PAWS.L vs. IWVL.L
PAWS.L (Invesco MSCI World ESG Climate Paris Aligned UCITS ETF Acc) and IWVL.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)) are both Global Equities funds - PAWS.L tracks the MSCI ACWI NR USD while IWVL.L tracks the MSCI World Enhanced Value Index. Both are passively managed. Over the past 3 years, PAWS.L returned 12.44%/yr vs 25.82%/yr for IWVL.L. A 0.69 correlation means they provide meaningful diversification when combined. PAWS.L charges 0.19%/yr vs 0.25%/yr for IWVL.L.
Performance
PAWS.L vs. IWVL.L - Performance Comparison
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Different Trading Currencies
PAWS.L is traded in GBp, while IWVL.L is traded in USD. To make them comparable, the IWVL.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, PAWS.L achieves a 5.65% return, which is significantly lower than IWVL.L's 33.65% return.
PAWS.L
- 1D
- 0.02%
- 1M
- 0.91%
- YTD
- 5.65%
- 6M
- 6.18%
- 1Y
- 14.12%
- 3Y*
- 12.44%
- 5Y*
- —
- 10Y*
- —
IWVL.L
- 1D
- 3.45%
- 1M
- 6.47%
- YTD
- 33.65%
- 6M
- 34.77%
- 1Y
- 64.90%
- 3Y*
- 25.82%
- 5Y*
- 17.33%
- 10Y*
- 13.94%
PAWS.L vs. IWVL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PAWS.L Invesco MSCI World ESG Climate Paris Aligned UCITS ETF Acc | 5.65% | 7.39% | 14.93% | 14.95% | -12.42% | 7,269.00% |
IWVL.L iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) | 33.65% | 30.42% | 6.96% | 13.56% | 0.94% | 2.81% |
Correlation
The correlation between PAWS.L and IWVL.L is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2021 | 0.69 |
The correlation between PAWS.L and IWVL.L has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.
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Return for Risk
PAWS.L vs. IWVL.L — Risk / Return Rank
PAWS.L
IWVL.L
PAWS.L vs. IWVL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World ESG Climate Paris Aligned UCITS ETF Acc (PAWS.L) and iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.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.
| PAWS.L | IWVL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.20 | ||
| Sortino ratioReturn per unit of downside risk | +192.57 | ||
| Omega ratioGain probability vs. loss probability | 87.34 | 1.78 | +85.56 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 8.26 | -8.12 |
| Martin ratioReturn relative to average drawdown | 0.51 | 33.15 | -32.63 |
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Drawdowns
PAWS.L vs. IWVL.L - Drawdown Comparison
The maximum PAWS.L drawdown since its inception was -99.03%, which is greater than IWVL.L's maximum drawdown of -28.56%. Use the drawdown chart below to compare losses from any high point for PAWS.L and IWVL.L.
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Drawdown Indicators
| PAWS.L | IWVL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.03% | -28.56% | -70.47% |
Max Drawdown (1Y)Largest decline over 1 year | -99.02% | -7.82% | -91.20% |
Max Drawdown (3Y)Largest decline over 3 years | -99.03% | -14.14% | -84.89% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.56% | — |
Current DrawdownCurrent decline from peak | -3.17% | -1.52% | -1.65% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -4.51% | -3.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.63% | 1.95% | +24.68% |
Volatility
PAWS.L vs. IWVL.L - Volatility Comparison
The current volatility for Invesco MSCI World ESG Climate Paris Aligned UCITS ETF Acc (PAWS.L) is 3.50%, while iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L) has a volatility of 6.84%. This indicates that PAWS.L experiences smaller price fluctuations and is considered to be less risky than IWVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAWS.L | IWVL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 6.84% | -3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 653.26% | 13.30% | +639.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 19,679.03% | 15.41% | +19,663.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9,948.20% | 14.45% | +9,933.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9,948.20% | 16.09% | +9,932.11% |
PAWS.L vs. IWVL.L - Expense Ratio Comparison
PAWS.L has a 0.19% expense ratio, which is lower than IWVL.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PAWS.L vs. IWVL.L - Dividend Comparison
Neither PAWS.L nor IWVL.L has paid dividends to shareholders.
Frequently Asked Questions
PAWS.L and IWVL.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAWS.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAWS.L is cheaper with a 0.19% expense ratio, compared with 0.25% for IWVL.L.
PAWS.L tracks MSCI ACWI NR USD, while IWVL.L tracks MSCI World Enhanced Value Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for PAWS.L and 0.25% for IWVL.L.
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