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FAGB.L vs. IWVG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FAGB.L vs. IWVG.L

Last updated Jul 16, 2026
Documentation

FAGB.L (Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg)) and IWVG.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)) are both Global Equities funds - FAGB.L tracks the Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg) while IWVG.L tracks the MSCI ACWI Value NR USD. Both are passively managed. Over the past 5 years, FAGB.L returned 1.50%/yr vs 16.93%/yr for IWVG.L. At a 0.43 correlation, their price movements are largely independent.

Performance

FAGB.L vs. IWVG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg) (FAGB.L) and iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, FAGB.L achieves a 1.09% return, which is significantly lower than IWVG.L's 28.47% return.

FAGB.L

1D
-0.15%
1M
-0.37%
6M
0.51%
YTD
1.09%
1Y
5.68%
3Y*
6.70%
5Y*
1.50%
10Y*
—

IWVG.L

1D
-2.49%
1M
-4.98%
6M
24.42%
YTD
28.47%
1Y
54.93%
3Y*
25.26%
5Y*
16.93%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FAGB.L vs. IWVG.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FAGB.L
Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg)		1.09%9.31%4.50%9.02%-15.12%5.18%6.43%10.50%-6.72%
IWVG.L
iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)		28.47%31.27%6.58%13.08%1.04%21.24%-6.86%14.68%-8.59%

Correlation

The correlation between FAGB.L and IWVG.L is 0.51, 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

0.51

Correlation (3Y)
Calculated over the trailing 3-year period

0.43

Correlation (5Y)
Calculated over the trailing 5-year period

0.45

Correlation (All Time)
Calculated using the full available price history since Feb 27, 2018

0.43

The correlation between FAGB.L and IWVG.L has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg)

iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)

Often compared with IWVG.L:
IWVG.L vs. IWQU.LIWVG.L vs. VTVIWVG.L vs. XDEV.LIWVG.L vs. URTHIWVG.L vs. VTIWVG.L vs. IUVD.LIWVG.L vs. VWRA.L

Return for Risk

FAGB.L vs. IWVG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FAGB.L
FAGB.L Risk / Return Rank: 3838
Overall Rank
FAGB.L Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
FAGB.L Sortino Ratio Rank: 4343
Sortino Ratio Rank
FAGB.L Omega Ratio Rank: 4242
Omega Ratio Rank
FAGB.L Calmar Ratio Rank: 2929
Calmar Ratio Rank
FAGB.L Martin Ratio Rank: 3636
Martin Ratio Rank
IWVG.L
IWVG.L Risk / Return Rank: 9696
Overall Rank
IWVG.L Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
IWVG.L Sortino Ratio Rank: 9696
Sortino Ratio Rank
IWVG.L Omega Ratio Rank: 9696
Omega Ratio Rank
IWVG.L Calmar Ratio Rank: 9797
Calmar Ratio Rank
IWVG.L Martin Ratio Rank: 9696
Martin Ratio Rank
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.

FAGB.L vs. IWVG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg) (FAGB.L) and iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.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.

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.

FAGB.LIWVG.LDifference
Sharpe ratioReturn per unit of total volatility
1.20
3.66

-2.46

Sortino ratioReturn per unit of downside risk
1.84
4.85

-3.01

Omega ratioGain probability vs. loss probability

1.23

1.67

-0.45

Calmar ratioReturn relative to maximum drawdown

1.17

7.82

-6.64

Martin ratioReturn relative to average drawdown

4.35

25.39

-21.04

FAGB.L vs. IWVG.L - Sharpe Ratio Comparison

The current FAGB.L Sharpe Ratio is 1.20, which is lower than the IWVG.L Sharpe Ratio of 3.66. The chart below compares the historical Sharpe Ratios of FAGB.L and IWVG.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.

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Drawdowns

FAGB.L vs. IWVG.L - Drawdown Comparison

The maximum FAGB.L drawdown since its inception was -30.30%, which is greater than IWVG.L's maximum drawdown of -28.07%. Use the drawdown chart below to compare losses from any high point for FAGB.L and IWVG.L.

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Drawdown Indicators

FAGB.LIWVG.LDifference

Max Drawdown

Largest peak-to-trough decline

-30.30%

-28.07%

-2.23%

Max Drawdown (1Y)

Largest decline over 1 year

-4.75%

-6.99%

+2.24%

Max Drawdown (3Y)

Largest decline over 3 years

-5.31%

-13.92%

+8.61%

Max Drawdown (5Y)

Largest decline over 5 years

-18.92%

-13.92%

-5.00%

Current Drawdown

Current decline from peak

-0.62%

-6.26%

+5.64%

Average Drawdown

Average peak-to-trough decline

-5.39%

-4.29%

-1.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.29%

2.16%

-0.87%

Volatility

FAGB.L vs. IWVG.L - Volatility Comparison

The current volatility for Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg) (FAGB.L) is 1.19%, while iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L) has a volatility of 6.15%. This indicates that FAGB.L experiences smaller price fluctuations and is considered to be less risky than IWVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FAGB.LIWVG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.19%

6.15%

-4.96%

Volatility (6M)

Calculated over the trailing 6-month period

3.84%

13.11%

-9.27%

Volatility (1Y)

Calculated over the trailing 1-year period

4.65%

14.94%

-10.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.13%

13.44%

-6.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.53%

15.68%

-7.15%

Dividends

FAGB.L vs. IWVG.L - Dividend Comparison

FAGB.L has not paid dividends to shareholders, while IWVG.L's dividend yield for the trailing twelve months is around 1.93%.

PositionTTM20252024202320222021202020192018
FAGB.L
Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg)		0.00%0.00%0.00%0.00%0.00%0.00%0.05%0.00%0.00%
IWVG.L
iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)		1.93%2.48%3.12%3.22%3.11%2.61%2.37%2.90%2.48%

Frequently Asked Questions

FAGB.L and IWVG.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FAGB.L tracks Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg), while IWVG.L tracks MSCI ACWI Value NR USD. They also come from different issuers: Invesco and iShares.

Portfolio Optimizer

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