MFEX.L vs. IEFM.L

Last updated Apr 2, 2026

Compare and contrast key facts about Lyxor UCITS MSCI EMU (MFEX.L) and iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L).

MFEX.L and IEFM.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MFEX.L is a passively managed fund by Amundi that tracks the performance of the MSCI EMU NR EUR. It was launched on Dec 7, 2017. IEFM.L is a passively managed fund by iShares that tracks the performance of the MSCI Europe Growth NR EUR. It was launched on Jan 16, 2015. Both MFEX.L and IEFM.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

MFEX.L vs. IEFM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor UCITS MSCI EMU (MFEX.L) and iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L). The values are adjusted to include any dividend payments, if applicable.

MFEX.L vs. IEFM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MFEX.L Lyxor UCITS MSCI EMU	0.24%	30.65%	4.68%	16.31%	525.11%	113.18%	71.48%	19.15%	-13.18%
IEFM.L iShares Edge MSCI Europe Momentum Factor UCITS ETF	1.86%	33.05%	15.03%	10.37%	-9.80%	14.07%	17.04%	23.39%	-13.67%

Different Trading Currencies

MFEX.L is traded in GBP, while IEFM.L is traded in GBp. To make them comparable, the IEFM.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, MFEX.L achieves a 0.24% return, which is significantly lower than IEFM.L's 1.86% return.

MFEX.L

• 1D: 2.74%
• 1M: -4.06%
• YTD: 0.24%
• 6M: 4.50%
• 1Y: 19.28%
• 3Y*: 12.98%
• 5Y*: 82.91%
• 10Y*: —

IEFM.L

• 1D: 4.16%
• 1M: -3.84%
• YTD: 1.86%
• 6M: 6.62%
• 1Y: 23.49%
• 3Y*: 18.22%
• 5Y*: 11.75%
• 10Y*: 12.08%

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

MFEX.L vs. IEFM.L - Expense Ratio Comparison

MFEX.L has a 0.12% expense ratio, which is lower than IEFM.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%.

IEFM.L

iShares Edge MSCI Europe Momentum Factor UCITS ETF

MFEX.L

Lyxor UCITS MSCI EMU

Return for Risk

MFEX.L vs. IEFM.L — Risk / Return Rank

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

MFEX.L

MFEX.L Risk / Return Rank: 65
MFEX.L Sharpe Ratio Rank: 69
MFEX.L Sortino Ratio Rank: 65
MFEX.L Omega Ratio Rank: 63
MFEX.L Calmar Ratio Rank: 64
MFEX.L Martin Ratio Rank: 62

IEFM.L

IEFM.L Risk / Return Rank: 54
IEFM.L Sharpe Ratio Rank: 47
IEFM.L Sortino Ratio Rank: 51
IEFM.L Omega Ratio Rank: 66
IEFM.L Calmar Ratio Rank: 63
IEFM.L Martin Ratio Rank: 42

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.

MFEX.L vs. IEFM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor UCITS MSCI EMU (MFEX.L) and iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.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.

	MFEX.L	IEFM.L	Difference
Sharpe ratio Return per unit of total volatility	1.27	0.91	+0.37
Sortino ratio Return per unit of downside risk	1.73	1.42	+0.31
Omega ratio Gain probability vs. loss probability	1.25	1.25	-0.01
Calmar ratio Return relative to maximum drawdown	1.79	1.70	+0.09
Martin ratio Return relative to average drawdown	6.65	4.19	+2.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MFEX.L vs. IEFM.L - Sharpe Ratio Comparison

The current MFEX.L Sharpe Ratio is 1.27, which is higher than the IEFM.L Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of MFEX.L and IEFM.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MFEX.L	IEFM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	0.91	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.66	-0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.66	-0.37

Correlation

The correlation between MFEX.L and IEFM.L is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MFEX.L vs. IEFM.L - Dividend Comparison

MFEX.L's dividend yield for the trailing twelve months is around 3.26%, while IEFM.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MFEX.L Lyxor UCITS MSCI EMU	3.26%	3.27%	2.82%	2.56%	87.78%	48.73%	40.59%	3.30%	0.44%
IEFM.L iShares Edge MSCI Europe Momentum Factor UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

MFEX.L vs. IEFM.L - Drawdown Comparison

The maximum MFEX.L drawdown since its inception was -31.42%, which is greater than IEFM.L's maximum drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for MFEX.L and IEFM.L.

Drawdown Indicators

	MFEX.L	IEFM.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.42%	-23.88%	-7.54%
Max Drawdown (1Y) Largest decline over 1 year	-10.99%	-14.04%	+3.05%
Max Drawdown (5Y) Largest decline over 5 years	-20.63%	-21.33%	+0.70%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.88%	—
Current Drawdown Current decline from peak	-6.69%	-6.40%	-0.29%
Average Drawdown Average peak-to-trough decline	-5.18%	-5.26%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	5.69%	-2.74%

Volatility

MFEX.L vs. IEFM.L - Volatility Comparison

The current volatility for Lyxor UCITS MSCI EMU (MFEX.L) is 6.28%, while iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) has a volatility of 8.56%. This indicates that MFEX.L experiences smaller price fluctuations and is considered to be less risky than IEFM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFEX.L	IEFM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.28%	8.56%	-2.28%
Volatility (6M) Calculated over the trailing 6-month period	10.50%	22.92%	-12.42%
Volatility (1Y) Calculated over the trailing 1-year period	15.10%	25.75%	-10.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	257.71%	17.79%	+239.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	209.89%	16.90%	+192.99%