LEMV.L vs. IMV.L

Last updated Jun 4, 2026

LEMV.L (Ossiam Europe ESG Machine Learning ETF UCITS (EUR)) 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, LEMV.L returned 7.82%/yr vs 7.71%/yr for IMV.L. Their correlation of 0.90 suggests significant overlap in exposure. LEMV.L charges 0.45%/yr vs 0.25%/yr for IMV.L.

Performance

LEMV.L vs. IMV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Ossiam Europe ESG Machine Learning ETF UCITS (EUR) (LEMV.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

In the year-to-date period, LEMV.L achieves a 3.75% return, which is significantly lower than IMV.L's 4.20% return. Both investments have delivered pretty close results over the past 10 years, with LEMV.L having a 7.82% annualized return and IMV.L not far behind at 7.71%.

LEMV.L

• 1D: -0.21%
• 1M: -1.62%
• YTD: 3.75%
• 6M: 5.46%
• 1Y: 6.56%
• 3Y*: 11.10%
• 5Y*: 6.86%
• 10Y*: 7.82%

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)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LEMV.L Ossiam Europe ESG Machine Learning ETF UCITS (EUR)	3.75%	17.91%	9.36%	4.61%	-9.18%	15.18%	6.43%	12.42%	-4.04%	16.10%
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 LEMV.L and IMV.L is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 4, 2013	0.90

The correlation between LEMV.L and IMV.L has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.

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

Sectors	LEMV.L	IMV.L
Utilities	20.2%	10.2%
Industrials	18.7%	15.4%
Financial Services	17.1%	17.9%
Communication Services	16.5%	9.6%
Real Estate	11.6%	1.6%
Technology	9.8%	2.8%
Energy	2.2%	7.1%
Consumer Cyclical	2.1%	3.6%
Healthcare	1.3%	13.0%
Consumer Defensive	1.1%	13.1%
Basic Materials	0.4%	5.6%

Return for Risk

LEMV.L vs. IMV.L — Risk / Return Rank

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

LEMV.L

LEMV.L Risk / Return Rank: 20
LEMV.L Sharpe Ratio Rank: 20
LEMV.L Sortino Ratio Rank: 19
LEMV.L Omega Ratio Rank: 20
LEMV.L Calmar Ratio Rank: 18
LEMV.L Martin Ratio Rank: 21

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.

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

This table presents a comparison of risk-adjusted performance metrics for Ossiam Europe ESG Machine Learning ETF UCITS (EUR) (LEMV.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.

	LEMV.L	IMV.L	Difference
Sharpe ratio: Return per unit of total volatility	0.64	0.90	-0.27
Sortino ratio: Return per unit of downside risk	0.92	1.27	-0.35
Omega ratio: Gain probability vs. loss probability	1.12	1.17	-0.05
Calmar ratio: Return relative to maximum drawdown	0.71	0.97	-0.26
Martin ratio: Return relative to average drawdown	2.43	2.93	-0.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current LEMV.L Sharpe Ratio is 0.64, which is comparable to the IMV.L Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of LEMV.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

	LEMV.L	IMV.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	0.90	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.68	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.63	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.71	-0.02

Drawdowns

LEMV.L vs. IMV.L - Drawdown Comparison

The maximum LEMV.L drawdown since its inception was -23.95%, roughly equal to the maximum IMV.L drawdown of -24.48%. Use the drawdown chart below to compare losses from any high point for LEMV.L and IMV.L.

Drawdown Indicators

	LEMV.L	IMV.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.95%	-24.48%	+0.53%
Max Drawdown (1Y) Largest decline over 1 year	-9.17%	-8.50%	-0.67%
Max Drawdown (3Y) Largest decline over 3 years	-9.93%	-8.50%	-1.43%
Max Drawdown (5Y) Largest decline over 5 years	-17.93%	-17.42%	-0.51%
Max Drawdown (10Y) Largest decline over 10 years	-23.95%	-24.48%	+0.53%
Current Drawdown Current decline from peak	-3.90%	-5.10%	+1.20%
Average Drawdown Average peak-to-trough decline	-3.95%	-3.57%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	2.82%	-0.13%

Volatility

LEMV.L vs. IMV.L - Volatility Comparison

The current volatility for Ossiam Europe ESG Machine Learning ETF UCITS (EUR) (LEMV.L) is 2.82%, while iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) has a volatility of 3.04%. This indicates that LEMV.L experiences smaller price fluctuations and is considered to be less risky than IMV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LEMV.L	IMV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	3.04%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	8.67%	7.69%	+0.98%
Volatility (1Y) Calculated over the trailing 1-year period	10.31%	9.14%	+1.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.80%	10.97%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.49%	12.31%	+0.18%

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

LEMV.L has a 0.45% expense ratio, which is higher than IMV.L's 0.25% expense ratio.

Dividends

LEMV.L vs. IMV.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

LEMV.L and IMV.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

IMV.L is cheaper with a 0.25% expense ratio, compared with 0.45% for LEMV.L.

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

Both ETFs track MSCI Europe NR EUR. They also come from different issuers: Natixis and iShares. Their fees differ too: 0.45% for LEMV.L and 0.25% for IMV.L.