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

GRID vs. MVOL.L

Last updated Jul 18, 2026
Documentation

GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) and MVOL.L (iShares Edge MSCI World Minimum Volatility UCITS) are both exchange-traded funds - GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index, while MVOL.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, GRID returned 18.48%/yr vs 6.83%/yr for MVOL.L. At a 0.40 correlation, their price movements are largely independent. GRID charges 0.70%/yr vs 0.35%/yr for MVOL.L.

Performance

GRID vs. MVOL.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 World Minimum Volatility UCITS (MVOL.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, GRID achieves a 16.76% return, which is significantly higher than MVOL.L's 2.60% return. Over the past 10 years, GRID has outperformed MVOL.L with an annualized return of 18.48%, while MVOL.L has yielded a comparatively lower 6.83% annualized return.

GRID

1D
0.10%
1M
-8.28%
6M
12.20%
YTD
16.76%
1Y
25.70%
3Y*
19.38%
5Y*
15.54%
10Y*
18.48%

MVOL.L

1D
0.65%
1M
3.64%
6M
2.88%
YTD
2.60%
1Y
4.44%
3Y*
9.17%
5Y*
5.10%
10Y*
6.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GRID vs. MVOL.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		16.76%29.65%15.18%21.57%-13.89%27.65%48.84%42.80%-22.69%27.44%
MVOL.L
iShares Edge MSCI World Minimum Volatility UCITS		2.60%11.02%11.08%7.28%-9.62%14.65%2.56%22.56%-2.40%17.39%

Correlation

The correlation between GRID and MVOL.L is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

-0.01

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

0.22

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

0.35

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

0.40

Correlation (All Time)
Calculated using the full available price history since Nov 30, 2012

0.40

The correlation between GRID and MVOL.L shifts across timeframes, from -0.01 (1 year) to 0.40 (10 years), reflecting how their relationship changes across market environments.

GRID vs. MVOL.L - Sectors Allocation Comparison

Sectors
GRID
MVOL.L

Industrials

25.4%
8.9%

Technology

11.9%
24.0%

Utilities

4.0%
7.4%

Consumer Cyclical

2.4%
5.2%

Energy

1.6%
4.0%

Basic Materials

0.8%
0.9%

Communication Services

-

11.4%

Consumer Defensive

-

10.3%

Financial Services

-

13.1%

Healthcare

-

13.8%

Real Estate

-

1.1%

Industrials

GRID
25.4%
MVOL.L
8.9%

Technology

GRID
11.9%
MVOL.L
24.0%

Utilities

GRID
4.0%
MVOL.L
7.4%

Consumer Cyclical

GRID
2.4%
MVOL.L
5.2%

Energy

GRID
1.6%
MVOL.L
4.0%

Basic Materials

GRID
0.8%
MVOL.L
0.9%

Communication Services

GRID

-

MVOL.L
11.4%

Consumer Defensive

GRID

-

MVOL.L
10.3%

Financial Services

GRID

-

MVOL.L
13.1%

Healthcare

GRID

-

MVOL.L
13.8%

Real Estate

GRID

-

MVOL.L
1.1%

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 World Minimum Volatility UCITS

Often compared with GRID:
GRID vs. ICLNGRID vs. NLRGRID vs. VOOGRID vs. POWRGRID vs. VOLTGRID vs. PAVEGRID vs. FIW
Often compared with MVOL.L:
MVOL.L vs. ACWVMVOL.L vs. IWDA.LMVOL.L vs. XDEB.DEMVOL.L vs. VOOMVOL.L vs. XDEM.LMVOL.L vs. USMVMVOL.L vs. SLXX.L

Return for Risk

GRID vs. MVOL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GRID
GRID Risk / Return Rank: 4444
Overall Rank
GRID Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
GRID Sortino Ratio Rank: 3737
Sortino Ratio Rank
GRID Omega Ratio Rank: 3838
Omega Ratio Rank
GRID Calmar Ratio Rank: 5454
Calmar Ratio Rank
GRID Martin Ratio Rank: 5050
Martin Ratio Rank
MVOL.L
MVOL.L Risk / Return Rank: 2020
Overall Rank
MVOL.L Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
MVOL.L Sortino Ratio Rank: 1919
Sortino Ratio Rank
MVOL.L Omega Ratio Rank: 1919
Omega Ratio Rank
MVOL.L Calmar Ratio Rank: 2222
Calmar Ratio Rank
MVOL.L Martin Ratio Rank: 2020
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. MVOL.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 World Minimum Volatility UCITS (MVOL.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.

GRIDMVOL.LDifference
Sharpe ratioReturn per unit of total volatility
1.16
0.59

+0.57

Sortino ratioReturn per unit of downside risk
1.63
0.87

+0.76

Omega ratioGain probability vs. loss probability

1.21

1.11

+0.10

Calmar ratioReturn relative to maximum drawdown

2.18

0.81

+1.37

Martin ratioReturn relative to average drawdown

6.68

1.76

+4.92

GRID vs. MVOL.L - Sharpe Ratio Comparison

The current GRID Sharpe Ratio is 1.16, which is higher than the MVOL.L Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of GRID and MVOL.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. MVOL.L - Drawdown Comparison

The maximum GRID drawdown since its inception was -40.56%, which is greater than MVOL.L's maximum drawdown of -28.82%. Use the drawdown chart below to compare losses from any high point for GRID and MVOL.L.

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Drawdown Indicators

GRIDMVOL.LDifference

Max Drawdown

Largest peak-to-trough decline

-40.56%

-28.82%

-11.74%

Max Drawdown (1Y)

Largest decline over 1 year

-11.73%

-5.78%

-5.95%

Max Drawdown (3Y)

Largest decline over 3 years

-20.62%

-8.15%

-12.47%

Max Drawdown (5Y)

Largest decline over 5 years

-29.64%

-18.52%

-11.12%

Max Drawdown (10Y)

Largest decline over 10 years

-40.56%

-28.82%

-11.74%

Current Drawdown

Current decline from peak

-10.63%

-2.01%

-8.62%

Average Drawdown

Average peak-to-trough decline

-8.41%

-3.30%

-5.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.82%

2.65%

+1.17%

Volatility

GRID vs. MVOL.L - Volatility Comparison

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) has a higher volatility of 8.77% compared to iShares Edge MSCI World Minimum Volatility UCITS (MVOL.L) at 2.29%. This indicates that GRID's price experiences larger fluctuations and is considered to be riskier than MVOL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GRIDMVOL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.77%

2.29%

+6.48%

Volatility (6M)

Calculated over the trailing 6-month period

19.36%

6.07%

+13.29%

Volatility (1Y)

Calculated over the trailing 1-year period

22.18%

7.87%

+14.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.53%

10.67%

+10.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.71%

11.62%

+11.09%

GRID vs. MVOL.L - Expense Ratio Comparison

GRID has a 0.70% expense ratio, which is higher than MVOL.L's 0.35% expense ratio.

Dividends

GRID vs. MVOL.L - Dividend Comparison

GRID's dividend yield for the trailing twelve months is around 0.80%, while MVOL.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		0.80%1.01%1.06%1.23%1.26%0.63%0.68%1.26%1.28%1.07%1.07%1.23%
MVOL.L
iShares Edge MSCI World Minimum Volatility UCITS		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 MVOL.L have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, MVOL.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MVOL.L is cheaper with a 0.35% expense ratio, compared with 0.70% for GRID.

GRID is categorized as Alternative Energy Equities, while MVOL.L is Global Equities. GRID tracks Nasdaq Clean Edge Smart Grid Infrastructure Index, while MVOL.L tracks MSCI ACWI NR USD. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.70% for GRID and 0.35% for MVOL.L.

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