EEUD.L vs. OPEN.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EEUD.L) and iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.L).

EEUD.L and OPEN.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EEUD.L is a passively managed fund by BlackRock that tracks the performance of the MSCI Europe NR EUR. It was launched on Mar 6, 2019. OPEN.L is a passively managed fund by BlackRock that tracks the performance of the MSCI ACWI Value NR USD. It was launched on Sep 7, 2018. Both EEUD.L and OPEN.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EEUD.L vs. OPEN.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 Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.L). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EEUD.L iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)	1.20%	23.28%	3.38%	13.27%	-6.77%	17.17%	4.21%	12.69%
OPEN.L iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc)	1.10%	15.24%	9.49%	9.61%	1.80%	18.45%	7.20%	12.05%

Different Trading Currencies

EEUD.L is traded in GBP, while OPEN.L is traded in USD. To make them comparable, the OPEN.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, EEUD.L achieves a 1.20% return, which is significantly higher than OPEN.L's 1.10% return.

EEUD.L

• 1D: 2.36%
• 1M: -4.73%
• YTD: 1.20%
• 6M: 6.74%
• 1Y: 17.75%
• 3Y*: 11.03%
• 5Y*: 9.15%
• 10Y*: —

OPEN.L

• 1D: 2.52%
• 1M: -4.26%
• YTD: 1.10%
• 6M: 5.46%
• 1Y: 14.77%
• 3Y*: 10.81%
• 5Y*: 9.33%
• 10Y*: —

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

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

EEUD.L has a 0.12% expense ratio, which is lower than OPEN.L's 0.25% 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%.

OPEN.L

iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc)

EEUD.L

iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)

Return for Risk

EEUD.L vs. OPEN.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: 63
EEUD.L Sharpe Ratio Rank: 68
EEUD.L Sortino Ratio Rank: 63
EEUD.L Omega Ratio Rank: 66
EEUD.L Calmar Ratio Rank: 59
EEUD.L Martin Ratio Rank: 59

OPEN.L

OPEN.L Risk / Return Rank: 57
OPEN.L Sharpe Ratio Rank: 59
OPEN.L Sortino Ratio Rank: 55
OPEN.L Omega Ratio Rank: 60
OPEN.L Calmar Ratio Rank: 58
OPEN.L Martin Ratio Rank: 54

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. OPEN.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 Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.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	OPEN.L	Difference
Sharpe ratio Return per unit of total volatility	1.26	1.01	+0.25
Sortino ratio Return per unit of downside risk	1.68	1.39	+0.28
Omega ratio Gain probability vs. loss probability	1.25	1.21	+0.05
Calmar ratio Return relative to maximum drawdown	1.63	1.59	+0.04
Martin ratio Return relative to average drawdown	6.21	5.68	+0.53
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. OPEN.L - Sharpe Ratio Comparison

The current EEUD.L Sharpe Ratio is 1.26, which is comparable to the OPEN.L Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of EEUD.L and OPEN.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EEUD.L	OPEN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	1.01	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.69	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.59	0.00

Correlation

The correlation between EEUD.L and OPEN.L is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EEUD.L vs. OPEN.L - Dividend Comparison

EEUD.L's dividend yield for the trailing twelve months is around 2.51%, while OPEN.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019
EEUD.L iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)	2.51%	2.54%	2.94%	2.76%	2.92%	2.30%	1.92%	2.72%
OPEN.L iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

EEUD.L vs. OPEN.L - Drawdown Comparison

The maximum EEUD.L drawdown since its inception was -27.37%, which is greater than OPEN.L's maximum drawdown of -25.68%. Use the drawdown chart below to compare losses from any high point for EEUD.L and OPEN.L.

Drawdown Indicators

	EEUD.L	OPEN.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.37%	-33.45%	+6.08%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-12.40%	+1.30%
Max Drawdown (5Y) Largest decline over 5 years	-18.30%	-22.59%	+4.29%
Current Drawdown Current decline from peak	-6.97%	-7.50%	+0.53%
Average Drawdown Average peak-to-trough decline	-4.06%	-5.27%	+1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	2.98%	-0.06%

Volatility

EEUD.L vs. OPEN.L - Volatility Comparison

iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EEUD.L) and iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.L) have volatilities of 5.86% and 5.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEUD.L	OPEN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.86%	5.84%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	9.46%	9.55%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	14.08%	14.62%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.85%	13.47%	+0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.66%	15.69%	-0.03%