MEUG.L vs. MIVO.L

Last updated Jun 5, 2026

MEUG.L (Lyxor UCITS MSCI Europe D-EUR) and MIVO.L (Amundi MSCI Europe Minimum Volatility UCITS) are both Europe Equities funds from Amundi tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, MEUG.L returned 10.37%/yr vs 7.53%/yr for MIVO.L. A 0.53 correlation means they provide meaningful diversification when combined. MEUG.L charges 0.25%/yr vs 0.13%/yr for MIVO.L.

Performance

MEUG.L vs. MIVO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor UCITS MSCI Europe D-EUR (MEUG.L) and Amundi MSCI Europe Minimum Volatility UCITS (MIVO.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MEUG.L achieves a 6.45% return, which is significantly higher than MIVO.L's 4.24% return. Over the past 10 years, MEUG.L has outperformed MIVO.L with an annualized return of 10.37%, while MIVO.L has yielded a comparatively lower 7.53% annualized return.

MEUG.L

• 1D: 0.49%
• 1M: 3.47%
• YTD: 6.45%
• 6M: 8.77%
• 1Y: 19.14%
• 3Y*: 13.58%
• 5Y*: 9.94%
• 10Y*: 10.37%

MIVO.L

• 1D: 0.44%
• 1M: 0.62%
• YTD: 4.24%
• 6M: 5.52%
• 1Y: 7.85%
• 3Y*: 10.28%
• 5Y*: 7.34%
• 10Y*: 7.53%

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

MEUG.L vs. MIVO.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MEUG.L Lyxor UCITS MSCI Europe D-EUR	6.45%	26.01%	3.67%	12.42%	-3.12%	15.71%	2.31%	20.16%	-9.59%	15.90%
MIVO.L Amundi MSCI Europe Minimum Volatility UCITS	4.24%	17.54%	6.50%	8.50%	-7.95%	13.43%	1.38%	16.36%	-3.04%	13.15%

Correlation

The correlation between MEUG.L and MIVO.L is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Apr 29, 2015	0.53

The correlation between MEUG.L and MIVO.L shifts across timeframes, from 0.45 (5 years) to 0.70 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MEUG.L vs. MIVO.L — Risk / Return Rank

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

MEUG.L

MEUG.L Risk / Return Rank: 44
MEUG.L Sharpe Ratio Rank: 47
MEUG.L Sortino Ratio Rank: 46
MEUG.L Omega Ratio Rank: 50
MEUG.L Calmar Ratio Rank: 37
MEUG.L Martin Ratio Rank: 41

MIVO.L

MIVO.L Risk / Return Rank: 23
MIVO.L Sharpe Ratio Rank: 25
MIVO.L Sortino Ratio Rank: 23
MIVO.L Omega Ratio Rank: 25
MIVO.L Calmar Ratio Rank: 21
MIVO.L Martin Ratio Rank: 22

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.

MEUG.L vs. MIVO.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor UCITS MSCI Europe D-EUR (MEUG.L) and Amundi MSCI Europe Minimum Volatility UCITS (MIVO.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.

	MEUG.L	MIVO.L	Difference
Sharpe ratio: Return per unit of total volatility	1.61	0.88	+0.73
Sortino ratio: Return per unit of downside risk	2.27	1.22	+1.05
Omega ratio: Gain probability vs. loss probability	1.31	1.16	+0.14
Calmar ratio: Return relative to maximum drawdown	1.82	0.93	+0.89
Martin ratio: Return relative to average drawdown	6.45	2.76	+3.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MEUG.L vs. MIVO.L - Sharpe Ratio Comparison

The current MEUG.L Sharpe Ratio is 1.61, which is higher than the MIVO.L Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of MEUG.L and MIVO.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

	MEUG.L	MIVO.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	0.88	+0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	0.67	+0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.95	0.62	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.74	+0.07

Drawdowns

MEUG.L vs. MIVO.L - Drawdown Comparison

The maximum MEUG.L drawdown since its inception was -28.58%, which is greater than MIVO.L's maximum drawdown of -24.30%. Use the drawdown chart below to compare losses from any high point for MEUG.L and MIVO.L.

Drawdown Indicators

	MEUG.L	MIVO.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.58%	-24.30%	-4.28%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-8.38%	-2.09%
Max Drawdown (3Y) Largest decline over 3 years	-12.69%	-8.38%	-4.31%
Max Drawdown (5Y) Largest decline over 5 years	-15.18%	-17.54%	+2.36%
Max Drawdown (10Y) Largest decline over 10 years	-28.58%	-24.30%	-4.28%
Current Drawdown Current decline from peak	-1.41%	-4.95%	+3.54%
Average Drawdown Average peak-to-trough decline	-4.37%	-3.61%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	2.84%	+0.12%

Volatility

MEUG.L vs. MIVO.L - Volatility Comparison

Lyxor UCITS MSCI Europe D-EUR (MEUG.L) has a higher volatility of 3.82% compared to Amundi MSCI Europe Minimum Volatility UCITS (MIVO.L) at 2.77%. This indicates that MEUG.L's price experiences larger fluctuations and is considered to be riskier than MIVO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEUG.L	MIVO.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	2.77%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	9.93%	7.44%	+2.49%
Volatility (1Y) Calculated over the trailing 1-year period	11.84%	8.91%	+2.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.14%	10.94%	+8.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.39%	12.25%	+7.14%

MEUG.L vs. MIVO.L - Expense Ratio Comparison

MEUG.L has a 0.25% expense ratio, which is higher than MIVO.L's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MEUG.L vs. MIVO.L - Dividend Comparison

Neither MEUG.L nor MIVO.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MEUG.L Lyxor UCITS MSCI Europe D-EUR	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.70%	3.42%	3.73%	3.07%	3.39%	3.60%
MIVO.L Amundi MSCI Europe Minimum Volatility UCITS	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MEUG.L and MIVO.L in my portfolio?

MEUG.L and MIVO.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MEUG.L or MIVO.L?

On fees, MIVO.L is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MEUG.L or MIVO.L?

MIVO.L is cheaper with a 0.13% expense ratio, compared with 0.25% for MEUG.L.

What is the main difference between MEUG.L and MIVO.L?

Both ETFs track MSCI Europe NR EUR. Their fees differ too: 0.25% for MEUG.L and 0.13% for MIVO.L.