EEUD.L vs. EDG2.L

Last updated Jun 5, 2026

EEUD.L (iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)) and EDG2.L (iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc)) are both exchange-traded funds - EEUD.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while EDG2.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 5 years, EEUD.L returned 8.83%/yr vs 7.75%/yr for EDG2.L. A 0.61 correlation means they provide meaningful diversification when combined. EEUD.L charges 0.12%/yr vs 0.18%/yr for EDG2.L.

Performance

EEUD.L vs. EDG2.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EEUD.L) and iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc) (EDG2.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEUD.L achieves a 6.81% return, which is significantly lower than EDG2.L's 25.10% return.

EEUD.L

• 1D: 0.66%
• 1M: 3.78%
• YTD: 6.81%
• 6M: 9.10%
• 1Y: 18.95%
• 3Y*: 12.96%
• 5Y*: 8.83%
• 10Y*: —

EDG2.L

• 1D: -1.36%
• 1M: 6.61%
• YTD: 25.10%
• 6M: 26.84%
• 1Y: 51.62%
• 3Y*: 20.29%
• 5Y*: 7.75%
• 10Y*: —

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

EEUD.L vs. EDG2.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EEUD.L iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)	6.81%	23.28%	3.38%	13.27%	-6.77%	17.17%	4.21%	1.94%
EDG2.L iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc)	25.10%	26.14%	8.61%	2.17%	-12.40%	-1.62%	15.80%	2.32%

Correlation

The correlation between EEUD.L and EDG2.L is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Nov 25, 2019	0.61

The correlation between EEUD.L and EDG2.L has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.

EEUD.L vs. EDG2.L - Sectors Allocation Comparison

Sectors	EEUD.L	EDG2.L
Financial Services	24.5%	17.9%
Industrials	19.0%	7.0%
Healthcare	13.7%	2.6%
Technology	9.3%	43.1%
Consumer Defensive	7.9%	2.7%
Consumer Cyclical	6.9%	8.6%
Utilities	5.1%	1.7%
Energy	4.5%	3.4%
Basic Materials	4.1%	5.5%
Communication Services	3.7%	6.3%
Real Estate	1.4%	1.3%

Return for Risk

EEUD.L vs. EDG2.L — Risk / Return Rank

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

EEUD.L

EEUD.L Risk / Return Rank: 41
EEUD.L Sharpe Ratio Rank: 43
EEUD.L Sortino Ratio Rank: 43
EEUD.L Omega Ratio Rank: 45
EEUD.L Calmar Ratio Rank: 35
EEUD.L Martin Ratio Rank: 38

EDG2.L

EDG2.L Risk / Return Rank: 86
EDG2.L Sharpe Ratio Rank: 90
EDG2.L Sortino Ratio Rank: 87
EDG2.L Omega Ratio Rank: 89
EDG2.L Calmar Ratio Rank: 84
EDG2.L Martin Ratio Rank: 82

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.

EEUD.L vs. EDG2.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EEUD.L) and iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc) (EDG2.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.

	EEUD.L	EDG2.L	Difference
Sharpe ratio: Return per unit of total volatility	1.50	3.00	-1.50
Sortino ratio: Return per unit of downside risk	2.13	3.88	-1.75
Omega ratio: Gain probability vs. loss probability	1.28	1.56	-0.27
Calmar ratio: Return relative to maximum drawdown	1.70	4.54	-2.84
Martin ratio: Return relative to average drawdown	5.82	15.95	-10.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EEUD.L vs. EDG2.L - Sharpe Ratio Comparison

The current EEUD.L Sharpe Ratio is 1.50, which is lower than the EDG2.L Sharpe Ratio of 3.00. The chart below compares the historical Sharpe Ratios of EEUD.L and EDG2.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.

Sharpe Ratios by Period

	EEUD.L	EDG2.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	3.00	-1.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.48	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.52	+0.11

Drawdowns

EEUD.L vs. EDG2.L - Drawdown Comparison

The maximum EEUD.L drawdown since its inception was -27.37%, roughly equal to the maximum EDG2.L drawdown of -28.22%. Use the drawdown chart below to compare losses from any high point for EEUD.L and EDG2.L.

Drawdown Indicators

	EEUD.L	EDG2.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.37%	-28.22%	+0.85%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-11.31%	+0.21%
Max Drawdown (3Y) Largest decline over 3 years	-12.69%	-15.35%	+2.66%
Max Drawdown (5Y) Largest decline over 5 years	-18.30%	-25.03%	+6.73%
Current Drawdown Current decline from peak	-1.81%	-2.52%	+0.71%
Average Drawdown Average peak-to-trough decline	-4.06%	-12.12%	+8.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	3.23%	+0.02%

Volatility

EEUD.L vs. EDG2.L - Volatility Comparison

The current volatility for iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EEUD.L) is 4.15%, while iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc) (EDG2.L) has a volatility of 7.51%. This indicates that EEUD.L experiences smaller price fluctuations and is considered to be less risky than EDG2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEUD.L	EDG2.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	7.51%	-3.36%
Volatility (6M) Calculated over the trailing 6-month period	10.48%	14.69%	-4.21%
Volatility (1Y) Calculated over the trailing 1-year period	12.59%	17.13%	-4.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.95%	16.14%	-2.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.65%	17.91%	-2.26%

EEUD.L vs. EDG2.L - Expense Ratio Comparison

EEUD.L has a 0.12% expense ratio, which is lower than EDG2.L's 0.18% 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

EEUD.L vs. EDG2.L - Dividend Comparison

EEUD.L's dividend yield for the trailing twelve months is around 2.38%, while EDG2.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
EDG2.L iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EEUD.L iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)	2.38%	2.54%	2.94%	2.76%	2.92%	2.30%	1.92%	2.72%

Frequently Asked Questions

Can I hold both EEUD.L and EDG2.L in my portfolio?

EEUD.L and EDG2.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EEUD.L or EDG2.L?

On fees, EEUD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EEUD.L or EDG2.L?

EEUD.L is cheaper with a 0.12% expense ratio, compared with 0.18% for EDG2.L.

What is the main difference between EEUD.L and EDG2.L?

EEUD.L is categorized as Europe Equities, while EDG2.L is Emerging Markets Equities. EEUD.L tracks MSCI Europe NR EUR, while EDG2.L tracks MSCI EM NR USD. They also come from different issuers: BlackRock and iShares. Their fees differ too: 0.12% for EEUD.L and 0.18% for EDG2.L.