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IWFM.L vs. IWMO.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWFM.L vs. IWMO.L

Last updated Jun 5, 2026

IWFM.L (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) and IWMO.L (iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)) are both Momentum funds from iShares tracking the MSCI World Momentum Index. Both are passively managed. Over the past 10 years, IWFM.L returned 16.44%/yr vs 16.44%/yr for IWMO.L. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

IWFM.L vs. IWMO.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 iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IWFM.L is traded in GBp, while IWMO.L is traded in USD. To make them comparable, the IWMO.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 IWFM.L having a 22.13% return and IWMO.L slightly higher at 22.38%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: IWFM.L at 16.44% and IWMO.L at 16.44%.

IWFM.L

1D
-0.86%
1M
8.93%
YTD
22.13%
6M
22.59%
1Y
35.15%
3Y*
26.24%
5Y*
14.83%
10Y*
16.44%

IWMO.L

1D
-0.78%
1M
8.91%
YTD
22.38%
6M
22.53%
1Y
35.16%
3Y*
26.32%
5Y*
14.85%
10Y*
16.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
IWFM.L
iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)		22.13%12.72%32.62%5.85%-8.21%15.58%24.16%23.25%1.62%20.40%
IWMO.L
iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)		22.38%12.41%32.77%6.36%-8.22%15.21%24.80%22.30%1.85%20.67%

Correlation

The correlation between IWFM.L and IWMO.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 (10Y)
Calculated over the trailing 10-year period

0.91

Correlation (All Time)
Calculated using the full available price history since Oct 8, 2014

0.89

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

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

Sectors
IWFM.L
IWMO.L

Technology

26.0%
26.0%

Industrials

18.7%
18.7%

Financial Services

13.1%
13.1%

Healthcare

10.7%
10.7%

Energy

10.6%
10.6%

Communication Services

6.8%
6.8%

Basic Materials

6.0%
6.0%

Utilities

3.7%
3.7%

Consumer Cyclical

1.6%
1.6%

Consumer Defensive

1.5%
1.5%

Real Estate

1.4%
1.4%

Technology

IWFM.L
26.0%
IWMO.L
26.0%

Industrials

IWFM.L
18.7%
IWMO.L
18.7%

Financial Services

IWFM.L
13.1%
IWMO.L
13.1%

Healthcare

IWFM.L
10.7%
IWMO.L
10.7%

Energy

IWFM.L
10.6%
IWMO.L
10.6%

Communication Services

IWFM.L
6.8%
IWMO.L
6.8%

Basic Materials

IWFM.L
6.0%
IWMO.L
6.0%

Utilities

IWFM.L
3.7%
IWMO.L
3.7%

Consumer Cyclical

IWFM.L
1.6%
IWMO.L
1.6%

Consumer Defensive

IWFM.L
1.5%
IWMO.L
1.5%

Real Estate

IWFM.L
1.4%
IWMO.L
1.4%

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iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)

iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)

Often compared with IWFM.L:
IWFM.L vs. SPMOIWFM.L vs. XDEM.DEIWFM.L vs. IMTMIWFM.L vs. IUMF.LIWFM.L vs. SPYIWFM.L vs. JPGL.LIWFM.L vs. ACWI
Often compared with IWMO.L:
IWMO.L vs. SPYIWMO.L vs. QMOMIWMO.L vs. VWRA.LIWMO.L vs. JPGL.LIWMO.L vs. IPRV.LIWMO.L vs. IWVL.LIWMO.L vs. AVUV

Return for Risk

IWFM.L vs. IWMO.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: 7272
Overall Rank
IWFM.L Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
IWFM.L Sortino Ratio Rank: 7171
Sortino Ratio Rank
IWFM.L Omega Ratio Rank: 6767
Omega Ratio Rank
IWFM.L Calmar Ratio Rank: 7777
Calmar Ratio Rank
IWFM.L Martin Ratio Rank: 8080
Martin Ratio Rank
IWMO.L
IWMO.L Risk / Return Rank: 6060
Overall Rank
IWMO.L Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
IWMO.L Sortino Ratio Rank: 6161
Sortino Ratio Rank
IWMO.L Omega Ratio Rank: 5656
Omega Ratio Rank
IWMO.L Calmar Ratio Rank: 6060
Calmar Ratio Rank
IWMO.L 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.

IWFM.L vs. IWMO.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 iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO.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.LIWMO.LDifference
Sharpe ratioReturn per unit of total volatility
2.16
2.02

+0.14

Sortino ratioReturn per unit of downside risk
3.18
2.96

+0.22

Omega ratioGain probability vs. loss probability

1.39

1.37

+0.02

Calmar ratioReturn relative to maximum drawdown

3.91

3.78

+0.13

Martin ratioReturn relative to average drawdown

15.27

14.86

+0.41

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. IWMO.L - Sharpe Ratio Comparison

The current IWFM.L Sharpe Ratio is 2.16, which is comparable to the IWMO.L Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of IWFM.L and IWMO.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.

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Sharpe Ratios by Period

IWFM.LIWMO.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.16

2.02

+0.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.90

0.85

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.98

0.92

+0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.98

0.89

+0.08

Drawdowns

IWFM.L vs. IWMO.L - Drawdown Comparison

The maximum IWFM.L drawdown since its inception was -22.58%, roughly equal to the maximum IWMO.L drawdown of -23.32%. Use the drawdown chart below to compare losses from any high point for IWFM.L and IWMO.L.

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Drawdown Indicators

IWFM.LIWMO.LDifference

Max Drawdown

Largest peak-to-trough decline

-22.58%

-23.32%

+0.74%

Max Drawdown (1Y)

Largest decline over 1 year

-8.95%

-9.26%

+0.31%

Max Drawdown (3Y)

Largest decline over 3 years

-20.40%

-20.19%

-0.21%

Max Drawdown (5Y)

Largest decline over 5 years

-20.40%

-20.31%

-0.09%

Max Drawdown (10Y)

Largest decline over 10 years

-22.58%

-23.32%

+0.74%

Current Drawdown

Current decline from peak

-0.86%

-0.78%

-0.08%

Average Drawdown

Average peak-to-trough decline

-4.94%

-4.92%

-0.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.30%

2.36%

-0.06%

Volatility

IWFM.L vs. IWMO.L - Volatility Comparison

The current volatility for iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWFM.L) is 5.85%, while iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO.L) has a volatility of 6.28%. This indicates that IWFM.L experiences smaller price fluctuations and is considered to be less risky than IWMO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWFM.LIWMO.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.85%

6.28%

-0.43%

Volatility (6M)

Calculated over the trailing 6-month period

13.75%

14.91%

-1.16%

Volatility (1Y)

Calculated over the trailing 1-year period

16.21%

17.32%

-1.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.47%

17.41%

-0.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.18%

17.92%

-0.74%

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

Both IWFM.L and IWMO.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IWFM.L vs. IWMO.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.95, IWFM.L and IWMO.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.

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

IWFM.L and IWMO.L have the same expense ratio: 0.25% per year.

Both ETFs track MSCI World Momentum Index.

Portfolio Optimizer

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