EIRL vs. EUDV

Last updated Aug 4, 2026

EIRL (iShares MSCI Ireland ETF) and EUDV (ProShares MSCI Europe Dividend Growers ETF) are both Europe Equities funds - EIRL tracks the MSCI Ireland Investable Market 25/50 Index while EUDV tracks the MSCI Europe Dividend Masters Index. Both are passively managed. Over the past 10 years, EIRL returned 9.76%/yr vs 5.57%/yr for EUDV. Their 0.67 correlation means they have sometimes moved together and sometimes differently. EIRL charges 0.49%/yr vs 0.55%/yr for EUDV.

Performance

EIRL vs. EUDV - Performance Comparison

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

Returns By Period

In the year-to-date period, EIRL achieves a 10.04% return, which is significantly higher than EUDV's 5.42% return. Over the past 10 years, EIRL has outperformed EUDV with an annualized return of 9.76%, while EUDV has yielded a comparatively lower 5.57% annualized return.

EIRL

• 1D: 0.12%
• 1M: 0.25%
• 6M: 6.83%
• YTD: 10.04%
• 1Y: 25.72%
• 3Y*: 12.88%
• 5Y*: 8.34%
• 10Y*: 9.76%
• ALL TIME*: 9.90%

EUDV

• 1D: 0.57%
• 1M: 1.23%
• 6M: 2.77%
• YTD: 5.42%
• 1Y: 9.31%
• 3Y*: 8.67%
• 5Y*: 1.54%
• 10Y*: 5.57%
• ALL TIME*: 5.01%

*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	$628.14K	$449.36K	$1.15M
EUDV ProShares MSCI Europe Dividend Growers ETF	$11.63K	$8.35K	$24.96K

EIRL vs. EUDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EIRL iShares MSCI Ireland ETF	10.04%	28.82%	-1.64%	35.13%	-18.83%	13.72%	9.63%	28.15%	-21.92%	29.82%
EUDV ProShares MSCI Europe Dividend Growers ETF	5.42%	14.05%	0.03%	20.41%	-24.87%	19.56%	5.81%	25.89%	-11.12%	21.57%

Correlation

The correlation between EIRL and EUDV is 0.65, 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.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (5Y) Shows whether the relationship held over a longer period.	0.75
Correlation (10Y) Provides a long-term view across more market conditions.	0.70
Correlation (All Time) Calculated using the full available price history since Sep 11, 2015	0.67

The correlation between EIRL and EUDV has been stable across timeframes, ranging from 0.65 to 0.75 - a consistent structural relationship.

EIRL vs. EUDV - Sectors Allocation Comparison

Sectors	EIRL	EUDV
Financial Services	39.6%	12.3%
Consumer Defensive	19.5%	11.4%
Healthcare	10.9%	18.1%
Industrials	10.4%	19.5%
Consumer Cyclical	8.5%	-
Basic Materials	4.3%	12.4%
Energy	4.3%	2.2%
Utilities	4.3%	9.1%
Real Estate	2.0%	2.8%
Technology	0.2%	10.6%
Communication Services	0.0%	3.7%

Return for Risk

EIRL vs. EUDV — 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: 60
EIRL Omega Ratio Rank: 59
EIRL Calmar Ratio Rank: 48
EIRL Martin Ratio Rank: 51

EUDV

EUDV Risk / Return Rank: 27
EUDV Sharpe Ratio Rank: 28
EUDV Sortino Ratio Rank: 27
EUDV Omega Ratio Rank: 25
EUDV Calmar Ratio Rank: 27
EUDV Martin Ratio Rank: 29

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. EUDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Ireland ETF (EIRL) and ProShares MSCI Europe Dividend Growers ETF (EUDV). 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	EUDV	Difference
Sharpe ratio: Return per unit of total volatility	1.44	0.67	+0.78
Sortino ratio: Return per unit of downside risk	2.13	1.02	+1.11
Omega ratio: Gain probability vs. loss probability	1.27	1.12	+0.15
Calmar ratio: Return relative to maximum drawdown	1.81	0.88	+0.93
Martin ratio: Return relative to average drawdown	6.05	2.62	+3.43

EIRL vs. EUDV - Sharpe Ratio Comparison

The current EIRL Sharpe Ratio is 1.44, which is higher than the EUDV Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of EIRL and EUDV, 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. EUDV - Drawdown Comparison

The maximum EIRL drawdown since its inception was -46.48%, which is greater than EUDV's maximum drawdown of -37.51%. Use the drawdown chart below to compare losses from any high point for EIRL and EUDV.

Drawdown Indicators

	EIRL	EUDV	Difference
Max Drawdown Largest peak-to-trough decline	-46.48%	-37.51%	-8.97%
Max Drawdown (1Y) Largest decline over 1 year	-14.28%	-10.63%	-3.65%
Max Drawdown (3Y) Largest decline over 3 years	-23.04%	-13.69%	-9.35%
Max Drawdown (5Y) Largest decline over 5 years	-40.14%	-37.51%	-2.63%
Max Drawdown (10Y) Largest decline over 10 years	-46.48%	-37.51%	-8.97%
Current Drawdown Current decline from peak	-1.05%	-0.71%	-0.34%
Average Drawdown Average peak-to-trough decline	-9.02%	-8.53%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.26%	3.56%	+0.70%

Volatility

EIRL vs. EUDV - Volatility Comparison

iShares MSCI Ireland ETF (EIRL) has a higher volatility of 4.26% compared to ProShares MSCI Europe Dividend Growers ETF (EUDV) at 3.53%. This indicates that EIRL's price experiences larger fluctuations and is considered to be riskier than EUDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIRL	EUDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	3.53%	+0.73%
Volatility (6M) Calculated over the trailing 6-month period	15.30%	11.63%	+3.67%
Volatility (1Y) Calculated over the trailing 1-year period	17.96%	14.07%	+3.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.10%	16.22%	+4.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.20%	16.91%	+4.29%

EIRL vs. EUDV - Expense Ratio Comparison

EIRL has a 0.49% expense ratio, which is lower than EUDV's 0.55% expense ratio.

Dividends

EIRL vs. EUDV - Dividend Comparison

EIRL's dividend yield for the trailing twelve months is around 2.37%, more than EUDV's 2.04% 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%
EUDV ProShares MSCI Europe Dividend Growers ETF	2.04%	1.74%	1.92%	1.87%	1.77%	2.30%	1.27%	2.20%	2.22%	2.33%	2.53%	0.37%

Frequently Asked Questions

Can I hold both EIRL and EUDV in my portfolio?

EIRL and EUDV have a correlation of 0.65, 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 EUDV?

EIRL has higher volatility (4.26%) compared to EUDV (3.53%). In terms of maximum drawdown, EIRL dropped -46.48% vs EUDV's -37.51%.

Which ETF is better, EIRL or EUDV?

On 10-year performance, EIRL leads with 9.76% vs 5.57% for EUDV. On fees, EIRL is cheaper at 0.49% per year. On volatility, EUDV has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EIRL or EUDV?

Over the 10-year period, EIRL has performed better with a 9.76% return vs 5.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EIRL or EUDV?

EIRL is cheaper with a 0.49% expense ratio, compared with 0.55% for EUDV.

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

EIRL has the higher dividend yield at 2.37%, compared with 2.04% for EUDV.

What is the main difference between EIRL and EUDV?

EIRL tracks MSCI Ireland Investable Market 25/50 Index, while EUDV tracks MSCI Europe Dividend Masters Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.49% for EIRL and 0.55% for EUDV.

Which has better risk-adjusted returns?

EIRL currently has the higher Sharpe Ratio (1.44 vs 0.67), 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.