EUFN vs. IAK

Last updated Jun 4, 2026

EUFN (iShares MSCI Europe Financials ETF) and IAK (iShares U.S. Insurance ETF) are both Financials Equities funds from iShares - EUFN tracks the MSCI Europe Financials Index while IAK tracks the Dow Jones U.S. Select Insurance Index. Both are passively managed. Over the past 10 years, EUFN returned 11.98%/yr vs 11.66%/yr for IAK. A 0.62 correlation means they provide meaningful diversification when combined. EUFN charges 0.48%/yr vs 0.43%/yr for IAK.

Performance

EUFN vs. IAK - Performance Comparison

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

Returns By Period

In the year-to-date period, EUFN achieves a 1.54% return, which is significantly higher than IAK's -4.56% return. Both investments have delivered pretty close results over the past 10 years, with EUFN having a 11.98% annualized return and IAK not far behind at 11.66%.

EUFN

• 1D: -2.03%
• 1M: 2.59%
• YTD: 1.54%
• 6M: 8.77%
• 1Y: 23.06%
• 3Y*: 30.91%
• 5Y*: 17.47%
• 10Y*: 11.98%

IAK

• 1D: -0.88%
• 1M: -2.27%
• YTD: -4.56%
• 6M: -1.81%
• 1Y: -4.16%
• 3Y*: 16.73%
• 5Y*: 11.50%
• 10Y*: 11.66%

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

EUFN vs. IAK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EUFN iShares MSCI Europe Financials ETF	1.54%	65.73%	17.20%	26.15%	-8.78%	19.13%	-8.55%	20.73%	-23.14%	26.94%
IAK iShares U.S. Insurance ETF	-4.56%	9.50%	28.25%	11.28%	11.33%	26.84%	-2.86%	25.94%	-11.48%	14.18%

Correlation

The correlation between EUFN and IAK is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Feb 4, 2010	0.62

Over the past year, the correlation between EUFN and IAK has dropped to 0.31 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

EUFN vs. IAK - Sectors Allocation Comparison

Sectors	EUFN	IAK
Financial Services	97.3%	99.5%
Technology	1.1%	-
Industrials	0.4%	-
Consumer Cyclical	0.2%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	0.5%
Real Estate	-	-
Utilities	-	-

Return for Risk

EUFN vs. IAK — Risk / Return Rank

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

EUFN

EUFN Risk / Return Rank: 32
EUFN Sharpe Ratio Rank: 32
EUFN Sortino Ratio Rank: 32
EUFN Omega Ratio Rank: 30
EUFN Calmar Ratio Rank: 32
EUFN Martin Ratio Rank: 35

IAK

IAK Risk / Return Rank: 5
IAK Sharpe Ratio Rank: 6
IAK Sortino Ratio Rank: 6
IAK Omega Ratio Rank: 5
IAK Calmar Ratio Rank: 4
IAK Martin Ratio Rank: 3

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. IAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Financials ETF (EUFN) and iShares U.S. Insurance ETF (IAK). 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.

	EUFN	IAK	Difference
Sharpe ratio Return per unit of total volatility	1.17	-0.28	+1.46
Sortino ratio Return per unit of downside risk	1.74	-0.29	+2.03
Omega ratio Gain probability vs. loss probability	1.21	0.97	+0.24
Calmar ratio Return relative to maximum drawdown	1.57	-0.55	+2.12
Martin ratio Return relative to average drawdown	5.49	-1.14	+6.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUFN vs. IAK - Sharpe Ratio Comparison

The current EUFN Sharpe Ratio is 1.17, which is higher than the IAK Sharpe Ratio of -0.28. The chart below compares the historical Sharpe Ratios of EUFN and IAK, 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

	EUFN	IAK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	-0.28	+1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.64	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.56	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.26	+0.01

Drawdowns

EUFN vs. IAK - Drawdown Comparison

The maximum EUFN drawdown since its inception was -53.25%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for EUFN and IAK.

Drawdown Indicators

	EUFN	IAK	Difference
Max Drawdown Largest peak-to-trough decline	-53.25%	-77.38%	+24.13%
Max Drawdown (1Y) Largest decline over 1 year	-14.77%	-7.62%	-7.15%
Max Drawdown (3Y) Largest decline over 3 years	-15.95%	-11.58%	-4.37%
Max Drawdown (5Y) Largest decline over 5 years	-35.15%	-14.76%	-20.39%
Max Drawdown (10Y) Largest decline over 10 years	-53.25%	-44.95%	-8.30%
Current Drawdown Current decline from peak	-3.16%	-5.82%	+2.66%
Average Drawdown Average peak-to-trough decline	-14.56%	-16.13%	+1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.21%	3.96%	+0.25%

Volatility

EUFN vs. IAK - Volatility Comparison

iShares MSCI Europe Financials ETF (EUFN) has a higher volatility of 7.00% compared to iShares U.S. Insurance ETF (IAK) at 3.82%. This indicates that EUFN's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EUFN	IAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.00%	3.82%	+3.18%
Volatility (6M) Calculated over the trailing 6-month period	16.56%	9.98%	+6.58%
Volatility (1Y) Calculated over the trailing 1-year period	19.75%	14.77%	+4.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.80%	18.07%	+3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.55%	20.89%	+3.66%

EUFN vs. IAK - Expense Ratio Comparison

EUFN has a 0.48% expense ratio, which is higher than IAK's 0.43% expense ratio.

Dividends

EUFN vs. IAK - Dividend Comparison

EUFN's dividend yield for the trailing twelve months is around 3.52%, more than IAK's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUFN iShares MSCI Europe Financials ETF	3.52%	3.57%	5.36%	5.00%	4.24%	4.15%	1.38%	4.55%	6.48%	3.04%	4.03%	3.65%
IAK iShares U.S. Insurance ETF	2.76%	1.69%	1.49%	1.44%	1.69%	2.26%	2.07%	1.84%	2.33%	1.62%	1.68%	1.62%

Frequently Asked Questions

Can I hold both EUFN and IAK in my portfolio?

EUFN and IAK have a correlation of 0.31, 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 IAK?

EUFN has higher volatility (7.00%) compared to IAK (3.82%). In terms of maximum drawdown, EUFN dropped -53.25% vs IAK's -77.38%.

Which ETF is better, EUFN or IAK?

On 10-year performance, EUFN leads with 11.98% vs 11.66% for IAK. On fees, IAK is cheaper at 0.43% per year. On volatility, IAK has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EUFN or IAK?

Over the 10-year period, EUFN has performed better with a 11.98% return vs 11.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EUFN or IAK?

IAK is cheaper with a 0.43% expense ratio, compared with 0.48% for EUFN.

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

EUFN has the higher dividend yield at 3.52%, compared with 2.76% for IAK.

What is the main difference between EUFN and IAK?

EUFN tracks MSCI Europe Financials Index, while IAK tracks Dow Jones U.S. Select Insurance Index. Their fees differ too: 0.48% for EUFN and 0.43% for IAK.

Which has better risk-adjusted returns?

EUFN currently has the higher Sharpe Ratio (1.17 vs -0.28), 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.