IWMO.MI vs. ^GSPC
IWMO.MI (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) is Momentum fund tracking the MSCI World Momentum Index, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, IWMO.MI returned 15.80%/yr vs 13.39%/yr for ^GSPC. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
IWMO.MI vs. ^GSPC - Performance Comparison
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Different Trading Currencies
IWMO.MI is traded in EUR, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IWMO.MI achieves a 28.65% return, which is significantly higher than ^GSPC's 11.08% return. Over the past 10 years, IWMO.MI has outperformed ^GSPC with an annualized return of 15.80%, while ^GSPC has yielded a comparatively lower 13.39% annualized return.
IWMO.MI
- 1D
- 0.00%
- 1M
- 7.36%
- YTD
- 28.65%
- 6M
- 28.79%
- 1Y
- 40.03%
- 3Y*
- 28.36%
- 5Y*
- 15.21%
- 10Y*
- 15.80%
^GSPC
- 1D
- 0.00%
- 1M
- 0.10%
- YTD
- 11.08%
- 6M
- 9.96%
- 1Y
- 23.31%
- 3Y*
- 17.45%
- 5Y*
- 12.53%
- 10Y*
- 13.39%
IWMO.MI vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWMO.MI iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 28.65% | 8.04% | 39.23% | 7.91% | -13.96% | 24.82% | 17.08% | 31.14% | 0.40% | 16.05% |
^GSPC S&P 500 Index | 10.85% | 2.58% | 31.45% | 20.51% | -14.45% | 36.38% | 6.68% | 31.79% | -1.84% | 4.74% |
Correlation
The correlation between IWMO.MI and ^GSPC is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2015 | 0.51 |
The correlation between IWMO.MI and ^GSPC has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.
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Return for Risk
IWMO.MI vs. ^GSPC — Risk / Return Rank
IWMO.MI
^GSPC
IWMO.MI vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI) and S&P 500 Index (^GSPC). 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.MI | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.34 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.47 | 3.10 | +1.38 |
| Martin ratioReturn relative to average drawdown | 17.06 | 11.44 | +5.62 |
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Drawdowns
IWMO.MI vs. ^GSPC - Drawdown Comparison
The maximum IWMO.MI drawdown since its inception was -31.03%, smaller than the maximum ^GSPC drawdown of -51.62%. Use the drawdown chart below to compare losses from any high point for IWMO.MI and ^GSPC.
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Drawdown Indicators
| IWMO.MI | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.03% | -51.62% | +20.59% |
Max Drawdown (1Y)Largest decline over 1 year | -9.04% | -7.57% | -1.47% |
Max Drawdown (3Y)Largest decline over 3 years | -23.45% | -23.99% | +0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -23.45% | -23.99% | +0.54% |
Max Drawdown (10Y)Largest decline over 10 years | -31.03% | -33.42% | +2.39% |
Current DrawdownCurrent decline from peak | -1.23% | -1.08% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -9.08% | +3.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.36% | 2.04% | +0.32% |
Volatility
IWMO.MI vs. ^GSPC - Volatility Comparison
iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI) has a higher volatility of 7.01% compared to S&P 500 Index (^GSPC) at 3.97%. This indicates that IWMO.MI's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWMO.MI | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.01% | 3.97% | +3.04% |
Volatility (6M)Calculated over the trailing 6-month period | 15.15% | 9.16% | +5.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.06% | 12.59% | +5.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.52% | 16.85% | +0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.66% | 18.61% | -0.95% |
Frequently Asked Questions
IWMO.MI and ^GSPC have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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