EIRL vs. EPOL

Last updated Aug 2, 2026

EIRL (iShares MSCI Ireland ETF) and EPOL (iShares MSCI Poland ETF) are both Europe Equities funds from iShares - EIRL tracks the MSCI Ireland Investable Market 25/50 Index while EPOL tracks the MSCI Poland Investable Market Index. Both are passively managed. Over the past 10 years, EIRL returned 9.78%/yr vs 11.96%/yr for EPOL. Their 0.55 correlation means they have sometimes moved together and sometimes differently. EIRL charges 0.49%/yr vs 0.61%/yr for EPOL.

Performance

EIRL vs. EPOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Ireland ETF (EIRL) and iShares MSCI Poland ETF (EPOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIRL achieves a 9.90% return, which is significantly lower than EPOL's 22.62% return. Over the past 10 years, EIRL has underperformed EPOL with an annualized return of 9.78%, while EPOL has yielded a comparatively higher 11.96% annualized return.

EIRL

• 1D: -0.36%
• 1M: 0.13%
• 6M: 7.17%
• YTD: 9.90%
• 1Y: 25.57%
• 3Y*: 12.74%
• 5Y*: 8.40%
• 10Y*: 9.78%
• ALL TIME*: 9.90%

EPOL

• 1D: 0.16%
• 1M: 8.60%
• 6M: 14.79%
• YTD: 22.62%
• 1Y: 40.70%
• 3Y*: 33.53%
• 5Y*: 18.62%
• 10Y*: 11.96%
• ALL TIME*: 6.44%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EIRL iShares MSCI Ireland ETF	$557.35K	$479.69K	$1.13M
EPOL iShares MSCI Poland ETF	$18.30M	$16.66M	$16.43M

EIRL vs. EPOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EIRL iShares MSCI Ireland ETF	9.90%	28.82%	-1.64%	35.13%	-18.83%	13.72%	9.63%	28.15%	-21.92%	29.82%
EPOL iShares MSCI Poland ETF	22.62%	77.34%	-2.61%	50.70%	-24.62%	12.21%	-8.38%	-6.13%	-13.76%	52.43%

Correlation

The correlation between EIRL and EPOL is 0.58, 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.	0.58
Correlation (3Y) Balances recent behavior with more history.	0.54
Correlation (5Y) Shows whether the relationship held over a longer period.	0.60
Correlation (10Y) Provides a long-term view across more market conditions.	0.57
Correlation (All Time) Calculated using the full available price history since May 26, 2010	0.55

The correlation between EIRL and EPOL has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.

EIRL vs. EPOL - Sectors Allocation Comparison

Sectors	EIRL	EPOL
Financial Services	39.6%	45.7%
Consumer Defensive	19.5%	6.0%
Healthcare	10.9%	0.7%
Industrials	10.4%	1.8%
Consumer Cyclical	8.5%	14.0%
Basic Materials	4.3%	7.1%
Energy	4.3%	13.2%
Utilities	4.3%	4.5%
Real Estate	2.0%	-
Technology	0.2%	1.7%
Communication Services	0.0%	5.4%

Return for Risk

EIRL vs. EPOL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EIRL

EIRL Risk / Return Rank: 55
EIRL Sharpe Ratio Rank: 58
EIRL Sortino Ratio Rank: 59
EIRL Omega Ratio Rank: 58
EIRL Calmar Ratio Rank: 48
EIRL Martin Ratio Rank: 50

EPOL

EPOL Risk / Return Rank: 79
EPOL Sharpe Ratio Rank: 78
EPOL Sortino Ratio Rank: 78
EPOL Omega Ratio Rank: 70
EPOL Calmar Ratio Rank: 89
EPOL Martin Ratio Rank: 78

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.

EIRL vs. EPOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Ireland ETF (EIRL) and iShares MSCI Poland ETF (EPOL). 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.

	EIRL	EPOL	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.76	-0.40
Sortino ratio: Return per unit of downside risk	2.03	2.49	-0.47
Omega ratio: Gain probability vs. loss probability	1.25	1.29	-0.04
Calmar ratio: Return relative to maximum drawdown	1.72	3.68	-1.97
Martin ratio: Return relative to average drawdown	5.74	9.96	-4.22

EIRL vs. EPOL - Sharpe Ratio Comparison

The current EIRL Sharpe Ratio is 1.36, which is comparable to the EPOL Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of EIRL and EPOL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EIRL vs. EPOL - Drawdown Comparison

The maximum EIRL drawdown since its inception was -46.48%, smaller than the maximum EPOL drawdown of -63.72%. Use the drawdown chart below to compare losses from any high point for EIRL and EPOL.

Drawdown Indicators

	EIRL	EPOL	Difference
Max Drawdown Largest peak-to-trough decline	-46.48%	-63.72%	+17.24%
Max Drawdown (1Y) Largest decline over 1 year	-14.28%	-11.04%	-3.24%
Max Drawdown (3Y) Largest decline over 3 years	-23.04%	-19.56%	-3.48%
Max Drawdown (5Y) Largest decline over 5 years	-40.14%	-54.21%	+14.07%
Max Drawdown (10Y) Largest decline over 10 years	-46.48%	-61.41%	+14.93%
Current Drawdown Current decline from peak	-1.17%	0.00%	-1.17%
Average Drawdown Average peak-to-trough decline	-9.02%	-26.64%	+17.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.26%	4.07%	+0.19%

Volatility

EIRL vs. EPOL - Volatility Comparison

The current volatility for iShares MSCI Ireland ETF (EIRL) is 4.45%, while iShares MSCI Poland ETF (EPOL) has a volatility of 5.29%. This indicates that EIRL experiences smaller price fluctuations and is considered to be less risky than EPOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIRL	EPOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	5.29%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	15.31%	18.34%	-3.03%
Volatility (1Y) Calculated over the trailing 1-year period	17.99%	23.12%	-5.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.10%	29.12%	-8.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.19%	27.42%	-6.23%

EIRL vs. EPOL - Expense Ratio Comparison

EIRL has a 0.49% expense ratio, which is lower than EPOL's 0.61% expense ratio.

Dividends

EIRL vs. EPOL - Dividend Comparison

EIRL's dividend yield for the trailing twelve months is around 2.37%, less than EPOL's 3.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIRL iShares MSCI Ireland ETF	2.37%	2.71%	2.56%	1.00%	1.13%	0.82%	0.50%	2.11%	1.52%	1.44%	1.34%	1.70%
EPOL iShares MSCI Poland ETF	3.44%	4.78%	6.04%	2.87%	2.65%	1.33%	1.44%	2.51%	1.44%	1.88%	2.14%	2.53%

Frequently Asked Questions

Can I hold both EIRL and EPOL in my portfolio?

EIRL and EPOL have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIRL or EPOL?

EPOL has higher volatility (5.29%) compared to EIRL (4.45%). In terms of maximum drawdown, EIRL dropped -46.48% vs EPOL's -63.72%.

Which ETF is better, EIRL or EPOL?

On 10-year performance, EPOL leads with 11.96% vs 9.78% for EIRL. On fees, EIRL is cheaper at 0.49% per year. On volatility, EIRL has been the lower-risk option at 4.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EIRL or EPOL?

Over the 10-year period, EPOL has performed better with a 11.96% return vs 9.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EIRL or EPOL?

EIRL is cheaper with a 0.49% expense ratio, compared with 0.61% for EPOL.

Which ETF pays a higher dividend yield, EIRL or EPOL?

EPOL has the higher dividend yield at 3.44%, compared with 2.37% for EIRL.

What is the main difference between EIRL and EPOL?

EIRL tracks MSCI Ireland Investable Market 25/50 Index, while EPOL tracks MSCI Poland Investable Market Index. Their fees differ too: 0.49% for EIRL and 0.61% for EPOL.

Which has better risk-adjusted returns?

EPOL currently has the higher Sharpe Ratio (1.76 vs 1.36), 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.