IMV.L vs. IUMF.L

Last updated Jul 16, 2026

IMV.L (iShares Edge MSCI Europe Min Volatility UCITS) and IUMF.L (iShares Edge MSCI USA Momentum Factor UCITS ETF) are both exchange-traded funds - IMV.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while IUMF.L is a Momentum fund tracking the MSCI USA Momentum Index. Both are passively managed. Over the past 5 years, IMV.L returned 6.80%/yr vs 13.86%/yr for IUMF.L. At a 0.48 correlation, their price movements are largely independent. IMV.L charges 0.25%/yr vs 0.20%/yr for IUMF.L.

Performance

IMV.L vs. IUMF.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) and iShares Edge MSCI USA Momentum Factor UCITS ETF (IUMF.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMV.L achieves a 5.29% return, which is significantly lower than IUMF.L's 24.88% return.

IMV.L

• 1D: -0.85%
• 1M: -0.51%
• 6M: 4.21%
• YTD: 5.29%
• 1Y: 8.92%
• 3Y*: 11.46%
• 5Y*: 6.80%
• 10Y*: 7.02%

IUMF.L

• 1D: -3.96%
• 1M: -6.93%
• 6M: 23.24%
• YTD: 24.88%
• 1Y: 32.14%
• 3Y*: 26.99%
• 5Y*: 13.86%
• 10Y*: —

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

IMV.L vs. IUMF.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMV.L iShares Edge MSCI Europe Min Volatility UCITS	5.29%	17.66%	6.63%	8.56%	-7.83%	13.68%	1.50%	16.37%	-2.91%	13.29%
IUMF.L iShares Edge MSCI USA Momentum Factor UCITS ETF	24.88%	9.14%	34.88%	3.74%	-8.43%	14.11%	25.03%	23.31%	2.36%	2.58%

Correlation

The correlation between IMV.L and IUMF.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Oct 13, 2016	0.48

Over the past year, the correlation between IMV.L and IUMF.L has dropped to 0.18 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

IMV.L vs. IUMF.L - Sectors Allocation Comparison

Sectors	IMV.L	IUMF.L
Financial Services	17.8%	6.4%
Industrials	16.2%	16.5%
Consumer Defensive	14.6%	3.3%
Healthcare	12.9%	4.8%
Utilities	10.1%	1.1%
Communication Services	8.2%	5.2%
Energy	6.7%	7.0%
Basic Materials	5.2%	2.1%
Technology	3.4%	50.0%
Consumer Cyclical	3.3%	2.6%
Real Estate	1.6%	1.0%

Return for Risk

IMV.L vs. IUMF.L — Risk / Return Rank

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

IMV.L

IMV.L Risk / Return Rank: 28
IMV.L Sharpe Ratio Rank: 31
IMV.L Sortino Ratio Rank: 29
IMV.L Omega Ratio Rank: 31
IMV.L Calmar Ratio Rank: 26
IMV.L Martin Ratio Rank: 26

IUMF.L

IUMF.L Risk / Return Rank: 58
IUMF.L Sharpe Ratio Rank: 52
IUMF.L Sortino Ratio Rank: 50
IUMF.L Omega Ratio Rank: 51
IUMF.L Calmar Ratio Rank: 72
IUMF.L Martin Ratio Rank: 65

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.

IMV.L vs. IUMF.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) and iShares Edge MSCI USA Momentum Factor UCITS ETF (IUMF.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.

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.

	IMV.L	IUMF.L	Difference
Sharpe ratio: Return per unit of total volatility	0.95	1.45	-0.50
Sortino ratio: Return per unit of downside risk	1.34	2.03	-0.69
Omega ratio: Gain probability vs. loss probability	1.18	1.27	-0.09
Calmar ratio: Return relative to maximum drawdown	1.04	2.92	-1.87
Martin ratio: Return relative to average drawdown	2.89	9.34	-6.45

IMV.L vs. IUMF.L - Sharpe Ratio Comparison

The current IMV.L Sharpe Ratio is 0.95, which is lower than the IUMF.L Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of IMV.L and IUMF.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.

Drawdowns

IMV.L vs. IUMF.L - Drawdown Comparison

The maximum IMV.L drawdown since its inception was -24.48%, roughly equal to the maximum IUMF.L drawdown of -25.23%. Use the drawdown chart below to compare losses from any high point for IMV.L and IUMF.L.

Drawdown Indicators

	IMV.L	IUMF.L	Difference
Max Drawdown Largest peak-to-trough decline	-24.48%	-25.23%	+0.75%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	-10.96%	+2.46%
Max Drawdown (3Y) Largest decline over 3 years	-8.50%	-22.56%	+14.06%
Max Drawdown (5Y) Largest decline over 5 years	-17.42%	-24.37%	+6.95%
Max Drawdown (10Y) Largest decline over 10 years	-24.48%	—	—
Current Drawdown Current decline from peak	-4.10%	-10.96%	+6.86%
Average Drawdown Average peak-to-trough decline	-4.01%	-8.54%	+4.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	3.43%	-0.35%

Volatility

IMV.L vs. IUMF.L - Volatility Comparison

The current volatility for iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) is 2.83%, while iShares Edge MSCI USA Momentum Factor UCITS ETF (IUMF.L) has a volatility of 11.64%. This indicates that IMV.L experiences smaller price fluctuations and is considered to be less risky than IUMF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMV.L	IUMF.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	11.64%	-8.81%
Volatility (6M) Calculated over the trailing 6-month period	7.95%	19.33%	-11.38%
Volatility (1Y) Calculated over the trailing 1-year period	9.35%	22.02%	-12.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.99%	23.69%	-12.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.22%	39.80%	-27.58%

IMV.L vs. IUMF.L - Expense Ratio Comparison

IMV.L has a 0.25% expense ratio, which is higher than IUMF.L's 0.20% 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

IMV.L vs. IUMF.L - Dividend Comparison

Neither IMV.L nor IUMF.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IMV.L and IUMF.L in my portfolio?

IMV.L and IUMF.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IMV.L or IUMF.L?

On fees, IUMF.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMV.L or IUMF.L?

IUMF.L is cheaper with a 0.20% expense ratio, compared with 0.25% for IMV.L.

What is the main difference between IMV.L and IUMF.L?

IMV.L is categorized as Europe Equities, while IUMF.L is Momentum. IMV.L tracks MSCI Europe NR EUR, while IUMF.L tracks MSCI USA Momentum Index. Their fees differ too: 0.25% for IMV.L and 0.20% for IUMF.L.