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FSEU.L vs. MVUS.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FSEU.L vs. MVUS.L

Last updated Jun 5, 2026

FSEU.L (iShares Edge MSCI Europe Multifactor UCITS) and MVUS.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) are both exchange-traded funds - FSEU.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while MVUS.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, FSEU.L returned 10.82%/yr vs 11.39%/yr for MVUS.L. A 0.59 correlation means they provide meaningful diversification when combined. FSEU.L charges 0.45%/yr vs 0.20%/yr for MVUS.L.

Performance

FSEU.L vs. MVUS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI Europe Multifactor UCITS (FSEU.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FSEU.L achieves a 9.29% return, which is significantly higher than MVUS.L's 4.45% return. Over the past 10 years, FSEU.L has underperformed MVUS.L with an annualized return of 10.82%, while MVUS.L has yielded a comparatively higher 11.39% annualized return.

FSEU.L

1D
0.52%
1M
1.83%
YTD
9.29%
6M
12.30%
1Y
23.28%
3Y*
18.33%
5Y*
10.74%
10Y*
10.82%

MVUS.L

1D
0.22%
1M
4.90%
YTD
4.45%
6M
4.88%
1Y
12.53%
3Y*
10.84%
5Y*
10.08%
10Y*
11.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FSEU.L vs. MVUS.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FSEU.L
iShares Edge MSCI Europe Multifactor UCITS		9.29%27.11%9.24%16.69%-10.53%18.42%5.03%18.30%-10.14%16.67%
MVUS.L
iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)		4.45%3.88%20.71%3.83%-0.36%26.59%3.87%26.86%-0.36%6.22%

Correlation

The correlation between FSEU.L and MVUS.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.39

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

0.41

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

0.47

Correlation (10Y)
Calculated over the trailing 10-year period

0.57

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2015

0.59

The correlation between FSEU.L and MVUS.L shifts across timeframes, from 0.39 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

FSEU.L vs. MVUS.L - Sectors Allocation Comparison

Sectors
FSEU.L
MVUS.L

Financial Services

28.0%
17.2%

Industrials

17.7%
5.6%

Healthcare

11.5%
13.0%

Technology

8.4%
31.0%

Consumer Defensive

8.2%
10.4%

Consumer Cyclical

6.2%
6.7%

Energy

5.8%
5.0%

Communication Services

5.4%
6.2%

Utilities

5.4%
2.7%

Basic Materials

2.1%
2.2%

Real Estate

1.3%
0.2%

Financial Services

FSEU.L
28.0%
MVUS.L
17.2%

Industrials

FSEU.L
17.7%
MVUS.L
5.6%

Healthcare

FSEU.L
11.5%
MVUS.L
13.0%

Technology

FSEU.L
8.4%
MVUS.L
31.0%

Consumer Defensive

FSEU.L
8.2%
MVUS.L
10.4%

Consumer Cyclical

FSEU.L
6.2%
MVUS.L
6.7%

Energy

FSEU.L
5.8%
MVUS.L
5.0%

Communication Services

FSEU.L
5.4%
MVUS.L
6.2%

Utilities

FSEU.L
5.4%
MVUS.L
2.7%

Basic Materials

FSEU.L
2.1%
MVUS.L
2.2%

Real Estate

FSEU.L
1.3%
MVUS.L
0.2%

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iShares Edge MSCI Europe Multifactor UCITS

iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)

Often compared with FSEU.L:
FSEU.L vs. BIAHXFSEU.L vs. VHYL.ASFSEU.L vs. SMEA.LFSEU.L vs. GOOGFSEU.L vs. XDEQ.LFSEU.L vs. CS1.LFSEU.L vs. CNDX.L
Often compared with MVUS.L:
MVUS.L vs. USMVMVUS.L vs. XDEB.LMVUS.L vs. MVEA.LMVUS.L vs. GLTS.LMVUS.L vs. HMUD.LMVUS.L vs. XLPP.LMVUS.L vs. JURE.L

Return for Risk

FSEU.L vs. MVUS.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FSEU.L
FSEU.L Risk / Return Rank: 6060
Overall Rank
FSEU.L Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
FSEU.L Sortino Ratio Rank: 6060
Sortino Ratio Rank
FSEU.L Omega Ratio Rank: 6363
Omega Ratio Rank
FSEU.L Calmar Ratio Rank: 5555
Calmar Ratio Rank
FSEU.L Martin Ratio Rank: 5858
Martin Ratio Rank
MVUS.L
MVUS.L Risk / Return Rank: 4545
Overall Rank
MVUS.L Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
MVUS.L Sortino Ratio Rank: 4545
Sortino Ratio Rank
MVUS.L Omega Ratio Rank: 4444
Omega Ratio Rank
MVUS.L Calmar Ratio Rank: 4747
Calmar Ratio Rank
MVUS.L Martin Ratio Rank: 4545
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.

FSEU.L vs. MVUS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Multifactor UCITS (FSEU.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.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.

FSEU.LMVUS.LDifference
Sharpe ratioReturn per unit of total volatility
2.01
1.55

+0.46

Sortino ratioReturn per unit of downside risk
2.80
2.19

+0.61

Omega ratioGain probability vs. loss probability

1.38

1.28

+0.10

Calmar ratioReturn relative to maximum drawdown

2.70

2.32

+0.39

Martin ratioReturn relative to average drawdown

10.05

7.24

+2.81

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

FSEU.L vs. MVUS.L - Sharpe Ratio Comparison

The current FSEU.L Sharpe Ratio is 2.01, which is comparable to the MVUS.L Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of FSEU.L and MVUS.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

FSEU.LMVUS.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.01

1.55

+0.46

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.79

0.86

-0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.74

0.83

-0.08

Sharpe Ratio (All Time)

Calculated using the full available price history

0.74

0.95

-0.21

Drawdowns

FSEU.L vs. MVUS.L - Drawdown Comparison

The maximum FSEU.L drawdown since its inception was -29.40%, which is greater than MVUS.L's maximum drawdown of -24.85%. Use the drawdown chart below to compare losses from any high point for FSEU.L and MVUS.L.

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Drawdown Indicators

FSEU.LMVUS.LDifference

Max Drawdown

Largest peak-to-trough decline

-29.40%

-24.85%

-4.55%

Max Drawdown (1Y)

Largest decline over 1 year

-8.57%

-5.39%

-3.18%

Max Drawdown (3Y)

Largest decline over 3 years

-12.08%

-14.19%

+2.11%

Max Drawdown (5Y)

Largest decline over 5 years

-20.33%

-14.19%

-6.14%

Max Drawdown (10Y)

Largest decline over 10 years

-29.40%

-24.85%

-4.55%

Current Drawdown

Current decline from peak

-0.47%

0.00%

-0.47%

Average Drawdown

Average peak-to-trough decline

-4.14%

-3.44%

-0.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.31%

1.73%

+0.58%

Volatility

FSEU.L vs. MVUS.L - Volatility Comparison

iShares Edge MSCI Europe Multifactor UCITS (FSEU.L) has a higher volatility of 3.39% compared to iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L) at 2.24%. This indicates that FSEU.L's price experiences larger fluctuations and is considered to be riskier than MVUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FSEU.LMVUS.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.39%

2.24%

+1.15%

Volatility (6M)

Calculated over the trailing 6-month period

9.41%

5.65%

+3.76%

Volatility (1Y)

Calculated over the trailing 1-year period

11.53%

8.05%

+3.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.57%

11.72%

+1.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.65%

13.78%

+0.87%

FSEU.L vs. MVUS.L - Expense Ratio Comparison

FSEU.L has a 0.45% expense ratio, which is higher than MVUS.L's 0.20% expense ratio.

Dividends

FSEU.L vs. MVUS.L - Dividend Comparison

Neither FSEU.L nor MVUS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

FSEU.L and MVUS.L have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, MVUS.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MVUS.L is cheaper with a 0.20% expense ratio, compared with 0.45% for FSEU.L.

FSEU.L is categorized as Europe Equities, while MVUS.L is S&P 500. FSEU.L tracks MSCI Europe NR EUR, while MVUS.L tracks S&P 500 Index. Their fees differ too: 0.45% for FSEU.L and 0.20% for MVUS.L.

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