PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ADIV vs. IEUR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ADIV vs. IEUR

Last updated Aug 2, 2026
Documentation

ADIV (SmartETFs Asia Pacific Dividend Builder ETF) and IEUR (iShares Core MSCI Europe ETF) are both exchange-traded funds - ADIV is a Asia Pacific Equities fund actively managed by Guinness Atkinson, while IEUR is a Europe Equities fund tracking the MSCI Europe Investable Market Index. ADIV is actively managed, while IEUR is passively managed. Over the past 5 years, ADIV returned 7.69%/yr vs 9.10%/yr for IEUR. Their 0.71 correlation means they have sometimes moved together and sometimes differently. ADIV charges 0.78%/yr vs 0.09%/yr for IEUR.

Performance

ADIV vs. IEUR - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, ADIV achieves a 9.55% return, which is significantly lower than IEUR's 10.27% return.

ADIV

1D
-0.96%
1M
6.05%
6M
6.89%
YTD
9.55%
1Y
14.46%
3Y*
16.03%
5Y*
7.69%
10Y*
—
ALL TIME*
6.88%

IEUR

1D
-0.49%
1M
1.08%
6M
5.44%
YTD
10.27%
1Y
23.45%
3Y*
16.38%
5Y*
9.10%
10Y*
9.92%
ALL TIME*
6.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

ADIV

SmartETFs Asia Pacific Dividend Builder ETF
$158.48K$98.50K$105.95K

IEUR

iShares Core MSCI Europe ETF
$76.19M$57.15M$73.12M

ADIV vs. IEUR - Yearly Performance Comparison

2026 (YTD)20252024202320222021
ADIV
SmartETFs Asia Pacific Dividend Builder ETF		9.55%21.86%14.47%12.28%-18.00%1.41%
IEUR
iShares Core MSCI Europe ETF		10.27%35.67%1.40%19.71%-15.90%10.51%

Correlation

The correlation between ADIV and IEUR is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.66

Correlation (3Y)
Balances recent behavior with more history.

0.67

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.71

Correlation (All Time)
Calculated using the full available price history since Mar 29, 2021

0.71

The correlation between ADIV and IEUR has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.

ADIV vs. IEUR - Sectors Allocation Comparison

Sectors
ADIV
IEUR

Financial Services

32.2%
24.0%

Technology

25.8%
9.1%

Consumer Cyclical

15.9%
6.7%

Real Estate

8.1%
1.5%

Healthcare

5.2%
12.7%

Consumer Defensive

4.8%
8.2%

Communication Services

3.5%
3.3%

Industrials

2.5%
19.2%

Utilities

2.0%
4.3%

Basic Materials

-

5.6%

Energy

-

4.9%

Financial Services

ADIV
32.2%
IEUR
24.0%

Technology

ADIV
25.8%
IEUR
9.1%

Consumer Cyclical

ADIV
15.9%
IEUR
6.7%

Real Estate

ADIV
8.1%
IEUR
1.5%

Healthcare

ADIV
5.2%
IEUR
12.7%

Consumer Defensive

ADIV
4.8%
IEUR
8.2%

Communication Services

ADIV
3.5%
IEUR
3.3%

Industrials

ADIV
2.5%
IEUR
19.2%

Utilities

ADIV
2.0%
IEUR
4.3%

Basic Materials

ADIV

-

IEUR
5.6%

Energy

ADIV

-

IEUR
4.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SmartETFs Asia Pacific Dividend Builder ETF

iShares Core MSCI Europe ETF

Often compared with ADIV:
ADIV vs. CNADIV vs. CEA1.LADIV vs. EWSADIV vs. EUFNADIV vs. FPAADIV vs. VFV.TOADIV vs. EFAS
Often compared with IEUR:
IEUR vs. VGKIEUR vs. IEVIEUR vs. FEZIEUR vs. IMEU.LIEUR vs. EZUIEUR vs. VOOIEUR vs. EFA

Return for Risk

ADIV vs. IEUR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ADIV
ADIV Risk / Return Rank: 3939
Overall Rank
ADIV Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
ADIV Sortino Ratio Rank: 3838
Sortino Ratio Rank
ADIV Omega Ratio Rank: 3838
Omega Ratio Rank
ADIV Calmar Ratio Rank: 3939
Calmar Ratio Rank
ADIV Martin Ratio Rank: 4040
Martin Ratio Rank
IEUR
IEUR Risk / Return Rank: 6161
Overall Rank
IEUR Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
IEUR Sortino Ratio Rank: 6565
Sortino Ratio Rank
IEUR Omega Ratio Rank: 6161
Omega Ratio Rank
IEUR Calmar Ratio Rank: 5454
Calmar Ratio Rank
IEUR Martin Ratio Rank: 6363
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ADIV vs. IEUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SmartETFs Asia Pacific Dividend Builder ETF (ADIV) 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.

ADIVIEURDifference
Sharpe ratioReturn per unit of total volatility
0.98
1.47

-0.49

Sortino ratioReturn per unit of downside risk
1.44
2.14

-0.71

Omega ratioGain probability vs. loss probability

1.18

1.26

-0.08

Calmar ratioReturn relative to maximum drawdown

1.37

1.92

-0.55

Martin ratioReturn relative to average drawdown

4.24

7.40

-3.16

ADIV vs. IEUR - Sharpe Ratio Comparison

The current ADIV Sharpe Ratio is 0.98, which is lower than the IEUR Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of ADIV and IEUR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

ADIV vs. IEUR - Drawdown Comparison

The maximum ADIV drawdown since its inception was -31.55%, smaller than the maximum IEUR drawdown of -36.96%. Use the drawdown chart below to compare losses from any high point for ADIV and IEUR.

Loading charts...

Drawdown Indicators

ADIVIEURDifference

Max Drawdown

Largest peak-to-trough decline

-31.55%

-36.96%

+5.41%

Max Drawdown (1Y)

Largest decline over 1 year

-10.15%

-12.04%

+1.89%

Max Drawdown (3Y)

Largest decline over 3 years

-18.53%

-14.25%

-4.28%

Max Drawdown (5Y)

Largest decline over 5 years

-31.55%

-32.75%

+1.20%

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.96%

—

Current Drawdown

Current decline from peak

-0.96%

-0.49%

-0.47%

Average Drawdown

Average peak-to-trough decline

-8.27%

-8.13%

-0.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.27%

3.12%

+0.15%

Volatility

ADIV vs. IEUR - Volatility Comparison

The current volatility for SmartETFs Asia Pacific Dividend Builder ETF (ADIV) is 3.87%, while iShares Core MSCI Europe ETF (IEUR) has a volatility of 4.45%. This indicates that ADIV experiences smaller price fluctuations and is considered to be less risky than IEUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ADIVIEURDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.87%

4.45%

-0.58%

Volatility (6M)

Calculated over the trailing 6-month period

11.67%

13.71%

-2.04%

Volatility (1Y)

Calculated over the trailing 1-year period

14.23%

15.80%

-1.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.61%

17.80%

-1.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.35%

18.23%

-1.88%

ADIV vs. IEUR - Expense Ratio Comparison

ADIV has a 0.78% expense ratio, which is higher than IEUR's 0.09% expense ratio.

Dividends

ADIV vs. IEUR - Dividend Comparison

ADIV's dividend yield for the trailing twelve months is around 2.87%, less than IEUR's 3.12% yield.

PositionTTM20252024202320222021202020192018201720162015
ADIV
SmartETFs Asia Pacific Dividend Builder ETF		2.87%2.77%4.83%4.55%2.98%13.85%0.00%0.00%0.00%0.00%0.00%0.00%
IEUR
iShares Core MSCI Europe ETF		3.12%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

ADIV and IEUR have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEUR has higher volatility (4.45%) compared to ADIV (3.87%). In terms of maximum drawdown, ADIV dropped -31.55% vs IEUR's -36.96%.

On 5-year performance, IEUR leads with 9.10% vs 7.69% for ADIV. On fees, IEUR is cheaper at 0.09% per year. On volatility, ADIV has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IEUR has performed better with a 9.10% return vs 7.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEUR is cheaper with a 0.09% expense ratio, compared with 0.78% for ADIV.

IEUR has the higher dividend yield at 3.12%, compared with 2.87% for ADIV.

ADIV is categorized as Asia Pacific Equities, while IEUR is Europe Equities. They also come from different issuers: Guinness Atkinson and iShares. Their fees differ too: 0.78% for ADIV and 0.09% for IEUR.

IEUR currently has the higher Sharpe Ratio (1.47 vs 0.98), 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.

Portfolio Optimizer

Find the right allocation for ADIV and IEUR

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer