IMV.L vs. FEQD.L

Last updated Jun 5, 2026

IMV.L (iShares Edge MSCI Europe Min Volatility UCITS) and FEQD.L (Fidelity Europe Quality Income UCITS ETF) are both Europe Equities funds - IMV.L tracks the MSCI Europe NR EUR while FEQD.L tracks the MSCI Europe High Div Yld NR EUR. Both are passively managed. Over the past 5 years, IMV.L returned 7.54%/yr vs 7.92%/yr for FEQD.L. Their correlation of 0.86 suggests significant overlap in exposure. IMV.L charges 0.25%/yr vs 0.30%/yr for FEQD.L.

Performance

IMV.L vs. FEQD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) and Fidelity Europe Quality Income UCITS ETF (FEQD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IMV.L is traded in GBp, while FEQD.L is traded in GBP. To make them comparable, the FEQD.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IMV.L achieves a 4.72% return, which is significantly lower than FEQD.L's 7.24% return.

IMV.L

• 1D: 0.51%
• 1M: 1.21%
• YTD: 4.72%
• 6M: 5.90%
• 1Y: 8.30%
• 3Y*: 10.49%
• 5Y*: 7.54%
• 10Y*: 7.68%

FEQD.L

• 1D: 0.66%
• 1M: 3.00%
• YTD: 7.24%
• 6M: 8.98%
• 1Y: 19.46%
• 3Y*: 13.43%
• 5Y*: 7.92%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IMV.L vs. FEQD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMV.L iShares Edge MSCI Europe Min Volatility UCITS	4.72%	17.66%	6.63%	8.56%	-7.83%	13.68%	1.50%	16.37%	-2.91%	-0.31%
FEQD.L Fidelity Europe Quality Income UCITS ETF	7.24%	23.82%	1.33%	15.49%	-11.08%	17.26%	2.85%	21.96%	-7.38%	-0.52%

Correlation

The correlation between IMV.L and FEQD.L is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Nov 2, 2017	0.86

Over the past year, the correlation between IMV.L and FEQD.L has dropped to 0.65 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.

IMV.L vs. FEQD.L - Sectors Allocation Comparison

Sectors	IMV.L	FEQD.L
Financial Services	17.9%	24.3%
Industrials	15.4%	19.8%
Consumer Defensive	13.1%	6.7%
Healthcare	13.0%	12.8%
Utilities	10.2%	4.7%
Communication Services	9.6%	3.6%
Energy	7.1%	5.4%
Basic Materials	5.6%	4.9%
Consumer Cyclical	3.6%	7.9%
Technology	2.8%	9.1%
Real Estate	1.6%	1.0%

Return for Risk

IMV.L vs. FEQD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IMV.L

IMV.L Risk / Return Rank: 24
IMV.L Sharpe Ratio Rank: 26
IMV.L Sortino Ratio Rank: 24
IMV.L Omega Ratio Rank: 26
IMV.L Calmar Ratio Rank: 22
IMV.L Martin Ratio Rank: 23

FEQD.L

FEQD.L Risk / Return Rank: 43
FEQD.L Sharpe Ratio Rank: 44
FEQD.L Sortino Ratio Rank: 44
FEQD.L Omega Ratio Rank: 44
FEQD.L Calmar Ratio Rank: 41
FEQD.L Martin Ratio Rank: 42

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.

IMV.L vs. FEQD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) and Fidelity Europe Quality Income UCITS ETF (FEQD.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.

	IMV.L	FEQD.L	Difference
Sharpe ratio: Return per unit of total volatility	0.91	1.53	-0.62
Sortino ratio: Return per unit of downside risk	1.27	2.16	-0.89
Omega ratio: Gain probability vs. loss probability	1.17	1.28	-0.11
Calmar ratio: Return relative to maximum drawdown	0.97	2.01	-1.04
Martin ratio: Return relative to average drawdown	2.92	6.72	-3.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMV.L vs. FEQD.L - Sharpe Ratio Comparison

The current IMV.L Sharpe Ratio is 0.91, which is lower than the FEQD.L Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of IMV.L and FEQD.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IMV.L	FEQD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	1.53	-0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.56	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.51	+0.21

Drawdowns

IMV.L vs. FEQD.L - Drawdown Comparison

The maximum IMV.L drawdown since its inception was -24.48%, smaller than the maximum FEQD.L drawdown of -26.58%. Use the drawdown chart below to compare losses from any high point for IMV.L and FEQD.L.

Drawdown Indicators

	IMV.L	FEQD.L	Difference
Max Drawdown Largest peak-to-trough decline	-24.48%	-26.58%	+2.10%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	-9.64%	+1.14%
Max Drawdown (3Y) Largest decline over 3 years	-8.50%	-12.44%	+3.94%
Max Drawdown (5Y) Largest decline over 5 years	-17.42%	-23.06%	+5.64%
Max Drawdown (10Y) Largest decline over 10 years	-24.48%	—	—
Current Drawdown Current decline from peak	-4.62%	-1.62%	-3.00%
Average Drawdown Average peak-to-trough decline	-3.57%	-4.90%	+1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	2.89%	-0.06%

Volatility

IMV.L vs. FEQD.L - Volatility Comparison

The current volatility for iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) is 2.89%, while Fidelity Europe Quality Income UCITS ETF (FEQD.L) has a volatility of 3.32%. This indicates that IMV.L experiences smaller price fluctuations and is considered to be less risky than FEQD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMV.L	FEQD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	3.32%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	7.71%	10.39%	-2.68%
Volatility (1Y) Calculated over the trailing 1-year period	9.13%	12.68%	-3.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.97%	14.26%	-3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.31%	14.99%	-2.68%

IMV.L vs. FEQD.L - Expense Ratio Comparison

IMV.L has a 0.25% expense ratio, which is lower than FEQD.L's 0.30% expense ratio.

Dividends

IMV.L vs. FEQD.L - Dividend Comparison

Neither IMV.L nor FEQD.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IMV.L and FEQD.L in my portfolio?

IMV.L and FEQD.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IMV.L or FEQD.L?

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

Which ETF is cheaper, IMV.L or FEQD.L?

IMV.L is cheaper with a 0.25% expense ratio, compared with 0.30% for FEQD.L.

What is the main difference between IMV.L and FEQD.L?

IMV.L tracks MSCI Europe NR EUR, while FEQD.L tracks MSCI Europe High Div Yld NR EUR. They also come from different issuers: iShares and FIL Investment Management (Luxembourg) S.A., Irela. Their fees differ too: 0.25% for IMV.L and 0.30% for FEQD.L.