IWMO.L vs. IWFQ.L

Last updated Jun 16, 2026

IWMO.L (iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)) and IWFQ.L (iShares MSCI World Quality Factor UCITS) are both exchange-traded funds - IWMO.L is a Momentum fund tracking the MSCI World Momentum Index, while IWFQ.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, IWMO.L returned 16.06%/yr vs 12.76%/yr for IWFQ.L. Their correlation of 0.80 suggests significant overlap in exposure. IWMO.L charges 0.25%/yr vs 0.30%/yr for IWFQ.L.

Performance

IWMO.L vs. IWFQ.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 MSCI World Quality Factor UCITS (IWFQ.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, IWMO.L achieves a 24.84% return, which is significantly higher than IWFQ.L's 9.67% return. Over the past 10 years, IWMO.L has outperformed IWFQ.L with an annualized return of 16.06%, while IWFQ.L has yielded a comparatively lower 12.76% annualized return.

IWMO.L

• 1D: 1.96%
• 1M: 7.72%
• YTD: 24.84%
• 6M: 26.37%
• 1Y: 38.12%
• 3Y*: 28.87%
• 5Y*: 14.24%
• 10Y*: 16.06%

IWFQ.L

• 1D: 0.98%
• 1M: 3.27%
• YTD: 9.67%
• 6M: 10.55%
• 1Y: 22.66%
• 3Y*: 17.40%
• 5Y*: 10.53%
• 10Y*: 12.76%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWMO.L iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)	24.84%	21.04%	30.50%	11.96%	-17.97%	14.13%	28.58%	27.14%	-3.85%	32.09%
IWFQ.L iShares MSCI World Quality Factor UCITS	9.67%	15.51%	16.94%	25.44%	-19.22%	24.04%	14.33%	30.91%	-7.87%	23.17%

Correlation

The correlation between IWMO.L and IWFQ.L is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Oct 6, 2014	0.80

The correlation between IWMO.L and IWFQ.L has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.

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

Sectors	IWMO.L	IWFQ.L
Technology	26.0%	32.0%
Industrials	18.7%	10.4%
Financial Services	13.1%	14.3%
Healthcare	10.7%	8.6%
Energy	10.6%	4.0%
Communication Services	6.8%	9.3%
Basic Materials	6.0%	3.4%
Utilities	3.7%	2.5%
Consumer Cyclical	1.6%	9.1%
Consumer Defensive	1.5%	4.8%
Real Estate	1.4%	1.6%

Return for Risk

IWMO.L vs. IWFQ.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: 72
IWMO.L Sharpe Ratio Rank: 67
IWMO.L Sortino Ratio Rank: 74
IWMO.L Omega Ratio Rank: 67
IWMO.L Calmar Ratio Rank: 71
IWMO.L Martin Ratio Rank: 79

IWFQ.L

IWFQ.L Risk / Return Rank: 81
IWFQ.L Sharpe Ratio Rank: 83
IWFQ.L Sortino Ratio Rank: 85
IWFQ.L Omega Ratio Rank: 84
IWFQ.L Calmar Ratio Rank: 73
IWFQ.L Martin Ratio Rank: 81

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. IWFQ.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 MSCI World Quality Factor UCITS (IWFQ.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IWMO.L	IWFQ.L	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.03	-0.03
Sortino ratio: Return per unit of downside risk	2.99	3.09	-0.10
Omega ratio: Gain probability vs. loss probability	1.36	1.36	+0.01
Calmar ratio: Return relative to maximum drawdown	3.27	2.53	+0.73
Martin ratio: Return relative to average drawdown	14.00	10.89	+3.12

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

The current IWMO.L Sharpe Ratio is 2.00, which is comparable to the IWFQ.L Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of IWMO.L and IWFQ.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.

Drawdowns

IWMO.L vs. IWFQ.L - Drawdown Comparison

The maximum IWMO.L drawdown since its inception was -31.52%, smaller than the maximum IWFQ.L drawdown of -41.23%. Use the drawdown chart below to compare losses from any high point for IWMO.L and IWFQ.L.

Drawdown Indicators

	IWMO.L	IWFQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.52%	-41.23%	+9.71%
Max Drawdown (1Y) Largest decline over 1 year	-11.61%	-8.90%	-2.71%
Max Drawdown (3Y) Largest decline over 3 years	-19.40%	-19.07%	-0.33%
Max Drawdown (5Y) Largest decline over 5 years	-29.63%	-28.30%	-1.33%
Max Drawdown (10Y) Largest decline over 10 years	-31.52%	-32.13%	+0.61%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.02%	-14.26%	+8.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	2.07%	+0.64%

Volatility

IWMO.L vs. IWFQ.L - Volatility Comparison

iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO.L) has a higher volatility of 7.70% compared to iShares MSCI World Quality Factor UCITS (IWFQ.L) at 2.83%. This indicates that IWMO.L's price experiences larger fluctuations and is considered to be riskier than IWFQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWMO.L	IWFQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.70%	2.83%	+4.87%
Volatility (6M) Calculated over the trailing 6-month period	16.77%	8.62%	+8.15%
Volatility (1Y) Calculated over the trailing 1-year period	19.02%	11.16%	+7.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.67%	20.54%	-1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.09%	18.24%	-0.15%

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

IWMO.L has a 0.25% expense ratio, which is lower than IWFQ.L's 0.30% expense ratio.

Dividends

IWMO.L vs. IWFQ.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IWMO.L and IWFQ.L in my portfolio?

IWMO.L and IWFQ.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IWMO.L or IWFQ.L?

On fees, IWMO.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, IWMO.L or IWFQ.L?

IWMO.L is cheaper with a 0.25% expense ratio, compared with 0.30% for IWFQ.L.

What is the main difference between IWMO.L and IWFQ.L?

IWMO.L is categorized as Momentum, while IWFQ.L is Global Equities. IWMO.L tracks MSCI World Momentum Index, while IWFQ.L tracks MSCI ACWI NR USD. Their fees differ too: 0.25% for IWMO.L and 0.30% for IWFQ.L.