UTIL.L vs. IEVL.L

Last updated Jun 4, 2026

UTIL.L (SPDR MSCI Europe Utilities UCITS ETF) and IEVL.L (iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating) are both exchange-traded funds - UTIL.L is a Utilities Equities fund tracking the MSCI World/Utilities NR USD, while IEVL.L is a Europe Equities fund tracking the MSCI Europe Enhanced Value Index. Both are passively managed. Over the past 10 years, UTIL.L returned 10.77%/yr vs 10.76%/yr for IEVL.L. A 0.55 correlation means they provide meaningful diversification when combined. UTIL.L charges 0.18%/yr vs 0.25%/yr for IEVL.L.

Performance

UTIL.L vs. IEVL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe Utilities UCITS ETF (UTIL.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.

Returns By Period

In the year-to-date period, UTIL.L achieves a 13.22% return, which is significantly lower than IEVL.L's 13.90% return. Both investments have delivered pretty close results over the past 10 years, with UTIL.L having a 10.77% annualized return and IEVL.L not far behind at 10.76%.

UTIL.L

• 1D: 0.94%
• 1M: -4.47%
• YTD: 13.22%
• 6M: 13.96%
• 1Y: 27.26%
• 3Y*: 16.68%
• 5Y*: 11.88%
• 10Y*: 10.77%

IEVL.L

• 1D: -0.56%
• 1M: 3.91%
• YTD: 13.90%
• 6M: 17.99%
• 1Y: 32.88%
• 3Y*: 21.45%
• 5Y*: 14.47%
• 10Y*: 10.76%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UTIL.L SPDR MSCI Europe Utilities UCITS ETF	13.22%	33.98%	1.33%	13.09%	-6.77%	8.27%	11.82%	29.32%	3.35%	9.30%
IEVL.L iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating	13.90%	35.00%	10.59%	13.55%	-3.79%	26.68%	-8.75%	21.75%	-13.48%	10.41%

Correlation

The correlation between UTIL.L and IEVL.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 20, 2015	0.55

The correlation between UTIL.L and IEVL.L shifts across timeframes, from 0.38 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

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

Sectors	UTIL.L	IEVL.L
Utilities	95.4%	4.5%
Industrials	4.6%	17.0%
Basic Materials	-	6.2%
Communication Services	-	3.7%
Consumer Cyclical	-	6.2%
Consumer Defensive	-	8.6%
Energy	-	5.1%
Financial Services	-	22.6%
Healthcare	-	12.3%
Real Estate	-	0.6%
Technology	-	12.2%

Return for Risk

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

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

UTIL.L

UTIL.L Risk / Return Rank: 58
UTIL.L Sharpe Ratio Rank: 54
UTIL.L Sortino Ratio Rank: 49
UTIL.L Omega Ratio Rank: 53
UTIL.L Calmar Ratio Rank: 74
UTIL.L Martin Ratio Rank: 59

IEVL.L

IEVL.L Risk / Return Rank: 70
IEVL.L Sharpe Ratio Rank: 73
IEVL.L Sortino Ratio Rank: 72
IEVL.L Omega Ratio Rank: 72
IEVL.L Calmar Ratio Rank: 67
IEVL.L Martin Ratio Rank: 67

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.

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

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Utilities UCITS ETF (UTIL.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.

	UTIL.L	IEVL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.39	-0.56
Sortino ratio: Return per unit of downside risk	2.39	3.26	-0.87
Omega ratio: Gain probability vs. loss probability	1.33	1.43	-0.10
Calmar ratio: Return relative to maximum drawdown	3.72	3.35	+0.37
Martin ratio: Return relative to average drawdown	10.55	12.49	-1.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current UTIL.L Sharpe Ratio is 1.83, which is comparable to the IEVL.L Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of UTIL.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.

Sharpe Ratios by Period

	UTIL.L	IEVL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	2.39	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.94	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.61	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.49	+0.02

Drawdowns

UTIL.L vs. IEVL.L - Drawdown Comparison

The maximum UTIL.L drawdown since its inception was -34.59%, smaller than the maximum IEVL.L drawdown of -40.09%. Use the drawdown chart below to compare losses from any high point for UTIL.L and IEVL.L.

Drawdown Indicators

	UTIL.L	IEVL.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.59%	-40.09%	+5.50%
Max Drawdown (1Y) Largest decline over 1 year	-7.30%	-9.78%	+2.48%
Max Drawdown (3Y) Largest decline over 3 years	-13.48%	-17.49%	+4.01%
Max Drawdown (5Y) Largest decline over 5 years	-22.12%	-19.55%	-2.57%
Max Drawdown (10Y) Largest decline over 10 years	-34.59%	-40.09%	+5.50%
Current Drawdown Current decline from peak	-4.93%	-0.82%	-4.11%
Average Drawdown Average peak-to-trough decline	-5.98%	-7.51%	+1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.63%	-0.05%

Volatility

UTIL.L vs. IEVL.L - Volatility Comparison

SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) has a higher volatility of 6.02% compared to iShares Edge MSCI Europe Value Factor UCITS ETF EUR Accumulating (IEVL.L) at 4.92%. This indicates that UTIL.L's price experiences larger fluctuations and is considered to be riskier than IEVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTIL.L	IEVL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.02%	4.92%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	12.91%	10.95%	+1.96%
Volatility (1Y) Calculated over the trailing 1-year period	14.81%	13.70%	+1.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.22%	15.36%	+0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.71%	17.67%	+0.04%

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

UTIL.L has a 0.18% 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

UTIL.L vs. IEVL.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UTIL.L and IEVL.L in my portfolio?

UTIL.L and IEVL.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UTIL.L or IEVL.L?

On fees, UTIL.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UTIL.L or IEVL.L?

UTIL.L is cheaper with a 0.18% expense ratio, compared with 0.25% for IEVL.L.

What is the main difference between UTIL.L and IEVL.L?

UTIL.L is categorized as Utilities Equities, while IEVL.L is Europe Equities. UTIL.L tracks MSCI World/Utilities NR USD, while IEVL.L tracks MSCI Europe Enhanced Value Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for UTIL.L and 0.25% for IEVL.L.