IEDL.L vs. MLPQ.L

Last updated Jun 4, 2026

IEDL.L (iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist)) and MLPQ.L (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF) are both exchange-traded funds - IEDL.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR, while MLPQ.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 5 years, IEDL.L returned 14.48%/yr vs 18.53%/yr for MLPQ.L. At a 0.38 correlation, their price movements are largely independent. IEDL.L charges 0.25%/yr vs 0.50%/yr for MLPQ.L.

Performance

IEDL.L vs. MLPQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist) (IEDL.L) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IEDL.L is traded in EUR, while MLPQ.L is traded in GBp. To make them comparable, the MLPQ.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IEDL.L achieves a 14.13% return, which is significantly lower than MLPQ.L's 20.75% return.

IEDL.L

• 1D: -0.48%
• 1M: 4.00%
• YTD: 14.13%
• 6M: 18.09%
• 1Y: 33.31%
• 3Y*: 21.46%
• 5Y*: 14.48%
• 10Y*: —

MLPQ.L

• 1D: 1.33%
• 1M: 2.05%
• YTD: 20.75%
• 6M: 16.91%
• 1Y: 14.02%
• 3Y*: 16.08%
• 5Y*: 18.53%
• 10Y*: 7.10%

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

IEDL.L vs. MLPQ.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IEDL.L iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist)	14.13%	35.00%	10.46%	13.50%	-3.75%	26.71%	-8.76%	21.78%	-12.14%
MLPQ.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF	20.75%	-9.53%	30.65%	15.33%	39.86%	47.67%	-37.15%	10.45%	-7.06%

Correlation

The correlation between IEDL.L and MLPQ.L is -0.05, 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	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Feb 28, 2018	0.38

The correlation between IEDL.L and MLPQ.L shifts across timeframes, from -0.05 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

IEDL.L vs. MLPQ.L - Sectors Allocation Comparison

Sectors	IEDL.L	MLPQ.L
Financial Services	22.6%	-
Industrials	17.0%	0.2%
Healthcare	12.3%	-
Technology	12.2%	-
Consumer Defensive	8.6%	-
Basic Materials	6.2%	-
Consumer Cyclical	6.2%	-
Energy	5.1%	96.7%
Utilities	4.5%	3.2%
Communication Services	3.7%	-
Real Estate	0.6%	-

Return for Risk

IEDL.L vs. MLPQ.L — Risk / Return Rank

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

IEDL.L

IEDL.L Risk / Return Rank: 72
IEDL.L Sharpe Ratio Rank: 75
IEDL.L Sortino Ratio Rank: 73
IEDL.L Omega Ratio Rank: 75
IEDL.L Calmar Ratio Rank: 69
IEDL.L Martin Ratio Rank: 69

MLPQ.L

MLPQ.L Risk / Return Rank: 30
MLPQ.L Sharpe Ratio Rank: 29
MLPQ.L Sortino Ratio Rank: 27
MLPQ.L Omega Ratio Rank: 28
MLPQ.L Calmar Ratio Rank: 38
MLPQ.L Martin Ratio Rank: 30

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.

IEDL.L vs. MLPQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist) (IEDL.L) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.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.

	IEDL.L	MLPQ.L	Difference
Sharpe ratio: Return per unit of total volatility	2.44	0.87	+1.57
Sortino ratio: Return per unit of downside risk	3.32	1.24	+2.08
Omega ratio: Gain probability vs. loss probability	1.45	1.15	+0.29
Calmar ratio: Return relative to maximum drawdown	3.42	1.48	+1.94
Martin ratio: Return relative to average drawdown	12.72	3.26	+9.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEDL.L vs. MLPQ.L - Sharpe Ratio Comparison

The current IEDL.L Sharpe Ratio is 2.44, which is higher than the MLPQ.L Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of IEDL.L and MLPQ.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

	IEDL.L	MLPQ.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	0.87	+1.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	0.91	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.18	+0.41

Drawdowns

IEDL.L vs. MLPQ.L - Drawdown Comparison

The maximum IEDL.L drawdown since its inception was -39.74%, smaller than the maximum MLPQ.L drawdown of -79.57%. Use the drawdown chart below to compare losses from any high point for IEDL.L and MLPQ.L.

Drawdown Indicators

	IEDL.L	MLPQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-39.74%	-79.57%	+39.83%
Max Drawdown (1Y) Largest decline over 1 year	-9.70%	-9.46%	-0.24%
Max Drawdown (3Y) Largest decline over 3 years	-17.52%	-22.31%	+4.79%
Max Drawdown (5Y) Largest decline over 5 years	-19.57%	-22.31%	+2.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-76.50%	—
Current Drawdown Current decline from peak	-0.66%	-2.79%	+2.13%
Average Drawdown Average peak-to-trough decline	-6.19%	-23.19%	+17.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	4.30%	-1.69%

Volatility

IEDL.L vs. MLPQ.L - Volatility Comparison

The current volatility for iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist) (IEDL.L) is 4.83%, while Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.L) has a volatility of 6.17%. This indicates that IEDL.L experiences smaller price fluctuations and is considered to be less risky than MLPQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEDL.L	MLPQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	6.17%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	10.95%	12.69%	-1.74%
Volatility (1Y) Calculated over the trailing 1-year period	13.60%	16.19%	-2.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	20.44%	-5.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.97%	28.62%	-10.65%

IEDL.L vs. MLPQ.L - Expense Ratio Comparison

IEDL.L has a 0.25% expense ratio, which is lower than MLPQ.L's 0.50% expense ratio.

Dividends

IEDL.L vs. MLPQ.L - Dividend Comparison

IEDL.L's dividend yield for the trailing twelve months is around 3.01%, while MLPQ.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IEDL.L iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist)	3.01%	3.44%	4.22%	4.76%	4.23%	3.56%	2.32%	3.86%	3.19%
MLPQ.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IEDL.L and MLPQ.L in my portfolio?

IEDL.L and MLPQ.L have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IEDL.L or MLPQ.L?

On fees, IEDL.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, IEDL.L or MLPQ.L?

IEDL.L is cheaper with a 0.25% expense ratio, compared with 0.50% for MLPQ.L.

What is the main difference between IEDL.L and MLPQ.L?

IEDL.L is categorized as Europe Equities, while MLPQ.L is Energy Equities. IEDL.L tracks MSCI Europe Value NR EUR, while MLPQ.L tracks MSCI World/Energy NR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for IEDL.L and 0.50% for MLPQ.L.