PAWS.L vs. MVEW.L
PAWS.L (Invesco MSCI World ESG Climate Paris Aligned UCITS ETF Acc) and MVEW.L (iShares Edge MSCI World Minimum Volatility ESG UCITS ETF (Acc)) are both Global Equities funds tracking the MSCI ACWI NR USD, from Invesco and iShares respectively. Both are passively managed. Over the past 3 years, PAWS.L returned 12.44%/yr vs 7.04%/yr for MVEW.L. A 0.66 correlation means they provide meaningful diversification when combined. PAWS.L charges 0.19%/yr vs 0.30%/yr for MVEW.L.
Performance
PAWS.L vs. MVEW.L - Performance Comparison
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Different Trading Currencies
PAWS.L is traded in GBp, while MVEW.L is traded in GBP. To make them comparable, the MVEW.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 higher than MVEW.L's 0.83% return.
PAWS.L
- 1D
- 0.02%
- 1M
- 0.91%
- YTD
- 5.65%
- 6M
- 6.18%
- 1Y
- 14.12%
- 3Y*
- 12.44%
- 5Y*
- —
- 10Y*
- —
MVEW.L
- 1D
- 0.00%
- 1M
- 2.88%
- YTD
- 0.83%
- 6M
- 0.50%
- 1Y
- 3.94%
- 3Y*
- 7.04%
- 5Y*
- —
- 10Y*
- —
PAWS.L vs. MVEW.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% |
MVEW.L iShares Edge MSCI World Minimum Volatility ESG UCITS ETF (Acc) | 0.83% | 3.61% | 12.60% | 3.91% | -0.44% | 3.41% |
Correlation
The correlation between PAWS.L and MVEW.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2021 | 0.66 |
Over the past year, the correlation between PAWS.L and MVEW.L has dropped to 0.36 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.
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Return for Risk
PAWS.L vs. MVEW.L — Risk / Return Rank
PAWS.L
MVEW.L
PAWS.L vs. MVEW.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 Minimum Volatility ESG UCITS ETF (Acc) (MVEW.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 | MVEW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | +197.50 | ||
| Omega ratioGain probability vs. loss probability | 87.34 | 1.09 | +86.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 0.68 | -0.54 |
| Martin ratioReturn relative to average drawdown | 0.51 | 1.75 | -1.24 |
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Drawdowns
PAWS.L vs. MVEW.L - Drawdown Comparison
The maximum PAWS.L drawdown since its inception was -99.03%, which is greater than MVEW.L's maximum drawdown of -10.07%. Use the drawdown chart below to compare losses from any high point for PAWS.L and MVEW.L.
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Drawdown Indicators
| PAWS.L | MVEW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.03% | -10.07% | -88.96% |
Max Drawdown (1Y)Largest decline over 1 year | -99.02% | -5.78% | -93.24% |
Max Drawdown (3Y)Largest decline over 3 years | -99.03% | -8.99% | -90.04% |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.07% | — |
Current DrawdownCurrent decline from peak | -3.17% | -2.57% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -2.65% | -5.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.63% | 2.24% | +24.39% |
Volatility
PAWS.L vs. MVEW.L - Volatility Comparison
Invesco MSCI World ESG Climate Paris Aligned UCITS ETF Acc (PAWS.L) has a higher volatility of 3.50% compared to iShares Edge MSCI World Minimum Volatility ESG UCITS ETF (Acc) (MVEW.L) at 2.62%. This indicates that PAWS.L's price experiences larger fluctuations and is considered to be riskier than MVEW.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 | MVEW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 2.62% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 653.26% | 6.01% | +647.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 19,679.03% | 8.10% | +19,670.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9,948.20% | 9.85% | +9,938.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9,948.20% | 9.85% | +9,938.35% |
PAWS.L vs. MVEW.L - Expense Ratio Comparison
PAWS.L has a 0.19% expense ratio, which is lower than MVEW.L's 0.30% expense ratio.
Dividends
PAWS.L vs. MVEW.L - Dividend Comparison
Neither PAWS.L nor MVEW.L has paid dividends to shareholders.
Frequently Asked Questions
PAWS.L and MVEW.L have a correlation of 0.36, 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 0.30% for MVEW.L.
Both ETFs track MSCI ACWI NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for PAWS.L and 0.30% for MVEW.L.
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