ESGE.L vs. FEUD.L

Last updated Jun 5, 2026

ESGE.L (Invesco MSCI Europe ESG Universal Screened UCITS ETF Acc) and FEUD.L (First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares) are both Europe Equities funds - ESGE.L tracks the MSCI Europe NR EUR while FEUD.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 5 years, ESGE.L returned 9.45%/yr vs 11.77%/yr for FEUD.L. At a 0.41 correlation, their price movements are largely independent. ESGE.L charges 0.16%/yr vs 0.75%/yr for FEUD.L.

Performance

ESGE.L vs. FEUD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco MSCI Europe ESG Universal Screened UCITS ETF Acc (ESGE.L) and First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares (FEUD.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESGE.L achieves a 7.19% return, which is significantly lower than FEUD.L's 12.54% return.

ESGE.L

• 1D: 0.53%
• 1M: 1.49%
• YTD: 7.19%
• 6M: 9.58%
• 1Y: 19.91%
• 3Y*: 14.26%
• 5Y*: 9.45%
• 10Y*: —

FEUD.L

• 1D: 0.31%
• 1M: 0.70%
• YTD: 12.54%
• 6M: 15.33%
• 1Y: 32.92%
• 3Y*: 22.60%
• 5Y*: 11.77%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ESGE.L vs. FEUD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ESGE.L Invesco MSCI Europe ESG Universal Screened UCITS ETF Acc	7.19%	24.68%	3.94%	15.81%	-9.16%	16.00%	8.64%	3.36%
FEUD.L First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares	12.54%	47.89%	4.04%	10.07%	-9.74%	13.79%	0.98%	2.24%

Correlation

The correlation between ESGE.L and FEUD.L is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Dec 12, 2019	0.41

Over the past year, ESGE.L and FEUD.L have become more correlated (0.79) than their long-term average of 0.41, meaning their price movements have been converging.

ESGE.L vs. FEUD.L - Sectors Allocation Comparison

Sectors	ESGE.L	FEUD.L
Financial Services	28.3%	10.6%
Industrials	16.2%	27.4%
Healthcare	13.3%	5.2%
Technology	10.9%	6.0%
Consumer Defensive	9.3%	5.3%
Utilities	5.8%	8.3%
Consumer Cyclical	5.1%	9.2%
Basic Materials	4.6%	7.5%
Communication Services	3.0%	3.7%
Energy	2.3%	10.8%
Real Estate	1.0%	6.0%

Return for Risk

ESGE.L vs. FEUD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ESGE.L

ESGE.L Risk / Return Rank: 43
ESGE.L Sharpe Ratio Rank: 45
ESGE.L Sortino Ratio Rank: 45
ESGE.L Omega Ratio Rank: 46
ESGE.L Calmar Ratio Rank: 37
ESGE.L Martin Ratio Rank: 40

FEUD.L

FEUD.L Risk / Return Rank: 76
FEUD.L Sharpe Ratio Rank: 82
FEUD.L Sortino Ratio Rank: 77
FEUD.L Omega Ratio Rank: 81
FEUD.L Calmar Ratio Rank: 72
FEUD.L Martin Ratio Rank: 70

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.

ESGE.L vs. FEUD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Europe ESG Universal Screened UCITS ETF Acc (ESGE.L) and First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares (FEUD.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.

	ESGE.L	FEUD.L	Difference
Sharpe ratio: Return per unit of total volatility	1.55	2.60	-1.05
Sortino ratio: Return per unit of downside risk	2.22	3.38	-1.16
Omega ratio: Gain probability vs. loss probability	1.29	1.47	-0.19
Calmar ratio: Return relative to maximum drawdown	1.77	3.56	-1.80
Martin ratio: Return relative to average drawdown	6.33	12.70	-6.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESGE.L vs. FEUD.L - Sharpe Ratio Comparison

The current ESGE.L Sharpe Ratio is 1.55, which is lower than the FEUD.L Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of ESGE.L and FEUD.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.

Sharpe Ratios by Period

	ESGE.L	FEUD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	2.60	-1.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	0.79	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	0.56	+0.43

Drawdowns

ESGE.L vs. FEUD.L - Drawdown Comparison

The maximum ESGE.L drawdown since its inception was -20.25%, smaller than the maximum FEUD.L drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for ESGE.L and FEUD.L.

Drawdown Indicators

	ESGE.L	FEUD.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.25%	-34.17%	+13.92%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-10.60%	-0.70%
Max Drawdown (3Y) Largest decline over 3 years	-12.84%	-14.03%	+1.19%
Max Drawdown (5Y) Largest decline over 5 years	-18.44%	-23.21%	+4.77%
Current Drawdown Current decline from peak	-0.78%	-0.04%	-0.74%
Average Drawdown Average peak-to-trough decline	-3.49%	-6.69%	+3.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	2.85%	+0.31%

Volatility

ESGE.L vs. FEUD.L - Volatility Comparison

Invesco MSCI Europe ESG Universal Screened UCITS ETF Acc (ESGE.L) and First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares (FEUD.L) have volatilities of 4.17% and 3.98%, 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.

Volatility by Period

	ESGE.L	FEUD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	3.98%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	10.67%	11.63%	-0.96%
Volatility (1Y) Calculated over the trailing 1-year period	12.86%	14.52%	-1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.94%	17.64%	+4.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.97%	19.89%	+6.08%

ESGE.L vs. FEUD.L - Expense Ratio Comparison

ESGE.L has a 0.16% expense ratio, which is lower than FEUD.L's 0.75% expense ratio.

Dividends

ESGE.L vs. FEUD.L - Dividend Comparison

ESGE.L has not paid dividends to shareholders, while FEUD.L's dividend yield for the trailing twelve months is around 2.76%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ESGE.L Invesco MSCI Europe ESG Universal Screened UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FEUD.L First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares	2.76%	3.05%	3.72%	2.76%	2.50%	1.94%	1.01%	1.75%

Frequently Asked Questions

Can I hold both ESGE.L and FEUD.L in my portfolio?

ESGE.L and FEUD.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESGE.L or FEUD.L?

On fees, ESGE.L is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESGE.L or FEUD.L?

ESGE.L is cheaper with a 0.16% expense ratio, compared with 0.75% for FEUD.L.

What is the main difference between ESGE.L and FEUD.L?

ESGE.L tracks MSCI Europe NR EUR, while FEUD.L tracks MSCI EMU NR EUR. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.16% for ESGE.L and 0.75% for FEUD.L.