MXUS.L vs. EMVL.L

Last updated Jul 16, 2026

MXUS.L (Invesco MSCI USA UCITS ETF) and EMVL.L (iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc)) are both exchange-traded funds - MXUS.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while EMVL.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 5 years, MXUS.L returned 12.78%/yr vs 15.16%/yr for EMVL.L. A 0.63 correlation means they provide meaningful diversification when combined. MXUS.L charges 0.05%/yr vs 0.40%/yr for EMVL.L.

Performance

MXUS.L vs. EMVL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI USA UCITS ETF (MXUS.L) and iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXUS.L achieves a 10.31% return, which is significantly lower than EMVL.L's 31.45% return.

MXUS.L

• 1D: 0.14%
• 1M: 0.23%
• 6M: 9.97%
• YTD: 10.31%
• 1Y: 21.58%
• 3Y*: 20.27%
• 5Y*: 12.78%
• 10Y*: 15.05%

EMVL.L

• 1D: -1.18%
• 1M: -9.38%
• 6M: 23.78%
• YTD: 31.45%
• 1Y: 56.66%
• 3Y*: 31.82%
• 5Y*: 15.16%
• 10Y*: —

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

MXUS.L vs. EMVL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MXUS.L Invesco MSCI USA UCITS ETF	10.31%	17.34%	25.58%	27.83%	-20.03%	27.90%	20.98%	31.00%	-7.29%
EMVL.L iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc)	31.45%	43.13%	14.49%	18.37%	-16.29%	5.29%	7.72%	17.64%	-2.10%

Correlation

The correlation between MXUS.L and EMVL.L is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Dec 6, 2018	0.63

The correlation between MXUS.L and EMVL.L has been stable across timeframes, ranging from 0.58 to 0.63 - a consistent structural relationship.

MXUS.L vs. EMVL.L - Sectors Allocation Comparison

Sectors	MXUS.L	EMVL.L
Technology	38.9%	49.0%
Financial Services	10.9%	16.6%
Communication Services	10.7%	1.6%
Consumer Cyclical	9.9%	7.0%
Healthcare	8.4%	1.6%
Industrials	8.1%	3.7%
Consumer Defensive	4.4%	1.2%
Energy	3.2%	6.9%
Utilities	2.0%	1.5%
Real Estate	1.8%	1.8%
Basic Materials	1.7%	9.1%

Return for Risk

MXUS.L vs. EMVL.L — Risk / Return Rank

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

MXUS.L

MXUS.L Risk / Return Rank: 68
MXUS.L Sharpe Ratio Rank: 68
MXUS.L Sortino Ratio Rank: 73
MXUS.L Omega Ratio Rank: 67
MXUS.L Calmar Ratio Rank: 63
MXUS.L Martin Ratio Rank: 70

EMVL.L

EMVL.L Risk / Return Rank: 86
EMVL.L Sharpe Ratio Rank: 89
EMVL.L Sortino Ratio Rank: 81
EMVL.L Omega Ratio Rank: 86
EMVL.L Calmar Ratio Rank: 91
EMVL.L Martin Ratio Rank: 82

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.

MXUS.L vs. EMVL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI USA UCITS ETF (MXUS.L) and iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.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.

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.

	MXUS.L	EMVL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.78	2.37	-0.59
Sortino ratio: Return per unit of downside risk	2.64	2.90	-0.26
Omega ratio: Gain probability vs. loss probability	1.32	1.41	-0.09
Calmar ratio: Return relative to maximum drawdown	2.57	4.51	-1.94
Martin ratio: Return relative to average drawdown	10.29	12.55	-2.26

MXUS.L vs. EMVL.L - Sharpe Ratio Comparison

The current MXUS.L Sharpe Ratio is 1.78, which is comparable to the EMVL.L Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of MXUS.L and EMVL.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.

Drawdowns

MXUS.L vs. EMVL.L - Drawdown Comparison

The maximum MXUS.L drawdown since its inception was -34.38%, roughly equal to the maximum EMVL.L drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for MXUS.L and EMVL.L.

Drawdown Indicators

	MXUS.L	EMVL.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.38%	-34.95%	+0.57%
Max Drawdown (1Y) Largest decline over 1 year	-8.35%	-12.49%	+4.14%
Max Drawdown (3Y) Largest decline over 3 years	-18.78%	-16.42%	-2.36%
Max Drawdown (5Y) Largest decline over 5 years	-25.25%	-31.61%	+6.36%
Max Drawdown (10Y) Largest decline over 10 years	-34.38%	—	—
Current Drawdown Current decline from peak	-0.45%	-12.45%	+12.00%
Average Drawdown Average peak-to-trough decline	-3.91%	-9.51%	+5.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	4.50%	-2.41%

Volatility

MXUS.L vs. EMVL.L - Volatility Comparison

The current volatility for Invesco MSCI USA UCITS ETF (MXUS.L) is 2.84%, while iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.L) has a volatility of 10.34%. This indicates that MXUS.L experiences smaller price fluctuations and is considered to be less risky than EMVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXUS.L	EMVL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	10.34%	-7.50%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	21.31%	-12.00%
Volatility (1Y) Calculated over the trailing 1-year period	12.09%	23.82%	-11.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.26%	20.71%	-4.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.28%	21.39%	-5.11%

MXUS.L vs. EMVL.L - Expense Ratio Comparison

MXUS.L has a 0.05% expense ratio, which is lower than EMVL.L's 0.40% expense ratio.

Dividends

MXUS.L vs. EMVL.L - Dividend Comparison

Neither MXUS.L nor EMVL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MXUS.L and EMVL.L in my portfolio?

MXUS.L and EMVL.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MXUS.L or EMVL.L?

On fees, MXUS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MXUS.L or EMVL.L?

MXUS.L is cheaper with a 0.05% expense ratio, compared with 0.40% for EMVL.L.

What is the main difference between MXUS.L and EMVL.L?

MXUS.L is categorized as Large Cap Blend Equities, while EMVL.L is Emerging Markets Equities. MXUS.L tracks Russell 1000 TR USD, while EMVL.L tracks MSCI EM NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.05% for MXUS.L and 0.40% for EMVL.L.