RIEU.L vs. MVED.L

Last updated Jul 16, 2026

RIEU.L (L&G MSCI Europe Select UCITS ETF - EUR Accumulating ETF) and MVED.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)) are both Europe Equities funds - RIEU.L tracks the L&G MSCI Europe Select UCITS ETF - EUR Accumulating ETF while MVED.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, RIEU.L returned 8.33%/yr vs 7.01%/yr for MVED.L. Their correlation of 0.84 suggests significant overlap in exposure. RIEU.L charges 0.10%/yr vs 0.25%/yr for MVED.L.

Performance

RIEU.L vs. MVED.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in L&G MSCI Europe Select UCITS ETF - EUR Accumulating ETF (RIEU.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with RIEU.L having a 8.55% return and MVED.L slightly lower at 8.45%.

RIEU.L

• 1D: -0.50%
• 1M: 1.30%
• 6M: 5.51%
• YTD: 8.55%
• 1Y: 16.21%
• 3Y*: 12.73%
• 5Y*: 8.33%
• 10Y*: —

MVED.L

• 1D: -0.13%
• 1M: 1.36%
• 6M: 6.60%
• YTD: 8.45%
• 1Y: 11.37%
• 3Y*: 11.83%
• 5Y*: 7.01%
• 10Y*: —

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

RIEU.L vs. MVED.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
RIEU.L L&G MSCI Europe Select UCITS ETF - EUR Accumulating ETF	8.55%	15.57%	9.47%	15.33%	-12.34%	24.84%	0.23%	10.89%
MVED.L iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)	8.45%	11.81%	11.70%	10.68%	-12.60%	21.57%	-3.93%	6.47%

Correlation

The correlation between RIEU.L and MVED.L is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Aug 30, 2019	0.84

The correlation between RIEU.L and MVED.L has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.

Return for Risk

RIEU.L vs. MVED.L — Risk / Return Rank

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

RIEU.L

RIEU.L Risk / Return Rank: 43
RIEU.L Sharpe Ratio Rank: 45
RIEU.L Sortino Ratio Rank: 45
RIEU.L Omega Ratio Rank: 45
RIEU.L Calmar Ratio Rank: 38
RIEU.L Martin Ratio Rank: 43

MVED.L

MVED.L Risk / Return Rank: 41
MVED.L Sharpe Ratio Rank: 43
MVED.L Sortino Ratio Rank: 40
MVED.L Omega Ratio Rank: 44
MVED.L Calmar Ratio Rank: 38
MVED.L Martin Ratio Rank: 39

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.

RIEU.L vs. MVED.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G MSCI Europe Select UCITS ETF - EUR Accumulating ETF (RIEU.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.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.

	RIEU.L	MVED.L	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.27	+0.05
Sortino ratio: Return per unit of downside risk	1.90	1.77	+0.13
Omega ratio: Gain probability vs. loss probability	1.24	1.24	0.00
Calmar ratio: Return relative to maximum drawdown	1.62	1.62	+0.01
Martin ratio: Return relative to average drawdown	5.67	4.91	+0.76

RIEU.L vs. MVED.L - Sharpe Ratio Comparison

The current RIEU.L Sharpe Ratio is 1.32, which is comparable to the MVED.L Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of RIEU.L and MVED.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

RIEU.L vs. MVED.L - Drawdown Comparison

The maximum RIEU.L drawdown since its inception was -34.22%, which is greater than MVED.L's maximum drawdown of -30.52%. Use the drawdown chart below to compare losses from any high point for RIEU.L and MVED.L.

Drawdown Indicators

	RIEU.L	MVED.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.22%	-30.52%	-3.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-7.01%	-3.19%
Max Drawdown (3Y) Largest decline over 3 years	-16.18%	-10.47%	-5.71%
Max Drawdown (5Y) Largest decline over 5 years	-22.82%	-19.58%	-3.24%
Current Drawdown Current decline from peak	-2.14%	-0.67%	-1.47%
Average Drawdown Average peak-to-trough decline	-5.56%	-5.03%	-0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	2.31%	+0.61%

Volatility

RIEU.L vs. MVED.L - Volatility Comparison

L&G MSCI Europe Select UCITS ETF - EUR Accumulating ETF (RIEU.L) has a higher volatility of 2.98% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.L) at 2.77%. This indicates that RIEU.L's price experiences larger fluctuations and is considered to be riskier than MVED.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RIEU.L	MVED.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.98%	2.77%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	10.41%	7.47%	+2.94%
Volatility (1Y) Calculated over the trailing 1-year period	12.57%	8.96%	+3.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.61%	11.02%	+3.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	12.59%	+4.01%

RIEU.L vs. MVED.L - Expense Ratio Comparison

RIEU.L has a 0.10% expense ratio, which is lower than MVED.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

RIEU.L vs. MVED.L - Dividend Comparison

RIEU.L has not paid dividends to shareholders, while MVED.L's dividend yield for the trailing twelve months is around 2.52%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MVED.L iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)	2.52%	2.69%	2.56%	2.67%	2.95%	2.16%	2.54%	2.81%	2.51%
RIEU.L L&G MSCI Europe Select UCITS ETF - EUR Accumulating ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RIEU.L and MVED.L in my portfolio?

RIEU.L and MVED.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RIEU.L or MVED.L?

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

Which ETF is cheaper, RIEU.L or MVED.L?

RIEU.L is cheaper with a 0.10% expense ratio, compared with 0.25% for MVED.L.

What is the main difference between RIEU.L and MVED.L?

RIEU.L tracks L&G MSCI Europe Select UCITS ETF - EUR Accumulating ETF, while MVED.L tracks MSCI Europe NR EUR. They also come from different issuers: L&G and BlackRock. Their fees differ too: 0.10% for RIEU.L and 0.25% for MVED.L.