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MVEU.L vs. CS51.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MVEU.L vs. CS51.L

Last updated Jun 6, 2026

MVEU.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)) and CS51.L (iShares VII plc - iShares Core EURO STOXX 50 ETF EUR Acc) are both Europe Equities funds from iShares - MVEU.L tracks the MSCI Europe NR EUR while CS51.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, MVEU.L returned 6.63%/yr vs 10.29%/yr for CS51.L. A 0.76 correlation means they provide meaningful diversification when combined. MVEU.L charges 0.25%/yr vs 0.10%/yr for CS51.L.

Performance

MVEU.L vs. CS51.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 VII plc - iShares Core EURO STOXX 50 ETF EUR Acc (CS51.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 CS51.L is traded in GBp. To make them comparable, the CS51.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with MVEU.L having a 6.31% return and CS51.L slightly higher at 6.58%. Over the past 10 years, MVEU.L has underperformed CS51.L with an annualized return of 6.63%, while CS51.L has yielded a comparatively higher 10.29% 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%

CS51.L

1D
-0.83%
1M
1.07%
YTD
6.58%
6M
7.74%
1Y
14.90%
3Y*
15.27%
5Y*
11.35%
10Y*
10.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MVEU.L vs. CS51.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%
CS51.L
iShares VII plc - iShares Core EURO STOXX 50 ETF EUR Acc		6.58%21.52%11.29%22.49%-8.28%23.00%-2.88%29.93%-11.81%9.96%

Correlation

The correlation between MVEU.L and CS51.L is 0.59, 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

0.59

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

0.63

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

0.71

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

0.75

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

0.76

The correlation between MVEU.L and CS51.L shifts across timeframes, from 0.59 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

MVEU.L vs. CS51.L - Sectors Allocation Comparison

Sectors
MVEU.L
CS51.L

Financial Services

17.6%
25.0%

Industrials

14.8%
21.7%

Consumer Defensive

13.1%
5.5%

Healthcare

12.8%
5.2%

Utilities

10.2%
4.5%

Communication Services

9.6%
2.4%

Energy

7.0%
4.8%

Basic Materials

5.5%
3.5%

Consumer Cyclical

3.8%
9.8%

Technology

2.8%
17.6%

Real Estate

1.6%

-

Financial Services

MVEU.L
17.6%
CS51.L
25.0%

Industrials

MVEU.L
14.8%
CS51.L
21.7%

Consumer Defensive

MVEU.L
13.1%
CS51.L
5.5%

Healthcare

MVEU.L
12.8%
CS51.L
5.2%

Utilities

MVEU.L
10.2%
CS51.L
4.5%

Communication Services

MVEU.L
9.6%
CS51.L
2.4%

Energy

MVEU.L
7.0%
CS51.L
4.8%

Basic Materials

MVEU.L
5.5%
CS51.L
3.5%

Consumer Cyclical

MVEU.L
3.8%
CS51.L
9.8%

Technology

MVEU.L
2.8%
CS51.L
17.6%

Real Estate

MVEU.L
1.6%
CS51.L

-

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

iShares VII plc - iShares Core EURO STOXX 50 ETF EUR 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. IUIT.L
Often compared with CS51.L:
CS51.L vs. SMEA.LCS51.L vs. XSX6.LCS51.L vs. MEUD.LCS51.L vs. VERG.LCS51.L vs. MSED.LCS51.L vs. CEU1.LCS51.L vs. IEFQ.L

Return for Risk

MVEU.L vs. CS51.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
CS51.L
CS51.L Risk / Return Rank: 3535
Overall Rank
CS51.L Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
CS51.L Sortino Ratio Rank: 3636
Sortino Ratio Rank
CS51.L Omega Ratio Rank: 3535
Omega Ratio Rank
CS51.L Calmar Ratio Rank: 3434
Calmar Ratio Rank
CS51.L Martin Ratio Rank: 3636
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. CS51.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 VII plc - iShares Core EURO STOXX 50 ETF EUR Acc (CS51.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.LCS51.LDifference
Sharpe ratioReturn per unit of total volatility
0.67
0.95

-0.28

Sortino ratioReturn per unit of downside risk
0.98
1.49

-0.51

Omega ratioGain probability vs. loss probability

1.12

1.18

-0.05

Calmar ratioReturn relative to maximum drawdown

0.82

1.35

-0.53

Martin ratioReturn relative to average drawdown

2.15

4.61

-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.

MVEU.L vs. CS51.L - Sharpe Ratio Comparison

The current MVEU.L Sharpe Ratio is 0.67, which is comparable to the CS51.L Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of MVEU.L and CS51.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.LCS51.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.67

0.95

-0.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.68

0.59

+0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

0.53

0.00

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.02

+0.62

Drawdowns

MVEU.L vs. CS51.L - Drawdown Comparison

The maximum MVEU.L drawdown since its inception was -30.56%, smaller than the maximum CS51.L drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for MVEU.L and CS51.L.

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Drawdown Indicators

MVEU.LCS51.LDifference

Max Drawdown

Largest peak-to-trough decline

-30.56%

-40.20%

+9.64%

Max Drawdown (1Y)

Largest decline over 1 year

-7.04%

-10.99%

+3.95%

Max Drawdown (3Y)

Largest decline over 3 years

-10.78%

-16.16%

+5.38%

Max Drawdown (5Y)

Largest decline over 5 years

-19.51%

-23.55%

+4.04%

Max Drawdown (10Y)

Largest decline over 10 years

-30.56%

-40.20%

+9.64%

Current Drawdown

Current decline from peak

-2.64%

-0.84%

-1.80%

Average Drawdown

Average peak-to-trough decline

-4.56%

-8.23%

+3.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.57%

3.22%

-0.65%

Volatility

MVEU.L vs. CS51.L - Volatility Comparison

The current volatility for iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L) is 2.52%, while iShares VII plc - iShares Core EURO STOXX 50 ETF EUR Acc (CS51.L) has a volatility of 4.29%. This indicates that MVEU.L experiences smaller price fluctuations and is considered to be less risky than CS51.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.LCS51.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.52%

4.29%

-1.77%

Volatility (6M)

Calculated over the trailing 6-month period

6.90%

12.50%

-5.60%

Volatility (1Y)

Calculated over the trailing 1-year period

8.59%

15.63%

-7.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.06%

19.27%

-8.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.49%

19.42%

-6.93%

MVEU.L vs. CS51.L - Expense Ratio Comparison

MVEU.L has a 0.25% expense ratio, which is higher than CS51.L's 0.10% 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

MVEU.L vs. CS51.L - Dividend Comparison

Neither MVEU.L nor CS51.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

MVEU.L and CS51.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CS51.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CS51.L is cheaper with a 0.10% expense ratio, compared with 0.25% for MVEU.L.

MVEU.L tracks MSCI Europe NR EUR, while CS51.L tracks MSCI EMU NR EUR. Their fees differ too: 0.25% for MVEU.L and 0.10% for CS51.L.

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