IMV.L vs. IWVL.L

Last updated Jun 9, 2026

IMV.L (iShares Edge MSCI Europe Min Volatility UCITS) and IWVL.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)) are both exchange-traded funds - IMV.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while IWVL.L is a Global Equities fund tracking the MSCI World Enhanced Value Index. Both are passively managed. Over the past 10 years, IMV.L returned 7.90%/yr vs 13.57%/yr for IWVL.L. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.

Performance

IMV.L vs. IWVL.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 World Value Factor UCITS ETF USD (Acc) (IWVL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IMV.L is traded in GBp, while IWVL.L is traded in USD. To make them comparable, the IWVL.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IMV.L achieves a 4.89% return, which is significantly lower than IWVL.L's 32.46% return. Over the past 10 years, IMV.L has underperformed IWVL.L with an annualized return of 7.90%, while IWVL.L has yielded a comparatively higher 13.57% annualized return.

IMV.L

• 1D: 0.02%
• 1M: 1.95%
• YTD: 4.89%
• 6M: 6.62%
• 1Y: 8.27%
• 3Y*: 11.14%
• 5Y*: 7.27%
• 10Y*: 7.90%

IWVL.L

• 1D: -0.09%
• 1M: 8.35%
• YTD: 32.46%
• 6M: 34.84%
• 1Y: 63.86%
• 3Y*: 26.06%
• 5Y*: 17.11%
• 10Y*: 13.57%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMV.L iShares Edge MSCI Europe Min Volatility UCITS	4.89%	17.66%	6.63%	8.56%	-7.83%	13.68%	1.50%	16.37%	-2.91%	13.29%
IWVL.L iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)	32.46%	30.42%	6.96%	13.56%	0.94%	21.25%	-6.50%	13.64%	-8.94%	12.00%

Correlation

The correlation between IMV.L and IWVL.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Oct 7, 2014	0.65

Over the past year, the correlation between IMV.L and IWVL.L has dropped to 0.39 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

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

Sectors	IMV.L	IWVL.L
Financial Services	17.3%	14.8%
Industrials	15.4%	11.3%
Consumer Defensive	13.9%	4.5%
Healthcare	12.4%	8.8%
Utilities	9.8%	2.5%
Communication Services	9.4%	7.6%
Energy	7.4%	3.8%
Basic Materials	5.1%	3.0%
Technology	3.5%	33.9%
Consumer Cyclical	3.4%	7.9%
Real Estate	1.5%	1.8%

Return for Risk

IMV.L vs. IWVL.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: 26
IMV.L Sharpe Ratio Rank: 28
IMV.L Sortino Ratio Rank: 26
IMV.L Omega Ratio Rank: 28
IMV.L Calmar Ratio Rank: 23
IMV.L Martin Ratio Rank: 24

IWVL.L

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

IMV.L vs. IWVL.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 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.

	IMV.L	IWVL.L	Difference
Sharpe ratio: Return per unit of total volatility	0.90	4.27	-3.36
Sortino ratio: Return per unit of downside risk	1.27	5.73	-4.46
Omega ratio: Gain probability vs. loss probability	1.17	1.79	-0.62
Calmar ratio: Return relative to maximum drawdown	0.97	8.13	-7.16
Martin ratio: Return relative to average drawdown	2.88	33.78	-30.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current IMV.L Sharpe Ratio is 0.90, which is lower than the IWVL.L Sharpe Ratio of 4.27. The chart below compares the historical Sharpe Ratios of IMV.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

	IMV.L	IWVL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	4.27	-3.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	1.19	-0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.84	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.74	-0.21

Drawdowns

IMV.L vs. IWVL.L - Drawdown Comparison

The maximum IMV.L drawdown since its inception was -24.48%, smaller than the maximum IWVL.L drawdown of -28.56%. Use the drawdown chart below to compare losses from any high point for IMV.L and IWVL.L.

Drawdown Indicators

	IMV.L	IWVL.L	Difference
Max Drawdown Largest peak-to-trough decline	-24.48%	-28.56%	+4.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	-7.82%	-0.68%
Max Drawdown (3Y) Largest decline over 3 years	-8.50%	-14.14%	+5.64%
Max Drawdown (5Y) Largest decline over 5 years	-17.42%	-14.14%	-3.28%
Max Drawdown (10Y) Largest decline over 10 years	-24.48%	-28.56%	+4.08%
Current Drawdown Current decline from peak	-4.46%	-2.40%	-2.06%
Average Drawdown Average peak-to-trough decline	-4.02%	-4.52%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	1.88%	+0.98%

Volatility

IMV.L vs. IWVL.L - Volatility Comparison

The current volatility for iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) is 2.05%, while iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L) has a volatility of 6.46%. This indicates that IMV.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

	IMV.L	IWVL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.05%	6.46%	-4.41%
Volatility (6M) Calculated over the trailing 6-month period	7.67%	12.72%	-5.05%
Volatility (1Y) Calculated over the trailing 1-year period	9.13%	14.92%	-5.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.97%	14.34%	-3.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.31%	16.05%	-3.74%

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

Both IMV.L and IWVL.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IMV.L vs. IWVL.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

IMV.L and IWVL.L have a correlation of 0.39, 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 IWVL.L?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

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

IMV.L and IWVL.L have the same expense ratio: 0.25% per year.

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

IMV.L is categorized as Europe Equities, while IWVL.L is Global Equities. IMV.L tracks MSCI Europe NR EUR, while IWVL.L tracks MSCI World Enhanced Value Index.