IWVL.L vs. SGOV
IWVL.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IWVL.L is a Global Equities fund tracking the MSCI World Enhanced Value Index, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, IWVL.L returned 16.13%/yr vs 3.56%/yr for SGOV. At a correlation of -0.03, they often move in opposite directions. IWVL.L charges 0.25%/yr vs 0.09%/yr for SGOV.
Performance
IWVL.L vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, IWVL.L achieves a 32.97% return, which is significantly higher than SGOV's 1.61% return.
IWVL.L
- 1D
- 3.36%
- 1M
- 6.98%
- YTD
- 32.97%
- 6M
- 35.11%
- 1Y
- 63.09%
- 3Y*
- 28.41%
- 5Y*
- 16.13%
- 10Y*
- 13.36%
SGOV
- 1D
- 0.02%
- 1M
- 0.26%
- YTD
- 1.61%
- 6M
- 1.78%
- 1Y
- 3.91%
- 3Y*
- 4.71%
- 5Y*
- 3.56%
- 10Y*
- —
IWVL.L vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IWVL.L iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) | 32.97% | 40.42% | 5.13% | 19.53% | -9.79% | 20.11% | 18.60% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.61% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between IWVL.L and SGOV is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.03 |
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Return for Risk
IWVL.L vs. SGOV — Risk / Return Rank
IWVL.L
SGOV
IWVL.L vs. SGOV - 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 iShares 0-3 Month Treasury Bond ETF (SGOV). 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 | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -16.45 | ||
| Sortino ratioReturn per unit of downside risk | -270.37 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 195.55 | -193.87 |
| Calmar ratioReturn relative to maximum drawdown | 7.10 | 398.20 | -391.10 |
| Martin ratioReturn relative to average drawdown | 25.90 | 4,461.98 | -4,436.08 |
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Drawdowns
IWVL.L vs. SGOV - Drawdown Comparison
The maximum IWVL.L drawdown since its inception was -39.30%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IWVL.L and SGOV.
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Drawdown Indicators
| IWVL.L | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.30% | -0.03% | -39.27% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -0.01% | -8.73% |
Max Drawdown (3Y)Largest decline over 3 years | -14.46% | -0.01% | -14.45% |
Max Drawdown (5Y)Largest decline over 5 years | -26.55% | -0.03% | -26.52% |
Max Drawdown (10Y)Largest decline over 10 years | -39.30% | — | — |
Current DrawdownCurrent decline from peak | -1.88% | 0.00% | -1.88% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -0.00% | -7.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 0.00% | +2.40% |
Volatility
IWVL.L vs. SGOV - Volatility Comparison
iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L) has a higher volatility of 6.99% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that IWVL.L's price experiences larger fluctuations and is considered to be riskier than SGOV 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 | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.99% | 0.05% | +6.94% |
Volatility (6M)Calculated over the trailing 6-month period | 13.69% | 0.13% | +13.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.20% | 0.20% | +16.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.15% | 0.24% | +15.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.05% | 0.24% | +16.81% |
IWVL.L vs. SGOV - Expense Ratio Comparison
IWVL.L has a 0.25% expense ratio, which is higher than SGOV's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IWVL.L vs. SGOV - Dividend Comparison
IWVL.L has not paid dividends to shareholders, while SGOV's dividend yield for the trailing twelve months is around 3.85%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IWVL.L iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
IWVL.L and SGOV have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGOV is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.25% for IWVL.L.
IWVL.L is categorized as Global Equities, while SGOV is Ultrashort Bond. IWVL.L tracks MSCI World Enhanced Value Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.25% for IWVL.L and 0.09% for SGOV.
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