IUVF.L vs. IUVL.L

Last updated Jun 5, 2026

IUVF.L (iShares Edge MSCI USA Value Factor UCITS) and IUVL.L (iShares Edge MSCI USA Value Factor UCITS ETF USD (Acc)) are both Large Cap Value Equities funds from iShares - IUVF.L tracks the Russell 1000 Value TR USD while IUVL.L tracks the MSCI USA Enhanced Value Index. Both are passively managed. Over the past 5 years, IUVF.L returned 16.97%/yr vs 16.99%/yr for IUVL.L. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

IUVF.L vs. IUVL.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 iShares Edge MSCI USA Value Factor UCITS ETF USD (Acc) (IUVL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with IUVF.L having a 46.62% return and IUVL.L slightly higher at 47.05%.

IUVF.L

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

IUVL.L

• 1D: -0.85%
• 1M: 16.88%
• YTD: 47.05%
• 6M: 49.41%
• 1Y: 91.01%
• 3Y*: 30.09%
• 5Y*: 16.99%
• 10Y*: —

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

IUVF.L vs. IUVL.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%	10.45%
IUVL.L iShares Edge MSCI USA Value Factor UCITS ETF USD (Acc)	47.05%	23.59%	8.35%	8.80%	-4.75%	31.03%	-4.38%	21.14%	-6.90%	11.16%

Correlation

The correlation between IUVF.L and IUVL.L is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Nov 3, 2016	0.89

The correlation between IUVF.L and IUVL.L has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

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

Sectors	IUVF.L	IUVL.L
Technology	50.9%	44.9%
Financial Services	9.1%	10.4%
Healthcare	7.9%	8.4%
Consumer Cyclical	7.6%	8.3%
Communication Services	7.2%	8.3%
Industrials	6.4%	7.3%
Consumer Defensive	3.6%	4.0%
Energy	2.7%	3.2%
Utilities	1.7%	1.9%
Real Estate	1.6%	1.8%
Basic Materials	1.4%	1.6%

Return for Risk

IUVF.L vs. IUVL.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

IUVL.L

IUVL.L Risk / Return Rank: 97
IUVL.L Sharpe Ratio Rank: 98
IUVL.L Sortino Ratio Rank: 98
IUVL.L Omega Ratio Rank: 97
IUVL.L Calmar Ratio Rank: 97
IUVL.L Martin Ratio Rank: 97

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. IUVL.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 iShares Edge MSCI USA Value Factor UCITS ETF USD (Acc) (IUVL.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	IUVL.L	Difference
Sharpe ratio: Return per unit of total volatility	5.93	5.50	+0.43
Sortino ratio: Return per unit of downside risk	7.82	7.11	+0.71
Omega ratio: Gain probability vs. loss probability	2.05	1.94	+0.10
Calmar ratio: Return relative to maximum drawdown	15.82	13.71	+2.10
Martin ratio: Return relative to average drawdown	61.43	52.91	+8.53
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. IUVL.L - Sharpe Ratio Comparison

The current IUVF.L Sharpe Ratio is 5.93, which is comparable to the IUVL.L Sharpe Ratio of 5.50. The chart below compares the historical Sharpe Ratios of IUVF.L and IUVL.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	IUVL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.93	5.50	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.06	0.99	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.74	+0.09

Drawdowns

IUVF.L vs. IUVL.L - Drawdown Comparison

The maximum IUVF.L drawdown since its inception was -31.83%, roughly equal to the maximum IUVL.L drawdown of -32.30%. Use the drawdown chart below to compare losses from any high point for IUVF.L and IUVL.L.

Drawdown Indicators

	IUVF.L	IUVL.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.83%	-32.30%	+0.47%
Max Drawdown (1Y) Largest decline over 1 year	-5.71%	-6.60%	+0.89%
Max Drawdown (3Y) Largest decline over 3 years	-20.13%	-20.49%	+0.36%
Max Drawdown (5Y) Largest decline over 5 years	-20.13%	-20.49%	+0.36%
Current Drawdown Current decline from peak	-0.97%	-0.85%	-0.12%
Average Drawdown Average peak-to-trough decline	-5.67%	-5.54%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	1.71%	-0.24%

Volatility

IUVF.L vs. IUVL.L - Volatility Comparison

The current volatility for iShares Edge MSCI USA Value Factor UCITS (IUVF.L) is 6.56%, while iShares Edge MSCI USA Value Factor UCITS ETF USD (Acc) (IUVL.L) has a volatility of 7.25%. This indicates that IUVF.L experiences smaller price fluctuations and is considered to be less risky than IUVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUVF.L	IUVL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.56%	7.25%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	12.10%	13.40%	-1.30%
Volatility (1Y) Calculated over the trailing 1-year period	15.24%	16.47%	-1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.94%	17.13%	-1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.43%	18.66%	-0.23%

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

Both IUVF.L and IUVL.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

IUVF.L vs. IUVL.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.95, IUVF.L and IUVL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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

IUVF.L and IUVL.L have the same expense ratio: 0.20% per year.

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

IUVF.L tracks Russell 1000 Value TR USD, while IUVL.L tracks MSCI USA Enhanced Value Index.