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

IEFQ.L vs. IEFM.L

Last updated Jun 5, 2026

IEFQ.L (iShares Edge MSCIope Quality Factor UCITS) and IEFM.L (iShares Edge MSCI Europe Momentum Factor UCITS ETF) are both exchange-traded funds - IEFQ.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while IEFM.L is a Momentum fund tracking the MSCI Europe Momentum Index. Both are passively managed. Over the past 10 years, IEFQ.L returned 8.84%/yr vs 12.41%/yr for IEFM.L. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

IEFQ.L vs. IEFM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCIope Quality Factor UCITS (IEFQ.L) and iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.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, IEFQ.L achieves a 3.66% return, which is significantly lower than IEFM.L's 6.92% return. Over the past 10 years, IEFQ.L has underperformed IEFM.L with an annualized return of 8.84%, while IEFM.L has yielded a comparatively higher 12.41% annualized return.

IEFQ.L

1D
0.91%
1M
-0.44%
YTD
3.66%
6M
5.04%
1Y
9.44%
3Y*
7.89%
5Y*
6.05%
10Y*
8.84%

IEFM.L

1D
-0.17%
1M
1.10%
YTD
6.92%
6M
10.66%
1Y
19.82%
3Y*
20.30%
5Y*
11.50%
10Y*
12.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
IEFQ.L
iShares Edge MSCIope Quality Factor UCITS		3.66%14.94%-0.69%12.31%-6.34%18.16%6.81%24.09%-5.79%14.92%
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%

Correlation

The correlation between IEFQ.L and IEFM.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

0.80

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

0.82

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

0.85

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

0.86

Over the past year, the correlation between IEFQ.L and IEFM.L has dropped to 0.65 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.

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

Sectors
IEFQ.L
IEFM.L

Financial Services

20.6%
23.3%

Industrials

19.1%
14.8%

Healthcare

14.4%
16.0%

Technology

12.0%
8.4%

Consumer Defensive

7.9%
3.1%

Consumer Cyclical

6.7%
0.5%

Basic Materials

5.6%
7.3%

Energy

4.9%
11.2%

Utilities

4.8%
12.2%

Communication Services

3.1%
3.0%

Real Estate

0.8%
0.4%

Financial Services

IEFQ.L
20.6%
IEFM.L
23.3%

Industrials

IEFQ.L
19.1%
IEFM.L
14.8%

Healthcare

IEFQ.L
14.4%
IEFM.L
16.0%

Technology

IEFQ.L
12.0%
IEFM.L
8.4%

Consumer Defensive

IEFQ.L
7.9%
IEFM.L
3.1%

Consumer Cyclical

IEFQ.L
6.7%
IEFM.L
0.5%

Basic Materials

IEFQ.L
5.6%
IEFM.L
7.3%

Energy

IEFQ.L
4.9%
IEFM.L
11.2%

Utilities

IEFQ.L
4.8%
IEFM.L
12.2%

Communication Services

IEFQ.L
3.1%
IEFM.L
3.0%

Real Estate

IEFQ.L
0.8%
IEFM.L
0.4%

Compare stocks, funds, or ETFs

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iShares Edge MSCIope Quality Factor UCITS

iShares Edge MSCI Europe Momentum Factor UCITS ETF

Often compared with IEFQ.L:
IEFQ.L vs. CS51.LIEFQ.L vs. EUN.LIEFQ.L vs. AVDEIEFQ.L vs. VEUA.LIEFQ.L vs. IMEU.LIEFQ.L vs. VOOIEFQ.L vs. SMEA.L
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

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEFQ.L
IEFQ.L Risk / Return Rank: 2424
Overall Rank
IEFQ.L Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
IEFQ.L Sortino Ratio Rank: 2323
Sortino Ratio Rank
IEFQ.L Omega Ratio Rank: 2424
Omega Ratio Rank
IEFQ.L Calmar Ratio Rank: 2222
Calmar Ratio Rank
IEFQ.L Martin Ratio Rank: 2525
Martin Ratio Rank
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
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.

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

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

IEFQ.LIEFM.LDifference
Sharpe ratioReturn per unit of total volatility
0.84
0.82

+0.01

Sortino ratioReturn per unit of downside risk
1.22
1.35

-0.13

Omega ratioGain probability vs. loss probability

1.15

1.23

-0.07

Calmar ratioReturn relative to maximum drawdown

0.99

1.46

-0.47

Martin ratioReturn relative to average drawdown

3.18

3.55

-0.37

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

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

The current IEFQ.L Sharpe Ratio is 0.84, which is comparable to the IEFM.L Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of IEFQ.L and IEFM.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

IEFQ.LIEFM.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.84

0.82

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.45

0.64

-0.20

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.62

0.73

-0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

0.68

-0.08

Drawdowns

IEFQ.L vs. IEFM.L - Drawdown Comparison

The maximum IEFQ.L drawdown since its inception was -26.38%, which is greater than IEFM.L's maximum drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for IEFQ.L and IEFM.L.

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Drawdown Indicators

IEFQ.LIEFM.LDifference

Max Drawdown

Largest peak-to-trough decline

-26.38%

-23.88%

-2.50%

Max Drawdown (1Y)

Largest decline over 1 year

-9.67%

-14.04%

+4.37%

Max Drawdown (3Y)

Largest decline over 3 years

-11.47%

-14.04%

+2.57%

Max Drawdown (5Y)

Largest decline over 5 years

-17.73%

-21.33%

+3.60%

Max Drawdown (10Y)

Largest decline over 10 years

-26.38%

-23.88%

-2.50%

Current Drawdown

Current decline from peak

-3.33%

-1.75%

-1.58%

Average Drawdown

Average peak-to-trough decline

-4.00%

-5.23%

+1.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.02%

5.79%

-2.77%

Volatility

IEFQ.L vs. IEFM.L - Volatility Comparison

The current volatility for iShares Edge MSCIope Quality Factor UCITS (IEFQ.L) is 3.63%, while iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) has a volatility of 3.99%. This indicates that IEFQ.L experiences smaller price fluctuations and is considered to be less risky than IEFM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEFQ.LIEFM.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.63%

3.99%

-0.36%

Volatility (6M)

Calculated over the trailing 6-month period

9.39%

13.91%

-4.52%

Volatility (1Y)

Calculated over the trailing 1-year period

11.46%

24.98%

-13.52%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.52%

17.82%

-4.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.26%

17.03%

-2.77%

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

Both IEFQ.L and IEFM.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

IEFQ.L vs. IEFM.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

IEFQ.L and IEFM.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.

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

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

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

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