IMV.L vs. MVEU.L

Last updated Jun 25, 2026

IMV.L (iShares Edge MSCI Europe Min Volatility UCITS) and MVEU.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)) are both Europe Equities funds from iShares tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, IMV.L returned 7.94%/yr vs 7.98%/yr for MVEU.L. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

IMV.L vs. MVEU.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 iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with IMV.L having a 5.80% return and MVEU.L slightly higher at 5.99%. Both investments have delivered pretty close results over the past 10 years, with IMV.L having a 7.94% annualized return and MVEU.L not far ahead at 7.98%.

IMV.L

• 1D: 0.44%
• 1M: 0.05%
• YTD: 5.80%
• 6M: 5.96%
• 1Y: 10.53%
• 3Y*: 11.63%
• 5Y*: 7.18%
• 10Y*: 7.94%

MVEU.L

• 1D: 0.50%
• 1M: -0.08%
• YTD: 5.99%
• 6M: 6.28%
• 1Y: 10.48%
• 3Y*: 11.60%
• 5Y*: 7.13%
• 10Y*: 7.98%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMV.L iShares Edge MSCI Europe Min Volatility UCITS	5.80%	17.66%	6.63%	8.56%	-7.83%	13.68%	1.50%	16.37%	-2.91%	13.29%
MVEU.L iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)	5.99%	17.63%	6.71%	8.45%	-8.16%	14.46%	1.57%	15.47%	-2.87%	14.16%

Correlation

The correlation between IMV.L and MVEU.L is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Nov 30, 2012	0.92

The correlation between IMV.L and MVEU.L has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

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

Sectors	IMV.L	MVEU.L
Financial Services	17.9%	17.6%
Industrials	16.2%	15.6%
Consumer Defensive	13.8%	14.1%
Healthcare	12.6%	12.3%
Utilities	10.2%	10.1%
Communication Services	8.8%	9.0%
Energy	7.1%	6.9%
Basic Materials	5.2%	5.1%
Technology	3.5%	3.4%
Consumer Cyclical	3.4%	3.6%
Real Estate	1.6%	1.5%

Return for Risk

IMV.L vs. MVEU.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: 32
IMV.L Sharpe Ratio Rank: 35
IMV.L Sortino Ratio Rank: 33
IMV.L Omega Ratio Rank: 36
IMV.L Calmar Ratio Rank: 28
IMV.L Martin Ratio Rank: 28

MVEU.L

MVEU.L Risk / Return Rank: 31
MVEU.L Sharpe Ratio Rank: 33
MVEU.L Sortino Ratio Rank: 31
MVEU.L Omega Ratio Rank: 31
MVEU.L Calmar Ratio Rank: 30
MVEU.L Martin Ratio Rank: 32

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. MVEU.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 iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.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.

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.

	IMV.L	MVEU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.15	1.17	-0.02
Sortino ratio: Return per unit of downside risk	1.60	1.63	-0.03
Omega ratio: Gain probability vs. loss probability	1.22	1.21	+0.01
Calmar ratio: Return relative to maximum drawdown	1.23	1.25	-0.02
Martin ratio: Return relative to average drawdown	3.55	3.71	-0.17

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

The current IMV.L Sharpe Ratio is 1.15, which is comparable to the MVEU.L Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of IMV.L and MVEU.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.

Drawdowns

IMV.L vs. MVEU.L - Drawdown Comparison

The maximum IMV.L drawdown since its inception was -24.48%, roughly equal to the maximum MVEU.L drawdown of -23.74%. Use the drawdown chart below to compare losses from any high point for IMV.L and MVEU.L.

Drawdown Indicators

	IMV.L	MVEU.L	Difference
Max Drawdown Largest peak-to-trough decline	-24.48%	-23.74%	-0.74%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	-8.32%	-0.18%
Max Drawdown (3Y) Largest decline over 3 years	-8.50%	-8.32%	-0.18%
Max Drawdown (5Y) Largest decline over 5 years	-17.42%	-17.42%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-24.48%	-23.74%	-0.74%
Current Drawdown Current decline from peak	-3.63%	-3.45%	-0.18%
Average Drawdown Average peak-to-trough decline	-4.02%	-3.52%	-0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	2.82%	+0.14%

Volatility

IMV.L vs. MVEU.L - Volatility Comparison

The current volatility for iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) is 1.63%, while iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L) has a volatility of 1.88%. This indicates that IMV.L experiences smaller price fluctuations and is considered to be less risky than MVEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMV.L	MVEU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	1.88%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	7.59%	7.31%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	9.09%	8.92%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.95%	11.28%	-0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.28%	12.62%	-0.34%

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

Both IMV.L and MVEU.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IMV.L vs. MVEU.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.93, IMV.L and MVEU.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

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

IMV.L and MVEU.L have the same expense ratio: 0.25% per year.

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

Both ETFs track MSCI Europe NR EUR.