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EIRL vs. IEUR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EIRL vs. IEUR

Last updated Aug 4, 2026
Documentation

EIRL (iShares MSCI Ireland ETF) and IEUR (iShares Core MSCI Europe ETF) are both Europe Equities funds from iShares - EIRL tracks the MSCI Ireland Investable Market 25/50 Index while IEUR tracks the MSCI Europe Investable Market Index. Both are passively managed. Over the past 10 years, EIRL returned 9.76%/yr vs 9.93%/yr for IEUR. Their 0.79 correlation means they have sometimes moved together and sometimes differently. EIRL charges 0.49%/yr vs 0.09%/yr for IEUR.

Performance

EIRL vs. IEUR - Performance Comparison

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

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Returns By Period

In the year-to-date period, EIRL achieves a 10.04% return, which is significantly lower than IEUR's 10.73% return. Both investments have delivered pretty close results over the past 10 years, with EIRL having a 9.76% annualized return and IEUR not far ahead at 9.93%.

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%

IEUR

1D
0.42%
1M
1.50%
6M
5.01%
YTD
10.73%
1Y
23.97%
3Y*
17.31%
5Y*
8.96%
10Y*
9.93%
ALL TIME*
6.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

EIRL

iShares MSCI Ireland ETF
$628.14K$449.36K$1.15M

IEUR

iShares Core MSCI Europe ETF
$74.86M$57.66M$73.75M

EIRL vs. IEUR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
IEUR
iShares Core MSCI Europe ETF		10.73%35.67%1.40%19.71%-15.90%16.71%5.31%24.95%-14.86%26.70%

Correlation

The correlation between EIRL and IEUR is 0.76, 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.

0.76

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

0.77

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

0.83

Correlation (10Y)
Provides a long-term view across more market conditions.

0.80

Correlation (All Time)
Calculated using the full available price history since Jun 12, 2014

0.79

The correlation between EIRL and IEUR has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.

EIRL vs. IEUR - Sectors Allocation Comparison

Sectors
EIRL
IEUR

Financial Services

39.6%
24.0%

Consumer Defensive

19.5%
8.2%

Healthcare

10.9%
12.7%

Industrials

10.4%
19.2%

Consumer Cyclical

8.5%
6.7%

Basic Materials

4.3%
5.6%

Energy

4.3%
4.9%

Utilities

4.3%
4.3%

Real Estate

2.0%
1.5%

Technology

0.2%
9.1%

Communication Services

0.0%
3.3%

Financial Services

EIRL
39.6%
IEUR
24.0%

Consumer Defensive

EIRL
19.5%
IEUR
8.2%

Healthcare

EIRL
10.9%
IEUR
12.7%

Industrials

EIRL
10.4%
IEUR
19.2%

Consumer Cyclical

EIRL
8.5%
IEUR
6.7%

Basic Materials

EIRL
4.3%
IEUR
5.6%

Energy

EIRL
4.3%
IEUR
4.9%

Utilities

EIRL
4.3%
IEUR
4.3%

Real Estate

EIRL
2.0%
IEUR
1.5%

Technology

EIRL
0.2%
IEUR
9.1%

Communication Services

EIRL
0.0%
IEUR
3.3%

Compare stocks, funds, or ETFs

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

iShares MSCI Ireland ETF

iShares Core MSCI Europe ETF

Often compared with EIRL:
EIRL vs. EPOLEIRL vs. EUFNEIRL vs. EWQEIRL vs. EWIEIRL vs. EWPEIRL vs. ENZLEIRL vs. EWZS
Often compared with IEUR:
IEUR vs. VGKIEUR vs. IEVIEUR vs. FEZIEUR vs. IMEU.LIEUR vs. EZUIEUR vs. VOOIEUR vs. EFA

Return for Risk

EIRL vs. IEUR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EIRL
EIRL Risk / Return Rank: 5555
Overall Rank
EIRL Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
EIRL Sortino Ratio Rank: 6060
Sortino Ratio Rank
EIRL Omega Ratio Rank: 5959
Omega Ratio Rank
EIRL Calmar Ratio Rank: 4848
Calmar Ratio Rank
EIRL Martin Ratio Rank: 5151
Martin Ratio Rank
IEUR
IEUR Risk / Return Rank: 6262
Overall Rank
IEUR Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
IEUR Sortino Ratio Rank: 6666
Sortino Ratio Rank
IEUR Omega Ratio Rank: 6161
Omega Ratio Rank
IEUR Calmar Ratio Rank: 5555
Calmar Ratio Rank
IEUR Martin Ratio Rank: 6262
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.

EIRL vs. IEUR - Risk-Adjusted Trends Comparison

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

EIRLIEURDifference
Sharpe ratioReturn per unit of total volatility
1.44
1.53

-0.09

Sortino ratioReturn per unit of downside risk
2.13
2.22

-0.09

Omega ratioGain probability vs. loss probability

1.27

1.27

0.00

Calmar ratioReturn relative to maximum drawdown

1.81

2.00

-0.19

Martin ratioReturn relative to average drawdown

6.05

7.69

-1.64

EIRL vs. IEUR - Sharpe Ratio Comparison

The current EIRL Sharpe Ratio is 1.44, which is comparable to the IEUR Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of EIRL 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.

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Drawdowns

EIRL vs. IEUR - Drawdown Comparison

The maximum EIRL drawdown since its inception was -46.48%, which is greater than IEUR's maximum drawdown of -36.96%. Use the drawdown chart below to compare losses from any high point for EIRL and IEUR.

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Drawdown Indicators

EIRLIEURDifference

Max Drawdown

Largest peak-to-trough decline

-46.48%

-36.96%

-9.52%

Max Drawdown (1Y)

Largest decline over 1 year

-14.28%

-12.04%

-2.24%

Max Drawdown (3Y)

Largest decline over 3 years

-23.04%

-14.25%

-8.79%

Max Drawdown (5Y)

Largest decline over 5 years

-40.14%

-32.75%

-7.39%

Max Drawdown (10Y)

Largest decline over 10 years

-46.48%

-36.96%

-9.52%

Current Drawdown

Current decline from peak

-1.05%

-0.08%

-0.97%

Average Drawdown

Average peak-to-trough decline

-9.02%

-8.13%

-0.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.26%

3.12%

+1.14%

Volatility

EIRL vs. IEUR - Volatility Comparison

iShares MSCI Ireland ETF (EIRL) and iShares Core MSCI Europe ETF (IEUR) have volatilities of 4.26% and 4.09%, 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.

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Volatility by Period

EIRLIEURDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.26%

4.09%

+0.17%

Volatility (6M)

Calculated over the trailing 6-month period

15.30%

13.68%

+1.62%

Volatility (1Y)

Calculated over the trailing 1-year period

17.96%

15.78%

+2.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.10%

17.81%

+3.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.20%

18.23%

+2.97%

EIRL vs. IEUR - Expense Ratio Comparison

EIRL has a 0.49% expense ratio, which is higher than IEUR's 0.09% expense ratio.

Dividends

EIRL vs. IEUR - Dividend Comparison

EIRL's dividend yield for the trailing twelve months is around 2.37%, less than IEUR's 3.11% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IEUR
iShares Core MSCI Europe ETF		3.11%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

EIRL and IEUR have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EIRL has higher volatility (4.26%) compared to IEUR (4.09%). In terms of maximum drawdown, EIRL dropped -46.48% vs IEUR's -36.96%.

On 10-year performance, IEUR leads with 9.93% vs 9.76% for EIRL. On fees, IEUR is cheaper at 0.09% per year. On volatility, IEUR has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IEUR has performed better with a 9.93% return vs 9.76%. 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 0.49% for EIRL.

IEUR has the higher dividend yield at 3.11%, compared with 2.37% for EIRL.

EIRL tracks MSCI Ireland Investable Market 25/50 Index, while IEUR tracks MSCI Europe Investable Market Index. Their fees differ too: 0.49% for EIRL and 0.09% for IEUR.

IEUR currently has the higher Sharpe Ratio (1.53 vs 1.44), 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.

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