IMFL vs. WRND

Last updated Jun 24, 2026

IMFL (Invesco International Developed Dynamic Multifactor ETF) and WRND (IQ Global Equity R&D Leaders ETF) are both Global Equities funds - IMFL tracks the FTSE Developed ex US Invesco Dynamic Multifactor Index while WRND tracks the IQ Global Equity R&D Leaders Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, IMFL returned 16.29%/yr vs 20.31%/yr for WRND. A 0.78 correlation means they provide meaningful diversification when combined. IMFL charges 0.34%/yr vs 0.18%/yr for WRND.

Performance

IMFL vs. WRND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco International Developed Dynamic Multifactor ETF (IMFL) and IQ Global Equity R&D Leaders ETF (WRND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMFL achieves a 14.49% return, which is significantly higher than WRND's 11.07% return.

IMFL

• 1D: -2.84%
• 1M: -0.86%
• YTD: 14.49%
• 6M: 14.56%
• 1Y: 29.53%
• 3Y*: 16.29%
• 5Y*: 8.35%
• 10Y*: —

WRND

• 1D: -2.64%
• 1M: -2.43%
• YTD: 11.07%
• 6M: 10.80%
• 1Y: 32.11%
• 3Y*: 20.31%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IMFL vs. WRND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IMFL Invesco International Developed Dynamic Multifactor ETF	14.49%	30.89%	-3.57%	25.51%	-10.88%
WRND IQ Global Equity R&D Leaders ETF	11.07%	27.72%	13.46%	34.85%	-19.17%

Correlation

The correlation between IMFL and WRND is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (All Time) Calculated using the full available price history since Feb 8, 2022	0.78

The correlation between IMFL and WRND has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.

IMFL vs. WRND - Sectors Allocation Comparison

Sectors	IMFL	WRND
Technology	17.6%	52.8%
Industrials	17.2%	12.9%
Healthcare	11.8%	11.3%
Consumer Defensive	11.3%	1.4%
Financial Services	10.9%	-
Consumer Cyclical	7.6%	8.3%
Basic Materials	5.3%	0.9%
Energy	5.3%	-
Utilities	3.7%	-
Communication Services	3.3%	12.4%
Real Estate	1.4%	-

Return for Risk

IMFL vs. WRND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IMFL

IMFL Risk / Return Rank: 55
IMFL Sharpe Ratio Rank: 57
IMFL Sortino Ratio Rank: 54
IMFL Omega Ratio Rank: 54
IMFL Calmar Ratio Rank: 55
IMFL Martin Ratio Rank: 54

WRND

WRND Risk / Return Rank: 57
WRND Sharpe Ratio Rank: 58
WRND Sortino Ratio Rank: 56
WRND Omega Ratio Rank: 53
WRND Calmar Ratio Rank: 57
WRND Martin Ratio Rank: 64

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.

IMFL vs. WRND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco International Developed Dynamic Multifactor ETF (IMFL) and IQ Global Equity R&D Leaders ETF (WRND). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IMFL	WRND	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.79	-0.02
Sortino ratio: Return per unit of downside risk	2.42	2.44	-0.02
Omega ratio: Gain probability vs. loss probability	1.32	1.31	+0.01
Calmar ratio: Return relative to maximum drawdown	2.52	2.59	-0.07
Martin ratio: Return relative to average drawdown	8.82	10.58	-1.76

IMFL vs. WRND - Sharpe Ratio Comparison

The current IMFL Sharpe Ratio is 1.77, which is comparable to the WRND Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of IMFL and WRND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IMFL vs. WRND - Drawdown Comparison

The maximum IMFL drawdown since its inception was -33.26%, which is greater than WRND's maximum drawdown of -27.16%. Use the drawdown chart below to compare losses from any high point for IMFL and WRND.

Drawdown Indicators

	IMFL	WRND	Difference
Max Drawdown Largest peak-to-trough decline	-33.26%	-27.16%	-6.10%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-12.43%	+0.66%
Max Drawdown (3Y) Largest decline over 3 years	-13.52%	-18.41%	+4.89%
Max Drawdown (5Y) Largest decline over 5 years	-33.26%	—	—
Current Drawdown Current decline from peak	-3.35%	-5.09%	+1.74%
Average Drawdown Average peak-to-trough decline	-7.19%	-5.94%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	3.04%	+0.32%

Volatility

IMFL vs. WRND - Volatility Comparison

The current volatility for Invesco International Developed Dynamic Multifactor ETF (IMFL) is 6.64%, while IQ Global Equity R&D Leaders ETF (WRND) has a volatility of 7.45%. This indicates that IMFL experiences smaller price fluctuations and is considered to be less risky than WRND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMFL	WRND	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	7.45%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	14.32%	14.89%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	16.75%	18.03%	-1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.24%	18.98%	-2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.13%	18.98%	-2.85%

IMFL vs. WRND - Expense Ratio Comparison

IMFL has a 0.34% expense ratio, which is higher than WRND's 0.18% expense ratio.

Dividends

IMFL vs. WRND - Dividend Comparison

IMFL's dividend yield for the trailing twelve months is around 2.96%, more than WRND's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021
IMFL Invesco International Developed Dynamic Multifactor ETF	2.96%	2.88%	3.56%	3.85%	3.35%	3.94%
WRND IQ Global Equity R&D Leaders ETF	1.03%	1.29%	1.15%	2.06%	2.06%	0.00%

Frequently Asked Questions

Can I hold both IMFL and WRND in my portfolio?

IMFL and WRND have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMFL or WRND?

WRND has higher volatility (7.45%) compared to IMFL (6.64%). In terms of maximum drawdown, IMFL dropped -33.26% vs WRND's -27.16%.

Which ETF is better, IMFL or WRND?

On 3-year performance, WRND leads with 20.31% vs 16.29% for IMFL. On fees, WRND is cheaper at 0.18% per year. On volatility, IMFL has been the lower-risk option at 6.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMFL or WRND?

Over the 3-year period, WRND has performed better with a 20.31% return vs 16.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMFL or WRND?

WRND is cheaper with a 0.18% expense ratio, compared with 0.34% for IMFL.

Which ETF pays a higher dividend yield, IMFL or WRND?

IMFL has the higher dividend yield at 2.96%, compared with 1.03% for WRND.

What is the main difference between IMFL and WRND?

IMFL tracks FTSE Developed ex US Invesco Dynamic Multifactor Index, while WRND tracks IQ Global Equity R&D Leaders Index - Benchmark TR Net. They also come from different issuers: Invesco and IndexIQ. Their fees differ too: 0.34% for IMFL and 0.18% for WRND.

Which has better risk-adjusted returns?

WRND currently has the higher Sharpe Ratio (1.79 vs 1.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.