IWMO.MI vs. XMMO
IWMO.MI (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) and XMMO (Invesco S&P MidCap Momentum ETF) are both Momentum funds - IWMO.MI tracks the MSCI World Momentum Index while XMMO tracks the S&P MidCap 400 Momentum Index. Both are passively managed. Over the past 10 years, IWMO.MI returned 15.31%/yr vs 19.41%/yr for XMMO. A 0.50 correlation means they provide meaningful diversification when combined. IWMO.MI charges 0.25%/yr vs 0.35%/yr for XMMO.
Performance
IWMO.MI vs. XMMO - Performance Comparison
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Different Trading Currencies
IWMO.MI is traded in EUR, while XMMO is traded in USD. To make them comparable, the XMMO 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 22.51% return, which is significantly lower than XMMO's 25.66% return. Over the past 10 years, IWMO.MI has underperformed XMMO with an annualized return of 15.31%, while XMMO has yielded a comparatively higher 19.41% annualized return.
IWMO.MI
- 1D
- -0.90%
- 1M
- 8.73%
- YTD
- 22.51%
- 6M
- 23.74%
- 1Y
- 31.60%
- 3Y*
- 26.15%
- 5Y*
- 14.68%
- 10Y*
- 15.31%
XMMO
- 1D
- 0.28%
- 1M
- 6.23%
- YTD
- 25.66%
- 6M
- 24.75%
- 1Y
- 35.72%
- 3Y*
- 29.04%
- 5Y*
- 17.88%
- 10Y*
- 19.41%
IWMO.MI vs. XMMO - 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) | 22.51% | 8.04% | 39.23% | 7.91% | -13.96% | 24.82% | 17.08% | 31.14% | 0.40% | 16.05% |
XMMO Invesco S&P MidCap Momentum ETF | 25.66% | -0.37% | 47.14% | 16.78% | -10.81% | 25.42% | 18.52% | 39.87% | 11.10% | 20.33% |
Correlation
The correlation between IWMO.MI and XMMO is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015 | 0.50 |
The correlation between IWMO.MI and XMMO has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.
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Return for Risk
IWMO.MI vs. XMMO — Risk / Return Rank
IWMO.MI
XMMO
IWMO.MI vs. XMMO - 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 Invesco S&P MidCap Momentum ETF (XMMO). 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.MI | XMMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.33 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 5.51 | -2.01 |
| Martin ratioReturn relative to average drawdown | 13.36 | 16.70 | -3.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IWMO.MI | XMMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 1.94 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.85 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.90 | 0.87 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 0.58 | +0.22 |
Drawdowns
IWMO.MI vs. XMMO - Drawdown Comparison
The maximum IWMO.MI drawdown since its inception was -31.03%, smaller than the maximum XMMO drawdown of -48.90%. Use the drawdown chart below to compare losses from any high point for IWMO.MI and XMMO.
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Drawdown Indicators
| IWMO.MI | XMMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.03% | -48.90% | +17.87% |
Max Drawdown (1Y)Largest decline over 1 year | -9.04% | -6.52% | -2.52% |
Max Drawdown (3Y)Largest decline over 3 years | -23.45% | -28.44% | +4.99% |
Max Drawdown (5Y)Largest decline over 5 years | -23.45% | -28.44% | +4.99% |
Max Drawdown (10Y)Largest decline over 10 years | -31.03% | -36.28% | +5.25% |
Current DrawdownCurrent decline from peak | -0.90% | 0.00% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -9.80% | +3.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 2.14% | +0.23% |
Volatility
IWMO.MI vs. XMMO - Volatility Comparison
The current volatility for iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI) is 5.79%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 7.14%. This indicates that IWMO.MI experiences smaller price fluctuations and is considered to be less risky than XMMO 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 | XMMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.79% | 7.14% | -1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 14.18% | 14.75% | -0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.87% | 18.50% | -1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.29% | 21.03% | -3.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.60% | 22.50% | -4.90% |
IWMO.MI vs. XMMO - Expense Ratio Comparison
IWMO.MI has a 0.25% expense ratio, which is lower than XMMO's 0.35% expense ratio.
Dividends
IWMO.MI vs. XMMO - Dividend Comparison
IWMO.MI has not paid dividends to shareholders, while XMMO's dividend yield for the trailing twelve months is around 0.60%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWMO.MI iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XMMO Invesco S&P MidCap Momentum ETF | 0.60% | 0.78% | 0.34% | 0.80% | 1.43% | 0.41% | 0.61% | 0.60% | 0.19% | 0.21% | 0.22% | 0.64% |
Frequently Asked Questions
IWMO.MI and XMMO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IWMO.MI is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWMO.MI is cheaper with a 0.25% expense ratio, compared with 0.35% for XMMO.
IWMO.MI tracks MSCI World Momentum Index, while XMMO tracks S&P MidCap 400 Momentum Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for IWMO.MI and 0.35% for XMMO.
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