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FGLS.L vs. IWVL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FGLS.L vs. IWVL.L

Last updated Jun 4, 2026

FGLS.L (Fidelity Sustainable Research Enhanced Global Equity UCITS ETF Acc) and IWVL.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)) are both Global Equities funds - FGLS.L tracks the MSCI ACWI NR USD while IWVL.L tracks the MSCI World Enhanced Value Index. Both are passively managed. Over the past 5 years, FGLS.L returned 11.85%/yr vs 17.68%/yr for IWVL.L. A 0.74 correlation means they provide meaningful diversification when combined. FGLS.L charges 0.35%/yr vs 0.25%/yr for IWVL.L.

Performance

FGLS.L vs. IWVL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Fidelity Sustainable Research Enhanced Global Equity UCITS ETF Acc (FGLS.L) and iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

FGLS.L is traded in GBP, while IWVL.L is traded in USD. To make them comparable, the IWVL.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, FGLS.L achieves a 8.94% return, which is significantly lower than IWVL.L's 35.68% return.

FGLS.L

1D
-0.29%
1M
4.50%
YTD
8.94%
6M
9.24%
1Y
24.94%
3Y*
15.95%
5Y*
11.85%
10Y*
—

IWVL.L

1D
0.01%
1M
16.19%
YTD
35.68%
6M
39.01%
1Y
69.11%
3Y*
27.36%
5Y*
17.68%
10Y*
13.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FGLS.L vs. IWVL.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
FGLS.L
Fidelity Sustainable Research Enhanced Global Equity UCITS ETF Acc		8.94%10.06%19.92%17.58%-9.61%23.93%12.54%
IWVL.L
iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)		35.68%30.41%6.96%13.56%0.94%21.25%4.34%

Correlation

The correlation between FGLS.L and IWVL.L is 0.68, 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

0.68

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

0.70

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

0.74

Correlation (All Time)
Calculated using the full available price history since Jun 4, 2020

0.74

The correlation between FGLS.L and IWVL.L has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.

FGLS.L vs. IWVL.L - Sectors Allocation Comparison

Sectors
FGLS.L
IWVL.L

Technology

31.2%
33.9%

Financial Services

16.7%
14.8%

Communication Services

10.8%
7.6%

Industrials

9.6%
11.3%

Consumer Cyclical

9.2%
7.9%

Healthcare

9.0%
8.8%

Consumer Defensive

4.5%
4.5%

Energy

2.9%
3.8%

Basic Materials

2.8%
3.0%

Real Estate

1.7%
1.8%

Utilities

1.7%
2.5%

Technology

FGLS.L
31.2%
IWVL.L
33.9%

Financial Services

FGLS.L
16.7%
IWVL.L
14.8%

Communication Services

FGLS.L
10.8%
IWVL.L
7.6%

Industrials

FGLS.L
9.6%
IWVL.L
11.3%

Consumer Cyclical

FGLS.L
9.2%
IWVL.L
7.9%

Healthcare

FGLS.L
9.0%
IWVL.L
8.8%

Consumer Defensive

FGLS.L
4.5%
IWVL.L
4.5%

Energy

FGLS.L
2.9%
IWVL.L
3.8%

Basic Materials

FGLS.L
2.8%
IWVL.L
3.0%

Real Estate

FGLS.L
1.7%
IWVL.L
1.8%

Utilities

FGLS.L
1.7%
IWVL.L
2.5%

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Fidelity Sustainable Research Enhanced Global Equity UCITS ETF Acc

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

Often compared with FGLS.L:
FGLS.L vs. FUSS.LFGLS.L vs. FGQD.LFGLS.L vs. FEMQ.LFGLS.L vs. FEMD.LFGLS.L vs. FSMP.LFGLS.L vs. FEUR.LFGLS.L vs. FUSA.L
Often compared with IWVL.L:
IWVL.L vs. VWRA.LIWVL.L vs. IWDA.ASIWVL.L vs. IWQU.LIWVL.L vs. DFIVIWVL.L vs. VOOIWVL.L vs. URTHIWVL.L vs. VT

Return for Risk

FGLS.L vs. IWVL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FGLS.L
FGLS.L Risk / Return Rank: 7373
Overall Rank
FGLS.L Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
FGLS.L Sortino Ratio Rank: 7474
Sortino Ratio Rank
FGLS.L Omega Ratio Rank: 7575
Omega Ratio Rank
FGLS.L Calmar Ratio Rank: 6969
Calmar Ratio Rank
FGLS.L Martin Ratio Rank: 7373
Martin Ratio Rank
IWVL.L
IWVL.L Risk / Return Rank: 9595
Overall Rank
IWVL.L Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
IWVL.L Sortino Ratio Rank: 9797
Sortino Ratio Rank
IWVL.L Omega Ratio Rank: 9696
Omega Ratio Rank
IWVL.L Calmar Ratio Rank: 9595
Calmar Ratio Rank
IWVL.L Martin Ratio Rank: 9595
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.

FGLS.L vs. IWVL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable Research Enhanced Global Equity UCITS ETF Acc (FGLS.L) and iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.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.

FGLS.LIWVL.LDifference
Sharpe ratioReturn per unit of total volatility
2.37
4.65

-2.28

Sortino ratioReturn per unit of downside risk
3.31
6.22

-2.91

Omega ratioGain probability vs. loss probability

1.45

1.87

-0.43

Calmar ratioReturn relative to maximum drawdown

3.37

8.79

-5.42

Martin ratioReturn relative to average drawdown

13.71

36.79

-23.08

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGLS.L vs. IWVL.L - Sharpe Ratio Comparison

The current FGLS.L Sharpe Ratio is 2.37, which is lower than the IWVL.L Sharpe Ratio of 4.65. The chart below compares the historical Sharpe Ratios of FGLS.L and IWVL.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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Sharpe Ratios by Period

FGLS.LIWVL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.37

4.65

-2.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.89

1.23

-0.35

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.87

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.99

0.76

+0.23

Drawdowns

FGLS.L vs. IWVL.L - Drawdown Comparison

The maximum FGLS.L drawdown since its inception was -19.90%, smaller than the maximum IWVL.L drawdown of -28.56%. Use the drawdown chart below to compare losses from any high point for FGLS.L and IWVL.L.

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Drawdown Indicators

FGLS.LIWVL.LDifference

Max Drawdown

Largest peak-to-trough decline

-19.90%

-28.56%

+8.66%

Max Drawdown (1Y)

Largest decline over 1 year

-7.36%

-7.82%

+0.46%

Max Drawdown (3Y)

Largest decline over 3 years

-19.90%

-14.14%

-5.76%

Max Drawdown (5Y)

Largest decline over 5 years

-19.90%

-14.14%

-5.76%

Max Drawdown (10Y)

Largest decline over 10 years

—

-28.56%

—

Current Drawdown

Current decline from peak

-0.29%

0.00%

-0.29%

Average Drawdown

Average peak-to-trough decline

-3.15%

-4.52%

+1.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.81%

1.87%

-0.06%

Volatility

FGLS.L vs. IWVL.L - Volatility Comparison

The current volatility for Fidelity Sustainable Research Enhanced Global Equity UCITS ETF Acc (FGLS.L) is 2.61%, while iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L) has a volatility of 6.24%. This indicates that FGLS.L experiences smaller price fluctuations and is considered to be less risky than IWVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FGLS.LIWVL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.61%

6.24%

-3.63%

Volatility (6M)

Calculated over the trailing 6-month period

7.59%

12.59%

-5.00%

Volatility (1Y)

Calculated over the trailing 1-year period

10.50%

14.79%

-4.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.40%

14.34%

-0.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.75%

16.05%

-2.30%

FGLS.L vs. IWVL.L - Expense Ratio Comparison

FGLS.L has a 0.35% expense ratio, which is higher than IWVL.L's 0.25% expense ratio.

Dividends

FGLS.L vs. IWVL.L - Dividend Comparison

Neither FGLS.L nor IWVL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

FGLS.L and IWVL.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IWVL.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IWVL.L is cheaper with a 0.25% expense ratio, compared with 0.35% for FGLS.L.

FGLS.L tracks MSCI ACWI NR USD, while IWVL.L tracks MSCI World Enhanced Value Index. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.35% for FGLS.L and 0.25% for IWVL.L.

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