IMID.L vs. IQSA.L

Last updated Jun 4, 2026

IMID.L (SPDR MSCI ACWI IMI) and IQSA.L (Invesco Global Active ESG Equity UCITS ETF USD Acc) are both Global Equities funds. IMID.L is passively managed, while IQSA.L is actively managed. Over the past 5 years, IMID.L returned 10.97%/yr vs 14.40%/yr for IQSA.L. Their correlation of 0.93 suggests significant overlap in exposure. IMID.L charges 0.40%/yr vs 0.30%/yr for IQSA.L.

Performance

IMID.L vs. IQSA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI ACWI IMI (IMID.L) and Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMID.L achieves a 12.31% return, which is significantly lower than IQSA.L's 14.07% return.

IMID.L

• 1D: -0.68%
• 1M: 4.49%
• YTD: 12.31%
• 6M: 13.92%
• 1Y: 30.66%
• 3Y*: 20.84%
• 5Y*: 10.97%
• 10Y*: —

IQSA.L

• 1D: -0.53%
• 1M: 5.19%
• YTD: 14.07%
• 6M: 17.08%
• 1Y: 31.38%
• 3Y*: 25.42%
• 5Y*: 14.40%
• 10Y*: —

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

IMID.L vs. IQSA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IMID.L SPDR MSCI ACWI IMI	12.31%	22.16%	16.31%	21.65%	-17.64%	17.85%	16.14%	12.93%
IQSA.L Invesco Global Active ESG Equity UCITS ETF USD Acc	14.07%	22.67%	22.82%	24.38%	-14.01%	24.96%	10.21%	12.52%

Correlation

The correlation between IMID.L and IQSA.L is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 6, 2019	0.93

The correlation between IMID.L and IQSA.L has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

IMID.L vs. IQSA.L - Sectors Allocation Comparison

Sectors	IMID.L	IQSA.L
Industrials	19.5%	13.3%
Financial Services	13.0%	21.2%
Consumer Cyclical	9.7%	7.9%
Consumer Defensive	9.7%	1.8%
Healthcare	9.6%	7.3%
Technology	9.6%	33.0%
Basic Materials	8.2%	3.7%
Real Estate	8.0%	0.3%
Utilities	3.3%	0.3%
Communication Services	3.1%	11.3%
Energy	1.6%	-

Return for Risk

IMID.L vs. IQSA.L — Risk / Return Rank

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

IMID.L

IMID.L Risk / Return Rank: 74
IMID.L Sharpe Ratio Rank: 73
IMID.L Sortino Ratio Rank: 78
IMID.L Omega Ratio Rank: 73
IMID.L Calmar Ratio Rank: 69
IMID.L Martin Ratio Rank: 75

IQSA.L

IQSA.L Risk / Return Rank: 75
IQSA.L Sharpe Ratio Rank: 73
IQSA.L Sortino Ratio Rank: 79
IQSA.L Omega Ratio Rank: 71
IQSA.L Calmar Ratio Rank: 72
IQSA.L Martin Ratio Rank: 79

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.

IMID.L vs. IQSA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI IMI (IMID.L) and Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.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.

	IMID.L	IQSA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.41	2.39	+0.02
Sortino ratio: Return per unit of downside risk	3.58	3.59	-0.01
Omega ratio: Gain probability vs. loss probability	1.45	1.43	+0.01
Calmar ratio: Return relative to maximum drawdown	3.50	3.61	-0.11
Martin ratio: Return relative to average drawdown	14.47	15.60	-1.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMID.L vs. IQSA.L - Sharpe Ratio Comparison

The current IMID.L Sharpe Ratio is 2.41, which is comparable to the IQSA.L Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of IMID.L and IQSA.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.

Sharpe Ratios by Period

	IMID.L	IQSA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	2.39	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.87	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.92	-0.36

Drawdowns

IMID.L vs. IQSA.L - Drawdown Comparison

The maximum IMID.L drawdown since its inception was -39.56%, which is greater than IQSA.L's maximum drawdown of -34.64%. Use the drawdown chart below to compare losses from any high point for IMID.L and IQSA.L.

Drawdown Indicators

	IMID.L	IQSA.L	Difference
Max Drawdown Largest peak-to-trough decline	-39.56%	-34.64%	-4.92%
Max Drawdown (1Y) Largest decline over 1 year	-8.69%	-8.65%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-17.21%	-17.00%	-0.21%
Max Drawdown (5Y) Largest decline over 5 years	-26.07%	-25.67%	-0.40%
Current Drawdown Current decline from peak	-0.68%	-0.53%	-0.15%
Average Drawdown Average peak-to-trough decline	-5.40%	-4.91%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	2.01%	+0.10%

Volatility

IMID.L vs. IQSA.L - Volatility Comparison

SPDR MSCI ACWI IMI (IMID.L) and Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.L) have volatilities of 4.04% and 4.01%, 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.

Volatility by Period

	IMID.L	IQSA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	4.01%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	9.94%	10.27%	-0.33%
Volatility (1Y) Calculated over the trailing 1-year period	12.62%	13.09%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.54%	16.54%	-1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.23%	18.15%	+3.08%

IMID.L vs. IQSA.L - Expense Ratio Comparison

IMID.L has a 0.40% expense ratio, which is higher than IQSA.L's 0.30% expense ratio.

Dividends

IMID.L vs. IQSA.L - Dividend Comparison

Neither IMID.L nor IQSA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IMID.L and IQSA.L in my portfolio?

With a correlation of 0.93, IMID.L and IQSA.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, IMID.L or IQSA.L?

On fees, IQSA.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMID.L or IQSA.L?

IQSA.L is cheaper with a 0.30% expense ratio, compared with 0.40% for IMID.L.

What is the main difference between IMID.L and IQSA.L?

They also come from different issuers: State Street and Invesco. Their fees differ too: 0.40% for IMID.L and 0.30% for IQSA.L.