CUKS.L vs. IEFV.L

Last updated Jun 26, 2026

CUKS.L (iShares MSCI UK Small Cap UCITS ETF (Acc)) and IEFV.L (iShares Edge MSCI Europe Value Factor UCITS ETF) are both Europe Equities funds from iShares - CUKS.L tracks the FTSE Small Cap Ex Invest Trust TR GBP while IEFV.L tracks the MSCI Europe Value NR EUR. Both are passively managed. Over the past 10 years, CUKS.L returned 6.40%/yr vs 12.59%/yr for IEFV.L. A 0.68 correlation means they provide meaningful diversification when combined. CUKS.L charges 0.58%/yr vs 0.25%/yr for IEFV.L.

Performance

CUKS.L vs. IEFV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI UK Small Cap UCITS ETF (Acc) (CUKS.L) and iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CUKS.L achieves a 3.89% return, which is significantly lower than IEFV.L's 14.64% return. Over the past 10 years, CUKS.L has underperformed IEFV.L with an annualized return of 6.40%, while IEFV.L has yielded a comparatively higher 12.59% annualized return.

CUKS.L

• 1D: 0.53%
• 1M: 0.27%
• YTD: 3.89%
• 6M: 4.43%
• 1Y: 10.46%
• 3Y*: 12.19%
• 5Y*: 1.72%
• 10Y*: 6.40%

IEFV.L

• 1D: 1.36%
• 1M: 1.12%
• YTD: 14.64%
• 6M: 15.38%
• 1Y: 38.77%
• 3Y*: 22.78%
• 5Y*: 15.04%
• 10Y*: 12.59%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CUKS.L vs. IEFV.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CUKS.L iShares MSCI UK Small Cap UCITS ETF (Acc)	3.89%	14.90%	5.74%	9.76%	-22.81%	14.33%	-6.24%	29.73%	-15.36%	20.13%
IEFV.L iShares Edge MSCI Europe Value Factor UCITS ETF	14.64%	42.20%	5.40%	11.41%	1.47%	18.58%	-3.74%	15.71%	-12.67%	14.28%

Correlation

The correlation between CUKS.L and IEFV.L is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015	0.68

The correlation between CUKS.L and IEFV.L has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.

CUKS.L vs. IEFV.L - Sectors Allocation Comparison

Sectors	CUKS.L	IEFV.L
Financial Services	23.3%	23.6%
Industrials	20.6%	18.8%
Consumer Cyclical	18.1%	6.5%
Real Estate	8.5%	0.7%
Communication Services	6.8%	3.6%
Basic Materials	6.0%	5.5%
Consumer Defensive	3.9%	8.6%
Technology	3.8%	9.7%
Energy	3.3%	5.2%
Healthcare	3.1%	13.2%
Utilities	2.6%	4.8%

Return for Risk

CUKS.L vs. IEFV.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CUKS.L

CUKS.L Risk / Return Rank: 22
CUKS.L Sharpe Ratio Rank: 23
CUKS.L Sortino Ratio Rank: 22
CUKS.L Omega Ratio Rank: 22
CUKS.L Calmar Ratio Rank: 20
CUKS.L Martin Ratio Rank: 23

IEFV.L

IEFV.L Risk / Return Rank: 87
IEFV.L Sharpe Ratio Rank: 93
IEFV.L Sortino Ratio Rank: 92
IEFV.L Omega Ratio Rank: 92
IEFV.L Calmar Ratio Rank: 79
IEFV.L Martin Ratio Rank: 79

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.

CUKS.L vs. IEFV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI UK Small Cap UCITS ETF (Acc) (CUKS.L) and iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.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.

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.

	CUKS.L	IEFV.L	Difference
Sharpe ratio: Return per unit of total volatility	0.76	2.88	-2.12
Sortino ratio: Return per unit of downside risk	1.19	3.91	-2.72
Omega ratio: Gain probability vs. loss probability	1.15	1.53	-0.38
Calmar ratio: Return relative to maximum drawdown	0.85	3.65	-2.80
Martin ratio: Return relative to average drawdown	2.66	13.42	-10.75

CUKS.L vs. IEFV.L - Sharpe Ratio Comparison

The current CUKS.L Sharpe Ratio is 0.76, which is lower than the IEFV.L Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of CUKS.L and IEFV.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.

Drawdowns

CUKS.L vs. IEFV.L - Drawdown Comparison

The maximum CUKS.L drawdown since its inception was -42.42%, which is greater than IEFV.L's maximum drawdown of -34.64%. Use the drawdown chart below to compare losses from any high point for CUKS.L and IEFV.L.

Drawdown Indicators

	CUKS.L	IEFV.L	Difference
Max Drawdown Largest peak-to-trough decline	-42.42%	-34.64%	-7.78%
Max Drawdown (1Y) Largest decline over 1 year	-12.28%	-10.57%	-1.71%
Max Drawdown (3Y) Largest decline over 3 years	-16.88%	-15.02%	-1.86%
Max Drawdown (5Y) Largest decline over 5 years	-35.35%	-16.16%	-19.19%
Max Drawdown (10Y) Largest decline over 10 years	-42.42%	-34.64%	-7.78%
Current Drawdown Current decline from peak	-2.89%	0.00%	-2.89%
Average Drawdown Average peak-to-trough decline	-8.96%	-6.18%	-2.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.92%	2.88%	+1.04%

Volatility

CUKS.L vs. IEFV.L - Volatility Comparison

iShares MSCI UK Small Cap UCITS ETF (Acc) (CUKS.L) and iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) have volatilities of 3.73% and 3.84%, 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.

Volatility by Period

	CUKS.L	IEFV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	3.84%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	11.40%	11.09%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	13.64%	13.43%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.02%	17.10%	-1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.75%	17.58%	-0.83%

CUKS.L vs. IEFV.L - Expense Ratio Comparison

CUKS.L has a 0.58% expense ratio, which is higher than IEFV.L's 0.25% expense ratio.

Dividends

CUKS.L vs. IEFV.L - Dividend Comparison

Neither CUKS.L nor IEFV.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CUKS.L and IEFV.L in my portfolio?

CUKS.L and IEFV.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CUKS.L or IEFV.L?

On fees, IEFV.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CUKS.L or IEFV.L?

IEFV.L is cheaper with a 0.25% expense ratio, compared with 0.58% for CUKS.L.

What is the main difference between CUKS.L and IEFV.L?

CUKS.L tracks FTSE Small Cap Ex Invest Trust TR GBP, while IEFV.L tracks MSCI Europe Value NR EUR. Their fees differ too: 0.58% for CUKS.L and 0.25% for IEFV.L.