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IUMF.L vs. IEMD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUMF.L vs. IEMD.L

Last updated Jun 5, 2026

IUMF.L (iShares Edge MSCI USA Momentum Factor UCITS ETF) and IEMD.L (iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)) are both Momentum funds from iShares - IUMF.L tracks the MSCI USA Momentum Index while IEMD.L tracks the MSCI Europe Momentum Index. Both are passively managed. Over the past 5 years, IUMF.L returned 15.33%/yr vs 11.50%/yr for IEMD.L. A 0.66 correlation means they provide meaningful diversification when combined. IUMF.L charges 0.20%/yr vs 0.25%/yr for IEMD.L.

Performance

IUMF.L vs. IEMD.L - Performance Comparison

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

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Different Trading Currencies

IUMF.L is traded in GBp, while IEMD.L is traded in EUR. To make them comparable, the IEMD.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IUMF.L achieves a 29.89% return, which is significantly higher than IEMD.L's 7.25% return.

IUMF.L

1D
-1.75%
1M
13.21%
YTD
29.89%
6M
29.09%
1Y
40.90%
3Y*
28.84%
5Y*
15.33%
10Y*
—

IEMD.L

1D
-0.18%
1M
2.84%
YTD
7.25%
6M
10.29%
1Y
20.66%
3Y*
20.35%
5Y*
11.50%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
IUMF.L
iShares Edge MSCI USA Momentum Factor UCITS ETF		29.89%9.14%34.88%3.73%-8.43%14.11%25.03%23.31%-2.21%
IEMD.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)		7.25%33.10%15.00%10.29%-10.08%14.69%17.26%22.27%-8.17%

Correlation

The correlation between IUMF.L and IEMD.L is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.61

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

0.56

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

0.60

Correlation (All Time)
Calculated using the full available price history since Mar 1, 2018

0.66

The correlation between IUMF.L and IEMD.L shifts across timeframes, from 0.56 (3 years) to 0.66 (all time), reflecting how their relationship changes across market environments.

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

Sectors
IUMF.L
IEMD.L

Technology

42.9%
7.9%

Industrials

19.2%
15.2%

Healthcare

9.6%
15.6%

Financial Services

7.3%
23.7%

Communication Services

6.7%
2.9%

Consumer Cyclical

5.1%
0.5%

Energy

2.5%
11.0%

Consumer Defensive

2.2%
2.8%

Basic Materials

1.9%
7.6%

Utilities

1.5%
12.6%

Real Estate

1.1%
0.4%

Technology

IUMF.L
42.9%
IEMD.L
7.9%

Industrials

IUMF.L
19.2%
IEMD.L
15.2%

Healthcare

IUMF.L
9.6%
IEMD.L
15.6%

Financial Services

IUMF.L
7.3%
IEMD.L
23.7%

Communication Services

IUMF.L
6.7%
IEMD.L
2.9%

Consumer Cyclical

IUMF.L
5.1%
IEMD.L
0.5%

Energy

IUMF.L
2.5%
IEMD.L
11.0%

Consumer Defensive

IUMF.L
2.2%
IEMD.L
2.8%

Basic Materials

IUMF.L
1.9%
IEMD.L
7.6%

Utilities

IUMF.L
1.5%
IEMD.L
12.6%

Real Estate

IUMF.L
1.1%
IEMD.L
0.4%

Compare stocks, funds, or ETFs

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iShares Edge MSCI USA Momentum Factor UCITS ETF

iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)

Often compared with IUMF.L:
IUMF.L vs. IWFM.LIUMF.L vs. XDEM.LIUMF.L vs. JPLG.LIUMF.L vs. FSUS.LIUMF.L vs. IUMD.LIUMF.L vs. JMOMIUMF.L vs. QQQ
Often compared with IEMD.L:
IEMD.L vs. CEMR.DEIEMD.L vs. EIMI.LIEMD.L vs. ZPDX.DEIEMD.L vs. URTHIEMD.L vs. IVVIEMD.L vs. VOOIEMD.L vs. IWMO.L

Return for Risk

IUMF.L vs. IEMD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUMF.L
IUMF.L Risk / Return Rank: 7474
Overall Rank
IUMF.L Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
IUMF.L Sortino Ratio Rank: 7272
Sortino Ratio Rank
IUMF.L Omega Ratio Rank: 6969
Omega Ratio Rank
IUMF.L Calmar Ratio Rank: 8383
Calmar Ratio Rank
IUMF.L Martin Ratio Rank: 7575
Martin Ratio Rank
IEMD.L
IEMD.L Risk / Return Rank: 3131
Overall Rank
IEMD.L Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
IEMD.L Sortino Ratio Rank: 3030
Sortino Ratio Rank
IEMD.L Omega Ratio Rank: 3030
Omega Ratio Rank
IEMD.L Calmar Ratio Rank: 3131
Calmar Ratio Rank
IEMD.L Martin Ratio Rank: 3737
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.

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

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

IUMF.LIEMD.LDifference
Sharpe ratioReturn per unit of total volatility
2.26
1.27

+0.99

Sortino ratioReturn per unit of downside risk
3.19
1.87

+1.32

Omega ratioGain probability vs. loss probability

1.40

1.23

+0.17

Calmar ratioReturn relative to maximum drawdown

4.37

1.68

+2.69

Martin ratioReturn relative to average drawdown

14.10

6.15

+7.96

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current IUMF.L Sharpe Ratio is 2.26, which is higher than the IEMD.L Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of IUMF.L and IEMD.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

IUMF.LIEMD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.26

1.27

+0.99

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.84

0.72

+0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.85

0.68

+0.16

Drawdowns

IUMF.L vs. IEMD.L - Drawdown Comparison

The maximum IUMF.L drawdown since its inception was -25.23%, which is greater than IEMD.L's maximum drawdown of -23.72%. Use the drawdown chart below to compare losses from any high point for IUMF.L and IEMD.L.

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Drawdown Indicators

IUMF.LIEMD.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.23%

-23.72%

-1.51%

Max Drawdown (1Y)

Largest decline over 1 year

-9.32%

-12.24%

+2.92%

Max Drawdown (3Y)

Largest decline over 3 years

-22.56%

-13.10%

-9.46%

Max Drawdown (5Y)

Largest decline over 5 years

-24.37%

-21.21%

-3.16%

Current Drawdown

Current decline from peak

-1.75%

-1.78%

+0.03%

Average Drawdown

Average peak-to-trough decline

-6.44%

-5.47%

-0.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.89%

3.35%

-0.46%

Volatility

IUMF.L vs. IEMD.L - Volatility Comparison

iShares Edge MSCI USA Momentum Factor UCITS ETF (IUMF.L) has a higher volatility of 7.86% compared to iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) (IEMD.L) at 4.62%. This indicates that IUMF.L's price experiences larger fluctuations and is considered to be riskier than IEMD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IUMF.LIEMD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.86%

4.62%

+3.24%

Volatility (6M)

Calculated over the trailing 6-month period

15.09%

13.95%

+1.14%

Volatility (1Y)

Calculated over the trailing 1-year period

17.99%

16.21%

+1.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.29%

15.87%

+2.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.66%

16.81%

+1.85%

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

IUMF.L has a 0.20% expense ratio, which is lower than IEMD.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IUMF.L vs. IEMD.L - Dividend Comparison

IUMF.L has not paid dividends to shareholders, while IEMD.L's dividend yield for the trailing twelve months is around 1.71%.

PositionTTM20252024202320222021202020192018
IEMD.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)		1.71%1.85%2.70%2.78%2.90%1.77%1.36%2.00%2.51%
IUMF.L
iShares Edge MSCI USA Momentum Factor UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IUMF.L and IEMD.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

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

IUMF.L tracks MSCI USA Momentum Index, while IEMD.L tracks MSCI Europe Momentum Index. Their fees differ too: 0.20% for IUMF.L and 0.25% for IEMD.L.

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