IWFM.L vs. VEMA.L
IWFM.L (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) and VEMA.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating) are both exchange-traded funds - IWFM.L is a Momentum fund tracking the MSCI World Momentum Index, while VEMA.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, IWFM.L returned 14.83%/yr vs 3.45%/yr for VEMA.L. At a 0.32 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
IWFM.L vs. VEMA.L - Performance Comparison
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Different Trading Currencies
IWFM.L is traded in GBp, while VEMA.L is traded in GBP. To make them comparable, the VEMA.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IWFM.L achieves a 22.13% return, which is significantly higher than VEMA.L's 1.66% return.
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%
VEMA.L
- 1D
- 0.22%
- 1M
- 1.94%
- YTD
- 1.66%
- 6M
- 1.43%
- 1Y
- 10.75%
- 3Y*
- 6.06%
- 5Y*
- 3.45%
- 10Y*
- —
IWFM.L vs. VEMA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | 15.19% |
VEMA.L Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating | 1.66% | 4.15% | 8.11% | 3.45% | -5.29% | -0.35% | 2.49% | 8.03% |
Correlation
The correlation between IWFM.L and VEMA.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019 | 0.32 |
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Return for Risk
IWFM.L vs. VEMA.L — Risk / Return Rank
IWFM.L
VEMA.L
IWFM.L vs. VEMA.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.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 | VEMA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.33 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.91 | 2.44 | +1.47 |
| Martin ratioReturn relative to average drawdown | 15.27 | 6.67 | +8.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IWFM.L | VEMA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.16 | 1.83 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 0.42 | +0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 0.31 | +0.67 |
Drawdowns
IWFM.L vs. VEMA.L - Drawdown Comparison
The maximum IWFM.L drawdown since its inception was -22.58%, which is greater than VEMA.L's maximum drawdown of -14.59%. Use the drawdown chart below to compare losses from any high point for IWFM.L and VEMA.L.
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Drawdown Indicators
| IWFM.L | VEMA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.58% | -14.59% | -7.99% |
Max Drawdown (1Y)Largest decline over 1 year | -8.95% | -4.39% | -4.56% |
Max Drawdown (3Y)Largest decline over 3 years | -20.40% | -8.38% | -12.02% |
Max Drawdown (5Y)Largest decline over 5 years | -20.40% | -11.41% | -8.99% |
Max Drawdown (10Y)Largest decline over 10 years | -22.58% | — | — |
Current DrawdownCurrent decline from peak | -0.86% | -0.45% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -4.94% | -6.28% | +1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 1.61% | +0.69% |
Volatility
IWFM.L vs. VEMA.L - Volatility Comparison
iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWFM.L) has a higher volatility of 5.85% compared to Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L) at 1.47%. This indicates that IWFM.L's price experiences larger fluctuations and is considered to be riskier than VEMA.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.L | VEMA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.85% | 1.47% | +4.38% |
Volatility (6M)Calculated over the trailing 6-month period | 13.75% | 4.07% | +9.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.21% | 5.85% | +10.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.47% | 8.14% | +8.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.18% | 9.49% | +7.69% |
IWFM.L vs. VEMA.L - Expense Ratio Comparison
Both IWFM.L and VEMA.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. VEMA.L - Dividend Comparison
Neither IWFM.L nor VEMA.L has paid dividends to shareholders.
Frequently Asked Questions
IWFM.L and VEMA.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 VEMA.L have the same expense ratio: 0.25% per year.
IWFM.L is categorized as Momentum, while VEMA.L is Emerging Markets Bonds. IWFM.L tracks MSCI World Momentum Index, while VEMA.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and Vanguard.
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