IWVL.L vs. FGBL.L
IWVL.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)) and FGBL.L (First Trust Global Equity Income UCITS ETF Class A USD (Acc)) are both exchange-traded funds - IWVL.L is a Global Equities fund tracking the MSCI World Enhanced Value Index, while FGBL.L is a Dividend fund tracking the Nasdaq Global High Equity Income NTR Index. Both are passively managed. Over the past 10 years, IWVL.L returned 12.31%/yr vs 9.57%/yr for FGBL.L. A 0.79 correlation means they provide meaningful diversification when combined. IWVL.L charges 0.25%/yr vs 0.60%/yr for FGBL.L.
Performance
IWVL.L vs. FGBL.L - Performance Comparison
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Different Trading Currencies
IWVL.L is traded in USD, while FGBL.L is traded in GBp. To make them comparable, the FGBL.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IWVL.L achieves a 27.44% return, which is significantly higher than FGBL.L's 13.70% return. Over the past 10 years, IWVL.L has outperformed FGBL.L with an annualized return of 12.31%, while FGBL.L has yielded a comparatively lower 9.57% annualized return.
IWVL.L
- 1D
- -0.51%
- 1M
- -5.00%
- 6M
- 23.16%
- YTD
- 27.44%
- 1Y
- 54.19%
- 3Y*
- 25.54%
- 5Y*
- 16.15%
- 10Y*
- 12.31%
FGBL.L
- 1D
- 0.04%
- 1M
- 2.28%
- 6M
- 11.33%
- YTD
- 13.70%
- 1Y
- 30.09%
- 3Y*
- 20.99%
- 5Y*
- 12.40%
- 10Y*
- 9.57%
IWVL.L vs. FGBL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWVL.L iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) | 27.44% | 40.42% | 5.13% | 19.53% | -9.79% | 20.11% | -3.67% | 18.13% | -14.03% | 22.60% |
FGBL.L First Trust Global Equity Income UCITS ETF Class A USD (Acc) | 13.70% | 40.36% | 4.45% | 17.02% | -7.46% | 9.79% | -6.04% | 15.46% | -11.25% | 22.54% |
Correlation
The correlation between IWVL.L and FGBL.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Aug 28, 2015 | 0.79 |
The correlation between IWVL.L and FGBL.L shifts across timeframes, from 0.61 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IWVL.L vs. FGBL.L — Risk / Return Rank
IWVL.L
FGBL.L
IWVL.L vs. FGBL.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 (Acc) (IWVL.L) and First Trust Global Equity Income UCITS ETF Class A USD (Acc) (FGBL.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.
| IWVL.L | FGBL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.47 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 6.17 | 3.97 | +2.20 |
| Martin ratioReturn relative to average drawdown | 20.77 | 13.85 | +6.92 |
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Drawdowns
IWVL.L vs. FGBL.L - Drawdown Comparison
The maximum IWVL.L drawdown since its inception was -39.30%, smaller than the maximum FGBL.L drawdown of -45.40%. Use the drawdown chart below to compare losses from any high point for IWVL.L and FGBL.L.
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Drawdown Indicators
| IWVL.L | FGBL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.30% | -45.40% | +6.10% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -7.55% | -1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -14.46% | -13.56% | -0.90% |
Max Drawdown (5Y)Largest decline over 5 years | -26.55% | -26.59% | +0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -39.30% | -39.54% | +0.24% |
Current DrawdownCurrent decline from peak | -5.96% | -0.11% | -5.85% |
Average DrawdownAverage peak-to-trough decline | -7.44% | -16.25% | +8.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 2.17% | +0.43% |
Volatility
IWVL.L vs. FGBL.L - Volatility Comparison
iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L) has a higher volatility of 6.01% compared to First Trust Global Equity Income UCITS ETF Class A USD (Acc) (FGBL.L) at 2.41%. This indicates that IWVL.L's price experiences larger fluctuations and is considered to be riskier than FGBL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWVL.L | FGBL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.01% | 2.41% | +3.60% |
Volatility (6M)Calculated over the trailing 6-month period | 14.90% | 8.74% | +6.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.03% | 11.14% | +5.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 14.68% | +1.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 15.64% | +1.26% |
IWVL.L vs. FGBL.L - Expense Ratio Comparison
IWVL.L has a 0.25% expense ratio, which is lower than FGBL.L's 0.60% expense ratio.
Dividends
IWVL.L vs. FGBL.L - Dividend Comparison
Neither IWVL.L nor FGBL.L has paid dividends to shareholders.
Frequently Asked Questions
IWVL.L and FGBL.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IWVL.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWVL.L is cheaper with a 0.25% expense ratio, compared with 0.60% for FGBL.L.
IWVL.L is categorized as Global Equities, while FGBL.L is Dividend. IWVL.L tracks MSCI World Enhanced Value Index, while FGBL.L tracks Nasdaq Global High Equity Income NTR Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.25% for IWVL.L and 0.60% for FGBL.L.
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