EUFN vs. EPU

Last updated Jun 13, 2026

EUFN (iShares MSCI Europe Financials ETF) and EPU (iShares MSCI Peru ETF) are both exchange-traded funds - EUFN is a Financials Equities fund tracking the MSCI Europe Financials Index, while EPU is a Mid Cap Blend Equities fund tracking the MSCI All Peru Capped Index. Both are passively managed. Over the past 10 years, EUFN returned 13.48%/yr vs 15.16%/yr for EPU. At a 0.49 correlation, their price movements are largely independent. EUFN charges 0.48%/yr vs 0.59%/yr for EPU.

Performance

EUFN vs. EPU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Europe Financials ETF (EUFN) and iShares MSCI Peru ETF (EPU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EUFN achieves a 4.75% return, which is significantly lower than EPU's 21.02% return. Over the past 10 years, EUFN has underperformed EPU with an annualized return of 13.48%, while EPU has yielded a comparatively higher 15.16% annualized return.

EUFN

• 1D: 1.20%
• 1M: 3.43%
• YTD: 4.75%
• 6M: 9.10%
• 1Y: 28.57%
• 3Y*: 32.04%
• 5Y*: 18.43%
• 10Y*: 13.48%

EPU

• 1D: 2.12%
• 1M: 4.37%
• YTD: 21.02%
• 6M: 26.87%
• 1Y: 85.51%
• 3Y*: 46.38%
• 5Y*: 28.15%
• 10Y*: 15.16%

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

EUFN vs. EPU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EUFN iShares MSCI Europe Financials ETF	4.75%	65.73%	17.20%	26.15%	-8.78%	19.13%	-8.55%	20.73%	-23.14%	26.94%
EPU iShares MSCI Peru ETF	21.02%	86.87%	21.73%	25.34%	2.05%	-11.81%	-4.31%	7.30%	-12.17%	29.70%

Correlation

The correlation between EUFN and EPU 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	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Feb 3, 2010	0.49

The correlation between EUFN and EPU has been stable across timeframes, ranging from 0.49 to 0.55 - a consistent structural relationship.

EUFN vs. EPU - Sectors Allocation Comparison

Sectors	EUFN	EPU
Financial Services	97.1%	28.8%
Technology	1.0%	-
Industrials	0.4%	2.8%
Consumer Cyclical	0.2%	4.1%
Basic Materials	-	52.7%
Communication Services	-	1.6%
Consumer Defensive	-	3.0%
Energy	-	-
Healthcare	-	1.2%
Real Estate	-	3.2%
Utilities	-	2.8%

Return for Risk

EUFN vs. EPU — Risk / Return Rank

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

EUFN

EUFN Risk / Return Rank: 42
EUFN Sharpe Ratio Rank: 42
EUFN Sortino Ratio Rank: 42
EUFN Omega Ratio Rank: 39
EUFN Calmar Ratio Rank: 41
EUFN Martin Ratio Rank: 44

EPU

EPU Risk / Return Rank: 82
EPU Sharpe Ratio Rank: 91
EPU Sortino Ratio Rank: 81
EPU Omega Ratio Rank: 83
EPU Calmar Ratio Rank: 85
EPU Martin Ratio Rank: 72

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.

EUFN vs. EPU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Financials ETF (EUFN) and iShares MSCI Peru ETF (EPU). 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.

	EUFN	EPU	Difference
Sharpe ratio: Return per unit of total volatility	1.31	2.73	-1.42
Sortino ratio: Return per unit of downside risk	1.92	3.14	-1.22
Omega ratio: Gain probability vs. loss probability	1.23	1.43	-0.20
Calmar ratio: Return relative to maximum drawdown	1.79	4.07	-2.28
Martin ratio: Return relative to average drawdown	6.24	11.73	-5.49

EUFN vs. EPU - Sharpe Ratio Comparison

The current EUFN Sharpe Ratio is 1.31, which is lower than the EPU Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of EUFN and EPU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EUFN vs. EPU - Drawdown Comparison

The maximum EUFN drawdown since its inception was -53.25%, smaller than the maximum EPU drawdown of -60.62%. Use the drawdown chart below to compare losses from any high point for EUFN and EPU.

Drawdown Indicators

	EUFN	EPU	Difference
Max Drawdown Largest peak-to-trough decline	-53.25%	-60.62%	+7.37%
Max Drawdown (1Y) Largest decline over 1 year	-14.77%	-20.85%	+6.08%
Max Drawdown (3Y) Largest decline over 3 years	-15.95%	-20.85%	+4.90%
Max Drawdown (5Y) Largest decline over 5 years	-35.15%	-35.59%	+0.44%
Max Drawdown (10Y) Largest decline over 10 years	-53.25%	-50.97%	-2.28%
Current Drawdown Current decline from peak	-0.10%	-6.69%	+6.59%
Average Drawdown Average peak-to-trough decline	-14.53%	-18.81%	+4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	7.22%	-2.99%

Volatility

EUFN vs. EPU - Volatility Comparison

The current volatility for iShares MSCI Europe Financials ETF (EUFN) is 6.96%, while iShares MSCI Peru ETF (EPU) has a volatility of 13.52%. This indicates that EUFN experiences smaller price fluctuations and is considered to be less risky than EPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EUFN	EPU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	13.52%	-6.56%
Volatility (6M) Calculated over the trailing 6-month period	17.05%	26.94%	-9.89%
Volatility (1Y) Calculated over the trailing 1-year period	20.17%	31.04%	-10.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.88%	25.11%	-3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.53%	23.64%	+0.89%

EUFN vs. EPU - Expense Ratio Comparison

EUFN has a 0.48% expense ratio, which is lower than EPU's 0.59% expense ratio.

Dividends

EUFN vs. EPU - Dividend Comparison

EUFN's dividend yield for the trailing twelve months is around 3.41%, more than EPU's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPU iShares MSCI Peru ETF	1.35%	1.63%	5.78%	4.17%	5.56%	3.13%	1.91%	2.67%	1.53%	3.30%	0.85%	1.90%
EUFN iShares MSCI Europe Financials ETF	3.41%	3.57%	5.36%	5.00%	4.24%	4.15%	1.38%	4.55%	6.48%	3.04%	4.03%	3.65%

Frequently Asked Questions

Can I hold both EUFN and EPU in my portfolio?

EUFN and EPU 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 is riskier, EUFN or EPU?

EPU has higher volatility (13.52%) compared to EUFN (6.96%). In terms of maximum drawdown, EUFN dropped -53.25% vs EPU's -60.62%.

Which ETF is better, EUFN or EPU?

On 10-year performance, EPU leads with 15.16% vs 13.48% for EUFN. On fees, EUFN is cheaper at 0.48% per year. On volatility, EUFN has been the lower-risk option at 6.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EUFN or EPU?

Over the 10-year period, EPU has performed better with a 15.16% return vs 13.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EUFN or EPU?

EUFN is cheaper with a 0.48% expense ratio, compared with 0.59% for EPU.

Which ETF pays a higher dividend yield, EUFN or EPU?

EUFN has the higher dividend yield at 3.41%, compared with 1.35% for EPU.

What is the main difference between EUFN and EPU?

EUFN is categorized as Financials Equities, while EPU is Mid Cap Blend Equities. EUFN tracks MSCI Europe Financials Index, while EPU tracks MSCI All Peru Capped Index. Their fees differ too: 0.48% for EUFN and 0.59% for EPU.

Which has better risk-adjusted returns?

EPU currently has the higher Sharpe Ratio (2.73 vs 1.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.