ADIV vs. EUFN

Last updated Jun 3, 2026

ADIV (SmartETFs Asia Pacific Dividend Builder ETF) and EUFN (iShares MSCI Europe Financials ETF) are both exchange-traded funds - ADIV is a Asia Pacific Equities fund actively managed by Guinness Atkinson Asset Management, while EUFN is a Financials Equities fund tracking the MSCI Europe Financials Index. ADIV is actively managed, while EUFN is passively managed. Over the past 5 years, ADIV returned 6.94%/yr vs 17.99%/yr for EUFN. A 0.64 correlation means they provide meaningful diversification when combined. ADIV charges 0.78%/yr vs 0.48%/yr for EUFN.

Performance

ADIV vs. EUFN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SmartETFs Asia Pacific Dividend Builder ETF (ADIV) and iShares MSCI Europe Financials ETF (EUFN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADIV achieves a 9.31% return, which is significantly higher than EUFN's 3.64% return.

ADIV

• 1D: 0.90%
• 1M: 4.16%
• YTD: 9.31%
• 6M: 8.56%
• 1Y: 21.65%
• 3Y*: 18.19%
• 5Y*: 6.94%
• 10Y*: —

EUFN

• 1D: 0.39%
• 1M: 2.15%
• YTD: 3.64%
• 6M: 10.74%
• 1Y: 24.36%
• 3Y*: 31.81%
• 5Y*: 17.99%
• 10Y*: 12.21%

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

ADIV vs. EUFN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ADIV SmartETFs Asia Pacific Dividend Builder ETF	9.31%	21.86%	14.47%	12.28%	-18.00%	1.50%
EUFN iShares MSCI Europe Financials ETF	3.64%	65.73%	17.20%	26.15%	-8.78%	8.72%

Correlation

The correlation between ADIV and EUFN is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Mar 30, 2021	0.64

The correlation between ADIV and EUFN has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

ADIV vs. EUFN - Sectors Allocation Comparison

Sectors	ADIV	EUFN
Financial Services	32.4%	97.3%
Technology	25.5%	1.1%
Consumer Cyclical	16.3%	0.2%
Real Estate	7.9%	-
Healthcare	5.6%	-
Consumer Defensive	4.7%	-
Communication Services	2.7%	-
Utilities	2.5%	-
Industrials	2.4%	0.4%
Basic Materials	-	-
Energy	-	-

Return for Risk

ADIV vs. EUFN — Risk / Return Rank

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

ADIV

ADIV Risk / Return Rank: 45
ADIV Sharpe Ratio Rank: 46
ADIV Sortino Ratio Rank: 45
ADIV Omega Ratio Rank: 45
ADIV Calmar Ratio Rank: 44
ADIV Martin Ratio Rank: 44

EUFN

EUFN Risk / Return Rank: 35
EUFN Sharpe Ratio Rank: 35
EUFN Sortino Ratio Rank: 35
EUFN Omega Ratio Rank: 33
EUFN Calmar Ratio Rank: 35
EUFN Martin Ratio Rank: 39

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.

ADIV vs. EUFN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SmartETFs Asia Pacific Dividend Builder ETF (ADIV) and iShares MSCI Europe Financials ETF (EUFN). 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.

	ADIV	EUFN	Difference
Sharpe ratio Return per unit of total volatility	1.62	1.25	+0.37
Sortino ratio Return per unit of downside risk	2.28	1.83	+0.45
Omega ratio Gain probability vs. loss probability	1.29	1.22	+0.07
Calmar ratio Return relative to maximum drawdown	2.18	1.75	+0.43
Martin ratio Return relative to average drawdown	7.24	6.17	+1.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADIV vs. EUFN - Sharpe Ratio Comparison

The current ADIV Sharpe Ratio is 1.62, which is comparable to the EUFN Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of ADIV and EUFN, 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

	ADIV	EUFN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	1.25	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.83	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.27	+0.16

Drawdowns

ADIV vs. EUFN - Drawdown Comparison

The maximum ADIV drawdown since its inception was -31.55%, smaller than the maximum EUFN drawdown of -53.25%. Use the drawdown chart below to compare losses from any high point for ADIV and EUFN.

Drawdown Indicators

	ADIV	EUFN	Difference
Max Drawdown Largest peak-to-trough decline	-31.55%	-53.25%	+21.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	-14.77%	+4.62%
Max Drawdown (3Y) Largest decline over 3 years	-18.53%	-15.95%	-2.58%
Max Drawdown (5Y) Largest decline over 5 years	-31.55%	-35.15%	+3.60%
Max Drawdown (10Y) Largest decline over 10 years	—	-53.25%	—
Current Drawdown Current decline from peak	0.00%	-1.16%	+1.16%
Average Drawdown Average peak-to-trough decline	-8.45%	-14.56%	+6.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	4.21%	-1.15%

Volatility

ADIV vs. EUFN - Volatility Comparison

The current volatility for SmartETFs Asia Pacific Dividend Builder ETF (ADIV) is 4.34%, while iShares MSCI Europe Financials ETF (EUFN) has a volatility of 7.15%. This indicates that ADIV experiences smaller price fluctuations and is considered to be less risky than EUFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADIV	EUFN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.34%	7.15%	-2.81%
Volatility (6M) Calculated over the trailing 6-month period	10.46%	16.43%	-5.97%
Volatility (1Y) Calculated over the trailing 1-year period	13.43%	19.67%	-6.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	21.78%	-5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.37%	24.55%	-8.18%

ADIV vs. EUFN - Expense Ratio Comparison

ADIV has a 0.78% expense ratio, which is higher than EUFN's 0.48% expense ratio.

Dividends

ADIV vs. EUFN - Dividend Comparison

ADIV's dividend yield for the trailing twelve months is around 2.75%, less than EUFN's 3.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADIV SmartETFs Asia Pacific Dividend Builder ETF	2.75%	2.77%	4.83%	4.55%	2.98%	13.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EUFN iShares MSCI Europe Financials ETF	3.45%	3.57%	5.36%	5.00%	4.24%	4.15%	1.38%	4.55%	6.48%	3.04%	4.03%	3.65%

Frequently Asked Questions

Can I hold both ADIV and EUFN in my portfolio?

ADIV and EUFN have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADIV or EUFN?

EUFN has higher volatility (7.15%) compared to ADIV (4.34%). In terms of maximum drawdown, ADIV dropped -31.55% vs EUFN's -53.25%.

Which ETF is better, ADIV or EUFN?

On 5-year performance, EUFN leads with 17.99% vs 6.94% for ADIV. On fees, EUFN is cheaper at 0.48% per year. On volatility, ADIV has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ADIV or EUFN?

Over the 5-year period, EUFN has performed better with a 17.99% return vs 6.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ADIV or EUFN?

EUFN is cheaper with a 0.48% expense ratio, compared with 0.78% for ADIV.

Which ETF pays a higher dividend yield, ADIV or EUFN?

EUFN has the higher dividend yield at 3.45%, compared with 2.75% for ADIV.

What is the main difference between ADIV and EUFN?

ADIV is categorized as Asia Pacific Equities, while EUFN is Financials Equities. They also come from different issuers: Guinness Atkinson Asset Management and iShares. Their fees differ too: 0.78% for ADIV and 0.48% for EUFN.

Which has better risk-adjusted returns?

ADIV currently has the higher Sharpe Ratio (1.62 vs 1.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.