L6EW.L vs. IMV.L

Last updated Jun 4, 2026

L6EW.L (Ossiam Stoxx Europe 600 Equal Weight NR UCITS) and IMV.L (iShares Edge MSCI Europe Min Volatility UCITS) are both Europe Equities funds tracking the MSCI Europe NR EUR, from Natixis and iShares respectively. Both are passively managed. Over the past 10 years, L6EW.L returned 8.45%/yr vs 7.71%/yr for IMV.L. Their correlation of 0.82 suggests significant overlap in exposure. L6EW.L charges 0.35%/yr vs 0.25%/yr for IMV.L.

Performance

L6EW.L vs. IMV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Ossiam Stoxx Europe 600 Equal Weight NR UCITS (L6EW.L) and iShares Edge MSCI Europe Min Volatility UCITS (IMV.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with L6EW.L having a 4.12% return and IMV.L slightly higher at 4.20%. Over the past 10 years, L6EW.L has outperformed IMV.L with an annualized return of 8.45%, while IMV.L has yielded a comparatively lower 7.71% annualized return.

L6EW.L

• 1D: -0.69%
• 1M: 1.49%
• YTD: 4.12%
• 6M: 7.14%
• 1Y: 15.44%
• 3Y*: 11.10%
• 5Y*: 5.09%
• 10Y*: 8.45%

IMV.L

• 1D: -0.02%
• 1M: -0.32%
• YTD: 4.20%
• 6M: 5.34%
• 1Y: 8.27%
• 3Y*: 10.29%
• 5Y*: 7.43%
• 10Y*: 7.71%

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

L6EW.L vs. IMV.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
L6EW.L Ossiam Stoxx Europe 600 Equal Weight NR UCITS	4.12%	23.27%	-0.27%	12.61%	-13.76%	13.55%	7.30%	21.13%	-10.91%	18.91%
IMV.L iShares Edge MSCI Europe Min Volatility UCITS	4.20%	17.66%	6.63%	8.56%	-7.83%	13.68%	1.50%	16.37%	-2.91%	13.29%

Correlation

The correlation between L6EW.L and IMV.L is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 4, 2013	0.82

The correlation between L6EW.L and IMV.L shifts across timeframes, from 0.69 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.

L6EW.L vs. IMV.L - Sectors Allocation Comparison

Sectors	L6EW.L	IMV.L
Industrials	23.1%	15.4%
Financial Services	19.9%	17.9%
Consumer Cyclical	10.9%	3.6%
Healthcare	8.4%	13.0%
Consumer Defensive	7.7%	13.1%
Basic Materials	7.6%	5.6%
Real Estate	5.8%	1.6%
Communication Services	5.0%	9.6%
Technology	5.0%	2.8%
Utilities	5.0%	10.2%
Energy	1.5%	7.1%

Return for Risk

L6EW.L vs. IMV.L — Risk / Return Rank

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

L6EW.L

L6EW.L Risk / Return Rank: 33
L6EW.L Sharpe Ratio Rank: 35
L6EW.L Sortino Ratio Rank: 34
L6EW.L Omega Ratio Rank: 35
L6EW.L Calmar Ratio Rank: 28
L6EW.L Martin Ratio Rank: 33

IMV.L

IMV.L Risk / Return Rank: 24
IMV.L Sharpe Ratio Rank: 25
IMV.L Sortino Ratio Rank: 23
IMV.L Omega Ratio Rank: 25
IMV.L Calmar Ratio Rank: 21
IMV.L Martin Ratio Rank: 23

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.

L6EW.L vs. IMV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ossiam Stoxx Europe 600 Equal Weight NR UCITS (L6EW.L) and iShares Edge MSCI Europe Min Volatility UCITS (IMV.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.

	L6EW.L	IMV.L	Difference
Sharpe ratio: Return per unit of total volatility	1.25	0.90	+0.34
Sortino ratio: Return per unit of downside risk	1.77	1.27	+0.50
Omega ratio: Gain probability vs. loss probability	1.23	1.17	+0.06
Calmar ratio: Return relative to maximum drawdown	1.35	0.97	+0.38
Martin ratio: Return relative to average drawdown	4.80	2.93	+1.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

L6EW.L vs. IMV.L - Sharpe Ratio Comparison

The current L6EW.L Sharpe Ratio is 1.25, which is higher than the IMV.L Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of L6EW.L and IMV.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

	L6EW.L	IMV.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	0.90	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.68	-0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.63	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.71	-0.11

Drawdowns

L6EW.L vs. IMV.L - Drawdown Comparison

The maximum L6EW.L drawdown since its inception was -30.88%, which is greater than IMV.L's maximum drawdown of -24.48%. Use the drawdown chart below to compare losses from any high point for L6EW.L and IMV.L.

Drawdown Indicators

	L6EW.L	IMV.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.88%	-24.48%	-6.40%
Max Drawdown (1Y) Largest decline over 1 year	-11.43%	-8.50%	-2.93%
Max Drawdown (3Y) Largest decline over 3 years	-12.28%	-8.50%	-3.78%
Max Drawdown (5Y) Largest decline over 5 years	-26.62%	-17.42%	-9.20%
Max Drawdown (10Y) Largest decline over 10 years	-30.88%	-24.48%	-6.40%
Current Drawdown Current decline from peak	-2.45%	-5.10%	+2.65%
Average Drawdown Average peak-to-trough decline	-5.51%	-3.57%	-1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	2.82%	+0.39%

Volatility

L6EW.L vs. IMV.L - Volatility Comparison

Ossiam Stoxx Europe 600 Equal Weight NR UCITS (L6EW.L) has a higher volatility of 4.03% compared to iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) at 3.04%. This indicates that L6EW.L's price experiences larger fluctuations and is considered to be riskier than IMV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	L6EW.L	IMV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.03%	3.04%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	10.32%	7.69%	+2.63%
Volatility (1Y) Calculated over the trailing 1-year period	12.35%	9.14%	+3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.24%	10.97%	+4.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.61%	12.31%	+3.30%

L6EW.L vs. IMV.L - Expense Ratio Comparison

L6EW.L has a 0.35% expense ratio, which is higher than IMV.L's 0.25% expense ratio.

Dividends

L6EW.L vs. IMV.L - Dividend Comparison

Neither L6EW.L nor IMV.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both L6EW.L and IMV.L in my portfolio?

L6EW.L and IMV.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, L6EW.L or IMV.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, L6EW.L or IMV.L?

IMV.L is cheaper with a 0.25% expense ratio, compared with 0.35% for L6EW.L.

What is the main difference between L6EW.L and IMV.L?

Both ETFs track MSCI Europe NR EUR. They also come from different issuers: Natixis and iShares. Their fees differ too: 0.35% for L6EW.L and 0.25% for IMV.L.