ESIF.L vs. TDGB.L

Last updated Jun 5, 2026

ESIF.L (iShares MSCI Europe Financials Sector UCITS ETF) and TDGB.L (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) are both exchange-traded funds - ESIF.L is a Financials Equities fund tracking the MSCI World/Financials NR USD, while TDGB.L is a Global Equities fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. Both are passively managed. Over the past 5 years, ESIF.L returned 19.63%/yr vs 17.70%/yr for TDGB.L. A 0.70 correlation means they provide meaningful diversification when combined. ESIF.L charges 0.18%/yr vs 0.38%/yr for TDGB.L.

Performance

ESIF.L vs. TDGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Europe Financials Sector UCITS ETF (ESIF.L) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESIF.L achieves a 3.13% return, which is significantly lower than TDGB.L's 8.92% return.

ESIF.L

• 1D: 0.83%
• 1M: 3.69%
• YTD: 3.13%
• 6M: 9.24%
• 1Y: 25.77%
• 3Y*: 29.07%
• 5Y*: 19.63%
• 10Y*: —

TDGB.L

• 1D: 0.48%
• 1M: 0.92%
• YTD: 8.92%
• 6M: 11.81%
• 1Y: 29.32%
• 3Y*: 20.13%
• 5Y*: 17.70%
• 10Y*: —

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

ESIF.L vs. TDGB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ESIF.L iShares MSCI Europe Financials Sector UCITS ETF	3.13%	54.55%	20.09%	18.81%	3.59%	20.48%	2.82%
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	8.92%	30.88%	10.65%	9.06%	22.49%	19.59%	1.06%

Correlation

The correlation between ESIF.L and TDGB.L is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Nov 24, 2020	0.70

The correlation between ESIF.L and TDGB.L shifts across timeframes, from 0.55 (1 year) to 0.71 (3 years), reflecting how their relationship changes across market environments.

ESIF.L vs. TDGB.L - Sectors Allocation Comparison

Sectors	ESIF.L	TDGB.L
Financial Services	96.9%	31.7%
Technology	1.0%	0.3%
Industrials	0.4%	3.9%
Consumer Cyclical	0.2%	3.8%
Basic Materials	-	1.2%
Communication Services	-	8.7%
Consumer Defensive	-	10.1%
Energy	-	19.7%
Healthcare	-	14.4%
Real Estate	-	0.0%
Utilities	-	6.2%

Return for Risk

ESIF.L vs. TDGB.L — Risk / Return Rank

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

ESIF.L

ESIF.L Risk / Return Rank: 44
ESIF.L Sharpe Ratio Rank: 43
ESIF.L Sortino Ratio Rank: 43
ESIF.L Omega Ratio Rank: 42
ESIF.L Calmar Ratio Rank: 45
ESIF.L Martin Ratio Rank: 47

TDGB.L

TDGB.L Risk / Return Rank: 91
TDGB.L Sharpe Ratio Rank: 91
TDGB.L Sortino Ratio Rank: 92
TDGB.L Omega Ratio Rank: 91
TDGB.L Calmar Ratio Rank: 92
TDGB.L Martin Ratio Rank: 90

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.

ESIF.L vs. TDGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Financials Sector UCITS ETF (ESIF.L) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.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.

	ESIF.L	TDGB.L	Difference
Sharpe ratio: Return per unit of total volatility	1.50	3.15	-1.64
Sortino ratio: Return per unit of downside risk	2.13	4.38	-2.26
Omega ratio: Gain probability vs. loss probability	1.27	1.59	-0.32
Calmar ratio: Return relative to maximum drawdown	2.20	6.26	-4.06
Martin ratio: Return relative to average drawdown	7.65	20.72	-13.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESIF.L vs. TDGB.L - Sharpe Ratio Comparison

The current ESIF.L Sharpe Ratio is 1.50, which is lower than the TDGB.L Sharpe Ratio of 3.15. The chart below compares the historical Sharpe Ratios of ESIF.L and TDGB.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

	ESIF.L	TDGB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	3.15	-1.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.07	1.55	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.98	+0.20

Drawdowns

ESIF.L vs. TDGB.L - Drawdown Comparison

The maximum ESIF.L drawdown since its inception was -23.55%, smaller than the maximum TDGB.L drawdown of -29.60%. Use the drawdown chart below to compare losses from any high point for ESIF.L and TDGB.L.

Drawdown Indicators

	ESIF.L	TDGB.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.55%	-29.60%	+6.05%
Max Drawdown (1Y) Largest decline over 1 year	-11.68%	-4.66%	-7.02%
Max Drawdown (3Y) Largest decline over 3 years	-14.26%	-12.41%	-1.85%
Max Drawdown (5Y) Largest decline over 5 years	-23.55%	-12.41%	-11.14%
Current Drawdown Current decline from peak	-1.84%	-1.47%	-0.37%
Average Drawdown Average peak-to-trough decline	-4.12%	-3.70%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	1.41%	+1.95%

Volatility

ESIF.L vs. TDGB.L - Volatility Comparison

iShares MSCI Europe Financials Sector UCITS ETF (ESIF.L) has a higher volatility of 5.32% compared to VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L) at 2.49%. This indicates that ESIF.L's price experiences larger fluctuations and is considered to be riskier than TDGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESIF.L	TDGB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	2.49%	+2.83%
Volatility (6M) Calculated over the trailing 6-month period	14.15%	7.01%	+7.14%
Volatility (1Y) Calculated over the trailing 1-year period	17.09%	9.28%	+7.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.32%	11.42%	+6.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.22%	14.44%	+3.78%

ESIF.L vs. TDGB.L - Expense Ratio Comparison

ESIF.L has a 0.18% expense ratio, which is lower than TDGB.L's 0.38% expense ratio.

Dividends

ESIF.L vs. TDGB.L - Dividend Comparison

ESIF.L has not paid dividends to shareholders, while TDGB.L's dividend yield for the trailing twelve months is around 3.20%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ESIF.L iShares MSCI Europe Financials Sector UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	3.20%	3.50%	4.27%	4.93%	4.40%	4.06%	4.16%	4.52%

Frequently Asked Questions

Can I hold both ESIF.L and TDGB.L in my portfolio?

ESIF.L and TDGB.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESIF.L or TDGB.L?

On fees, ESIF.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESIF.L or TDGB.L?

ESIF.L is cheaper with a 0.18% expense ratio, compared with 0.38% for TDGB.L.

What is the main difference between ESIF.L and TDGB.L?

ESIF.L is categorized as Financials Equities, while TDGB.L is Global Equities. ESIF.L tracks MSCI World/Financials NR USD, while TDGB.L tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.18% for ESIF.L and 0.38% for TDGB.L.