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IEFV.L vs. PQVG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEFV.L vs. PQVG.L

Last updated Jun 5, 2026

IEFV.L (iShares Edge MSCI Europe Value Factor UCITS ETF) and PQVG.L (Invesco S&P 500 QVM UCITS ETF) are both exchange-traded funds - IEFV.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR, while PQVG.L is a S&P 500 fund tracking the S&P 500 Quality, Value, and Momentum Multi-Factor Index (Net Total Return). Both are passively managed. Over the past 5 years, IEFV.L returned 14.64%/yr vs 16.68%/yr for PQVG.L. A 0.57 correlation means they provide meaningful diversification when combined. IEFV.L charges 0.25%/yr vs 0.35%/yr for PQVG.L.

Performance

IEFV.L vs. PQVG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) and Invesco S&P 500 QVM UCITS ETF (PQVG.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, IEFV.L achieves a 12.95% return, which is significantly lower than PQVG.L's 16.79% return.

IEFV.L

1D
0.27%
1M
5.00%
YTD
12.95%
6M
16.06%
1Y
36.47%
3Y*
21.78%
5Y*
14.64%
10Y*
11.79%

PQVG.L

1D
0.36%
1M
5.36%
YTD
16.79%
6M
17.07%
1Y
24.01%
3Y*
21.17%
5Y*
16.68%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
IEFV.L
iShares Edge MSCI Europe Value Factor UCITS ETF		12.95%42.20%5.40%11.41%1.47%18.58%-3.74%15.71%-12.67%3.82%
PQVG.L
Invesco S&P 500 QVM UCITS ETF		16.79%5.84%32.29%0.98%12.54%27.78%4.44%21.16%-1.98%14.30%

Correlation

The correlation between IEFV.L and PQVG.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.37

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

0.34

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

0.47

Correlation (All Time)
Calculated using the full available price history since May 24, 2017

0.57

Over the past year, the correlation between IEFV.L and PQVG.L has dropped to 0.37 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

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

Sectors
IEFV.L
PQVG.L

Financial Services

22.6%
21.8%

Industrials

17.4%
15.6%

Healthcare

12.5%
9.5%

Technology

12.1%
24.3%

Consumer Defensive

8.6%
5.6%

Consumer Cyclical

6.6%
4.3%

Basic Materials

6.3%
2.2%

Energy

5.0%
5.6%

Utilities

4.4%
0.8%

Communication Services

3.8%
10.4%

Real Estate

0.7%

-

Financial Services

IEFV.L
22.6%
PQVG.L
21.8%

Industrials

IEFV.L
17.4%
PQVG.L
15.6%

Healthcare

IEFV.L
12.5%
PQVG.L
9.5%

Technology

IEFV.L
12.1%
PQVG.L
24.3%

Consumer Defensive

IEFV.L
8.6%
PQVG.L
5.6%

Consumer Cyclical

IEFV.L
6.6%
PQVG.L
4.3%

Basic Materials

IEFV.L
6.3%
PQVG.L
2.2%

Energy

IEFV.L
5.0%
PQVG.L
5.6%

Utilities

IEFV.L
4.4%
PQVG.L
0.8%

Communication Services

IEFV.L
3.8%
PQVG.L
10.4%

Real Estate

IEFV.L
0.7%
PQVG.L

-

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iShares Edge MSCI Europe Value Factor UCITS ETF

Invesco S&P 500 QVM UCITS ETF

Often compared with IEFV.L:
IEFV.L vs. EVAL.LIEFV.L vs. BRK-BIEFV.L vs. NASL.LIEFV.L vs. SMEA.LIEFV.L vs. UC96.LIEFV.L vs. XDAX.LIEFV.L vs. EFV
Often compared with PQVG.L:
PQVG.L vs. IQSA.LPQVG.L vs. SPPY.DEPQVG.L vs. SPMOPQVG.L vs. TSGB.LPQVG.L vs. CSPX.LPQVG.L vs. DYNFPQVG.L vs. SPXP.L

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEFV.L
IEFV.L Risk / Return Rank: 7878
Overall Rank
IEFV.L Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
IEFV.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
IEFV.L Omega Ratio Rank: 8484
Omega Ratio Rank
IEFV.L Calmar Ratio Rank: 7070
Calmar Ratio Rank
IEFV.L Martin Ratio Rank: 6969
Martin Ratio Rank
PQVG.L
PQVG.L Risk / Return Rank: 7878
Overall Rank
PQVG.L Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
PQVG.L Sortino Ratio Rank: 7474
Sortino Ratio Rank
PQVG.L Omega Ratio Rank: 6969
Omega Ratio Rank
PQVG.L Calmar Ratio Rank: 9191
Calmar Ratio Rank
PQVG.L Martin Ratio Rank: 8585
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) and Invesco S&P 500 QVM UCITS ETF (PQVG.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.

IEFV.LPQVG.LDifference
Sharpe ratioReturn per unit of total volatility
2.74
2.31

+0.43

Sortino ratioReturn per unit of downside risk
3.69
3.28

+0.40

Omega ratioGain probability vs. loss probability

1.50

1.41

+0.09

Calmar ratioReturn relative to maximum drawdown

3.43

5.82

-2.38

Martin ratioReturn relative to average drawdown

12.64

17.49

-4.85

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

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

The current IEFV.L Sharpe Ratio is 2.74, which is comparable to the PQVG.L Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of IEFV.L and PQVG.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

IEFV.LPQVG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.74

2.31

+0.43

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.97

1.12

-0.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.71

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.89

-0.30

Drawdowns

IEFV.L vs. PQVG.L - Drawdown Comparison

The maximum IEFV.L drawdown since its inception was -34.64%, which is greater than PQVG.L's maximum drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for IEFV.L and PQVG.L.

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Drawdown Indicators

IEFV.LPQVG.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.64%

-25.88%

-8.76%

Max Drawdown (1Y)

Largest decline over 1 year

-10.57%

-4.11%

-6.46%

Max Drawdown (3Y)

Largest decline over 3 years

-15.02%

-17.44%

+2.42%

Max Drawdown (5Y)

Largest decline over 5 years

-16.16%

-17.44%

+1.28%

Max Drawdown (10Y)

Largest decline over 10 years

-34.64%

—

—

Current Drawdown

Current decline from peak

-0.70%

0.00%

-0.70%

Average Drawdown

Average peak-to-trough decline

-5.95%

-4.17%

-1.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.88%

1.37%

+1.51%

Volatility

IEFV.L vs. PQVG.L - Volatility Comparison

iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) has a higher volatility of 4.25% compared to Invesco S&P 500 QVM UCITS ETF (PQVG.L) at 2.79%. This indicates that IEFV.L's price experiences larger fluctuations and is considered to be riskier than PQVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEFV.LPQVG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.25%

2.79%

+1.46%

Volatility (6M)

Calculated over the trailing 6-month period

10.74%

7.88%

+2.86%

Volatility (1Y)

Calculated over the trailing 1-year period

13.27%

10.37%

+2.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.04%

14.89%

+0.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.70%

16.24%

+0.46%

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

IEFV.L has a 0.25% expense ratio, which is lower than PQVG.L's 0.35% expense ratio.

Dividends

IEFV.L vs. PQVG.L - Dividend Comparison

IEFV.L has not paid dividends to shareholders, while PQVG.L's dividend yield for the trailing twelve months is around 0.77%.

PositionTTM202520242023202220212020201920182017
IEFV.L
iShares Edge MSCI Europe Value Factor UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PQVG.L
Invesco S&P 500 QVM UCITS ETF		0.77%0.82%0.82%1.61%1.77%0.87%1.59%1.41%1.30%0.72%

Frequently Asked Questions

IEFV.L and PQVG.L have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

IEFV.L is cheaper with a 0.25% expense ratio, compared with 0.35% for PQVG.L.

IEFV.L is categorized as Europe Equities, while PQVG.L is S&P 500. IEFV.L tracks MSCI Europe Value NR EUR, while PQVG.L tracks S&P 500 Quality, Value, and Momentum Multi-Factor Index (Net Total Return). They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for IEFV.L and 0.35% for PQVG.L.

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