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

IWMO.L vs. IWSZ.L

Last updated Jun 5, 2026

IWMO.L (iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)) and IWSZ.L (iShares MSCI World Mid-Cap Equal Weight UCITS ETF) are both exchange-traded funds - IWMO.L is a Momentum fund tracking the MSCI World Momentum Index, while IWSZ.L is a Mid Cap Blend Equities fund tracking the MSCI World Mid-Cap Equal Weighted Index. Both are passively managed. Over the past 10 years, IWMO.L returned 15.58%/yr vs 8.20%/yr for IWSZ.L. A 0.80 correlation means they provide meaningful diversification when combined. IWMO.L charges 0.25%/yr vs 0.30%/yr for IWSZ.L.

Performance

IWMO.L vs. IWSZ.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 Mid-Cap Equal Weight UCITS ETF (IWSZ.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 higher than IWSZ.L's 6.23% return. Over the past 10 years, IWMO.L has outperformed IWSZ.L with an annualized return of 15.58%, while IWSZ.L has yielded a comparatively lower 8.20% annualized 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%

IWSZ.L

1D
0.37%
1M
-0.53%
YTD
6.23%
6M
7.99%
1Y
16.86%
3Y*
14.68%
5Y*
5.43%
10Y*
8.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWMO.L vs. IWSZ.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%
IWSZ.L
iShares MSCI World Mid-Cap Equal Weight UCITS ETF		6.23%21.40%5.93%16.04%-17.96%12.56%10.79%23.39%-14.41%24.35%

Correlation

The correlation between IWMO.L and IWSZ.L is 0.63, 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

0.63

Correlation (3Y)
Calculated over the trailing 3-year period

0.70

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

0.77

Correlation (10Y)
Calculated over the trailing 10-year period

0.79

Correlation (All Time)
Calculated using the full available price history since Oct 7, 2014

0.80

The correlation between IWMO.L and IWSZ.L shifts across timeframes, from 0.63 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.

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

Sectors
IWMO.L
IWSZ.L

Technology

26.0%
11.5%

Industrials

18.7%
21.7%

Financial Services

13.1%
14.1%

Healthcare

10.7%
7.2%

Energy

10.6%
3.8%

Communication Services

6.8%
4.7%

Basic Materials

6.0%
7.1%

Utilities

3.7%
6.5%

Consumer Cyclical

1.6%
9.8%

Consumer Defensive

1.5%
6.6%

Real Estate

1.4%
6.9%

Technology

IWMO.L
26.0%
IWSZ.L
11.5%

Industrials

IWMO.L
18.7%
IWSZ.L
21.7%

Financial Services

IWMO.L
13.1%
IWSZ.L
14.1%

Healthcare

IWMO.L
10.7%
IWSZ.L
7.2%

Energy

IWMO.L
10.6%
IWSZ.L
3.8%

Communication Services

IWMO.L
6.8%
IWSZ.L
4.7%

Basic Materials

IWMO.L
6.0%
IWSZ.L
7.1%

Utilities

IWMO.L
3.7%
IWSZ.L
6.5%

Consumer Cyclical

IWMO.L
1.6%
IWSZ.L
9.8%

Consumer Defensive

IWMO.L
1.5%
IWSZ.L
6.6%

Real Estate

IWMO.L
1.4%
IWSZ.L
6.9%

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

iShares MSCI World Mid-Cap Equal Weight UCITS ETF

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 IWSZ.L:
IWSZ.L vs. JEPQ.LIWSZ.L vs. IWQU.LIWSZ.L vs. IWVL.LIWSZ.L vs. SGLN.LIWSZ.L vs. CNDX.LIWSZ.L vs. MVOL.LIWSZ.L vs. EIMI.L

Return for Risk

IWMO.L vs. IWSZ.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
IWSZ.L
IWSZ.L Risk / Return Rank: 4141
Overall Rank
IWSZ.L Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
IWSZ.L Sortino Ratio Rank: 4444
Sortino Ratio Rank
IWSZ.L Omega Ratio Rank: 4141
Omega Ratio Rank
IWSZ.L Calmar Ratio Rank: 3636
Calmar Ratio Rank
IWSZ.L Martin Ratio Rank: 4242
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. IWSZ.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 Mid-Cap Equal Weight UCITS ETF (IWSZ.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.LIWSZ.LDifference
Sharpe ratioReturn per unit of total volatility
1.85
1.45

+0.40

Sortino ratioReturn per unit of downside risk
2.81
2.16

+0.65

Omega ratioGain probability vs. loss probability

1.34

1.26

+0.08

Calmar ratioReturn relative to maximum drawdown

2.90

1.76

+1.15

Martin ratioReturn relative to average drawdown

12.73

6.67

+6.07

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. IWSZ.L - Sharpe Ratio Comparison

The current IWMO.L Sharpe Ratio is 1.85, which is comparable to the IWSZ.L Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of IWMO.L and IWSZ.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.LIWSZ.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.85

1.45

+0.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.34

+0.40

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.86

0.50

+0.37

Sharpe Ratio (All Time)

Calculated using the full available price history

0.80

0.46

+0.34

Drawdowns

IWMO.L vs. IWSZ.L - Drawdown Comparison

The maximum IWMO.L drawdown since its inception was -31.52%, smaller than the maximum IWSZ.L drawdown of -38.11%. Use the drawdown chart below to compare losses from any high point for IWMO.L and IWSZ.L.

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Drawdown Indicators

IWMO.LIWSZ.LDifference

Max Drawdown

Largest peak-to-trough decline

-31.52%

-38.11%

+6.59%

Max Drawdown (1Y)

Largest decline over 1 year

-11.61%

-9.59%

-2.02%

Max Drawdown (3Y)

Largest decline over 3 years

-19.40%

-14.12%

-5.28%

Max Drawdown (5Y)

Largest decline over 5 years

-29.63%

-30.13%

+0.50%

Max Drawdown (10Y)

Largest decline over 10 years

-31.52%

-38.11%

+6.59%

Current Drawdown

Current decline from peak

-0.78%

-0.96%

+0.18%

Average Drawdown

Average peak-to-trough decline

-6.03%

-6.93%

+0.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.65%

2.53%

+0.12%

Volatility

IWMO.L vs. IWSZ.L - Volatility Comparison

iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO.L) has a higher volatility of 6.56% compared to iShares MSCI World Mid-Cap Equal Weight UCITS ETF (IWSZ.L) at 3.55%. This indicates that IWMO.L's price experiences larger fluctuations and is considered to be riskier than IWSZ.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.LIWSZ.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.56%

3.55%

+3.01%

Volatility (6M)

Calculated over the trailing 6-month period

15.84%

8.91%

+6.93%

Volatility (1Y)

Calculated over the trailing 1-year period

18.21%

11.61%

+6.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.50%

16.01%

+2.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.01%

16.53%

+1.48%

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

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

Dividends

IWMO.L vs. IWSZ.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

IWMO.L and IWSZ.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

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

IWMO.L is categorized as Momentum, while IWSZ.L is Mid Cap Blend Equities. IWMO.L tracks MSCI World Momentum Index, while IWSZ.L tracks MSCI World Mid-Cap Equal Weighted Index. Their fees differ too: 0.25% for IWMO.L and 0.30% for IWSZ.L.

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