IMID.L vs. IWVL.L

Last updated Jun 4, 2026

IMID.L (SPDR MSCI ACWI IMI) and IWVL.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)) are both Global Equities funds - IMID.L tracks the MSCI ACWI NR USD while IWVL.L tracks the MSCI World Enhanced Value Index. Both are passively managed. Over the past 5 years, IMID.L returned 10.97%/yr vs 16.43%/yr for IWVL.L. Their correlation of 0.87 suggests significant overlap in exposure. IMID.L charges 0.40%/yr vs 0.25%/yr for IWVL.L.

Performance

IMID.L vs. IWVL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI ACWI IMI (IMID.L) and iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.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 IWVL.L's 35.18% 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*: —

IWVL.L

• 1D: -0.26%
• 1M: 14.91%
• YTD: 35.18%
• 6M: 39.74%
• 1Y: 67.93%
• 3Y*: 30.59%
• 5Y*: 16.43%
• 10Y*: 13.06%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IMID.L SPDR MSCI ACWI IMI	12.31%	22.16%	16.31%	21.65%	-17.64%	17.85%	16.14%	25.35%	-9.90%
IWVL.L iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)	35.18%	40.41%	5.13%	19.53%	-9.79%	20.11%	-3.67%	18.13%	-12.33%

Correlation

The correlation between IMID.L and IWVL.L is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since May 30, 2018	0.87

The correlation between IMID.L and IWVL.L has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

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

Sectors	IMID.L	IWVL.L
Industrials	19.5%	11.3%
Financial Services	13.0%	14.8%
Consumer Cyclical	9.7%	7.9%
Consumer Defensive	9.7%	4.5%
Healthcare	9.6%	8.8%
Technology	9.6%	33.9%
Basic Materials	8.2%	3.0%
Real Estate	8.0%	1.8%
Utilities	3.3%	2.5%
Communication Services	3.1%	7.6%
Energy	1.6%	3.8%

Return for Risk

IMID.L vs. IWVL.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

IWVL.L

IWVL.L Risk / Return Rank: 95
IWVL.L Sharpe Ratio Rank: 96
IWVL.L Sortino Ratio Rank: 97
IWVL.L Omega Ratio Rank: 96
IWVL.L Calmar Ratio Rank: 95
IWVL.L Martin Ratio Rank: 95

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. IWVL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI IMI (IMID.L) and iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.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	IWVL.L	Difference
Sharpe ratio: Return per unit of total volatility	2.41	4.35	-1.94
Sortino ratio: Return per unit of downside risk	3.58	5.98	-2.40
Omega ratio: Gain probability vs. loss probability	1.45	1.78	-0.34
Calmar ratio: Return relative to maximum drawdown	3.50	7.73	-4.24
Martin ratio: Return relative to average drawdown	14.47	29.28	-14.80
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. IWVL.L - Sharpe Ratio Comparison

The current IMID.L Sharpe Ratio is 2.41, which is lower than the IWVL.L Sharpe Ratio of 4.35. The chart below compares the historical Sharpe Ratios of IMID.L and IWVL.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	IWVL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	4.35	-1.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	1.02	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.63	-0.06

Drawdowns

IMID.L vs. IWVL.L - Drawdown Comparison

The maximum IMID.L drawdown since its inception was -39.56%, roughly equal to the maximum IWVL.L drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for IMID.L and IWVL.L.

Drawdown Indicators

	IMID.L	IWVL.L	Difference
Max Drawdown Largest peak-to-trough decline	-39.56%	-39.30%	-0.26%
Max Drawdown (1Y) Largest decline over 1 year	-8.69%	-8.74%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-17.21%	-14.46%	-2.75%
Max Drawdown (5Y) Largest decline over 5 years	-26.07%	-26.55%	+0.48%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.30%	—
Current Drawdown Current decline from peak	-0.68%	-0.26%	-0.42%
Average Drawdown Average peak-to-trough decline	-5.40%	-7.51%	+2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	2.31%	-0.20%

Volatility

IMID.L vs. IWVL.L - Volatility Comparison

The current volatility for SPDR MSCI ACWI IMI (IMID.L) is 4.04%, while iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L) has a volatility of 6.53%. This indicates that IMID.L experiences smaller price fluctuations and is considered to be less risky than IWVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMID.L	IWVL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	6.53%	-2.49%
Volatility (6M) Calculated over the trailing 6-month period	9.94%	12.92%	-2.98%
Volatility (1Y) Calculated over the trailing 1-year period	12.62%	15.55%	-2.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.54%	16.05%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.23%	17.02%	+4.21%

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

IMID.L has a 0.40% expense ratio, which is higher than IWVL.L's 0.25% expense ratio.

Dividends

IMID.L vs. IWVL.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

IMID.L and IWVL.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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

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

IWVL.L is cheaper with a 0.25% expense ratio, compared with 0.40% for IMID.L.

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

IMID.L tracks MSCI ACWI NR USD, while IWVL.L tracks MSCI World Enhanced Value Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for IMID.L and 0.25% for IWVL.L.