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EMUD.L vs. EEI.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMUD.L vs. EEI.L

Last updated Jun 6, 2026

EMUD.L (iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist)) and EEI.L (WisdomTree Europe Equity Income UCITS ETF) are both Europe Equities funds - EMUD.L tracks the MSCI EMU NR EUR while EEI.L tracks the MSCI Europe High Div Yld NR EUR. Both are passively managed. Over the past 5 years, EMUD.L returned 10.33%/yr vs 12.66%/yr for EEI.L. Their correlation of 0.82 suggests significant overlap in exposure. EMUD.L charges 0.12%/yr vs 0.29%/yr for EEI.L.

Performance

EMUD.L vs. EEI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist) (EMUD.L) and WisdomTree Europe Equity Income UCITS ETF (EEI.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

EMUD.L is traded in GBP, while EEI.L is traded in GBp. To make them comparable, the EEI.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, EMUD.L achieves a 7.24% return, which is significantly lower than EEI.L's 12.80% return.

EMUD.L

1D
-0.77%
1M
1.58%
YTD
7.24%
6M
8.92%
1Y
19.93%
3Y*
15.66%
5Y*
10.33%
10Y*
—

EEI.L

1D
0.62%
1M
0.49%
YTD
12.80%
6M
15.98%
1Y
30.02%
3Y*
17.46%
5Y*
12.66%
10Y*
9.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMUD.L vs. EEI.L - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
EMUD.L
iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist)		7.24%28.28%5.84%16.22%-6.92%14.62%7.63%-1.68%
EEI.L
WisdomTree Europe Equity Income UCITS ETF		12.80%34.65%-1.53%12.32%6.32%11.17%-13.91%9.52%

Correlation

The correlation between EMUD.L and EEI.L is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.71

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.78

Correlation (All Time)
Calculated using the full available price history since Mar 11, 2019

0.82

The correlation between EMUD.L and EEI.L shifts across timeframes, from 0.71 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.

EMUD.L vs. EEI.L - Sectors Allocation Comparison

Sectors
EMUD.L
EEI.L

Financial Services

24.6%
24.7%

Industrials

20.5%
15.3%

Technology

17.0%
1.5%

Consumer Cyclical

6.9%
3.3%

Utilities

6.7%
16.7%

Healthcare

5.7%
2.8%

Consumer Defensive

5.6%
2.3%

Communication Services

5.2%
8.6%

Energy

3.2%
11.6%

Basic Materials

2.2%
8.3%

Real Estate

1.5%
4.8%

Financial Services

EMUD.L
24.6%
EEI.L
24.7%

Industrials

EMUD.L
20.5%
EEI.L
15.3%

Technology

EMUD.L
17.0%
EEI.L
1.5%

Consumer Cyclical

EMUD.L
6.9%
EEI.L
3.3%

Utilities

EMUD.L
6.7%
EEI.L
16.7%

Healthcare

EMUD.L
5.7%
EEI.L
2.8%

Consumer Defensive

EMUD.L
5.6%
EEI.L
2.3%

Communication Services

EMUD.L
5.2%
EEI.L
8.6%

Energy

EMUD.L
3.2%
EEI.L
11.6%

Basic Materials

EMUD.L
2.2%
EEI.L
8.3%

Real Estate

EMUD.L
1.5%
EEI.L
4.8%

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 EMU ESG Enhanced UCITS ETF EUR (Dist)

WisdomTree Europe Equity Income UCITS ETF

Often compared with EMUD.L:
EMUD.L vs. GLDEMUD.L vs. LDEG.LEMUD.L vs. MVED.LEMUD.L vs. CNDX.LEMUD.L vs. HDEU.LEMUD.L vs. IITU.LEMUD.L vs. IMV.L
Often compared with EEI.L:
EEI.L vs. EEIP.LEEI.L vs. FEUI.LEEI.L vs. FEQD.LEEI.L vs. FEUQ.DEEEI.L vs. IUKD.LEEI.L vs. SDUE.LEEI.L vs. BTCW

Return for Risk

EMUD.L vs. EEI.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMUD.L
EMUD.L Risk / Return Rank: 4343
Overall Rank
EMUD.L Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
EMUD.L Sortino Ratio Rank: 4545
Sortino Ratio Rank
EMUD.L Omega Ratio Rank: 4545
Omega Ratio Rank
EMUD.L Calmar Ratio Rank: 3939
Calmar Ratio Rank
EMUD.L Martin Ratio Rank: 4242
Martin Ratio Rank
EEI.L
EEI.L Risk / Return Rank: 8383
Overall Rank
EEI.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
EEI.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
EEI.L Omega Ratio Rank: 8686
Omega Ratio Rank
EEI.L Calmar Ratio Rank: 7676
Calmar Ratio Rank
EEI.L Martin Ratio Rank: 8181
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EMUD.L vs. EEI.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist) (EMUD.L) and WisdomTree Europe Equity Income UCITS ETF (EEI.L). 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.

EMUD.LEEI.LDifference
Sharpe ratioReturn per unit of total volatility
1.39
2.65

-1.26

Sortino ratioReturn per unit of downside risk
2.01
3.49

-1.48

Omega ratioGain probability vs. loss probability

1.26

1.49

-0.23

Calmar ratioReturn relative to maximum drawdown

1.74

3.60

-1.87

Martin ratioReturn relative to average drawdown

6.12

14.95

-8.83

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMUD.L vs. EEI.L - Sharpe Ratio Comparison

The current EMUD.L Sharpe Ratio is 1.39, which is lower than the EEI.L Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of EMUD.L and EEI.L, 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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Sharpe Ratios by Period

EMUD.LEEI.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.39

2.65

-1.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.64

0.96

-0.32

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.62

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.38

+0.13

Drawdowns

EMUD.L vs. EEI.L - Drawdown Comparison

The maximum EMUD.L drawdown since its inception was -30.31%, smaller than the maximum EEI.L drawdown of -34.11%. Use the drawdown chart below to compare losses from any high point for EMUD.L and EEI.L.

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Drawdown Indicators

EMUD.LEEI.LDifference

Max Drawdown

Largest peak-to-trough decline

-30.31%

-34.11%

+3.80%

Max Drawdown (1Y)

Largest decline over 1 year

-11.43%

-8.29%

-3.14%

Max Drawdown (3Y)

Largest decline over 3 years

-12.65%

-11.04%

-1.61%

Max Drawdown (5Y)

Largest decline over 5 years

-22.28%

-14.62%

-7.66%

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.11%

—

Current Drawdown

Current decline from peak

-1.03%

-0.36%

-0.67%

Average Drawdown

Average peak-to-trough decline

-5.21%

-8.02%

+2.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.25%

2.00%

+1.25%

Volatility

EMUD.L vs. EEI.L - Volatility Comparison

iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist) (EMUD.L) has a higher volatility of 3.80% compared to WisdomTree Europe Equity Income UCITS ETF (EEI.L) at 3.04%. This indicates that EMUD.L's price experiences larger fluctuations and is considered to be riskier than EEI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMUD.LEEI.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.80%

3.04%

+0.76%

Volatility (6M)

Calculated over the trailing 6-month period

11.85%

8.56%

+3.29%

Volatility (1Y)

Calculated over the trailing 1-year period

14.29%

11.29%

+3.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.24%

13.24%

+3.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.47%

15.19%

+3.28%

EMUD.L vs. EEI.L - Expense Ratio Comparison

EMUD.L has a 0.12% expense ratio, which is lower than EEI.L's 0.29% expense ratio.

Dividends

EMUD.L vs. EEI.L - Dividend Comparison

EMUD.L's dividend yield for the trailing twelve months is around 2.79%, less than EEI.L's 4.55% yield.

PositionTTM20252024202320222021202020192018201720162015
EEI.L
WisdomTree Europe Equity Income UCITS ETF		4.55%5.26%6.91%5.58%5.08%4.86%3.91%4.79%4.73%3.96%3.47%4.48%
EMUD.L
iShares MSCI EMU ESG Enhanced UCITS ETF EUR (Dist)		2.79%3.00%3.54%3.13%3.23%2.45%1.87%3.04%0.00%0.00%0.00%0.00%

Frequently Asked Questions

EMUD.L and EEI.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, EMUD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EMUD.L is cheaper with a 0.12% expense ratio, compared with 0.29% for EEI.L.

EMUD.L tracks MSCI EMU NR EUR, while EEI.L tracks MSCI Europe High Div Yld NR EUR. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.12% for EMUD.L and 0.29% for EEI.L.

Portfolio Optimizer

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