# State Street SPDR MSCI USA Value UCITS ETF Accum USD (UVAL)

**Page:** https://fundology.uk/fund/uval · ISIN IE00BSPLC520

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, UVAL (State Street SPDR MSCI USA Value UCITS ETF Accum USD, ISIN IE00BSPLC520) closed at £75.19 on the London Stock Exchange. Its ongoing charge is 0.20% a year (about £20 on £10,000). Over the five years to 13/11/2026 its total return was +79.6%, or +40.2% after UK CPIH inflation.

## Summary

State Street SPDR MSCI USA Value UCITS ETF Accum USD is an exchange-traded fund (ETF) from SPDR, launched in 2015. It tracks the MSCI USA Value Exposure Select Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.2% a year — about £20 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Latest close: **£75.19** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | UVAL |
| ISIN | IE00BSPLC520 |
| Also listed as | USVL (London Stock Exchange, US dollars), ZPRU (Xetra, euros) |
| Category | US shares |
| Type | ETF |
| Provider | SPDR |
| Tracks | MSCI USA Value Exposure Select Index |
| Income | Accumulating |
| Ongoing charge | 0.20% a year (£20 per £10,000) |
| Fund size | £252m |
| Launched | 2015 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 18/02/2015 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +34.53% | +29.76% | income reinvested |
| 3 years | +82.47% | +64.85% | income reinvested |
| 5 years | +79.63% | +40.21% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of State Street SPDR MSCI USA Value UCITS ETF Accum USD in pounds (price, with income reinvested in the fund): 2022 −4.9%, 2023 +9.5%, 2024 +8.0%, 2025 +18.3%; 2026 to 13/11/2026 +30.8%. Returns of State Street SPDR MSCI USA Value UCITS ETF Accum USD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +40.4%; to 30/09/2025: +13.4%; to 30/09/2024: +13.9%; to 30/09/2023: +1.3%; to 30/09/2022: +4.0%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -4.9% | -12.9% | Price |
| 2023 | +9.5% | +5.2% | Price |
| 2024 | +8.0% | +4.3% | Price |
| 2025 | +18.3% | +14.2% | Price |
| 2026 to 13/11/2026 | +30.8% | +26.7% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 13.50% | -4.44% |
| 3 years | 14.20% | -18.73% |
| 5 years | 14.90% | -18.73% |

## Largest fall

Volatility of State Street SPDR MSCI USA Value UCITS ETF Accum USD in pounds, annualised from weekly returns to 13/11/2026: 13.5% over 1 year, 14.2% over 3 years, 14.9% over 5 years. Largest fall in the price of State Street SPDR MSCI USA Value UCITS ETF Accum USD since November 2021, in pounds: −18.7% from 22/11/2024 to 11/04/2025. The lowest 12-month return of State Street SPDR MSCI USA Value UCITS ETF Accum USD in pounds (price, with income reinvested in the fund) since January 2021 was −12.1% (12 months to 11/04/2025); the highest was +65.1% (12 months to 29/05/2026). On 13/11/2026 the price of State Street SPDR MSCI USA Value UCITS ETF Accum USD was 1.5% below its highest weekly close since November 2021 (25/09/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of State Street SPDR MSCI USA Value UCITS ETF Accum USD 0.20% a year. Compared on 14/11/2026, 85 of the 254 other US share funds charge more, 44 the same and 125 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.20%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 05/11/2026, UVAL holds 120 positions, according to its published holdings. The largest is Micron Technology at 4.48% of the fund; the ten largest make up 33.6%.

### Top holdings

Largest positions (as of 05/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Micron Technology | [MU](https://fundology.uk/stock/MU) | 4.48% |
| 2 | General Motors | [GM](https://fundology.uk/stock/GM) | 4.36% |
| 3 | Cisco Systems | [CSCO](https://fundology.uk/stock/CSCO) | 3.96% |
| 4 | Qualcomm | [QCOM](https://fundology.uk/stock/QCOM) | 3.82% |
| 5 | Accenture · Class A | [ACN](https://fundology.uk/stock/ACN) | 3.75% |
| 6 | Hewlett Packard Enterprise | [HPE](https://fundology.uk/stock/HPE) | 3.12% |
| 7 | Verizon Communications | [VZ](https://fundology.uk/stock/VZ) | 2.94% |
| 8 | Adobe | [ADBE](https://fundology.uk/stock/ADBE) | 2.50% |
| 9 | Merck | [MRK](https://fundology.uk/stock/MRK) | 2.38% |
| 10 | AT&T | [T](https://fundology.uk/stock/T) | 2.30% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By sector

Added up from the fund’s published holdings, as of 05/11/2026.

| Sector | Weight |
|---|---|
| Information Technology | 35.6% |
| Financials | 12.0% |
| Communication Services | 10.2% |
| Consumer Discretionary | 10.1% |
| Health Care | 9.4% |
| Industrials | 9.3% |
| Consumer Staples | 4.7% |
| Energy | 3.3% |
| Other sectors | 5.3% |

All 120 holdings: https://fundology.uk/fund/uval/holdings

## Questions people ask

**What is the ongoing charge of UVAL?**

The ongoing charge of UVAL is 0.20% a year — about £20 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of State Street SPDR MSCI USA Value UCITS ETF Accum USD 0.20% a year. Compared on 14/11/2026, 85 of the 254 other US share funds charge more, 44 the same and 125 less (share classes counted once).

**What does UVAL track?**

UVAL tracks the MSCI USA Value Exposure Select Index.

**Is UVAL accumulating or distributing?**

UVAL is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of UVAL?**

The ISIN of UVAL is IE00BSPLC520. An ISIN identifies one exact share class of a fund; UVAL is its ticker on the London Stock Exchange. The same share class is also listed as USVL (London Stock Exchange, US dollars) and ZPRU (Xetra, euros).

**What does UVAL hold?**

As of 05/11/2026, UVAL holds 120 positions, according to its published holdings. The largest is Micron Technology at 4.48% of the fund; the ten largest make up 33.6%. Its ten largest holdings are Micron Technology (4.48%), General Motors (4.36%), Cisco Systems (3.96%), Qualcomm (3.82%), Accenture · Class A (3.75%), Hewlett Packard Enterprise (3.12%), Verizon Communications (2.94%), Adobe (2.50%), Merck (2.38%) and AT&T (2.30%).

**What were UVAL’s returns in each of the last five years?**

Calendar-year returns of UVAL in pounds (price, with income reinvested in the fund): 2022 −4.9%, 2023 +9.5%, 2024 +8.0%, 2025 +18.3%; 2026 to 13/11/2026 +30.8%. Past performance is not a guide to future returns.

**How has UVAL done after inflation?**

Over the five years to 13/11/2026 UVAL’s total return was +79.6%, or +40.2% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at State Street Global Advisors](https://www.ssga.com/uk/en_gb/intermediary/etfs/state-street-spdr-msci-usa-value-ucits-etf-zpru-gy)
- [Key investor information document (KIID)](https://www.ssga.com/library-content/kiids?isin=IE00BSPLC520&documentType=kiid&country=uk&language=en_gb&ticker=zpru-gy)
- [Factsheet](https://www.ssga.com/library-content/products/factsheets/etfs/emea/factsheet-emea-en_gb-zpru-gy.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.