MVEE.DE vs. LGGE.DE

Last updated Jun 5, 2026

MVEE.DE (iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc)) and LGGE.DE (L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF) are both Europe Equities funds - MVEE.DE tracks the MSCI Europe NR EUR while LGGE.DE tracks the FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality. Both are passively managed. Over the past 3 years, MVEE.DE returned 8.72%/yr vs 24.04%/yr for LGGE.DE. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.

Performance

MVEE.DE vs. LGGE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) (MVEE.DE) and L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVEE.DE achieves a 5.59% return, which is significantly lower than LGGE.DE's 11.27% return.

MVEE.DE

• 1D: 0.56%
• 1M: 0.01%
• YTD: 5.59%
• 6M: 7.14%
• 1Y: 5.59%
• 3Y*: 8.72%
• 5Y*: 6.16%
• 10Y*: —

LGGE.DE

• 1D: 0.15%
• 1M: -0.22%
• YTD: 11.27%
• 6M: 15.32%
• 1Y: 26.49%
• 3Y*: 24.04%
• 5Y*: —
• 10Y*: —

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

MVEE.DE vs. LGGE.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MVEE.DE iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc)	5.59%	8.72%	8.82%	12.50%	-15.12%	8.83%
LGGE.DE L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF	11.27%	38.29%	14.07%	17.18%	-3.86%	7.23%

Correlation

The correlation between MVEE.DE and LGGE.DE is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jul 16, 2021	0.79

The correlation between MVEE.DE and LGGE.DE has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.

Return for Risk

MVEE.DE vs. LGGE.DE — Risk / Return Rank

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

MVEE.DE

MVEE.DE Risk / Return Rank: 18
MVEE.DE Sharpe Ratio Rank: 18
MVEE.DE Sortino Ratio Rank: 17
MVEE.DE Omega Ratio Rank: 17
MVEE.DE Calmar Ratio Rank: 18
MVEE.DE Martin Ratio Rank: 18

LGGE.DE

LGGE.DE Risk / Return Rank: 69
LGGE.DE Sharpe Ratio Rank: 67
LGGE.DE Sortino Ratio Rank: 65
LGGE.DE Omega Ratio Rank: 67
LGGE.DE Calmar Ratio Rank: 73
LGGE.DE Martin Ratio Rank: 71

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.

MVEE.DE vs. LGGE.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) (MVEE.DE) and L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE). 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.

	MVEE.DE	LGGE.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.55	2.19	-1.64
Sortino ratio: Return per unit of downside risk	0.83	2.95	-2.11
Omega ratio: Gain probability vs. loss probability	1.10	1.40	-0.29
Calmar ratio: Return relative to maximum drawdown	0.71	3.61	-2.90
Martin ratio: Return relative to average drawdown	1.87	13.07	-11.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MVEE.DE vs. LGGE.DE - Sharpe Ratio Comparison

The current MVEE.DE Sharpe Ratio is 0.55, which is lower than the LGGE.DE Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of MVEE.DE and LGGE.DE, 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

	MVEE.DE	LGGE.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.55	2.19	-1.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	1.13	-0.42

Drawdowns

MVEE.DE vs. LGGE.DE - Drawdown Comparison

The maximum MVEE.DE drawdown since its inception was -20.20%, roughly equal to the maximum LGGE.DE drawdown of -20.11%. Use the drawdown chart below to compare losses from any high point for MVEE.DE and LGGE.DE.

Drawdown Indicators

	MVEE.DE	LGGE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-20.20%	-20.11%	-0.09%
Max Drawdown (1Y) Largest decline over 1 year	-7.73%	-7.28%	-0.45%
Max Drawdown (3Y) Largest decline over 3 years	-12.13%	-14.71%	+2.58%
Max Drawdown (5Y) Largest decline over 5 years	-20.20%	—	—
Current Drawdown Current decline from peak	-2.23%	-2.09%	-0.14%
Average Drawdown Average peak-to-trough decline	-4.57%	-3.23%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	2.01%	+0.91%

Volatility

MVEE.DE vs. LGGE.DE - Volatility Comparison

iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) (MVEE.DE) and L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE) have volatilities of 3.51% and 3.60%, 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

	MVEE.DE	LGGE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	3.60%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	9.47%	-1.31%
Volatility (1Y) Calculated over the trailing 1-year period	10.01%	11.99%	-1.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.11%	14.60%	-2.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.45%	14.60%	-2.15%

MVEE.DE vs. LGGE.DE - Expense Ratio Comparison

Both MVEE.DE and LGGE.DE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

MVEE.DE vs. LGGE.DE - Dividend Comparison

MVEE.DE has not paid dividends to shareholders, while LGGE.DE's dividend yield for the trailing twelve months is around 3.13%.

Position	TTM	2025	2024	2023	2022	2021
LGGE.DE L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF	3.13%	3.47%	4.37%	4.43%	4.18%	1.52%
MVEE.DE iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MVEE.DE and LGGE.DE in my portfolio?

MVEE.DE and LGGE.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MVEE.DE or LGGE.DE?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MVEE.DE or LGGE.DE?

MVEE.DE and LGGE.DE have the same expense ratio: 0.25% per year.

What is the main difference between MVEE.DE and LGGE.DE?

MVEE.DE tracks MSCI Europe NR EUR, while LGGE.DE tracks FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality. They also come from different issuers: iShares and Legal & General.