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

IWMO.L vs. IWFM.L

Last updated Jun 5, 2026

IWMO.L (iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)) and IWFM.L (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) are both Momentum funds from iShares tracking the MSCI World Momentum Index. Both are passively managed. Over the past 10 years, IWMO.L returned 15.58%/yr vs 15.59%/yr for IWFM.L. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

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

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Different Trading Currencies

IWMO.L is traded in USD, while IWFM.L is traded in GBp. To make them comparable, the IWFM.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with IWMO.L having a 21.89% return and IWFM.L slightly lower at 21.83%. Both investments have delivered pretty close results over the past 10 years, with IWMO.L having a 15.58% annualized return and IWFM.L not far ahead at 15.59%.

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%

IWFM.L

1D
-0.81%
1M
8.01%
YTD
21.83%
6M
23.49%
1Y
33.86%
3Y*
29.49%
5Y*
13.63%
10Y*
15.59%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWMO.L vs. IWFM.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%
IWFM.L
iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)		21.84%21.23%30.41%11.44%-18.02%14.53%27.96%28.19%-4.13%31.86%

Correlation

The correlation between IWMO.L and IWFM.L is 0.96 - 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

0.96

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 IWMO.L and IWFM.L has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.

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

Sectors
IWMO.L
IWFM.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

IWMO.L
26.0%
IWFM.L
26.0%

Industrials

IWMO.L
18.7%
IWFM.L
18.7%

Financial Services

IWMO.L
13.1%
IWFM.L
13.1%

Healthcare

IWMO.L
10.7%
IWFM.L
10.7%

Energy

IWMO.L
10.6%
IWFM.L
10.6%

Communication Services

IWMO.L
6.8%
IWFM.L
6.8%

Basic Materials

IWMO.L
6.0%
IWFM.L
6.0%

Utilities

IWMO.L
3.7%
IWFM.L
3.7%

Consumer Cyclical

IWMO.L
1.6%
IWFM.L
1.6%

Consumer Defensive

IWMO.L
1.5%
IWFM.L
1.5%

Real Estate

IWMO.L
1.4%
IWFM.L
1.4%

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

iShares Edge MSCI World Momentum Factor UCITS ETF (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 IWFM.L:
IWFM.L vs. SPMOIWFM.L vs. XDEM.DEIWFM.L vs. IMTMIWFM.L vs. IUMF.LIWFM.L vs. JPGL.LIWFM.L vs. SPYIWFM.L vs. ACWI

Return for Risk

IWMO.L vs. IWFM.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
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
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. IWFM.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 World Momentum Factor UCITS ETF (Acc) (IWFM.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.LIWFM.LDifference
Sharpe ratioReturn per unit of total volatility
1.85
1.90

-0.05

Sortino ratioReturn per unit of downside risk
2.81
2.91

-0.10

Omega ratioGain probability vs. loss probability

1.34

1.34

0.00

Calmar ratioReturn relative to maximum drawdown

2.90

2.88

+0.02

Martin ratioReturn relative to average drawdown

12.73

12.26

+0.48

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. IWFM.L - Sharpe Ratio Comparison

The current IWMO.L Sharpe Ratio is 1.85, which is comparable to the IWFM.L Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of IWMO.L and IWFM.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.LIWFM.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.85

1.90

-0.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.75

-0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.86

0.89

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.80

0.85

-0.05

Drawdowns

IWMO.L vs. IWFM.L - Drawdown Comparison

The maximum IWMO.L drawdown since its inception was -31.52%, roughly equal to the maximum IWFM.L drawdown of -30.82%. Use the drawdown chart below to compare losses from any high point for IWMO.L and IWFM.L.

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Drawdown Indicators

IWMO.LIWFM.LDifference

Max Drawdown

Largest peak-to-trough decline

-31.52%

-30.82%

-0.70%

Max Drawdown (1Y)

Largest decline over 1 year

-11.61%

-11.70%

+0.09%

Max Drawdown (3Y)

Largest decline over 3 years

-19.40%

-19.82%

+0.42%

Max Drawdown (5Y)

Largest decline over 5 years

-29.63%

-30.66%

+1.03%

Max Drawdown (10Y)

Largest decline over 10 years

-31.52%

-30.82%

-0.70%

Current Drawdown

Current decline from peak

-0.78%

-0.81%

+0.03%

Average Drawdown

Average peak-to-trough decline

-6.03%

-6.24%

+0.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.65%

2.75%

-0.10%

Volatility

IWMO.L vs. IWFM.L - Volatility Comparison

iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO.L) and iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWFM.L) have volatilities of 6.56% and 6.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWMO.LIWFM.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.56%

6.33%

+0.23%

Volatility (6M)

Calculated over the trailing 6-month period

15.84%

15.25%

+0.59%

Volatility (1Y)

Calculated over the trailing 1-year period

18.21%

17.71%

+0.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.50%

18.23%

+0.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.01%

17.92%

+0.09%

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

Both IWMO.L and IWFM.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

IWMO.L vs. IWFM.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.96, IWMO.L and IWFM.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.

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

Both ETFs track MSCI World Momentum Index.

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