PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EWP vs. MEUD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWP vs. MEUD.L

Last updated Jun 9, 2026

EWP (iShares MSCI Spain ETF) and MEUD.L (Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc) are both Europe Equities funds - EWP tracks the MSCI Spain Index while MEUD.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, EWP returned 11.50%/yr vs 9.79%/yr for MEUD.L. A 0.65 correlation means they provide meaningful diversification when combined. EWP charges 0.50%/yr vs 0.15%/yr for MEUD.L.

Performance

EWP vs. MEUD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Spain ETF (EWP) and Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc (MEUD.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

EWP is traded in USD, while MEUD.L is traded in GBp. To make them comparable, the MEUD.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with EWP having a 5.10% return and MEUD.L slightly higher at 5.24%. Over the past 10 years, EWP has outperformed MEUD.L with an annualized return of 11.50%, while MEUD.L has yielded a comparatively lower 9.79% annualized return.

EWP

1D
-0.23%
1M
-1.00%
YTD
5.10%
6M
9.82%
1Y
33.13%
3Y*
30.85%
5Y*
16.75%
10Y*
11.50%

MEUD.L

1D
0.11%
1M
0.08%
YTD
5.24%
6M
8.76%
1Y
16.91%
3Y*
16.48%
5Y*
8.35%
10Y*
9.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWP vs. MEUD.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWP
iShares MSCI Spain ETF		5.10%78.03%5.70%30.26%-5.18%0.25%-3.94%11.93%-15.32%26.98%
MEUD.L
Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc		5.24%36.05%1.93%19.47%-15.19%16.00%7.03%25.23%-14.71%26.41%

Correlation

The correlation between EWP and MEUD.L is 0.71, 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

0.71

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

0.68

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

0.68

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

0.66

Correlation (All Time)
Calculated using the full available price history since Apr 4, 2013

0.65

The correlation between EWP and MEUD.L has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.

EWP vs. MEUD.L - Sectors Allocation Comparison

Sectors
EWP
MEUD.L

Financial Services

41.4%
23.9%

Utilities

21.2%
4.4%

Industrials

16.1%
20.3%

Energy

5.3%
5.3%

Technology

4.9%
9.4%

Consumer Cyclical

4.0%
7.1%

Communication Services

2.9%
3.0%

Real Estate

2.9%
1.2%

Healthcare

1.3%
12.6%

Basic Materials

-

5.1%

Consumer Defensive

-

7.7%

Financial Services

EWP
41.4%
MEUD.L
23.9%

Utilities

EWP
21.2%
MEUD.L
4.4%

Industrials

EWP
16.1%
MEUD.L
20.3%

Energy

EWP
5.3%
MEUD.L
5.3%

Technology

EWP
4.9%
MEUD.L
9.4%

Consumer Cyclical

EWP
4.0%
MEUD.L
7.1%

Communication Services

EWP
2.9%
MEUD.L
3.0%

Real Estate

EWP
2.9%
MEUD.L
1.2%

Healthcare

EWP
1.3%
MEUD.L
12.6%

Basic Materials

EWP

-

MEUD.L
5.1%

Consumer Defensive

EWP

-

MEUD.L
7.7%

Compare stocks, funds, or ETFs

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

iShares MSCI Spain ETF

Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc

Often compared with EWP:
EWP vs. EWGEWP vs. EWIEWP vs. EPOLEWP vs. EIRLEWP vs. VOOEWP vs. FEZEWP vs. EWQ
Often compared with MEUD.L:
MEUD.L vs. SMEA.LMEUD.L vs. XSX6.LMEUD.L vs. VEUA.LMEUD.L vs. SPYMEUD.L vs. HMEU.LMEUD.L vs. VUAA.LMEUD.L vs. CS51.L

Return for Risk

EWP vs. MEUD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWP
EWP Risk / Return Rank: 5959
Overall Rank
EWP Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
EWP Sortino Ratio Rank: 5656
Sortino Ratio Rank
EWP Omega Ratio Rank: 5555
Omega Ratio Rank
EWP Calmar Ratio Rank: 6565
Calmar Ratio Rank
EWP Martin Ratio Rank: 6363
Martin Ratio Rank
MEUD.L
MEUD.L Risk / Return Rank: 4646
Overall Rank
MEUD.L Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
MEUD.L Sortino Ratio Rank: 4848
Sortino Ratio Rank
MEUD.L Omega Ratio Rank: 5151
Omega Ratio Rank
MEUD.L Calmar Ratio Rank: 3939
Calmar Ratio Rank
MEUD.L Martin Ratio Rank: 4343
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.

EWP vs. MEUD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Spain ETF (EWP) and Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc (MEUD.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.

EWPMEUD.LDifference
Sharpe ratioReturn per unit of total volatility
1.77
1.16

+0.62

Sortino ratioReturn per unit of downside risk
2.40
1.71

+0.69

Omega ratioGain probability vs. loss probability

1.31

1.21

+0.09

Calmar ratioReturn relative to maximum drawdown

2.92

1.46

+1.46

Martin ratioReturn relative to average drawdown

10.37

5.19

+5.19

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

EWP vs. MEUD.L - Sharpe Ratio Comparison

The current EWP Sharpe Ratio is 1.77, which is higher than the MEUD.L Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of EWP and MEUD.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.

Loading charts...

Sharpe Ratios by Period

EWPMEUD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.77

1.16

+0.62

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.83

0.44

+0.40

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.52

0.51

+0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.31

0.35

-0.04

Drawdowns

EWP vs. MEUD.L - Drawdown Comparison

The maximum EWP drawdown since its inception was -61.19%, which is greater than MEUD.L's maximum drawdown of -36.31%. Use the drawdown chart below to compare losses from any high point for EWP and MEUD.L.

Loading charts...

Drawdown Indicators

EWPMEUD.LDifference

Max Drawdown

Largest peak-to-trough decline

-61.19%

-36.31%

-24.88%

Max Drawdown (1Y)

Largest decline over 1 year

-11.38%

-11.53%

+0.15%

Max Drawdown (3Y)

Largest decline over 3 years

-12.19%

-14.53%

+2.34%

Max Drawdown (5Y)

Largest decline over 5 years

-33.91%

-32.40%

-1.51%

Max Drawdown (10Y)

Largest decline over 10 years

-46.36%

-36.31%

-10.05%

Current Drawdown

Current decline from peak

-2.96%

-2.76%

-0.20%

Average Drawdown

Average peak-to-trough decline

-21.43%

-9.39%

-12.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

3.25%

-0.05%

Volatility

EWP vs. MEUD.L - Volatility Comparison

iShares MSCI Spain ETF (EWP) has a higher volatility of 5.07% compared to Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc (MEUD.L) at 3.92%. This indicates that EWP's price experiences larger fluctuations and is considered to be riskier than MEUD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

EWPMEUD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.07%

3.92%

+1.15%

Volatility (6M)

Calculated over the trailing 6-month period

15.70%

12.01%

+3.69%

Volatility (1Y)

Calculated over the trailing 1-year period

18.79%

14.58%

+4.21%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.25%

19.16%

+1.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.24%

19.37%

+2.87%

EWP vs. MEUD.L - Expense Ratio Comparison

EWP has a 0.50% expense ratio, which is higher than MEUD.L's 0.15% expense ratio.

Dividends

EWP vs. MEUD.L - Dividend Comparison

EWP's dividend yield for the trailing twelve months is around 2.16%, while MEUD.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
EWP
iShares MSCI Spain ETF		2.16%2.27%4.35%2.70%3.07%3.29%2.56%3.72%3.69%2.72%4.65%3.85%
MEUD.L
Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc		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

EWP and MEUD.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, MEUD.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MEUD.L is cheaper with a 0.15% expense ratio, compared with 0.50% for EWP.

EWP tracks MSCI Spain Index, while MEUD.L tracks MSCI Europe NR EUR. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.50% for EWP and 0.15% for MEUD.L.

Portfolio Optimizer

Find the right allocation for EWP and MEUD.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer