FTEU.L vs. IMV.L

Last updated Jun 5, 2026

FTEU.L (First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares) and IMV.L (iShares Edge MSCI Europe Min Volatility UCITS) are both Europe Equities funds - FTEU.L tracks the MSCI EMU NR EUR while IMV.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, FTEU.L returned 10.57%/yr vs 6.41%/yr for IMV.L. A 0.72 correlation means they provide meaningful diversification when combined. FTEU.L charges 0.80%/yr vs 0.25%/yr for IMV.L.

Performance

FTEU.L vs. IMV.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 (FTEU.L) and iShares Edge MSCI Europe Min Volatility UCITS (IMV.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FTEU.L is traded in USD, while IMV.L is traded in GBp. To make them comparable, the IMV.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FTEU.L achieves a 12.33% return, which is significantly higher than IMV.L's 4.47% return.

FTEU.L

• 1D: 0.25%
• 1M: 2.06%
• YTD: 12.33%
• 6M: 16.13%
• 1Y: 32.73%
• 3Y*: 25.79%
• 5Y*: 10.57%
• 10Y*: —

IMV.L

• 1D: 0.56%
• 1M: 0.35%
• YTD: 4.47%
• 6M: 6.68%
• 1Y: 7.27%
• 3Y*: 13.34%
• 5Y*: 6.41%
• 10Y*: 6.89%

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

FTEU.L vs. IMV.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTEU.L First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares	12.33%	57.74%	2.77%	16.49%	-18.83%	11.78%	5.07%	20.55%	-19.61%	35.90%
IMV.L iShares Edge MSCI Europe Min Volatility UCITS	4.47%	26.54%	4.85%	14.28%	-17.69%	12.65%	4.61%	21.04%	-8.41%	24.08%

Correlation

The correlation between FTEU.L and IMV.L is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Aug 23, 2016	0.72

The correlation between FTEU.L and IMV.L has been stable across timeframes, ranging from 0.65 to 0.73 - a consistent structural relationship.

FTEU.L vs. IMV.L - Sectors Allocation Comparison

Sectors	FTEU.L	IMV.L
Industrials	27.4%	15.4%
Energy	10.8%	7.1%
Financial Services	10.6%	17.9%
Consumer Cyclical	9.2%	3.6%
Utilities	8.3%	10.2%
Basic Materials	7.5%	5.6%
Real Estate	6.0%	1.6%
Technology	6.0%	2.8%
Consumer Defensive	5.3%	13.1%
Healthcare	5.2%	13.0%
Communication Services	3.7%	9.6%

Return for Risk

FTEU.L vs. IMV.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FTEU.L

FTEU.L Risk / Return Rank: 58
FTEU.L Sharpe Ratio Rank: 57
FTEU.L Sortino Ratio Rank: 55
FTEU.L Omega Ratio Rank: 59
FTEU.L Calmar Ratio Rank: 59
FTEU.L Martin Ratio Rank: 58

IMV.L

IMV.L Risk / Return Rank: 24
IMV.L Sharpe Ratio Rank: 26
IMV.L Sortino Ratio Rank: 24
IMV.L Omega Ratio Rank: 26
IMV.L Calmar Ratio Rank: 22
IMV.L Martin Ratio Rank: 23

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.

FTEU.L vs. IMV.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 (FTEU.L) and iShares Edge MSCI Europe Min Volatility UCITS (IMV.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.

	FTEU.L	IMV.L	Difference
Sharpe ratio: Return per unit of total volatility	1.90	0.66	+1.24
Sortino ratio: Return per unit of downside risk	2.60	0.96	+1.64
Omega ratio: Gain probability vs. loss probability	1.36	1.13	+0.23
Calmar ratio: Return relative to maximum drawdown	2.85	0.79	+2.06
Martin ratio: Return relative to average drawdown	10.09	2.35	+7.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTEU.L vs. IMV.L - Sharpe Ratio Comparison

The current FTEU.L Sharpe Ratio is 1.90, which is higher than the IMV.L Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of FTEU.L and IMV.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.

Sharpe Ratios by Period

	FTEU.L	IMV.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	0.66	+1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.45	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.51	+0.04

Drawdowns

FTEU.L vs. IMV.L - Drawdown Comparison

The maximum FTEU.L drawdown since its inception was -46.61%, which is greater than IMV.L's maximum drawdown of -32.35%. Use the drawdown chart below to compare losses from any high point for FTEU.L and IMV.L.

Drawdown Indicators

	FTEU.L	IMV.L	Difference
Max Drawdown Largest peak-to-trough decline	-46.61%	-32.35%	-14.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.42%	-9.12%	-2.30%
Max Drawdown (3Y) Largest decline over 3 years	-15.66%	-10.39%	-5.27%
Max Drawdown (5Y) Largest decline over 5 years	-38.49%	-32.35%	-6.14%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.35%	—
Current Drawdown Current decline from peak	-1.03%	-5.02%	+3.99%
Average Drawdown Average peak-to-trough decline	-10.34%	-5.98%	-4.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	3.08%	+0.16%

Volatility

FTEU.L vs. IMV.L - Volatility Comparison

First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares (FTEU.L) has a higher volatility of 5.53% compared to iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) at 3.64%. This indicates that FTEU.L's price experiences larger fluctuations and is considered to be riskier than IMV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTEU.L	IMV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	3.64%	+1.89%
Volatility (6M) Calculated over the trailing 6-month period	14.10%	8.87%	+5.23%
Volatility (1Y) Calculated over the trailing 1-year period	17.14%	10.99%	+6.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.22%	14.30%	+5.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.86%	14.65%	+5.21%

FTEU.L vs. IMV.L - Expense Ratio Comparison

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

Dividends

FTEU.L vs. IMV.L - Dividend Comparison

Neither FTEU.L nor IMV.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FTEU.L and IMV.L in my portfolio?

FTEU.L and IMV.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTEU.L or IMV.L?

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

Which ETF is cheaper, FTEU.L or IMV.L?

IMV.L is cheaper with a 0.25% expense ratio, compared with 0.80% for FTEU.L.

What is the main difference between FTEU.L and IMV.L?

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