8PSE.DE vs. IEUR
8PSE.DE (Invesco Physical Gold (EUR Hedged) ETC) and IEUR (iShares Core MSCI Europe ETF) are both exchange-traded funds - 8PSE.DE is a Gold fund tracking the LBMA Gold Price PM (EUR Hedged), while IEUR is a Europe Equities fund tracking the MSCI Europe Investable Market Index. Both are passively managed. Over the past 5 years, 8PSE.DE returned 13.22%/yr vs 9.55%/yr for IEUR. Their 0.08 correlation means their historical movements had little consistent relationship. 8PSE.DE charges 0.34%/yr vs 0.09%/yr for IEUR.
Performance
8PSE.DE vs. IEUR - Performance Comparison
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Different Trading Currencies
8PSE.DE is traded in EUR, while IEUR is traded in USD. To make them comparable, the IEUR values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, 8PSE.DE achieves a 86.04% return, which is significantly higher than IEUR's 13.68% return.
8PSE.DE
- 1D
- 1.13%
- 1M
- -1.90%
- 6M
- -18.44%
- YTD
- 86.04%
- 1Y
- 86.04%
- 3Y*
- 22.99%
- 5Y*
- 13.22%
- 10Y*
- —
- ALL TIME*
- 11.22%
IEUR
- 1D
- -0.25%
- 1M
- 0.86%
- 6M
- 8.67%
- YTD
- 13.68%
- 1Y
- 23.78%
- 3Y*
- 15.82%
- 5Y*
- 9.55%
- 10Y*
- 9.58%
- ALL TIME*
- 8.24%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| €631.73K | €496.52K | €492.24K | |
| €60.64M | €49.71M | €63.74M |
8PSE.DE vs. IEUR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC | 86.04% | 0.00% | 0.00% | 0.00% | 0.00% | -1.85% | 4.42% |
IEUR iShares Core MSCI Europe ETF | 13.68% | 19.57% | 8.10% | 16.12% | -10.69% | 25.44% | 9.17% |
Correlation
The correlation between 8PSE.DE and IEUR is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2020 | 0.08 |
The correlation between 8PSE.DE and IEUR shifts across timeframes, from 0.08 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
8PSE.DE vs. IEUR — Risk / Return Rank
8PSE.DE
IEUR
8PSE.DE vs. IEUR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) and iShares Core MSCI Europe ETF (IEUR). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| 8PSE.DE | IEUR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.89 | 1.32 | +0.57 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 2.33 | -0.54 |
| Martin ratioReturn relative to average drawdown | 3.59 | 9.77 | -6.18 |
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Drawdowns
8PSE.DE vs. IEUR - Drawdown Comparison
The maximum 8PSE.DE drawdown since its inception was -47.85%, which is greater than IEUR's maximum drawdown of -36.74%. Use the drawdown chart below to compare losses from any high point for 8PSE.DE and IEUR.
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Drawdown Indicators
| 8PSE.DE | IEUR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.85% | -36.74% | -11.11% |
Max Drawdown (1Y)Largest decline over 1 year | -47.85% | -10.25% | -37.60% |
Max Drawdown (3Y)Largest decline over 3 years | -47.85% | -15.24% | -32.61% |
Max Drawdown (5Y)Largest decline over 5 years | -47.85% | -21.05% | -26.80% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.74% | — |
Current DrawdownCurrent decline from peak | -24.06% | -0.25% | -23.81% |
Average DrawdownAverage peak-to-trough decline | -10.11% | -5.54% | -4.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.88% | 2.44% | +21.44% |
Volatility
8PSE.DE vs. IEUR - Volatility Comparison
Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) has a higher volatility of 6.93% compared to iShares Core MSCI Europe ETF (IEUR) at 3.53%. This indicates that 8PSE.DE's price experiences larger fluctuations and is considered to be riskier than IEUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 8PSE.DE | IEUR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.93% | 3.53% | +3.40% |
Volatility (6M)Calculated over the trailing 6-month period | 19.96% | 11.55% | +8.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 150.32% | 13.52% | +136.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.11% | 14.79% | +52.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.19% | 16.64% | +44.55% |
8PSE.DE vs. IEUR - Expense Ratio Comparison
8PSE.DE has a 0.34% expense ratio, which is higher than IEUR's 0.09% expense ratio.
Dividends
8PSE.DE vs. IEUR - Dividend Comparison
8PSE.DE has not paid dividends to shareholders, while IEUR's dividend yield for the trailing twelve months is around 3.07%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEUR iShares Core MSCI Europe ETF | 3.07% | 2.97% | 3.54% | 3.17% | 3.05% | 2.88% | 2.13% | 3.26% | 3.76% | 2.64% | 3.19% | 2.79% |
Frequently Asked Questions
8PSE.DE and IEUR have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEUR is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEUR is cheaper with a 0.09% expense ratio, compared with 0.34% for 8PSE.DE.
8PSE.DE is categorized as Gold, while IEUR is Europe Equities. 8PSE.DE tracks LBMA Gold Price PM (EUR Hedged), while IEUR tracks MSCI Europe Investable Market Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.34% for 8PSE.DE and 0.09% for IEUR.
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