IUSZ.L vs. FLPE.L
IUSZ.L (iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc)) and FLPE.L (Northern Trust Listed Private Equity UCITS ETF USD (Acc)) are both exchange-traded funds - IUSZ.L is a Mid Cap Blend Equities fund tracking the MSCI USA Mid-Cap Equal Weighted Index, 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, IUSZ.L returned 11.75%/yr vs 11.45%/yr for FLPE.L. A 0.77 correlation means they provide meaningful diversification when combined. IUSZ.L charges 0.20%/yr vs 0.40%/yr for FLPE.L.
Performance
IUSZ.L vs. FLPE.L - Performance Comparison
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Different Trading Currencies
IUSZ.L is traded in USD, while FLPE.L is traded in GBP. To make them comparable, the FLPE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IUSZ.L achieves a 8.82% return, which is significantly higher than FLPE.L's -13.57% return.
IUSZ.L
- 1D
- -0.44%
- 1M
- 0.52%
- 6M
- 5.50%
- YTD
- 8.82%
- 1Y
- 14.45%
- 3Y*
- 11.75%
- 5Y*
- 6.64%
- 10Y*
- —
FLPE.L
- 1D
- -0.39%
- 1M
- 0.66%
- 6M
- -16.03%
- YTD
- -13.57%
- 1Y
- -17.44%
- 3Y*
- 11.45%
- 5Y*
- —
- 10Y*
- —
IUSZ.L vs. FLPE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IUSZ.L iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc) | 8.82% | 8.58% | 12.73% | 17.19% | -8.83% |
FLPE.L Northern Trust Listed Private Equity UCITS ETF USD (Acc) | -13.57% | 5.67% | 29.19% | 42.28% | -43.71% |
Correlation
The correlation between IUSZ.L and FLPE.L is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022 | 0.77 |
The correlation between IUSZ.L and FLPE.L has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.
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Return for Risk
IUSZ.L vs. FLPE.L — Risk / Return Rank
IUSZ.L
FLPE.L
IUSZ.L vs. FLPE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc) (IUSZ.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.
| IUSZ.L | FLPE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.93 | ||
| Sortino ratioReturn per unit of downside risk | +2.77 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.89 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | -0.59 | +2.34 |
| Martin ratioReturn relative to average drawdown | 6.21 | -1.08 | +7.30 |
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Drawdowns
IUSZ.L vs. FLPE.L - Drawdown Comparison
The maximum IUSZ.L drawdown since its inception was -41.10%, smaller than the maximum FLPE.L drawdown of -52.75%. Use the drawdown chart below to compare losses from any high point for IUSZ.L and FLPE.L.
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Drawdown Indicators
| IUSZ.L | FLPE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.10% | -52.75% | +11.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -29.67% | +21.46% |
Max Drawdown (3Y)Largest decline over 3 years | -21.38% | -29.67% | +8.29% |
Max Drawdown (5Y)Largest decline over 5 years | -25.70% | — | — |
Current DrawdownCurrent decline from peak | -1.18% | -19.76% | +18.58% |
Average DrawdownAverage peak-to-trough decline | -6.47% | -23.48% | +17.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 16.06% | -13.74% |
Volatility
IUSZ.L vs. FLPE.L - Volatility Comparison
The current volatility for iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc) (IUSZ.L) is 3.58%, while Northern Trust Listed Private Equity UCITS ETF USD (Acc) (FLPE.L) has a volatility of 6.82%. This indicates that IUSZ.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
| IUSZ.L | FLPE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.58% | 6.82% | -3.24% |
Volatility (6M)Calculated over the trailing 6-month period | 9.42% | 18.81% | -9.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.41% | 22.88% | -10.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.02% | 28.17% | -10.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 28.17% | -7.46% |
IUSZ.L vs. FLPE.L - Expense Ratio Comparison
IUSZ.L has a 0.20% expense ratio, which is lower than FLPE.L's 0.40% expense ratio.
Dividends
IUSZ.L vs. FLPE.L - Dividend Comparison
IUSZ.L's dividend yield for the trailing twelve months is around 0.42%, while FLPE.L has not paid dividends to shareholders.
| Position | TTM |
|---|---|
FLPE.L Northern Trust Listed Private Equity UCITS ETF USD (Acc) | 0.00% |
IUSZ.L iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc) | 0.42% |
Frequently Asked Questions
IUSZ.L and FLPE.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSZ.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSZ.L is cheaper with a 0.20% expense ratio, compared with 0.40% for FLPE.L.
IUSZ.L is categorized as Mid Cap Blend Equities, while FLPE.L is Global Equities. IUSZ.L tracks MSCI USA Mid-Cap Equal Weighted Index, 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 IUSZ.L and 0.40% for FLPE.L.
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