IEFV.L vs. SPYQ.DE
IEFV.L (iShares Edge MSCI Europe Value Factor UCITS ETF) and SPYQ.DE (SPDR MSCI Europe Industrials UCITS ETF) are both exchange-traded funds - IEFV.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR, while SPYQ.DE is a Industrials Equities fund tracking the MSCI Europe Industrials 20/35 Capped. Both are passively managed. Over the past 10 years, IEFV.L returned 12.53%/yr vs 14.07%/yr for SPYQ.DE. A 0.77 correlation means they provide meaningful diversification when combined. IEFV.L charges 0.25%/yr vs 0.18%/yr for SPYQ.DE.
Performance
IEFV.L vs. SPYQ.DE - Performance Comparison
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Different Trading Currencies
IEFV.L is traded in GBp, while SPYQ.DE is traded in EUR. To make them comparable, the SPYQ.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEFV.L achieves a 13.29% return, which is significantly higher than SPYQ.DE's 6.75% return. Over the past 10 years, IEFV.L has underperformed SPYQ.DE with an annualized return of 12.53%, while SPYQ.DE has yielded a comparatively higher 14.07% annualized return.
IEFV.L
- 1D
- 2.32%
- 1M
- 1.66%
- YTD
- 13.29%
- 6M
- 14.84%
- 1Y
- 36.00%
- 3Y*
- 21.49%
- 5Y*
- 14.55%
- 10Y*
- 12.53%
SPYQ.DE
- 1D
- 1.97%
- 1M
- -0.80%
- YTD
- 6.75%
- 6M
- 7.38%
- 1Y
- 18.21%
- 3Y*
- 18.68%
- 5Y*
- 12.70%
- 10Y*
- 14.07%
IEFV.L vs. SPYQ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEFV.L iShares Edge MSCI Europe Value Factor UCITS ETF | 13.29% | 42.20% | 5.40% | 11.41% | 1.47% | 18.58% | -3.74% | 15.71% | -12.67% | 14.28% |
SPYQ.DE SPDR MSCI Europe Industrials UCITS ETF | 6.75% | 32.05% | 9.38% | 24.15% | -11.97% | 19.02% | 9.89% | 30.40% | -12.91% | 20.45% |
Correlation
The correlation between IEFV.L and SPYQ.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.77 |
The correlation between IEFV.L and SPYQ.DE has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.
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Return for Risk
IEFV.L vs. SPYQ.DE — Risk / Return Rank
IEFV.L
SPYQ.DE
IEFV.L vs. SPYQ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) and SPDR MSCI Europe Industrials UCITS ETF (SPYQ.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.
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.
| IEFV.L | SPYQ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.62 | ||
| Sortino ratioReturn per unit of downside risk | +2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.17 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 1.25 | +1.99 |
| Martin ratioReturn relative to average drawdown | 11.85 | 4.38 | +7.48 |
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Drawdowns
IEFV.L vs. SPYQ.DE - Drawdown Comparison
The maximum IEFV.L drawdown since its inception was -34.64%, roughly equal to the maximum SPYQ.DE drawdown of -34.89%. Use the drawdown chart below to compare losses from any high point for IEFV.L and SPYQ.DE.
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Drawdown Indicators
| IEFV.L | SPYQ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.64% | -34.89% | +0.25% |
Max Drawdown (1Y)Largest decline over 1 year | -10.57% | -13.99% | +3.42% |
Max Drawdown (3Y)Largest decline over 3 years | -15.02% | -16.84% | +1.82% |
Max Drawdown (5Y)Largest decline over 5 years | -16.16% | -25.12% | +8.96% |
Max Drawdown (10Y)Largest decline over 10 years | -34.64% | -34.89% | +0.25% |
Current DrawdownCurrent decline from peak | -0.39% | -4.61% | +4.22% |
Average DrawdownAverage peak-to-trough decline | -6.20% | -6.43% | +0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 4.00% | -1.10% |
Volatility
IEFV.L vs. SPYQ.DE - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) is 4.41%, while SPDR MSCI Europe Industrials UCITS ETF (SPYQ.DE) has a volatility of 6.05%. This indicates that IEFV.L experiences smaller price fluctuations and is considered to be less risky than SPYQ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEFV.L | SPYQ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.41% | 6.05% | -1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 11.07% | 16.46% | -5.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.57% | 19.43% | -5.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.11% | 18.72% | -1.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.63% | 19.10% | -1.47% |
IEFV.L vs. SPYQ.DE - Expense Ratio Comparison
IEFV.L has a 0.25% expense ratio, which is higher than SPYQ.DE's 0.18% 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
IEFV.L vs. SPYQ.DE - Dividend Comparison
Neither IEFV.L nor SPYQ.DE has paid dividends to shareholders.
Frequently Asked Questions
IEFV.L and SPYQ.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYQ.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYQ.DE is cheaper with a 0.18% expense ratio, compared with 0.25% for IEFV.L.
IEFV.L is categorized as Europe Equities, while SPYQ.DE is Industrials Equities. IEFV.L tracks MSCI Europe Value NR EUR, while SPYQ.DE tracks MSCI Europe Industrials 20/35 Capped. They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for IEFV.L and 0.18% for SPYQ.DE.
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