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EVAL.L vs. IEDL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EVAL.L vs. IEDL.L

Last updated Jun 5, 2026

EVAL.L (SPDR MSCI Europe Value UCITS ETF) and IEDL.L (iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist)) are both Europe Equities funds tracking the MSCI Europe Value NR EUR, from State Street and iShares respectively. Both are passively managed. Over the past 5 years, EVAL.L returned 14.15%/yr vs 14.62%/yr for IEDL.L. Their correlation of 0.90 suggests significant overlap in exposure. EVAL.L charges 0.20%/yr vs 0.25%/yr for IEDL.L.

Performance

EVAL.L vs. IEDL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI Europe Value UCITS ETF (EVAL.L) and iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist) (IEDL.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, EVAL.L achieves a 11.21% return, which is significantly lower than IEDL.L's 13.19% return.

EVAL.L

1D
0.67%
1M
4.21%
YTD
11.21%
6M
14.15%
1Y
34.42%
3Y*
20.71%
5Y*
14.15%
10Y*
11.80%

IEDL.L

1D
0.03%
1M
4.86%
YTD
13.19%
6M
15.86%
1Y
36.33%
3Y*
21.75%
5Y*
14.62%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EVAL.L vs. IEDL.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
EVAL.L
SPDR MSCI Europe Value UCITS ETF		11.21%41.81%4.36%11.02%1.33%19.13%-2.54%16.22%-16.25%
IEDL.L
iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist)		13.19%42.22%5.44%11.24%1.22%19.20%-3.60%14.87%-10.37%

Correlation

The correlation between EVAL.L and IEDL.L is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.93

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

0.91

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

0.92

Correlation (All Time)
Calculated using the full available price history since Feb 28, 2018

0.90

The correlation between EVAL.L and IEDL.L has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

EVAL.L vs. IEDL.L - Sectors Allocation Comparison

Sectors
EVAL.L
IEDL.L

Financial Services

21.5%
22.6%

Industrials

18.0%
17.0%

Healthcare

13.2%
12.3%

Technology

10.6%
12.2%

Consumer Defensive

8.6%
8.6%

Consumer Cyclical

6.6%
6.2%

Basic Materials

6.2%
6.2%

Energy

5.5%
5.1%

Utilities

5.3%
4.5%

Communication Services

4.0%
3.7%

Real Estate

0.7%
0.6%

Financial Services

EVAL.L
21.5%
IEDL.L
22.6%

Industrials

EVAL.L
18.0%
IEDL.L
17.0%

Healthcare

EVAL.L
13.2%
IEDL.L
12.3%

Technology

EVAL.L
10.6%
IEDL.L
12.2%

Consumer Defensive

EVAL.L
8.6%
IEDL.L
8.6%

Consumer Cyclical

EVAL.L
6.6%
IEDL.L
6.2%

Basic Materials

EVAL.L
6.2%
IEDL.L
6.2%

Energy

EVAL.L
5.5%
IEDL.L
5.1%

Utilities

EVAL.L
5.3%
IEDL.L
4.5%

Communication Services

EVAL.L
4.0%
IEDL.L
3.7%

Real Estate

EVAL.L
0.7%
IEDL.L
0.6%

Compare stocks, funds, or ETFs

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SPDR MSCI Europe Value UCITS ETF

iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist)

Often compared with EVAL.L:
EVAL.L vs. IEFV.LEVAL.L vs. AVESEVAL.L vs. VTEVAL.L vs. VOOEVAL.L vs. SPYEVAL.L vs. CACX.LEVAL.L vs. SPX4.L
Often compared with IEDL.L:
IEDL.L vs. S7XP.LIEDL.L vs. XHYG.DEIEDL.L vs. MVEW.DEIEDL.L vs. T3KE.DEIEDL.L vs. EUMD.LIEDL.L vs. CNX1.LIEDL.L vs. VEUR.L

Return for Risk

EVAL.L vs. IEDL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EVAL.L
EVAL.L Risk / Return Rank: 7676
Overall Rank
EVAL.L Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
EVAL.L Sortino Ratio Rank: 8080
Sortino Ratio Rank
EVAL.L Omega Ratio Rank: 8181
Omega Ratio Rank
EVAL.L Calmar Ratio Rank: 6969
Calmar Ratio Rank
EVAL.L Martin Ratio Rank: 6969
Martin Ratio Rank
IEDL.L
IEDL.L Risk / Return Rank: 7272
Overall Rank
IEDL.L Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
IEDL.L Sortino Ratio Rank: 7474
Sortino Ratio Rank
IEDL.L Omega Ratio Rank: 7575
Omega Ratio Rank
IEDL.L Calmar Ratio Rank: 6969
Calmar Ratio Rank
IEDL.L Martin Ratio Rank: 6868
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.

EVAL.L vs. IEDL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Value UCITS ETF (EVAL.L) and iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist) (IEDL.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.

EVAL.LIEDL.LDifference
Sharpe ratioReturn per unit of total volatility
2.63
2.68

-0.06

Sortino ratioReturn per unit of downside risk
3.52
3.61

-0.09

Omega ratioGain probability vs. loss probability

1.47

1.48

-0.01

Calmar ratioReturn relative to maximum drawdown

3.39

3.43

-0.04

Martin ratioReturn relative to average drawdown

12.59

12.68

-0.09

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

EVAL.L vs. IEDL.L - Sharpe Ratio Comparison

The current EVAL.L Sharpe Ratio is 2.63, which is comparable to the IEDL.L Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of EVAL.L and IEDL.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

EVAL.LIEDL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.63

2.68

-0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.98

0.95

+0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.59

-0.22

Drawdowns

EVAL.L vs. IEDL.L - Drawdown Comparison

The maximum EVAL.L drawdown since its inception was -40.72%, which is greater than IEDL.L's maximum drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for EVAL.L and IEDL.L.

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Drawdown Indicators

EVAL.LIEDL.LDifference

Max Drawdown

Largest peak-to-trough decline

-40.72%

-34.37%

-6.35%

Max Drawdown (1Y)

Largest decline over 1 year

-10.10%

-10.54%

+0.44%

Max Drawdown (3Y)

Largest decline over 3 years

-14.35%

-16.23%

+1.88%

Max Drawdown (5Y)

Largest decline over 5 years

-14.61%

-16.28%

+1.67%

Max Drawdown (10Y)

Largest decline over 10 years

-37.77%

—

—

Current Drawdown

Current decline from peak

-1.61%

-0.80%

-0.81%

Average Drawdown

Average peak-to-trough decline

-11.10%

-5.72%

-5.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.73%

2.86%

-0.13%

Volatility

EVAL.L vs. IEDL.L - Volatility Comparison

The current volatility for SPDR MSCI Europe Value UCITS ETF (EVAL.L) is 4.12%, while iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist) (IEDL.L) has a volatility of 4.75%. This indicates that EVAL.L experiences smaller price fluctuations and is considered to be less risky than IEDL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EVAL.LIEDL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.12%

4.75%

-0.63%

Volatility (6M)

Calculated over the trailing 6-month period

10.49%

11.06%

-0.57%

Volatility (1Y)

Calculated over the trailing 1-year period

13.05%

13.48%

-0.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.45%

15.30%

-0.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.97%

17.59%

-0.62%

EVAL.L vs. IEDL.L - Expense Ratio Comparison

EVAL.L has a 0.20% expense ratio, which is lower than IEDL.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

EVAL.L vs. IEDL.L - Dividend Comparison

EVAL.L has not paid dividends to shareholders, while IEDL.L's dividend yield for the trailing twelve months is around 3.01%.

PositionTTM20252024202320222021202020192018
EVAL.L
SPDR MSCI Europe Value UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IEDL.L
iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist)		3.01%3.44%4.22%4.76%4.23%3.56%2.32%3.86%3.19%

Frequently Asked Questions

With a correlation of 0.93, EVAL.L and IEDL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, EVAL.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EVAL.L is cheaper with a 0.20% expense ratio, compared with 0.25% for IEDL.L.

Both ETFs track MSCI Europe Value NR EUR. They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for EVAL.L and 0.25% for IEDL.L.

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