HEDG.L vs. IMV.L

Last updated Jun 5, 2026

HEDG.L (WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF) and IMV.L (iShares Edge MSCI Europe Min Volatility UCITS) are both Europe Equities funds tracking the MSCI Europe NR EUR, from WisdomTree and iShares respectively. Both are passively managed. Over the past 5 years, HEDG.L returned 9.12%/yr vs 7.54%/yr for IMV.L. At a 0.29 correlation, their price movements are largely independent. HEDG.L charges 0.32%/yr vs 0.25%/yr for IMV.L.

Performance

HEDG.L vs. IMV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF (HEDG.L) and iShares Edge MSCI Europe Min Volatility UCITS (IMV.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with HEDG.L having a 4.93% return and IMV.L slightly lower at 4.72%.

HEDG.L

• 1D: 0.40%
• 1M: 1.20%
• YTD: 4.93%
• 6M: 5.56%
• 1Y: 16.38%
• 3Y*: 13.51%
• 5Y*: 9.12%
• 10Y*: —

IMV.L

• 1D: 0.51%
• 1M: -0.33%
• YTD: 4.72%
• 6M: 6.08%
• 1Y: 8.16%
• 3Y*: 10.49%
• 5Y*: 7.54%
• 10Y*: 7.68%

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

HEDG.L vs. IMV.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HEDG.L WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF	4.93%	27.46%	-0.46%	21.61%	-8.76%	15.18%	-0.53%	16.73%	-8.10%	21.47%
IMV.L iShares Edge MSCI Europe Min Volatility UCITS	4.72%	17.66%	6.63%	8.56%	-7.83%	13.68%	1.50%	16.37%	-2.91%	13.29%

Correlation

The correlation between HEDG.L and IMV.L is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since Sep 5, 2016	0.29

Over the past year, HEDG.L and IMV.L have become more correlated (0.64) than their long-term average of 0.29, meaning their price movements have been converging.

HEDG.L vs. IMV.L - Sectors Allocation Comparison

Sectors	HEDG.L	IMV.L
Industrials	20.9%	15.4%
Financial Services	15.2%	17.9%
Consumer Cyclical	13.6%	3.6%
Consumer Defensive	12.8%	13.1%
Technology	12.4%	2.8%
Healthcare	8.5%	13.0%
Basic Materials	6.9%	5.6%
Communication Services	6.0%	9.6%
Energy	3.8%	7.1%
Real Estate	-	1.6%
Utilities	-	10.2%

Return for Risk

HEDG.L vs. IMV.L — Risk / Return Rank

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

HEDG.L

HEDG.L Risk / Return Rank: 32
HEDG.L Sharpe Ratio Rank: 33
HEDG.L Sortino Ratio Rank: 33
HEDG.L Omega Ratio Rank: 33
HEDG.L Calmar Ratio Rank: 29
HEDG.L Martin Ratio Rank: 32

IMV.L

IMV.L Risk / Return Rank: 24
IMV.L Sharpe Ratio Rank: 26
IMV.L Sortino Ratio Rank: 24
IMV.L Omega Ratio Rank: 26
IMV.L Calmar Ratio Rank: 22
IMV.L Martin Ratio Rank: 23

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.

HEDG.L vs. IMV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF (HEDG.L) and iShares Edge MSCI Europe Min Volatility UCITS (IMV.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.

	HEDG.L	IMV.L	Difference
Sharpe ratio: Return per unit of total volatility	1.17	0.91	+0.26
Sortino ratio: Return per unit of downside risk	1.71	1.27	+0.44
Omega ratio: Gain probability vs. loss probability	1.22	1.17	+0.05
Calmar ratio: Return relative to maximum drawdown	1.36	0.97	+0.38
Martin ratio: Return relative to average drawdown	4.66	2.92	+1.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEDG.L vs. IMV.L - Sharpe Ratio Comparison

The current HEDG.L Sharpe Ratio is 1.17, which is comparable to the IMV.L Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of HEDG.L and IMV.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.

Sharpe Ratios by Period

	HEDG.L	IMV.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	0.91	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.69	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.71	+0.33

Drawdowns

HEDG.L vs. IMV.L - Drawdown Comparison

The maximum HEDG.L drawdown since its inception was -28.32%, which is greater than IMV.L's maximum drawdown of -24.48%. Use the drawdown chart below to compare losses from any high point for HEDG.L and IMV.L.

Drawdown Indicators

	HEDG.L	IMV.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.32%	-24.48%	-3.84%
Max Drawdown (1Y) Largest decline over 1 year	-12.22%	-8.50%	-3.72%
Max Drawdown (3Y) Largest decline over 3 years	-13.02%	-8.50%	-4.52%
Max Drawdown (5Y) Largest decline over 5 years	-18.10%	-17.42%	-0.68%
Max Drawdown (10Y) Largest decline over 10 years	—	-24.48%	—
Current Drawdown Current decline from peak	-1.89%	-4.62%	+2.73%
Average Drawdown Average peak-to-trough decline	-4.20%	-3.57%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	2.83%	+0.73%

Volatility

HEDG.L vs. IMV.L - Volatility Comparison

WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF (HEDG.L) has a higher volatility of 4.41% compared to iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) at 2.89%. This indicates that HEDG.L's price experiences larger fluctuations and is considered to be riskier than IMV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEDG.L	IMV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	2.89%	+1.52%
Volatility (6M) Calculated over the trailing 6-month period	11.64%	7.71%	+3.93%
Volatility (1Y) Calculated over the trailing 1-year period	14.23%	9.13%	+5.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.92%	10.97%	+7.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.82%	12.31%	+14.51%

HEDG.L vs. IMV.L - Expense Ratio Comparison

HEDG.L has a 0.32% expense ratio, which is higher than IMV.L's 0.25% expense ratio.

Dividends

HEDG.L vs. IMV.L - Dividend Comparison

Neither HEDG.L nor IMV.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both HEDG.L and IMV.L in my portfolio?

HEDG.L and IMV.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HEDG.L or IMV.L?

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

Which ETF is cheaper, HEDG.L or IMV.L?

IMV.L is cheaper with a 0.25% expense ratio, compared with 0.32% for HEDG.L.

What is the main difference between HEDG.L and IMV.L?

Both ETFs track MSCI Europe NR EUR. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.32% for HEDG.L and 0.25% for IMV.L.