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IMV.L vs. PQVG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IMV.L vs. PQVG.L

Last updated Jun 9, 2026

IMV.L (iShares Edge MSCI Europe Min Volatility UCITS) and PQVG.L (Invesco S&P 500 QVM UCITS ETF) are both exchange-traded funds - IMV.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while PQVG.L is a S&P 500 fund tracking the S&P 500 Quality, Value, and Momentum Multi-Factor Index (Net Total Return). Both are passively managed. Over the past 5 years, IMV.L returned 7.27%/yr vs 16.66%/yr for PQVG.L. A 0.56 correlation means they provide meaningful diversification when combined. IMV.L charges 0.25%/yr vs 0.35%/yr for PQVG.L.

Performance

IMV.L vs. PQVG.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 Invesco S&P 500 QVM UCITS ETF (PQVG.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IMV.L achieves a 4.89% return, which is significantly lower than PQVG.L's 17.20% 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%

PQVG.L

1D
0.27%
1M
5.14%
YTD
17.20%
6M
18.33%
1Y
24.15%
3Y*
21.35%
5Y*
16.66%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%1.73%
PQVG.L
Invesco S&P 500 QVM UCITS ETF		17.20%5.84%32.29%0.98%12.54%27.78%4.44%21.16%-1.98%-10.66%

Correlation

The correlation between IMV.L and PQVG.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.40

Correlation (3Y)
Calculated over the trailing 3-year period

0.35

Correlation (5Y)
Calculated over the trailing 5-year period

0.41

Correlation (All Time)
Calculated using the full available price history since May 18, 2017

0.56

The correlation between IMV.L and PQVG.L shifts across timeframes, from 0.35 (3 years) to 0.56 (all time), reflecting how their relationship changes across market environments.

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

Sectors
IMV.L
PQVG.L

Financial Services

17.3%
21.8%

Industrials

15.4%
15.6%

Consumer Defensive

13.9%
5.6%

Healthcare

12.4%
9.5%

Utilities

9.8%
0.8%

Communication Services

9.4%
10.4%

Energy

7.4%
5.6%

Basic Materials

5.1%
2.2%

Technology

3.5%
24.3%

Consumer Cyclical

3.4%
4.3%

Real Estate

1.5%

-

Financial Services

IMV.L
17.3%
PQVG.L
21.8%

Industrials

IMV.L
15.4%
PQVG.L
15.6%

Consumer Defensive

IMV.L
13.9%
PQVG.L
5.6%

Healthcare

IMV.L
12.4%
PQVG.L
9.5%

Utilities

IMV.L
9.8%
PQVG.L
0.8%

Communication Services

IMV.L
9.4%
PQVG.L
10.4%

Energy

IMV.L
7.4%
PQVG.L
5.6%

Basic Materials

IMV.L
5.1%
PQVG.L
2.2%

Technology

IMV.L
3.5%
PQVG.L
24.3%

Consumer Cyclical

IMV.L
3.4%
PQVG.L
4.3%

Real Estate

IMV.L
1.5%
PQVG.L

-

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iShares Edge MSCI Europe Min Volatility UCITS

Invesco S&P 500 QVM UCITS ETF

Often compared with IMV.L:
IMV.L vs. MIVO.LIMV.L vs. SPYIMV.L vs. MINV.LIMV.L vs. XDEQ.LIMV.L vs. MVUS.LIMV.L vs. UB06.LIMV.L vs. CSWG.L
Often compared with PQVG.L:
PQVG.L vs. IQSA.LPQVG.L vs. SPPY.DEPQVG.L vs. SPMOPQVG.L vs. TSGB.LPQVG.L vs. CSPX.LPQVG.L vs. SPXP.LPQVG.L vs. DYNF

Return for Risk

IMV.L vs. PQVG.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: 2626
Overall Rank
IMV.L Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
IMV.L Sortino Ratio Rank: 2626
Sortino Ratio Rank
IMV.L Omega Ratio Rank: 2828
Omega Ratio Rank
IMV.L Calmar Ratio Rank: 2323
Calmar Ratio Rank
IMV.L Martin Ratio Rank: 2424
Martin Ratio Rank
PQVG.L
PQVG.L Risk / Return Rank: 8484
Overall Rank
PQVG.L Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
PQVG.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
PQVG.L Omega Ratio Rank: 7878
Omega Ratio Rank
PQVG.L Calmar Ratio Rank: 9393
Calmar Ratio Rank
PQVG.L Martin Ratio Rank: 8989
Martin Ratio Rank
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. PQVG.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 Invesco S&P 500 QVM UCITS ETF (PQVG.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.LPQVG.LDifference
Sharpe ratioReturn per unit of total volatility
0.90
2.33

-1.42

Sortino ratioReturn per unit of downside risk
1.27
3.31

-2.04

Omega ratioGain probability vs. loss probability

1.17

1.41

-0.24

Calmar ratioReturn relative to maximum drawdown

0.97

5.85

-4.88

Martin ratioReturn relative to average drawdown

2.88

18.00

-15.11

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. PQVG.L - Sharpe Ratio Comparison

The current IMV.L Sharpe Ratio is 0.90, which is lower than the PQVG.L Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of IMV.L and PQVG.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.

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Sharpe Ratios by Period

IMV.LPQVG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.90

2.33

-1.42

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

1.12

-0.46

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

0.63

-0.10

Drawdowns

IMV.L vs. PQVG.L - Drawdown Comparison

The maximum IMV.L drawdown since its inception was -24.48%, smaller than the maximum PQVG.L drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for IMV.L and PQVG.L.

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Drawdown Indicators

IMV.LPQVG.LDifference

Max Drawdown

Largest peak-to-trough decline

-24.48%

-25.88%

+1.40%

Max Drawdown (1Y)

Largest decline over 1 year

-8.50%

-4.11%

-4.39%

Max Drawdown (3Y)

Largest decline over 3 years

-8.50%

-17.44%

+8.94%

Max Drawdown (5Y)

Largest decline over 5 years

-17.42%

-17.44%

+0.02%

Max Drawdown (10Y)

Largest decline over 10 years

-24.48%

—

—

Current Drawdown

Current decline from peak

-4.46%

0.00%

-4.46%

Average Drawdown

Average peak-to-trough decline

-4.02%

-5.82%

+1.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.86%

1.34%

+1.52%

Volatility

IMV.L vs. PQVG.L - Volatility Comparison

The current volatility for iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) is 2.05%, while Invesco S&P 500 QVM UCITS ETF (PQVG.L) has a volatility of 2.76%. This indicates that IMV.L experiences smaller price fluctuations and is considered to be less risky than PQVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IMV.LPQVG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.05%

2.76%

-0.71%

Volatility (6M)

Calculated over the trailing 6-month period

7.67%

7.80%

-0.13%

Volatility (1Y)

Calculated over the trailing 1-year period

9.13%

10.36%

-1.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.97%

14.88%

-3.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.31%

17.91%

-5.60%

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

IMV.L has a 0.25% expense ratio, which is lower than PQVG.L's 0.35% expense ratio.

Dividends

IMV.L vs. PQVG.L - Dividend Comparison

IMV.L has not paid dividends to shareholders, while PQVG.L's dividend yield for the trailing twelve months is around 0.77%.

PositionTTM202520242023202220212020201920182017
IMV.L
iShares Edge MSCI Europe Min Volatility UCITS		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PQVG.L
Invesco S&P 500 QVM UCITS ETF		0.77%0.83%0.82%1.61%1.77%0.88%1.59%1.41%1.30%0.72%

Frequently Asked Questions

IMV.L and PQVG.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

IMV.L is cheaper with a 0.25% expense ratio, compared with 0.35% for PQVG.L.

IMV.L is categorized as Europe Equities, while PQVG.L is S&P 500. IMV.L tracks MSCI Europe NR EUR, while PQVG.L tracks S&P 500 Quality, Value, and Momentum Multi-Factor Index (Net Total Return). They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for IMV.L and 0.35% for PQVG.L.

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