PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EMUD.L vs. MVEU.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMUD.L vs. MVEU.L

Last updated Jun 6, 2026

EMUD.L (iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist)) and MVEU.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)) are both Europe Equities funds from iShares - EMUD.L tracks the MSCI EMU NR EUR while MVEU.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, EMUD.L returned 10.33%/yr vs 7.61%/yr for MVEU.L. A 0.75 correlation means they provide meaningful diversification when combined. EMUD.L charges 0.12%/yr vs 0.25%/yr for MVEU.L.

Performance

EMUD.L vs. MVEU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist) (EMUD.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

EMUD.L is traded in GBP, while MVEU.L is traded in EUR. To make them comparable, the MVEU.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, EMUD.L achieves a 7.24% return, which is significantly higher than MVEU.L's 5.34% return.

EMUD.L

1D
-0.77%
1M
1.58%
YTD
7.24%
6M
8.92%
1Y
19.93%
3Y*
15.66%
5Y*
10.33%
10Y*
—

MVEU.L

1D
0.30%
1M
0.16%
YTD
5.34%
6M
6.41%
1Y
8.39%
3Y*
10.57%
5Y*
7.61%
10Y*
7.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMUD.L vs. MVEU.L - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
EMUD.L
iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist)		7.24%28.28%5.84%16.22%-6.92%14.62%7.63%-1.68%
MVEU.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)		5.34%17.63%6.71%8.45%-8.16%14.46%1.57%10.93%

Correlation

The correlation between EMUD.L and MVEU.L is 0.61, 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

0.61

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

0.67

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

0.73

Correlation (All Time)
Calculated using the full available price history since Mar 11, 2019

0.75

The correlation between EMUD.L and MVEU.L shifts across timeframes, from 0.61 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

EMUD.L vs. MVEU.L - Sectors Allocation Comparison

Sectors
EMUD.L
MVEU.L

Financial Services

24.6%
17.6%

Industrials

20.5%
14.8%

Technology

17.0%
2.8%

Consumer Cyclical

6.9%
3.8%

Utilities

6.7%
10.2%

Healthcare

5.7%
12.8%

Consumer Defensive

5.6%
13.1%

Communication Services

5.2%
9.6%

Energy

3.2%
7.0%

Basic Materials

2.2%
5.5%

Real Estate

1.5%
1.6%

Financial Services

EMUD.L
24.6%
MVEU.L
17.6%

Industrials

EMUD.L
20.5%
MVEU.L
14.8%

Technology

EMUD.L
17.0%
MVEU.L
2.8%

Consumer Cyclical

EMUD.L
6.9%
MVEU.L
3.8%

Utilities

EMUD.L
6.7%
MVEU.L
10.2%

Healthcare

EMUD.L
5.7%
MVEU.L
12.8%

Consumer Defensive

EMUD.L
5.6%
MVEU.L
13.1%

Communication Services

EMUD.L
5.2%
MVEU.L
9.6%

Energy

EMUD.L
3.2%
MVEU.L
7.0%

Basic Materials

EMUD.L
2.2%
MVEU.L
5.5%

Real Estate

EMUD.L
1.5%
MVEU.L
1.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist)

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

Often compared with EMUD.L:
EMUD.L vs. GLDEMUD.L vs. LDEG.LEMUD.L vs. MVED.LEMUD.L vs. CNDX.LEMUD.L vs. HDEU.LEMUD.L vs. IITU.LEMUD.L vs. IMV.L
Often compared with MVEU.L:
MVEU.L vs. SVOLMVEU.L vs. VTMVEU.L vs. FLXD.LMVEU.L vs. CS1.LMVEU.L vs. CSP1.LMVEU.L vs. IITU.LMVEU.L vs. EUHD.L

Return for Risk

EMUD.L vs. MVEU.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMUD.L
EMUD.L Risk / Return Rank: 4343
Overall Rank
EMUD.L Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
EMUD.L Sortino Ratio Rank: 4545
Sortino Ratio Rank
EMUD.L Omega Ratio Rank: 4545
Omega Ratio Rank
EMUD.L Calmar Ratio Rank: 3939
Calmar Ratio Rank
EMUD.L Martin Ratio Rank: 4242
Martin Ratio Rank
MVEU.L
MVEU.L Risk / Return Rank: 2121
Overall Rank
MVEU.L Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
MVEU.L Sortino Ratio Rank: 2020
Sortino Ratio Rank
MVEU.L Omega Ratio Rank: 2020
Omega Ratio Rank
MVEU.L Calmar Ratio Rank: 2020
Calmar Ratio Rank
MVEU.L Martin Ratio Rank: 2121
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.

EMUD.L vs. MVEU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist) (EMUD.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.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.

EMUD.LMVEU.LDifference
Sharpe ratioReturn per unit of total volatility
1.39
0.94

+0.45

Sortino ratioReturn per unit of downside risk
2.01
1.33

+0.68

Omega ratioGain probability vs. loss probability

1.26

1.17

+0.09

Calmar ratioReturn relative to maximum drawdown

1.74

1.00

+0.73

Martin ratioReturn relative to average drawdown

6.12

3.09

+3.03

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

EMUD.L vs. MVEU.L - Sharpe Ratio Comparison

The current EMUD.L Sharpe Ratio is 1.39, which is higher than the MVEU.L Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of EMUD.L and MVEU.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.

Loading charts...

Sharpe Ratios by Period

EMUD.LMVEU.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.39

0.94

+0.45

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.64

0.67

-0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.61

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.69

-0.18

Drawdowns

EMUD.L vs. MVEU.L - Drawdown Comparison

The maximum EMUD.L drawdown since its inception was -30.31%, which is greater than MVEU.L's maximum drawdown of -23.74%. Use the drawdown chart below to compare losses from any high point for EMUD.L and MVEU.L.

Loading charts...

Drawdown Indicators

EMUD.LMVEU.LDifference

Max Drawdown

Largest peak-to-trough decline

-30.31%

-23.74%

-6.57%

Max Drawdown (1Y)

Largest decline over 1 year

-11.43%

-8.32%

-3.11%

Max Drawdown (3Y)

Largest decline over 3 years

-12.65%

-8.32%

-4.33%

Max Drawdown (5Y)

Largest decline over 5 years

-22.28%

-17.42%

-4.86%

Max Drawdown (10Y)

Largest decline over 10 years

—

-23.74%

—

Current Drawdown

Current decline from peak

-1.03%

-4.05%

+3.02%

Average Drawdown

Average peak-to-trough decline

-5.21%

-3.52%

-1.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.25%

2.71%

+0.54%

Volatility

EMUD.L vs. MVEU.L - Volatility Comparison

iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist) (EMUD.L) has a higher volatility of 3.80% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L) at 2.44%. This indicates that EMUD.L's price experiences larger fluctuations and is considered to be riskier than MVEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

EMUD.LMVEU.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.80%

2.44%

+1.36%

Volatility (6M)

Calculated over the trailing 6-month period

11.85%

7.39%

+4.46%

Volatility (1Y)

Calculated over the trailing 1-year period

14.29%

8.87%

+5.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.24%

11.29%

+4.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.47%

12.66%

+5.81%

EMUD.L vs. MVEU.L - Expense Ratio Comparison

EMUD.L has a 0.12% expense ratio, which is lower than MVEU.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EMUD.L vs. MVEU.L - Dividend Comparison

EMUD.L's dividend yield for the trailing twelve months is around 2.79%, while MVEU.L has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019
EMUD.L
iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist)		2.79%3.00%3.54%3.13%3.23%2.45%1.87%3.04%
MVEU.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

EMUD.L and MVEU.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, EMUD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EMUD.L is cheaper with a 0.12% expense ratio, compared with 0.25% for MVEU.L.

EMUD.L tracks MSCI EMU NR EUR, while MVEU.L tracks MSCI Europe NR EUR. Their fees differ too: 0.12% for EMUD.L and 0.25% for MVEU.L.

Portfolio Optimizer

Find the right allocation for EMUD.L and MVEU.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer