IEFS.L vs. ISAC.L
IEFS.L (iShares Edge MSCI Europe Size Factor UCITS ETF) and ISAC.L (iShares MSCI ACWI UCITS ETF USD (Acc)) are both exchange-traded funds - IEFS.L is a Europe Equities fund tracking the MSCI Europe SMID NR EUR, while ISAC.L is a Global Equities fund tracking the MSCI ACWI Index. Both are passively managed. Over the past 10 years, IEFS.L returned 8.37%/yr vs 13.48%/yr for ISAC.L. A 0.74 correlation means they provide meaningful diversification when combined. IEFS.L charges 0.25%/yr vs 0.20%/yr for ISAC.L.
Performance
IEFS.L vs. ISAC.L - Performance Comparison
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Different Trading Currencies
IEFS.L is traded in GBp, while ISAC.L is traded in USD. To make them comparable, the ISAC.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEFS.L achieves a 5.78% return, which is significantly lower than ISAC.L's 12.06% return. Over the past 10 years, IEFS.L has underperformed ISAC.L with an annualized return of 8.37%, while ISAC.L has yielded a comparatively higher 13.48% annualized return.
IEFS.L
- 1D
- -0.28%
- 1M
- 1.57%
- YTD
- 5.78%
- 6M
- 8.60%
- 1Y
- 16.22%
- 3Y*
- 12.43%
- 5Y*
- 5.82%
- 10Y*
- 8.37%
ISAC.L
- 1D
- 0.00%
- 1M
- 5.28%
- YTD
- 12.06%
- 6M
- 12.30%
- 1Y
- 30.14%
- 3Y*
- 18.17%
- 5Y*
- 12.60%
- 10Y*
- 13.48%
IEFS.L vs. ISAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEFS.L iShares Edge MSCI Europe Size Factor UCITS ETF | 5.78% | 24.40% | 0.75% | 11.87% | -13.35% | 12.21% | 7.23% | 20.36% | -12.26% | 18.08% |
ISAC.L iShares MSCI ACWI UCITS ETF USD (Acc) | 12.06% | 13.64% | 19.87% | 16.44% | -8.43% | 19.97% | 12.26% | 20.98% | -4.37% | 13.63% |
Correlation
The correlation between IEFS.L and ISAC.L is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
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 | 0.74 |
The correlation between IEFS.L and ISAC.L has been stable across timeframes, ranging from 0.65 to 0.74 - a consistent structural relationship.
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Return for Risk
IEFS.L vs. ISAC.L — Risk / Return Rank
IEFS.L
ISAC.L
IEFS.L vs. ISAC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.L) and iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.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.
| IEFS.L | ISAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.48 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 4.36 | -2.73 |
| Martin ratioReturn relative to average drawdown | 5.83 | 16.74 | -10.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEFS.L | ISAC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 2.52 | -1.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.88 | -0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.87 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.86 | -0.33 |
Drawdowns
IEFS.L vs. ISAC.L - Drawdown Comparison
The maximum IEFS.L drawdown since its inception was -31.02%, which is greater than ISAC.L's maximum drawdown of -25.84%. Use the drawdown chart below to compare losses from any high point for IEFS.L and ISAC.L.
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Drawdown Indicators
| IEFS.L | ISAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.02% | -25.84% | -5.18% |
Max Drawdown (1Y)Largest decline over 1 year | -9.91% | -6.88% | -3.03% |
Max Drawdown (3Y)Largest decline over 3 years | -11.84% | -18.33% | +6.49% |
Max Drawdown (5Y)Largest decline over 5 years | -26.40% | -18.33% | -8.07% |
Max Drawdown (10Y)Largest decline over 10 years | -31.02% | -25.84% | -5.18% |
Current DrawdownCurrent decline from peak | -2.40% | -0.36% | -2.04% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -3.56% | -2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 1.80% | +0.98% |
Volatility
IEFS.L vs. ISAC.L - Volatility Comparison
iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.L) and iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.L) have volatilities of 3.78% and 3.74%, 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
| IEFS.L | ISAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.78% | 3.74% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 9.75% | 9.25% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.72% | 11.90% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 14.29% | +0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 15.49% | +0.10% |
IEFS.L vs. ISAC.L - Expense Ratio Comparison
IEFS.L has a 0.25% expense ratio, which is higher than ISAC.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
IEFS.L vs. ISAC.L - Dividend Comparison
Neither IEFS.L nor ISAC.L has paid dividends to shareholders.
Frequently Asked Questions
IEFS.L and ISAC.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISAC.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISAC.L is cheaper with a 0.20% expense ratio, compared with 0.25% for IEFS.L.
IEFS.L is categorized as Europe Equities, while ISAC.L is Global Equities. IEFS.L tracks MSCI Europe SMID NR EUR, while ISAC.L tracks MSCI ACWI Index. Their fees differ too: 0.25% for IEFS.L and 0.20% for ISAC.L.
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