LGEU.L vs. IEVL.L
LGEU.L (L&G Europe ex UK Equity UCITS ETF) and IEVL.L (iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating) are both Europe Equities funds - LGEU.L tracks the L&G Europe ex UK Equity UCITS ETF while IEVL.L tracks the MSCI Europe Enhanced Value Index. Both are passively managed. Over the past 5 years, LGEU.L returned 9.66%/yr vs 15.56%/yr for IEVL.L. Their correlation of 0.86 suggests significant overlap in exposure. LGEU.L charges 0.10%/yr vs 0.25%/yr for IEVL.L.
Performance
LGEU.L vs. IEVL.L - Performance Comparison
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Returns By Period
In the year-to-date period, LGEU.L achieves a 10.65% return, which is significantly lower than IEVL.L's 16.34% return.
LGEU.L
- 1D
- -0.63%
- 1M
- 0.36%
- 6M
- 6.63%
- YTD
- 10.65%
- 1Y
- 20.38%
- 3Y*
- 14.31%
- 5Y*
- 9.66%
- 10Y*
- —
IEVL.L
- 1D
- -0.07%
- 1M
- 1.17%
- 6M
- 13.20%
- YTD
- 16.34%
- 1Y
- 34.34%
- 3Y*
- 21.76%
- 5Y*
- 15.56%
- 10Y*
- 11.11%
LGEU.L vs. IEVL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LGEU.L L&G Europe ex UK Equity UCITS ETF | 10.65% | 19.94% | 6.68% | 17.97% | -11.77% | 24.90% | 1.53% | 30.71% | -9.44% |
IEVL.L iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating | 16.34% | 35.04% | 10.57% | 13.52% | -3.79% | 26.68% | -8.75% | 21.79% | -9.30% |
Correlation
The correlation between LGEU.L and IEVL.L is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.86 |
The correlation between LGEU.L and IEVL.L has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.
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Return for Risk
LGEU.L vs. IEVL.L — Risk / Return Rank
LGEU.L
IEVL.L
LGEU.L vs. IEVL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Europe ex UK Equity UCITS ETF (LGEU.L) and iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.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.
| LGEU.L | IEVL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.44 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 3.49 | -1.35 |
| Martin ratioReturn relative to average drawdown | 8.15 | 13.14 | -5.00 |
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Drawdowns
LGEU.L vs. IEVL.L - Drawdown Comparison
The maximum LGEU.L drawdown since its inception was -34.27%, smaller than the maximum IEVL.L drawdown of -40.09%. Use the drawdown chart below to compare losses from any high point for LGEU.L and IEVL.L.
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Drawdown Indicators
| LGEU.L | IEVL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.27% | -40.09% | +5.82% |
Max Drawdown (1Y)Largest decline over 1 year | -9.92% | -9.79% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -16.41% | -17.43% | +1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -22.68% | -19.55% | -3.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.09% | — |
Current DrawdownCurrent decline from peak | -2.52% | -1.07% | -1.45% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -7.43% | +2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 2.61% | -0.01% |
Volatility
LGEU.L vs. IEVL.L - Volatility Comparison
The current volatility for L&G Europe ex UK Equity UCITS ETF (LGEU.L) is 3.68%, while iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.L) has a volatility of 4.24%. This indicates that LGEU.L experiences smaller price fluctuations and is considered to be less risky than IEVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LGEU.L | IEVL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 4.24% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 11.29% | 11.83% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.72% | 14.14% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.08% | 15.37% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 17.28% | -0.29% |
LGEU.L vs. IEVL.L - Expense Ratio Comparison
LGEU.L has a 0.10% expense ratio, which is lower than IEVL.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
LGEU.L vs. IEVL.L - Dividend Comparison
Neither LGEU.L nor IEVL.L has paid dividends to shareholders.
Frequently Asked Questions
LGEU.L and IEVL.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LGEU.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGEU.L is cheaper with a 0.10% expense ratio, compared with 0.25% for IEVL.L.
LGEU.L tracks L&G Europe ex UK Equity UCITS ETF, while IEVL.L tracks MSCI Europe Enhanced Value Index. They also come from different issuers: L&G and iShares. Their fees differ too: 0.10% for LGEU.L and 0.25% for IEVL.L.
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