EVAL.L vs. IUVF.L

Last updated Jul 16, 2026

EVAL.L (SPDR MSCI Europe Value UCITS ETF) and IUVF.L (iShares Edge MSCI USA Value Factor UCITS) are both exchange-traded funds - EVAL.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR, while IUVF.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD. Both are passively managed. Over the past 5 years, EVAL.L returned 14.76%/yr vs 16.25%/yr for IUVF.L. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.

Performance

EVAL.L vs. IUVF.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 USA Value Factor UCITS (IUVF.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EVAL.L is traded in GBP, while IUVF.L is traded in GBp. To make them comparable, the IUVF.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 12.38% return, which is significantly lower than IUVF.L's 39.61% return.

EVAL.L

• 1D: -0.18%
• 1M: -0.33%
• 6M: 10.01%
• YTD: 12.38%
• 1Y: 30.45%
• 3Y*: 20.76%
• 5Y*: 14.76%
• 10Y*: 11.35%

IUVF.L

• 1D: -2.93%
• 1M: -5.77%
• 6M: 33.93%
• YTD: 39.61%
• 1Y: 69.39%
• 3Y*: 27.92%
• 5Y*: 16.25%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVAL.L SPDR MSCI Europe Value UCITS ETF	12.38%	41.82%	4.36%	11.01%	1.33%	19.13%	-2.54%	16.22%	-13.77%	15.54%
IUVF.L iShares Edge MSCI USA Value Factor UCITS	39.61%	23.92%	8.23%	8.28%	-4.63%	31.29%	-4.75%	22.11%	-7.17%	10.45%

Correlation

The correlation between EVAL.L and IUVF.L is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Oct 17, 2016	0.62

The correlation between EVAL.L and IUVF.L shifts across timeframes, from 0.49 (3 years) to 0.62 (all time), reflecting how their relationship changes across market environments.

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

Sectors	EVAL.L	IUVF.L
Financial Services	21.7%	9.8%
Industrials	17.6%	7.7%
Healthcare	12.8%	7.6%
Technology	12.3%	42.5%
Consumer Defensive	8.4%	4.3%
Consumer Cyclical	6.6%	10.5%
Basic Materials	6.4%	1.4%
Energy	5.1%	3.0%
Utilities	4.6%	1.9%
Communication Services	3.8%	9.6%
Real Estate	0.7%	1.8%

Return for Risk

EVAL.L vs. IUVF.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: 81
EVAL.L Sharpe Ratio Rank: 87
EVAL.L Sortino Ratio Rank: 85
EVAL.L Omega Ratio Rank: 86
EVAL.L Calmar Ratio Rank: 73
EVAL.L Martin Ratio Rank: 74

IUVF.L

IUVF.L Risk / Return Rank: 97
IUVF.L Sharpe Ratio Rank: 98
IUVF.L Sortino Ratio Rank: 97
IUVF.L Omega Ratio Rank: 96
IUVF.L Calmar Ratio Rank: 97
IUVF.L Martin Ratio Rank: 97

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. IUVF.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 USA Value Factor UCITS (IUVF.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.

	EVAL.L	IUVF.L	Difference
Sharpe ratio: Return per unit of total volatility	2.27	3.93	-1.66
Sortino ratio: Return per unit of downside risk	3.08	5.08	-2.01
Omega ratio: Gain probability vs. loss probability	1.41	1.68	-0.26
Calmar ratio: Return relative to maximum drawdown	3.00	8.59	-5.59
Martin ratio: Return relative to average drawdown	11.02	33.67	-22.65

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

The current EVAL.L Sharpe Ratio is 2.27, which is lower than the IUVF.L Sharpe Ratio of 3.93. The chart below compares the historical Sharpe Ratios of EVAL.L and IUVF.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.

Drawdowns

EVAL.L vs. IUVF.L - Drawdown Comparison

The maximum EVAL.L drawdown since its inception was -40.72%, which is greater than IUVF.L's maximum drawdown of -31.83%. Use the drawdown chart below to compare losses from any high point for EVAL.L and IUVF.L.

Drawdown Indicators

	EVAL.L	IUVF.L	Difference
Max Drawdown Largest peak-to-trough decline	-40.72%	-31.83%	-8.89%
Max Drawdown (1Y) Largest decline over 1 year	-10.10%	-8.04%	-2.06%
Max Drawdown (3Y) Largest decline over 3 years	-14.34%	-20.13%	+5.79%
Max Drawdown (5Y) Largest decline over 5 years	-14.61%	-20.13%	+5.52%
Max Drawdown (10Y) Largest decline over 10 years	-37.77%	—	—
Current Drawdown Current decline from peak	-1.43%	-8.04%	+6.61%
Average Drawdown Average peak-to-trough decline	-11.27%	-5.50%	-5.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.05%	+0.71%

Volatility

EVAL.L vs. IUVF.L - Volatility Comparison

The current volatility for SPDR MSCI Europe Value UCITS ETF (EVAL.L) is 4.04%, while iShares Edge MSCI USA Value Factor UCITS (IUVF.L) has a volatility of 8.00%. This indicates that EVAL.L experiences smaller price fluctuations and is considered to be less risky than IUVF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVAL.L	IUVF.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	8.00%	-3.96%
Volatility (6M) Calculated over the trailing 6-month period	11.21%	15.15%	-3.94%
Volatility (1Y) Calculated over the trailing 1-year period	13.39%	17.58%	-4.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.52%	16.42%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.77%	18.07%	-0.30%

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

Both EVAL.L and IUVF.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

EVAL.L vs. IUVF.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EVAL.L and IUVF.L in my portfolio?

EVAL.L and IUVF.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVAL.L or IUVF.L?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVAL.L or IUVF.L?

EVAL.L and IUVF.L have the same expense ratio: 0.20% per year.

What is the main difference between EVAL.L and IUVF.L?

EVAL.L is categorized as Europe Equities, while IUVF.L is Large Cap Value Equities. EVAL.L tracks MSCI Europe Value NR EUR, while IUVF.L tracks Russell 1000 Value TR USD. They also come from different issuers: State Street and iShares.