EMUM.L vs. IEVL.L
EMUM.L (iShares MSCI EMU Mid Cap UCITS ETF EUR (Acc)) and IEVL.L (iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating) are both Europe Equities funds from iShares - EMUM.L tracks the MSCI EMU Mid Cap Net Index while IEVL.L tracks the MSCI Europe Enhanced Value Index. Both are passively managed. Over the past 3 years, EMUM.L returned 19.92%/yr vs 21.76%/yr for IEVL.L. At a 0.36 correlation, their price movements are largely independent. EMUM.L charges 0.49%/yr vs 0.25%/yr for IEVL.L.
Performance
EMUM.L vs. IEVL.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMUM.L achieves a 13.16% return, which is significantly lower than IEVL.L's 16.34% return.
EMUM.L
- 1D
- -0.66%
- 1M
- 0.95%
- 6M
- 10.50%
- YTD
- 13.16%
- 1Y
- 20.57%
- 3Y*
- 19.92%
- 5Y*
- —
- 10Y*
- —
IEVL.L
- 1D
- -0.07%
- 1M
- 1.17%
- 6M
- 13.20%
- YTD
- 16.34%
- 1Y
- 34.34%
- 3Y*
- 21.76%
- 5Y*
- 15.56%
- 10Y*
- 11.11%
EMUM.L vs. IEVL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EMUM.L iShares MSCI EMU Mid Cap UCITS ETF EUR (Acc) | 13.16% | 31.38% | 11.63% | 9.56% | -14.55% |
IEVL.L iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating | 16.34% | 35.04% | 10.57% | 13.52% | -8.58% |
Correlation
The correlation between EMUM.L and IEVL.L is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2022 | 0.36 |
Over the past year, EMUM.L and IEVL.L have become more correlated (0.67) than their long-term average of 0.36, meaning their price movements have been converging.
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Return for Risk
EMUM.L vs. IEVL.L — Risk / Return Rank
EMUM.L
IEVL.L
EMUM.L vs. IEVL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU Mid Cap UCITS ETF EUR (Acc) (EMUM.L) and iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.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.
| EMUM.L | IEVL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.44 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 3.49 | -0.77 |
| Martin ratioReturn relative to average drawdown | 9.65 | 13.14 | -3.49 |
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Drawdowns
EMUM.L vs. IEVL.L - Drawdown Comparison
The maximum EMUM.L drawdown since its inception was -23.13%, smaller than the maximum IEVL.L drawdown of -40.09%. Use the drawdown chart below to compare losses from any high point for EMUM.L and IEVL.L.
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Drawdown Indicators
| EMUM.L | IEVL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.13% | -40.09% | +16.96% |
Max Drawdown (1Y)Largest decline over 1 year | -7.87% | -9.79% | +1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -14.40% | -17.43% | +3.03% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.55% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.09% | — |
Current DrawdownCurrent decline from peak | -1.26% | -1.07% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -2.58% | -7.43% | +4.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 2.61% | -0.40% |
Volatility
EMUM.L vs. IEVL.L - Volatility Comparison
The current volatility for iShares MSCI EMU Mid Cap UCITS ETF EUR (Acc) (EMUM.L) is 3.11%, while iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.L) has a volatility of 4.24%. This indicates that EMUM.L experiences smaller price fluctuations and is considered to be less risky than IEVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMUM.L | IEVL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.11% | 4.24% | -1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 10.59% | 11.83% | -1.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.17% | 14.14% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.57% | 15.37% | +10.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.57% | 17.28% | +8.29% |
EMUM.L vs. IEVL.L - Expense Ratio Comparison
EMUM.L has a 0.49% expense ratio, which is higher than IEVL.L's 0.25% expense ratio.
Dividends
EMUM.L vs. IEVL.L - Dividend Comparison
Neither EMUM.L nor IEVL.L has paid dividends to shareholders.
Frequently Asked Questions
EMUM.L and IEVL.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEVL.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEVL.L is cheaper with a 0.25% expense ratio, compared with 0.49% for EMUM.L.
EMUM.L tracks MSCI EMU Mid Cap Net Index, while IEVL.L tracks MSCI Europe Enhanced Value Index. Their fees differ too: 0.49% for EMUM.L and 0.25% for IEVL.L.
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