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VERX.L vs. MVED.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VERX.L vs. MVED.L

Last updated Jun 5, 2026

VERX.L (Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing) and MVED.L (iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)) are both Europe Equities funds - VERX.L tracks the MSCI Europe Ex UK NR EUR while MVED.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, VERX.L returned 9.51%/yr vs 6.21%/yr for MVED.L. Their correlation of 0.82 suggests significant overlap in exposure. VERX.L charges 0.10%/yr vs 0.25%/yr for MVED.L.

Performance

VERX.L vs. MVED.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing (VERX.L) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist) (MVED.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VERX.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, VERX.L achieves a 6.84% return, which is significantly higher than MVED.L's 3.88% return.

VERX.L

1D
0.91%
1M
4.05%
YTD
6.84%
6M
9.25%
1Y
19.19%
3Y*
13.86%
5Y*
9.51%
10Y*
10.76%

MVED.L

1D
0.45%
1M
0.80%
YTD
3.88%
6M
4.77%
1Y
5.26%
3Y*
8.28%
5Y*
6.21%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VERX.L vs. MVED.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
VERX.L
Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing		6.84%26.34%2.68%15.20%-7.06%16.14%8.53%20.48%-8.23%
MVED.L
iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)		3.88%14.60%3.94%8.51%-8.08%14.30%1.58%15.71%0.07%

Correlation

The correlation between VERX.L and MVED.L is 0.64, 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

0.64

Correlation (3Y)
Calculated over the trailing 3-year period

0.71

Correlation (5Y)
Calculated over the trailing 5-year period

0.78

Correlation (All Time)
Calculated using the full available price history since Mar 1, 2018

0.82

The correlation between VERX.L and MVED.L shifts across timeframes, from 0.64 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.

VERX.L vs. MVED.L - Sectors Allocation Comparison

Sectors
VERX.L
MVED.L

Financial Services

23.9%
17.8%

Industrials

21.4%
15.7%

Healthcare

12.7%
13.1%

Technology

10.9%
2.8%

Consumer Cyclical

7.3%
3.7%

Consumer Defensive

6.6%
13.2%

Utilities

4.9%
10.1%

Basic Materials

4.6%
5.7%

Energy

3.4%
6.9%

Communication Services

3.1%
9.5%

Real Estate

1.2%
1.6%

Financial Services

VERX.L
23.9%
MVED.L
17.8%

Industrials

VERX.L
21.4%
MVED.L
15.7%

Healthcare

VERX.L
12.7%
MVED.L
13.1%

Technology

VERX.L
10.9%
MVED.L
2.8%

Consumer Cyclical

VERX.L
7.3%
MVED.L
3.7%

Consumer Defensive

VERX.L
6.6%
MVED.L
13.2%

Utilities

VERX.L
4.9%
MVED.L
10.1%

Basic Materials

VERX.L
4.6%
MVED.L
5.7%

Energy

VERX.L
3.4%
MVED.L
6.9%

Communication Services

VERX.L
3.1%
MVED.L
9.5%

Real Estate

VERX.L
1.2%
MVED.L
1.6%

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Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing

iShares Edge MSCI Europe Minimum Volatility UCITS ETF EUR (Dist)

Often compared with VERX.L:
VERX.L vs. IEUX.LVERX.L vs. CEUG.LVERX.L vs. XUEK.LVERX.L vs. VUAA.LVERX.L vs. IQQY.DEVERX.L vs. JPMVERX.L vs. VUAG.L
Often compared with MVED.L:
MVED.L vs. MIVO.LMVED.L vs. CSPX.LMVED.L vs. PRUK.LMVED.L vs. WDEP.LMVED.L vs. OPEN.LMVED.L vs. EDIV.LMVED.L vs. FKU.L

Return for Risk

VERX.L vs. MVED.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VERX.L
VERX.L Risk / Return Rank: 4040
Overall Rank
VERX.L Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
VERX.L Sortino Ratio Rank: 4242
Sortino Ratio Rank
VERX.L Omega Ratio Rank: 4444
Omega Ratio Rank
VERX.L Calmar Ratio Rank: 3535
Calmar Ratio Rank
VERX.L Martin Ratio Rank: 3939
Martin Ratio Rank
MVED.L
MVED.L Risk / Return Rank: 1313
Overall Rank
MVED.L Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
MVED.L Sortino Ratio Rank: 1212
Sortino Ratio Rank
MVED.L Omega Ratio Rank: 1313
Omega Ratio Rank
MVED.L Calmar Ratio Rank: 1313
Calmar Ratio Rank
MVED.L Martin Ratio Rank: 1313
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.

VERX.L vs. MVED.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing (VERX.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.

VERX.LMVED.LDifference
Sharpe ratioReturn per unit of total volatility
1.46
0.57

+0.89

Sortino ratioReturn per unit of downside risk
2.11
0.83

+1.28

Omega ratioGain probability vs. loss probability

1.28

1.11

+0.17

Calmar ratioReturn relative to maximum drawdown

1.70

0.63

+1.06

Martin ratioReturn relative to average drawdown

6.07

1.79

+4.29

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

VERX.L vs. MVED.L - Sharpe Ratio Comparison

The current VERX.L Sharpe Ratio is 1.46, which is higher than the MVED.L Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of VERX.L and MVED.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

VERX.LMVED.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.46

0.57

+0.89

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.64

0.55

+0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.62

0.49

+0.13

Drawdowns

VERX.L vs. MVED.L - Drawdown Comparison

The maximum VERX.L drawdown since its inception was -27.64%, which is greater than MVED.L's maximum drawdown of -24.31%. Use the drawdown chart below to compare losses from any high point for VERX.L and MVED.L.

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Drawdown Indicators

VERX.LMVED.LDifference

Max Drawdown

Largest peak-to-trough decline

-27.64%

-24.31%

-3.33%

Max Drawdown (1Y)

Largest decline over 1 year

-11.26%

-8.28%

-2.98%

Max Drawdown (3Y)

Largest decline over 3 years

-13.27%

-8.28%

-4.99%

Max Drawdown (5Y)

Largest decline over 5 years

-20.31%

-17.36%

-2.95%

Max Drawdown (10Y)

Largest decline over 10 years

-27.64%

—

—

Current Drawdown

Current decline from peak

-0.55%

-5.32%

+4.77%

Average Drawdown

Average peak-to-trough decline

-4.58%

-4.10%

-0.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.15%

2.94%

+0.21%

Volatility

VERX.L vs. MVED.L - Volatility Comparison

Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing (VERX.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 VERX.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

VERX.LMVED.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.13%

2.98%

+1.15%

Volatility (6M)

Calculated over the trailing 6-month period

10.83%

7.68%

+3.15%

Volatility (1Y)

Calculated over the trailing 1-year period

13.09%

9.18%

+3.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.79%

11.29%

+3.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.57%

12.95%

+2.62%

VERX.L vs. MVED.L - Expense Ratio Comparison

VERX.L has a 0.10% 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

VERX.L vs. MVED.L - Dividend Comparison

VERX.L's dividend yield for the trailing twelve months is around 2.46%, while MVED.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%0.00%
VERX.L
Vanguard FTSE Developed Europe ex UK UCITS ETF Distributing		2.46%2.62%2.94%2.72%2.92%2.33%1.97%2.95%3.14%2.68%2.64%2.56%

Frequently Asked Questions

VERX.L and MVED.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VERX.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VERX.L is cheaper with a 0.10% expense ratio, compared with 0.25% for MVED.L.

VERX.L tracks MSCI Europe Ex UK NR EUR, while MVED.L tracks MSCI Europe NR EUR. They also come from different issuers: Vanguard and BlackRock. Their fees differ too: 0.10% for VERX.L and 0.25% for MVED.L.

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