AUMF.AX vs. IOZ.AX

Last updated Jul 16, 2026

AUMF.AX (iShares Edge MSCI Australia Multifactor ETF) and IOZ.AX (Ishares Core S&P/ASX 200 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 IOZ.AX is a Australia Equities fund tracking the S&P/ASX 200 Index. Both are passively managed. Over the past 5 years, AUMF.AX returned 7.36%/yr vs 7.72%/yr for IOZ.AX. A 0.70 correlation means they provide meaningful diversification when combined. AUMF.AX charges 0.30%/yr vs 0.05%/yr for IOZ.AX.

Performance

AUMF.AX vs. IOZ.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 S&P/ASX 200 ETF (IOZ.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 -1.94% return, which is significantly lower than IOZ.AX's 3.07% return.

AUMF.AX

• 1D: 0.18%
• 1M: -1.89%
• 6M: -1.57%
• YTD: -1.94%
• 1Y: 3.42%
• 3Y*: 11.71%
• 5Y*: 7.36%
• 10Y*: —

IOZ.AX

• 1D: 0.11%
• 1M: -0.68%
• 6M: 1.81%
• YTD: 3.07%
• 1Y: 5.71%
• 3Y*: 10.31%
• 5Y*: 7.72%
• 10Y*: 8.95%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUMF.AX iShares Edge MSCI Australia Multifactor ETF	-1.94%	17.56%	14.19%	9.25%	-1.17%	10.50%	2.60%	24.02%	-4.06%	12.19%
IOZ.AX Ishares Core S&P/ASX 200 ETF	3.07%	10.22%	11.35%	12.19%	-0.91%	16.90%	1.35%	23.29%	-2.99%	11.59%

Correlation

The correlation between AUMF.AX and IOZ.AX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Oct 11, 2016	0.70

The correlation between AUMF.AX and IOZ.AX shifts across timeframes, from 0.70 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AUMF.AX vs. IOZ.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: 12
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

IOZ.AX

IOZ.AX Risk / Return Rank: 19
IOZ.AX Sharpe Ratio Rank: 19
IOZ.AX Sortino Ratio Rank: 18
IOZ.AX Omega Ratio Rank: 18
IOZ.AX Calmar Ratio Rank: 20
IOZ.AX Martin Ratio Rank: 20

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. IOZ.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 S&P/ASX 200 ETF (IOZ.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	IOZ.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.22	0.53	-0.31
Sortino ratio: Return per unit of downside risk	0.40	0.83	-0.43
Omega ratio: Gain probability vs. loss probability	1.05	1.10	-0.05
Calmar ratio: Return relative to maximum drawdown	0.28	0.75	-0.48
Martin ratio: Return relative to average drawdown	0.66	1.80	-1.15

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

The current AUMF.AX Sharpe Ratio is 0.22, which is lower than the IOZ.AX Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of AUMF.AX and IOZ.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. IOZ.AX - Drawdown Comparison

The maximum AUMF.AX drawdown since its inception was -36.93%, roughly equal to the maximum IOZ.AX drawdown of -35.75%. Use the drawdown chart below to compare losses from any high point for AUMF.AX and IOZ.AX.

Drawdown Indicators

	AUMF.AX	IOZ.AX	Difference
Max Drawdown Largest peak-to-trough decline	-36.93%	-35.75%	-1.18%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-8.45%	-2.02%
Max Drawdown (3Y) Largest decline over 3 years	-10.47%	-13.35%	+2.88%
Max Drawdown (5Y) Largest decline over 5 years	-16.05%	-14.92%	-1.13%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.75%	—
Current Drawdown Current decline from peak	-5.01%	-2.78%	-2.23%
Average Drawdown Average peak-to-trough decline	-3.86%	-4.70%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	3.61%	+0.87%

Volatility

AUMF.AX vs. IOZ.AX - Volatility Comparison

iShares Edge MSCI Australia Multifactor ETF (AUMF.AX) has a higher volatility of 2.80% compared to Ishares Core S&P/ASX 200 ETF (IOZ.AX) at 2.34%. This indicates that AUMF.AX's price experiences larger fluctuations and is considered to be riskier than IOZ.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUMF.AX	IOZ.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	2.34%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	11.21%	9.91%	+1.30%
Volatility (1Y) Calculated over the trailing 1-year period	13.35%	12.17%	+1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.08%	12.86%	+0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.11%	14.28%	-0.17%

AUMF.AX vs. IOZ.AX - Expense Ratio Comparison

AUMF.AX has a 0.30% expense ratio, which is higher than IOZ.AX's 0.05% expense ratio.

Dividends

AUMF.AX vs. IOZ.AX - Dividend Comparison

AUMF.AX's dividend yield for the trailing twelve months is around 1.44%, less than IOZ.AX's 3.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUMF.AX iShares Edge MSCI Australia Multifactor ETF	1.44%	2.80%	3.34%	4.69%	6.09%	2.52%	2.71%	4.45%	8.24%	0.00%	0.00%	0.00%
IOZ.AX Ishares Core S&P/ASX 200 ETF	3.42%	3.39%	3.47%	3.73%	6.11%	3.32%	2.40%	4.62%	4.27%	3.90%	4.89%	7.69%

Frequently Asked Questions

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

AUMF.AX and IOZ.AX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AUMF.AX or IOZ.AX?

On fees, IOZ.AX is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AUMF.AX or IOZ.AX?

IOZ.AX is cheaper with a 0.05% expense ratio, compared with 0.30% for AUMF.AX.

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

AUMF.AX is categorized as Multi-factor, while IOZ.AX is Australia Equities. AUMF.AX tracks MSCI Australia IMI Diversified Multiple-Factor (AUD) GROSS Index, while IOZ.AX tracks S&P/ASX 200 Index. Their fees differ too: 0.30% for AUMF.AX and 0.05% for IOZ.AX.