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FEUZ.L vs. MVED.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FEUZ.L vs. MVED.L

Last updated Jun 5, 2026

FEUZ.L (First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares) and MVED.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)) are both Europe Equities funds - FEUZ.L tracks the MSCI EMU NR EUR while MVED.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, FEUZ.L returned 11.74%/yr vs 6.21%/yr for MVED.L. A 0.59 correlation means they provide meaningful diversification when combined. FEUZ.L charges 0.80%/yr vs 0.25%/yr for MVED.L.

Performance

FEUZ.L vs. MVED.L - Performance Comparison

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

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, FEUZ.L achieves a 12.51% return, which is significantly higher than MVED.L's 3.88% return.

FEUZ.L

1D
0.40%
1M
3.03%
YTD
12.51%
6M
15.50%
1Y
34.11%
3Y*
22.57%
5Y*
11.74%
10Y*
11.52%

MVED.L

1D
0.45%
1M
0.80%
YTD
3.88%
6M
4.77%
1Y
5.26%
3Y*
8.28%
5Y*
6.21%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FEUZ.L vs. MVED.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FEUZ.L
First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares		12.51%48.45%3.89%9.28%-9.28%13.80%1.55%16.96%-14.89%
MVED.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)		3.88%14.60%3.94%8.51%-8.08%14.30%1.58%15.71%0.07%

Correlation

The correlation between FEUZ.L and MVED.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

0.46

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

0.51

Correlation (All Time)
Calculated using the full available price history since Mar 1, 2018

0.59

The correlation between FEUZ.L and MVED.L shifts across timeframes, from 0.46 (3 years) to 0.59 (all time), reflecting how their relationship changes across market environments.

FEUZ.L vs. MVED.L - Sectors Allocation Comparison

Sectors
FEUZ.L
MVED.L

Industrials

27.4%
15.7%

Energy

10.8%
6.9%

Financial Services

10.6%
17.8%

Consumer Cyclical

9.2%
3.7%

Utilities

8.3%
10.1%

Basic Materials

7.5%
5.7%

Real Estate

6.0%
1.6%

Technology

6.0%
2.8%

Consumer Defensive

5.3%
13.2%

Healthcare

5.2%
13.1%

Communication Services

3.7%
9.5%

Industrials

FEUZ.L
27.4%
MVED.L
15.7%

Energy

FEUZ.L
10.8%
MVED.L
6.9%

Financial Services

FEUZ.L
10.6%
MVED.L
17.8%

Consumer Cyclical

FEUZ.L
9.2%
MVED.L
3.7%

Utilities

FEUZ.L
8.3%
MVED.L
10.1%

Basic Materials

FEUZ.L
7.5%
MVED.L
5.7%

Real Estate

FEUZ.L
6.0%
MVED.L
1.6%

Technology

FEUZ.L
6.0%
MVED.L
2.8%

Consumer Defensive

FEUZ.L
5.3%
MVED.L
13.2%

Healthcare

FEUZ.L
5.2%
MVED.L
13.1%

Communication Services

FEUZ.L
3.7%
MVED.L
9.5%

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First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares

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

Often compared with FEUZ.L:
FEUZ.L vs. VEUR.LFEUZ.L vs. ILFFEUZ.L vs. PRUK.LFEUZ.L vs. EEUD.LFEUZ.L vs. EDIV.LFEUZ.L vs. CSWG.LFEUZ.L vs. CAPS.L
Often compared with MVED.L:
MVED.L vs. MIVO.LMVED.L vs. CSPX.LMVED.L vs. PRUK.LMVED.L vs. WDEP.LMVED.L vs. OPEN.LMVED.L vs. EDIV.LMVED.L vs. FKU.L

Return for Risk

FEUZ.L vs. MVED.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FEUZ.L
FEUZ.L Risk / Return Rank: 7070
Overall Rank
FEUZ.L Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
FEUZ.L Sortino Ratio Rank: 7070
Sortino Ratio Rank
FEUZ.L Omega Ratio Rank: 7373
Omega Ratio Rank
FEUZ.L Calmar Ratio Rank: 6767
Calmar Ratio Rank
FEUZ.L Martin Ratio Rank: 6969
Martin Ratio Rank
MVED.L
MVED.L Risk / Return Rank: 1313
Overall Rank
MVED.L Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
MVED.L Sortino Ratio Rank: 1212
Sortino Ratio Rank
MVED.L Omega Ratio Rank: 1313
Omega Ratio Rank
MVED.L Calmar Ratio Rank: 1313
Calmar Ratio Rank
MVED.L Martin Ratio Rank: 1313
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.

FEUZ.L vs. MVED.L - Risk-Adjusted Trends Comparison

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

FEUZ.LMVED.LDifference
Sharpe ratioReturn per unit of total volatility
2.34
0.57

+1.77

Sortino ratioReturn per unit of downside risk
3.12
0.83

+2.30

Omega ratioGain probability vs. loss probability

1.42

1.11

+0.32

Calmar ratioReturn relative to maximum drawdown

3.28

0.63

+2.65

Martin ratioReturn relative to average drawdown

12.55

1.79

+10.77

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

FEUZ.L vs. MVED.L - Sharpe Ratio Comparison

The current FEUZ.L Sharpe Ratio is 2.34, which is higher than the MVED.L Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of FEUZ.L and MVED.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

FEUZ.LMVED.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.34

0.57

+1.77

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.80

0.55

+0.25

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.74

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.79

0.49

+0.30

Drawdowns

FEUZ.L vs. MVED.L - Drawdown Comparison

The maximum FEUZ.L drawdown since its inception was -36.68%, which is greater than MVED.L's maximum drawdown of -24.31%. Use the drawdown chart below to compare losses from any high point for FEUZ.L and MVED.L.

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Drawdown Indicators

FEUZ.LMVED.LDifference

Max Drawdown

Largest peak-to-trough decline

-36.68%

-24.31%

-12.37%

Max Drawdown (1Y)

Largest decline over 1 year

-10.35%

-8.28%

-2.07%

Max Drawdown (3Y)

Largest decline over 3 years

-14.10%

-8.28%

-5.82%

Max Drawdown (5Y)

Largest decline over 5 years

-23.27%

-17.36%

-5.91%

Max Drawdown (10Y)

Largest decline over 10 years

-36.68%

—

—

Current Drawdown

Current decline from peak

-0.11%

-5.32%

+5.21%

Average Drawdown

Average peak-to-trough decline

-6.25%

-4.10%

-2.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.71%

2.94%

-0.23%

Volatility

FEUZ.L vs. MVED.L - Volatility Comparison

First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares (FEUZ.L) has a higher volatility of 3.86% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.L) at 2.98%. This indicates that FEUZ.L's price experiences larger fluctuations and is considered to be riskier than MVED.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FEUZ.LMVED.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.86%

2.98%

+0.88%

Volatility (6M)

Calculated over the trailing 6-month period

11.96%

7.68%

+4.28%

Volatility (1Y)

Calculated over the trailing 1-year period

14.49%

9.18%

+5.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.61%

11.29%

+7.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.95%

12.95%

+6.00%

FEUZ.L vs. MVED.L - Expense Ratio Comparison

FEUZ.L has a 0.80% expense ratio, which is higher than MVED.L's 0.25% expense ratio.

Dividends

FEUZ.L vs. MVED.L - Dividend Comparison

Neither FEUZ.L nor MVED.L has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018
FEUZ.L
First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
MVED.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)		0.00%0.00%0.00%2.67%2.95%2.16%2.54%2.81%2.50%

Frequently Asked Questions

FEUZ.L and MVED.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.

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

MVED.L is cheaper with a 0.25% expense ratio, compared with 0.80% for FEUZ.L.

FEUZ.L tracks MSCI EMU NR EUR, while MVED.L tracks MSCI Europe NR EUR. They also come from different issuers: First Trust and BlackRock. Their fees differ too: 0.80% for FEUZ.L and 0.25% for MVED.L.

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