IEFS.L vs. CMB1.L
IEFS.L (iShares Edge MSCI Europe Size Factor UCITS ETF) and CMB1.L (iShares FTSE MIB UCITS ETF (Acc)) are both Europe Equities funds from iShares - IEFS.L tracks the MSCI Europe SMID NR EUR while CMB1.L tracks the FTSE Italia AllShare TR EUR. Both are passively managed. Over the past 10 years, IEFS.L returned 9.22%/yr vs 17.45%/yr for CMB1.L. A 0.79 correlation means they provide meaningful diversification when combined. IEFS.L charges 0.25%/yr vs 0.33%/yr for CMB1.L.
Performance
IEFS.L vs. CMB1.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IEFS.L achieves a 8.09% return, which is significantly lower than CMB1.L's 16.99% return. Over the past 10 years, IEFS.L has underperformed CMB1.L with an annualized return of 9.22%, while CMB1.L has yielded a comparatively higher 17.45% annualized return.
IEFS.L
- 1D
- 0.33%
- 1M
- 0.43%
- YTD
- 8.09%
- 6M
- 8.65%
- 1Y
- 18.49%
- 3Y*
- 14.67%
- 5Y*
- 6.03%
- 10Y*
- 9.22%
CMB1.L
- 1D
- 0.03%
- 1M
- 3.29%
- YTD
- 16.99%
- 6M
- 17.62%
- 1Y
- 38.46%
- 3Y*
- 29.77%
- 5Y*
- 20.58%
- 10Y*
- 17.45%
IEFS.L vs. CMB1.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 | 8.09% | 24.40% | 0.75% | 11.87% | -13.35% | 12.21% | 7.23% | 20.36% | -12.26% | 18.08% |
CMB1.L iShares FTSE MIB UCITS ETF (Acc) | 16.99% | 43.83% | 13.25% | 30.68% | -3.56% | 18.29% | 1.52% | 24.83% | -13.79% | 22.48% |
Correlation
The correlation between IEFS.L and CMB1.L is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.79 |
The correlation between IEFS.L and CMB1.L has been stable across timeframes, ranging from 0.71 to 0.81 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IEFS.L vs. CMB1.L — Risk / Return Rank
IEFS.L
CMB1.L
IEFS.L vs. CMB1.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 iShares FTSE MIB UCITS ETF (Acc) (CMB1.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.
| IEFS.L | CMB1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.44 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 3.71 | -1.85 |
| Martin ratioReturn relative to average drawdown | 6.61 | 13.55 | -6.94 |
Loading charts...
Drawdowns
IEFS.L vs. CMB1.L - Drawdown Comparison
The maximum IEFS.L drawdown since its inception was -31.02%, smaller than the maximum CMB1.L drawdown of -56.05%. Use the drawdown chart below to compare losses from any high point for IEFS.L and CMB1.L.
Loading charts...
Drawdown Indicators
| IEFS.L | CMB1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.02% | -56.05% | +25.03% |
Max Drawdown (1Y)Largest decline over 1 year | -9.91% | -10.32% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -11.84% | -15.62% | +3.78% |
Max Drawdown (5Y)Largest decline over 5 years | -26.40% | -24.19% | -2.21% |
Max Drawdown (10Y)Largest decline over 10 years | -31.02% | -36.61% | +5.59% |
Current DrawdownCurrent decline from peak | -0.27% | -2.84% | +2.57% |
Average DrawdownAverage peak-to-trough decline | -5.82% | -15.20% | +9.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 2.83% | -0.04% |
Volatility
IEFS.L vs. CMB1.L - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.L) is 2.04%, while iShares FTSE MIB UCITS ETF (Acc) (CMB1.L) has a volatility of 3.96%. This indicates that IEFS.L experiences smaller price fluctuations and is considered to be less risky than CMB1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IEFS.L | CMB1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.04% | 3.96% | -1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 9.73% | 12.40% | -2.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.53% | 15.07% | -3.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.97% | 18.01% | -3.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.45% | 20.12% | -4.67% |
IEFS.L vs. CMB1.L - Expense Ratio Comparison
IEFS.L has a 0.25% expense ratio, which is lower than CMB1.L's 0.33% expense ratio.
Dividends
IEFS.L vs. CMB1.L - Dividend Comparison
Neither IEFS.L nor CMB1.L has paid dividends to shareholders.
Frequently Asked Questions
IEFS.L and CMB1.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEFS.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEFS.L is cheaper with a 0.25% expense ratio, compared with 0.33% for CMB1.L.
IEFS.L tracks MSCI Europe SMID NR EUR, while CMB1.L tracks FTSE Italia AllShare TR EUR. Their fees differ too: 0.25% for IEFS.L and 0.33% for CMB1.L.
Find the right allocation for IEFS.L and CMB1.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer