IUQA.L vs. USFM.L

Last updated Jun 5, 2026

IUQA.L (iShares Edge MSCI USA Quality Factor UCITS ETF USD Accumulating) and USFM.L (UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) A-dis) are both Large Cap Blend Equities funds - IUQA.L tracks the MSCI USA Sector Neutral Quality Index while USFM.L tracks the Russell 1000 TR USD. Both are passively managed. Over the past 5 years, IUQA.L returned 11.91%/yr vs 10.44%/yr for USFM.L. Their correlation of 0.86 suggests significant overlap in exposure. IUQA.L charges 0.20%/yr vs 0.25%/yr for USFM.L.

Performance

IUQA.L vs. USFM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI USA Quality Factor UCITS ETF USD Accumulating (IUQA.L) and UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) A-dis (USFM.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, IUQA.L achieves a 8.81% return, which is significantly lower than USFM.L's 11.89% return.

IUQA.L

• 1D: 0.80%
• 1M: 4.79%
• YTD: 8.81%
• 6M: 9.63%
• 1Y: 21.84%
• 3Y*: 19.71%
• 5Y*: 11.91%
• 10Y*: —

USFM.L

• 1D: 0.38%
• 1M: 4.30%
• YTD: 11.89%
• 6M: 13.11%
• 1Y: 23.60%
• 3Y*: 18.99%
• 5Y*: 10.44%
• 10Y*: —

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

IUQA.L vs. USFM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUQA.L iShares Edge MSCI USA Quality Factor UCITS ETF USD Accumulating	8.81%	12.50%	22.46%	30.92%	-20.74%	27.56%	16.09%	33.32%	-6.99%	15.95%
USFM.L UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) A-dis	11.89%	13.71%	18.11%	16.29%	-13.57%	24.98%	14.18%	30.60%	-6.02%	15.88%

Correlation

The correlation between IUQA.L and USFM.L is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 18, 2017	0.86

The correlation between IUQA.L and USFM.L has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

IUQA.L vs. USFM.L - Sectors Allocation Comparison

Sectors	IUQA.L	USFM.L
Technology	36.5%	20.8%
Financial Services	11.5%	15.2%
Communication Services	11.1%	6.4%
Consumer Cyclical	9.4%	6.4%
Healthcare	9.0%	13.9%
Industrials	8.2%	15.3%
Consumer Defensive	4.9%	8.7%
Energy	4.0%	3.3%
Utilities	1.9%	4.0%
Real Estate	1.8%	2.9%
Basic Materials	1.7%	3.2%

Return for Risk

IUQA.L vs. USFM.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IUQA.L

IUQA.L Risk / Return Rank: 61
IUQA.L Sharpe Ratio Rank: 58
IUQA.L Sortino Ratio Rank: 66
IUQA.L Omega Ratio Rank: 59
IUQA.L Calmar Ratio Rank: 55
IUQA.L Martin Ratio Rank: 65

USFM.L

USFM.L Risk / Return Rank: 82
USFM.L Sharpe Ratio Rank: 81
USFM.L Sortino Ratio Rank: 81
USFM.L Omega Ratio Rank: 79
USFM.L Calmar Ratio Rank: 84
USFM.L Martin Ratio Rank: 82

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.

IUQA.L vs. USFM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Quality Factor UCITS ETF USD Accumulating (IUQA.L) and UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) A-dis (USFM.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.

	IUQA.L	USFM.L	Difference
Sharpe ratio: Return per unit of total volatility	1.93	2.32	-0.39
Sortino ratio: Return per unit of downside risk	2.98	3.53	-0.55
Omega ratio: Gain probability vs. loss probability	1.35	1.41	-0.05
Calmar ratio: Return relative to maximum drawdown	2.72	3.37	-0.65
Martin ratio: Return relative to average drawdown	11.68	13.99	-2.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUQA.L vs. USFM.L - Sharpe Ratio Comparison

The current IUQA.L Sharpe Ratio is 1.93, which is comparable to the USFM.L Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of IUQA.L and USFM.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

	IUQA.L	USFM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	2.32	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.72	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.82	+0.05

Drawdowns

IUQA.L vs. USFM.L - Drawdown Comparison

The maximum IUQA.L drawdown since its inception was -33.96%, roughly equal to the maximum USFM.L drawdown of -35.45%. Use the drawdown chart below to compare losses from any high point for IUQA.L and USFM.L.

Drawdown Indicators

	IUQA.L	USFM.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.96%	-35.45%	+1.49%
Max Drawdown (1Y) Largest decline over 1 year	-7.99%	-6.96%	-1.03%
Max Drawdown (3Y) Largest decline over 3 years	-18.04%	-16.05%	-1.99%
Max Drawdown (5Y) Largest decline over 5 years	-27.77%	-22.41%	-5.36%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.87%	-4.68%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	1.68%	+0.18%

Volatility

IUQA.L vs. USFM.L - Volatility Comparison

The current volatility for iShares Edge MSCI USA Quality Factor UCITS ETF USD Accumulating (IUQA.L) is 2.78%, while UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) A-dis (USFM.L) has a volatility of 2.93%. This indicates that IUQA.L experiences smaller price fluctuations and is considered to be less risky than USFM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUQA.L	USFM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	2.93%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	8.27%	7.48%	+0.79%
Volatility (1Y) Calculated over the trailing 1-year period	11.27%	10.13%	+1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.29%	14.46%	+1.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.71%	16.20%	+0.51%

IUQA.L vs. USFM.L - Expense Ratio Comparison

IUQA.L has a 0.20% expense ratio, which is lower than USFM.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

IUQA.L vs. USFM.L - Dividend Comparison

IUQA.L has not paid dividends to shareholders, while USFM.L's dividend yield for the trailing twelve months is around 1.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUQA.L iShares Edge MSCI USA Quality Factor UCITS ETF USD Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USFM.L UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) A-dis	1.07%	1.20%	1.14%	1.37%	1.22%	1.01%	1.34%	1.30%	1.37%	0.30%

Frequently Asked Questions

Can I hold both IUQA.L and USFM.L in my portfolio?

IUQA.L and USFM.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IUQA.L or USFM.L?

On fees, IUQA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IUQA.L or USFM.L?

IUQA.L is cheaper with a 0.20% expense ratio, compared with 0.25% for USFM.L.

What is the main difference between IUQA.L and USFM.L?

IUQA.L tracks MSCI USA Sector Neutral Quality Index, while USFM.L tracks Russell 1000 TR USD. They also come from different issuers: iShares and UBS. Their fees differ too: 0.20% for IUQA.L and 0.25% for USFM.L.