RIEG.L vs. IMV.L

Last updated Jun 4, 2026

RIEG.L (L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating) and IMV.L (iShares Edge MSCI Europe Min Volatility UCITS) are both Europe Equities funds tracking the MSCI Europe NR EUR, from Legal & General and iShares respectively. Both are passively managed. Over the past 5 years, RIEG.L returned 7.95%/yr vs 7.43%/yr for IMV.L. Their correlation of 0.84 suggests significant overlap in exposure. RIEG.L charges 0.16%/yr vs 0.25%/yr for IMV.L.

Performance

RIEG.L vs. IMV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating (RIEG.L) and iShares Edge MSCI Europe Min Volatility UCITS (IMV.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RIEG.L achieves a 3.70% return, which is significantly lower than IMV.L's 4.20% return.

RIEG.L

• 1D: -0.76%
• 1M: 0.88%
• YTD: 3.70%
• 6M: 5.82%
• 1Y: 13.94%
• 3Y*: 11.29%
• 5Y*: 7.95%
• 10Y*: —

IMV.L

• 1D: -0.02%
• 1M: -0.32%
• YTD: 4.20%
• 6M: 5.34%
• 1Y: 8.27%
• 3Y*: 10.29%
• 5Y*: 7.43%
• 10Y*: 7.71%

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

RIEG.L vs. IMV.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
RIEG.L L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating	3.70%	21.77%	4.47%	13.07%	-7.71%	17.00%	5.45%	3.97%
IMV.L iShares Edge MSCI Europe Min Volatility UCITS	4.20%	17.66%	6.63%	8.56%	-7.83%	13.68%	1.50%	1.04%

Correlation

The correlation between RIEG.L and IMV.L is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 18, 2019	0.84

The correlation between RIEG.L and IMV.L has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

RIEG.L vs. IMV.L - Sectors Allocation Comparison

Sectors	RIEG.L	IMV.L
Financial Services	24.1%	17.9%
Industrials	18.2%	15.4%
Healthcare	12.5%	13.0%
Consumer Defensive	10.2%	13.1%
Technology	8.2%	2.8%
Utilities	7.1%	10.2%
Consumer Cyclical	6.9%	3.6%
Communication Services	4.5%	9.6%
Energy	4.5%	7.1%
Basic Materials	3.8%	5.6%
Real Estate	-	1.6%

Return for Risk

RIEG.L vs. IMV.L — Risk / Return Rank

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

RIEG.L

RIEG.L Risk / Return Rank: 30
RIEG.L Sharpe Ratio Rank: 33
RIEG.L Sortino Ratio Rank: 31
RIEG.L Omega Ratio Rank: 33
RIEG.L Calmar Ratio Rank: 26
RIEG.L Martin Ratio Rank: 29

IMV.L

IMV.L Risk / Return Rank: 24
IMV.L Sharpe Ratio Rank: 25
IMV.L Sortino Ratio Rank: 23
IMV.L Omega Ratio Rank: 25
IMV.L Calmar Ratio Rank: 21
IMV.L Martin Ratio Rank: 23

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.

RIEG.L vs. IMV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating (RIEG.L) and iShares Edge MSCI Europe Min Volatility UCITS (IMV.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.

	RIEG.L	IMV.L	Difference
Sharpe ratio: Return per unit of total volatility	1.16	0.90	+0.25
Sortino ratio: Return per unit of downside risk	1.63	1.27	+0.36
Omega ratio: Gain probability vs. loss probability	1.22	1.17	+0.05
Calmar ratio: Return relative to maximum drawdown	1.24	0.97	+0.27
Martin ratio: Return relative to average drawdown	4.05	2.93	+1.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RIEG.L vs. IMV.L - Sharpe Ratio Comparison

The current RIEG.L Sharpe Ratio is 1.16, which is comparable to the IMV.L Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of RIEG.L and IMV.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.

Sharpe Ratios by Period

	RIEG.L	IMV.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	0.90	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.68	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.71	-0.16

Drawdowns

RIEG.L vs. IMV.L - Drawdown Comparison

The maximum RIEG.L drawdown since its inception was -27.21%, which is greater than IMV.L's maximum drawdown of -24.48%. Use the drawdown chart below to compare losses from any high point for RIEG.L and IMV.L.

Drawdown Indicators

	RIEG.L	IMV.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.21%	-24.48%	-2.73%
Max Drawdown (1Y) Largest decline over 1 year	-11.24%	-8.50%	-2.74%
Max Drawdown (3Y) Largest decline over 3 years	-12.35%	-8.50%	-3.85%
Max Drawdown (5Y) Largest decline over 5 years	-19.81%	-17.42%	-2.39%
Max Drawdown (10Y) Largest decline over 10 years	—	-24.48%	—
Current Drawdown Current decline from peak	-4.51%	-5.10%	+0.59%
Average Drawdown Average peak-to-trough decline	-4.40%	-3.57%	-0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	2.82%	+0.61%

Volatility

RIEG.L vs. IMV.L - Volatility Comparison

L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating (RIEG.L) has a higher volatility of 4.11% compared to iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) at 3.04%. This indicates that RIEG.L's price experiences larger fluctuations and is considered to be riskier than IMV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RIEG.L	IMV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	3.04%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	9.99%	7.69%	+2.30%
Volatility (1Y) Calculated over the trailing 1-year period	12.02%	9.14%	+2.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.05%	10.97%	+3.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.18%	12.31%	+3.87%

RIEG.L vs. IMV.L - Expense Ratio Comparison

RIEG.L has a 0.16% expense ratio, which is lower than IMV.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

RIEG.L vs. IMV.L - Dividend Comparison

Neither RIEG.L nor IMV.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both RIEG.L and IMV.L in my portfolio?

RIEG.L and IMV.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RIEG.L or IMV.L?

On fees, RIEG.L is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RIEG.L or IMV.L?

RIEG.L is cheaper with a 0.16% expense ratio, compared with 0.25% for IMV.L.

What is the main difference between RIEG.L and IMV.L?

Both ETFs track MSCI Europe NR EUR. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.16% for RIEG.L and 0.25% for IMV.L.