PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EIRL vs. SPEU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EIRL vs. SPEU

Last updated Aug 4, 2026
Documentation

EIRL (iShares MSCI Ireland ETF) and SPEU (SPDR Portfolio Europe ETF) are both Europe Equities funds - EIRL tracks the MSCI Ireland Investable Market 25/50 Index while SPEU tracks the STOXX Europe Total Market Index. Both are passively managed. Over the past 10 years, EIRL returned 9.76%/yr vs 9.89%/yr for SPEU. Their 0.72 correlation means they have sometimes moved together and sometimes differently. EIRL charges 0.49%/yr vs 0.07%/yr for SPEU.

Performance

EIRL vs. SPEU - Performance Comparison

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

Loading charts...

Returns By Period

The year-to-date returns for both investments are quite close, with EIRL having a 10.04% return and SPEU slightly higher at 10.30%. Both investments have delivered pretty close results over the past 10 years, with EIRL having a 9.76% annualized return and SPEU not far ahead at 9.89%.

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%

SPEU

1D
0.43%
1M
1.57%
6M
4.71%
YTD
10.30%
1Y
23.99%
3Y*
17.35%
5Y*
8.97%
10Y*
9.89%
ALL TIME*
7.04%
*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

SPEU

SPDR Portfolio Europe ETF
$1.30M$1.27M$1.69M

EIRL vs. SPEU - 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%
SPEU
SPDR Portfolio Europe ETF		10.30%35.80%1.93%19.85%-15.97%16.20%6.35%26.15%-13.79%23.80%

Correlation

The correlation between EIRL and SPEU 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.

0.82

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

0.78

Correlation (All Time)
Calculated using the full available price history since May 11, 2010

0.72

The correlation between EIRL and SPEU shifts across timeframes, from 0.72 (all time) to 0.82 (5 years), reflecting how their relationship changes across market environments.

EIRL vs. SPEU - Sectors Allocation Comparison

Sectors
EIRL
SPEU

Financial Services

39.6%
23.7%

Consumer Defensive

19.5%
8.0%

Healthcare

10.9%
12.6%

Industrials

10.4%
20.2%

Consumer Cyclical

8.5%
7.1%

Basic Materials

4.3%
5.3%

Energy

4.3%
4.6%

Utilities

4.3%
4.5%

Real Estate

2.0%
1.5%

Technology

0.2%
9.8%

Communication Services

0.0%
2.8%

Financial Services

EIRL
39.6%
SPEU
23.7%

Consumer Defensive

EIRL
19.5%
SPEU
8.0%

Healthcare

EIRL
10.9%
SPEU
12.6%

Industrials

EIRL
10.4%
SPEU
20.2%

Consumer Cyclical

EIRL
8.5%
SPEU
7.1%

Basic Materials

EIRL
4.3%
SPEU
5.3%

Energy

EIRL
4.3%
SPEU
4.6%

Utilities

EIRL
4.3%
SPEU
4.5%

Real Estate

EIRL
2.0%
SPEU
1.5%

Technology

EIRL
0.2%
SPEU
9.8%

Communication Services

EIRL
0.0%
SPEU
2.8%

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

SPDR Portfolio Europe ETF

Often compared with EIRL:
EIRL vs. EPOLEIRL vs. EUFNEIRL vs. EWQEIRL vs. EWIEIRL vs. EWPEIRL vs. ENZLEIRL vs. EWZS
Often compared with SPEU:
SPEU vs. VGKSPEU vs. IEVSPEU vs. FLEESPEU vs. GMFSPEU vs. VXUSSPEU vs. IEUSSPEU vs. IOO

Return for Risk

EIRL vs. SPEU — 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
SPEU
SPEU Risk / Return Rank: 6161
Overall Rank
SPEU Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
SPEU Sortino Ratio Rank: 6464
Sortino Ratio Rank
SPEU Omega Ratio Rank: 6161
Omega Ratio Rank
SPEU Calmar Ratio Rank: 5454
Calmar Ratio Rank
SPEU Martin Ratio Rank: 6060
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. SPEU - Risk-Adjusted Trends Comparison

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

EIRLSPEUDifference
Sharpe ratioReturn per unit of total volatility
1.44
1.52

-0.08

Sortino ratioReturn per unit of downside risk
2.13
2.20

-0.07

Omega ratioGain probability vs. loss probability

1.27

1.27

0.00

Calmar ratioReturn relative to maximum drawdown

1.81

1.99

-0.18

Martin ratioReturn relative to average drawdown

6.05

7.47

-1.42

EIRL vs. SPEU - Sharpe Ratio Comparison

The current EIRL Sharpe Ratio is 1.44, which is comparable to the SPEU Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of EIRL and SPEU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

EIRL vs. SPEU - Drawdown Comparison

The maximum EIRL drawdown since its inception was -46.48%, smaller than the maximum SPEU drawdown of -62.45%. Use the drawdown chart below to compare losses from any high point for EIRL and SPEU.

Loading charts...

Drawdown Indicators

EIRLSPEUDifference

Max Drawdown

Largest peak-to-trough decline

-46.48%

-62.45%

+15.97%

Max Drawdown (1Y)

Largest decline over 1 year

-14.28%

-12.09%

-2.19%

Max Drawdown (3Y)

Largest decline over 3 years

-23.04%

-14.17%

-8.87%

Max Drawdown (5Y)

Largest decline over 5 years

-40.14%

-32.70%

-7.44%

Max Drawdown (10Y)

Largest decline over 10 years

-46.48%

-36.83%

-9.65%

Current Drawdown

Current decline from peak

-1.05%

-0.03%

-1.02%

Average Drawdown

Average peak-to-trough decline

-9.02%

-13.76%

+4.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.26%

3.22%

+1.04%

Volatility

EIRL vs. SPEU - Volatility Comparison

iShares MSCI Ireland ETF (EIRL) has a higher volatility of 4.26% compared to SPDR Portfolio Europe ETF (SPEU) at 4.03%. This indicates that EIRL's price experiences larger fluctuations and is considered to be riskier than SPEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

EIRLSPEUDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.26%

4.03%

+0.23%

Volatility (6M)

Calculated over the trailing 6-month period

15.30%

13.75%

+1.55%

Volatility (1Y)

Calculated over the trailing 1-year period

17.96%

15.86%

+2.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.10%

17.58%

+3.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.20%

18.15%

+3.05%

EIRL vs. SPEU - Expense Ratio Comparison

EIRL has a 0.49% expense ratio, which is higher than SPEU's 0.07% expense ratio.

Dividends

EIRL vs. SPEU - Dividend Comparison

EIRL's dividend yield for the trailing twelve months is around 2.37%, less than SPEU's 3.35% 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%
SPEU
SPDR Portfolio Europe ETF		3.35%3.47%3.29%2.91%3.08%2.67%2.29%3.19%3.99%2.82%3.66%3.62%

Frequently Asked Questions

EIRL and SPEU 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 SPEU (4.03%). In terms of maximum drawdown, EIRL dropped -46.48% vs SPEU's -62.45%.

On 10-year performance, SPEU leads with 9.89% vs 9.76% for EIRL. On fees, SPEU is cheaper at 0.07% per year. On volatility, SPEU has been the lower-risk option at 4.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPEU has performed better with a 9.89% return vs 9.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPEU is cheaper with a 0.07% expense ratio, compared with 0.49% for EIRL.

SPEU has the higher dividend yield at 3.35%, compared with 2.37% for EIRL.

EIRL tracks MSCI Ireland Investable Market 25/50 Index, while SPEU tracks STOXX Europe Total Market Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.49% for EIRL and 0.07% for SPEU.

SPEU currently has the higher Sharpe Ratio (1.52 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.

Portfolio Optimizer

Find the right allocation for EIRL and SPEU

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer