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MVOL.L vs. GRID
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MVOL.L vs. GRID

Last updated Jul 18, 2026
Documentation

MVOL.L (iShares Edge MSCI World Minimum Volatility UCITS) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - MVOL.L is a Global Equities fund tracking the MSCI ACWI NR USD, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. Both are passively managed. Over the past 10 years, MVOL.L returned 6.83%/yr vs 18.48%/yr for GRID. At a 0.40 correlation, their price movements are largely independent. MVOL.L charges 0.35%/yr vs 0.70%/yr for GRID.

Performance

MVOL.L vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI World Minimum Volatility UCITS (MVOL.L) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MVOL.L achieves a 2.60% return, which is significantly lower than GRID's 16.76% return. Over the past 10 years, MVOL.L has underperformed GRID with an annualized return of 6.83%, while GRID has yielded a comparatively higher 18.48% 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%

GRID

1D
0.10%
1M
-8.28%
6M
12.20%
YTD
16.76%
1Y
25.70%
3Y*
19.38%
5Y*
15.54%
10Y*
18.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MVOL.L vs. GRID - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		16.76%29.65%15.18%21.57%-13.89%27.65%48.84%42.80%-22.69%27.44%

Correlation

The correlation between MVOL.L and GRID is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.01

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

0.22

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

0.35

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

0.40

Correlation (All Time)
Calculated using the full available price history since Nov 30, 2012

0.40

The correlation between MVOL.L and GRID shifts across timeframes, from -0.01 (1 year) to 0.40 (10 years), reflecting how their relationship changes across market environments.

MVOL.L vs. GRID - Sectors Allocation Comparison

Sectors
MVOL.L
GRID

Technology

24.0%
11.9%

Healthcare

13.8%

-

Financial Services

13.1%

-

Communication Services

11.4%

-

Consumer Defensive

10.3%

-

Industrials

8.9%
25.4%

Utilities

7.4%
4.0%

Consumer Cyclical

5.2%
2.4%

Energy

4.0%
1.6%

Real Estate

1.1%

-

Basic Materials

0.9%
0.8%

Technology

MVOL.L
24.0%
GRID
11.9%

Healthcare

MVOL.L
13.8%
GRID

-

Financial Services

MVOL.L
13.1%
GRID

-

Communication Services

MVOL.L
11.4%
GRID

-

Consumer Defensive

MVOL.L
10.3%
GRID

-

Industrials

MVOL.L
8.9%
GRID
25.4%

Utilities

MVOL.L
7.4%
GRID
4.0%

Consumer Cyclical

MVOL.L
5.2%
GRID
2.4%

Energy

MVOL.L
4.0%
GRID
1.6%

Real Estate

MVOL.L
1.1%
GRID

-

Basic Materials

MVOL.L
0.9%
GRID
0.8%

Compare stocks, funds, or ETFs

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iShares Edge MSCI World Minimum Volatility UCITS

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

Often compared with MVOL.L:
MVOL.L vs. ACWVMVOL.L vs. IWDA.LMVOL.L vs. XDEB.DEMVOL.L vs. VOOMVOL.L vs. XDEM.LMVOL.L vs. USMVMVOL.L vs. SLXX.L
Often compared with GRID:
GRID vs. ICLNGRID vs. NLRGRID vs. VOOGRID vs. POWRGRID vs. VOLTGRID vs. PAVEGRID vs. FIW

Return for Risk

MVOL.L vs. GRID — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MVOL.L
MVOL.L Risk / Return Rank: 2020
Overall Rank
MVOL.L Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
MVOL.L Sortino Ratio Rank: 1919
Sortino Ratio Rank
MVOL.L Omega Ratio Rank: 1919
Omega Ratio Rank
MVOL.L Calmar Ratio Rank: 2222
Calmar Ratio Rank
MVOL.L Martin Ratio Rank: 2020
Martin Ratio Rank
GRID
GRID Risk / Return Rank: 4444
Overall Rank
GRID Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
GRID Sortino Ratio Rank: 3737
Sortino Ratio Rank
GRID Omega Ratio Rank: 3838
Omega Ratio Rank
GRID Calmar Ratio Rank: 5454
Calmar Ratio Rank
GRID Martin Ratio Rank: 5050
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.

MVOL.L vs. GRID - 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 First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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.LGRIDDifference
Sharpe ratioReturn per unit of total volatility
0.59
1.16

-0.57

Sortino ratioReturn per unit of downside risk
0.87
1.63

-0.76

Omega ratioGain probability vs. loss probability

1.11

1.21

-0.10

Calmar ratioReturn relative to maximum drawdown

0.81

2.18

-1.37

Martin ratioReturn relative to average drawdown

1.76

6.68

-4.92

MVOL.L vs. GRID - Sharpe Ratio Comparison

The current MVOL.L Sharpe Ratio is 0.59, which is lower than the GRID Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of MVOL.L and GRID, 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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Drawdowns

MVOL.L vs. GRID - Drawdown Comparison

The maximum MVOL.L drawdown since its inception was -28.82%, smaller than the maximum GRID drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for MVOL.L and GRID.

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Drawdown Indicators

MVOL.LGRIDDifference

Max Drawdown

Largest peak-to-trough decline

-28.82%

-40.56%

+11.74%

Max Drawdown (1Y)

Largest decline over 1 year

-5.78%

-11.73%

+5.95%

Max Drawdown (3Y)

Largest decline over 3 years

-8.15%

-20.62%

+12.47%

Max Drawdown (5Y)

Largest decline over 5 years

-18.52%

-29.64%

+11.12%

Max Drawdown (10Y)

Largest decline over 10 years

-28.82%

-40.56%

+11.74%

Current Drawdown

Current decline from peak

-2.01%

-10.63%

+8.62%

Average Drawdown

Average peak-to-trough decline

-3.30%

-8.41%

+5.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.65%

3.82%

-1.17%

Volatility

MVOL.L vs. GRID - Volatility Comparison

The current volatility for iShares Edge MSCI World Minimum Volatility UCITS (MVOL.L) is 2.29%, while First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) has a volatility of 8.77%. This indicates that MVOL.L experiences smaller price fluctuations and is considered to be less risky than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MVOL.LGRIDDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.29%

8.77%

-6.48%

Volatility (6M)

Calculated over the trailing 6-month period

6.07%

19.36%

-13.29%

Volatility (1Y)

Calculated over the trailing 1-year period

7.87%

22.18%

-14.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.67%

21.53%

-10.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.62%

22.71%

-11.09%

MVOL.L vs. GRID - Expense Ratio Comparison

MVOL.L has a 0.35% expense ratio, which is lower than GRID's 0.70% expense ratio.

Dividends

MVOL.L vs. GRID - Dividend Comparison

MVOL.L has not paid dividends to shareholders, while GRID's dividend yield for the trailing twelve months is around 0.80%.

PositionTTM20252024202320222021202020192018201720162015
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		0.80%1.01%1.06%1.23%1.26%0.63%0.68%1.26%1.28%1.07%1.07%1.23%
MVOL.L
iShares Edge MSCI World Minimum Volatility UCITS		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

MVOL.L and GRID have a correlation of -0.01, 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 0.70% for GRID.

MVOL.L is categorized as Global Equities, while GRID is Alternative Energy Equities. MVOL.L tracks MSCI ACWI NR USD, while GRID tracks Nasdaq Clean Edge Smart Grid Infrastructure Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.35% for MVOL.L and 0.70% for GRID.

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