MVOL.L vs. ETLX.DE
MVOL.L (iShares Edge MSCI World Minimum Volatility UCITS) and ETLX.DE (L&G Gold Mining UCITS ETF) are both exchange-traded funds - MVOL.L is a Global Equities fund tracking the MSCI ACWI NR USD, while ETLX.DE is a Gold fund tracking the DAXglobal® Gold Miners. Both are passively managed. Over the past 10 years, MVOL.L returned 6.83%/yr vs 11.66%/yr for ETLX.DE. At a 0.25 correlation, their price movements are largely independent. MVOL.L charges 0.35%/yr vs 0.65%/yr for ETLX.DE.
Performance
MVOL.L vs. ETLX.DE - Performance Comparison
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Different Trading Currencies
MVOL.L is traded in USD, while ETLX.DE is traded in EUR. To make them comparable, the ETLX.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, MVOL.L achieves a 2.60% return, which is significantly higher than ETLX.DE's -19.86% return. Over the past 10 years, MVOL.L has underperformed ETLX.DE with an annualized return of 6.83%, while ETLX.DE has yielded a comparatively higher 11.66% annualized return.
MVOL.L
- 1D
- 0.65%
- 1M
- 3.64%
- 6M
- 2.88%
- YTD
- 2.60%
- 1Y
- 4.44%
- 3Y*
- 9.17%
- 5Y*
- 5.10%
- 10Y*
- 6.83%
ETLX.DE
- 1D
- -1.45%
- 1M
- -20.01%
- 6M
- -26.11%
- YTD
- -19.86%
- 1Y
- 44.05%
- 3Y*
- 38.78%
- 5Y*
- 21.24%
- 10Y*
- 11.66%
MVOL.L vs. ETLX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MVOL.L iShares Edge MSCI World Minimum Volatility UCITS | 2.60% | 11.02% | 11.08% | 7.28% | -9.62% | 14.65% | 2.56% | 22.56% | -2.40% | 17.39% |
ETLX.DE L&G Gold Mining UCITS ETF | -19.86% | 185.07% | 20.16% | 14.52% | -12.19% | -10.96% | 23.22% | 39.53% | -10.22% | 10.52% |
Correlation
The correlation between MVOL.L and ETLX.DE is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2012 | 0.25 |
The correlation between MVOL.L and ETLX.DE shifts across timeframes, from 0.18 (1 year) to 0.29 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MVOL.L vs. ETLX.DE — Risk / Return Rank
MVOL.L
ETLX.DE
MVOL.L vs. ETLX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Minimum Volatility UCITS (MVOL.L) and L&G Gold Mining UCITS ETF (ETLX.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.
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.
| MVOL.L | ETLX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.17 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | 1.14 | -0.33 |
| Martin ratioReturn relative to average drawdown | 1.76 | 2.63 | -0.87 |
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Drawdowns
MVOL.L vs. ETLX.DE - Drawdown Comparison
The maximum MVOL.L drawdown since its inception was -28.82%, smaller than the maximum ETLX.DE drawdown of -77.98%. Use the drawdown chart below to compare losses from any high point for MVOL.L and ETLX.DE.
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Drawdown Indicators
| MVOL.L | ETLX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.82% | -77.98% | +49.16% |
Max Drawdown (1Y)Largest decline over 1 year | -5.78% | -38.60% | +32.82% |
Max Drawdown (3Y)Largest decline over 3 years | -8.15% | -38.60% | +30.45% |
Max Drawdown (5Y)Largest decline over 5 years | -18.52% | -48.81% | +30.29% |
Max Drawdown (10Y)Largest decline over 10 years | -28.82% | -54.56% | +25.74% |
Current DrawdownCurrent decline from peak | -2.01% | -38.60% | +36.59% |
Average DrawdownAverage peak-to-trough decline | -3.30% | -41.17% | +37.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 16.71% | -14.06% |
Volatility
MVOL.L vs. ETLX.DE - Volatility Comparison
The current volatility for iShares Edge MSCI World Minimum Volatility UCITS (MVOL.L) is 2.29%, while L&G Gold Mining UCITS ETF (ETLX.DE) has a volatility of 13.89%. This indicates that MVOL.L experiences smaller price fluctuations and is considered to be less risky than ETLX.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MVOL.L | ETLX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.29% | 13.89% | -11.60% |
Volatility (6M)Calculated over the trailing 6-month period | 6.07% | 39.05% | -32.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.87% | 49.96% | -42.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.67% | 39.14% | -28.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.62% | 36.09% | -24.47% |
MVOL.L vs. ETLX.DE - Expense Ratio Comparison
MVOL.L has a 0.35% expense ratio, which is lower than ETLX.DE's 0.65% expense ratio.
Dividends
MVOL.L vs. ETLX.DE - Dividend Comparison
Neither MVOL.L nor ETLX.DE has paid dividends to shareholders.
Frequently Asked Questions
MVOL.L and ETLX.DE have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MVOL.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MVOL.L is cheaper with a 0.35% expense ratio, compared with 0.65% for ETLX.DE.
MVOL.L is categorized as Global Equities, while ETLX.DE is Gold. MVOL.L tracks MSCI ACWI NR USD, while ETLX.DE tracks DAXglobal® Gold Miners. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.35% for MVOL.L and 0.65% for ETLX.DE.
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