EVAL.L vs. MIBX.L

Last updated Jun 25, 2026

EVAL.L (SPDR MSCI Europe Value UCITS ETF) and MIBX.L (Lyxor FTSE MIB UCITS ETF - Dist) are both Europe Equities funds - EVAL.L tracks the MSCI Europe Value NR EUR while MIBX.L tracks the FTSE Italia AllShare TR EUR. Both are passively managed. Over the past 10 years, EVAL.L returned 12.19%/yr vs 17.22%/yr for MIBX.L. A 0.80 correlation means they provide meaningful diversification when combined. EVAL.L charges 0.20%/yr vs 0.35%/yr for MIBX.L.

Performance

EVAL.L vs. MIBX.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 Lyxor FTSE MIB UCITS ETF - Dist (MIBX.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EVAL.L is traded in GBP, while MIBX.L is traded in GBp. To make them comparable, the MIBX.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 11.68% return, which is significantly lower than MIBX.L's 16.96% return. Over the past 10 years, EVAL.L has underperformed MIBX.L with an annualized return of 12.19%, while MIBX.L has yielded a comparatively higher 17.22% annualized return.

EVAL.L

• 1D: 0.08%
• 1M: 0.17%
• YTD: 11.68%
• 6M: 12.22%
• 1Y: 33.62%
• 3Y*: 21.39%
• 5Y*: 14.28%
• 10Y*: 12.19%

MIBX.L

• 1D: -1.04%
• 1M: 4.43%
• YTD: 16.96%
• 6M: 17.52%
• 1Y: 37.96%
• 3Y*: 29.83%
• 5Y*: 20.53%
• 10Y*: 17.22%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVAL.L SPDR MSCI Europe Value UCITS ETF	11.68%	41.82%	4.36%	11.01%	1.33%	19.13%	-2.54%	16.22%	-13.77%	15.54%
MIBX.L Lyxor FTSE MIB UCITS ETF - Dist	16.96%	43.78%	13.17%	30.61%	-3.53%	18.16%	1.49%	25.15%	-12.72%	21.14%

Correlation

The correlation between EVAL.L and MIBX.L is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015	0.80

The correlation between EVAL.L and MIBX.L has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

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

Sectors	EVAL.L	MIBX.L
Financial Services	21.7%	45.3%
Industrials	17.6%	11.4%
Healthcare	12.8%	1.2%
Technology	12.3%	5.5%
Consumer Defensive	8.4%	0.4%
Consumer Cyclical	6.6%	9.9%
Basic Materials	6.4%	0.5%
Energy	5.1%	7.9%
Utilities	4.6%	15.9%
Communication Services	3.8%	1.7%
Real Estate	0.7%	0.3%

Return for Risk

EVAL.L vs. MIBX.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: 82
EVAL.L Sharpe Ratio Rank: 88
EVAL.L Sortino Ratio Rank: 87
EVAL.L Omega Ratio Rank: 86
EVAL.L Calmar Ratio Rank: 74
EVAL.L Martin Ratio Rank: 74

MIBX.L

MIBX.L Risk / Return Rank: 83
MIBX.L Sharpe Ratio Rank: 87
MIBX.L Sortino Ratio Rank: 86
MIBX.L Omega Ratio Rank: 83
MIBX.L Calmar Ratio Rank: 80
MIBX.L Martin Ratio Rank: 79

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. MIBX.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 Lyxor FTSE MIB UCITS ETF - Dist (MIBX.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	MIBX.L	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.50	+0.04
Sortino ratio: Return per unit of downside risk	3.46	3.37	+0.09
Omega ratio: Gain probability vs. loss probability	1.46	1.44	+0.03
Calmar ratio: Return relative to maximum drawdown	3.31	3.68	-0.37
Martin ratio: Return relative to average drawdown	12.23	13.42	-1.18

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

The current EVAL.L Sharpe Ratio is 2.54, which is comparable to the MIBX.L Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of EVAL.L and MIBX.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. MIBX.L - Drawdown Comparison

The maximum EVAL.L drawdown since its inception was -40.72%, smaller than the maximum MIBX.L drawdown of -67.93%. Use the drawdown chart below to compare losses from any high point for EVAL.L and MIBX.L.

Drawdown Indicators

	EVAL.L	MIBX.L	Difference
Max Drawdown Largest peak-to-trough decline	-40.72%	-67.93%	+27.21%
Max Drawdown (1Y) Largest decline over 1 year	-10.10%	-10.26%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-14.34%	-15.64%	+1.30%
Max Drawdown (5Y) Largest decline over 5 years	-14.61%	-24.06%	+9.45%
Max Drawdown (10Y) Largest decline over 10 years	-37.77%	-35.10%	-2.67%
Current Drawdown Current decline from peak	-1.24%	-2.75%	+1.51%
Average Drawdown Average peak-to-trough decline	-11.33%	-39.85%	+28.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	2.82%	-0.08%

Volatility

EVAL.L vs. MIBX.L - Volatility Comparison

The current volatility for SPDR MSCI Europe Value UCITS ETF (EVAL.L) is 3.18%, while Lyxor FTSE MIB UCITS ETF - Dist (MIBX.L) has a volatility of 3.93%. This indicates that EVAL.L experiences smaller price fluctuations and is considered to be less risky than MIBX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVAL.L	MIBX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	3.93%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	12.41%	-1.67%
Volatility (1Y) Calculated over the trailing 1-year period	13.22%	15.13%	-1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.51%	17.95%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.82%	18.93%	-1.11%

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

EVAL.L has a 0.20% expense ratio, which is lower than MIBX.L's 0.35% expense ratio.

Dividends

EVAL.L vs. MIBX.L - Dividend Comparison

EVAL.L has not paid dividends to shareholders, while MIBX.L's dividend yield for the trailing twelve months is around 3.15%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%	0.00%
MIBX.L Lyxor FTSE MIB UCITS ETF - Dist	3.15%	3.68%	3.93%	3.73%	3.88%	2.09%	1.55%	4.02%	4.05%	2.75%	3.56%	3.05%

Frequently Asked Questions

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

EVAL.L and MIBX.L have a correlation of 0.79, 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 MIBX.L?

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.

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

EVAL.L is cheaper with a 0.20% expense ratio, compared with 0.35% for MIBX.L.

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

EVAL.L tracks MSCI Europe Value NR EUR, while MIBX.L tracks FTSE Italia AllShare TR EUR. They also come from different issuers: State Street and Amundi. Their fees differ too: 0.20% for EVAL.L and 0.35% for MIBX.L.