V3EL.L vs. MVED.L
V3EL.L (Vanguard ESG Developed Europe All Cap UCITS ETF EUR Distributing) and MVED.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)) are both Europe Equities funds - V3EL.L tracks the FTSE Developed Europe All Cap Choice Index while MVED.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 3 years, V3EL.L returned 12.59%/yr vs 8.28%/yr for MVED.L. A 0.78 correlation means they provide meaningful diversification when combined. V3EL.L charges 0.12%/yr vs 0.25%/yr for MVED.L.
Performance
V3EL.L vs. MVED.L - Performance Comparison
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Different Trading Currencies
V3EL.L is traded in GBP, while MVED.L is traded in EUR. To make them comparable, the MVED.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, V3EL.L achieves a 4.68% return, which is significantly higher than MVED.L's 3.88% return.
V3EL.L
- 1D
- 0.76%
- 1M
- 4.49%
- YTD
- 4.68%
- 6M
- 7.25%
- 1Y
- 15.45%
- 3Y*
- 12.59%
- 5Y*
- —
- 10Y*
- —
MVED.L
- 1D
- 0.45%
- 1M
- 0.80%
- YTD
- 3.88%
- 6M
- 4.77%
- 1Y
- 5.26%
- 3Y*
- 8.28%
- 5Y*
- 6.21%
- 10Y*
- —
V3EL.L vs. MVED.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
V3EL.L Vanguard ESG Developed Europe All Cap UCITS ETF EUR Distributing | 4.68% | 23.27% | 4.39% | 13.76% | 0.75% |
MVED.L iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) | 3.88% | 14.60% | 3.94% | 8.51% | -1.21% |
Correlation
The correlation between V3EL.L and MVED.L is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2022 | 0.78 |
The correlation between V3EL.L and MVED.L has been stable across timeframes, ranging from 0.69 to 0.78 - a consistent structural relationship.
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Return for Risk
V3EL.L vs. MVED.L — Risk / Return Rank
V3EL.L
MVED.L
V3EL.L vs. MVED.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG Developed Europe All Cap UCITS ETF EUR Distributing (V3EL.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.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.
| V3EL.L | MVED.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.11 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 0.63 | +0.70 |
| Martin ratioReturn relative to average drawdown | 4.64 | 1.79 | +2.86 |
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
| V3EL.L | MVED.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 0.57 | +0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.92 | 0.49 | +0.43 |
Drawdowns
V3EL.L vs. MVED.L - Drawdown Comparison
The maximum V3EL.L drawdown since its inception was -12.74%, smaller than the maximum MVED.L drawdown of -24.31%. Use the drawdown chart below to compare losses from any high point for V3EL.L and MVED.L.
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Drawdown Indicators
| V3EL.L | MVED.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.74% | -24.31% | +11.57% |
Max Drawdown (1Y)Largest decline over 1 year | -11.57% | -8.28% | -3.29% |
Max Drawdown (3Y)Largest decline over 3 years | -12.74% | -8.28% | -4.46% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.36% | — |
Current DrawdownCurrent decline from peak | -1.31% | -5.32% | +4.01% |
Average DrawdownAverage peak-to-trough decline | -2.48% | -4.10% | +1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.32% | 2.94% | +0.38% |
Volatility
V3EL.L vs. MVED.L - Volatility Comparison
Vanguard ESG Developed Europe All Cap UCITS ETF EUR Distributing (V3EL.L) has a higher volatility of 4.13% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.L) at 2.98%. This indicates that V3EL.L's price experiences larger fluctuations and is considered to be riskier than MVED.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| V3EL.L | MVED.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.13% | 2.98% | +1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 10.80% | 7.68% | +3.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.86% | 9.18% | +3.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.16% | 11.29% | +1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.16% | 12.95% | +0.21% |
V3EL.L vs. MVED.L - Expense Ratio Comparison
V3EL.L has a 0.12% expense ratio, which is lower than MVED.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
V3EL.L vs. MVED.L - Dividend Comparison
V3EL.L's dividend yield for the trailing twelve months is around 2.52%, while MVED.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MVED.L iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) | 0.00% | 0.00% | 0.00% | 2.67% | 2.95% | 2.16% | 2.54% | 2.81% | 2.50% |
V3EL.L Vanguard ESG Developed Europe All Cap UCITS ETF EUR Distributing | 2.52% | 2.63% | 2.87% | 2.61% | 0.37% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
V3EL.L and MVED.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, V3EL.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
V3EL.L is cheaper with a 0.12% expense ratio, compared with 0.25% for MVED.L.
V3EL.L tracks FTSE Developed Europe All Cap Choice Index, while MVED.L tracks MSCI Europe NR EUR. They also come from different issuers: Vanguard and BlackRock. Their fees differ too: 0.12% for V3EL.L and 0.25% for MVED.L.
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