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IEMD.L vs. IVV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEMD.L vs. IVV

Last updated Jun 4, 2026

IEMD.L (iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - IEMD.L is a Momentum fund tracking the MSCI Europe Momentum Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, IEMD.L returned 11.41%/yr vs 14.95%/yr for IVV. At a 0.41 correlation, their price movements are largely independent. IEMD.L charges 0.25%/yr vs 0.03%/yr for IVV.

Performance

IEMD.L vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) (IEMD.L) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IEMD.L is traded in EUR, while IVV is traded in USD. To make them comparable, the IVV values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IEMD.L achieves a 8.37% return, which is significantly lower than IVV's 12.18% return.

IEMD.L

1D
0.14%
1M
2.14%
YTD
8.37%
6M
12.50%
1Y
18.20%
3Y*
20.04%
5Y*
11.41%
10Y*
—

IVV

1D
-0.55%
1M
5.72%
YTD
12.18%
6M
11.48%
1Y
25.45%
3Y*
19.18%
5Y*
14.95%
10Y*
15.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEMD.L vs. IVV - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IEMD.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)		8.37%26.34%20.48%12.54%-14.50%21.92%10.99%29.63%-9.29%
IVV
iShares Core S&P 500 ETF		12.18%3.86%33.18%22.52%-13.09%38.39%8.64%34.03%-0.08%

Correlation

The correlation between IEMD.L and IVV is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.44

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

0.39

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

0.38

Correlation (All Time)
Calculated using the full available price history since Mar 1, 2018

0.41

IEMD.L vs. IVV - Sectors Allocation Comparison

Sectors
IEMD.L
IVV

Financial Services

23.7%
11.8%

Healthcare

15.6%
8.5%

Industrials

15.2%
8.3%

Utilities

12.6%
2.4%

Energy

11.0%
3.5%

Technology

7.9%
35.6%

Basic Materials

7.6%
1.8%

Communication Services

2.9%
11.2%

Consumer Defensive

2.8%
4.9%

Consumer Cyclical

0.5%
10.1%

Real Estate

0.4%
1.9%

Financial Services

IEMD.L
23.7%
IVV
11.8%

Healthcare

IEMD.L
15.6%
IVV
8.5%

Industrials

IEMD.L
15.2%
IVV
8.3%

Utilities

IEMD.L
12.6%
IVV
2.4%

Energy

IEMD.L
11.0%
IVV
3.5%

Technology

IEMD.L
7.9%
IVV
35.6%

Basic Materials

IEMD.L
7.6%
IVV
1.8%

Communication Services

IEMD.L
2.9%
IVV
11.2%

Consumer Defensive

IEMD.L
2.8%
IVV
4.9%

Consumer Cyclical

IEMD.L
0.5%
IVV
10.1%

Real Estate

IEMD.L
0.4%
IVV
1.9%

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iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)

iShares Core S&P 500 ETF

Often compared with IEMD.L:
IEMD.L vs. CEMR.DEIEMD.L vs. EIMI.LIEMD.L vs. ZPDX.DEIEMD.L vs. URTHIEMD.L vs. VOOIEMD.L vs. IWMO.LIEMD.L vs. SPY
Often compared with IVV:
IVV vs. VOOIVV vs. SPYIVV vs. FXAIXIVV vs. QQQIVV vs. VTIIVV vs. IOOIVV vs. CSPX.L

Return for Risk

IEMD.L vs. IVV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEMD.L
IEMD.L Risk / Return Rank: 3232
Overall Rank
IEMD.L Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
IEMD.L Sortino Ratio Rank: 3030
Sortino Ratio Rank
IEMD.L Omega Ratio Rank: 3131
Omega Ratio Rank
IEMD.L Calmar Ratio Rank: 3232
Calmar Ratio Rank
IEMD.L Martin Ratio Rank: 3838
Martin Ratio Rank
IVV
IVV Risk / Return Rank: 7070
Overall Rank
IVV Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
IVV Sortino Ratio Rank: 7070
Sortino Ratio Rank
IVV Omega Ratio Rank: 7070
Omega Ratio Rank
IVV Calmar Ratio Rank: 6262
Calmar Ratio Rank
IVV Martin Ratio Rank: 7575
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.

IEMD.L vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) (IEMD.L) and iShares Core S&P 500 ETF (IVV). 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.

IEMD.LIVVDifference
Sharpe ratioReturn per unit of total volatility
1.09
2.09

-1.00

Sortino ratioReturn per unit of downside risk
1.66
2.72

-1.05

Omega ratioGain probability vs. loss probability

1.21

1.39

-0.18

Calmar ratioReturn relative to maximum drawdown

1.57

3.47

-1.90

Martin ratioReturn relative to average drawdown

5.79

13.17

-7.37

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

IEMD.L vs. IVV - Sharpe Ratio Comparison

The current IEMD.L Sharpe Ratio is 1.09, which is lower than the IVV Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of IEMD.L and IVV, 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

IEMD.LIVVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.09

2.09

-1.00

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.71

0.90

-0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.83

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.71

0.62

+0.09

Drawdowns

IEMD.L vs. IVV - Drawdown Comparison

The maximum IEMD.L drawdown since its inception was -30.77%, smaller than the maximum IVV drawdown of -49.91%. Use the drawdown chart below to compare losses from any high point for IEMD.L and IVV.

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Drawdown Indicators

IEMD.LIVVDifference

Max Drawdown

Largest peak-to-trough decline

-30.77%

-49.91%

+19.14%

Max Drawdown (1Y)

Largest decline over 1 year

-11.53%

-7.36%

-4.17%

Max Drawdown (3Y)

Largest decline over 3 years

-15.64%

-23.85%

+8.21%

Max Drawdown (5Y)

Largest decline over 5 years

-23.73%

-23.85%

+0.12%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.40%

—

Current Drawdown

Current decline from peak

-0.70%

-0.55%

-0.15%

Average Drawdown

Average peak-to-trough decline

-5.91%

-7.85%

+1.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

1.94%

+1.19%

Volatility

IEMD.L vs. IVV - Volatility Comparison

iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) (IEMD.L) has a higher volatility of 4.74% compared to iShares Core S&P 500 ETF (IVV) at 2.34%. This indicates that IEMD.L's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEMD.LIVVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.74%

2.34%

+2.40%

Volatility (6M)

Calculated over the trailing 6-month period

14.16%

8.56%

+5.60%

Volatility (1Y)

Calculated over the trailing 1-year period

16.55%

12.26%

+4.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.11%

16.77%

-0.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.82%

18.58%

-1.76%

IEMD.L vs. IVV - Expense Ratio Comparison

IEMD.L has a 0.25% expense ratio, which is higher than IVV's 0.03% 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

IEMD.L vs. IVV - Dividend Comparison

IEMD.L's dividend yield for the trailing twelve months is around 1.70%, more than IVV's 1.06% yield.

PositionTTM20252024202320222021202020192018201720162015
IEMD.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)		1.70%1.85%2.70%2.78%2.90%1.77%1.36%2.00%2.51%0.00%0.00%0.00%
IVV
iShares Core S&P 500 ETF		1.06%1.17%1.30%1.44%1.66%1.20%1.57%1.85%2.21%1.75%2.01%2.27%

Frequently Asked Questions

IEMD.L and IVV have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IVV is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IVV is cheaper with a 0.03% expense ratio, compared with 0.25% for IEMD.L.

IEMD.L is categorized as Momentum, while IVV is S&P 500. IEMD.L tracks MSCI Europe Momentum Index, while IVV tracks S&P 500 Index. Their fees differ too: 0.25% for IEMD.L and 0.03% for IVV.

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