VHYL.L vs. IUVL.L

Last updated Jul 7, 2026

VHYL.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing) and IUVL.L (iShares Edge MSCI USA Value Factor UCITS ETF USD (Acc)) are both exchange-traded funds - VHYL.L is a Dividend fund tracking the FTSE All-World High Dividend Yield Index, while IUVL.L is a Large Cap Value Equities fund tracking the MSCI USA Enhanced Value Index. Both are passively managed. Over the past 5 years, VHYL.L returned 12.14%/yr vs 16.64%/yr for IUVL.L. A 0.78 correlation means they provide meaningful diversification when combined. VHYL.L charges 0.29%/yr vs 0.20%/yr for IUVL.L.

Performance

VHYL.L vs. IUVL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYL.L) and iShares Edge MSCI USA Value Factor UCITS ETF USD (Acc) (IUVL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VHYL.L is traded in GBP, while IUVL.L is traded in USD. To make them comparable, the IUVL.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VHYL.L achieves a 13.90% return, which is significantly lower than IUVL.L's 43.01% return.

VHYL.L

• 1D: 0.07%
• 1M: 2.36%
• 6M: 13.20%
• YTD: 13.90%
• 1Y: 27.86%
• 3Y*: 17.68%
• 5Y*: 12.14%
• 10Y*: 9.91%

IUVL.L

• 1D: -0.33%
• 1M: -0.72%
• 6M: 41.24%
• YTD: 43.01%
• 1Y: 75.13%
• 3Y*: 28.48%
• 5Y*: 16.64%
• 10Y*: —

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

VHYL.L vs. IUVL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VHYL.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing	13.90%	18.23%	11.22%	5.25%	5.95%	19.23%	-3.53%	17.00%	-6.59%	8.80%
IUVL.L iShares Edge MSCI USA Value Factor UCITS ETF USD (Acc)	43.01%	23.61%	8.25%	8.86%	-4.75%	31.03%	-4.38%	21.14%	-6.90%	11.16%

Correlation

The correlation between VHYL.L and IUVL.L is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Oct 13, 2016	0.78

Over the past year, the correlation between VHYL.L and IUVL.L has dropped to 0.58 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

VHYL.L vs. IUVL.L - Sectors Allocation Comparison

Sectors	VHYL.L	IUVL.L
Financial Services	28.2%	9.8%
Industrials	12.2%	7.7%
Healthcare	11.1%	7.6%
Technology	9.5%	42.5%
Energy	8.7%	3.0%
Consumer Defensive	8.5%	4.3%
Consumer Cyclical	7.2%	10.5%
Utilities	5.3%	1.9%
Basic Materials	5.2%	1.4%
Communication Services	3.4%	9.6%
Real Estate	0.8%	1.8%

Return for Risk

VHYL.L vs. IUVL.L — Risk / Return Rank

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

VHYL.L

VHYL.L Risk / Return Rank: 91
VHYL.L Sharpe Ratio Rank: 96
VHYL.L Sortino Ratio Rank: 95
VHYL.L Omega Ratio Rank: 95
VHYL.L Calmar Ratio Rank: 86
VHYL.L Martin Ratio Rank: 85

IUVL.L

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

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.

VHYL.L vs. IUVL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYL.L) and iShares Edge MSCI USA Value Factor UCITS ETF USD (Acc) (IUVL.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.

	VHYL.L	IUVL.L	Difference
Sharpe ratio: Return per unit of total volatility	3.22	4.17	-0.95
Sortino ratio: Return per unit of downside risk	4.34	5.41	-1.07
Omega ratio: Gain probability vs. loss probability	1.62	1.71	-0.09
Calmar ratio: Return relative to maximum drawdown	3.99	11.33	-7.34
Martin ratio: Return relative to average drawdown	14.42	38.03	-23.62

VHYL.L vs. IUVL.L - Sharpe Ratio Comparison

The current VHYL.L Sharpe Ratio is 3.22, which is comparable to the IUVL.L Sharpe Ratio of 4.17. The chart below compares the historical Sharpe Ratios of VHYL.L and IUVL.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.

Drawdowns

VHYL.L vs. IUVL.L - Drawdown Comparison

The maximum VHYL.L drawdown since its inception was -27.87%, smaller than the maximum IUVL.L drawdown of -32.30%. Use the drawdown chart below to compare losses from any high point for VHYL.L and IUVL.L.

Drawdown Indicators

	VHYL.L	IUVL.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.87%	-32.30%	+4.43%
Max Drawdown (1Y) Largest decline over 1 year	-6.95%	-6.60%	-0.35%
Max Drawdown (3Y) Largest decline over 3 years	-12.79%	-20.54%	+7.75%
Max Drawdown (5Y) Largest decline over 5 years	-12.79%	-20.54%	+7.75%
Max Drawdown (10Y) Largest decline over 10 years	-27.87%	—	—
Current Drawdown Current decline from peak	0.00%	-6.02%	+6.02%
Average Drawdown Average peak-to-trough decline	-3.59%	-5.51%	+1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	1.97%	-0.04%

Volatility

VHYL.L vs. IUVL.L - Volatility Comparison

The current volatility for Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYL.L) is 2.12%, while iShares Edge MSCI USA Value Factor UCITS ETF USD (Acc) (IUVL.L) has a volatility of 7.89%. This indicates that VHYL.L experiences smaller price fluctuations and is considered to be less risky than IUVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHYL.L	IUVL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.12%	7.89%	-5.77%
Volatility (6M) Calculated over the trailing 6-month period	6.92%	15.46%	-8.54%
Volatility (1Y) Calculated over the trailing 1-year period	8.63%	17.97%	-9.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.76%	17.44%	-6.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.99%	18.75%	-5.76%

VHYL.L vs. IUVL.L - Expense Ratio Comparison

VHYL.L has a 0.29% expense ratio, which is higher than IUVL.L's 0.20% expense ratio.

Dividends

VHYL.L vs. IUVL.L - Dividend Comparison

VHYL.L's dividend yield for the trailing twelve months is around 2.51%, while IUVL.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IUVL.L iShares Edge MSCI USA Value Factor UCITS ETF USD (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%
VHYL.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing	2.51%	2.79%	3.08%	3.37%	3.67%	3.08%	3.28%	3.34%	3.63%	3.09%	2.88%	3.20%

Frequently Asked Questions

Can I hold both VHYL.L and IUVL.L in my portfolio?

VHYL.L and IUVL.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VHYL.L or IUVL.L?

On fees, IUVL.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VHYL.L or IUVL.L?

IUVL.L is cheaper with a 0.20% expense ratio, compared with 0.29% for VHYL.L.

What is the main difference between VHYL.L and IUVL.L?

VHYL.L is categorized as Dividend, while IUVL.L is Large Cap Value Equities. VHYL.L tracks FTSE All-World High Dividend Yield Index, while IUVL.L tracks MSCI USA Enhanced Value Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.29% for VHYL.L and 0.20% for IUVL.L.