IWSZ.L vs. IUSF.L

Last updated Jul 18, 2026

IWSZ.L (iShares MSCI World Mid-Cap Equal Weight UCITS ETF) and IUSF.L (iShares Edge MSCI USA Size Factor UCITS ETF) are both Mid Cap Blend Equities funds from iShares - IWSZ.L tracks the MSCI World Mid-Cap Equal Weighted Index while IUSF.L tracks the Russell Mid Cap TR USD. Both are passively managed. Over the past 5 years, IWSZ.L returned 6.01%/yr vs 6.59%/yr for IUSF.L. Their correlation of 0.83 suggests significant overlap in exposure. IWSZ.L charges 0.30%/yr vs 0.20%/yr for IUSF.L.

Performance

IWSZ.L vs. IUSF.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI World Mid-Cap Equal Weight UCITS ETF (IWSZ.L) and iShares Edge MSCI USA Size Factor UCITS ETF (IUSF.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, IWSZ.L achieves a 7.23% return, which is significantly lower than IUSF.L's 8.50% return.

IWSZ.L

• 1D: -0.45%
• 1M: -0.02%
• 6M: 4.58%
• YTD: 7.23%
• 1Y: 15.40%
• 3Y*: 12.64%
• 5Y*: 6.01%
• 10Y*: 8.35%

IUSF.L

• 1D: -0.36%
• 1M: 1.52%
• 6M: 5.20%
• YTD: 8.50%
• 1Y: 13.81%
• 3Y*: 11.73%
• 5Y*: 6.59%
• 10Y*: —

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

IWSZ.L vs. IUSF.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWSZ.L iShares MSCI World Mid-Cap Equal Weight UCITS ETF	7.23%	21.40%	5.94%	16.03%	-17.96%	12.56%	10.79%	23.39%	-14.41%	24.35%
IUSF.L iShares Edge MSCI USA Size Factor UCITS ETF	8.50%	8.62%	12.69%	16.63%	-18.35%	26.58%	17.10%	28.91%	-11.18%	18.18%

Correlation

The correlation between IWSZ.L and IUSF.L is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 17, 2016	0.83

The correlation between IWSZ.L and IUSF.L has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

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

Sectors	IWSZ.L	IUSF.L
Industrials	20.4%	16.6%
Financial Services	14.2%	13.5%
Technology	11.7%	18.5%
Consumer Cyclical	11.0%	12.3%
Healthcare	8.7%	10.9%
Basic Materials	7.3%	4.5%
Consumer Defensive	6.8%	5.8%
Utilities	6.4%	6.3%
Real Estate	6.3%	6.4%
Communication Services	3.8%	3.3%
Energy	2.9%	2.0%

Return for Risk

IWSZ.L vs. IUSF.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IWSZ.L

IWSZ.L Risk / Return Rank: 43
IWSZ.L Sharpe Ratio Rank: 43
IWSZ.L Sortino Ratio Rank: 45
IWSZ.L Omega Ratio Rank: 42
IWSZ.L Calmar Ratio Rank: 40
IWSZ.L Martin Ratio Rank: 47

IUSF.L

IUSF.L Risk / Return Rank: 43
IUSF.L Sharpe Ratio Rank: 44
IUSF.L Sortino Ratio Rank: 42
IUSF.L Omega Ratio Rank: 40
IUSF.L Calmar Ratio Rank: 45
IUSF.L Martin Ratio Rank: 44

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.

IWSZ.L vs. IUSF.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Mid-Cap Equal Weight UCITS ETF (IWSZ.L) and iShares Edge MSCI USA Size Factor UCITS ETF (IUSF.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.

	IWSZ.L	IUSF.L	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.17	+0.02
Sortino ratio: Return per unit of downside risk	1.79	1.79	0.00
Omega ratio: Gain probability vs. loss probability	1.22	1.20	+0.02
Calmar ratio: Return relative to maximum drawdown	1.62	1.63	-0.01
Martin ratio: Return relative to average drawdown	6.01	5.95	+0.06

IWSZ.L vs. IUSF.L - Sharpe Ratio Comparison

The current IWSZ.L Sharpe Ratio is 1.20, which is comparable to the IUSF.L Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of IWSZ.L and IUSF.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

IWSZ.L vs. IUSF.L - Drawdown Comparison

The maximum IWSZ.L drawdown since its inception was -38.11%, smaller than the maximum IUSF.L drawdown of -40.80%. Use the drawdown chart below to compare losses from any high point for IWSZ.L and IUSF.L.

Drawdown Indicators

	IWSZ.L	IUSF.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.11%	-40.80%	+2.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.49%	-8.45%	-1.04%
Max Drawdown (3Y) Largest decline over 3 years	-14.12%	-21.22%	+7.10%
Max Drawdown (5Y) Largest decline over 5 years	-30.13%	-26.22%	-3.91%
Max Drawdown (10Y) Largest decline over 10 years	-38.11%	—	—
Current Drawdown Current decline from peak	-0.92%	-1.33%	+0.41%
Average Drawdown Average peak-to-trough decline	-6.81%	-6.18%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	2.32%	+0.24%

Volatility

IWSZ.L vs. IUSF.L - Volatility Comparison

iShares MSCI World Mid-Cap Equal Weight UCITS ETF (IWSZ.L) and iShares Edge MSCI USA Size Factor UCITS ETF (IUSF.L) have volatilities of 3.25% and 3.31%, 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.

Volatility by Period

	IWSZ.L	IUSF.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.25%	3.31%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	10.54%	8.67%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	12.86%	11.94%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.15%	17.61%	-1.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.37%	18.39%	-2.02%

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

IWSZ.L has a 0.30% expense ratio, which is higher than IUSF.L's 0.20% expense ratio.

Dividends

IWSZ.L vs. IUSF.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IWSZ.L and IUSF.L in my portfolio?

IWSZ.L and IUSF.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IWSZ.L or IUSF.L?

On fees, IUSF.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IWSZ.L or IUSF.L?

IUSF.L is cheaper with a 0.20% expense ratio, compared with 0.30% for IWSZ.L.

What is the main difference between IWSZ.L and IUSF.L?

IWSZ.L tracks MSCI World Mid-Cap Equal Weighted Index, while IUSF.L tracks Russell Mid Cap TR USD. Their fees differ too: 0.30% for IWSZ.L and 0.20% for IUSF.L.