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WDMF.AX vs. IHEB.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

WDMF.AX vs. IHEB.AX

Last updated Jul 18, 2026
Documentation

WDMF.AX (iShares World Equity Factor ETF) and IHEB.AX (iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF) are both exchange-traded funds - WDMF.AX is a Global Equities fund tracking the iShares World Equity Factor Index, while IHEB.AX is a Total Bond Market fund tracking the iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) Index. Both are passively managed. Over the past 5 years, WDMF.AX returned 12.09%/yr vs 1.52%/yr for IHEB.AX. At a 0.18 correlation, their price movements are largely independent.

Performance

WDMF.AX vs. IHEB.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in iShares World Equity Factor ETF (WDMF.AX) and iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF (IHEB.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, WDMF.AX achieves a 4.62% return, which is significantly higher than IHEB.AX's 0.96% return.

WDMF.AX

1D
-1.28%
1M
0.58%
6M
4.22%
YTD
4.62%
1Y
13.46%
3Y*
18.18%
5Y*
12.09%
10Y*
—

IHEB.AX

1D
-0.30%
1M
-1.10%
6M
1.00%
YTD
0.96%
1Y
9.05%
3Y*
8.33%
5Y*
1.52%
10Y*
3.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

WDMF.AX vs. IHEB.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
WDMF.AX
iShares World Equity Factor ETF		4.62%15.40%30.82%14.10%-8.56%26.94%0.86%23.27%-3.75%18.89%
IHEB.AX
iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF		0.96%13.46%6.18%9.22%-17.76%-1.00%7.74%18.63%-7.42%12.01%

Correlation

The correlation between WDMF.AX and IHEB.AX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.32

Correlation (3Y)
Calculated over the trailing 3-year period

0.21

Correlation (5Y)
Calculated over the trailing 5-year period

0.21

Correlation (All Time)
Calculated using the full available price history since Oct 11, 2016

0.18

The correlation between WDMF.AX and IHEB.AX shifts across timeframes, from 0.18 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

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iShares World Equity Factor ETF

iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF

Often compared with WDMF.AX:
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Often compared with IHEB.AX:
IHEB.AX vs. BNDS.AXIHEB.AX vs. BOND.AXIHEB.AX vs. IAF.AXIHEB.AX vs. IHHY.AXIHEB.AX vs. IVV.AXIHEB.AX vs. QPON.AXIHEB.AX vs. VAF.AX

Return for Risk

WDMF.AX vs. IHEB.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WDMF.AX
WDMF.AX Risk / Return Rank: 4545
Overall Rank
WDMF.AX Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
WDMF.AX Sortino Ratio Rank: 5050
Sortino Ratio Rank
WDMF.AX Omega Ratio Rank: 5353
Omega Ratio Rank
WDMF.AX Calmar Ratio Rank: 3434
Calmar Ratio Rank
WDMF.AX Martin Ratio Rank: 3636
Martin Ratio Rank
IHEB.AX
IHEB.AX Risk / Return Rank: 6060
Overall Rank
IHEB.AX Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
IHEB.AX Sortino Ratio Rank: 6363
Sortino Ratio Rank
IHEB.AX Omega Ratio Rank: 6666
Omega Ratio Rank
IHEB.AX Calmar Ratio Rank: 5050
Calmar Ratio Rank
IHEB.AX Martin Ratio Rank: 5656
Martin Ratio Rank
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.

WDMF.AX vs. IHEB.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares World Equity Factor ETF (WDMF.AX) and iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF (IHEB.AX). 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.

WDMF.AXIHEB.AXDifference
Sharpe ratioReturn per unit of total volatility
1.33
1.55

-0.23

Sortino ratioReturn per unit of downside risk
1.89
2.23

-0.33

Omega ratioGain probability vs. loss probability

1.25

1.30

-0.04

Calmar ratioReturn relative to maximum drawdown

1.35

1.92

-0.57

Martin ratioReturn relative to average drawdown

4.09

7.25

-3.16

WDMF.AX vs. IHEB.AX - Sharpe Ratio Comparison

The current WDMF.AX Sharpe Ratio is 1.33, which is comparable to the IHEB.AX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of WDMF.AX and IHEB.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

WDMF.AX vs. IHEB.AX - Drawdown Comparison

The maximum WDMF.AX drawdown since its inception was -25.36%, smaller than the maximum IHEB.AX drawdown of -31.64%. Use the drawdown chart below to compare losses from any high point for WDMF.AX and IHEB.AX.

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Drawdown Indicators

WDMF.AXIHEB.AXDifference

Max Drawdown

Largest peak-to-trough decline

-25.36%

-31.64%

+6.28%

Max Drawdown (1Y)

Largest decline over 1 year

-9.72%

-4.64%

-5.08%

Max Drawdown (3Y)

Largest decline over 3 years

-13.37%

-7.51%

-5.86%

Max Drawdown (5Y)

Largest decline over 5 years

-17.44%

-27.90%

+10.46%

Max Drawdown (10Y)

Largest decline over 10 years

—

-31.64%

—

Current Drawdown

Current decline from peak

-1.31%

-1.10%

-0.21%

Average Drawdown

Average peak-to-trough decline

-3.96%

-6.27%

+2.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.24%

1.24%

+2.00%

Volatility

WDMF.AX vs. IHEB.AX - Volatility Comparison

iShares World Equity Factor ETF (WDMF.AX) has a higher volatility of 2.63% compared to iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF (IHEB.AX) at 1.11%. This indicates that WDMF.AX's price experiences larger fluctuations and is considered to be riskier than IHEB.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

WDMF.AXIHEB.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.63%

1.11%

+1.52%

Volatility (6M)

Calculated over the trailing 6-month period

7.84%

4.83%

+3.01%

Volatility (1Y)

Calculated over the trailing 1-year period

9.88%

5.76%

+4.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.37%

10.72%

+1.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.12%

12.04%

+1.08%

Dividends

WDMF.AX vs. IHEB.AX - Dividend Comparison

WDMF.AX's dividend yield for the trailing twelve months is around 3.06%, less than IHEB.AX's 6.03% yield.

PositionTTM202520242023202220212020201920182017
IHEB.AX
iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF		6.03%5.74%9.24%5.17%8.58%6.14%9.71%6.51%3.59%6.82%
WDMF.AX
iShares World Equity Factor ETF		3.06%3.16%5.04%2.73%8.42%5.27%1.58%1.56%3.60%3.66%

Frequently Asked Questions

WDMF.AX and IHEB.AX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

WDMF.AX is categorized as Global Equities, while IHEB.AX is Total Bond Market. WDMF.AX tracks iShares World Equity Factor Index, while IHEB.AX tracks iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) Index.

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