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FEUD.L vs. MVEU.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FEUD.L vs. MVEU.L

Last updated Jun 25, 2026

FEUD.L (First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares) and MVEU.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)) are both Europe Equities funds - FEUD.L tracks the MSCI EMU NR EUR while MVEU.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, FEUD.L returned 12.34%/yr vs 7.13%/yr for MVEU.L. A 0.69 correlation means they provide meaningful diversification when combined. FEUD.L charges 0.75%/yr vs 0.25%/yr for MVEU.L.

Performance

FEUD.L vs. MVEU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares (FEUD.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

FEUD.L is traded in GBp, while MVEU.L is traded in EUR. To make them comparable, the MVEU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, FEUD.L achieves a 11.88% return, which is significantly higher than MVEU.L's 5.99% return.

FEUD.L

1D
-0.57%
1M
0.63%
YTD
11.88%
6M
12.64%
1Y
32.42%
3Y*
23.81%
5Y*
12.34%
10Y*
—

MVEU.L

1D
0.50%
1M
-0.08%
YTD
5.99%
6M
6.28%
1Y
10.48%
3Y*
11.60%
5Y*
7.13%
10Y*
7.98%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FEUD.L vs. MVEU.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FEUD.L
First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares		11.88%46.98%7.06%10.07%-9.31%13.22%1.46%16.61%-16.85%
MVEU.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)		5.99%17.63%6.71%8.45%-8.16%14.46%1.57%15.47%-5.73%

Correlation

The correlation between FEUD.L and MVEU.L is 0.53, 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

0.53

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

0.59

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

0.63

Correlation (All Time)
Calculated using the full available price history since Aug 16, 2018

0.69

The correlation between FEUD.L and MVEU.L shifts across timeframes, from 0.53 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

FEUD.L vs. MVEU.L - Sectors Allocation Comparison

Sectors
FEUD.L
MVEU.L

Industrials

28.2%
15.6%

Financial Services

11.2%
17.6%

Energy

9.8%
6.9%

Consumer Cyclical

9.1%
3.6%

Utilities

8.0%
10.1%

Basic Materials

7.4%
5.1%

Technology

6.9%
3.4%

Real Estate

5.6%
1.5%

Consumer Defensive

5.2%
14.1%

Healthcare

5.0%
12.3%

Communication Services

3.6%
9.0%

Industrials

FEUD.L
28.2%
MVEU.L
15.6%

Financial Services

FEUD.L
11.2%
MVEU.L
17.6%

Energy

FEUD.L
9.8%
MVEU.L
6.9%

Consumer Cyclical

FEUD.L
9.1%
MVEU.L
3.6%

Utilities

FEUD.L
8.0%
MVEU.L
10.1%

Basic Materials

FEUD.L
7.4%
MVEU.L
5.1%

Technology

FEUD.L
6.9%
MVEU.L
3.4%

Real Estate

FEUD.L
5.6%
MVEU.L
1.5%

Consumer Defensive

FEUD.L
5.2%
MVEU.L
14.1%

Healthcare

FEUD.L
5.0%
MVEU.L
12.3%

Communication Services

FEUD.L
3.6%
MVEU.L
9.0%

Compare stocks, funds, or ETFs

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First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares

iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)

Often compared with FEUD.L:
FEUD.L vs. EZUFEUD.L vs. FPX.LFEUD.L vs. FCBR.LFEUD.L vs. EUHD.LFEUD.L vs. FDN.LFEUD.L vs. CAPS.LFEUD.L vs. SX5S.L
Often compared with MVEU.L:
MVEU.L vs. SVOLMVEU.L vs. VTMVEU.L vs. FLXD.LMVEU.L vs. EUHD.LMVEU.L vs. CS1.LMVEU.L vs. CSP1.LMVEU.L vs. IITU.L

Return for Risk

FEUD.L vs. MVEU.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FEUD.L
FEUD.L Risk / Return Rank: 7777
Overall Rank
FEUD.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
FEUD.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
FEUD.L Omega Ratio Rank: 8484
Omega Ratio Rank
FEUD.L Calmar Ratio Rank: 7070
Calmar Ratio Rank
FEUD.L Martin Ratio Rank: 7070
Martin Ratio Rank
MVEU.L
MVEU.L Risk / Return Rank: 3131
Overall Rank
MVEU.L Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
MVEU.L Sortino Ratio Rank: 3131
Sortino Ratio Rank
MVEU.L Omega Ratio Rank: 3131
Omega Ratio Rank
MVEU.L Calmar Ratio Rank: 3030
Calmar Ratio Rank
MVEU.L Martin Ratio Rank: 3232
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.

FEUD.L vs. MVEU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares (FEUD.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.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.

FEUD.LMVEU.LDifference
Sharpe ratioReturn per unit of total volatility
2.33
1.17

+1.16

Sortino ratioReturn per unit of downside risk
3.07
1.63

+1.43

Omega ratioGain probability vs. loss probability

1.43

1.21

+0.22

Calmar ratioReturn relative to maximum drawdown

3.04

1.25

+1.79

Martin ratioReturn relative to average drawdown

11.22

3.71

+7.51

FEUD.L vs. MVEU.L - Sharpe Ratio Comparison

The current FEUD.L Sharpe Ratio is 2.33, which is higher than the MVEU.L Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of FEUD.L and MVEU.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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Drawdowns

FEUD.L vs. MVEU.L - Drawdown Comparison

The maximum FEUD.L drawdown since its inception was -41.36%, which is greater than MVEU.L's maximum drawdown of -23.74%. Use the drawdown chart below to compare losses from any high point for FEUD.L and MVEU.L.

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Drawdown Indicators

FEUD.LMVEU.LDifference

Max Drawdown

Largest peak-to-trough decline

-41.36%

-23.74%

-17.62%

Max Drawdown (1Y)

Largest decline over 1 year

-10.60%

-8.32%

-2.28%

Max Drawdown (3Y)

Largest decline over 3 years

-14.03%

-8.32%

-5.71%

Max Drawdown (5Y)

Largest decline over 5 years

-23.59%

-17.42%

-6.17%

Max Drawdown (10Y)

Largest decline over 10 years

—

-23.74%

—

Current Drawdown

Current decline from peak

-1.72%

-3.45%

+1.73%

Average Drawdown

Average peak-to-trough decline

-9.71%

-3.52%

-6.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.88%

2.82%

+0.06%

Volatility

FEUD.L vs. MVEU.L - Volatility Comparison

First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares (FEUD.L) has a higher volatility of 3.21% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L) at 1.88%. This indicates that FEUD.L's price experiences larger fluctuations and is considered to be riskier than MVEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FEUD.LMVEU.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.21%

1.88%

+1.33%

Volatility (6M)

Calculated over the trailing 6-month period

11.56%

7.31%

+4.25%

Volatility (1Y)

Calculated over the trailing 1-year period

13.93%

8.92%

+5.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.53%

11.28%

+5.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.70%

12.62%

+6.08%

FEUD.L vs. MVEU.L - Expense Ratio Comparison

FEUD.L has a 0.75% expense ratio, which is higher than MVEU.L's 0.25% expense ratio.

Dividends

FEUD.L vs. MVEU.L - Dividend Comparison

FEUD.L's dividend yield for the trailing twelve months is around 2.78%, while MVEU.L has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019
FEUD.L
First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares		2.78%3.05%5.94%2.76%2.50%1.95%1.01%1.78%
MVEU.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FEUD.L and MVEU.L have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, MVEU.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MVEU.L is cheaper with a 0.25% expense ratio, compared with 0.75% for FEUD.L.

FEUD.L tracks MSCI EMU NR EUR, while MVEU.L tracks MSCI Europe NR EUR. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.75% for FEUD.L and 0.25% for MVEU.L.

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