IUSF.L vs. CEA1.L

Last updated Jun 5, 2026

IUSF.L (iShares Edge MSCI USA Size Factor UCITS ETF) and CEA1.L (iShares MSCI EM Asia UCITS ETF (Acc)) are both exchange-traded funds - IUSF.L is a Mid Cap Blend Equities fund tracking the Russell Mid Cap TR USD, while CEA1.L is a Asia Pacific Equities fund tracking the MSCI AC Asia Ex Japan NR USD. Both are passively managed. Over the past 5 years, IUSF.L returned 7.45%/yr vs 9.12%/yr for CEA1.L. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.

Performance

IUSF.L vs. CEA1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI USA Size Factor UCITS ETF (IUSF.L) and iShares MSCI EM Asia UCITS ETF (Acc) (CEA1.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUSF.L achieves a 7.69% return, which is significantly lower than CEA1.L's 30.56% return.

IUSF.L

• 1D: 0.64%
• 1M: 4.37%
• YTD: 7.69%
• 6M: 7.96%
• 1Y: 17.90%
• 3Y*: 11.63%
• 5Y*: 7.45%
• 10Y*: —

CEA1.L

• 1D: -1.69%
• 1M: 8.28%
• YTD: 30.56%
• 6M: 33.05%
• 1Y: 59.80%
• 3Y*: 23.16%
• 5Y*: 9.12%
• 10Y*: 12.09%

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

IUSF.L vs. CEA1.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUSF.L iShares Edge MSCI USA Size Factor UCITS ETF	7.69%	1.00%	14.60%	10.79%	-8.57%	27.74%	13.62%	23.94%	-5.85%	7.91%
CEA1.L iShares MSCI EM Asia UCITS ETF (Acc)	30.56%	25.23%	13.67%	0.79%	-11.96%	-4.22%	23.90%	13.81%	-10.88%	29.65%

Correlation

The correlation between IUSF.L and CEA1.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (All Time) Calculated using the full available price history since Oct 18, 2016	0.57

The correlation between IUSF.L and CEA1.L shifts across timeframes, from 0.45 (3 years) to 0.57 (all time), reflecting how their relationship changes across market environments.

IUSF.L vs. CEA1.L - Sectors Allocation Comparison

Sectors	IUSF.L	CEA1.L
Technology	21.2%	49.6%
Industrials	16.5%	7.2%
Financial Services	12.4%	13.7%
Consumer Cyclical	9.9%	9.9%
Healthcare	9.3%	3.0%
Real Estate	7.1%	0.7%
Utilities	6.3%	1.4%
Consumer Defensive	5.7%	2.2%
Basic Materials	5.3%	3.4%
Communication Services	3.9%	6.5%
Energy	2.3%	2.5%

Return for Risk

IUSF.L vs. CEA1.L — Risk / Return Rank

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

IUSF.L

IUSF.L Risk / Return Rank: 46
IUSF.L Sharpe Ratio Rank: 46
IUSF.L Sortino Ratio Rank: 45
IUSF.L Omega Ratio Rank: 43
IUSF.L Calmar Ratio Rank: 50
IUSF.L Martin Ratio Rank: 46

CEA1.L

CEA1.L Risk / Return Rank: 89
CEA1.L Sharpe Ratio Rank: 92
CEA1.L Sortino Ratio Rank: 90
CEA1.L Omega Ratio Rank: 91
CEA1.L Calmar Ratio Rank: 88
CEA1.L Martin Ratio Rank: 86

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.

IUSF.L vs. CEA1.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Size Factor UCITS ETF (IUSF.L) and iShares MSCI EM Asia UCITS ETF (Acc) (CEA1.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.

	IUSF.L	CEA1.L	Difference
Sharpe ratio: Return per unit of total volatility	1.59	3.23	-1.64
Sortino ratio: Return per unit of downside risk	2.21	4.12	-1.91
Omega ratio: Gain probability vs. loss probability	1.28	1.58	-0.31
Calmar ratio: Return relative to maximum drawdown	2.41	5.09	-2.68
Martin ratio: Return relative to average drawdown	7.40	17.73	-10.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUSF.L vs. CEA1.L - Sharpe Ratio Comparison

The current IUSF.L Sharpe Ratio is 1.59, which is lower than the CEA1.L Sharpe Ratio of 3.23. The chart below compares the historical Sharpe Ratios of IUSF.L and CEA1.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

	IUSF.L	CEA1.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	3.23	-1.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.51	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.53	+0.03

Drawdowns

IUSF.L vs. CEA1.L - Drawdown Comparison

The maximum IUSF.L drawdown since its inception was -33.67%, roughly equal to the maximum CEA1.L drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for IUSF.L and CEA1.L.

Drawdown Indicators

	IUSF.L	CEA1.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.67%	-33.94%	+0.27%
Max Drawdown (1Y) Largest decline over 1 year	-7.39%	-11.68%	+4.29%
Max Drawdown (3Y) Largest decline over 3 years	-22.73%	-17.35%	-5.38%
Max Drawdown (5Y) Largest decline over 5 years	-22.73%	-28.87%	+6.14%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.94%	—
Current Drawdown Current decline from peak	0.00%	-2.67%	+2.67%
Average Drawdown Average peak-to-trough decline	-5.45%	-11.09%	+5.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	3.36%	-0.95%

Volatility

IUSF.L vs. CEA1.L - Volatility Comparison

The current volatility for iShares Edge MSCI USA Size Factor UCITS ETF (IUSF.L) is 2.67%, while iShares MSCI EM Asia UCITS ETF (Acc) (CEA1.L) has a volatility of 8.22%. This indicates that IUSF.L experiences smaller price fluctuations and is considered to be less risky than CEA1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUSF.L	CEA1.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	8.22%	-5.55%
Volatility (6M) Calculated over the trailing 6-month period	7.66%	15.73%	-8.07%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	18.45%	-7.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.95%	17.81%	-1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.36%	18.53%	-1.17%

IUSF.L vs. CEA1.L - Expense Ratio Comparison

Both IUSF.L and CEA1.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IUSF.L vs. CEA1.L - Dividend Comparison

Neither IUSF.L nor CEA1.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IUSF.L and CEA1.L in my portfolio?

IUSF.L and CEA1.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IUSF.L or CEA1.L?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IUSF.L or CEA1.L?

IUSF.L and CEA1.L have the same expense ratio: 0.20% per year.

What is the main difference between IUSF.L and CEA1.L?

IUSF.L is categorized as Mid Cap Blend Equities, while CEA1.L is Asia Pacific Equities. IUSF.L tracks Russell Mid Cap TR USD, while CEA1.L tracks MSCI AC Asia Ex Japan NR USD.