IUVF.L vs. CMOP.L

Last updated Jun 5, 2026

IUVF.L (iShares Edge MSCI USA Value Factor UCITS) and CMOP.L (Invesco Bloomberg Commodity UCITS ETF Acc) are both exchange-traded funds - IUVF.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD, while CMOP.L is a Commodities fund tracking the Bloomberg Commodity. Both are passively managed. Over the past 5 years, IUVF.L returned 16.97%/yr vs 12.08%/yr for CMOP.L. At a 0.26 correlation, their price movements are largely independent. IUVF.L charges 0.20%/yr vs 0.19%/yr for CMOP.L.

Performance

IUVF.L vs. CMOP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI USA Value Factor UCITS (IUVF.L) and Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUVF.L achieves a 46.62% return, which is significantly higher than CMOP.L's 24.84% return.

IUVF.L

• 1D: -0.97%
• 1M: 16.86%
• YTD: 46.62%
• 6M: 49.54%
• 1Y: 90.82%
• 3Y*: 29.97%
• 5Y*: 16.97%
• 10Y*: —

CMOP.L

• 1D: -1.31%
• 1M: -2.74%
• YTD: 24.84%
• 6M: 23.47%
• 1Y: 38.91%
• 3Y*: 12.42%
• 5Y*: 12.08%
• 10Y*: —

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

IUVF.L vs. CMOP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUVF.L iShares Edge MSCI USA Value Factor UCITS	46.62%	23.92%	8.23%	8.28%	-4.63%	31.29%	-5.36%	22.90%	-7.17%	8.27%
CMOP.L Invesco Bloomberg Commodity UCITS ETF Acc	24.84%	8.23%	6.01%	-12.72%	28.44%	28.71%	-7.11%	3.31%	-5.01%	-5.69%

Correlation

The correlation between IUVF.L and CMOP.L is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Apr 11, 2017	0.26

The correlation between IUVF.L and CMOP.L shifts across timeframes, from -0.06 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

IUVF.L vs. CMOP.L - Sectors Allocation Comparison

Sectors	IUVF.L	CMOP.L
Technology	50.9%	5.6%
Financial Services	9.1%	17.8%
Healthcare	7.9%	-
Consumer Cyclical	7.6%	12.9%
Communication Services	7.2%	12.3%
Industrials	6.4%	-
Consumer Defensive	3.6%	9.7%
Energy	2.7%	-
Utilities	1.7%	-
Real Estate	1.6%	5.8%
Basic Materials	1.4%	35.8%

Return for Risk

IUVF.L vs. CMOP.L — Risk / Return Rank

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

IUVF.L

IUVF.L Risk / Return Rank: 98
IUVF.L Sharpe Ratio Rank: 98
IUVF.L Sortino Ratio Rank: 98
IUVF.L Omega Ratio Rank: 98
IUVF.L Calmar Ratio Rank: 98
IUVF.L Martin Ratio Rank: 98

CMOP.L

CMOP.L Risk / Return Rank: 67
CMOP.L Sharpe Ratio Rank: 64
CMOP.L Sortino Ratio Rank: 55
CMOP.L Omega Ratio Rank: 65
CMOP.L Calmar Ratio Rank: 88
CMOP.L Martin Ratio Rank: 65

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.

IUVF.L vs. CMOP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Value Factor UCITS (IUVF.L) and Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.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.

	IUVF.L	CMOP.L	Difference
Sharpe ratio: Return per unit of total volatility	5.93	2.10	+3.82
Sortino ratio: Return per unit of downside risk	7.82	2.58	+5.24
Omega ratio: Gain probability vs. loss probability	2.05	1.39	+0.66
Calmar ratio: Return relative to maximum drawdown	15.82	5.07	+10.74
Martin ratio: Return relative to average drawdown	61.43	11.63	+49.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUVF.L vs. CMOP.L - Sharpe Ratio Comparison

The current IUVF.L Sharpe Ratio is 5.93, which is higher than the CMOP.L Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of IUVF.L and CMOP.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

	IUVF.L	CMOP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.93	2.10	+3.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.06	0.73	+0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.43	+0.40

Drawdowns

IUVF.L vs. CMOP.L - Drawdown Comparison

The maximum IUVF.L drawdown since its inception was -31.83%, which is greater than CMOP.L's maximum drawdown of -28.78%. Use the drawdown chart below to compare losses from any high point for IUVF.L and CMOP.L.

Drawdown Indicators

	IUVF.L	CMOP.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.83%	-28.78%	-3.05%
Max Drawdown (1Y) Largest decline over 1 year	-5.71%	-7.63%	+1.92%
Max Drawdown (3Y) Largest decline over 3 years	-20.13%	-14.89%	-5.24%
Max Drawdown (5Y) Largest decline over 5 years	-20.13%	-28.78%	+8.65%
Current Drawdown Current decline from peak	-0.97%	-4.98%	+4.01%
Average Drawdown Average peak-to-trough decline	-5.67%	-12.18%	+6.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	3.34%	-1.87%

Volatility

IUVF.L vs. CMOP.L - Volatility Comparison

iShares Edge MSCI USA Value Factor UCITS (IUVF.L) has a higher volatility of 6.56% compared to Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L) at 6.19%. This indicates that IUVF.L's price experiences larger fluctuations and is considered to be riskier than CMOP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUVF.L	CMOP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.56%	6.19%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	12.10%	16.17%	-4.07%
Volatility (1Y) Calculated over the trailing 1-year period	15.24%	18.42%	-3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.94%	16.59%	-0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.43%	15.15%	+3.28%

IUVF.L vs. CMOP.L - Expense Ratio Comparison

IUVF.L has a 0.20% expense ratio, which is higher than CMOP.L's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IUVF.L vs. CMOP.L - Dividend Comparison

Neither IUVF.L nor CMOP.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IUVF.L and CMOP.L in my portfolio?

IUVF.L and CMOP.L have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IUVF.L or CMOP.L?

On fees, CMOP.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IUVF.L or CMOP.L?

CMOP.L is cheaper with a 0.19% expense ratio, compared with 0.20% for IUVF.L.

What is the main difference between IUVF.L and CMOP.L?

IUVF.L is categorized as Large Cap Value Equities, while CMOP.L is Commodities. IUVF.L tracks Russell 1000 Value TR USD, while CMOP.L tracks Bloomberg Commodity. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for IUVF.L and 0.19% for CMOP.L.