IWFM.L vs. BCHS.L

Last updated Jun 11, 2026

IWFM.L (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) and BCHS.L (Invesco CoinShares Global Blockchain UCITS ETF Acc) are both exchange-traded funds - IWFM.L is a Momentum fund tracking the MSCI World Momentum Index, while BCHS.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 5 years, IWFM.L returned 13.69%/yr vs 11.05%/yr for BCHS.L. A 0.59 correlation means they provide meaningful diversification when combined. IWFM.L charges 0.25%/yr vs 0.65%/yr for BCHS.L.

Performance

IWFM.L vs. BCHS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWFM.L) and Invesco CoinShares Global Blockchain UCITS ETF Acc (BCHS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWFM.L achieves a 16.58% return, which is significantly lower than BCHS.L's 17.59% return.

IWFM.L

• 1D: -0.56%
• 1M: 0.32%
• YTD: 16.58%
• 6M: 15.41%
• 1Y: 30.48%
• 3Y*: 24.82%
• 5Y*: 13.69%
• 10Y*: 15.80%

BCHS.L

• 1D: -1.39%
• 1M: -3.09%
• YTD: 17.59%
• 6M: 8.51%
• 1Y: 44.46%
• 3Y*: 39.54%
• 5Y*: 11.05%
• 10Y*: —

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

IWFM.L vs. BCHS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IWFM.L iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)	16.58%	12.72%	32.62%	5.85%	-8.21%	15.58%	24.16%	15.65%
BCHS.L Invesco CoinShares Global Blockchain UCITS ETF Acc	17.59%	35.24%	18.50%	58.28%	-46.25%	26.00%	89.05%	-12.06%

Correlation

The correlation between IWFM.L and BCHS.L is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019	0.59

The correlation between IWFM.L and BCHS.L has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.

IWFM.L vs. BCHS.L - Sectors Allocation Comparison

Sectors	IWFM.L	BCHS.L
Technology	26.0%	30.6%
Industrials	18.7%	0.5%
Financial Services	13.1%	57.4%
Healthcare	10.7%	0.0%
Energy	10.6%	0.0%
Communication Services	6.8%	3.9%
Basic Materials	6.0%	0.0%
Utilities	3.7%	1.2%
Consumer Cyclical	1.6%	6.4%
Consumer Defensive	1.5%	0.0%
Real Estate	1.4%	0.0%

Return for Risk

IWFM.L vs. BCHS.L — Risk / Return Rank

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

IWFM.L

IWFM.L Risk / Return Rank: 72
IWFM.L Sharpe Ratio Rank: 66
IWFM.L Sortino Ratio Rank: 70
IWFM.L Omega Ratio Rank: 66
IWFM.L Calmar Ratio Rank: 77
IWFM.L Martin Ratio Rank: 79

BCHS.L

BCHS.L Risk / Return Rank: 34
BCHS.L Sharpe Ratio Rank: 38
BCHS.L Sortino Ratio Rank: 37
BCHS.L Omega Ratio Rank: 34
BCHS.L Calmar Ratio Rank: 36
BCHS.L Martin Ratio Rank: 26

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.

IWFM.L vs. BCHS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWFM.L) and Invesco CoinShares Global Blockchain UCITS ETF Acc (BCHS.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.

	IWFM.L	BCHS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.16	+0.68
Sortino ratio: Return per unit of downside risk	2.70	1.69	+1.01
Omega ratio: Gain probability vs. loss probability	1.34	1.20	+0.14
Calmar ratio: Return relative to maximum drawdown	3.39	1.50	+1.89
Martin ratio: Return relative to average drawdown	12.95	3.03	+9.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWFM.L vs. BCHS.L - Sharpe Ratio Comparison

The current IWFM.L Sharpe Ratio is 1.84, which is higher than the BCHS.L Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of IWFM.L and BCHS.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

	IWFM.L	BCHS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	1.16	+0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.29	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.50	-0.01

Drawdowns

IWFM.L vs. BCHS.L - Drawdown Comparison

The maximum IWFM.L drawdown since its inception was -41.86%, smaller than the maximum BCHS.L drawdown of -55.89%. Use the drawdown chart below to compare losses from any high point for IWFM.L and BCHS.L.

Drawdown Indicators

	IWFM.L	BCHS.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.86%	-55.89%	+14.03%
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	-29.49%	+20.54%
Max Drawdown (3Y) Largest decline over 3 years	-21.15%	-35.64%	+14.49%
Max Drawdown (5Y) Largest decline over 5 years	-21.15%	-55.89%	+34.74%
Max Drawdown (10Y) Largest decline over 10 years	-22.58%	—	—
Current Drawdown Current decline from peak	-5.36%	-10.82%	+5.46%
Average Drawdown Average peak-to-trough decline	-9.42%	-23.09%	+13.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	14.62%	-12.27%

Volatility

IWFM.L vs. BCHS.L - Volatility Comparison

The current volatility for iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWFM.L) is 6.37%, while Invesco CoinShares Global Blockchain UCITS ETF Acc (BCHS.L) has a volatility of 12.16%. This indicates that IWFM.L experiences smaller price fluctuations and is considered to be less risky than BCHS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWFM.L	BCHS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.37%	12.16%	-5.79%
Volatility (6M) Calculated over the trailing 6-month period	14.15%	25.84%	-11.69%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	38.25%	-21.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.59%	38.20%	-16.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.60%	36.49%	-16.89%

IWFM.L vs. BCHS.L - Expense Ratio Comparison

IWFM.L has a 0.25% expense ratio, which is lower than BCHS.L's 0.65% expense ratio.

Dividends

IWFM.L vs. BCHS.L - Dividend Comparison

Neither IWFM.L nor BCHS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IWFM.L and BCHS.L in my portfolio?

IWFM.L and BCHS.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IWFM.L or BCHS.L?

On fees, IWFM.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IWFM.L or BCHS.L?

IWFM.L is cheaper with a 0.25% expense ratio, compared with 0.65% for BCHS.L.

What is the main difference between IWFM.L and BCHS.L?

IWFM.L is categorized as Momentum, while BCHS.L is Technology Equities. IWFM.L tracks MSCI World Momentum Index, while BCHS.L tracks MSCI World/Information Tech NR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for IWFM.L and 0.65% for BCHS.L.