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LEMV.L vs. MVED.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LEMV.L vs. MVED.L

Last updated Jun 4, 2026

LEMV.L (Ossiam Europe ESG Machine Learning ETF UCITS (EUR)) and MVED.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)) are both Europe Equities funds tracking the MSCI Europe NR EUR, from Natixis and BlackRock respectively. Both are passively managed. Over the past 5 years, LEMV.L returned 6.86%/yr vs 6.12%/yr for MVED.L. Their correlation of 0.85 suggests significant overlap in exposure. LEMV.L charges 0.45%/yr vs 0.25%/yr for MVED.L.

Performance

LEMV.L vs. MVED.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 Minimum Volatility UCITS ETF EUR (Dist) (MVED.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, LEMV.L achieves a 3.75% return, which is significantly higher than MVED.L's 3.44% return.

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%

MVED.L

1D
-0.18%
1M
-0.31%
YTD
3.44%
6M
4.45%
1Y
5.52%
3Y*
8.05%
5Y*
6.12%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
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%-1.76%
MVED.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)		3.44%14.60%3.94%8.51%-8.08%14.30%1.58%15.71%0.07%

Correlation

The correlation between LEMV.L and MVED.L is 0.80, 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

0.80

Correlation (3Y)
Calculated over the trailing 3-year period

0.81

Correlation (5Y)
Calculated over the trailing 5-year period

0.85

Correlation (All Time)
Calculated using the full available price history since Mar 1, 2018

0.85

The correlation between LEMV.L and MVED.L has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

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

Sectors
LEMV.L
MVED.L

Utilities

20.2%
10.1%

Industrials

18.7%
15.7%

Financial Services

17.1%
17.8%

Communication Services

16.5%
9.5%

Real Estate

11.6%
1.6%

Technology

9.8%
2.8%

Energy

2.2%
6.9%

Consumer Cyclical

2.1%
3.7%

Healthcare

1.3%
13.1%

Consumer Defensive

1.1%
13.2%

Basic Materials

0.4%
5.7%

Utilities

LEMV.L
20.2%
MVED.L
10.1%

Industrials

LEMV.L
18.7%
MVED.L
15.7%

Financial Services

LEMV.L
17.1%
MVED.L
17.8%

Communication Services

LEMV.L
16.5%
MVED.L
9.5%

Real Estate

LEMV.L
11.6%
MVED.L
1.6%

Technology

LEMV.L
9.8%
MVED.L
2.8%

Energy

LEMV.L
2.2%
MVED.L
6.9%

Consumer Cyclical

LEMV.L
2.1%
MVED.L
3.7%

Healthcare

LEMV.L
1.3%
MVED.L
13.1%

Consumer Defensive

LEMV.L
1.1%
MVED.L
13.2%

Basic Materials

LEMV.L
0.4%
MVED.L
5.7%

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Ossiam Europe ESG Machine Learning ETF UCITS (EUR)

iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)

Often compared with LEMV.L:
LEMV.L vs. 5HEP.LLEMV.L vs. EUMV.LLEMV.L vs. L6EW.LLEMV.L vs. CAPU.LLEMV.L vs. EDIV.LLEMV.L vs. LCPE.LLEMV.L vs. CS1.L
Often compared with MVED.L:
MVED.L vs. MIVO.LMVED.L vs. CSPX.LMVED.L vs. OPEN.LMVED.L vs. PRUK.LMVED.L vs. WDEP.LMVED.L vs. EDIV.LMVED.L vs. FKU.L

Return for Risk

LEMV.L vs. MVED.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: 2020
Overall Rank
LEMV.L Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
LEMV.L Sortino Ratio Rank: 1919
Sortino Ratio Rank
LEMV.L Omega Ratio Rank: 2020
Omega Ratio Rank
LEMV.L Calmar Ratio Rank: 1818
Calmar Ratio Rank
LEMV.L Martin Ratio Rank: 2121
Martin Ratio Rank
MVED.L
MVED.L Risk / Return Rank: 1313
Overall Rank
MVED.L Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
MVED.L Sortino Ratio Rank: 1212
Sortino Ratio Rank
MVED.L Omega Ratio Rank: 1212
Omega Ratio Rank
MVED.L Calmar Ratio Rank: 1313
Calmar Ratio Rank
MVED.L Martin Ratio Rank: 1313
Martin Ratio Rank
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. MVED.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 Minimum Volatility UCITS ETF EUR (Dist) (MVED.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.LMVED.LDifference
Sharpe ratioReturn per unit of total volatility
0.64
0.60

+0.03

Sortino ratioReturn per unit of downside risk
0.92
0.86

+0.06

Omega ratioGain probability vs. loss probability

1.12

1.11

+0.01

Calmar ratioReturn relative to maximum drawdown

0.71

0.66

+0.05

Martin ratioReturn relative to average drawdown

2.43

1.89

+0.55

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. MVED.L - Sharpe Ratio Comparison

The current LEMV.L Sharpe Ratio is 0.64, which is comparable to the MVED.L Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of LEMV.L and MVED.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.

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Sharpe Ratios by Period

LEMV.LMVED.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.64

0.60

+0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.58

0.54

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.69

0.48

+0.20

Drawdowns

LEMV.L vs. MVED.L - Drawdown Comparison

The maximum LEMV.L drawdown since its inception was -23.95%, roughly equal to the maximum MVED.L drawdown of -24.31%. Use the drawdown chart below to compare losses from any high point for LEMV.L and MVED.L.

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Drawdown Indicators

LEMV.LMVED.LDifference

Max Drawdown

Largest peak-to-trough decline

-23.95%

-24.31%

+0.36%

Max Drawdown (1Y)

Largest decline over 1 year

-9.17%

-8.28%

-0.89%

Max Drawdown (3Y)

Largest decline over 3 years

-9.93%

-8.28%

-1.65%

Max Drawdown (5Y)

Largest decline over 5 years

-17.93%

-17.36%

-0.57%

Max Drawdown (10Y)

Largest decline over 10 years

-23.95%

—

—

Current Drawdown

Current decline from peak

-3.90%

-5.72%

+1.82%

Average Drawdown

Average peak-to-trough decline

-3.95%

-4.10%

+0.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.69%

2.92%

-0.23%

Volatility

LEMV.L vs. MVED.L - Volatility Comparison

Ossiam Europe ESG Machine Learning ETF UCITS (EUR) (LEMV.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.L) have volatilities of 2.82% and 2.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

LEMV.LMVED.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.82%

2.96%

-0.14%

Volatility (6M)

Calculated over the trailing 6-month period

8.67%

7.64%

+1.03%

Volatility (1Y)

Calculated over the trailing 1-year period

10.31%

9.19%

+1.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.80%

11.28%

+0.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.49%

12.95%

-0.46%

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

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

Dividends

LEMV.L vs. MVED.L - Dividend Comparison

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

PositionTTM20252024202320222021202020192018
LEMV.L
Ossiam Europe ESG Machine Learning ETF UCITS (EUR)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
MVED.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)		0.00%0.00%0.00%2.67%2.95%2.16%2.54%2.81%2.50%

Frequently Asked Questions

LEMV.L and MVED.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, MVED.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

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

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