HSEU.L vs. MVEU.L
HSEU.L (HSBC Europe Screened Equity UCITS ETF) and MVEU.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)) are both Europe Equities funds - HSEU.L tracks the HSBC Europe Screened Equity UCITS ETF while MVEU.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, HSEU.L returned 10.23%/yr vs 7.00%/yr for MVEU.L. Their correlation of 0.83 suggests significant overlap in exposure. HSEU.L charges 0.15%/yr vs 0.25%/yr for MVEU.L.
Performance
HSEU.L vs. MVEU.L - Performance Comparison
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Returns By Period
In the year-to-date period, HSEU.L achieves a 14.74% return, which is significantly higher than MVEU.L's 8.54% return.
HSEU.L
- 1D
- -0.57%
- 1M
- 0.77%
- 6M
- 11.27%
- YTD
- 14.74%
- 1Y
- 26.09%
- 3Y*
- 15.85%
- 5Y*
- 10.23%
- 10Y*
- —
MVEU.L
- 1D
- -0.03%
- 1M
- 1.45%
- 6M
- 6.45%
- YTD
- 8.54%
- 1Y
- 11.41%
- 3Y*
- 11.85%
- 5Y*
- 7.00%
- 10Y*
- 6.87%
HSEU.L vs. MVEU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HSEU.L HSBC Europe Screened Equity UCITS ETF | 14.74% | 18.95% | 9.59% | 15.27% | -11.04% | 18.74% | 9.08% |
MVEU.L iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) | 8.54% | 11.66% | 11.79% | 10.66% | -12.67% | 21.67% | 3.65% |
Correlation
The correlation between HSEU.L and MVEU.L is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.83 |
The correlation between HSEU.L and MVEU.L shifts across timeframes, from 0.69 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HSEU.L vs. MVEU.L — Risk / Return Rank
HSEU.L
MVEU.L
HSEU.L vs. MVEU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Europe Screened Equity UCITS ETF (HSEU.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.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.
| HSEU.L | MVEU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.24 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 1.61 | +0.92 |
| Martin ratioReturn relative to average drawdown | 9.67 | 4.99 | +4.68 |
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Drawdowns
HSEU.L vs. MVEU.L - Drawdown Comparison
The maximum HSEU.L drawdown since its inception was -21.47%, smaller than the maximum MVEU.L drawdown of -30.56%. Use the drawdown chart below to compare losses from any high point for HSEU.L and MVEU.L.
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Drawdown Indicators
| HSEU.L | MVEU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.47% | -30.56% | +9.09% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -7.04% | -3.44% |
Max Drawdown (3Y)Largest decline over 3 years | -14.61% | -10.78% | -3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -21.47% | -19.51% | -1.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.56% | — |
Current DrawdownCurrent decline from peak | -2.10% | -0.72% | -1.38% |
Average DrawdownAverage peak-to-trough decline | -3.94% | -4.53% | +0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 2.28% | +0.47% |
Volatility
HSEU.L vs. MVEU.L - Volatility Comparison
HSBC Europe Screened Equity UCITS ETF (HSEU.L) has a higher volatility of 3.76% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L) at 2.44%. This indicates that HSEU.L's price experiences larger fluctuations and is considered to be riskier than MVEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSEU.L | MVEU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.76% | 2.44% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 11.83% | 7.21% | +4.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.86% | 8.79% | +5.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.49% | 11.05% | +3.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.71% | 12.15% | +2.56% |
HSEU.L vs. MVEU.L - Expense Ratio Comparison
HSEU.L has a 0.15% expense ratio, which is lower than MVEU.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HSEU.L vs. MVEU.L - Dividend Comparison
Neither HSEU.L nor MVEU.L has paid dividends to shareholders.
Frequently Asked Questions
HSEU.L and MVEU.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HSEU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HSEU.L is cheaper with a 0.15% expense ratio, compared with 0.25% for MVEU.L.
HSEU.L tracks HSBC Europe Screened Equity UCITS ETF, while MVEU.L tracks MSCI Europe NR EUR. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.15% for HSEU.L and 0.25% for MVEU.L.
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