IEFS.L vs. SPOL.L
IEFS.L (iShares Edge MSCI Europe Size Factor UCITS ETF) and SPOL.L (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds from iShares - IEFS.L tracks the MSCI Europe SMID NR EUR while SPOL.L tracks the MSCI Poland NR EUR. Both are passively managed. Over the past 10 years, IEFS.L returned 8.37%/yr vs 10.37%/yr for SPOL.L. A 0.58 correlation means they provide meaningful diversification when combined. IEFS.L charges 0.25%/yr vs 0.74%/yr for SPOL.L.
Performance
IEFS.L vs. SPOL.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 SPOL.L's 14.98% return. Over the past 10 years, IEFS.L has underperformed SPOL.L with an annualized return of 8.37%, while SPOL.L has yielded a comparatively higher 10.37% 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%
SPOL.L
- 1D
- 0.05%
- 1M
- 6.06%
- YTD
- 14.98%
- 6M
- 24.72%
- 1Y
- 44.16%
- 3Y*
- 30.21%
- 5Y*
- 14.86%
- 10Y*
- 10.37%
IEFS.L vs. SPOL.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% |
SPOL.L iShares MSCI Poland UCITS ETF USD (Acc) | 14.98% | 61.27% | -4.98% | 41.52% | -17.96% | 8.30% | -14.19% | -9.68% | -7.69% | 40.45% |
Correlation
The correlation between IEFS.L and SPOL.L is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2015 | 0.58 |
The correlation between IEFS.L and SPOL.L has been stable across timeframes, ranging from 0.55 to 0.58 - a consistent structural relationship.
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Return for Risk
IEFS.L vs. SPOL.L — Risk / Return Rank
IEFS.L
SPOL.L
IEFS.L vs. SPOL.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 MSCI Poland UCITS ETF USD (Acc) (SPOL.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 | SPOL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.31 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 4.62 | -2.99 |
| Martin ratioReturn relative to average drawdown | 5.83 | 11.04 | -5.22 |
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 | SPOL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 1.90 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.55 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.41 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.16 | +0.36 |
Drawdowns
IEFS.L vs. SPOL.L - Drawdown Comparison
The maximum IEFS.L drawdown since its inception was -31.02%, smaller than the maximum SPOL.L drawdown of -56.64%. Use the drawdown chart below to compare losses from any high point for IEFS.L and SPOL.L.
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Drawdown Indicators
| IEFS.L | SPOL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.02% | -56.64% | +25.62% |
Max Drawdown (1Y)Largest decline over 1 year | -9.91% | -9.51% | -0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -11.84% | -19.47% | +7.63% |
Max Drawdown (5Y)Largest decline over 5 years | -26.40% | -46.27% | +19.87% |
Max Drawdown (10Y)Largest decline over 10 years | -31.02% | -56.64% | +25.62% |
Current DrawdownCurrent decline from peak | -2.40% | -1.16% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -21.80% | +15.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 3.99% | -1.21% |
Volatility
IEFS.L vs. SPOL.L - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.L) is 3.78%, while iShares MSCI Poland UCITS ETF USD (Acc) (SPOL.L) has a volatility of 7.20%. This indicates that IEFS.L experiences smaller price fluctuations and is considered to be less risky than SPOL.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 | SPOL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.78% | 7.20% | -3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 9.75% | 17.30% | -7.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.72% | 23.18% | -11.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 27.10% | -12.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 25.42% | -9.83% |
IEFS.L vs. SPOL.L - Expense Ratio Comparison
IEFS.L has a 0.25% expense ratio, which is lower than SPOL.L's 0.74% expense ratio.
Dividends
IEFS.L vs. SPOL.L - Dividend Comparison
Neither IEFS.L nor SPOL.L has paid dividends to shareholders.
Frequently Asked Questions
IEFS.L and SPOL.L have a correlation of 0.55, 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 0.74% for SPOL.L.
IEFS.L tracks MSCI Europe SMID NR EUR, while SPOL.L tracks MSCI Poland NR EUR. Their fees differ too: 0.25% for IEFS.L and 0.74% for SPOL.L.
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