# Amundi MSCI Europe Minimum Volatility Factor (MIVO) **Page:** https://fundology.uk/fund/mivo · ISIN LU1681041627 ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 13/11/2026, MIVO (Amundi MSCI Europe Minimum Volatility Factor, ISIN LU1681041627) closed at £152.77 on the London Stock Exchange. Its ongoing charge is 0.23% a year (about £23 on £10,000). Over the five years to 13/11/2026 its total return was +41.2%, or +10.2% after UK CPIH inflation. ## Summary Amundi MSCI Europe Minimum Volatility Factor is an exchange-traded fund (ETF) from Amundi, launched in 2009. It tracks the MSCI Europe Minimum Volatility (EUR) — large and medium-sized European companies. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.23% a year — about £23 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. Latest close: **£152.77** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | MIVO | | ISIN | LU1681041627 | | Also listed as | MIVA (Xetra, euros) | | Category | European shares | | Type | ETF | | Provider | Amundi | | Tracks | MSCI Europe Minimum Volatility (EUR) | | Income | Accumulating | | Ongoing charge | 0.23% a year (£23 per £10,000) | | Fund size | £73.3m | | Launched | 2009 | | Domicile | Luxembourg | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 18/04/2018 | ## Past returns (periods to 13/11/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +11.08% | +7.15% | income reinvested | | 3 years | +45.61% | +31.55% | income reinvested | | 5 years | +41.20% | +10.21% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Amundi MSCI Europe Minimum Volatility Factor in pounds (price, with income reinvested in the fund): 2022 −7.9%, 2023 +8.5%, 2024 +7.1%, 2025 +16.7%; 2026 to 13/11/2026 +13.4%. Returns of Amundi MSCI Europe Minimum Volatility Factor in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +7.0%; to 30/09/2025: +11.6%; to 30/09/2024: +14.8%; to 30/09/2023: +11.7%; to 30/09/2022: −8.4%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -7.9% | -15.7% | Price | | 2023 | +8.5% | +4.2% | Price | | 2024 | +7.1% | +3.5% | Price | | 2025 | +16.7% | +12.7% | Price | | 2026 to 13/11/2026 | +13.4% | +9.7% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 11.29% | -7.55% | | 3 years | 9.19% | -7.55% | | 5 years | 10.80% | -15.50% | ## Largest fall Volatility of Amundi MSCI Europe Minimum Volatility Factor in pounds, annualised from weekly returns to 13/11/2026: 11.3% over 1 year, 9.2% over 3 years, 10.8% over 5 years. Largest fall in the price of Amundi MSCI Europe Minimum Volatility Factor since November 2021, in pounds: −15.5% from 31/12/2021 to 14/10/2022. The lowest 12-month return of Amundi MSCI Europe Minimum Volatility Factor in pounds (price, with income reinvested in the fund) since January 2021 was −10.9% (12 months to 21/10/2022); the highest was +19.5% (12 months to 27/02/2026). On 13/11/2026 the price of Amundi MSCI Europe Minimum Volatility Factor was at its highest weekly close since November 2021, in pounds. ## Charges compared with similar funds Ongoing charge of Amundi MSCI Europe Minimum Volatility Factor 0.23% a year. Compared on 14/11/2026, 115 of the 242 other European share funds charge more, 6 the same and 121 less (share classes counted once). ## Funds tracking the same index 3 funds track MSCI Europe Minimum Volatility (EUR), this one included and share classes counted once; their ongoing charges range from 0.23% to 0.25% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Amundi MSCI Europe Minimum Volatility Factor (this fund) | 0.23% | +11.1% | +45.6% | +41.2% | | iShares Edge MSCI Europe Minimum Volatility UCITS ETF | 0.25% | +11.3% | +46.1% | +41.8% | | iShares Edge MSCI Europe Minimum Volatility UCITS ETF Dist | 0.25% | +11.2% | +46.1% | +42.0% | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.23%** per year (as of 13/11/2026) - Stocks and shares ISA eligible: usually (check with your platform) - SIPP eligible: usually (check with your provider) - ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify. ## What it holds MIVO is a swap-based (synthetic) fund: it gets the return of the index it tracks through a swap. Its published holdings, as of 11/11/2026, are the substitute basket of securities the fund holds as collateral, not the companies in that index. ### Top holdings Largest positions (as of 11/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Aegon | [AGN](https://fundology.uk/stock/AGN) | 8.65% | | 2 | TotalEnergies | [TTE](https://fundology.uk/stock/TTE) | 7.72% | | 3 | Societe Generale | [GLE](https://fundology.uk/stock/GLE) | 6.61% | | 4 | Orange | [ORA](https://fundology.uk/stock/ORA) | 6.59% | | 5 | Sanofi | [SAN](https://fundology.uk/stock/EURONEXT:SAN) | 5.10% | | 6 | Alphabet · Class A | [GOOGL](https://fundology.uk/stock/GOOGL) | 4.49% | | 7 | DTE Energy | [DTE](https://fundology.uk/stock/NYSE:DTE) | 4.48% | | 8 | Qiagen | [QGEN](https://fundology.uk/stock/QGEN) | 4.38% | | 9 | AbbVie | [ABBV](https://fundology.uk/stock/ABBV) | 4.32% | | 10 | Broadcom | [AVGO](https://fundology.uk/stock/AVGO) | 4.30% | The 31 holdings on record (of 33 reported): https://fundology.uk/fund/mivo/holdings ## Questions people ask **What is the ongoing charge of MIVO?** The ongoing charge of MIVO is 0.23% a year — about £23 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Amundi MSCI Europe Minimum Volatility Factor 0.23% a year. Compared on 14/11/2026, 115 of the 242 other European share funds charge more, 6 the same and 121 less (share classes counted once). **What does MIVO track?** MIVO tracks the MSCI Europe Minimum Volatility (EUR) — large and medium-sized European companies. **Is MIVO accumulating or distributing?** MIVO is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. **What is the ISIN of MIVO?** The ISIN of MIVO is LU1681041627. An ISIN identifies one exact share class of a fund; MIVO is its ticker on the London Stock Exchange. The same share class is also listed as MIVA (Xetra, euros). **What does MIVO hold?** MIVO is a swap-based (synthetic) fund: it gets the return of the index it tracks through a swap. Its published holdings, as of 11/11/2026, are the substitute basket of securities the fund holds as collateral, not the companies in that index. **What were MIVO’s returns in each of the last five years?** Calendar-year returns of MIVO in pounds (price, with income reinvested in the fund): 2022 −7.9%, 2023 +8.5%, 2024 +7.1%, 2025 +16.7%; 2026 to 13/11/2026 +13.4%. Past performance is not a guide to future returns. **How has MIVO done after inflation?** Over the five years to 13/11/2026 MIVO’s total return was +41.2%, or +10.2% after UK CPIH inflation. Past performance is not a guide to future returns. ## Fund documents - [Fund page at Amundi](https://www.amundietf.co.uk/en/professional/products/equity/amundi-msci-europe-minimum-volatility-factor-ucits-etf-eur-acc/lu1681041627) - Links checked 12/10/2026. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.