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CSWG.L vs. MVED.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CSWG.L vs. MVED.L

Last updated Jun 5, 2026

CSWG.L (Amundi MSCI Switzerland UCITS ETF CHF) and MVED.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)) are both Europe Equities funds - CSWG.L tracks the MSCI Switzerland NR CHF while MVED.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, CSWG.L returned 7.85%/yr vs 6.21%/yr for MVED.L. A 0.54 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.

Performance

CSWG.L vs. MVED.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi MSCI Switzerland UCITS ETF CHF (CSWG.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

CSWG.L is traded in GBp, while MVED.L is traded in EUR. To make them comparable, the MVED.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with CSWG.L having a 3.71% return and MVED.L slightly higher at 3.88%.

CSWG.L

1D
1.34%
1M
2.57%
YTD
3.71%
6M
6.61%
1Y
15.88%
3Y*
9.05%
5Y*
7.85%
10Y*
10.09%

MVED.L

1D
0.45%
1M
0.80%
YTD
3.88%
6M
4.77%
1Y
5.26%
3Y*
8.28%
5Y*
6.21%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CSWG.L vs. MVED.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
CSWG.L
Amundi MSCI Switzerland UCITS ETF CHF		3.71%23.70%-0.86%8.57%-7.50%19.38%6.91%29.09%-0.25%
MVED.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)		3.88%14.60%3.94%8.51%-8.08%14.30%1.58%15.71%0.07%

Correlation

The correlation between CSWG.L and MVED.L is 0.69, 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

0.69

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

0.63

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

0.66

Correlation (All Time)
Calculated using the full available price history since Mar 1, 2018

0.54

The correlation between CSWG.L and MVED.L shifts across timeframes, from 0.54 (all time) to 0.69 (1 year), reflecting how their relationship changes across market environments.

CSWG.L vs. MVED.L - Sectors Allocation Comparison

Sectors
CSWG.L
MVED.L

Healthcare

38.2%
13.1%

Financial Services

19.7%
17.8%

Consumer Defensive

14.7%
13.2%

Industrials

13.1%
15.7%

Basic Materials

5.8%
5.7%

Consumer Cyclical

5.7%
3.7%

Energy

2.7%
6.9%

Communication Services

1.1%
9.5%

Technology

0.8%
2.8%

Real Estate

0.7%
1.6%

Utilities

0.2%
10.1%

Healthcare

CSWG.L
38.2%
MVED.L
13.1%

Financial Services

CSWG.L
19.7%
MVED.L
17.8%

Consumer Defensive

CSWG.L
14.7%
MVED.L
13.2%

Industrials

CSWG.L
13.1%
MVED.L
15.7%

Basic Materials

CSWG.L
5.8%
MVED.L
5.7%

Consumer Cyclical

CSWG.L
5.7%
MVED.L
3.7%

Energy

CSWG.L
2.7%
MVED.L
6.9%

Communication Services

CSWG.L
1.1%
MVED.L
9.5%

Technology

CSWG.L
0.8%
MVED.L
2.8%

Real Estate

CSWG.L
0.7%
MVED.L
1.6%

Utilities

CSWG.L
0.2%
MVED.L
10.1%

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Amundi MSCI Switzerland UCITS ETF CHF

iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)

Often compared with CSWG.L:
CSWG.L vs. VTCSWG.L vs. SPYCSWG.L vs. CS1.LCSWG.L vs. IMV.LCSWG.L vs. MIVO.LCSWG.L vs. FEUZ.LCSWG.L vs. CW8G.L
Often compared with MVED.L:
MVED.L vs. MIVO.LMVED.L vs. CSPX.LMVED.L vs. OPEN.LMVED.L vs. PRUK.LMVED.L vs. WDEP.LMVED.L vs. EDIV.LMVED.L vs. FKU.L

Return for Risk

CSWG.L vs. MVED.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CSWG.L
CSWG.L Risk / Return Rank: 3333
Overall Rank
CSWG.L Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
CSWG.L Sortino Ratio Rank: 3535
Sortino Ratio Rank
CSWG.L Omega Ratio Rank: 3636
Omega Ratio Rank
CSWG.L Calmar Ratio Rank: 2727
Calmar Ratio Rank
CSWG.L Martin Ratio Rank: 2929
Martin Ratio Rank
MVED.L
MVED.L Risk / Return Rank: 1313
Overall Rank
MVED.L Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
MVED.L Sortino Ratio Rank: 1212
Sortino Ratio Rank
MVED.L Omega Ratio Rank: 1313
Omega Ratio Rank
MVED.L Calmar Ratio Rank: 1313
Calmar Ratio Rank
MVED.L Martin Ratio Rank: 1313
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.

CSWG.L vs. MVED.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Switzerland UCITS ETF CHF (CSWG.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.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.

CSWG.LMVED.LDifference
Sharpe ratioReturn per unit of total volatility
1.27
0.57

+0.70

Sortino ratioReturn per unit of downside risk
1.82
0.83

+0.99

Omega ratioGain probability vs. loss probability

1.24

1.11

+0.13

Calmar ratioReturn relative to maximum drawdown

1.30

0.63

+0.66

Martin ratioReturn relative to average drawdown

4.16

1.79

+2.37

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

CSWG.L vs. MVED.L - Sharpe Ratio Comparison

The current CSWG.L Sharpe Ratio is 1.27, which is higher than the MVED.L Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of CSWG.L and MVED.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

CSWG.LMVED.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.27

0.57

+0.70

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.55

+0.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.03

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.05

0.49

+0.56

Drawdowns

CSWG.L vs. MVED.L - Drawdown Comparison

The maximum CSWG.L drawdown since its inception was -18.31%, smaller than the maximum MVED.L drawdown of -24.31%. Use the drawdown chart below to compare losses from any high point for CSWG.L and MVED.L.

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Drawdown Indicators

CSWG.LMVED.LDifference

Max Drawdown

Largest peak-to-trough decline

-18.31%

-24.31%

+6.00%

Max Drawdown (1Y)

Largest decline over 1 year

-12.52%

-8.28%

-4.24%

Max Drawdown (3Y)

Largest decline over 3 years

-12.52%

-8.28%

-4.24%

Max Drawdown (5Y)

Largest decline over 5 years

-16.26%

-17.36%

+1.10%

Max Drawdown (10Y)

Largest decline over 10 years

-18.31%

—

—

Current Drawdown

Current decline from peak

-4.76%

-5.32%

+0.56%

Average Drawdown

Average peak-to-trough decline

-4.18%

-4.10%

-0.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.86%

2.94%

+0.92%

Volatility

CSWG.L vs. MVED.L - Volatility Comparison

Amundi MSCI Switzerland UCITS ETF CHF (CSWG.L) has a higher volatility of 4.02% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.L) at 2.98%. This indicates that CSWG.L's price experiences larger fluctuations and is considered to be riskier than MVED.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CSWG.LMVED.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.02%

2.98%

+1.04%

Volatility (6M)

Calculated over the trailing 6-month period

10.38%

7.68%

+2.70%

Volatility (1Y)

Calculated over the trailing 1-year period

12.75%

9.18%

+3.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.27%

11.29%

+2.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.57%

12.95%

+5.62%

CSWG.L vs. MVED.L - Expense Ratio Comparison

Both CSWG.L and MVED.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

CSWG.L vs. MVED.L - Dividend Comparison

Neither CSWG.L nor MVED.L has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018
CSWG.L
Amundi MSCI Switzerland UCITS ETF CHF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
MVED.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)		0.00%0.00%0.00%2.67%2.95%2.16%2.54%2.81%2.50%

Frequently Asked Questions

CSWG.L and MVED.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

CSWG.L and MVED.L have the same expense ratio: 0.25% per year.

CSWG.L tracks MSCI Switzerland NR CHF, while MVED.L tracks MSCI Europe NR EUR. They also come from different issuers: Amundi and BlackRock.

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