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MVEU.L vs. CMB1.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MVEU.L vs. CMB1.L

Last updated Jun 6, 2026

MVEU.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)) and CMB1.L (iShares FTSE MIB UCITS ETF (Acc)) are both Europe Equities funds from iShares - MVEU.L tracks the MSCI Europe NR EUR while CMB1.L tracks the FTSE Italia AllShare TR EUR. Both are passively managed. Over the past 10 years, MVEU.L returned 6.63%/yr vs 14.73%/yr for CMB1.L. A 0.64 correlation means they provide meaningful diversification when combined. MVEU.L charges 0.25%/yr vs 0.33%/yr for CMB1.L.

Performance

MVEU.L vs. CMB1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L) and iShares FTSE MIB UCITS ETF (Acc) (CMB1.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

MVEU.L is traded in EUR, while CMB1.L is traded in GBp. To make them comparable, the CMB1.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, MVEU.L achieves a 6.31% return, which is significantly lower than CMB1.L's 14.10% return. Over the past 10 years, MVEU.L has underperformed CMB1.L with an annualized return of 6.63%, while CMB1.L has yielded a comparatively higher 14.73% annualized return.

MVEU.L

1D
0.44%
1M
0.22%
YTD
6.31%
6M
7.60%
1Y
5.80%
3Y*
10.44%
5Y*
7.49%
10Y*
6.63%

CMB1.L

1D
-0.52%
1M
1.83%
YTD
14.10%
6M
17.72%
1Y
29.34%
3Y*
28.37%
5Y*
19.64%
10Y*
14.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MVEU.L vs. CMB1.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MVEU.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)		6.31%11.66%11.79%10.66%-12.67%21.67%-3.86%22.42%-3.82%9.48%
CMB1.L
iShares FTSE MIB UCITS ETF (Acc)		14.10%36.33%18.72%33.45%-8.53%25.99%-4.00%32.77%-14.85%17.65%

Correlation

The correlation between MVEU.L and CMB1.L is 0.58, 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

0.58

Correlation (3Y)
Calculated over the trailing 3-year period

0.62

Correlation (5Y)
Calculated over the trailing 5-year period

0.66

Correlation (10Y)
Calculated over the trailing 10-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Dec 3, 2012

0.64

The correlation between MVEU.L and CMB1.L has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.

MVEU.L vs. CMB1.L - Sectors Allocation Comparison

Sectors
MVEU.L
CMB1.L

Financial Services

17.6%
45.1%

Industrials

14.8%
10.8%

Consumer Defensive

13.1%
0.5%

Healthcare

12.8%
1.1%

Utilities

10.2%
17.2%

Communication Services

9.6%
1.1%

Energy

7.0%
8.8%

Basic Materials

5.5%
0.6%

Consumer Cyclical

3.8%
10.0%

Technology

2.8%
4.6%

Real Estate

1.6%
0.3%

Financial Services

MVEU.L
17.6%
CMB1.L
45.1%

Industrials

MVEU.L
14.8%
CMB1.L
10.8%

Consumer Defensive

MVEU.L
13.1%
CMB1.L
0.5%

Healthcare

MVEU.L
12.8%
CMB1.L
1.1%

Utilities

MVEU.L
10.2%
CMB1.L
17.2%

Communication Services

MVEU.L
9.6%
CMB1.L
1.1%

Energy

MVEU.L
7.0%
CMB1.L
8.8%

Basic Materials

MVEU.L
5.5%
CMB1.L
0.6%

Consumer Cyclical

MVEU.L
3.8%
CMB1.L
10.0%

Technology

MVEU.L
2.8%
CMB1.L
4.6%

Real Estate

MVEU.L
1.6%
CMB1.L
0.3%

Compare stocks, funds, or ETFs

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iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)

iShares FTSE MIB UCITS ETF (Acc)

Often compared with MVEU.L:
MVEU.L vs. SVOLMVEU.L vs. VTMVEU.L vs. FLXD.LMVEU.L vs. CS1.LMVEU.L vs. CSP1.LMVEU.L vs. IITU.LMVEU.L vs. EUHD.L
Often compared with CMB1.L:
CMB1.L vs. XDEM.LCMB1.L vs. IITU.LCMB1.L vs. H50E.LCMB1.L vs. SPYCMB1.L vs. X7PP.LCMB1.L vs. IQSA.LCMB1.L vs. EQQQ.L

Return for Risk

MVEU.L vs. CMB1.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MVEU.L
MVEU.L Risk / Return Rank: 2121
Overall Rank
MVEU.L Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
MVEU.L Sortino Ratio Rank: 2020
Sortino Ratio Rank
MVEU.L Omega Ratio Rank: 2020
Omega Ratio Rank
MVEU.L Calmar Ratio Rank: 2020
Calmar Ratio Rank
MVEU.L Martin Ratio Rank: 2121
Martin Ratio Rank
CMB1.L
CMB1.L Risk / Return Rank: 7070
Overall Rank
CMB1.L Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
CMB1.L Sortino Ratio Rank: 7272
Sortino Ratio Rank
CMB1.L Omega Ratio Rank: 7070
Omega Ratio Rank
CMB1.L Calmar Ratio Rank: 6969
Calmar Ratio Rank
CMB1.L Martin Ratio Rank: 6868
Martin Ratio Rank
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.

MVEU.L vs. CMB1.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L) and iShares FTSE MIB UCITS ETF (Acc) (CMB1.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.

MVEU.LCMB1.LDifference
Sharpe ratioReturn per unit of total volatility
0.67
1.92

-1.25

Sortino ratioReturn per unit of downside risk
0.98
2.68

-1.69

Omega ratioGain probability vs. loss probability

1.12

1.34

-0.22

Calmar ratioReturn relative to maximum drawdown

0.82

3.12

-2.30

Martin ratioReturn relative to average drawdown

2.15

11.04

-8.88

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MVEU.L vs. CMB1.L - Sharpe Ratio Comparison

The current MVEU.L Sharpe Ratio is 0.67, which is lower than the CMB1.L Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of MVEU.L and CMB1.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.

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Sharpe Ratios by Period

MVEU.LCMB1.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.67

1.92

-1.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.68

1.08

-0.40

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

0.70

-0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.23

+0.42

Drawdowns

MVEU.L vs. CMB1.L - Drawdown Comparison

The maximum MVEU.L drawdown since its inception was -30.56%, smaller than the maximum CMB1.L drawdown of -52.45%. Use the drawdown chart below to compare losses from any high point for MVEU.L and CMB1.L.

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Drawdown Indicators

MVEU.LCMB1.LDifference

Max Drawdown

Largest peak-to-trough decline

-30.56%

-52.45%

+21.89%

Max Drawdown (1Y)

Largest decline over 1 year

-7.04%

-9.35%

+2.31%

Max Drawdown (3Y)

Largest decline over 3 years

-10.78%

-17.56%

+6.78%

Max Drawdown (5Y)

Largest decline over 5 years

-19.51%

-25.02%

+5.51%

Max Drawdown (10Y)

Largest decline over 10 years

-30.56%

-41.13%

+10.57%

Current Drawdown

Current decline from peak

-2.64%

-1.30%

-1.34%

Average Drawdown

Average peak-to-trough decline

-4.56%

-14.56%

+10.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.57%

2.63%

-0.06%

Volatility

MVEU.L vs. CMB1.L - Volatility Comparison

The current volatility for iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L) is 2.52%, while iShares FTSE MIB UCITS ETF (Acc) (CMB1.L) has a volatility of 3.83%. This indicates that MVEU.L experiences smaller price fluctuations and is considered to be less risky than CMB1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MVEU.LCMB1.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.52%

3.83%

-1.31%

Volatility (6M)

Calculated over the trailing 6-month period

6.90%

11.99%

-5.09%

Volatility (1Y)

Calculated over the trailing 1-year period

8.59%

15.23%

-6.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.06%

18.17%

-7.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.49%

20.87%

-8.38%

MVEU.L vs. CMB1.L - Expense Ratio Comparison

MVEU.L has a 0.25% expense ratio, which is lower than CMB1.L's 0.33% expense ratio.

Dividends

MVEU.L vs. CMB1.L - Dividend Comparison

Neither MVEU.L nor CMB1.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

MVEU.L and CMB1.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, MVEU.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MVEU.L is cheaper with a 0.25% expense ratio, compared with 0.33% for CMB1.L.

MVEU.L tracks MSCI Europe NR EUR, while CMB1.L tracks FTSE Italia AllShare TR EUR. Their fees differ too: 0.25% for MVEU.L and 0.33% for CMB1.L.

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