IEDL.L vs. SMLD.DE
IEDL.L (iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist)) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both exchange-traded funds - IEDL.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR, while SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite. Both are passively managed. Over the past 5 years, IEDL.L returned 14.48%/yr vs 25.41%/yr for SMLD.DE. At a 0.34 correlation, their price movements are largely independent. IEDL.L charges 0.25%/yr vs 0.50%/yr for SMLD.DE.
Performance
IEDL.L vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IEDL.L achieves a 14.13% return, which is significantly lower than SMLD.DE's 21.56% 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*
- —
SMLD.DE
- 1D
- 1.22%
- 1M
- 0.70%
- YTD
- 21.56%
- 6M
- 17.00%
- 1Y
- 13.94%
- 3Y*
- 20.94%
- 5Y*
- 25.41%
- 10Y*
- 15.73%
IEDL.L vs. SMLD.DE - 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% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 21.56% | -8.86% | 35.22% | 27.59% | 49.18% | 62.11% | -27.45% | 24.27% | -0.11% |
Correlation
The correlation between IEDL.L and SMLD.DE is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2018 | 0.34 |
The correlation between IEDL.L and SMLD.DE shifts across timeframes, from -0.03 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IEDL.L vs. SMLD.DE — Risk / Return Rank
IEDL.L
SMLD.DE
IEDL.L vs. SMLD.DE - 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 Dist (SMLD.DE). 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 | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.92 | ||
| Sortino ratioReturn per unit of downside risk | +2.40 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.15 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 0.94 | +2.48 |
| Martin ratioReturn relative to average drawdown | 12.72 | 1.94 | +10.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEDL.L | SMLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.44 | 0.52 | +1.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | 1.11 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.29 | +0.30 |
Drawdowns
IEDL.L vs. SMLD.DE - Drawdown Comparison
The maximum IEDL.L drawdown since its inception was -39.74%, smaller than the maximum SMLD.DE drawdown of -73.78%. Use the drawdown chart below to compare losses from any high point for IEDL.L and SMLD.DE.
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Drawdown Indicators
| IEDL.L | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.74% | -73.78% | +34.04% |
Max Drawdown (1Y)Largest decline over 1 year | -9.70% | -14.77% | +5.07% |
Max Drawdown (3Y)Largest decline over 3 years | -17.52% | -22.99% | +5.47% |
Max Drawdown (5Y)Largest decline over 5 years | -19.57% | -22.99% | +3.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.79% | — |
Current DrawdownCurrent decline from peak | -0.66% | -2.82% | +2.16% |
Average DrawdownAverage peak-to-trough decline | -6.19% | -17.77% | +11.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 7.16% | -4.55% |
Volatility
IEDL.L vs. SMLD.DE - 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 Dist (SMLD.DE) has a volatility of 6.29%. This indicates that IEDL.L experiences smaller price fluctuations and is considered to be less risky than SMLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEDL.L | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.83% | 6.29% | -1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 10.95% | 12.77% | -1.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.60% | 26.66% | -13.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.42% | 22.60% | -7.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.97% | 34.71% | -16.74% |
IEDL.L vs. SMLD.DE - Expense Ratio Comparison
IEDL.L has a 0.25% expense ratio, which is lower than SMLD.DE's 0.50% expense ratio.
Dividends
IEDL.L vs. SMLD.DE - Dividend Comparison
IEDL.L's dividend yield for the trailing twelve months is around 3.01%, less than SMLD.DE's 7.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.50% | 8.45% | 12.45% | 18.33% | 14.40% | 17.94% | 25.01% | 18.21% | 21.61% | 18.39% | 14.39% | 20.63% |
Frequently Asked Questions
IEDL.L and SMLD.DE have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
IEDL.L is cheaper with a 0.25% expense ratio, compared with 0.50% for SMLD.DE.
IEDL.L is categorized as Europe Equities, while SMLD.DE is Energy Equities. IEDL.L tracks MSCI Europe Value NR EUR, while SMLD.DE tracks Morningstar MLP Composite. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for IEDL.L and 0.50% for SMLD.DE.
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