AUMF.AX vs. IHWL.AX

Last updated Jul 18, 2026

AUMF.AX (iShares Edge MSCI Australia Multifactor ETF) and IHWL.AX (iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF) are both exchange-traded funds - AUMF.AX is a Multi-factor fund tracking the MSCI Australia IMI Diversified Multiple-Factor (AUD) GROSS Index, while IHWL.AX is a Global Equities fund tracking the iShares Core MSCI World ex Australia ESG (AUD Hedged) Index. Both are passively managed. Over the past 5 years, AUMF.AX returned 7.15%/yr vs 11.11%/yr for IHWL.AX. At a 0.49 correlation, their price movements are largely independent.

Performance

AUMF.AX vs. IHWL.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in iShares Edge MSCI Australia Multifactor ETF (AUMF.AX) and iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF (IHWL.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUMF.AX achieves a -2.86% return, which is significantly lower than IHWL.AX's 8.01% return.

AUMF.AX

• 1D: -0.94%
• 1M: -3.30%
• 6M: -2.93%
• YTD: -2.86%
• 1Y: 2.04%
• 3Y*: 11.55%
• 5Y*: 7.15%
• 10Y*: —

IHWL.AX

• 1D: -1.30%
• 1M: -0.53%
• 6M: 6.33%
• YTD: 8.01%
• 1Y: 20.04%
• 3Y*: 17.75%
• 5Y*: 11.11%
• 10Y*: 12.38%

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

AUMF.AX vs. IHWL.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUMF.AX iShares Edge MSCI Australia Multifactor ETF	-2.86%	17.56%	14.19%	9.25%	-1.17%	10.50%	2.60%	24.02%	-4.06%	12.19%
IHWL.AX iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF	8.01%	17.85%	20.95%	26.93%	-21.57%	31.44%	7.65%	24.82%	-8.18%	19.90%

Correlation

The correlation between AUMF.AX and IHWL.AX is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Oct 11, 2016	0.49

The correlation between AUMF.AX and IHWL.AX shifts across timeframes, from 0.49 (all time) to 0.60 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AUMF.AX vs. IHWL.AX — Risk / Return Rank

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

AUMF.AX

AUMF.AX Risk / Return Rank: 13
AUMF.AX Sharpe Ratio Rank: 13
AUMF.AX Sortino Ratio Rank: 12
AUMF.AX Omega Ratio Rank: 12
AUMF.AX Calmar Ratio Rank: 13
AUMF.AX Martin Ratio Rank: 13

IHWL.AX

IHWL.AX Risk / Return Rank: 55
IHWL.AX Sharpe Ratio Rank: 54
IHWL.AX Sortino Ratio Rank: 53
IHWL.AX Omega Ratio Rank: 56
IHWL.AX Calmar Ratio Rank: 49
IHWL.AX Martin Ratio Rank: 61

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.

AUMF.AX vs. IHWL.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Australia Multifactor ETF (AUMF.AX) and iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF (IHWL.AX). 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.

	AUMF.AX	IHWL.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.15	1.38	-1.23
Sortino ratio: Return per unit of downside risk	0.30	1.98	-1.67
Omega ratio: Gain probability vs. loss probability	1.04	1.26	-0.22
Calmar ratio: Return relative to maximum drawdown	0.19	1.89	-1.70
Martin ratio: Return relative to average drawdown	0.45	7.98	-7.53

AUMF.AX vs. IHWL.AX - Sharpe Ratio Comparison

The current AUMF.AX Sharpe Ratio is 0.15, which is lower than the IHWL.AX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of AUMF.AX and IHWL.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AUMF.AX vs. IHWL.AX - Drawdown Comparison

The maximum AUMF.AX drawdown since its inception was -36.93%, smaller than the maximum IHWL.AX drawdown of -39.03%. Use the drawdown chart below to compare losses from any high point for AUMF.AX and IHWL.AX.

Drawdown Indicators

	AUMF.AX	IHWL.AX	Difference
Max Drawdown Largest peak-to-trough decline	-36.93%	-39.03%	+2.10%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-10.16%	-0.31%
Max Drawdown (3Y) Largest decline over 3 years	-10.47%	-19.96%	+9.49%
Max Drawdown (5Y) Largest decline over 5 years	-16.05%	-27.41%	+11.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.03%	—
Current Drawdown Current decline from peak	-5.90%	-1.30%	-4.60%
Average Drawdown Average peak-to-trough decline	-3.86%	-5.15%	+1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.49%	2.44%	+2.05%

Volatility

AUMF.AX vs. IHWL.AX - Volatility Comparison

iShares Edge MSCI Australia Multifactor ETF (AUMF.AX) and iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF (IHWL.AX) have volatilities of 2.86% and 2.78%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUMF.AX	IHWL.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.86%	2.78%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	11.24%	11.53%	-0.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.37%	13.91%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.08%	17.51%	-4.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.11%	17.30%	-3.19%

Dividends

AUMF.AX vs. IHWL.AX - Dividend Comparison

AUMF.AX's dividend yield for the trailing twelve months is around 1.46%, less than IHWL.AX's 5.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUMF.AX iShares Edge MSCI Australia Multifactor ETF	1.46%	2.80%	3.34%	4.69%	6.09%	2.52%	2.71%	4.45%	8.24%	0.00%
IHWL.AX iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF	5.28%	0.98%	1.11%	3.06%	0.77%	11.16%	0.00%	0.00%	2.35%	1.07%

Frequently Asked Questions

Can I hold both AUMF.AX and IHWL.AX in my portfolio?

AUMF.AX and IHWL.AX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between AUMF.AX and IHWL.AX?

AUMF.AX is categorized as Multi-factor, while IHWL.AX is Global Equities. AUMF.AX tracks MSCI Australia IMI Diversified Multiple-Factor (AUD) GROSS Index, while IHWL.AX tracks iShares Core MSCI World ex Australia ESG (AUD Hedged) Index.