IPOL.L vs. MKUW.L
IPOL.L (iShares MSCI Poland UCITS ETF USD (Acc)) and MKUW.L (Invesco MSCI Kuwait UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - IPOL.L tracks the MSCI Emerging - Poland in Net USD while MKUW.L tracks the MSCI Kuwait 20/35 Index. Both are passively managed. Over the past 5 years, IPOL.L returned 14.78%/yr vs 7.19%/yr for MKUW.L. At a 0.21 correlation, their price movements are largely independent. IPOL.L charges 0.74%/yr vs 0.50%/yr for MKUW.L.
Performance
IPOL.L vs. MKUW.L - Performance Comparison
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Returns By Period
In the year-to-date period, IPOL.L achieves a 14.81% return, which is significantly higher than MKUW.L's 0.15% return.
IPOL.L
- 1D
- -1.18%
- 1M
- -2.95%
- 6M
- 12.69%
- YTD
- 14.81%
- 1Y
- 30.84%
- 3Y*
- 28.08%
- 5Y*
- 14.78%
- 10Y*
- 9.64%
MKUW.L
- 1D
- -0.06%
- 1M
- -2.04%
- 6M
- 1.18%
- YTD
- 0.15%
- 1Y
- 3.43%
- 3Y*
- 7.89%
- 5Y*
- 7.19%
- 10Y*
- —
IPOL.L vs. MKUW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IPOL.L iShares MSCI Poland UCITS ETF USD (Acc) | 14.81% | 72.75% | -6.10% | 49.20% | -26.61% | 6.83% | -11.21% | -1.54% |
MKUW.L Invesco MSCI Kuwait UCITS ETF USD (Acc) | 0.15% | 25.35% | 9.15% | -8.87% | 5.99% | 28.57% | -9.88% | 10.35% |
Correlation
The correlation between IPOL.L and MKUW.L is 0.17, 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 | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2019 | 0.21 |
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Return for Risk
IPOL.L vs. MKUW.L — Risk / Return Rank
IPOL.L
MKUW.L
IPOL.L vs. MKUW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Poland UCITS ETF USD (Acc) (IPOL.L) and Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.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.
| IPOL.L | MKUW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.07 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 0.46 | +2.47 |
| Martin ratioReturn relative to average drawdown | 6.74 | 1.05 | +5.68 |
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Drawdowns
IPOL.L vs. MKUW.L - Drawdown Comparison
The maximum IPOL.L drawdown since its inception was -68.05%, which is greater than MKUW.L's maximum drawdown of -37.76%. Use the drawdown chart below to compare losses from any high point for IPOL.L and MKUW.L.
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Drawdown Indicators
| IPOL.L | MKUW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.05% | -37.76% | -30.29% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -7.47% | -3.01% |
Max Drawdown (3Y)Largest decline over 3 years | -22.43% | -14.16% | -8.27% |
Max Drawdown (5Y)Largest decline over 5 years | -55.92% | -25.13% | -30.79% |
Max Drawdown (10Y)Largest decline over 10 years | -65.79% | — | — |
Current DrawdownCurrent decline from peak | -2.95% | -3.60% | +0.65% |
Average DrawdownAverage peak-to-trough decline | -29.57% | -9.42% | -20.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.57% | 3.26% | +1.31% |
Volatility
IPOL.L vs. MKUW.L - Volatility Comparison
iShares MSCI Poland UCITS ETF USD (Acc) (IPOL.L) has a higher volatility of 5.32% compared to Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.L) at 1.71%. This indicates that IPOL.L's price experiences larger fluctuations and is considered to be riskier than MKUW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPOL.L | MKUW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 1.71% | +3.61% |
Volatility (6M)Calculated over the trailing 6-month period | 19.48% | 8.01% | +11.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.82% | 10.26% | +14.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.15% | 12.76% | +17.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.40% | 16.49% | +10.91% |
IPOL.L vs. MKUW.L - Expense Ratio Comparison
IPOL.L has a 0.74% expense ratio, which is higher than MKUW.L's 0.50% expense ratio.
Dividends
IPOL.L vs. MKUW.L - Dividend Comparison
Neither IPOL.L nor MKUW.L has paid dividends to shareholders.
Frequently Asked Questions
IPOL.L and MKUW.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MKUW.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MKUW.L is cheaper with a 0.50% expense ratio, compared with 0.74% for IPOL.L.
IPOL.L tracks MSCI Emerging - Poland in Net USD, while MKUW.L tracks MSCI Kuwait 20/35 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.74% for IPOL.L and 0.50% for MKUW.L.
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