%

XLV vs. MVUS.L - Expense Ratio Comparison

XLV has a 0.08% expense ratio, which is lower than MVUS.L's 0.20% 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

XLV vs. MVUS.L - Dividend Comparison

XLV's dividend yield for the trailing twelve months is around 1.64%, while MVUS.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MVUS.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLV State Street Health Care Select Sector SPDR ETF	1.64%	1.60%	1.67%	1.59%	1.47%	1.33%	1.49%	2.17%	1.57%	1.47%	1.60%	1.43%

Frequently Asked Questions

Can I hold both XLV and MVUS.L in my portfolio?

XLV and MVUS.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLV or MVUS.L?

On fees, XLV is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLV or MVUS.L?

XLV is cheaper with a 0.08% expense ratio, compared with 0.20% for MVUS.L.

What is the main difference between XLV and MVUS.L?

XLV is categorized as Health & Biotech Equities, while MVUS.L is S&P 500. XLV tracks Health Care Select Sector Index, while MVUS.L tracks S&P 500 Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLV and 0.20% for MVUS.L.