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XDEM.L vs. IWFM.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XDEM.L vs. IWFM.L

Last updated Jun 4, 2026

XDEM.L (Xtrackers MSCI World Momentum Factor UCITS ETF 1C) and IWFM.L (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) are both Momentum funds tracking the MSCI World Momentum Index, from DWS and iShares respectively. Both are passively managed. Over the past 10 years, XDEM.L returned 17.01%/yr vs 16.65%/yr for IWFM.L. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

XDEM.L vs. IWFM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.L) and iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWFM.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with XDEM.L having a 23.18% return and IWFM.L slightly higher at 23.19%. Both investments have delivered pretty close results over the past 10 years, with XDEM.L having a 17.01% annualized return and IWFM.L not far behind at 16.65%.

XDEM.L

1D
1.40%
1M
11.96%
YTD
23.18%
6M
24.68%
1Y
36.45%
3Y*
26.71%
5Y*
15.08%
10Y*
17.01%

IWFM.L

1D
1.48%
1M
12.05%
YTD
23.19%
6M
24.81%
1Y
36.60%
3Y*
26.69%
5Y*
15.03%
10Y*
16.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XDEM.L vs. IWFM.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XDEM.L
Xtrackers MSCI World Momentum Factor UCITS ETF 1C		23.18%12.52%32.87%5.88%-8.06%15.61%24.14%23.37%2.28%20.40%
IWFM.L
iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)		23.19%12.72%32.62%5.85%-8.21%15.58%24.16%23.25%1.62%20.40%

Correlation

The correlation between XDEM.L and IWFM.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.99

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

0.99

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

0.99

Correlation (10Y)
Calculated over the trailing 10-year period

0.97

Correlation (All Time)
Calculated using the full available price history since Oct 20, 2014

0.94

The correlation between XDEM.L and IWFM.L has been stable across timeframes, ranging from 0.94 to 0.99 - a consistent structural relationship.

XDEM.L vs. IWFM.L - Sectors Allocation Comparison

Sectors
XDEM.L
IWFM.L

Technology

34.6%
26.0%

Industrials

20.5%
18.7%

Financial Services

18.9%
13.1%

Communication Services

7.2%
6.8%

Healthcare

6.0%
10.7%

Basic Materials

4.9%
6.0%

Utilities

2.6%
3.7%

Energy

1.8%
10.6%

Consumer Defensive

1.2%
1.5%

Consumer Cyclical

1.2%
1.6%

Real Estate

1.0%
1.4%

Technology

XDEM.L
34.6%
IWFM.L
26.0%

Industrials

XDEM.L
20.5%
IWFM.L
18.7%

Financial Services

XDEM.L
18.9%
IWFM.L
13.1%

Communication Services

XDEM.L
7.2%
IWFM.L
6.8%

Healthcare

XDEM.L
6.0%
IWFM.L
10.7%

Basic Materials

XDEM.L
4.9%
IWFM.L
6.0%

Utilities

XDEM.L
2.6%
IWFM.L
3.7%

Energy

XDEM.L
1.8%
IWFM.L
10.6%

Consumer Defensive

XDEM.L
1.2%
IWFM.L
1.5%

Consumer Cyclical

XDEM.L
1.2%
IWFM.L
1.6%

Real Estate

XDEM.L
1.0%
IWFM.L
1.4%

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Xtrackers MSCI World Momentum Factor UCITS ETF 1C

iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)

Often compared with XDEM.L:
XDEM.L vs. XDEV.LXDEM.L vs. XDEM.DEXDEM.L vs. VHVG.LXDEM.L vs. MVOL.LXDEM.L vs. XDEB.LXDEM.L vs. EXCS.LXDEM.L vs. IUMF.L
Often compared with IWFM.L:
IWFM.L vs. SPMOIWFM.L vs. XDEM.DEIWFM.L vs. IMTMIWFM.L vs. IUMF.LIWFM.L vs. SPYIWFM.L vs. JPGL.LIWFM.L vs. ACWI

Return for Risk

XDEM.L vs. IWFM.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XDEM.L
XDEM.L Risk / Return Rank: 7373
Overall Rank
XDEM.L Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
XDEM.L Sortino Ratio Rank: 7272
Sortino Ratio Rank
XDEM.L Omega Ratio Rank: 6767
Omega Ratio Rank
XDEM.L Calmar Ratio Rank: 7878
Calmar Ratio Rank
XDEM.L Martin Ratio Rank: 7979
Martin Ratio Rank
IWFM.L
IWFM.L Risk / Return Rank: 7373
Overall Rank
IWFM.L Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
IWFM.L Sortino Ratio Rank: 7272
Sortino Ratio Rank
IWFM.L Omega Ratio Rank: 6868
Omega Ratio Rank
IWFM.L Calmar Ratio Rank: 7979
Calmar Ratio Rank
IWFM.L Martin Ratio Rank: 8080
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.

XDEM.L vs. IWFM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.L) 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.

XDEM.LIWFM.LDifference
Sharpe ratioReturn per unit of total volatility
2.25
2.25

-0.01

Sortino ratioReturn per unit of downside risk
3.31
3.30

+0.01

Omega ratioGain probability vs. loss probability

1.41

1.41

0.00

Calmar ratioReturn relative to maximum drawdown

4.03

4.07

-0.05

Martin ratioReturn relative to average drawdown

15.69

15.90

-0.21

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDEM.L vs. IWFM.L - Sharpe Ratio Comparison

The current XDEM.L Sharpe Ratio is 2.25, which is comparable to the IWFM.L Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of XDEM.L and IWFM.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.

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Sharpe Ratios by Period

XDEM.LIWFM.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.25

2.25

-0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.92

0.91

+0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.01

0.99

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.97

0.98

-0.01

Drawdowns

XDEM.L vs. IWFM.L - Drawdown Comparison

The maximum XDEM.L drawdown since its inception was -22.42%, roughly equal to the maximum IWFM.L drawdown of -22.58%. Use the drawdown chart below to compare losses from any high point for XDEM.L and IWFM.L.

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Drawdown Indicators

XDEM.LIWFM.LDifference

Max Drawdown

Largest peak-to-trough decline

-22.42%

-22.58%

+0.16%

Max Drawdown (1Y)

Largest decline over 1 year

-9.01%

-8.95%

-0.06%

Max Drawdown (3Y)

Largest decline over 3 years

-19.99%

-20.40%

+0.41%

Max Drawdown (5Y)

Largest decline over 5 years

-20.13%

-20.40%

+0.27%

Max Drawdown (10Y)

Largest decline over 10 years

-22.42%

-22.58%

+0.16%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.99%

-4.94%

-0.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.32%

2.30%

+0.02%

Volatility

XDEM.L vs. IWFM.L - Volatility Comparison

Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.L) and iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWFM.L) have volatilities of 5.92% and 5.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XDEM.LIWFM.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.92%

5.88%

+0.04%

Volatility (6M)

Calculated over the trailing 6-month period

13.77%

13.74%

+0.03%

Volatility (1Y)

Calculated over the trailing 1-year period

16.16%

16.18%

-0.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.41%

16.47%

-0.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.80%

17.18%

-0.38%

XDEM.L vs. IWFM.L - Expense Ratio Comparison

Both XDEM.L and IWFM.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XDEM.L vs. IWFM.L - Dividend Comparison

Neither XDEM.L nor IWFM.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.99, XDEM.L and IWFM.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

XDEM.L and IWFM.L have the same expense ratio: 0.25% per year.

Both ETFs track MSCI World Momentum Index. They also come from different issuers: DWS and iShares.

Portfolio Optimizer

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