MIDD.L vs. USD=X
MIDD.L (iShares FTSE 250 UCITS ETF) is Europe Equities fund tracking the FTSE 250 Ex Investment Trust TR GBP, while USD=X (USD Cash) is a currency. Over the past 10 years, MIDD.L returned 5.54%/yr vs 0.85%/yr for USD=X. At a correlation of -0.11, they often move in opposite directions.
Performance
MIDD.L vs. USD=X - Performance Comparison
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Different Trading Currencies
MIDD.L is traded in GBp, while USD=X is traded in USD. To make them comparable, the USD=X values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, MIDD.L achieves a 5.26% return, which is significantly higher than USD=X's 1.01% return. Over the past 10 years, MIDD.L has outperformed USD=X with an annualized return of 5.54%, while USD=X has yielded a comparatively lower 0.85% annualized return.
MIDD.L
- 1D
- 0.56%
- 1M
- 2.38%
- YTD
- 5.26%
- 6M
- 7.25%
- 1Y
- 13.88%
- 3Y*
- 9.96%
- 5Y*
- 3.14%
- 10Y*
- 5.54%
USD=X
- 1D
- 0.00%
- 1M
- 1.90%
- YTD
- 1.01%
- 6M
- -0.07%
- 1Y
- 1.75%
- 3Y*
- -2.30%
- 5Y*
- 1.23%
- 10Y*
- 0.85%
MIDD.L vs. USD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIDD.L iShares FTSE 250 UCITS ETF | 5.26% | 12.44% | 7.33% | 7.76% | -17.86% | 16.27% | -5.34% | 28.46% | -13.44% | 17.34% |
USD=X USD Cash | 1.01% | -7.12% | 1.75% | -5.00% | 11.89% | 0.95% | -2.94% | -3.80% | 5.93% | -8.65% |
Correlation
The correlation between MIDD.L and USD=X is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2007 | -0.11 |
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Return for Risk
MIDD.L vs. USD=X — Risk / Return Rank
MIDD.L
USD=X
MIDD.L vs. USD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares FTSE 250 UCITS ETF (MIDD.L) and USD Cash (USD=X). 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.
| MIDD.L | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.04 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 0.23 | +0.96 |
| Martin ratioReturn relative to average drawdown | 4.19 | 0.53 | +3.66 |
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
| MIDD.L | USD=X | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.10 | 0.20 | +0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.14 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.09 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.23 | +0.25 |
Drawdowns
MIDD.L vs. USD=X - Drawdown Comparison
The maximum MIDD.L drawdown since its inception was -51.66%, which is greater than USD=X's maximum drawdown of -22.85%. Use the drawdown chart below to compare losses from any high point for MIDD.L and USD=X.
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Drawdown Indicators
| MIDD.L | USD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.66% | -22.85% | -28.81% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -5.98% | -5.56% |
Max Drawdown (3Y)Largest decline over 3 years | -16.92% | -12.79% | -4.13% |
Max Drawdown (5Y)Largest decline over 5 years | -29.93% | -22.85% | -7.08% |
Max Drawdown (10Y)Largest decline over 10 years | -41.60% | -22.85% | -18.75% |
Current DrawdownCurrent decline from peak | -0.77% | -19.91% | +19.14% |
Average DrawdownAverage peak-to-trough decline | -8.76% | -11.07% | +2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.28% | 2.92% | +0.36% |
Volatility
MIDD.L vs. USD=X - Volatility Comparison
iShares FTSE 250 UCITS ETF (MIDD.L) has a higher volatility of 3.92% compared to USD Cash (USD=X) at 1.92%. This indicates that MIDD.L's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIDD.L | USD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.92% | 1.92% | +2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 10.27% | 5.24% | +5.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.49% | 5.77% | +6.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.27% | 7.12% | +8.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.54% | 7.92% | +8.62% |
Frequently Asked Questions
MIDD.L and USD=X have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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