IWVG.L vs. IWDE.L

Last updated Jun 4, 2026

IWVG.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)) and IWDE.L (iShares MSCI World EUR Hedged UCITS ETF (Acc)) are both Global Equities funds from iShares - IWVG.L tracks the MSCI ACWI Value NR USD while IWDE.L tracks the MSCI World 100% Hedged to EUR Index. Both are passively managed. Over the past 5 years, IWVG.L returned 16.67%/yr vs 10.69%/yr for IWDE.L. A 0.78 correlation means they provide meaningful diversification when combined. IWVG.L charges 0.30%/yr vs 0.55%/yr for IWDE.L.

Performance

IWVG.L vs. IWDE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L) and iShares MSCI World EUR Hedged UCITS ETF (Acc) (IWDE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IWVG.L is traded in GBP, while IWDE.L is traded in EUR. To make them comparable, the IWDE.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 IWDE.L's 8.10% 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*: —

IWDE.L

• 1D: -0.46%
• 1M: 4.21%
• YTD: 8.10%
• 6M: 8.88%
• 1Y: 27.51%
• 3Y*: 18.61%
• 5Y*: 10.69%
• 10Y*: 12.42%

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

IWVG.L vs. IWDE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IWVG.L iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)	35.18%	27.50%	5.20%	13.05%	1.04%	21.47%	-6.83%	14.46%	-8.49%
IWDE.L iShares MSCI World EUR Hedged UCITS ETF (Acc)	8.10%	22.62%	14.31%	18.71%	-14.14%	16.10%	17.79%	16.63%	-8.68%

Correlation

The correlation between IWVG.L and IWDE.L is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Feb 28, 2018	0.78

The correlation between IWVG.L and IWDE.L has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.

IWVG.L vs. IWDE.L - Sectors Allocation Comparison

Sectors	IWVG.L	IWDE.L
Technology	33.9%	38.7%
Financial Services	14.8%	13.0%
Industrials	11.3%	6.6%
Healthcare	8.8%	8.8%
Consumer Cyclical	7.9%	8.8%
Communication Services	7.6%	11.0%
Consumer Defensive	4.5%	4.6%
Energy	3.8%	3.1%
Basic Materials	3.0%	1.6%
Utilities	2.5%	1.5%
Real Estate	1.8%	0.8%

Return for Risk

IWVG.L vs. IWDE.L — Risk / Return Rank

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

IWVG.L

IWVG.L Risk / Return Rank: 97
IWVG.L Sharpe Ratio Rank: 97
IWVG.L Sortino Ratio Rank: 97
IWVG.L Omega Ratio Rank: 97
IWVG.L Calmar Ratio Rank: 96
IWVG.L Martin Ratio Rank: 96

IWDE.L

IWDE.L Risk / Return Rank: 66
IWDE.L Sharpe Ratio Rank: 64
IWDE.L Sortino Ratio Rank: 68
IWDE.L Omega Ratio Rank: 66
IWDE.L Calmar Ratio Rank: 63
IWDE.L Martin Ratio Rank: 71

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.

IWVG.L vs. IWDE.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 iShares MSCI World EUR Hedged UCITS ETF (Acc) (IWDE.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	IWDE.L	Difference
Sharpe ratio Return per unit of total volatility	4.78	2.42	+2.36
Sortino ratio Return per unit of downside risk	6.40	3.47	+2.93
Omega ratio Gain probability vs. loss probability	1.90	1.44	+0.47
Calmar ratio Return relative to maximum drawdown	9.08	3.31	+5.77
Martin ratio Return relative to average drawdown	33.80	13.70	+20.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWVG.L vs. IWDE.L - Sharpe Ratio Comparison

The current IWVG.L Sharpe Ratio is 4.78, which is higher than the IWDE.L Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of IWVG.L and IWDE.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.

Sharpe Ratios by Period

	IWVG.L	IWDE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.78	2.42	+2.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.28	0.72	+0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.66	+0.08

Drawdowns

IWVG.L vs. IWDE.L - Drawdown Comparison

The maximum IWVG.L drawdown since its inception was -28.07%, which is greater than IWDE.L's maximum drawdown of -26.24%. Use the drawdown chart below to compare losses from any high point for IWVG.L and IWDE.L.

Drawdown Indicators

	IWVG.L	IWDE.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.07%	-26.24%	-1.83%
Max Drawdown (1Y) Largest decline over 1 year	-7.02%	-8.28%	+1.26%
Max Drawdown (3Y) Largest decline over 3 years	-13.79%	-15.66%	+1.87%
Max Drawdown (5Y) Largest decline over 5 years	-13.79%	-22.14%	+8.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.24%	—
Current Drawdown Current decline from peak	0.00%	-0.46%	+0.46%
Average Drawdown Average peak-to-trough decline	-4.31%	-5.05%	+0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	2.00%	-0.11%

Volatility

IWVG.L vs. IWDE.L - Volatility Comparison

iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L) has a higher volatility of 5.65% compared to iShares MSCI World EUR Hedged UCITS ETF (Acc) (IWDE.L) at 3.35%. This indicates that IWVG.L's price experiences larger fluctuations and is considered to be riskier than IWDE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWVG.L	IWDE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	3.35%	+2.30%
Volatility (6M) Calculated over the trailing 6-month period	10.92%	8.63%	+2.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.35%	11.32%	+2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.07%	14.87%	-1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.57%	15.63%	-0.06%

IWVG.L vs. IWDE.L - Expense Ratio Comparison

IWVG.L has a 0.30% expense ratio, which is lower than IWDE.L's 0.55% expense ratio.

Dividends

IWVG.L vs. IWDE.L - Dividend Comparison

Neither IWVG.L nor IWDE.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IWDE.L iShares MSCI World EUR Hedged UCITS ETF (Acc)	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

Can I hold both IWVG.L and IWDE.L in my portfolio?

IWVG.L and IWDE.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IWVG.L or IWDE.L?

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.

Which ETF is cheaper, IWVG.L or IWDE.L?

IWVG.L is cheaper with a 0.30% expense ratio, compared with 0.55% for IWDE.L.

What is the main difference between IWVG.L and IWDE.L?

IWVG.L tracks MSCI ACWI Value NR USD, while IWDE.L tracks MSCI World 100% Hedged to EUR Index. Their fees differ too: 0.30% for IWVG.L and 0.55% for IWDE.L.