IWVG.L vs. AVGC.L
IWVG.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)) and AVGC.L (Avantis Global Equity UCITS ETF USD Accumulating) are both Global Equities funds - IWVG.L tracks the MSCI ACWI Value NR USD while AVGC.L tracks the MSCI World IMI Index. Both are passively managed. Over the past year, IWVG.L returned 64.08% vs 32.11% for AVGC.L. A 0.78 correlation means they provide meaningful diversification when combined. IWVG.L charges 0.30%/yr vs 0.35%/yr for AVGC.L.
Performance
IWVG.L vs. AVGC.L - Performance Comparison
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Different Trading Currencies
IWVG.L is traded in GBP, while AVGC.L is traded in USD. To make them comparable, the AVGC.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IWVG.L achieves a 35.18% return, which is significantly higher than AVGC.L's 13.58% return.
IWVG.L
- 1D
- 0.11%
- 1M
- 16.54%
- YTD
- 35.18%
- 6M
- 37.33%
- 1Y
- 64.08%
- 3Y*
- 25.61%
- 5Y*
- 16.67%
- 10Y*
- —
AVGC.L
- 1D
- -0.06%
- 1M
- 4.81%
- YTD
- 13.58%
- 6M
- 14.58%
- 1Y
- 32.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWVG.L vs. AVGC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IWVG.L iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) | 35.18% | 26.93% |
AVGC.L Avantis Global Equity UCITS ETF USD Accumulating | 13.58% | 24.84% |
Correlation
The correlation between IWVG.L and AVGC.L is 0.78, 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 | 0.78 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025 | 0.78 |
The correlation between IWVG.L and AVGC.L has been stable across timeframes, ranging from 0.78 to 0.78 - a consistent structural relationship.
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Return for Risk
IWVG.L vs. AVGC.L — Risk / Return Rank
IWVG.L
AVGC.L
IWVG.L vs. AVGC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L) and Avantis Global Equity UCITS ETF USD Accumulating (AVGC.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.
| IWVG.L | AVGC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.99 | ||
| Sortino ratioReturn per unit of downside risk | +2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.90 | 1.52 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 9.08 | 5.22 | +3.86 |
| Martin ratioReturn relative to average drawdown | 33.80 | 19.61 | +14.19 |
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
| IWVG.L | AVGC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.78 | 2.79 | +1.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 3.12 | -2.39 |
Drawdowns
IWVG.L vs. AVGC.L - Drawdown Comparison
The maximum IWVG.L drawdown since its inception was -28.07%, which is greater than AVGC.L's maximum drawdown of -6.12%. Use the drawdown chart below to compare losses from any high point for IWVG.L and AVGC.L.
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Drawdown Indicators
| IWVG.L | AVGC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.07% | -6.12% | -21.95% |
Max Drawdown (1Y)Largest decline over 1 year | -7.02% | -6.12% | -0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -13.79% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.79% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.06% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -4.31% | -0.92% | -3.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 1.63% | +0.26% |
Volatility
IWVG.L vs. AVGC.L - Volatility Comparison
iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L) has a higher volatility of 5.65% compared to Avantis Global Equity UCITS ETF USD Accumulating (AVGC.L) at 3.62%. This indicates that IWVG.L's price experiences larger fluctuations and is considered to be riskier than AVGC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWVG.L | AVGC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.65% | 3.62% | +2.03% |
Volatility (6M)Calculated over the trailing 6-month period | 10.92% | 8.86% | +2.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.35% | 11.49% | +1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.07% | 12.00% | +1.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.57% | 12.00% | +3.57% |
IWVG.L vs. AVGC.L - Expense Ratio Comparison
IWVG.L has a 0.30% expense ratio, which is lower than AVGC.L's 0.35% expense ratio.
Dividends
IWVG.L vs. AVGC.L - Dividend Comparison
Neither IWVG.L nor AVGC.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AVGC.L Avantis Global Equity UCITS ETF USD Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IWVG.L iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) | 0.00% | 0.00% | 1.82% | 3.23% | 3.12% | 2.61% | 2.37% | 2.90% | 2.48% |
Frequently Asked Questions
IWVG.L and AVGC.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IWVG.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWVG.L is cheaper with a 0.30% expense ratio, compared with 0.35% for AVGC.L.
IWVG.L tracks MSCI ACWI Value NR USD, while AVGC.L tracks MSCI World IMI Index. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.30% for IWVG.L and 0.35% for AVGC.L.
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