ACWV vs IMTM: Grades, Fees and Holdings Compared

iShares MSCI Global Min Vol Factor ETF

ACWVBCboe

iShares MSCI Intl Momentum Factor ETF

IMTMBNYSE Arca

Overlap

6.3%by weight

Expense ratio

ACWV −0.10pt a year

ACWV0.20%IMTM0.30%

Avg volume · 30D

IMTM 3.8×the volume

ACWV93.5KIMTM354K

10Y return · a year

IMTM +2.2pt

ACWV+8.1%IMTM+10.3%

ACWV vs IMTM Performance

Oct 29, 2021 – Oct 30, 2026

+36.6%ACWV+53.1%IMTM

Expense ratio: ACWV 0.20%, better; IMTM 0.30%
Fund size: ACWV $3.44B; IMTM $4.17B
1Y total return: ACWV +11.7%; IMTM +12.1%, better
Yield (12M): ACWV 1.83%; IMTM 4.56%, better
Holdings: ACWV 407; IMTM 314
Avg volume (30D): ACWV 93.5K sh; IMTM 354K sh, better
NAV per share: ACWV $129.38; IMTM $50.91
52W range

ETF.net Grade

Pillar letters and Scores for ACWV, IMTM, with each pillar’s weight
Pillar	ACWV	IMTM
Cost30% weight	A89Higher	B61
Mission25% weight	D25	Not scored
Risk15% weight	A77Higher	D39
Tradability15% weight	A83Higher	A72
Holdings10% weight	A76Higher	C50
Durability5% weight	A76	A76

Rank among International Factor Index funds

How we build Categories ›

Same Category. ACWV and IMTM are both graded against the same 15 International Factor Index funds, so their Grades compare head to head.

International Factor Index⁠

Category · 15 funds

See all 15 ›

ACWV ranks 2nd and IMTM 7th of 15 funds in the International Factor Index Category.

Rank 1AEFAViShares MSCI EAFE Min Vol Factor ETFScore 75
Rank 2BACWViShares MSCI Global Min Vol Factor ETFScore 68
Rank 3BIDLVInvesco S&P International Developed Low Volatility ETFScore 66
Rank 6BTLTDNorthern Trust Morningstar Developed Markets ex-US Factor Tilt ETFScore 59
Rank 7BIMTMiShares MSCI Intl Momentum Factor ETFScore 58
Rank 7BVDGVanguard Developed Markets ex US Growth Index ETFScore 58

Our read on each fund

ETF.net Research

ACWVBiShares MSCI Global Min Vol Factor ETF

IMTMBiShares MSCI Intl Momentum Factor ETF

In short

ACWV Global min vol in one ticker: an optimizer sifts the MSCI ACWI universe, developed and emerging, for the lowest-risk mix of roughly 400 stocks. Same playbook since 2011, at 0.20% a year.

IMTM Momentum investing usually stops at the US border. IMTM runs the same idea across developed markets outside America, holding roughly 300 stocks picked for strong price momentum and reshuffling as leadership changes hands.

Stated mandate

ACWV The fund seeks to track an index of developed and emerging market equities that collectively exhibit lower volatility than the broader developed and emerging equity markets.

IMTM The fund seeks to follow an index of developed-market international equities selected for relatively strong price momentum.

Why people hold it

ACWV 0.20% a year for a globally optimized factor build, well under the 0.41% median for international factor ETFs.
Not a simple low-vol screen. The index optimizes the MSCI ACWI for the lowest absolute risk within a set of constraints, so how stocks move together shapes the weights.msci.com
One ticker for the whole map. The developed-only sibling EFAV charges the same 0.20%; ACWV folds emerging markets into the same wrapper.
Running since 2011 with billions in assets, it sits among the stronger implementations in its international factor peer group.

IMTM Charges 0.30%, half the typical fee among international active-equity funds, and undercuts factor peers like AVDS while sitting near AVDE and DFIC.
A rare pure-momentum sleeve for developed markets outside the US, where most factor money never leaves home.
Live since 2015 and now a multi-billion-dollar iShares fund, so it has a decade of track record and real trading depth behind it.
Ranks in the top quartile of its international equity peer group on our review, one of the stronger implementations in the category.

Worth knowing

ACWV Minimum volatility is the aim, not a floor. iShares states the fund may experience more than minimum volatility, with no guarantee the index strategy lowers it.ishares.com
Emerging markets ride along inside this defensive build, bringing the political and economic swings iShares flags as heightened in those markets.ishares.com
By design it leans away from the cap-weighted world index, so its country and sector mix can look quite different and its path can diverge in either direction.msci.com

IMTM Momentum chases what is already working, so the portfolio can tilt hard toward whichever countries and sectors are hot and swing more than a broad index.
Roughly 300 developed-market names means no emerging markets and a narrower bench than a total international fund.
Distributions arrive once or twice a year, not monthly, and it trades moderately rather than at mega-fund volumes.

Full ACWV profile⁠

Full IMTM profile⁠

ACWV vs IMTM Holdings

How ACWV and IMTM differ

Overlap by weight

6.3%

Shared holdings make up 15.7% of IMTM and 9.2% of ACWV.

Level by level

Holdings33 in both6.3%
Countryby domicile16.0%
Sector11 Sectors59.8%
Asset classEquity100%

Sector

Sector weights in ACWV and IMTM, widest gap first
Sector	More in ACWVMore in IMTM	ACWV	IMTM
Financials	IMTM +22.2 points	14.5%	36.7%
Technology	ACWV +11.4 points	26.5%	15.1%
Communication	ACWV +9.8 points	10.4%	0.6%
Consumer Staples	ACWV +7.1 points	9.8%	2.7%
Energy	IMTM +7.1 points	4.5%	11.6%
Health Care	ACWV +6.7 points	13.7%	7.0%
Materials	IMTM +5.6 points	0.9%	6.5%
Industrials	IMTM +5.2 points	7.0%	12.2%
Utilities	ACWV +3.2 points	7.4%	4.2%
Consumer Discretionary	ACWV +2.0 points	4.8%	2.8%
Real Estate	ACWV +0.1 points	0.7%	0.6%

Country, concentration and asset class

Country by domicile

Country weights in ACWV and IMTM, widest gap first
Country	More in ACWVMore in IMTM	ACWV	IMTM
United States	ACWV +66.6 points	66.6%	0.0%
Canada	IMTM +18.2 points	1.5%	19.7%
Japan	IMTM +15.6 points	11.5%	27.1%
United Kingdom	IMTM +11.2 points	0.0%	11.2%
Netherlands	IMTM +7.2 points	0.0%	7.2%
China	ACWV +6.8 points	6.8%	0.0%
Switzerland	IMTM +5.9 points	1.8%	7.7%
Spain	IMTM +5.3 points	0.0%	5.3%
Other countries (11)	IMTM +10.0 points	11.8%	21.8%

Outside the US: ACWV 51% developed, 49% emerging. IMTM 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

ACWV12.1%
IMTM24.6%

Securities held

ACWV378
IMTM297

Asset class

ACWV: Equity
IMTM: Equity

Holdings

Only in ACWV345
In both33
Only in IMTM264

Only in ACWV

345 securities, 90.8% of ACWV by weight

Johnson & Johnson1.48%
Microsoft1.35%
Motorola Solutions Inc1.34%
Cisco Systems Inc1.33%
Duke Energy Corp1.18%
Taiwan Semiconductor Manufacturing1.17%
Berkshire Hathaway Inc Class B1.12%
Exxonmobil Holdings Corp1.06%
Southern1.04%
Cencora1.02%
Waste Management Inc1.01%
Chubb0.99%
Kddi0.97%
NVIDIA0.94%
Mckesson Corp0.94%
Republic Services Inc0.90%
Procter & Gamble0.84%
Coca-Cola0.84%
Bank of China Ltd H0.81%
Consolidated Edison0.81%
Softbank0.81%
Mcdonalds Corp0.80%
Pepsico0.79%
Roper Technologies0.78%
Wec Energy Group0.71%
Kroger0.69%
AT&T0.69%
Verizon Communications Inc0.68%
Visa Class A0.67%
Tjx0.66%
Ntt0.62%
Bharti Airtel Ltd0.62%
Monster Beverage0.62%
Autodesk0.62%
Walmart0.61%
Oreilly Automotive Inc0.60%
Teledyne Technologies0.59%
T Mobile Us Inc0.59%
Cme Group Class A0.59%
Constellation Software0.59%
Merck & Co Inc0.58%
Mondelez International Class A0.57%
Marsh0.57%
Vertex Pharmaceuticals0.56%
Welltower0.56%
AbbVie0.53%
Progressive0.50%
Verisign0.48%
Apple0.48%
Palantir Technologies Class A0.48%

Only in IMTM

264 securities, 84.3% of IMTM by weight

Royal Bank of Canada3.42%
Hsbc Holdings PLC2.63%
Toronto Dominion2.48%
Shell2.10%
Roche Ps Par AG2.01%
Totalenergies1.85%
Mitsubishi Ufj Financial Group1.72%
Advantest1.60%
Kioxia Holdings1.52%
Bhp Group Ltd1.47%
Canadian Imperial Bank of Commerce1.34%
Banco Santander1.29%
Sumitomo Mitsui Financial Group1.26%
Bank of Montreal1.19%
Allianz1.18%
Bank of Nova Scotia1.15%
Abb Ltd1.11%
Tokyo Electron1.07%
Suncor Energy Inc1.03%
Canadian Natural Resources Ltd1.02%
Oversea-Chinese Banking1.02%
Mizuho Financial Group0.99%
Banco Bilbao Vizcaya Argentaria0.98%
Murata Manufacturing0.91%
Bp PLC0.90%
Mitsubishi0.84%
Siemens Energy N AG0.78%
Panasonic Holdings0.76%
National Bank of Canada0.75%
Recruit Holdings Ltd0.73%
Enbridge0.72%
Fast Retailing0.71%
Rio Tinto0.70%
Ing Groep0.68%
British American Tobacco0.66%
Mitsui0.62%
Investor Class B0.60%
Glencore PLC0.57%
Manulife Financial0.56%
Glaxosmithkline0.53%
Infineon Technologies AG0.52%
Ubs Group AG0.50%
Mitsubishi Electric0.50%
Repsol0.50%
Enel0.49%
Cenovus Energy0.48%
Orix0.46%
Fujikura0.44%
Lloyds Banking Group PLC0.44%
Sumitomo Electric Industries0.44%

Weight gaps

All 33 Holdings in both funds, largest gap first.

Holding weights in ACWV and IMTM, widest gap first
Holding	More in ACWVMore in IMTM	ACWV	IMTM
Asml Holding	IMTM +4.26 points	0.41%	4.67%
Iberdrola	IMTM +1.29 points	0.08%	1.37%
Novartis AG	IMTM +1.24 points	0.88%	2.12%
Dbs Group Holdings Ltd	IMTM +0.84 points	0.29%	1.13%
Takeda Pharmaceutical	ACWV +0.51 points	0.97%	0.46%
Orange SA	ACWV +0.33 points	0.57%	0.24%
Japan Tobacco	IMTM +0.33 points	0.22%	0.55%
Nokia	IMTM +0.32 points	0.23%	0.55%
Sompo Holdings	IMTM +0.29 points	0.05%	0.34%
Fujifilm Holdings	ACWV +0.27 points	0.35%	0.08%
Secom	ACWV +0.25 points	0.32%	0.07%
Eni	IMTM +0.20 points	0.47%	0.67%
Otsuka Holdings	ACWV +0.19 points	0.43%	0.24%
Kyocera	ACWV +0.19 points	0.50%	0.31%
Stmicroelectronics	IMTM +0.16 points	0.14%	0.30%
Loblaw Companies Ltd	ACWV +0.16 points	0.33%	0.17%
Osaka Gas	ACWV +0.14 points	0.23%	0.09%
Singapore Technologies Engineering	ACWV +0.13 points	0.23%	0.10%
Chubu Electric Power Inc	ACWV +0.09 points	0.17%	0.08%
Yokogawa Electric	ACWV +0.08 points	0.12%	0.04%
Getlink	ACWV +0.08 points	0.11%	0.03%
Indra Sistemas SA	ACWV +0.07 points	0.11%	0.04%
Infratil Ltd	ACWV +0.06 points	0.09%	0.03%
Singapore Exchange	IMTM +0.05 points	0.07%	0.12%
Neste	ACWV +0.05 points	0.19%	0.14%
Screen Holdings Ltd	IMTM +0.05 points	0.04%	0.09%
Swire Pacific Ltd A	ACWV +0.04 points	0.07%	0.03%
Enlight Renewable Energy	IMTM +0.04 points	0.07%	0.11%
Keyence	IMTM +0.02 points	0.41%	0.43%
Kirin Holdings	IMTM +0.01 points	0.11%	0.12%
Telia Company	IMTM +0.01 points	0.08%	0.09%
Boc Hong Kong Holdings Ltd	Same weight	0.20%	0.20%
Inpex	ACWV +0.01 points	0.22%	0.21%

All 378 ACWV holdings⁠All 298 IMTM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ACWV vs IMTM Cost

Overpaying IMTM vs ACWV

$1,994

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ACWV 0.20%
$4,155
IMTM 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

ACWV 0.20%
IMTM 0.30%
Overpaying

Year by year

Year	ACWV	IMTM	Overpaying
10	$365	$545	$180
20	$1,421	$2,113	$692
30	$4,155	$6,149	$1,994

Expense ratio

0.20%ACWV, cheaper
0.30%IMTM

ACWV0.20%IMTM0.30%

0.08%0.65%

Middle half of International Factor Index funds
Median 0.34%

ACWV 2nd cheapest of 15 funds

IMTM 6th cheapest of 15 funds

ACWV vs IMTM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ACWV 1.83%; IMTM 4.56%, better
Payout (12M): ACWV $2.36; IMTM $2.32
Last payment: ACWV $1.07; IMTM $0.60
Ex-dividend: ACWV Jun 15, 2026; IMTM Jun 15, 2026
Paid on: ACWV Jun 18, 2026; IMTM Jun 18, 2026
Frequency: ACWV Twice a year; IMTM Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

ACWVTwice a year · 19 paymentsAll ACWV payments⁠

IMTMTwice a year · 20 paymentsAll IMTM payments⁠

ACWV vs IMTM Risk

Fall from peak · 5 years

ACWV
IMTM

Risk facts

VolatilityStd dev, 3 years: ACWV 8.7%, betterIMTM 12.8%
Return per unit of riskSharpe ratio, 3 years: ACWV 1.03IMTM 1.28, better
Worst fallMax drawdown, 5 years: ACWV −18.1%, betterIMTM −30.6%
Market sensitivityBeta, 5 years: ACWV 0.53IMTM 0.81; Market = 1

ACWV and IMTM in the news

All news⁠

New ETFs
Three new international stock funds, and none is the cheap one
Oct 5, 2026IMTM

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