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IEMD.L vs. MMS.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEMD.L vs. MMS.L

Last updated Jun 5, 2026

IEMD.L (iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)) and MMS.L (Lyxor MSCI EMU Small Cap (DR) UCITS ETF - Dist) are both exchange-traded funds - IEMD.L is a Momentum fund tracking the MSCI Europe Momentum Index, while MMS.L is a Europe Equities fund tracking the MSCI EMU Small Cap NR EUR. Both are passively managed. At a 0.17 correlation, their price movements are largely independent. IEMD.L charges 0.25%/yr vs 0.40%/yr for MMS.L.

Performance

IEMD.L vs. MMS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) (IEMD.L) and Lyxor MSCI EMU Small Cap (DR) UCITS ETF - Dist (MMS.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IEMD.L is traded in EUR, while MMS.L is traded in GBP. To make them comparable, the MMS.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

IEMD.L

1D
-0.30%
1M
2.61%
YTD
8.04%
6M
11.36%
1Y
17.49%
3Y*
20.17%
5Y*
11.34%
10Y*
—

MMS.L

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEMD.L vs. MMS.L - Yearly Performance Comparison

2026 (YTD)20252024
IEMD.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)		8.04%26.34%12.88%
MMS.L
Lyxor MSCI EMU Small Cap (DR) UCITS ETF - Dist		0.01%-5.22%3.31%

Correlation

The correlation between IEMD.L and MMS.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.17

Correlation (All Time)
Calculated using the full available price history since Feb 23, 2024

0.17

IEMD.L vs. MMS.L - Sectors Allocation Comparison

Sectors
IEMD.L
MMS.L

Financial Services

23.7%
16.9%

Healthcare

15.6%
7.7%

Industrials

15.2%
21.8%

Utilities

12.6%
3.4%

Energy

11.0%
5.6%

Technology

7.9%
10.3%

Basic Materials

7.6%
5.9%

Communication Services

2.9%
3.0%

Consumer Defensive

2.8%
1.7%

Consumer Cyclical

0.5%
10.9%

Real Estate

0.4%
12.8%

Financial Services

IEMD.L
23.7%
MMS.L
16.9%

Healthcare

IEMD.L
15.6%
MMS.L
7.7%

Industrials

IEMD.L
15.2%
MMS.L
21.8%

Utilities

IEMD.L
12.6%
MMS.L
3.4%

Energy

IEMD.L
11.0%
MMS.L
5.6%

Technology

IEMD.L
7.9%
MMS.L
10.3%

Basic Materials

IEMD.L
7.6%
MMS.L
5.9%

Communication Services

IEMD.L
2.9%
MMS.L
3.0%

Consumer Defensive

IEMD.L
2.8%
MMS.L
1.7%

Consumer Cyclical

IEMD.L
0.5%
MMS.L
10.9%

Real Estate

IEMD.L
0.4%
MMS.L
12.8%

Compare stocks, funds, or ETFs

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iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)

Lyxor MSCI EMU Small Cap (DR) UCITS ETF - Dist

Often compared with IEMD.L:
IEMD.L vs. CEMR.DEIEMD.L vs. EIMI.LIEMD.L vs. ZPDX.DEIEMD.L vs. URTHIEMD.L vs. IVVIEMD.L vs. VOOIEMD.L vs. IWMO.L
Often compared with MMS.L:
MMS.L vs. VINEXMMS.L vs. EDIV.LMMS.L vs. EEUD.LMMS.L vs. WDEP.LMMS.L vs. PRIZ.LMMS.L vs. EGRW.LMMS.L vs. LCPE.L

Return for Risk

IEMD.L vs. MMS.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEMD.L
IEMD.L Risk / Return Rank: 3131
Overall Rank
IEMD.L Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
IEMD.L Sortino Ratio Rank: 3030
Sortino Ratio Rank
IEMD.L Omega Ratio Rank: 3030
Omega Ratio Rank
IEMD.L Calmar Ratio Rank: 3131
Calmar Ratio Rank
IEMD.L Martin Ratio Rank: 3737
Martin Ratio Rank
MMS.L
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IEMD.L vs. MMS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) (IEMD.L) and Lyxor MSCI EMU Small Cap (DR) UCITS ETF - Dist (MMS.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.

IEMD.LMMS.LDifference
Sharpe ratioReturn per unit of total volatility
1.05

—

—

Sortino ratioReturn per unit of downside risk
1.61

—

—

Omega ratioGain probability vs. loss probability

1.20

—

—

Calmar ratioReturn relative to maximum drawdown

1.51

—

—

Martin ratioReturn relative to average drawdown

5.57

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEMD.L vs. MMS.L - Sharpe Ratio Comparison

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Sharpe Ratios by Period

IEMD.LMMS.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.05

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.70

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.70

—

—

Drawdowns

IEMD.L vs. MMS.L - Drawdown Comparison

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Drawdown Indicators

IEMD.LMMS.LDifference

Max Drawdown

Largest peak-to-trough decline

-30.77%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-11.53%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-15.64%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-23.73%

—

—

Current Drawdown

Current decline from peak

-1.00%

—

—

Average Drawdown

Average peak-to-trough decline

-5.91%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

—

—

Volatility

IEMD.L vs. MMS.L - Volatility Comparison

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Volatility by Period

IEMD.LMMS.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.68%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

14.14%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

16.56%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.11%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.82%

—

—

IEMD.L vs. MMS.L - Expense Ratio Comparison

IEMD.L has a 0.25% expense ratio, which is lower than MMS.L's 0.40% expense ratio.

Dividends

IEMD.L vs. MMS.L - Dividend Comparison

IEMD.L's dividend yield for the trailing twelve months is around 1.71%, while MMS.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018
IEMD.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)		1.71%1.85%2.70%2.78%2.90%1.77%1.36%2.00%2.51%
MMS.L
Lyxor MSCI EMU Small Cap (DR) UCITS ETF - Dist		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IEMD.L and MMS.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEMD.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IEMD.L is cheaper with a 0.25% expense ratio, compared with 0.40% for MMS.L.

IEMD.L is categorized as Momentum, while MMS.L is Europe Equities. IEMD.L tracks MSCI Europe Momentum Index, while MMS.L tracks MSCI EMU Small Cap NR EUR. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.25% for IEMD.L and 0.40% for MMS.L.

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