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IEFM.L vs. SWDA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEFM.L vs. SWDA.L

Last updated Jun 5, 2026

IEFM.L (iShares Edge MSCI Europe Momentum Factor UCITS ETF) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - IEFM.L is a Momentum fund tracking the MSCI Europe Momentum Index, while SWDA.L is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, IEFM.L returned 12.41%/yr vs 13.91%/yr for SWDA.L. A 0.75 correlation means they provide meaningful diversification when combined. IEFM.L charges 0.25%/yr vs 0.20%/yr for SWDA.L.

Performance

IEFM.L vs. SWDA.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 Core MSCI World UCITS ETF USD (Acc) (SWDA.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IEFM.L achieves a 6.92% return, which is significantly lower than SWDA.L's 10.08% return. Over the past 10 years, IEFM.L has underperformed SWDA.L with an annualized return of 12.41%, while SWDA.L has yielded a comparatively higher 13.91% annualized return.

IEFM.L

1D
-0.17%
1M
2.97%
YTD
6.92%
6M
10.23%
1Y
20.60%
3Y*
20.30%
5Y*
11.50%
10Y*
12.41%

SWDA.L

1D
0.15%
1M
5.12%
YTD
10.08%
6M
10.35%
1Y
27.25%
3Y*
17.68%
5Y*
13.06%
10Y*
13.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
IEFM.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF		6.92%33.05%15.03%10.37%-9.80%14.07%17.04%23.39%-9.90%16.64%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		10.08%12.64%21.11%17.59%-8.33%23.64%12.25%23.03%-3.78%11.78%

Correlation

The correlation between IEFM.L and SWDA.L is 0.65, 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

0.65

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

0.66

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

0.68

Correlation (10Y)
Calculated over the trailing 10-year period

0.73

Correlation (All Time)
Calculated using the full available price history since Jan 20, 2015

0.75

The correlation between IEFM.L and SWDA.L shifts across timeframes, from 0.65 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

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

Sectors
IEFM.L
SWDA.L

Financial Services

23.3%
15.4%

Healthcare

16.0%
8.7%

Industrials

14.8%
10.9%

Utilities

12.2%
2.5%

Energy

11.2%
4.2%

Technology

8.4%
30.0%

Basic Materials

7.3%
3.2%

Consumer Defensive

3.1%
5.2%

Communication Services

3.0%
9.2%

Consumer Cyclical

0.5%
9.0%

Real Estate

0.4%
1.8%

Financial Services

IEFM.L
23.3%
SWDA.L
15.4%

Healthcare

IEFM.L
16.0%
SWDA.L
8.7%

Industrials

IEFM.L
14.8%
SWDA.L
10.9%

Utilities

IEFM.L
12.2%
SWDA.L
2.5%

Energy

IEFM.L
11.2%
SWDA.L
4.2%

Technology

IEFM.L
8.4%
SWDA.L
30.0%

Basic Materials

IEFM.L
7.3%
SWDA.L
3.2%

Consumer Defensive

IEFM.L
3.1%
SWDA.L
5.2%

Communication Services

IEFM.L
3.0%
SWDA.L
9.2%

Consumer Cyclical

IEFM.L
0.5%
SWDA.L
9.0%

Real Estate

IEFM.L
0.4%
SWDA.L
1.8%

Compare stocks, funds, or ETFs

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iShares Edge MSCI Europe Momentum Factor UCITS ETF

iShares Core MSCI World UCITS ETF USD (Acc)

Often compared with IEFM.L:
IEFM.L vs. MTUMIEFM.L vs. VUKE.DEIEFM.L vs. CEMR.DEIEFM.L vs. EXO.ASIEFM.L vs. SPYF.DEIEFM.L vs. QDVX.DEIEFM.L vs. ESIF.L
Often compared with SWDA.L:
SWDA.L vs. IWDA.LSWDA.L vs. VWRP.LSWDA.L vs. VWCE.DESWDA.L vs. SPYSWDA.L vs. IUSQ.DESWDA.L vs. EUN.LSWDA.L vs. VOO

Return for Risk

IEFM.L vs. SWDA.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: 2828
Overall Rank
IEFM.L Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
IEFM.L Sortino Ratio Rank: 2525
Sortino Ratio Rank
IEFM.L Omega Ratio Rank: 3535
Omega Ratio Rank
IEFM.L Calmar Ratio Rank: 3030
Calmar Ratio Rank
IEFM.L Martin Ratio Rank: 2626
Martin Ratio Rank
SWDA.L
SWDA.L Risk / Return Rank: 8383
Overall Rank
SWDA.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
SWDA.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
SWDA.L Omega Ratio Rank: 8484
Omega Ratio Rank
SWDA.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
SWDA.L Martin Ratio Rank: 8383
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.

IEFM.L vs. SWDA.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 Core MSCI World UCITS ETF USD (Acc) (SWDA.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.

IEFM.LSWDA.LDifference
Sharpe ratioReturn per unit of total volatility
0.82
2.66

-1.84

Sortino ratioReturn per unit of downside risk
1.35
3.69

-2.34

Omega ratioGain probability vs. loss probability

1.23

1.51

-0.28

Calmar ratioReturn relative to maximum drawdown

1.46

4.14

-2.68

Martin ratioReturn relative to average drawdown

3.55

16.55

-13.01

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

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

The current IEFM.L Sharpe Ratio is 0.82, which is lower than the SWDA.L Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of IEFM.L and SWDA.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

IEFM.LSWDA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.82

2.66

-1.84

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.64

0.98

-0.34

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.73

0.96

-0.23

Sharpe Ratio (All Time)

Calculated using the full available price history

0.68

0.88

-0.21

Drawdowns

IEFM.L vs. SWDA.L - Drawdown Comparison

The maximum IEFM.L drawdown since its inception was -23.88%, smaller than the maximum SWDA.L drawdown of -25.58%. Use the drawdown chart below to compare losses from any high point for IEFM.L and SWDA.L.

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Drawdown Indicators

IEFM.LSWDA.LDifference

Max Drawdown

Largest peak-to-trough decline

-23.88%

-25.58%

+1.70%

Max Drawdown (1Y)

Largest decline over 1 year

-14.04%

-6.55%

-7.49%

Max Drawdown (3Y)

Largest decline over 3 years

-14.04%

-18.50%

+4.46%

Max Drawdown (5Y)

Largest decline over 5 years

-21.33%

-18.50%

-2.83%

Max Drawdown (10Y)

Largest decline over 10 years

-23.88%

-25.58%

+1.70%

Current Drawdown

Current decline from peak

-1.75%

-0.10%

-1.65%

Average Drawdown

Average peak-to-trough decline

-5.23%

-3.49%

-1.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.79%

1.64%

+4.15%

Volatility

IEFM.L vs. SWDA.L - Volatility Comparison

iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) has a higher volatility of 3.99% compared to iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) at 2.52%. This indicates that IEFM.L's price experiences larger fluctuations and is considered to be riskier than SWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEFM.LSWDA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.99%

2.52%

+1.47%

Volatility (6M)

Calculated over the trailing 6-month period

13.91%

7.29%

+6.62%

Volatility (1Y)

Calculated over the trailing 1-year period

24.98%

10.19%

+14.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.82%

13.30%

+4.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.03%

14.50%

+2.53%

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

IEFM.L has a 0.25% expense ratio, which is higher than SWDA.L's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IEFM.L vs. SWDA.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

IEFM.L and SWDA.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SWDA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SWDA.L is cheaper with a 0.20% expense ratio, compared with 0.25% for IEFM.L.

IEFM.L is categorized as Momentum, while SWDA.L is Global Equities. IEFM.L tracks MSCI Europe Momentum Index, while SWDA.L tracks MSCI World Index. Their fees differ too: 0.25% for IEFM.L and 0.20% for SWDA.L.

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