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S600.L vs. IEVL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

S600.L vs. IEVL.L

Last updated Jun 5, 2026

S600.L (Invesco STOXX Europe 600 UCITS ETF) and IEVL.L (iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating) are both Europe Equities funds - S600.L tracks the MSCI Europe NR EUR while IEVL.L tracks the MSCI Europe Enhanced Value Index. Both are passively managed. Over the past 10 years, S600.L returned 10.10%/yr vs 11.78%/yr for IEVL.L. Their correlation of 0.89 suggests significant overlap in exposure. S600.L charges 0.19%/yr vs 0.25%/yr for IEVL.L.

Performance

S600.L vs. IEVL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco STOXX Europe 600 UCITS ETF (S600.L) and iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

S600.L is traded in GBp, while IEVL.L is traded in EUR. To make them comparable, the IEVL.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, S600.L achieves a 6.62% return, which is significantly lower than IEVL.L's 13.06% return. Over the past 10 years, S600.L has underperformed IEVL.L with an annualized return of 10.10%, while IEVL.L has yielded a comparatively higher 11.78% annualized return.

S600.L

1D
0.63%
1M
0.83%
YTD
6.62%
6M
8.86%
1Y
19.13%
3Y*
13.88%
5Y*
9.71%
10Y*
10.10%

IEVL.L

1D
0.12%
1M
2.70%
YTD
13.06%
6M
15.89%
1Y
35.67%
3Y*
21.79%
5Y*
14.63%
10Y*
11.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

S600.L vs. IEVL.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
S600.L
Invesco STOXX Europe 600 UCITS ETF		6.62%26.17%3.70%13.14%-4.95%16.44%3.69%20.15%-9.75%15.24%
IEVL.L
iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating		13.06%42.23%5.56%11.28%1.19%19.17%-3.59%14.85%-12.63%15.13%

Correlation

The correlation between S600.L and IEVL.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.91

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

0.89

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

0.88

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

0.88

Correlation (All Time)
Calculated using the full available price history since Jan 20, 2015

0.89

The correlation between S600.L and IEVL.L has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

S600.L vs. IEVL.L - Sectors Allocation Comparison

Sectors
S600.L
IEVL.L

Financial Services

23.7%
22.6%

Industrials

20.2%
17.0%

Healthcare

12.6%
12.3%

Technology

8.4%
12.2%

Consumer Defensive

8.1%
8.6%

Consumer Cyclical

6.8%
6.2%

Energy

5.7%
5.1%

Basic Materials

5.5%
6.2%

Utilities

4.9%
4.5%

Communication Services

3.0%
3.7%

Real Estate

1.2%
0.6%

Financial Services

S600.L
23.7%
IEVL.L
22.6%

Industrials

S600.L
20.2%
IEVL.L
17.0%

Healthcare

S600.L
12.6%
IEVL.L
12.3%

Technology

S600.L
8.4%
IEVL.L
12.2%

Consumer Defensive

S600.L
8.1%
IEVL.L
8.6%

Consumer Cyclical

S600.L
6.8%
IEVL.L
6.2%

Energy

S600.L
5.7%
IEVL.L
5.1%

Basic Materials

S600.L
5.5%
IEVL.L
6.2%

Utilities

S600.L
4.9%
IEVL.L
4.5%

Communication Services

S600.L
3.0%
IEVL.L
3.7%

Real Estate

S600.L
1.2%
IEVL.L
0.6%

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Invesco STOXX Europe 600 UCITS ETF

iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating

Often compared with S600.L:
S600.L vs. SMEA.LS600.L vs. VWCE.DES600.L vs. SX5S.LS600.L vs. SC0C.DES600.L vs. QQQS600.L vs. FEV.LS600.L vs. SPY5.L
Often compared with IEVL.L:
IEVL.L vs. AINF.LIEVL.L vs. FBTU.LIEVL.L vs. IUCS.LIEVL.L vs. CSKR.LIEVL.L vs. 36BA.DEIEVL.L vs. IEMA.LIEVL.L vs. GLD

Return for Risk

S600.L vs. IEVL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
S600.L
S600.L Risk / Return Rank: 4444
Overall Rank
S600.L Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
S600.L Sortino Ratio Rank: 4646
Sortino Ratio Rank
S600.L Omega Ratio Rank: 4949
Omega Ratio Rank
S600.L Calmar Ratio Rank: 3737
Calmar Ratio Rank
S600.L Martin Ratio Rank: 4242
Martin Ratio Rank
IEVL.L
IEVL.L Risk / Return Rank: 7272
Overall Rank
IEVL.L Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
IEVL.L Sortino Ratio Rank: 7373
Sortino Ratio Rank
IEVL.L Omega Ratio Rank: 7575
Omega Ratio Rank
IEVL.L Calmar Ratio Rank: 6868
Calmar Ratio Rank
IEVL.L Martin Ratio Rank: 6868
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.

S600.L vs. IEVL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco STOXX Europe 600 UCITS ETF (S600.L) and iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.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.

S600.LIEVL.LDifference
Sharpe ratioReturn per unit of total volatility
1.58
2.68

-1.09

Sortino ratioReturn per unit of downside risk
2.23
3.60

-1.37

Omega ratioGain probability vs. loss probability

1.30

1.48

-0.18

Calmar ratioReturn relative to maximum drawdown

1.82

3.42

-1.59

Martin ratioReturn relative to average drawdown

6.60

12.68

-6.08

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

S600.L vs. IEVL.L - Sharpe Ratio Comparison

The current S600.L Sharpe Ratio is 1.58, which is lower than the IEVL.L Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of S600.L and IEVL.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.

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Sharpe Ratios by Period

S600.LIEVL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.58

2.68

-1.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.70

0.96

-0.26

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.68

0.69

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.58

0.57

0.00

Drawdowns

S600.L vs. IEVL.L - Drawdown Comparison

The maximum S600.L drawdown since its inception was -30.21%, smaller than the maximum IEVL.L drawdown of -34.82%. Use the drawdown chart below to compare losses from any high point for S600.L and IEVL.L.

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Drawdown Indicators

S600.LIEVL.LDifference

Max Drawdown

Largest peak-to-trough decline

-30.21%

-34.82%

+4.61%

Max Drawdown (1Y)

Largest decline over 1 year

-10.47%

-10.59%

+0.12%

Max Drawdown (3Y)

Largest decline over 3 years

-12.53%

-16.33%

+3.80%

Max Drawdown (5Y)

Largest decline over 5 years

-17.04%

-16.48%

-0.56%

Max Drawdown (10Y)

Largest decline over 10 years

-30.21%

-34.82%

+4.61%

Current Drawdown

Current decline from peak

-1.22%

-0.87%

-0.35%

Average Drawdown

Average peak-to-trough decline

-4.30%

-6.05%

+1.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.90%

2.86%

+0.04%

Volatility

S600.L vs. IEVL.L - Volatility Comparison

The current volatility for Invesco STOXX Europe 600 UCITS ETF (S600.L) is 4.05%, while iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.L) has a volatility of 4.85%. This indicates that S600.L experiences smaller price fluctuations and is considered to be less risky than IEVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

S600.LIEVL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.05%

4.85%

-0.80%

Volatility (6M)

Calculated over the trailing 6-month period

10.11%

11.06%

-0.95%

Volatility (1Y)

Calculated over the trailing 1-year period

12.08%

13.52%

-1.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.90%

15.24%

-1.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.86%

17.13%

-2.27%

S600.L vs. IEVL.L - Expense Ratio Comparison

S600.L has a 0.19% expense ratio, which is lower than IEVL.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

S600.L vs. IEVL.L - Dividend Comparison

Neither S600.L nor IEVL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.91, S600.L and IEVL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, S600.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

S600.L is cheaper with a 0.19% expense ratio, compared with 0.25% for IEVL.L.

S600.L tracks MSCI Europe NR EUR, while IEVL.L tracks MSCI Europe Enhanced Value Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for S600.L and 0.25% for IEVL.L.

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