UB03.L vs. MIVO.L
UB03.L (UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis) and MIVO.L (Amundi MSCI Europe Minimum Volatility UCITS) are both Europe Equities funds - UB03.L tracks the FTSE AllSh TR GBP while MIVO.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, UB03.L returned 8.91%/yr vs 7.53%/yr for MIVO.L. At a 0.41 correlation, their price movements are largely independent. UB03.L charges 0.20%/yr vs 0.13%/yr for MIVO.L.
Performance
UB03.L vs. MIVO.L - Performance Comparison
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Returns By Period
In the year-to-date period, UB03.L achieves a 5.64% return, which is significantly higher than MIVO.L's 4.24% return. Over the past 10 years, UB03.L has outperformed MIVO.L with an annualized return of 8.91%, while MIVO.L has yielded a comparatively lower 7.53% annualized return.
UB03.L
- 1D
- 0.29%
- 1M
- 1.62%
- YTD
- 5.64%
- 6M
- 8.14%
- 1Y
- 20.72%
- 3Y*
- 15.41%
- 5Y*
- 11.59%
- 10Y*
- 8.91%
MIVO.L
- 1D
- 0.44%
- 1M
- 0.62%
- YTD
- 4.24%
- 6M
- 5.52%
- 1Y
- 7.85%
- 3Y*
- 10.28%
- 5Y*
- 7.34%
- 10Y*
- 7.53%
UB03.L vs. MIVO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UB03.L UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis | 5.64% | 26.20% | 9.58% | 8.35% | 3.14% | 16.12% | -10.39% | 17.37% | -7.12% | 9.91% |
MIVO.L Amundi MSCI Europe Minimum Volatility UCITS | 4.24% | 17.54% | 6.50% | 8.50% | -7.95% | 13.43% | 1.38% | 16.36% | -3.04% | 13.15% |
Correlation
The correlation between UB03.L and MIVO.L is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2012 | 0.41 |
Over the past year, UB03.L and MIVO.L have become more correlated (0.63) than their long-term average of 0.41, meaning their price movements have been converging.
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Return for Risk
UB03.L vs. MIVO.L — Risk / Return Rank
UB03.L
MIVO.L
UB03.L vs. MIVO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis (UB03.L) and Amundi MSCI Europe Minimum Volatility UCITS (MIVO.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.
| UB03.L | MIVO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.16 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 0.93 | +1.73 |
| Martin ratioReturn relative to average drawdown | 8.61 | 2.76 | +5.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UB03.L | MIVO.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 0.88 | +1.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.28 | 0.67 | +0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 0.62 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.74 | +0.09 |
Drawdowns
UB03.L vs. MIVO.L - Drawdown Comparison
The maximum UB03.L drawdown since its inception was -33.84%, which is greater than MIVO.L's maximum drawdown of -24.30%. Use the drawdown chart below to compare losses from any high point for UB03.L and MIVO.L.
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Drawdown Indicators
| UB03.L | MIVO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.84% | -24.30% | -9.54% |
Max Drawdown (1Y)Largest decline over 1 year | -9.09% | -8.38% | -0.71% |
Max Drawdown (3Y)Largest decline over 3 years | -12.11% | -8.38% | -3.73% |
Max Drawdown (5Y)Largest decline over 5 years | -12.11% | -17.54% | +5.43% |
Max Drawdown (10Y)Largest decline over 10 years | -33.84% | -24.30% | -9.54% |
Current DrawdownCurrent decline from peak | -4.00% | -4.95% | +0.95% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -3.61% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 2.84% | +0.27% |
Volatility
UB03.L vs. MIVO.L - Volatility Comparison
UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis (UB03.L) has a higher volatility of 4.06% compared to Amundi MSCI Europe Minimum Volatility UCITS (MIVO.L) at 2.77%. This indicates that UB03.L's price experiences larger fluctuations and is considered to be riskier than MIVO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UB03.L | MIVO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.06% | 2.77% | +1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 9.74% | 7.44% | +2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.08% | 8.91% | +3.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.53% | 10.94% | +6.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.97% | 12.25% | +8.72% |
UB03.L vs. MIVO.L - Expense Ratio Comparison
UB03.L has a 0.20% expense ratio, which is higher than MIVO.L's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
UB03.L vs. MIVO.L - Dividend Comparison
UB03.L's dividend yield for the trailing twelve months is around 2.71%, while MIVO.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIVO.L Amundi MSCI Europe Minimum Volatility UCITS | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UB03.L UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis | 2.71% | 2.92% | 3.75% | 3.63% | 3.69% | 3.10% | 3.72% | 4.13% | 4.21% | 3.30% | 3.61% | 4.14% |
Frequently Asked Questions
UB03.L and MIVO.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MIVO.L is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MIVO.L is cheaper with a 0.13% expense ratio, compared with 0.20% for UB03.L.
UB03.L tracks FTSE AllSh TR GBP, while MIVO.L tracks MSCI Europe NR EUR. They also come from different issuers: UBS and Amundi. Their fees differ too: 0.20% for UB03.L and 0.13% for MIVO.L.
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