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EUN.L vs. SX5S.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EUN.L vs. SX5S.L

Last updated Jun 5, 2026

EUN.L (iShares STOXX Europe 50 UCITS) and SX5S.L (Invesco EURO STOXX 50 UCITS ETF) are both Europe Equities funds - EUN.L tracks the MSCI Europe NR EUR while SX5S.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, EUN.L returned 7.22%/yr vs 11.41%/yr for SX5S.L. A 0.77 correlation means they provide meaningful diversification when combined. EUN.L charges 0.35%/yr vs 0.05%/yr for SX5S.L.

Performance

EUN.L vs. SX5S.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares STOXX Europe 50 UCITS (EUN.L) and Invesco EURO STOXX 50 UCITS ETF (SX5S.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EUN.L achieves a 5.15% return, which is significantly lower than SX5S.L's 6.46% return. Over the past 10 years, EUN.L has underperformed SX5S.L with an annualized return of 7.22%, while SX5S.L has yielded a comparatively higher 11.41% annualized return.

EUN.L

1D
0.84%
1M
0.04%
YTD
5.15%
6M
7.47%
1Y
16.72%
3Y*
9.36%
5Y*
8.47%
10Y*
7.22%

SX5S.L

1D
0.35%
1M
1.56%
YTD
6.46%
6M
7.42%
1Y
18.48%
3Y*
15.51%
5Y*
11.51%
10Y*
11.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EUN.L vs. SX5S.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EUN.L
iShares STOXX Europe 50 UCITS		5.15%20.23%0.23%9.58%1.57%14.92%-3.44%16.69%-12.04%10.12%
SX5S.L
Invesco EURO STOXX 50 UCITS ETF		6.46%27.68%6.13%19.91%-3.67%14.48%2.12%23.51%-10.62%14.35%

Correlation

The correlation between EUN.L and SX5S.L is 0.91, 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

0.91

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

0.87

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

0.87

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

0.78

Correlation (All Time)
Calculated using the full available price history since Sep 8, 2014

0.77

The correlation between EUN.L and SX5S.L shifts across timeframes, from 0.77 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.

EUN.L vs. SX5S.L - Sectors Allocation Comparison

Sectors
EUN.L
SX5S.L

Financial Services

22.8%
25.1%

Industrials

18.1%
22.1%

Healthcare

17.4%
5.4%

Technology

10.0%
16.1%

Consumer Defensive

9.5%
5.5%

Energy

8.1%
5.2%

Consumer Cyclical

4.9%
9.8%

Utilities

4.5%
4.8%

Basic Materials

3.2%
3.7%

Communication Services

1.6%
2.3%

Real Estate

-

-

Financial Services

EUN.L
22.8%
SX5S.L
25.1%

Industrials

EUN.L
18.1%
SX5S.L
22.1%

Healthcare

EUN.L
17.4%
SX5S.L
5.4%

Technology

EUN.L
10.0%
SX5S.L
16.1%

Consumer Defensive

EUN.L
9.5%
SX5S.L
5.5%

Energy

EUN.L
8.1%
SX5S.L
5.2%

Consumer Cyclical

EUN.L
4.9%
SX5S.L
9.8%

Utilities

EUN.L
4.5%
SX5S.L
4.8%

Basic Materials

EUN.L
3.2%
SX5S.L
3.7%

Communication Services

EUN.L
1.6%
SX5S.L
2.3%

Real Estate

EUN.L

-

SX5S.L

-

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iShares STOXX Europe 50 UCITS

Invesco EURO STOXX 50 UCITS ETF

Often compared with EUN.L:
EUN.L vs. SWDA.LEUN.L vs. VWCE.DEEUN.L vs. QDVE.DEEUN.L vs. VUAA.LEUN.L vs. EUE.LEUN.L vs. XESC.LEUN.L vs. SPY
Often compared with SX5S.L:
SX5S.L vs. S600.LSX5S.L vs. VXUSSX5S.L vs. ACWXSX5S.L vs. SPYSX5S.L vs. QQQSX5S.L vs. ^SP500TRSX5S.L vs. CIBR

Return for Risk

EUN.L vs. SX5S.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EUN.L
EUN.L Risk / Return Rank: 3535
Overall Rank
EUN.L Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
EUN.L Sortino Ratio Rank: 3636
Sortino Ratio Rank
EUN.L Omega Ratio Rank: 3838
Omega Ratio Rank
EUN.L Calmar Ratio Rank: 3232
Calmar Ratio Rank
EUN.L Martin Ratio Rank: 3434
Martin Ratio Rank
SX5S.L
SX5S.L Risk / Return Rank: 3535
Overall Rank
SX5S.L Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
SX5S.L Sortino Ratio Rank: 3535
Sortino Ratio Rank
SX5S.L Omega Ratio Rank: 3535
Omega Ratio Rank
SX5S.L Calmar Ratio Rank: 3434
Calmar Ratio Rank
SX5S.L Martin Ratio Rank: 3636
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.

EUN.L vs. SX5S.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares STOXX Europe 50 UCITS (EUN.L) and Invesco EURO STOXX 50 UCITS ETF (SX5S.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.

EUN.LSX5S.LDifference
Sharpe ratioReturn per unit of total volatility
1.30
1.23

+0.07

Sortino ratioReturn per unit of downside risk
1.87
1.83

+0.04

Omega ratioGain probability vs. loss probability

1.24

1.23

+0.01

Calmar ratioReturn relative to maximum drawdown

1.53

1.62

-0.09

Martin ratioReturn relative to average drawdown

5.12

5.40

-0.29

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUN.L vs. SX5S.L - Sharpe Ratio Comparison

The current EUN.L Sharpe Ratio is 1.30, which is comparable to the SX5S.L Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of EUN.L and SX5S.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.

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Sharpe Ratios by Period

EUN.LSX5S.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.30

1.23

+0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

0.69

-0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.49

0.73

-0.25

Sharpe Ratio (All Time)

Calculated using the full available price history

0.20

0.59

-0.39

Drawdowns

EUN.L vs. SX5S.L - Drawdown Comparison

The maximum EUN.L drawdown since its inception was -47.49%, which is greater than SX5S.L's maximum drawdown of -32.54%. Use the drawdown chart below to compare losses from any high point for EUN.L and SX5S.L.

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Drawdown Indicators

EUN.LSX5S.LDifference

Max Drawdown

Largest peak-to-trough decline

-47.49%

-32.54%

-14.95%

Max Drawdown (1Y)

Largest decline over 1 year

-10.70%

-11.43%

+0.73%

Max Drawdown (3Y)

Largest decline over 3 years

-13.31%

-13.85%

+0.54%

Max Drawdown (5Y)

Largest decline over 5 years

-13.31%

-21.71%

+8.40%

Max Drawdown (10Y)

Largest decline over 10 years

-26.31%

-32.54%

+6.23%

Current Drawdown

Current decline from peak

-3.01%

-0.57%

-2.44%

Average Drawdown

Average peak-to-trough decline

-10.64%

-5.44%

-5.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.21%

3.44%

-0.23%

Volatility

EUN.L vs. SX5S.L - Volatility Comparison

The current volatility for iShares STOXX Europe 50 UCITS (EUN.L) is 4.24%, while Invesco EURO STOXX 50 UCITS ETF (SX5S.L) has a volatility of 4.90%. This indicates that EUN.L experiences smaller price fluctuations and is considered to be less risky than SX5S.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EUN.LSX5S.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.24%

4.90%

-0.66%

Volatility (6M)

Calculated over the trailing 6-month period

10.45%

12.23%

-1.78%

Volatility (1Y)

Calculated over the trailing 1-year period

12.63%

15.09%

-2.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.60%

17.62%

-4.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.83%

19.88%

-5.05%

EUN.L vs. SX5S.L - Expense Ratio Comparison

EUN.L has a 0.35% expense ratio, which is higher than SX5S.L's 0.05% expense ratio.

Dividends

EUN.L vs. SX5S.L - Dividend Comparison

EUN.L's dividend yield for the trailing twelve months is around 0.02%, while SX5S.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
EUN.L
iShares STOXX Europe 50 UCITS		0.02%0.02%0.03%0.03%0.03%0.02%0.02%0.03%0.03%0.03%0.03%0.03%
SX5S.L
Invesco EURO STOXX 50 UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.91, EUN.L and SX5S.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, SX5S.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SX5S.L is cheaper with a 0.05% expense ratio, compared with 0.35% for EUN.L.

EUN.L tracks MSCI Europe NR EUR, while SX5S.L tracks MSCI EMU NR EUR. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.35% for EUN.L and 0.05% for SX5S.L.

Portfolio Optimizer

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