IPXE.L vs. IMIB.L
IPXE.L (First Trust IPOX Europe Equity Opportunities UCITS ETF EUR (Acc)) and IMIB.L (iShares FTSE MIB UCITS ETF EUR (Dist)) are both Europe Equities funds - IPXE.L tracks the IPOX 100 Europe Index while IMIB.L tracks the FTSE Italia AllShare TR EUR. Both are passively managed. Over the past 5 years, IPXE.L returned 3.21%/yr vs 20.51%/yr for IMIB.L. A 0.73 correlation means they provide meaningful diversification when combined. IPXE.L charges 0.65%/yr vs 0.35%/yr for IMIB.L.
Performance
IPXE.L vs. IMIB.L - Performance Comparison
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Different Trading Currencies
IPXE.L is traded in USD, while IMIB.L is traded in GBp. To make them comparable, the IMIB.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IPXE.L achieves a 6.02% return, which is significantly lower than IMIB.L's 15.75% return.
IPXE.L
- 1D
- -1.30%
- 1M
- -9.42%
- 6M
- 4.81%
- YTD
- 6.02%
- 1Y
- 5.24%
- 3Y*
- 15.54%
- 5Y*
- 3.21%
- 10Y*
- —
IMIB.L
- 1D
- -0.63%
- 1M
- -1.45%
- 6M
- 14.73%
- YTD
- 15.75%
- 1Y
- 32.98%
- 3Y*
- 28.30%
- 5Y*
- 20.51%
- 10Y*
- 15.86%
IPXE.L vs. IMIB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IPXE.L First Trust IPOX Europe Equity Opportunities UCITS ETF EUR (Acc) | 6.02% | 23.15% | 15.84% | 14.82% | -34.82% | 25.55% |
IMIB.L iShares FTSE MIB UCITS ETF EUR (Dist) | 15.75% | 54.63% | 11.28% | 37.43% | -13.90% | 3.95% |
Correlation
The correlation between IPXE.L and IMIB.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2021 | 0.73 |
The correlation between IPXE.L and IMIB.L has been stable across timeframes, ranging from 0.69 to 0.73 - a consistent structural relationship.
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Return for Risk
IPXE.L vs. IMIB.L — Risk / Return Rank
IPXE.L
IMIB.L
IPXE.L vs. IMIB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust IPOX Europe Equity Opportunities UCITS ETF EUR (Acc) (IPXE.L) and iShares FTSE MIB UCITS ETF EUR (Dist) (IMIB.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.
| IPXE.L | IMIB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.61 | ||
| Sortino ratioReturn per unit of downside risk | -2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.34 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 2.93 | -2.38 |
| Martin ratioReturn relative to average drawdown | 1.47 | 10.20 | -8.73 |
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Drawdowns
IPXE.L vs. IMIB.L - Drawdown Comparison
The maximum IPXE.L drawdown since its inception was -49.41%, smaller than the maximum IMIB.L drawdown of -77.82%. Use the drawdown chart below to compare losses from any high point for IPXE.L and IMIB.L.
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Drawdown Indicators
| IPXE.L | IMIB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.41% | -77.82% | +28.41% |
Max Drawdown (1Y)Largest decline over 1 year | -10.85% | -11.22% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -19.60% | -17.45% | -2.15% |
Max Drawdown (5Y)Largest decline over 5 years | -49.41% | -35.64% | -13.77% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.41% | — |
Current DrawdownCurrent decline from peak | -9.42% | -2.20% | -7.22% |
Average DrawdownAverage peak-to-trough decline | -19.91% | -49.23% | +29.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.05% | 3.22% | +0.83% |
Volatility
IPXE.L vs. IMIB.L - Volatility Comparison
First Trust IPOX Europe Equity Opportunities UCITS ETF EUR (Acc) (IPXE.L) has a higher volatility of 6.01% compared to iShares FTSE MIB UCITS ETF EUR (Dist) (IMIB.L) at 4.17%. This indicates that IPXE.L's price experiences larger fluctuations and is considered to be riskier than IMIB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPXE.L | IMIB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.01% | 4.17% | +1.84% |
Volatility (6M)Calculated over the trailing 6-month period | 17.51% | 14.31% | +3.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.78% | 17.14% | +2.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.54% | 21.14% | +1.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.30% | 21.37% | +2.93% |
IPXE.L vs. IMIB.L - Expense Ratio Comparison
IPXE.L has a 0.65% expense ratio, which is higher than IMIB.L's 0.35% expense ratio.
Dividends
IPXE.L vs. IMIB.L - Dividend Comparison
IPXE.L has not paid dividends to shareholders, while IMIB.L's dividend yield for the trailing twelve months is around 3.78%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMIB.L iShares FTSE MIB UCITS ETF EUR (Dist) | 3.78% | 3.83% | 4.53% | 3.77% | 3.90% | 3.15% | 1.44% | 3.41% | 0.00% | 0.61% | 2.82% | 2.15% |
IPXE.L First Trust IPOX Europe Equity Opportunities UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IPXE.L and IMIB.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IMIB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IMIB.L is cheaper with a 0.35% expense ratio, compared with 0.65% for IPXE.L.
IPXE.L tracks IPOX 100 Europe Index, while IMIB.L tracks FTSE Italia AllShare TR EUR. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.65% for IPXE.L and 0.35% for IMIB.L.
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