EMUM.L vs. MVED.L
EMUM.L (iShares MSCI EMU Mid Cap UCITS ETF EUR (Acc)) and MVED.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)) are both Europe Equities funds - EMUM.L tracks the MSCI EMU Mid Cap Net Index while MVED.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 3 years, EMUM.L returned 19.92%/yr vs 11.83%/yr for MVED.L. At a 0.23 correlation, their price movements are largely independent. EMUM.L charges 0.49%/yr vs 0.25%/yr for MVED.L.
Performance
EMUM.L vs. MVED.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 higher than MVED.L's 8.45% return.
EMUM.L
- 1D
- -0.66%
- 1M
- 0.95%
- 6M
- 10.50%
- YTD
- 13.16%
- 1Y
- 20.57%
- 3Y*
- 19.92%
- 5Y*
- —
- 10Y*
- —
MVED.L
- 1D
- -0.13%
- 1M
- 1.36%
- 6M
- 6.60%
- YTD
- 8.45%
- 1Y
- 11.37%
- 3Y*
- 11.83%
- 5Y*
- 7.01%
- 10Y*
- —
EMUM.L vs. MVED.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% |
MVED.L iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) | 8.45% | 11.81% | 11.70% | 10.68% | -9.20% |
Correlation
The correlation between EMUM.L and MVED.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2022 | 0.23 |
Over the past year, EMUM.L and MVED.L have become more correlated (0.49) than their long-term average of 0.23, meaning their price movements have been converging.
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Return for Risk
EMUM.L vs. MVED.L — Risk / Return Rank
EMUM.L
MVED.L
EMUM.L vs. MVED.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 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.
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 | MVED.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.24 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 1.62 | +1.11 |
| Martin ratioReturn relative to average drawdown | 9.65 | 4.91 | +4.74 |
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Drawdowns
EMUM.L vs. MVED.L - Drawdown Comparison
The maximum EMUM.L drawdown since its inception was -23.13%, smaller than the maximum MVED.L drawdown of -30.52%. Use the drawdown chart below to compare losses from any high point for EMUM.L and MVED.L.
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Drawdown Indicators
| EMUM.L | MVED.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.13% | -30.52% | +7.39% |
Max Drawdown (1Y)Largest decline over 1 year | -7.87% | -7.01% | -0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -14.40% | -10.47% | -3.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.58% | — |
Current DrawdownCurrent decline from peak | -1.26% | -0.67% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -2.58% | -5.03% | +2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 2.31% | -0.10% |
Volatility
EMUM.L vs. MVED.L - Volatility Comparison
iShares MSCI EMU Mid Cap UCITS ETF EUR (Acc) (EMUM.L) has a higher volatility of 3.11% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.L) at 2.77%. This indicates that EMUM.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
| EMUM.L | MVED.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.11% | 2.77% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 10.59% | 7.47% | +3.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.17% | 8.96% | +4.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.57% | 11.02% | +14.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.57% | 12.59% | +12.98% |
EMUM.L vs. MVED.L - Expense Ratio Comparison
EMUM.L has a 0.49% expense ratio, which is higher than MVED.L's 0.25% expense ratio.
Dividends
EMUM.L vs. MVED.L - Dividend Comparison
EMUM.L has not paid dividends to shareholders, while MVED.L's dividend yield for the trailing twelve months is around 2.52%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMUM.L iShares MSCI EMU Mid Cap UCITS ETF EUR (Acc) | 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) | 2.52% | 2.69% | 2.56% | 2.67% | 2.95% | 2.16% | 2.54% | 2.81% | 2.51% |
Frequently Asked Questions
EMUM.L and MVED.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MVED.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MVED.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 MVED.L tracks MSCI Europe NR EUR. They also come from different issuers: iShares and BlackRock. Their fees differ too: 0.49% for EMUM.L and 0.25% for MVED.L.
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