IWVL.L vs. IQCY.L

Last updated Jun 24, 2026

IWVL.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)) and IQCY.L (Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc) are both Global Equities funds - IWVL.L tracks the MSCI World Enhanced Value Index while IQCY.L tracks the MSCI ACWI SMID NR USD. Both are passively managed. Over the past 5 years, IWVL.L returned 16.46%/yr vs 46.12%/yr for IQCY.L. A 0.68 correlation means they provide meaningful diversification when combined. IWVL.L charges 0.25%/yr vs 0.45%/yr for IQCY.L.

Performance

IWVL.L vs. IQCY.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 (Acc) (IWVL.L) and Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc (IQCY.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IWVL.L is traded in USD, while IQCY.L is traded in GBP. To make them comparable, the IQCY.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 31.49% return, which is significantly higher than IQCY.L's 26.68% return.

IWVL.L

• 1D: -2.65%
• 1M: 2.46%
• YTD: 31.49%
• 6M: 32.00%
• 1Y: 63.07%
• 3Y*: 28.82%
• 5Y*: 16.46%
• 10Y*: 13.18%

IQCY.L

• 1D: -4.08%
• 1M: 1.84%
• YTD: 26.68%
• 6M: 25.96%
• 1Y: 44.77%
• 3Y*: 95.15%
• 5Y*: 46.12%
• 10Y*: —

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

IWVL.L vs. IQCY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IWVL.L iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)	31.49%	40.42%	5.13%	19.53%	-9.79%	20.11%	26.83%
IQCY.L Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc	26.68%	22.73%	335.42%	24.02%	-25.83%	-14.56%	68.37%

Correlation

The correlation between IWVL.L and IQCY.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 (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Apr 20, 2020	0.68

The correlation between IWVL.L and IQCY.L shifts across timeframes, from 0.68 (all time) to 0.78 (1 year), reflecting how their relationship changes across market environments.

IWVL.L vs. IQCY.L - Sectors Allocation Comparison

Sectors	IWVL.L	IQCY.L
Technology	33.2%	50.7%
Financial Services	14.3%	0.5%
Industrials	11.4%	41.6%
Consumer Cyclical	9.2%	0.8%
Communication Services	8.3%	2.5%
Healthcare	8.1%	0.1%
Consumer Defensive	4.8%	0.0%
Energy	3.8%	0.0%
Basic Materials	2.9%	1.3%
Utilities	2.4%	2.7%
Real Estate	1.7%	0.0%

Return for Risk

IWVL.L vs. IQCY.L — Risk / Return Rank

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

IWVL.L

IWVL.L Risk / Return Rank: 95
IWVL.L Sharpe Ratio Rank: 96
IWVL.L Sortino Ratio Rank: 96
IWVL.L Omega Ratio Rank: 95
IWVL.L Calmar Ratio Rank: 95
IWVL.L Martin Ratio Rank: 94

IQCY.L

IQCY.L Risk / Return Rank: 87
IQCY.L Sharpe Ratio Rank: 90
IQCY.L Sortino Ratio Rank: 89
IQCY.L Omega Ratio Rank: 87
IQCY.L Calmar Ratio Rank: 90
IQCY.L Martin Ratio Rank: 81

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.

IWVL.L vs. IQCY.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 Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc (IQCY.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	IQCY.L	Difference
Sharpe ratio: Return per unit of total volatility	3.82	2.35	+1.46
Sortino ratio: Return per unit of downside risk	5.22	3.26	+1.96
Omega ratio: Gain probability vs. loss probability	1.68	1.41	+0.27
Calmar ratio: Return relative to maximum drawdown	7.18	3.94	+3.24
Martin ratio: Return relative to average drawdown	26.17	13.62	+12.55

IWVL.L vs. IQCY.L - Sharpe Ratio Comparison

The current IWVL.L Sharpe Ratio is 3.82, which is higher than the IQCY.L Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of IWVL.L and IQCY.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

IWVL.L vs. IQCY.L - Drawdown Comparison

The maximum IWVL.L drawdown since its inception was -39.30%, smaller than the maximum IQCY.L drawdown of -47.82%. Use the drawdown chart below to compare losses from any high point for IWVL.L and IQCY.L.

Drawdown Indicators

	IWVL.L	IQCY.L	Difference
Max Drawdown Largest peak-to-trough decline	-39.30%	-47.82%	+8.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.74%	-11.30%	+2.56%
Max Drawdown (3Y) Largest decline over 3 years	-14.46%	-20.88%	+6.42%
Max Drawdown (5Y) Largest decline over 5 years	-26.55%	-33.10%	+6.55%
Max Drawdown (10Y) Largest decline over 10 years	-39.30%	—	—
Current Drawdown Current decline from peak	-2.97%	-4.08%	+1.11%
Average Drawdown Average peak-to-trough decline	-7.46%	-20.23%	+12.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	3.28%	-0.88%

Volatility

IWVL.L vs. IQCY.L - Volatility Comparison

The current volatility for iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L) is 6.51%, while Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc (IQCY.L) has a volatility of 8.35%. This indicates that IWVL.L experiences smaller price fluctuations and is considered to be less risky than IQCY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWVL.L	IQCY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.51%	8.35%	-1.84%
Volatility (6M) Calculated over the trailing 6-month period	14.01%	15.47%	-1.46%
Volatility (1Y) Calculated over the trailing 1-year period	16.45%	18.93%	-2.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.17%	133.19%	-117.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	159.67%	-142.73%

IWVL.L vs. IQCY.L - Expense Ratio Comparison

IWVL.L has a 0.25% expense ratio, which is lower than IQCY.L's 0.45% expense ratio.

Dividends

IWVL.L vs. IQCY.L - Dividend Comparison

Neither IWVL.L nor IQCY.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IWVL.L and IQCY.L in my portfolio?

IWVL.L and IQCY.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.

Which ETF is better, IWVL.L or IQCY.L?

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.

Which ETF is cheaper, IWVL.L or IQCY.L?

IWVL.L is cheaper with a 0.25% expense ratio, compared with 0.45% for IQCY.L.

What is the main difference between IWVL.L and IQCY.L?

IWVL.L tracks MSCI World Enhanced Value Index, while IQCY.L tracks MSCI ACWI SMID NR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.25% for IWVL.L and 0.45% for IQCY.L.