IEFS.L vs. MVED.L
IEFS.L (iShares Edge MSCI Europe Size Factor UCITS ETF) and MVED.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)) are both Europe Equities funds - IEFS.L tracks the MSCI Europe SMID NR EUR while MVED.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, IEFS.L returned 5.82%/yr vs 6.12%/yr for MVED.L. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.
Performance
IEFS.L vs. MVED.L - Performance Comparison
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Different Trading Currencies
IEFS.L is traded in GBp, while MVED.L is traded in EUR. To make them comparable, the MVED.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEFS.L achieves a 5.78% return, which is significantly higher than MVED.L's 3.44% 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%
MVED.L
- 1D
- -0.18%
- 1M
- -0.31%
- YTD
- 3.44%
- 6M
- 4.45%
- 1Y
- 5.52%
- 3Y*
- 8.05%
- 5Y*
- 6.12%
- 10Y*
- —
IEFS.L vs. MVED.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -11.10% |
MVED.L iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) | 3.44% | 14.60% | 3.94% | 8.51% | -8.08% | 14.30% | 1.58% | 15.71% | 0.07% |
Correlation
The correlation between IEFS.L and MVED.L is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2018 | 0.77 |
The correlation between IEFS.L and MVED.L shifts across timeframes, from 0.66 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IEFS.L vs. MVED.L — Risk / Return Rank
IEFS.L
MVED.L
IEFS.L vs. MVED.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 Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.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 | MVED.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.11 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 0.66 | +0.97 |
| Martin ratioReturn relative to average drawdown | 5.83 | 1.89 | +3.94 |
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 | MVED.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 0.60 | +0.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.54 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.48 | +0.04 |
Drawdowns
IEFS.L vs. MVED.L - Drawdown Comparison
The maximum IEFS.L drawdown since its inception was -31.02%, which is greater than MVED.L's maximum drawdown of -24.31%. Use the drawdown chart below to compare losses from any high point for IEFS.L and MVED.L.
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Drawdown Indicators
| IEFS.L | MVED.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.02% | -24.31% | -6.71% |
Max Drawdown (1Y)Largest decline over 1 year | -9.91% | -8.28% | -1.63% |
Max Drawdown (3Y)Largest decline over 3 years | -11.84% | -8.28% | -3.56% |
Max Drawdown (5Y)Largest decline over 5 years | -26.40% | -17.36% | -9.04% |
Max Drawdown (10Y)Largest decline over 10 years | -31.02% | — | — |
Current DrawdownCurrent decline from peak | -2.40% | -5.72% | +3.32% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -4.10% | -1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 2.92% | -0.14% |
Volatility
IEFS.L vs. MVED.L - Volatility Comparison
iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.L) has a higher volatility of 3.78% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.L) at 2.96%. This indicates that IEFS.L's price experiences larger fluctuations and is considered to be riskier than MVED.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 | MVED.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.78% | 2.96% | +0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 9.75% | 7.64% | +2.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.72% | 9.19% | +2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 11.28% | +3.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 12.95% | +2.64% |
IEFS.L vs. MVED.L - Expense Ratio Comparison
Both IEFS.L and MVED.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IEFS.L vs. MVED.L - Dividend Comparison
Neither IEFS.L nor MVED.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IEFS.L iShares Edge MSCI Europe Size Factor UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MVED.L iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) | 0.00% | 0.00% | 0.00% | 2.67% | 2.95% | 2.16% | 2.54% | 2.81% | 2.50% |
Frequently Asked Questions
IEFS.L and MVED.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IEFS.L and MVED.L have the same expense ratio: 0.25% per year.
IEFS.L tracks MSCI Europe SMID NR EUR, while MVED.L tracks MSCI Europe NR EUR. They also come from different issuers: iShares and BlackRock.
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