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IUVF.L vs. QUAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUVF.L vs. QUAL

Last updated Jun 12, 2026

IUVF.L (iShares Edge MSCI USA Value Factor UCITS) and QUAL (iShares MSCI USA Quality Factor ETF) are both exchange-traded funds - IUVF.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD, while QUAL is a Large Cap Blend Equities fund tracking the MSCI USA Sector Neutral Quality Index. Both are passively managed. Over the past 5 years, IUVF.L returned 16.22%/yr vs 13.03%/yr for QUAL. At a 0.46 correlation, their price movements are largely independent. IUVF.L charges 0.20%/yr vs 0.15%/yr for QUAL.

Performance

IUVF.L vs. QUAL - 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 MSCI USA Quality Factor ETF (QUAL). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, IUVF.L achieves a 41.36% return, which is significantly higher than QUAL's 9.52% return.

IUVF.L

1D
0.24%
1M
8.67%
YTD
41.36%
6M
41.69%
1Y
79.59%
3Y*
27.51%
5Y*
16.22%
10Y*
—

QUAL

1D
1.47%
1M
3.67%
YTD
9.52%
6M
7.85%
1Y
22.10%
3Y*
16.67%
5Y*
13.03%
10Y*
15.06%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUVF.L vs. QUAL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IUVF.L
iShares Edge MSCI USA Value Factor UCITS		41.36%23.92%8.23%8.28%-4.63%31.29%-4.75%22.11%-7.17%10.45%
QUAL
iShares MSCI USA Quality Factor ETF		9.52%4.62%24.42%24.34%-11.05%28.14%13.60%28.80%-0.11%11.69%

Correlation

The correlation between IUVF.L and QUAL is 0.50, 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

0.50

Correlation (3Y)
Calculated over the trailing 3-year period

0.39

Correlation (5Y)
Calculated over the trailing 5-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Oct 17, 2016

0.46

The correlation between IUVF.L and QUAL shifts across timeframes, from 0.39 (3 years) to 0.50 (1 year), reflecting how their relationship changes across market environments.

IUVF.L vs. QUAL - Sectors Allocation Comparison

Sectors
IUVF.L
QUAL

Technology

52.6%
36.5%

Financial Services

8.6%
11.5%

Consumer Cyclical

7.8%
9.3%

Healthcare

7.4%
9.0%

Communication Services

6.9%
11.1%

Industrials

6.3%
8.2%

Consumer Defensive

3.4%
4.9%

Energy

2.5%
4.0%

Utilities

1.6%
1.9%

Real Estate

1.5%
1.8%

Basic Materials

1.4%
1.7%

Technology

IUVF.L
52.6%
QUAL
36.5%

Financial Services

IUVF.L
8.6%
QUAL
11.5%

Consumer Cyclical

IUVF.L
7.8%
QUAL
9.3%

Healthcare

IUVF.L
7.4%
QUAL
9.0%

Communication Services

IUVF.L
6.9%
QUAL
11.1%

Industrials

IUVF.L
6.3%
QUAL
8.2%

Consumer Defensive

IUVF.L
3.4%
QUAL
4.9%

Energy

IUVF.L
2.5%
QUAL
4.0%

Utilities

IUVF.L
1.6%
QUAL
1.9%

Real Estate

IUVF.L
1.5%
QUAL
1.8%

Basic Materials

IUVF.L
1.4%
QUAL
1.7%

Compare stocks, funds, or ETFs

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iShares Edge MSCI USA Value Factor UCITS

iShares MSCI USA Quality Factor ETF

Often compared with IUVF.L:
IUVF.L vs. VTVIUVF.L vs. VLUEIUVF.L vs. VIVAXIUVF.L vs. EWSP.LIUVF.L vs. JREG.LIUVF.L vs. JREU.LIUVF.L vs. URTH
Often compared with QUAL:
QUAL vs. SPHQQUAL vs. SPYQUAL vs. MTUMQUAL vs. USMVQUAL vs. VOOQUAL vs. IVVQUAL vs. SCHD

Return for Risk

IUVF.L vs. QUAL — 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: 9898
Overall Rank
IUVF.L Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
IUVF.L Sortino Ratio Rank: 9898
Sortino Ratio Rank
IUVF.L Omega Ratio Rank: 9797
Omega Ratio Rank
IUVF.L Calmar Ratio Rank: 9898
Calmar Ratio Rank
IUVF.L Martin Ratio Rank: 9898
Martin Ratio Rank
QUAL
QUAL Risk / Return Rank: 6262
Overall Rank
QUAL Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
QUAL Sortino Ratio Rank: 6464
Sortino Ratio Rank
QUAL Omega Ratio Rank: 6060
Omega Ratio Rank
QUAL Calmar Ratio Rank: 5656
Calmar Ratio Rank
QUAL Martin Ratio Rank: 6969
Martin Ratio Rank
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. QUAL - 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 MSCI USA Quality Factor ETF (QUAL). 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.

IUVF.LQUALDifference
Sharpe ratioReturn per unit of total volatility
5.07
1.94

+3.13

Sortino ratioReturn per unit of downside risk
6.62
2.60

+4.01

Omega ratioGain probability vs. loss probability

1.89

1.35

+0.54

Calmar ratioReturn relative to maximum drawdown

13.86

3.08

+10.78

Martin ratioReturn relative to average drawdown

50.37

12.61

+37.76

IUVF.L vs. QUAL - Sharpe Ratio Comparison

The current IUVF.L Sharpe Ratio is 5.07, which is higher than the QUAL Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of IUVF.L and QUAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IUVF.L vs. QUAL - Drawdown Comparison

The maximum IUVF.L drawdown since its inception was -31.83%, which is greater than QUAL's maximum drawdown of -26.16%. Use the drawdown chart below to compare losses from any high point for IUVF.L and QUAL.

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Drawdown Indicators

IUVF.LQUALDifference

Max Drawdown

Largest peak-to-trough decline

-31.83%

-26.16%

-5.67%

Max Drawdown (1Y)

Largest decline over 1 year

-5.71%

-7.21%

+1.50%

Max Drawdown (3Y)

Largest decline over 3 years

-20.13%

-20.86%

+0.73%

Max Drawdown (5Y)

Largest decline over 5 years

-20.13%

-20.86%

+0.73%

Max Drawdown (10Y)

Largest decline over 10 years

—

-26.16%

—

Current Drawdown

Current decline from peak

-4.52%

-0.49%

-4.03%

Average Drawdown

Average peak-to-trough decline

-5.52%

-3.56%

-1.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.58%

1.76%

-0.18%

Volatility

IUVF.L vs. QUAL - Volatility Comparison

iShares Edge MSCI USA Value Factor UCITS (IUVF.L) has a higher volatility of 7.07% compared to iShares MSCI USA Quality Factor ETF (QUAL) at 3.25%. This indicates that IUVF.L's price experiences larger fluctuations and is considered to be riskier than QUAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IUVF.LQUALDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.07%

3.25%

+3.82%

Volatility (6M)

Calculated over the trailing 6-month period

12.64%

8.61%

+4.03%

Volatility (1Y)

Calculated over the trailing 1-year period

15.62%

11.46%

+4.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.01%

16.29%

-0.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.94%

18.19%

-0.25%

IUVF.L vs. QUAL - Expense Ratio Comparison

IUVF.L has a 0.20% expense ratio, which is higher than QUAL's 0.15% 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. QUAL - Dividend Comparison

IUVF.L has not paid dividends to shareholders, while QUAL's dividend yield for the trailing twelve months is around 0.87%.

PositionTTM20252024202320222021202020192018201720162015
IUVF.L
iShares Edge MSCI USA Value Factor UCITS		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
QUAL
iShares MSCI USA Quality Factor ETF		0.87%0.94%1.02%1.23%1.59%1.20%1.39%1.60%2.00%1.76%1.96%1.63%

Frequently Asked Questions

IUVF.L and QUAL have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, QUAL is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

QUAL is cheaper with a 0.15% expense ratio, compared with 0.20% for IUVF.L.

IUVF.L is categorized as Large Cap Value Equities, while QUAL is Large Cap Blend Equities. IUVF.L tracks Russell 1000 Value TR USD, while QUAL tracks MSCI USA Sector Neutral Quality Index. Their fees differ too: 0.20% for IUVF.L and 0.15% for QUAL.

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