The iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO) is an Ireland-domiciled equity ETF managed by BlackRock and traded on the London Stock Exchange.

The fund seeks to track the performance of the MSCI World Momentum Index, a benchmark that selects large- and mid-cap developed-market companies exhibiting strong price momentum.

IWMO provides exposure to a factor-based strategy applied to the MSCI World universe. The ETF follows a passive investment approach and uses optimized physical replication, holding a portfolio designed to track the performance of its benchmark. It operates under the UCITS framework and follows an accumulating income policy.

The MSCI World Momentum Index evaluates stock performance over 6- and 12-month periods, adjusting returns for volatility. These measures are combined into a Momentum Score used to select constituents. 

Composition / Exposure Profile

IWMO holds companies across a broad range of developed-market sectors, including:

• Information technology.

• Industrials.

• Financials.

• Energy.

• Health care.

• Materials.

• Communication services.

• Consumer discretionary.

• Consumer staples.

• Utilities.

• Real estate.

Geographically, the fund can invest across the 23 developed markets represented in the MSCI World universe, including the United States, Japan, the United Kingdom, Canada, and countries across Europe and Asia-Pacific.

Because the strategy selects companies according to the strength of their momentum characteristics, its country, sector, and company allocations can change meaningfully over time. Its composition can also differ substantially from the standard MSCI World Index while remaining within the developed-market equity universe.

Structure and Costs

IWMO has the U.S. dollar as both its fund base currency and share class currency and is traded on the London Stock Exchange.

The ETF has a total expense ratio (TER) of 0.25% per year, uses a physical structure with optimized replication, and is domiciled in Ireland under the UCITS framework. Its issuing company is iShares IV plc, and the fund is managed by BlackRock Asset Management Ireland Limited.

IWMO is an accumulating share class, meaning dividends and other income generated by its holdings are reinvested within the fund rather than distributed periodically to shareholders.

History and Evolution of the ETF

The iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO) was launched in 2014 to provide systematic exposure to the momentum factor within developed equity markets.

Since its launch, the fund has maintained a passive strategy linked to the MSCI World Momentum Index, selecting stocks through quantitative signals associated with the persistence of recent price trends.

Throughout its history, the fund's composition has adjusted as equity-market trends have changed. Because momentum is a dynamic factor, different companies and sectors can gain or lose weight as their relative performance patterns evolve.

Additional Information

iShares Edge MSCI World Momentum Factor UCITS ETF USD Acc (Ireland) is an exchange-traded fund (ETF), with assets under management totaling $2.62 billion.

Over the past 12 months, iShares Edge MSCI World Momentum Factor UCITS ETF USD Acc recorded a return of 23.87%, with its price trading between $90.58 and $124.52 during the same period.

The ETF is traded under the ticker IWMO.