VALW.L vs. IWVG.L

Last updated Jun 4, 2026

VALW.L (SPDR MSCI World Value UCITS ETF) and IWVG.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)) are both Global Equities funds tracking the MSCI ACWI Value NR USD, from State Street and iShares respectively. Both are passively managed. Over the past 5 years, VALW.L returned 14.46%/yr vs 16.67%/yr for IWVG.L. With a 0.95 correlation, they move nearly in lockstep. VALW.L charges 0.25%/yr vs 0.30%/yr for IWVG.L.

Performance

VALW.L vs. IWVG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI World Value UCITS ETF (VALW.L) and iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VALW.L achieves a 19.01% return, which is significantly lower than IWVG.L's 35.18% return.

VALW.L

• 1D: -0.26%
• 1M: 9.99%
• YTD: 19.01%
• 6M: 21.67%
• 1Y: 46.02%
• 3Y*: 21.08%
• 5Y*: 14.46%
• 10Y*: —

IWVG.L

• 1D: 0.11%
• 1M: 16.54%
• YTD: 35.18%
• 6M: 37.33%
• 1Y: 64.08%
• 3Y*: 25.61%
• 5Y*: 16.67%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VALW.L vs. IWVG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VALW.L SPDR MSCI World Value UCITS ETF	19.01%	27.01%	5.92%	16.43%	0.09%	20.68%	-18.17%
IWVG.L iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)	35.18%	27.50%	5.20%	13.05%	1.04%	21.47%	10.93%

Correlation

The correlation between VALW.L and IWVG.L is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 3, 2020	0.95

The correlation between VALW.L and IWVG.L has been stable across timeframes, ranging from 0.87 to 0.95 - a consistent structural relationship.

VALW.L vs. IWVG.L - Sectors Allocation Comparison

Sectors	VALW.L	IWVG.L
Technology	29.7%	33.9%
Financial Services	15.4%	14.8%
Industrials	12.4%	11.3%
Healthcare	9.4%	8.8%
Consumer Cyclical	8.3%	7.9%
Communication Services	8.1%	7.6%
Consumer Defensive	4.9%	4.5%
Energy	4.1%	3.8%
Basic Materials	3.2%	3.0%
Utilities	2.7%	2.5%
Real Estate	1.8%	1.8%

Return for Risk

VALW.L vs. IWVG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VALW.L

VALW.L Risk / Return Rank: 94
VALW.L Sharpe Ratio Rank: 95
VALW.L Sortino Ratio Rank: 95
VALW.L Omega Ratio Rank: 95
VALW.L Calmar Ratio Rank: 93
VALW.L Martin Ratio Rank: 93

IWVG.L

IWVG.L Risk / Return Rank: 97
IWVG.L Sharpe Ratio Rank: 97
IWVG.L Sortino Ratio Rank: 97
IWVG.L Omega Ratio Rank: 97
IWVG.L Calmar Ratio Rank: 96
IWVG.L Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VALW.L vs. IWVG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Value UCITS ETF (VALW.L) and iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.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.

	VALW.L	IWVG.L	Difference
Sharpe ratio Return per unit of total volatility	3.84	4.78	-0.93
Sortino ratio Return per unit of downside risk	5.27	6.40	-1.13
Omega ratio Gain probability vs. loss probability	1.72	1.90	-0.18
Calmar ratio Return relative to maximum drawdown	6.51	9.08	-2.58
Martin ratio Return relative to average drawdown	24.41	33.80	-9.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VALW.L vs. IWVG.L - Sharpe Ratio Comparison

The current VALW.L Sharpe Ratio is 3.84, which is comparable to the IWVG.L Sharpe Ratio of 4.78. The chart below compares the historical Sharpe Ratios of VALW.L and IWVG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VALW.L	IWVG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.84	4.78	-0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.14	1.28	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.74	-0.06

Drawdowns

VALW.L vs. IWVG.L - Drawdown Comparison

The maximum VALW.L drawdown since its inception was -28.59%, roughly equal to the maximum IWVG.L drawdown of -28.07%. Use the drawdown chart below to compare losses from any high point for VALW.L and IWVG.L.

Drawdown Indicators

	VALW.L	IWVG.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.59%	-28.07%	-0.52%
Max Drawdown (1Y) Largest decline over 1 year	-7.04%	-7.02%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-14.24%	-13.79%	-0.45%
Max Drawdown (5Y) Largest decline over 5 years	-14.24%	-13.79%	-0.45%
Current Drawdown Current decline from peak	-0.26%	0.00%	-0.26%
Average Drawdown Average peak-to-trough decline	-4.55%	-4.31%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	1.89%	-0.01%

Volatility

VALW.L vs. IWVG.L - Volatility Comparison

The current volatility for SPDR MSCI World Value UCITS ETF (VALW.L) is 4.22%, while iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L) has a volatility of 5.65%. This indicates that VALW.L experiences smaller price fluctuations and is considered to be less risky than IWVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VALW.L	IWVG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	5.65%	-1.43%
Volatility (6M) Calculated over the trailing 6-month period	9.57%	10.92%	-1.35%
Volatility (1Y) Calculated over the trailing 1-year period	11.92%	13.35%	-1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.65%	13.07%	-0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	15.57%	+1.11%

VALW.L vs. IWVG.L - Expense Ratio Comparison

VALW.L has a 0.25% expense ratio, which is lower than IWVG.L's 0.30% expense ratio.

Dividends

VALW.L vs. IWVG.L - Dividend Comparison

Neither VALW.L nor IWVG.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IWVG.L iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)	0.00%	0.00%	1.82%	3.23%	3.12%	2.61%	2.37%	2.90%	2.48%
VALW.L SPDR MSCI World Value UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VALW.L and IWVG.L in my portfolio?

VALW.L and IWVG.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VALW.L or IWVG.L?

On fees, VALW.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VALW.L or IWVG.L?

VALW.L is cheaper with a 0.25% expense ratio, compared with 0.30% for IWVG.L.

What is the main difference between VALW.L and IWVG.L?

Both ETFs track MSCI ACWI Value NR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.25% for VALW.L and 0.30% for IWVG.L.