SX5S.L vs. MVEU.L

Last updated Jun 25, 2026

SX5S.L (Invesco EURO STOXX 50 UCITS ETF) and MVEU.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)) are both Europe Equities funds - SX5S.L tracks the MSCI EMU NR EUR while MVEU.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, SX5S.L returned 12.06%/yr vs 7.98%/yr for MVEU.L. A 0.76 correlation means they provide meaningful diversification when combined. SX5S.L charges 0.05%/yr vs 0.25%/yr for MVEU.L.

Performance

SX5S.L vs. MVEU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco EURO STOXX 50 UCITS ETF (SX5S.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SX5S.L is traded in GBp, while MVEU.L is traded in EUR. To make them comparable, the MVEU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, SX5S.L achieves a 8.35% return, which is significantly higher than MVEU.L's 5.99% return. Over the past 10 years, SX5S.L has outperformed MVEU.L with an annualized return of 12.06%, while MVEU.L has yielded a comparatively lower 7.98% annualized return.

SX5S.L

• 1D: -0.43%
• 1M: 3.04%
• YTD: 8.35%
• 6M: 8.91%
• 1Y: 21.42%
• 3Y*: 16.68%
• 5Y*: 11.69%
• 10Y*: 12.06%

MVEU.L

• 1D: 0.50%
• 1M: -0.08%
• YTD: 5.99%
• 6M: 6.28%
• 1Y: 10.48%
• 3Y*: 11.60%
• 5Y*: 7.13%
• 10Y*: 7.98%

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

SX5S.L vs. MVEU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SX5S.L Invesco EURO STOXX 50 UCITS ETF	8.35%	27.68%	6.13%	19.91%	-3.54%	15.06%	3.00%	21.67%	-10.62%	14.35%
MVEU.L iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc)	5.99%	17.63%	6.71%	8.45%	-8.16%	14.46%	1.57%	15.47%	-2.87%	14.16%

Correlation

The correlation between SX5S.L and MVEU.L is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jun 30, 2014	0.76

Over the past year, the correlation between SX5S.L and MVEU.L has dropped to 0.54 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.

SX5S.L vs. MVEU.L - Sectors Allocation Comparison

Sectors	SX5S.L	MVEU.L
Financial Services	25.1%	17.6%
Industrials	22.1%	15.6%
Technology	16.1%	3.4%
Consumer Cyclical	9.8%	3.6%
Consumer Defensive	5.5%	14.1%
Healthcare	5.4%	12.3%
Energy	5.2%	6.9%
Utilities	4.8%	10.1%
Basic Materials	3.7%	5.1%
Communication Services	2.3%	9.0%
Real Estate	-	1.5%

Return for Risk

SX5S.L vs. MVEU.L — Risk / Return Rank

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

SX5S.L

SX5S.L Risk / Return Rank: 44
SX5S.L Sharpe Ratio Rank: 45
SX5S.L Sortino Ratio Rank: 46
SX5S.L Omega Ratio Rank: 45
SX5S.L Calmar Ratio Rank: 42
SX5S.L Martin Ratio Rank: 43

MVEU.L

MVEU.L Risk / Return Rank: 31
MVEU.L Sharpe Ratio Rank: 33
MVEU.L Sortino Ratio Rank: 31
MVEU.L Omega Ratio Rank: 31
MVEU.L Calmar Ratio Rank: 30
MVEU.L Martin Ratio Rank: 32

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.

SX5S.L vs. MVEU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco EURO STOXX 50 UCITS ETF (SX5S.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.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.

	SX5S.L	MVEU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.17	+0.24
Sortino ratio: Return per unit of downside risk	2.08	1.63	+0.44
Omega ratio: Gain probability vs. loss probability	1.26	1.21	+0.05
Calmar ratio: Return relative to maximum drawdown	1.87	1.25	+0.61
Martin ratio: Return relative to average drawdown	6.25	3.71	+2.53

SX5S.L vs. MVEU.L - Sharpe Ratio Comparison

The current SX5S.L Sharpe Ratio is 1.41, which is comparable to the MVEU.L Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of SX5S.L and MVEU.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

SX5S.L vs. MVEU.L - Drawdown Comparison

The maximum SX5S.L drawdown since its inception was -32.54%, which is greater than MVEU.L's maximum drawdown of -23.74%. Use the drawdown chart below to compare losses from any high point for SX5S.L and MVEU.L.

Drawdown Indicators

	SX5S.L	MVEU.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.54%	-23.74%	-8.80%
Max Drawdown (1Y) Largest decline over 1 year	-11.43%	-8.32%	-3.11%
Max Drawdown (3Y) Largest decline over 3 years	-13.85%	-8.32%	-5.53%
Max Drawdown (5Y) Largest decline over 5 years	-21.71%	-17.42%	-4.29%
Max Drawdown (10Y) Largest decline over 10 years	-32.54%	-23.74%	-8.80%
Current Drawdown Current decline from peak	-2.59%	-3.45%	+0.86%
Average Drawdown Average peak-to-trough decline	-5.47%	-3.52%	-1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	2.82%	+0.60%

Volatility

SX5S.L vs. MVEU.L - Volatility Comparison

Invesco EURO STOXX 50 UCITS ETF (SX5S.L) has a higher volatility of 3.76% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Acc) (MVEU.L) at 1.88%. This indicates that SX5S.L's price experiences larger fluctuations and is considered to be riskier than MVEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SX5S.L	MVEU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	1.88%	+1.88%
Volatility (6M) Calculated over the trailing 6-month period	12.51%	7.31%	+5.20%
Volatility (1Y) Calculated over the trailing 1-year period	15.19%	8.92%	+6.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.20%	11.28%	+5.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.83%	12.62%	+5.21%

SX5S.L vs. MVEU.L - Expense Ratio Comparison

SX5S.L has a 0.05% expense ratio, which is lower than MVEU.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

SX5S.L vs. MVEU.L - Dividend Comparison

Neither SX5S.L nor MVEU.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SX5S.L and MVEU.L in my portfolio?

SX5S.L and MVEU.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SX5S.L or MVEU.L?

On fees, SX5S.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, SX5S.L or MVEU.L?

SX5S.L is cheaper with a 0.05% expense ratio, compared with 0.25% for MVEU.L.

What is the main difference between SX5S.L and MVEU.L?

SX5S.L tracks MSCI EMU NR EUR, while MVEU.L tracks MSCI Europe NR EUR. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.05% for SX5S.L and 0.25% for MVEU.L.