IEFS.L vs. CEUR.L
IEFS.L (iShares Edge MSCI Europe Size Factor UCITS ETF) and CEUR.L (Amundi MSCI Europe) are both Europe Equities funds - IEFS.L tracks the MSCI Europe SMID NR EUR while CEUR.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, IEFS.L returned 8.37%/yr vs 9.95%/yr for CEUR.L. Their correlation of 0.93 suggests significant overlap in exposure. IEFS.L charges 0.25%/yr vs 0.05%/yr for CEUR.L.
Performance
IEFS.L vs. CEUR.L - Performance Comparison
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Returns By Period
In the year-to-date period, IEFS.L achieves a 5.78% return, which is significantly lower than CEUR.L's 6.17% return. Over the past 10 years, IEFS.L has underperformed CEUR.L with an annualized return of 8.37%, while CEUR.L has yielded a comparatively higher 9.95% annualized return.
IEFS.L
- 1D
- -0.28%
- 1M
- 1.57%
- YTD
- 5.78%
- 6M
- 8.60%
- 1Y
- 16.22%
- 3Y*
- 12.43%
- 5Y*
- 5.82%
- 10Y*
- 8.37%
CEUR.L
- 1D
- -0.58%
- 1M
- 2.58%
- YTD
- 6.17%
- 6M
- 8.89%
- 1Y
- 19.54%
- 3Y*
- 13.45%
- 5Y*
- 9.37%
- 10Y*
- 9.95%
IEFS.L vs. CEUR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEFS.L iShares Edge MSCI Europe Size Factor UCITS ETF | 5.78% | 24.40% | 0.75% | 11.87% | -13.35% | 12.21% | 7.23% | 20.36% | -12.26% | 18.08% |
CEUR.L Amundi MSCI Europe | 6.17% | 24.46% | 4.90% | 12.93% | -5.96% | 17.02% | 2.29% | 19.59% | -9.49% | 14.99% |
Correlation
The correlation between IEFS.L and CEUR.L is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2015 | 0.93 |
The correlation between IEFS.L and CEUR.L has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.
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Return for Risk
IEFS.L vs. CEUR.L — Risk / Return Rank
IEFS.L
CEUR.L
IEFS.L vs. CEUR.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.L) and Amundi MSCI Europe (CEUR.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.
| IEFS.L | CEUR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.30 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.76 | -0.13 |
| Martin ratioReturn relative to average drawdown | 5.83 | 6.15 | -0.32 |
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
| IEFS.L | CEUR.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 1.56 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.68 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.67 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.55 | -0.03 |
Drawdowns
IEFS.L vs. CEUR.L - Drawdown Comparison
The maximum IEFS.L drawdown since its inception was -31.02%, which is greater than CEUR.L's maximum drawdown of -28.63%. Use the drawdown chart below to compare losses from any high point for IEFS.L and CEUR.L.
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Drawdown Indicators
| IEFS.L | CEUR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.02% | -28.63% | -2.39% |
Max Drawdown (1Y)Largest decline over 1 year | -9.91% | -11.05% | +1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -11.84% | -12.66% | +0.82% |
Max Drawdown (5Y)Largest decline over 5 years | -26.40% | -17.85% | -8.55% |
Max Drawdown (10Y)Largest decline over 10 years | -31.02% | -28.63% | -2.39% |
Current DrawdownCurrent decline from peak | -2.40% | -1.96% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -4.58% | -1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 3.17% | -0.39% |
Volatility
IEFS.L vs. CEUR.L - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.L) is 3.78%, while Amundi MSCI Europe (CEUR.L) has a volatility of 4.36%. This indicates that IEFS.L experiences smaller price fluctuations and is considered to be less risky than CEUR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEFS.L | CEUR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.78% | 4.36% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 9.75% | 10.53% | -0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.72% | 12.44% | -0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 13.88% | +1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 14.97% | +0.62% |
IEFS.L vs. CEUR.L - Expense Ratio Comparison
IEFS.L has a 0.25% expense ratio, which is higher than CEUR.L's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IEFS.L vs. CEUR.L - Dividend Comparison
Neither IEFS.L nor CEUR.L has paid dividends to shareholders.
Frequently Asked Questions
IEFS.L and CEUR.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEUR.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEUR.L is cheaper with a 0.05% expense ratio, compared with 0.25% for IEFS.L.
IEFS.L tracks MSCI Europe SMID NR EUR, while CEUR.L tracks MSCI Europe NR EUR. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.25% for IEFS.L and 0.05% for CEUR.L.
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