FLPE.L vs. IWVL.L
FLPE.L (Northern Trust Listed Private Equity UCITS ETF USD (Acc)) and IWVL.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)) are both Global Equities funds - FLPE.L tracks the MSCI World IMI Listed Private Equity Select (USD Net Total Return) Index while IWVL.L tracks the MSCI World Enhanced Value Index. Both are passively managed. Over the past 3 years, FLPE.L returned 10.30%/yr vs 24.23%/yr for IWVL.L. A 0.65 correlation means they provide meaningful diversification when combined. FLPE.L charges 0.40%/yr vs 0.25%/yr for IWVL.L.
Performance
FLPE.L vs. IWVL.L - Performance Comparison
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Different Trading Currencies
FLPE.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, FLPE.L achieves a -13.52% return, which is significantly lower than IWVL.L's 27.62% return.
FLPE.L
- 1D
- -0.18%
- 1M
- -0.53%
- 6M
- -16.48%
- YTD
- -13.52%
- 1Y
- -17.64%
- 3Y*
- 10.30%
- 5Y*
- —
- 10Y*
- —
IWVL.L
- 1D
- -0.34%
- 1M
- -6.17%
- 6M
- 22.45%
- YTD
- 27.62%
- 1Y
- 53.77%
- 3Y*
- 24.23%
- 5Y*
- 16.68%
- 10Y*
- 12.01%
FLPE.L vs. IWVL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FLPE.L Northern Trust Listed Private Equity UCITS ETF USD (Acc) | -13.52% | -1.74% | 31.38% | 35.15% | -37.39% |
IWVL.L iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) | 27.62% | 30.42% | 6.96% | 13.56% | 1.31% |
Correlation
The correlation between FLPE.L and IWVL.L is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022 | 0.65 |
The correlation between FLPE.L and IWVL.L has been stable across timeframes, ranging from 0.59 to 0.65 - a consistent structural relationship.
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Return for Risk
FLPE.L vs. IWVL.L — Risk / Return Rank
FLPE.L
IWVL.L
FLPE.L vs. IWVL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Trust Listed Private Equity UCITS ETF USD (Acc) (FLPE.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.
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.
| FLPE.L | IWVL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.08 | ||
| Sortino ratioReturn per unit of downside risk | -5.46 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.59 | -0.71 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | 6.84 | -7.46 |
| Martin ratioReturn relative to average drawdown | -1.15 | 23.54 | -24.69 |
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Drawdowns
FLPE.L vs. IWVL.L - Drawdown Comparison
The maximum FLPE.L drawdown since its inception was -43.46%, which is greater than IWVL.L's maximum drawdown of -28.56%. Use the drawdown chart below to compare losses from any high point for FLPE.L and IWVL.L.
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Drawdown Indicators
| FLPE.L | IWVL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.46% | -28.56% | -14.90% |
Max Drawdown (1Y)Largest decline over 1 year | -28.35% | -7.82% | -20.53% |
Max Drawdown (3Y)Largest decline over 3 years | -30.16% | -14.14% | -16.02% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.56% | — |
Current DrawdownCurrent decline from peak | -21.17% | -7.04% | -14.13% |
Average DrawdownAverage peak-to-trough decline | -20.81% | -4.50% | -16.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.30% | 2.28% | +13.02% |
Volatility
FLPE.L vs. IWVL.L - Volatility Comparison
Northern Trust Listed Private Equity UCITS ETF USD (Acc) (FLPE.L) and iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L) have volatilities of 5.99% and 6.12%, 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.
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Volatility by Period
| FLPE.L | IWVL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.99% | 6.12% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 17.69% | 14.59% | +3.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.57% | 16.43% | +5.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.09% | 14.66% | +11.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.09% | 16.10% | +9.99% |
FLPE.L vs. IWVL.L - Expense Ratio Comparison
FLPE.L has a 0.40% expense ratio, which is higher than IWVL.L's 0.25% expense ratio.
Dividends
FLPE.L vs. IWVL.L - Dividend Comparison
Neither FLPE.L nor IWVL.L has paid dividends to shareholders.
Frequently Asked Questions
FLPE.L and IWVL.L have a correlation of 0.59, 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 0.40% for FLPE.L.
FLPE.L tracks MSCI World IMI Listed Private Equity Select (USD Net Total Return) Index, while IWVL.L tracks MSCI World Enhanced Value Index. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.40% for FLPE.L and 0.25% for IWVL.L.
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