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

IUMF.L vs. PQVG.L

Last updated Jun 4, 2026

IUMF.L (iShares Edge MSCI USA Momentum Factor UCITS ETF) and PQVG.L (Invesco S&P 500 QVM UCITS ETF) are both exchange-traded funds - IUMF.L is a Momentum fund tracking the MSCI USA Momentum Index, 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, IUMF.L returned 15.74%/yr vs 16.59%/yr for PQVG.L. Their correlation of 0.81 suggests significant overlap in exposure. IUMF.L charges 0.20%/yr vs 0.35%/yr for PQVG.L.

Performance

IUMF.L vs. PQVG.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 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, IUMF.L achieves a 32.21% return, which is significantly higher than PQVG.L's 16.37% return.

IUMF.L

1D
1.91%
1M
18.47%
YTD
32.21%
6M
32.62%
1Y
43.66%
3Y*
29.81%
5Y*
15.74%
10Y*
—

PQVG.L

1D
0.66%
1M
5.52%
YTD
16.37%
6M
16.32%
1Y
23.87%
3Y*
21.43%
5Y*
16.59%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
IUMF.L
iShares Edge MSCI USA Momentum Factor UCITS ETF		32.21%9.14%34.88%3.73%-8.43%14.11%25.03%23.31%2.39%15.60%
PQVG.L
Invesco S&P 500 QVM UCITS ETF		16.37%5.84%32.29%0.98%12.54%27.78%4.44%21.16%-1.98%14.30%

Correlation

The correlation between IUMF.L and PQVG.L is 0.55, 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

0.55

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

0.72

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

0.77

Correlation (All Time)
Calculated using the full available price history since May 24, 2017

0.81

Over the past year, the correlation between IUMF.L and PQVG.L has dropped to 0.55 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

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

Sectors
IUMF.L
PQVG.L

Technology

42.9%
24.3%

Industrials

19.2%
15.6%

Healthcare

9.6%
9.5%

Financial Services

7.3%
21.8%

Communication Services

6.7%
10.4%

Consumer Cyclical

5.1%
4.3%

Energy

2.5%
5.6%

Consumer Defensive

2.2%
5.6%

Basic Materials

1.9%
2.2%

Utilities

1.5%
0.8%

Real Estate

1.1%

-

Technology

IUMF.L
42.9%
PQVG.L
24.3%

Industrials

IUMF.L
19.2%
PQVG.L
15.6%

Healthcare

IUMF.L
9.6%
PQVG.L
9.5%

Financial Services

IUMF.L
7.3%
PQVG.L
21.8%

Communication Services

IUMF.L
6.7%
PQVG.L
10.4%

Consumer Cyclical

IUMF.L
5.1%
PQVG.L
4.3%

Energy

IUMF.L
2.5%
PQVG.L
5.6%

Consumer Defensive

IUMF.L
2.2%
PQVG.L
5.6%

Basic Materials

IUMF.L
1.9%
PQVG.L
2.2%

Utilities

IUMF.L
1.5%
PQVG.L
0.8%

Real Estate

IUMF.L
1.1%
PQVG.L

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Edge MSCI USA Momentum Factor UCITS ETF

Invesco S&P 500 QVM UCITS ETF

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 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

IUMF.L vs. PQVG.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: 7777
Overall Rank
IUMF.L Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
IUMF.L Sortino Ratio Rank: 7575
Sortino Ratio Rank
IUMF.L Omega Ratio Rank: 7272
Omega Ratio Rank
IUMF.L Calmar Ratio Rank: 8585
Calmar Ratio Rank
IUMF.L Martin Ratio Rank: 7878
Martin Ratio Rank
PQVG.L
PQVG.L Risk / Return Rank: 7676
Overall Rank
PQVG.L Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
PQVG.L Sortino Ratio Rank: 7272
Sortino Ratio Rank
PQVG.L Omega Ratio Rank: 6767
Omega Ratio Rank
PQVG.L Calmar Ratio Rank: 9191
Calmar Ratio Rank
PQVG.L Martin Ratio Rank: 8484
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. PQVG.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 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.

IUMF.LPQVG.LDifference
Sharpe ratioReturn per unit of total volatility
2.43
2.29

+0.14

Sortino ratioReturn per unit of downside risk
3.40
3.27

+0.14

Omega ratioGain probability vs. loss probability

1.43

1.40

+0.03

Calmar ratioReturn relative to maximum drawdown

4.66

5.78

-1.12

Martin ratioReturn relative to average drawdown

15.06

17.38

-2.32

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. PQVG.L - Sharpe Ratio Comparison

The current IUMF.L Sharpe Ratio is 2.43, which is comparable to the PQVG.L Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of IUMF.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

IUMF.LPQVG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.43

2.29

+0.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.86

1.12

-0.25

Sharpe Ratio (All Time)

Calculated using the full available price history

0.86

0.89

-0.03

Drawdowns

IUMF.L vs. PQVG.L - Drawdown Comparison

The maximum IUMF.L drawdown since its inception was -25.23%, roughly equal to the maximum PQVG.L drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for IUMF.L and PQVG.L.

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Drawdown Indicators

IUMF.LPQVG.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.23%

-25.88%

+0.65%

Max Drawdown (1Y)

Largest decline over 1 year

-9.32%

-4.11%

-5.21%

Max Drawdown (3Y)

Largest decline over 3 years

-22.56%

-17.44%

-5.12%

Max Drawdown (5Y)

Largest decline over 5 years

-24.37%

-17.44%

-6.93%

Current Drawdown

Current decline from peak

0.00%

-0.24%

+0.24%

Average Drawdown

Average peak-to-trough decline

-6.44%

-4.17%

-2.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.89%

1.37%

+1.52%

Volatility

IUMF.L vs. PQVG.L - Volatility Comparison

iShares Edge MSCI USA Momentum Factor UCITS ETF (IUMF.L) has a higher volatility of 7.74% compared to Invesco S&P 500 QVM UCITS ETF (PQVG.L) at 2.80%. This indicates that IUMF.L's price experiences larger fluctuations and is considered to be riskier 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

IUMF.LPQVG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.74%

2.80%

+4.94%

Volatility (6M)

Calculated over the trailing 6-month period

14.98%

7.88%

+7.10%

Volatility (1Y)

Calculated over the trailing 1-year period

17.90%

10.40%

+7.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.27%

14.89%

+3.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.65%

16.25%

+2.40%

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

IUMF.L has a 0.20% expense ratio, which is lower than PQVG.L's 0.35% expense ratio.

Dividends

IUMF.L vs. PQVG.L - Dividend Comparison

IUMF.L has not paid dividends to shareholders, while PQVG.L's dividend yield for the trailing twelve months is around 0.78%.

PositionTTM202520242023202220212020201920182017
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%0.00%
PQVG.L
Invesco S&P 500 QVM UCITS ETF		0.78%0.82%0.82%1.61%1.77%0.87%1.59%1.41%1.30%0.72%

Frequently Asked Questions

IUMF.L and PQVG.L have a correlation of 0.55, 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 0.35% for PQVG.L.

IUMF.L is categorized as Momentum, while PQVG.L is S&P 500. IUMF.L tracks MSCI USA Momentum Index, 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: 0.20% for IUMF.L and 0.35% for PQVG.L.

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