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ESTX.AX vs. IVE.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ESTX.AX vs. IVE.AX

Last updated Jul 18, 2026
Documentation

ESTX.AX (Global X EURO STOXX 50 ETF) and IVE.AX (iShares MSCI EAFE ETF (AU)) are both Global Equities funds - ESTX.AX tracks the EURO STOXX 50 Index while IVE.AX tracks the iShares MSCI EAFE Index. Both are passively managed. Over the past 10 years, ESTX.AX returned 11.39%/yr vs 9.87%/yr for IVE.AX. A 0.79 correlation means they provide meaningful diversification when combined.

Performance

ESTX.AX vs. IVE.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Global X EURO STOXX 50 ETF (ESTX.AX) and iShares MSCI EAFE ETF (AU) (IVE.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ESTX.AX achieves a 1.82% return, which is significantly lower than IVE.AX's 3.52% return. Over the past 10 years, ESTX.AX has outperformed IVE.AX with an annualized return of 11.39%, while IVE.AX has yielded a comparatively lower 9.87% annualized return.

ESTX.AX

1D
-1.36%
1M
-0.65%
6M
-1.28%
YTD
1.82%
1Y
7.94%
3Y*
14.40%
5Y*
11.84%
10Y*
11.39%

IVE.AX

1D
-1.72%
1M
-1.09%
6M
0.19%
YTD
3.52%
1Y
10.92%
3Y*
12.87%
5Y*
9.77%
10Y*
9.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ESTX.AX vs. IVE.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ESTX.AX
Global X EURO STOXX 50 ETF		1.82%27.21%13.48%23.32%-7.46%18.99%-2.51%27.06%-8.09%15.99%
IVE.AX
iShares MSCI EAFE ETF (AU)		3.52%21.53%11.29%16.82%-6.23%16.98%-0.38%22.82%-3.05%14.57%

Correlation

The correlation between ESTX.AX and IVE.AX is 0.86, 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

0.86

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

0.84

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

0.85

Correlation (10Y)
Calculated over the trailing 10-year period

0.79

Correlation (All Time)
Calculated using the full available price history since Jul 19, 2016

0.79

The correlation between ESTX.AX and IVE.AX has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X EURO STOXX 50 ETF

iShares MSCI EAFE ETF (AU)

Often compared with ESTX.AX:
ESTX.AX vs. ACDC.AXESTX.AX vs. BANK.AXESTX.AX vs. CORE.AXESTX.AX vs. CURE.AXESTX.AX vs. ESGI.AXESTX.AX vs. ETHI.AXESTX.AX vs. F100.AX
Often compared with IVE.AX:
IVE.AX vs. AUMF.AXIVE.AX vs. BILL.AXIVE.AX vs. CORE.AXIVE.AX vs. ESGI.AXIVE.AX vs. F100.AXIVE.AX vs. GLDN.AXIVE.AX vs. GLIN.AX

Return for Risk

ESTX.AX vs. IVE.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ESTX.AX
ESTX.AX Risk / Return Rank: 1919
Overall Rank
ESTX.AX Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
ESTX.AX Sortino Ratio Rank: 1919
Sortino Ratio Rank
ESTX.AX Omega Ratio Rank: 1919
Omega Ratio Rank
ESTX.AX Calmar Ratio Rank: 1818
Calmar Ratio Rank
ESTX.AX Martin Ratio Rank: 2020
Martin Ratio Rank
IVE.AX
IVE.AX Risk / Return Rank: 3030
Overall Rank
IVE.AX Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
IVE.AX Sortino Ratio Rank: 3030
Sortino Ratio Rank
IVE.AX Omega Ratio Rank: 3131
Omega Ratio Rank
IVE.AX Calmar Ratio Rank: 2727
Calmar Ratio Rank
IVE.AX Martin Ratio Rank: 3131
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.

ESTX.AX vs. IVE.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X EURO STOXX 50 ETF (ESTX.AX) and iShares MSCI EAFE ETF (AU) (IVE.AX). 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.

ESTX.AXIVE.AXDifference
Sharpe ratioReturn per unit of total volatility
0.49
0.85

-0.36

Sortino ratioReturn per unit of downside risk
0.79
1.26

-0.47

Omega ratioGain probability vs. loss probability

1.10

1.17

-0.06

Calmar ratioReturn relative to maximum drawdown

0.53

0.99

-0.46

Martin ratioReturn relative to average drawdown

1.54

3.36

-1.81

ESTX.AX vs. IVE.AX - Sharpe Ratio Comparison

The current ESTX.AX Sharpe Ratio is 0.49, which is lower than the IVE.AX Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of ESTX.AX and IVE.AX, 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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Drawdowns

ESTX.AX vs. IVE.AX - Drawdown Comparison

The maximum ESTX.AX drawdown since its inception was -29.33%, smaller than the maximum IVE.AX drawdown of -45.63%. Use the drawdown chart below to compare losses from any high point for ESTX.AX and IVE.AX.

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Drawdown Indicators

ESTX.AXIVE.AXDifference

Max Drawdown

Largest peak-to-trough decline

-29.33%

-45.63%

+16.30%

Max Drawdown (1Y)

Largest decline over 1 year

-14.48%

-10.66%

-3.82%

Max Drawdown (3Y)

Largest decline over 3 years

-14.48%

-10.66%

-3.82%

Max Drawdown (5Y)

Largest decline over 5 years

-26.60%

-19.28%

-7.32%

Max Drawdown (10Y)

Largest decline over 10 years

-29.33%

-24.20%

-5.13%

Current Drawdown

Current decline from peak

-3.97%

-3.35%

-0.62%

Average Drawdown

Average peak-to-trough decline

-5.29%

-13.68%

+8.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.05%

3.18%

+1.87%

Volatility

ESTX.AX vs. IVE.AX - Volatility Comparison

Global X EURO STOXX 50 ETF (ESTX.AX) and iShares MSCI EAFE ETF (AU) (IVE.AX) have volatilities of 3.41% and 3.31%, 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.

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Volatility by Period

ESTX.AXIVE.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.41%

3.31%

+0.10%

Volatility (6M)

Calculated over the trailing 6-month period

13.63%

10.99%

+2.64%

Volatility (1Y)

Calculated over the trailing 1-year period

15.76%

12.52%

+3.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.36%

12.14%

+4.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.24%

12.77%

+3.47%

Dividends

ESTX.AX vs. IVE.AX - Dividend Comparison

ESTX.AX's dividend yield for the trailing twelve months is around 7.35%, more than IVE.AX's 3.65% yield.

PositionTTM2025202420232022202120202019201820172016
ESTX.AX
Global X EURO STOXX 50 ETF		7.35%1.79%4.19%3.67%3.90%1.60%2.15%2.79%4.16%1.15%0.15%
IVE.AX
iShares MSCI EAFE ETF (AU)		3.65%3.54%1.59%2.76%3.74%3.49%2.53%4.82%3.37%1.17%0.00%

Frequently Asked Questions

ESTX.AX and IVE.AX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ESTX.AX tracks EURO STOXX 50 Index, while IVE.AX tracks iShares MSCI EAFE Index. They also come from different issuers: Global X and iShares.

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