IUSF.L vs. FLPE.L
IUSF.L (iShares Edge MSCI USA Size Factor UCITS ETF) and FLPE.L (Northern Trust Listed Private Equity UCITS ETF USD (Acc)) are both exchange-traded funds - IUSF.L is a Mid Cap Blend Equities fund tracking the Russell Mid Cap TR USD, while FLPE.L is a Global Equities fund tracking the MSCI World IMI Listed Private Equity Select (USD Net Total Return) Index. Both are passively managed. Over the past 3 years, IUSF.L returned 10.58%/yr vs 10.30%/yr for FLPE.L. A 0.73 correlation means they provide meaningful diversification when combined. IUSF.L charges 0.20%/yr vs 0.40%/yr for FLPE.L.
Performance
IUSF.L vs. FLPE.L - Performance Comparison
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Different Trading Currencies
IUSF.L is traded in GBp, while FLPE.L is traded in GBP. To make them comparable, the FLPE.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IUSF.L achieves a 8.56% return, which is significantly higher than FLPE.L's -13.52% return.
IUSF.L
- 1D
- -0.15%
- 1M
- 0.31%
- 6M
- 4.64%
- YTD
- 8.56%
- 1Y
- 13.53%
- 3Y*
- 10.58%
- 5Y*
- 7.07%
- 10Y*
- —
FLPE.L
- 1D
- -0.18%
- 1M
- -0.53%
- 6M
- -16.48%
- YTD
- -13.52%
- 1Y
- -17.64%
- 3Y*
- 10.30%
- 5Y*
- —
- 10Y*
- —
IUSF.L vs. FLPE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IUSF.L iShares Edge MSCI USA Size Factor UCITS ETF | 8.56% | 1.00% | 14.60% | 10.79% | 1.52% |
FLPE.L Northern Trust Listed Private Equity UCITS ETF USD (Acc) | -13.52% | -1.74% | 31.38% | 35.15% | -37.39% |
Correlation
The correlation between IUSF.L and FLPE.L is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022 | 0.73 |
The correlation between IUSF.L and FLPE.L has been stable across timeframes, ranging from 0.64 to 0.73 - a consistent structural relationship.
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Return for Risk
IUSF.L vs. FLPE.L — Risk / Return Rank
IUSF.L
FLPE.L
IUSF.L vs. FLPE.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 Northern Trust Listed Private Equity UCITS ETF USD (Acc) (FLPE.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.
| IUSF.L | FLPE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.05 | ||
| Sortino ratioReturn per unit of downside risk | +2.79 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.88 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | -0.62 | +2.44 |
| Martin ratioReturn relative to average drawdown | 5.55 | -1.15 | +6.70 |
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Drawdowns
IUSF.L vs. FLPE.L - Drawdown Comparison
The maximum IUSF.L drawdown since its inception was -33.67%, smaller than the maximum FLPE.L drawdown of -43.46%. Use the drawdown chart below to compare losses from any high point for IUSF.L and FLPE.L.
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Drawdown Indicators
| IUSF.L | FLPE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.67% | -43.46% | +9.79% |
Max Drawdown (1Y)Largest decline over 1 year | -7.39% | -28.35% | +20.96% |
Max Drawdown (3Y)Largest decline over 3 years | -22.73% | -30.16% | +7.43% |
Max Drawdown (5Y)Largest decline over 5 years | -22.73% | — | — |
Current DrawdownCurrent decline from peak | -2.39% | -21.17% | +18.78% |
Average DrawdownAverage peak-to-trough decline | -5.38% | -20.81% | +15.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.43% | 15.30% | -12.87% |
Volatility
IUSF.L vs. FLPE.L - Volatility Comparison
The current volatility for iShares Edge MSCI USA Size Factor UCITS ETF (IUSF.L) is 3.65%, while Northern Trust Listed Private Equity UCITS ETF USD (Acc) (FLPE.L) has a volatility of 5.99%. This indicates that IUSF.L experiences smaller price fluctuations and is considered to be less risky than FLPE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSF.L | FLPE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.65% | 5.99% | -2.34% |
Volatility (6M)Calculated over the trailing 6-month period | 8.05% | 17.69% | -9.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.19% | 21.57% | -10.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.99% | 26.09% | -10.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 26.09% | -8.83% |
IUSF.L vs. FLPE.L - Expense Ratio Comparison
IUSF.L has a 0.20% expense ratio, which is lower than FLPE.L's 0.40% expense ratio.
Dividends
IUSF.L vs. FLPE.L - Dividend Comparison
Neither IUSF.L nor FLPE.L has paid dividends to shareholders.
Frequently Asked Questions
IUSF.L and FLPE.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSF.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSF.L is cheaper with a 0.20% expense ratio, compared with 0.40% for FLPE.L.
IUSF.L is categorized as Mid Cap Blend Equities, while FLPE.L is Global Equities. IUSF.L tracks Russell Mid Cap TR USD, while FLPE.L tracks MSCI World IMI Listed Private Equity Select (USD Net Total Return) Index. They also come from different issuers: iShares and Northern Trust. Their fees differ too: 0.20% for IUSF.L and 0.40% for FLPE.L.
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