IVSI vs. UMMA

Last updated Jul 18, 2026

IVSI (Applied Finance IVS International Large ETF) and UMMA (Wahed Dow Jones Islamic World ETF) are both Foreign Large Cap Equities funds. Both are actively managed. A 0.80 correlation means they provide meaningful diversification when combined. Both charge a 0.65% expense ratio.

Performance

IVSI vs. UMMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Applied Finance IVS International Large ETF (IVSI) and Wahed Dow Jones Islamic World ETF (UMMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVSI achieves a 12.49% return, which is significantly lower than UMMA's 21.63% return.

IVSI

• 1D: -0.29%
• 1M: 0.83%
• 6M: 9.05%
• YTD: 12.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UMMA

• 1D: -0.66%
• 1M: -7.90%
• 6M: 13.74%
• YTD: 21.63%
• 1Y: 36.27%
• 3Y*: 18.01%
• 5Y*: —
• 10Y*: —

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

IVSI vs. UMMA - Yearly Performance Comparison

	2026 (YTD)	2025
IVSI Applied Finance IVS International Large ETF	12.49%	0.66%
UMMA Wahed Dow Jones Islamic World ETF	21.63%	0.45%

Correlation

The correlation between IVSI and UMMA is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	0.80

Return for Risk

IVSI vs. UMMA — Risk / Return Rank

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

IVSI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

UMMA

UMMA Risk / Return Rank: 57
UMMA Sharpe Ratio Rank: 56
UMMA Sortino Ratio Rank: 53
UMMA Omega Ratio Rank: 56
UMMA Calmar Ratio Rank: 62
UMMA Martin Ratio Rank: 61

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.

IVSI vs. UMMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Applied Finance IVS International Large ETF (IVSI) and Wahed Dow Jones Islamic World ETF (UMMA). 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.

	IVSI	UMMA	Difference
Sharpe ratio: Return per unit of total volatility	—	1.53	—
Sortino ratio: Return per unit of downside risk	—	2.07	—
Omega ratio: Gain probability vs. loss probability	—	1.28	—
Calmar ratio: Return relative to maximum drawdown	—	2.44	—
Martin ratio: Return relative to average drawdown	—	8.53	—

Drawdowns

IVSI vs. UMMA - Drawdown Comparison

The maximum IVSI drawdown since its inception was -11.73%, smaller than the maximum UMMA drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for IVSI and UMMA.

Drawdown Indicators

	IVSI	UMMA	Difference
Max Drawdown Largest peak-to-trough decline	-11.73%	-34.17%	+22.44%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.93%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.73%	—
Current Drawdown Current decline from peak	-1.16%	-10.86%	+9.70%
Average Drawdown Average peak-to-trough decline	-2.25%	-9.68%	+7.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.26%	—

Volatility

Volatility by Period

	IVSI	UMMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	21.44%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.23%	23.82%	-6.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.23%	21.23%	-4.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.23%	21.23%	-4.00%

IVSI vs. UMMA - Expense Ratio Comparison

Both IVSI and UMMA have an expense ratio of 0.65%.

Dividends

IVSI vs. UMMA - Dividend Comparison

IVSI's dividend yield for the trailing twelve months is around 0.04%, less than UMMA's 1.00% yield.

Position	TTM	2025	2024	2023	2022
IVSI Applied Finance IVS International Large ETF	0.04%	0.04%	0.00%	0.00%	0.00%
UMMA Wahed Dow Jones Islamic World ETF	1.00%	1.02%	0.91%	1.09%	1.77%

Frequently Asked Questions

Can I hold both IVSI and UMMA in my portfolio?

IVSI and UMMA have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IVSI or UMMA?

Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVSI or UMMA?

IVSI and UMMA have the same expense ratio: 0.65% per year.

Which ETF pays a higher dividend yield, IVSI or UMMA?

UMMA has the higher dividend yield at 1.00%, compared with 0.04% for IVSI.

What is the main difference between IVSI and UMMA?

They also come from different issuers: Applied Finance and Wahed.