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

IWMO.L vs. IUMO.L

Last updated Jun 5, 2026

IWMO.L (iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)) and IUMO.L (iShares Edge MSCI USA Momentum Factor UCITS ETF USD Acc) are both Momentum funds from iShares - IWMO.L tracks the MSCI World Momentum Index while IUMO.L tracks the MSCI USA Momentum Index. Both are passively managed. Over the past 5 years, IWMO.L returned 13.62%/yr vs 14.09%/yr for IUMO.L. Their correlation of 0.90 suggests significant overlap in exposure. IWMO.L charges 0.25%/yr vs 0.20%/yr for IUMO.L.

Performance

IWMO.L vs. IUMO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO.L) and iShares Edge MSCI USA Momentum Factor UCITS ETF USD Acc (IUMO.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IWMO.L achieves a 21.89% return, which is significantly lower than IUMO.L's 29.52% return.

IWMO.L

1D
-0.78%
1M
5.62%
YTD
21.89%
6M
23.45%
1Y
33.45%
3Y*
29.58%
5Y*
13.62%
10Y*
15.58%

IUMO.L

1D
-1.94%
1M
9.39%
YTD
29.52%
6M
29.71%
1Y
39.24%
3Y*
32.22%
5Y*
14.09%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
IWMO.L
iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)		21.89%21.04%30.50%11.96%-17.97%14.13%28.58%27.14%-3.85%32.09%
IUMO.L
iShares Edge MSCI USA Momentum Factor UCITS ETF USD Acc		29.52%17.81%31.88%9.83%-18.15%12.60%29.61%28.49%-3.73%37.07%

Correlation

The correlation between IWMO.L and IUMO.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

0.96

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

0.96

Correlation (All Time)
Calculated using the full available price history since Nov 4, 2016

0.90

The correlation between IWMO.L and IUMO.L has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

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

Sectors
IWMO.L
IUMO.L

Technology

26.0%
42.9%

Industrials

18.7%
19.2%

Financial Services

13.1%
7.3%

Healthcare

10.7%
9.6%

Energy

10.6%
2.5%

Communication Services

6.8%
6.7%

Basic Materials

6.0%
1.9%

Utilities

3.7%
1.5%

Consumer Cyclical

1.6%
5.1%

Consumer Defensive

1.5%
2.2%

Real Estate

1.4%
1.1%

Technology

IWMO.L
26.0%
IUMO.L
42.9%

Industrials

IWMO.L
18.7%
IUMO.L
19.2%

Financial Services

IWMO.L
13.1%
IUMO.L
7.3%

Healthcare

IWMO.L
10.7%
IUMO.L
9.6%

Energy

IWMO.L
10.6%
IUMO.L
2.5%

Communication Services

IWMO.L
6.8%
IUMO.L
6.7%

Basic Materials

IWMO.L
6.0%
IUMO.L
1.9%

Utilities

IWMO.L
3.7%
IUMO.L
1.5%

Consumer Cyclical

IWMO.L
1.6%
IUMO.L
5.1%

Consumer Defensive

IWMO.L
1.5%
IUMO.L
2.2%

Real Estate

IWMO.L
1.4%
IUMO.L
1.1%

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

iShares Edge MSCI USA Momentum Factor UCITS ETF USD Acc

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
Often compared with IUMO.L:
IUMO.L vs. SPMOIUMO.L vs. CSPX.LIUMO.L vs. CSKR.LIUMO.L vs. SWRD.LIUMO.L vs. R1GB.LIUMO.L vs. VOOIUMO.L vs. GLD

Return for Risk

IWMO.L vs. IUMO.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
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
IUMO.L
IUMO.L Risk / Return Rank: 6868
Overall Rank
IUMO.L Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
IUMO.L Sortino Ratio Rank: 6666
Sortino Ratio Rank
IUMO.L Omega Ratio Rank: 6161
Omega Ratio Rank
IUMO.L Calmar Ratio Rank: 7474
Calmar Ratio Rank
IUMO.L Martin Ratio Rank: 7676
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.

IWMO.L vs. IUMO.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO.L) and iShares Edge MSCI USA Momentum Factor UCITS ETF USD Acc (IUMO.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.

IWMO.LIUMO.LDifference
Sharpe ratioReturn per unit of total volatility
1.85
2.02

-0.17

Sortino ratioReturn per unit of downside risk
2.81
3.00

-0.19

Omega ratioGain probability vs. loss probability

1.34

1.37

-0.03

Calmar ratioReturn relative to maximum drawdown

2.90

3.68

-0.78

Martin ratioReturn relative to average drawdown

12.73

14.44

-1.70

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWMO.L vs. IUMO.L - Sharpe Ratio Comparison

The current IWMO.L Sharpe Ratio is 1.85, which is comparable to the IUMO.L Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of IWMO.L and IUMO.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

IWMO.LIUMO.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.85

2.02

-0.17

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.72

+0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.86

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.80

0.96

-0.16

Drawdowns

IWMO.L vs. IUMO.L - Drawdown Comparison

The maximum IWMO.L drawdown since its inception was -31.52%, smaller than the maximum IUMO.L drawdown of -33.75%. Use the drawdown chart below to compare losses from any high point for IWMO.L and IUMO.L.

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Drawdown Indicators

IWMO.LIUMO.LDifference

Max Drawdown

Largest peak-to-trough decline

-31.52%

-33.75%

+2.23%

Max Drawdown (1Y)

Largest decline over 1 year

-11.61%

-10.60%

-1.01%

Max Drawdown (3Y)

Largest decline over 3 years

-19.40%

-21.01%

+1.61%

Max Drawdown (5Y)

Largest decline over 5 years

-29.63%

-31.98%

+2.35%

Max Drawdown (10Y)

Largest decline over 10 years

-31.52%

—

—

Current Drawdown

Current decline from peak

-0.78%

-1.94%

+1.16%

Average Drawdown

Average peak-to-trough decline

-6.03%

-8.46%

+2.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.65%

2.70%

-0.05%

Volatility

IWMO.L vs. IUMO.L - Volatility Comparison

The current volatility for iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO.L) is 6.56%, while iShares Edge MSCI USA Momentum Factor UCITS ETF USD Acc (IUMO.L) has a volatility of 8.41%. This indicates that IWMO.L experiences smaller price fluctuations and is considered to be less risky than IUMO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWMO.LIUMO.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.56%

8.41%

-1.85%

Volatility (6M)

Calculated over the trailing 6-month period

15.84%

16.63%

-0.79%

Volatility (1Y)

Calculated over the trailing 1-year period

18.21%

19.28%

-1.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.50%

19.58%

-1.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.01%

20.53%

-2.52%

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

IWMO.L has a 0.25% expense ratio, which is higher than IUMO.L's 0.20% 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

IWMO.L vs. IUMO.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

On fees, IUMO.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IUMO.L is cheaper with a 0.20% expense ratio, compared with 0.25% for IWMO.L.

IWMO.L tracks MSCI World Momentum Index, while IUMO.L tracks MSCI USA Momentum Index. Their fees differ too: 0.25% for IWMO.L and 0.20% for IUMO.L.

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