EMNU.DE vs. EUEA.AS
EMNU.DE (iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)) and EUEA.AS (iShares EURO STOXX 50 UCITS ETF) are both Europe Equities funds from iShares - EMNU.DE tracks the MSCI Europe ESG Enhanced Focus while EUEA.AS tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 5 years, EMNU.DE returned 8.68%/yr vs 11.52%/yr for EUEA.AS. Their correlation of 0.94 suggests significant overlap in exposure. EMNU.DE charges 0.12%/yr vs 0.10%/yr for EUEA.AS.
Performance
EMNU.DE vs. EUEA.AS - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with EMNU.DE having a 7.48% return and EUEA.AS slightly lower at 7.45%.
EMNU.DE
- 1D
- 0.54%
- 1M
- 3.45%
- YTD
- 7.48%
- 6M
- 10.07%
- 1Y
- 15.83%
- 3Y*
- 12.86%
- 5Y*
- 8.68%
- 10Y*
- —
EUEA.AS
- 1D
- 0.82%
- 1M
- 4.69%
- YTD
- 7.45%
- 6M
- 8.63%
- 1Y
- 15.80%
- 3Y*
- 15.60%
- 5Y*
- 11.52%
- 10Y*
- 10.53%
EMNU.DE vs. EUEA.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 7.48% | 17.95% | 7.97% | 15.57% | -12.29% | 25.49% | -1.40% | 11.32% |
EUEA.AS iShares EURO STOXX 50 UCITS ETF | 7.45% | 21.70% | 11.49% | 23.09% | -9.29% | 24.04% | -2.55% | 11.80% |
Correlation
The correlation between EMNU.DE and EUEA.AS is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | 0.94 |
The correlation between EMNU.DE and EUEA.AS has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
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Return for Risk
EMNU.DE vs. EUEA.AS — Risk / Return Rank
EMNU.DE
EUEA.AS
EMNU.DE vs. EUEA.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.DE) and iShares EURO STOXX 50 UCITS ETF (EUEA.AS). 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.
| EMNU.DE | EUEA.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.18 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 1.43 | +0.15 |
| Martin ratioReturn relative to average drawdown | 5.60 | 4.86 | +0.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMNU.DE | EUEA.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 0.99 | +0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.65 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.57 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.12 | +0.45 |
Drawdowns
EMNU.DE vs. EUEA.AS - Drawdown Comparison
The maximum EMNU.DE drawdown since its inception was -34.85%, smaller than the maximum EUEA.AS drawdown of -62.53%. Use the drawdown chart below to compare losses from any high point for EMNU.DE and EUEA.AS.
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Drawdown Indicators
| EMNU.DE | EUEA.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.85% | -62.53% | +27.68% |
Max Drawdown (1Y)Largest decline over 1 year | -10.00% | -10.91% | +0.91% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | -16.32% | -0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -21.72% | -23.35% | +1.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.22% | — |
Current DrawdownCurrent decline from peak | -1.59% | -0.49% | -1.10% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -24.30% | +18.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 3.22% | -0.40% |
Volatility
EMNU.DE vs. EUEA.AS - Volatility Comparison
The current volatility for iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.DE) is 4.34%, while iShares EURO STOXX 50 UCITS ETF (EUEA.AS) has a volatility of 4.91%. This indicates that EMNU.DE experiences smaller price fluctuations and is considered to be less risky than EUEA.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMNU.DE | EUEA.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 4.91% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 10.77% | 12.92% | -2.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.16% | 15.80% | -2.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.40% | 17.37% | -2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 18.11% | -1.52% |
EMNU.DE vs. EUEA.AS - Expense Ratio Comparison
EMNU.DE has a 0.12% expense ratio, which is higher than EUEA.AS's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EMNU.DE vs. EUEA.AS - Dividend Comparison
EMNU.DE's dividend yield for the trailing twelve months is around 2.40%, less than EUEA.AS's 2.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 2.40% | 2.58% | 2.92% | 2.80% | 3.02% | 2.25% | 1.90% | 2.63% | 0.00% | 0.00% | 0.00% | 0.00% |
EUEA.AS iShares EURO STOXX 50 UCITS ETF | 2.55% | 2.52% | 3.01% | 3.02% | 2.94% | 2.05% | 2.16% | 3.05% | 3.67% | 2.85% | 3.38% | 2.96% |
Frequently Asked Questions
With a correlation of 0.93, EMNU.DE and EUEA.AS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, EUEA.AS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUEA.AS is cheaper with a 0.10% expense ratio, compared with 0.12% for EMNU.DE.
EMNU.DE tracks MSCI Europe ESG Enhanced Focus, while EUEA.AS tracks MSCI EMU NR EUR. Their fees differ too: 0.12% for EMNU.DE and 0.10% for EUEA.AS.
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