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UB12.L vs. IEVL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UB12.L vs. IEVL.L

Last updated Jun 5, 2026

UB12.L (UBS ETF (LU) MSCI Europe UCITS ETF (EUR) A-dis) and IEVL.L (iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating) are both Europe Equities funds - UB12.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, UB12.L returned 10.20%/yr vs 11.78%/yr for IEVL.L. Their correlation of 0.88 suggests significant overlap in exposure. UB12.L charges 0.20%/yr vs 0.25%/yr for IEVL.L.

Performance

UB12.L vs. IEVL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) MSCI Europe UCITS ETF (EUR) A-dis (UB12.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

UB12.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, UB12.L achieves a 6.75% return, which is significantly lower than IEVL.L's 13.11% return. Over the past 10 years, UB12.L has underperformed IEVL.L with an annualized return of 10.20%, while IEVL.L has yielded a comparatively higher 11.78% annualized return.

UB12.L

1D
0.45%
1M
3.53%
YTD
6.75%
6M
8.80%
1Y
19.32%
3Y*
13.86%
5Y*
10.14%
10Y*
10.20%

IEVL.L

1D
0.17%
1M
4.83%
YTD
13.11%
6M
15.93%
1Y
36.39%
3Y*
21.80%
5Y*
14.64%
10Y*
11.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UB12.L vs. IEVL.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UB12.L
UBS ETF (LU) MSCI Europe UCITS ETF (EUR) A-dis		6.75%25.97%3.91%13.08%-3.54%16.84%2.37%19.34%-9.57%15.00%
IEVL.L
iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating		13.11%42.23%5.56%11.28%1.19%19.17%-3.59%14.85%-12.63%15.13%

Correlation

The correlation between UB12.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

0.87

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

0.87

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

0.88

The correlation between UB12.L and IEVL.L has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

UB12.L vs. IEVL.L - Sectors Allocation Comparison

Sectors
UB12.L
IEVL.L

Financial Services

23.2%
22.6%

Industrials

19.6%
17.0%

Healthcare

12.9%
12.3%

Technology

9.4%
12.2%

Consumer Defensive

8.6%
8.6%

Consumer Cyclical

6.3%
6.2%

Basic Materials

5.6%
6.2%

Energy

5.0%
5.1%

Utilities

4.8%
4.5%

Communication Services

3.8%
3.7%

Real Estate

0.8%
0.6%

Financial Services

UB12.L
23.2%
IEVL.L
22.6%

Industrials

UB12.L
19.6%
IEVL.L
17.0%

Healthcare

UB12.L
12.9%
IEVL.L
12.3%

Technology

UB12.L
9.4%
IEVL.L
12.2%

Consumer Defensive

UB12.L
8.6%
IEVL.L
8.6%

Consumer Cyclical

UB12.L
6.3%
IEVL.L
6.2%

Basic Materials

UB12.L
5.6%
IEVL.L
6.2%

Energy

UB12.L
5.0%
IEVL.L
5.1%

Utilities

UB12.L
4.8%
IEVL.L
4.5%

Communication Services

UB12.L
3.8%
IEVL.L
3.7%

Real Estate

UB12.L
0.8%
IEVL.L
0.6%

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UBS ETF (LU) MSCI Europe UCITS ETF (EUR) A-dis

iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating

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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

UB12.L vs. IEVL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UB12.L
UB12.L Risk / Return Rank: 4343
Overall Rank
UB12.L Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
UB12.L Sortino Ratio Rank: 4545
Sortino Ratio Rank
UB12.L Omega Ratio Rank: 4848
Omega Ratio Rank
UB12.L Calmar Ratio Rank: 3737
Calmar Ratio Rank
UB12.L Martin Ratio Rank: 4141
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.

UB12.L vs. IEVL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI Europe UCITS ETF (EUR) A-dis (UB12.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.

UB12.LIEVL.LDifference
Sharpe ratioReturn per unit of total volatility
1.59
2.68

-1.09

Sortino ratioReturn per unit of downside risk
2.23
3.61

-1.38

Omega ratioGain probability vs. loss probability

1.30

1.48

-0.18

Calmar ratioReturn relative to maximum drawdown

1.80

3.42

-1.62

Martin ratioReturn relative to average drawdown

6.36

12.70

-6.34

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

UB12.L vs. IEVL.L - Sharpe Ratio Comparison

The current UB12.L Sharpe Ratio is 1.59, which is lower than the IEVL.L Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of UB12.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

UB12.LIEVL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.59

2.68

-1.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.96

-0.22

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

0.69

0.00

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.58

+0.01

Drawdowns

UB12.L vs. IEVL.L - Drawdown Comparison

The maximum UB12.L drawdown since its inception was -28.66%, smaller than the maximum IEVL.L drawdown of -34.82%. Use the drawdown chart below to compare losses from any high point for UB12.L and IEVL.L.

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Drawdown Indicators

UB12.LIEVL.LDifference

Max Drawdown

Largest peak-to-trough decline

-28.66%

-34.82%

+6.16%

Max Drawdown (1Y)

Largest decline over 1 year

-10.68%

-10.59%

-0.09%

Max Drawdown (3Y)

Largest decline over 3 years

-12.68%

-16.33%

+3.65%

Max Drawdown (5Y)

Largest decline over 5 years

-15.68%

-16.48%

+0.80%

Max Drawdown (10Y)

Largest decline over 10 years

-28.66%

-34.82%

+6.16%

Current Drawdown

Current decline from peak

-1.52%

-0.82%

-0.70%

Average Drawdown

Average peak-to-trough decline

-4.19%

-6.05%

+1.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.03%

2.86%

+0.17%

Volatility

UB12.L vs. IEVL.L - Volatility Comparison

The current volatility for UBS ETF (LU) MSCI Europe UCITS ETF (EUR) A-dis (UB12.L) is 3.88%, while iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.L) has a volatility of 4.85%. This indicates that UB12.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

UB12.LIEVL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.88%

4.85%

-0.97%

Volatility (6M)

Calculated over the trailing 6-month period

10.18%

11.06%

-0.88%

Volatility (1Y)

Calculated over the trailing 1-year period

12.11%

13.52%

-1.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.69%

15.24%

-1.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.87%

17.13%

-2.26%

UB12.L vs. IEVL.L - Expense Ratio Comparison

UB12.L has a 0.20% 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

UB12.L vs. IEVL.L - Dividend Comparison

UB12.L's dividend yield for the trailing twelve months is around 3.18%, while IEVL.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
IEVL.L
iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
UB12.L
UBS ETF (LU) MSCI Europe UCITS ETF (EUR) A-dis		3.18%2.45%2.75%2.73%2.73%2.08%2.03%3.07%3.33%2.90%3.73%3.17%

Frequently Asked Questions

With a correlation of 0.91, UB12.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, UB12.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

UB12.L is cheaper with a 0.20% expense ratio, compared with 0.25% for IEVL.L.

UB12.L tracks MSCI Europe NR EUR, while IEVL.L tracks MSCI Europe Enhanced Value Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.20% for UB12.L and 0.25% for IEVL.L.

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