MIVO.L vs. FRXD.L

Last updated Jul 16, 2026

MIVO.L (Amundi MSCI Europe Minimum Volatility UCITS) and FRXD.L (Franklin European Quality Dividend UCITS ETF) are both Europe Equities funds - MIVO.L tracks the MSCI Europe NR EUR while FRXD.L tracks the Franklin European Quality Dividend UCITS ETF. Both are passively managed. Over the past 5 years, MIVO.L returned 6.92%/yr vs 12.15%/yr for FRXD.L. A 0.70 correlation means they provide meaningful diversification when combined. MIVO.L charges 0.13%/yr vs 0.25%/yr for FRXD.L.

Performance

MIVO.L vs. FRXD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi MSCI Europe Minimum Volatility UCITS (MIVO.L) and Franklin European Quality Dividend UCITS ETF (FRXD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, MIVO.L achieves a 5.86% return, which is significantly lower than FRXD.L's 8.97% return.

MIVO.L

• 1D: 0.15%
• 1M: 0.44%
• 6M: 4.78%
• YTD: 5.86%
• 1Y: 9.58%
• 3Y*: 11.62%
• 5Y*: 6.92%
• 10Y*: 5.08%

FRXD.L

• 1D: 0.00%
• 1M: -2.54%
• 6M: 8.87%
• YTD: 8.97%
• 1Y: 17.48%
• 3Y*: 19.46%
• 5Y*: 12.15%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIVO.L Amundi MSCI Europe Minimum Volatility UCITS	5.86%	17.54%	6.50%	8.50%	-7.95%	13.43%	1.38%	16.36%	-13.89%	1.94%
FRXD.L Franklin European Quality Dividend UCITS ETF	8.97%	30.65%	7.63%	8.12%	5.16%	10.32%	1.12%	17.41%	-8.42%	-3.16%

Correlation

The correlation between MIVO.L and FRXD.L is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Sep 8, 2017	0.70

The correlation between MIVO.L and FRXD.L has been stable across timeframes, ranging from 0.70 to 0.74 - a consistent structural relationship.

Return for Risk

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

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

MIVO.L

MIVO.L Risk / Return Rank: 28
MIVO.L Sharpe Ratio Rank: 31
MIVO.L Sortino Ratio Rank: 28
MIVO.L Omega Ratio Rank: 30
MIVO.L Calmar Ratio Rank: 25
MIVO.L Martin Ratio Rank: 26

FRXD.L

FRXD.L Risk / Return Rank: 86
FRXD.L Sharpe Ratio Rank: 85
FRXD.L Sortino Ratio Rank: 86
FRXD.L Omega Ratio Rank: 82
FRXD.L Calmar Ratio Rank: 94
FRXD.L Martin Ratio Rank: 85

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.

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

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Europe Minimum Volatility UCITS (MIVO.L) and Franklin European Quality Dividend UCITS ETF (FRXD.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.

	MIVO.L	FRXD.L	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.93	-0.98
Sortino ratio: Return per unit of downside risk	1.31	2.77	-1.45
Omega ratio: Gain probability vs. loss probability	1.17	1.34	-0.17
Calmar ratio: Return relative to maximum drawdown	1.03	4.77	-3.75
Martin ratio: Return relative to average drawdown	2.78	10.85	-8.07

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

The current MIVO.L Sharpe Ratio is 0.94, which is lower than the FRXD.L Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of MIVO.L and FRXD.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.

Drawdowns

MIVO.L vs. FRXD.L - Drawdown Comparison

The maximum MIVO.L drawdown since its inception was -24.30%, smaller than the maximum FRXD.L drawdown of -29.39%. Use the drawdown chart below to compare losses from any high point for MIVO.L and FRXD.L.

Drawdown Indicators

	MIVO.L	FRXD.L	Difference
Max Drawdown Largest peak-to-trough decline	-24.30%	-29.39%	+5.09%
Max Drawdown (1Y) Largest decline over 1 year	-8.39%	-3.59%	-4.80%
Max Drawdown (3Y) Largest decline over 3 years	-8.39%	-8.29%	-0.10%
Max Drawdown (5Y) Largest decline over 5 years	-17.54%	-12.18%	-5.36%
Max Drawdown (10Y) Largest decline over 10 years	-24.30%	—	—
Current Drawdown Current decline from peak	-3.47%	-3.41%	-0.06%
Average Drawdown Average peak-to-trough decline	-4.99%	-3.52%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	1.58%	+1.52%

Volatility

MIVO.L vs. FRXD.L - Volatility Comparison

Amundi MSCI Europe Minimum Volatility UCITS (MIVO.L) and Franklin European Quality Dividend UCITS ETF (FRXD.L) have volatilities of 2.68% and 2.63%, 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.

Volatility by Period

	MIVO.L	FRXD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	2.63%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	7.73%	7.06%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	9.14%	8.90%	+0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.98%	11.33%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.52%	13.38%	-0.86%

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

MIVO.L has a 0.13% expense ratio, which is lower than FRXD.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

MIVO.L vs. FRXD.L - Dividend Comparison

MIVO.L has not paid dividends to shareholders, while FRXD.L's dividend yield for the trailing twelve months is around 3.98%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FRXD.L Franklin European Quality Dividend UCITS ETF	3.98%	4.28%	4.30%	5.00%	5.20%	4.63%	3.53%	4.42%	5.53%
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%

Frequently Asked Questions

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

MIVO.L and FRXD.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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

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

MIVO.L tracks MSCI Europe NR EUR, while FRXD.L tracks Franklin European Quality Dividend UCITS ETF. They also come from different issuers: Amundi and Franklin. Their fees differ too: 0.13% for MIVO.L and 0.25% for FRXD.L.