EUN.L vs. XESX.L

Last updated Jun 5, 2026

EUN.L (iShares STOXX Europe 50 UCITS) and XESX.L (Xtrackers EURO STOXX 50 UCITS ETF 1D) are both Europe Equities funds - EUN.L tracks the MSCI Europe NR EUR while XESX.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, EUN.L returned 7.22%/yr vs 8.41%/yr for XESX.L. Their correlation of 0.82 suggests significant overlap in exposure. EUN.L charges 0.35%/yr vs 0.09%/yr for XESX.L.

Performance

EUN.L vs. XESX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares STOXX Europe 50 UCITS (EUN.L) and Xtrackers EURO STOXX 50 UCITS ETF 1D (XESX.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EUN.L achieves a 5.15% return, which is significantly lower than XESX.L's 5.63% return. Over the past 10 years, EUN.L has underperformed XESX.L with an annualized return of 7.22%, while XESX.L has yielded a comparatively higher 8.41% 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%

XESX.L

• 1D: 0.61%
• 1M: 1.27%
• YTD: 5.63%
• 6M: 6.72%
• 1Y: 15.53%
• 3Y*: 12.30%
• 5Y*: 8.43%
• 10Y*: 8.41%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
XESX.L Xtrackers EURO STOXX 50 UCITS ETF 1D	5.63%	24.66%	2.94%	16.40%	-8.32%	12.93%	0.07%	18.58%	-12.98%	10.98%

Correlation

The correlation between EUN.L and XESX.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	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Feb 20, 2008	0.82

The correlation between EUN.L and XESX.L has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

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

Sectors	EUN.L	XESX.L
Financial Services	22.8%	26.0%
Industrials	18.1%	22.9%
Healthcare	17.4%	5.6%
Technology	10.0%	16.7%
Consumer Defensive	9.5%	4.1%
Energy	8.1%	5.4%
Consumer Cyclical	4.9%	10.2%
Utilities	4.5%	5.0%
Basic Materials	3.2%	1.8%
Communication Services	1.6%	2.4%
Real Estate	-	-

Return for Risk

EUN.L vs. XESX.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: 35
EUN.L Sharpe Ratio Rank: 37
EUN.L Sortino Ratio Rank: 36
EUN.L Omega Ratio Rank: 38
EUN.L Calmar Ratio Rank: 32
EUN.L Martin Ratio Rank: 34

XESX.L

XESX.L Risk / Return Rank: 29
XESX.L Sharpe Ratio Rank: 29
XESX.L Sortino Ratio Rank: 29
XESX.L Omega Ratio Rank: 29
XESX.L Calmar Ratio Rank: 28
XESX.L Martin Ratio Rank: 31

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. XESX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares STOXX Europe 50 UCITS (EUN.L) and Xtrackers EURO STOXX 50 UCITS ETF 1D (XESX.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.L	XESX.L	Difference
Sharpe ratio: Return per unit of total volatility	1.30	1.03	+0.27
Sortino ratio: Return per unit of downside risk	1.87	1.55	+0.32
Omega ratio: Gain probability vs. loss probability	1.24	1.19	+0.05
Calmar ratio: Return relative to maximum drawdown	1.53	1.36	+0.17
Martin ratio: Return relative to average drawdown	5.12	4.41	+0.71
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. XESX.L - Sharpe Ratio Comparison

The current EUN.L Sharpe Ratio is 1.30, which is comparable to the XESX.L Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of EUN.L and XESX.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

	EUN.L	XESX.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	1.03	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.49	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.48	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.16	+0.04

Drawdowns

EUN.L vs. XESX.L - Drawdown Comparison

The maximum EUN.L drawdown since its inception was -47.49%, roughly equal to the maximum XESX.L drawdown of -47.16%. Use the drawdown chart below to compare losses from any high point for EUN.L and XESX.L.

Drawdown Indicators

	EUN.L	XESX.L	Difference
Max Drawdown Largest peak-to-trough decline	-47.49%	-47.16%	-0.33%
Max Drawdown (1Y) Largest decline over 1 year	-10.70%	-11.48%	+0.78%
Max Drawdown (3Y) Largest decline over 3 years	-13.31%	-14.20%	+0.89%
Max Drawdown (5Y) Largest decline over 5 years	-13.31%	-23.79%	+10.48%
Max Drawdown (10Y) Largest decline over 10 years	-26.31%	-31.68%	+5.37%
Current Drawdown Current decline from peak	-3.01%	-0.92%	-2.09%
Average Drawdown Average peak-to-trough decline	-10.64%	-13.94%	+3.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	3.56%	-0.35%

Volatility

EUN.L vs. XESX.L - Volatility Comparison

The current volatility for iShares STOXX Europe 50 UCITS (EUN.L) is 4.24%, while Xtrackers EURO STOXX 50 UCITS ETF 1D (XESX.L) has a volatility of 4.86%. This indicates that EUN.L experiences smaller price fluctuations and is considered to be less risky than XESX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EUN.L	XESX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	4.86%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	10.45%	12.29%	-1.84%
Volatility (1Y) Calculated over the trailing 1-year period	12.63%	15.25%	-2.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.60%	17.47%	-3.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.83%	18.27%	-3.44%

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

EUN.L has a 0.35% expense ratio, which is higher than XESX.L's 0.09% expense ratio.

Dividends

EUN.L vs. XESX.L - Dividend Comparison

EUN.L's dividend yield for the trailing twelve months is around 0.02%, which matches XESX.L's 0.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XESX.L Xtrackers EURO STOXX 50 UCITS ETF 1D	0.02%	0.03%	0.03%	0.03%	0.05%	0.02%	0.03%	0.02%	0.03%	0.03%	0.02%	0.00%

Frequently Asked Questions

Can I hold both EUN.L and XESX.L in my portfolio?

With a correlation of 0.91, EUN.L and XESX.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.

Which ETF is better, EUN.L or XESX.L?

On fees, XESX.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EUN.L or XESX.L?

XESX.L is cheaper with a 0.09% expense ratio, compared with 0.35% for EUN.L.

What is the main difference between EUN.L and XESX.L?

EUN.L tracks MSCI Europe NR EUR, while XESX.L tracks MSCI EMU NR EUR. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.35% for EUN.L and 0.09% for XESX.L.