IEVL.L vs. EMNE.DE
IEVL.L (iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating) and EMNE.DE (iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist)) are both Europe Equities funds from iShares - IEVL.L tracks the MSCI Europe Enhanced Value Index while EMNE.DE tracks the MSCI EMU ESG Enhanced Focus CTB Index. Both are passively managed. Over the past 5 years, IEVL.L returned 15.46%/yr vs 10.42%/yr for EMNE.DE. A 0.74 correlation means they provide meaningful diversification when combined. IEVL.L charges 0.25%/yr vs 0.12%/yr for EMNE.DE.
Performance
IEVL.L vs. EMNE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IEVL.L achieves a 15.33% return, which is significantly higher than EMNE.DE's 9.92% return.
IEVL.L
- 1D
- -0.36%
- 1M
- 0.96%
- 6M
- 12.86%
- YTD
- 15.33%
- 1Y
- 32.91%
- 3Y*
- 20.62%
- 5Y*
- 15.46%
- 10Y*
- 10.93%
- ALL TIME*
- 8.97%
EMNE.DE
- 1D
- 0.22%
- 1M
- -2.09%
- 6M
- 8.22%
- YTD
- 9.92%
- 1Y
- 18.82%
- 3Y*
- 14.84%
- 5Y*
- 10.42%
- 10Y*
- —
- ALL TIME*
- 11.44%
IEVL.L vs. EMNE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IEVL.L iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating | 15.33% | 35.04% | 10.57% | 13.52% | -3.79% | 26.68% | -8.75% | 10.12% |
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 9.92% | 22.18% | 9.86% | 18.79% | -12.35% | 22.75% | 1.44% | 16.09% |
Correlation
The correlation between IEVL.L and EMNE.DE is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.74 |
The correlation between IEVL.L and EMNE.DE shifts across timeframes, from 0.74 (all time) to 0.86 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IEVL.L vs. EMNE.DE — Risk / Return Rank
IEVL.L
EMNE.DE
IEVL.L vs. EMNE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.L) and iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.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.
| IEVL.L | EMNE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.24 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 1.72 | +1.63 |
| Martin ratioReturn relative to average drawdown | 12.57 | 6.34 | +6.22 |
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Drawdowns
IEVL.L vs. EMNE.DE - Drawdown Comparison
The maximum IEVL.L drawdown since its inception was -40.09%, which is greater than EMNE.DE's maximum drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for IEVL.L and EMNE.DE.
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Drawdown Indicators
| IEVL.L | EMNE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.09% | -34.37% | -5.72% |
Max Drawdown (1Y)Largest decline over 1 year | -9.79% | -10.90% | +1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -17.43% | -15.10% | -2.33% |
Max Drawdown (5Y)Largest decline over 5 years | -19.55% | -24.70% | +5.15% |
Max Drawdown (10Y)Largest decline over 10 years | -40.09% | — | — |
Current DrawdownCurrent decline from peak | -1.93% | -2.73% | +0.80% |
Average DrawdownAverage peak-to-trough decline | -7.43% | -5.19% | -2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.96% | -0.35% |
Volatility
IEVL.L vs. EMNE.DE - Volatility Comparison
iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.L) has a higher volatility of 4.20% compared to iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) at 3.80%. This indicates that IEVL.L's price experiences larger fluctuations and is considered to be riskier than EMNE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEVL.L | EMNE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 3.80% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 11.81% | 12.63% | -0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.12% | 14.93% | -0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.31% | 16.24% | -0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.28% | 19.98% | -2.70% |
IEVL.L vs. EMNE.DE - Expense Ratio Comparison
IEVL.L has a 0.25% expense ratio, which is higher than EMNE.DE's 0.12% 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
IEVL.L vs. EMNE.DE - Dividend Comparison
IEVL.L has not paid dividends to shareholders, while EMNE.DE's dividend yield for the trailing twelve months is around 2.39%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 2.39% | 2.61% | 2.95% | 3.17% | 3.34% | 2.40% | 1.85% | 2.67% |
IEVL.L iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEVL.L and EMNE.DE have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNE.DE is cheaper with a 0.12% expense ratio, compared with 0.25% for IEVL.L.
IEVL.L tracks MSCI Europe Enhanced Value Index, while EMNE.DE tracks MSCI EMU ESG Enhanced Focus CTB Index. Their fees differ too: 0.25% for IEVL.L and 0.12% for EMNE.DE.
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