SPHD vs. IWFM.L
SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) and IWFM.L (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) are both exchange-traded funds - SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index, while IWFM.L is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 10 years, SPHD returned 7.23%/yr vs 15.23%/yr for IWFM.L. At a 0.31 correlation, their price movements are largely independent. SPHD charges 0.30%/yr vs 0.25%/yr for IWFM.L.
Performance
SPHD vs. IWFM.L - Performance Comparison
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Different Trading Currencies
SPHD is traded in USD, while IWFM.L is traded in GBp. To make them comparable, the IWFM.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPHD achieves a 6.80% return, which is significantly lower than IWFM.L's 18.47% return. Over the past 10 years, SPHD has underperformed IWFM.L with an annualized return of 7.23%, while IWFM.L has yielded a comparatively higher 15.23% annualized return.
SPHD
- 1D
- 1.11%
- 1M
- 1.68%
- YTD
- 6.80%
- 6M
- 7.62%
- 1Y
- 11.00%
- 3Y*
- 12.05%
- 5Y*
- 5.97%
- 10Y*
- 7.23%
IWFM.L
- 1D
- -2.76%
- 1M
- 2.50%
- YTD
- 18.47%
- 6M
- 19.85%
- 1Y
- 30.18%
- 3Y*
- 28.34%
- 5Y*
- 12.99%
- 10Y*
- 15.23%
SPHD vs. IWFM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 6.80% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
IWFM.L iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 18.47% | 21.23% | 30.41% | 11.44% | -18.02% | 14.53% | 27.96% | 28.19% | -4.13% | 31.86% |
Correlation
The correlation between SPHD and IWFM.L is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2014 | 0.31 |
Over the past year, the correlation between SPHD and IWFM.L has dropped to 0.04 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
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Return for Risk
SPHD vs. IWFM.L — Risk / Return Rank
SPHD
IWFM.L
SPHD vs. IWFM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) and iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWFM.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.
| SPHD | IWFM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.30 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 2.54 | -0.92 |
| Martin ratioReturn relative to average drawdown | 4.02 | 10.79 | -6.77 |
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
| SPHD | IWFM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 1.66 | -0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.57 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.75 | -0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.42 | +0.17 |
Drawdowns
SPHD vs. IWFM.L - Drawdown Comparison
The maximum SPHD drawdown since its inception was -41.39%, roughly equal to the maximum IWFM.L drawdown of -42.09%. Use the drawdown chart below to compare losses from any high point for SPHD and IWFM.L.
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Drawdown Indicators
| SPHD | IWFM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.39% | -42.09% | +0.70% |
Max Drawdown (1Y)Largest decline over 1 year | -7.33% | -11.70% | +4.37% |
Max Drawdown (3Y)Largest decline over 3 years | -13.29% | -19.82% | +6.53% |
Max Drawdown (5Y)Largest decline over 5 years | -19.50% | -30.66% | +11.16% |
Max Drawdown (10Y)Largest decline over 10 years | -41.39% | -30.82% | -10.57% |
Current DrawdownCurrent decline from peak | -3.18% | -3.55% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -4.70% | -13.38% | +8.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 2.76% | +0.18% |
Volatility
SPHD vs. IWFM.L - Volatility Comparison
The current volatility for Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) is 3.39%, while iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWFM.L) has a volatility of 6.76%. This indicates that SPHD experiences smaller price fluctuations and is considered to be less risky than IWFM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPHD | IWFM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.39% | 6.76% | -3.37% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 15.54% | -7.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.12% | 17.94% | -6.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.17% | 22.90% | -8.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.65% | 20.25% | -2.60% |
SPHD vs. IWFM.L - Expense Ratio Comparison
SPHD has a 0.30% expense ratio, which is higher than IWFM.L's 0.25% expense ratio.
Dividends
SPHD vs. IWFM.L - Dividend Comparison
SPHD's dividend yield for the trailing twelve months is around 4.52%, while IWFM.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWFM.L iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.52% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
Frequently Asked Questions
SPHD and IWFM.L have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IWFM.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWFM.L is cheaper with a 0.25% expense ratio, compared with 0.30% for SPHD.
SPHD is categorized as Dividend, while IWFM.L is Momentum. SPHD tracks S&P 500 Low Volatility High Dividend Index, while IWFM.L tracks MSCI World Momentum Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.30% for SPHD and 0.25% for IWFM.L.
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