IUSE.L vs. MVOL.L

Last updated Jul 18, 2026

IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) and MVOL.L (iShares Edge MSCI World Minimum Volatility UCITS) are both exchange-traded funds - IUSE.L is a S&P 500 fund tracking the S&P 500 EUR Hedged Index, while MVOL.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, IUSE.L returned 12.04%/yr vs 6.43%/yr for MVOL.L. A 0.57 correlation means they provide meaningful diversification when combined. IUSE.L charges 0.20%/yr vs 0.35%/yr for MVOL.L.

Performance

IUSE.L vs. MVOL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and iShares Edge MSCI World Minimum Volatility UCITS (MVOL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IUSE.L is traded in EUR, while MVOL.L is traded in USD. To make them comparable, the MVOL.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IUSE.L achieves a 7.54% return, which is significantly higher than MVOL.L's 5.36% return. Over the past 10 years, IUSE.L has outperformed MVOL.L with an annualized return of 12.04%, while MVOL.L has yielded a comparatively lower 6.43% annualized return.

IUSE.L

• 1D: -1.30%
• 1M: -0.21%
• 6M: 6.68%
• YTD: 7.54%
• 1Y: 17.02%
• 3Y*: 16.87%
• 5Y*: 10.14%
• 10Y*: 12.04%

MVOL.L

• 1D: 0.69%
• 1M: 2.55%
• 6M: 4.32%
• YTD: 5.36%
• 1Y: 6.10%
• 3Y*: 8.50%
• 5Y*: 5.77%
• 10Y*: 6.43%

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

IUSE.L vs. MVOL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUSE.L iShares S&P 500 EUR Hedged UCITS ETF Acc	7.54%	14.95%	23.21%	23.05%	-21.17%	27.85%	14.81%	26.33%	-8.40%	19.04%
MVOL.L iShares Edge MSCI World Minimum Volatility UCITS	5.36%	-2.16%	18.41%	4.07%	-4.02%	23.22%	-5.89%	25.33%	2.18%	2.96%

Correlation

The correlation between IUSE.L and MVOL.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.56
Correlation (All Time) Calculated using the full available price history since Nov 30, 2012	0.57

Over the past year, the correlation between IUSE.L and MVOL.L has dropped to 0.12 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

IUSE.L vs. MVOL.L - Sectors Allocation Comparison

Sectors	IUSE.L	MVOL.L
Technology	39.1%	24.0%
Financial Services	11.1%	13.1%
Communication Services	10.6%	11.4%
Consumer Cyclical	9.9%	5.2%
Healthcare	8.3%	13.8%
Industrials	7.8%	8.9%
Consumer Defensive	4.5%	10.3%
Energy	3.1%	4.0%
Utilities	2.1%	7.4%
Real Estate	1.8%	1.1%
Basic Materials	1.7%	0.9%

Return for Risk

IUSE.L vs. MVOL.L — Risk / Return Rank

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

IUSE.L

IUSE.L Risk / Return Rank: 55
IUSE.L Sharpe Ratio Rank: 54
IUSE.L Sortino Ratio Rank: 58
IUSE.L Omega Ratio Rank: 52
IUSE.L Calmar Ratio Rank: 50
IUSE.L Martin Ratio Rank: 59

MVOL.L

MVOL.L Risk / Return Rank: 20
MVOL.L Sharpe Ratio Rank: 21
MVOL.L Sortino Ratio Rank: 19
MVOL.L Omega Ratio Rank: 19
MVOL.L Calmar Ratio Rank: 22
MVOL.L Martin Ratio Rank: 20

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.

IUSE.L vs. MVOL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and iShares Edge MSCI World Minimum Volatility UCITS (MVOL.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.

	IUSE.L	MVOL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.42	0.69	+0.73
Sortino ratio: Return per unit of downside risk	2.14	1.00	+1.14
Omega ratio: Gain probability vs. loss probability	1.26	1.12	+0.14
Calmar ratio: Return relative to maximum drawdown	1.98	1.16	+0.82
Martin ratio: Return relative to average drawdown	7.93	2.83	+5.10

IUSE.L vs. MVOL.L - Sharpe Ratio Comparison

The current IUSE.L Sharpe Ratio is 1.42, which is higher than the MVOL.L Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of IUSE.L and MVOL.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

IUSE.L vs. MVOL.L - Drawdown Comparison

The maximum IUSE.L drawdown since its inception was -34.75%, which is greater than MVOL.L's maximum drawdown of -28.24%. Use the drawdown chart below to compare losses from any high point for IUSE.L and MVOL.L.

Drawdown Indicators

	IUSE.L	MVOL.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.75%	-28.24%	-6.51%
Max Drawdown (1Y) Largest decline over 1 year	-8.67%	-5.24%	-3.43%
Max Drawdown (3Y) Largest decline over 3 years	-18.33%	-11.81%	-6.52%
Max Drawdown (5Y) Largest decline over 5 years	-26.23%	-12.55%	-13.68%
Max Drawdown (10Y) Largest decline over 10 years	-34.75%	-28.24%	-6.51%
Current Drawdown Current decline from peak	-1.97%	-3.38%	+1.41%
Average Drawdown Average peak-to-trough decline	-4.25%	-4.59%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.15%	+0.01%

Volatility

IUSE.L vs. MVOL.L - Volatility Comparison

iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) has a higher volatility of 3.05% compared to iShares Edge MSCI World Minimum Volatility UCITS (MVOL.L) at 2.85%. This indicates that IUSE.L's price experiences larger fluctuations and is considered to be riskier than MVOL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUSE.L	MVOL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	2.85%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	9.34%	6.90%	+2.44%
Volatility (1Y) Calculated over the trailing 1-year period	12.08%	8.87%	+3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.07%	10.75%	+5.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.29%	12.14%	+4.15%

IUSE.L vs. MVOL.L - Expense Ratio Comparison

IUSE.L has a 0.20% expense ratio, which is lower than MVOL.L's 0.35% expense ratio.

Dividends

IUSE.L vs. MVOL.L - Dividend Comparison

Neither IUSE.L nor MVOL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IUSE.L and MVOL.L in my portfolio?

IUSE.L and MVOL.L have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IUSE.L or MVOL.L?

On fees, IUSE.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IUSE.L or MVOL.L?

IUSE.L is cheaper with a 0.20% expense ratio, compared with 0.35% for MVOL.L.

What is the main difference between IUSE.L and MVOL.L?

IUSE.L is categorized as S&P 500, while MVOL.L is Global Equities. IUSE.L tracks S&P 500 EUR Hedged Index, while MVOL.L tracks MSCI ACWI NR USD. Their fees differ too: 0.20% for IUSE.L and 0.35% for MVOL.L.