IEFM.L vs. IEFV.L

Last updated Jun 13, 2026

IEFM.L (iShares Edge MSCI Europe Momentum Factor UCITS ETF) and IEFV.L (iShares Edge MSCI Europe Value Factor UCITS ETF) are both exchange-traded funds - IEFM.L is a Momentum fund tracking the MSCI Europe Momentum Index, while IEFV.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR. Both are passively managed. Over the past 10 years, IEFM.L returned 13.00%/yr vs 12.53%/yr for IEFV.L. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.

Performance

IEFM.L vs. IEFV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) and iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IEFM.L achieves a 7.84% return, which is significantly lower than IEFV.L's 13.29% return. Both investments have delivered pretty close results over the past 10 years, with IEFM.L having a 13.00% annualized return and IEFV.L not far behind at 12.53%.

IEFM.L

• 1D: 1.60%
• 1M: 2.32%
• YTD: 7.84%
• 6M: 10.12%
• 1Y: 22.14%
• 3Y*: 20.53%
• 5Y*: 11.67%
• 10Y*: 13.00%

IEFV.L

• 1D: 2.32%
• 1M: 3.09%
• YTD: 13.29%
• 6M: 14.84%
• 1Y: 34.42%
• 3Y*: 21.49%
• 5Y*: 14.55%
• 10Y*: 12.53%

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

IEFM.L vs. IEFV.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEFM.L iShares Edge MSCI Europe Momentum Factor UCITS ETF	7.84%	33.05%	15.03%	10.37%	-9.80%	14.07%	17.04%	23.39%	-9.34%	15.91%
IEFV.L iShares Edge MSCI Europe Value Factor UCITS ETF	13.29%	42.20%	5.40%	11.41%	1.47%	18.58%	-3.74%	15.71%	-12.67%	14.28%

Correlation

The correlation between IEFM.L and IEFV.L is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015	0.78

The correlation between IEFM.L and IEFV.L has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

IEFM.L vs. IEFV.L - Sectors Allocation Comparison

Sectors	IEFM.L	IEFV.L
Financial Services	23.8%	22.6%
Healthcare	15.7%	12.5%
Industrials	15.0%	17.4%
Utilities	11.9%	4.4%
Energy	10.3%	5.0%
Technology	9.2%	12.1%
Basic Materials	7.6%	6.3%
Consumer Defensive	2.9%	8.6%
Communication Services	2.8%	3.8%
Consumer Cyclical	0.5%	6.6%
Real Estate	0.4%	0.7%

Return for Risk

IEFM.L vs. IEFV.L — Risk / Return Rank

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

IEFM.L

IEFM.L Risk / Return Rank: 44
IEFM.L Sharpe Ratio Rank: 44
IEFM.L Sortino Ratio Rank: 45
IEFM.L Omega Ratio Rank: 44
IEFM.L Calmar Ratio Rank: 42
IEFM.L Martin Ratio Rank: 46

IEFV.L

IEFV.L Risk / Return Rank: 81
IEFV.L Sharpe Ratio Rank: 88
IEFV.L Sortino Ratio Rank: 87
IEFV.L Omega Ratio Rank: 86
IEFV.L Calmar Ratio Rank: 72
IEFV.L Martin Ratio Rank: 72

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.

IEFM.L vs. IEFV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) and iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.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.

	IEFM.L	IEFV.L	Difference
Sharpe ratio: Return per unit of total volatility	1.36	2.52	-1.17
Sortino ratio: Return per unit of downside risk	2.02	3.46	-1.44
Omega ratio: Gain probability vs. loss probability	1.25	1.46	-0.21
Calmar ratio: Return relative to maximum drawdown	1.83	3.24	-1.41
Martin ratio: Return relative to average drawdown	6.72	11.85	-5.13

IEFM.L vs. IEFV.L - Sharpe Ratio Comparison

The current IEFM.L Sharpe Ratio is 1.36, which is lower than the IEFV.L Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of IEFM.L and IEFV.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.

Drawdowns

IEFM.L vs. IEFV.L - Drawdown Comparison

The maximum IEFM.L drawdown since its inception was -23.88%, smaller than the maximum IEFV.L drawdown of -34.64%. Use the drawdown chart below to compare losses from any high point for IEFM.L and IEFV.L.

Drawdown Indicators

	IEFM.L	IEFV.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.88%	-34.64%	+10.76%
Max Drawdown (1Y) Largest decline over 1 year	-12.05%	-10.57%	-1.48%
Max Drawdown (3Y) Largest decline over 3 years	-12.95%	-15.02%	+2.07%
Max Drawdown (5Y) Largest decline over 5 years	-21.33%	-16.16%	-5.17%
Max Drawdown (10Y) Largest decline over 10 years	-23.88%	-34.64%	+10.76%
Current Drawdown Current decline from peak	-0.77%	-0.39%	-0.38%
Average Drawdown Average peak-to-trough decline	-5.04%	-6.20%	+1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	2.90%	+0.39%

Volatility

IEFM.L vs. IEFV.L - Volatility Comparison

The current volatility for iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) is 4.17%, while iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) has a volatility of 4.41%. This indicates that IEFM.L experiences smaller price fluctuations and is considered to be less risky than IEFV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEFM.L	IEFV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	4.41%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	14.10%	11.07%	+3.03%
Volatility (1Y) Calculated over the trailing 1-year period	16.23%	13.57%	+2.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.67%	17.11%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.95%	17.63%	-1.68%

IEFM.L vs. IEFV.L - Expense Ratio Comparison

Both IEFM.L and IEFV.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IEFM.L vs. IEFV.L - Dividend Comparison

Neither IEFM.L nor IEFV.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IEFM.L and IEFV.L in my portfolio?

IEFM.L and IEFV.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IEFM.L or IEFV.L?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IEFM.L or IEFV.L?

IEFM.L and IEFV.L have the same expense ratio: 0.25% per year.

What is the main difference between IEFM.L and IEFV.L?

IEFM.L is categorized as Momentum, while IEFV.L is Europe Equities. IEFM.L tracks MSCI Europe Momentum Index, while IEFV.L tracks MSCI Europe Value NR EUR.