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GRID vs. IEFV.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GRID vs. IEFV.L

Last updated Jul 21, 2026
Documentation

GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) and IEFV.L (iShares Edge MSCI Europe Value Factor UCITS ETF) are both exchange-traded funds - GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index, while IEFV.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR. Both are passively managed. Over the past 10 years, GRID returned 18.45%/yr vs 11.39%/yr for IEFV.L. A 0.55 correlation means they provide meaningful diversification when combined. GRID charges 0.70%/yr vs 0.25%/yr for IEFV.L.

Performance

GRID vs. IEFV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) and iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, GRID achieves a 16.26% return, which is significantly higher than IEFV.L's 12.09% return. Over the past 10 years, GRID has outperformed IEFV.L with an annualized return of 18.45%, while IEFV.L has yielded a comparatively lower 11.39% annualized return.

GRID

1D
-0.43%
1M
-8.67%
6M
11.72%
YTD
16.26%
1Y
25.15%
3Y*
19.51%
5Y*
14.88%
10Y*
18.45%
ALL TIME*
12.44%

IEFV.L

1D
-0.40%
1M
0.62%
6M
10.88%
YTD
12.09%
1Y
30.53%
3Y*
21.71%
5Y*
14.67%
10Y*
11.39%
ALL TIME*
8.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GRID vs. IEFV.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		16.26%29.65%15.18%21.57%-13.89%27.65%48.84%42.80%-22.69%27.44%
IEFV.L
iShares Edge MSCI Europe Value Factor UCITS ETF		12.09%52.94%3.64%17.29%-9.38%17.50%-0.79%20.35%-17.61%25.16%

Correlation

The correlation between GRID and IEFV.L is 0.58, 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

0.58

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

0.55

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

0.58

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

0.57

Correlation (All Time)
Calculated using the full available price history since Jan 19, 2015

0.55

The correlation between GRID and IEFV.L has been stable across timeframes, ranging from 0.55 to 0.58 - a consistent structural relationship.

GRID vs. IEFV.L - Sectors Allocation Comparison

Sectors
GRID
IEFV.L

Industrials

67.4%
19.1%

Utilities

17.3%
4.7%

Technology

11.6%
9.5%

Consumer Cyclical

3.6%
5.7%

Energy

1.6%
4.5%

Basic Materials

0.0%
5.1%

Communication Services

-

3.1%

Consumer Defensive

-

8.4%

Financial Services

-

25.3%

Healthcare

-

13.8%

Real Estate

-

0.6%

Industrials

GRID
67.4%
IEFV.L
19.1%

Utilities

GRID
17.3%
IEFV.L
4.7%

Technology

GRID
11.6%
IEFV.L
9.5%

Consumer Cyclical

GRID
3.6%
IEFV.L
5.7%

Energy

GRID
1.6%
IEFV.L
4.5%

Basic Materials

GRID
0.0%
IEFV.L
5.1%

Communication Services

GRID

-

IEFV.L
3.1%

Consumer Defensive

GRID

-

IEFV.L
8.4%

Financial Services

GRID

-

IEFV.L
25.3%

Healthcare

GRID

-

IEFV.L
13.8%

Real Estate

GRID

-

IEFV.L
0.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

iShares Edge MSCI Europe Value Factor UCITS ETF

Often compared with GRID:
GRID vs. ICLNGRID vs. NLRGRID vs. VOOGRID vs. POWRGRID vs. VOLTGRID vs. PAVEGRID vs. FIW
Often compared with IEFV.L:
IEFV.L vs. EVAL.LIEFV.L vs. BRK-BIEFV.L vs. NASL.LIEFV.L vs. SMEA.LIEFV.L vs. UC96.LIEFV.L vs. XDAX.LIEFV.L vs. EFV

Return for Risk

GRID vs. IEFV.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GRID
GRID Risk / Return Rank: 4646
Overall Rank
GRID Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
GRID Sortino Ratio Rank: 4040
Sortino Ratio Rank
GRID Omega Ratio Rank: 4141
Omega Ratio Rank
GRID Calmar Ratio Rank: 5757
Calmar Ratio Rank
GRID Martin Ratio Rank: 5151
Martin Ratio Rank
IEFV.L
IEFV.L Risk / Return Rank: 8383
Overall Rank
IEFV.L Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
IEFV.L Sortino Ratio Rank: 8787
Sortino Ratio Rank
IEFV.L Omega Ratio Rank: 8787
Omega Ratio Rank
IEFV.L Calmar Ratio Rank: 7575
Calmar Ratio Rank
IEFV.L Martin Ratio Rank: 7676
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.

GRID vs. IEFV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) and iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.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.

GRIDIEFV.LDifference
Sharpe ratioReturn per unit of total volatility
1.15
1.91

-0.76

Sortino ratioReturn per unit of downside risk
1.62
2.68

-1.06

Omega ratioGain probability vs. loss probability

1.21

1.33

-0.13

Calmar ratioReturn relative to maximum drawdown

2.15

2.61

-0.45

Martin ratioReturn relative to average drawdown

6.50

9.21

-2.71

GRID vs. IEFV.L - Sharpe Ratio Comparison

The current GRID Sharpe Ratio is 1.15, which is lower than the IEFV.L Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of GRID and IEFV.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

GRID vs. IEFV.L - Drawdown Comparison

The maximum GRID drawdown since its inception was -40.56%, smaller than the maximum IEFV.L drawdown of -46.19%. Use the drawdown chart below to compare losses from any high point for GRID and IEFV.L.

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Drawdown Indicators

GRIDIEFV.LDifference

Max Drawdown

Largest peak-to-trough decline

-40.56%

-46.19%

+5.63%

Max Drawdown (1Y)

Largest decline over 1 year

-11.73%

-11.66%

-0.07%

Max Drawdown (3Y)

Largest decline over 3 years

-20.62%

-16.49%

-4.13%

Max Drawdown (5Y)

Largest decline over 5 years

-29.64%

-31.46%

+1.82%

Max Drawdown (10Y)

Largest decline over 10 years

-40.56%

-46.19%

+5.63%

Current Drawdown

Current decline from peak

-11.01%

-2.11%

-8.90%

Average Drawdown

Average peak-to-trough decline

-8.41%

-9.97%

+1.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.88%

3.31%

+0.57%

Volatility

GRID vs. IEFV.L - Volatility Comparison

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) has a higher volatility of 8.76% compared to iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) at 4.67%. This indicates that GRID's price experiences larger fluctuations and is considered to be riskier than IEFV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GRIDIEFV.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.76%

4.67%

+4.09%

Volatility (6M)

Calculated over the trailing 6-month period

19.36%

13.36%

+6.00%

Volatility (1Y)

Calculated over the trailing 1-year period

22.09%

15.94%

+6.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.51%

20.09%

+1.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.72%

19.82%

+2.90%

GRID vs. IEFV.L - Expense Ratio Comparison

GRID has a 0.70% expense ratio, which is higher than IEFV.L's 0.25% expense ratio.

Dividends

GRID vs. IEFV.L - Dividend Comparison

GRID's dividend yield for the trailing twelve months is around 0.81%, while IEFV.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		0.81%1.01%1.06%1.23%1.26%0.63%0.68%1.26%1.28%1.07%1.07%1.23%
IEFV.L
iShares Edge MSCI Europe Value Factor 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%

Frequently Asked Questions

GRID and IEFV.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

IEFV.L is cheaper with a 0.25% expense ratio, compared with 0.70% for GRID.

GRID is categorized as Alternative Energy Equities, while IEFV.L is Europe Equities. GRID tracks Nasdaq Clean Edge Smart Grid Infrastructure Index, while IEFV.L tracks MSCI Europe Value NR EUR. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.70% for GRID and 0.25% for IEFV.L.

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