EVAL.L vs. IEFV.L

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR MSCI Europe Value UCITS ETF (EVAL.L) and iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L).

EVAL.L and IEFV.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVAL.L is a passively managed fund by State Street that tracks the performance of the MSCI Europe Value NR EUR. It was launched on Feb 18, 2015. IEFV.L is a passively managed fund by iShares that tracks the performance of the MSCI Europe Value NR EUR. It was launched on Jan 16, 2015. Both EVAL.L and IEFV.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EVAL.L vs. IEFV.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 (IEFV.L). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVAL.L SPDR MSCI Europe Value UCITS ETF	3.25%	41.81%	4.36%	11.02%	1.33%	19.13%	-2.54%	16.22%	-13.77%	15.54%
IEFV.L iShares Edge MSCI Europe Value Factor UCITS ETF	4.34%	42.20%	5.40%	11.41%	1.47%	18.58%	-3.74%	15.71%	-12.67%	14.28%

Different Trading Currencies

EVAL.L is traded in GBP, while IEFV.L is traded in GBp. To make them comparable, the IEFV.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 3.25% return, which is significantly lower than IEFV.L's 4.34% return. Both investments have delivered pretty close results over the past 10 years, with EVAL.L having a 11.33% annualized return and IEFV.L not far behind at 11.22%.

EVAL.L

• 1D: 2.17%
• 1M: -3.97%
• YTD: 3.25%
• 6M: 13.90%
• 1Y: 30.42%
• 3Y*: 17.31%
• 5Y*: 13.82%
• 10Y*: 11.33%

IEFV.L

• 1D: 2.37%
• 1M: -3.46%
• YTD: 4.34%
• 6M: 14.76%
• 1Y: 32.81%
• 3Y*: 18.04%
• 5Y*: 14.18%
• 10Y*: 11.22%

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

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

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

IEFV.L

iShares Edge MSCI Europe Value Factor UCITS ETF

EVAL.L

SPDR MSCI Europe Value UCITS ETF

Return for Risk

EVAL.L vs. IEFV.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: 89
EVAL.L Sharpe Ratio Rank: 90
EVAL.L Sortino Ratio Rank: 89
EVAL.L Omega Ratio Rank: 90
EVAL.L Calmar Ratio Rank: 89
EVAL.L Martin Ratio Rank: 87

IEFV.L

IEFV.L Risk / Return Rank: 90
IEFV.L Sharpe Ratio Rank: 92
IEFV.L Sortino Ratio Rank: 91
IEFV.L Omega Ratio Rank: 92
IEFV.L Calmar Ratio Rank: 90
IEFV.L Martin Ratio Rank: 88

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. IEFV.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 (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.

	EVAL.L	IEFV.L	Difference
Sharpe ratio Return per unit of total volatility	2.05	2.19	-0.14
Sortino ratio Return per unit of downside risk	2.60	2.72	-0.12
Omega ratio Gain probability vs. loss probability	1.39	1.42	-0.03
Calmar ratio Return relative to maximum drawdown	3.11	3.18	-0.07
Martin ratio Return relative to average drawdown	11.43	11.49	-0.06
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. IEFV.L - Sharpe Ratio Comparison

The current EVAL.L Sharpe Ratio is 2.05, which is comparable to the IEFV.L Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of EVAL.L and IEFV.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EVAL.L	IEFV.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	2.19	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.94	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.67	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.56	-0.22

Correlation

The correlation between EVAL.L and IEFV.L is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EVAL.L vs. IEFV.L - Dividend Comparison

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

Tickers have no history of dividend payments

Drawdowns

EVAL.L vs. IEFV.L - Drawdown Comparison

The maximum EVAL.L drawdown since its inception was -40.72%, 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 EVAL.L and IEFV.L.

Drawdown Indicators

	EVAL.L	IEFV.L	Difference
Max Drawdown Largest peak-to-trough decline	-40.72%	-34.64%	-6.08%
Max Drawdown (1Y) Largest decline over 1 year	-10.60%	-10.78%	+0.18%
Max Drawdown (5Y) Largest decline over 5 years	-14.61%	-16.16%	+1.55%
Max Drawdown (10Y) Largest decline over 10 years	-37.77%	-34.64%	-3.13%
Current Drawdown Current decline from peak	-5.53%	-5.50%	-0.03%
Average Drawdown Average peak-to-trough decline	-11.23%	-6.01%	-5.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	2.92%	-0.17%

Volatility

EVAL.L vs. IEFV.L - Volatility Comparison

SPDR MSCI Europe Value UCITS ETF (EVAL.L) and iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) have volatilities of 5.88% and 6.10%, 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

	EVAL.L	IEFV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.88%	6.10%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	9.85%	10.02%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	14.77%	14.91%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.39%	15.00%	-0.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.96%	16.68%	+0.28%