EXS3.DE vs. VEUR.AS
EXS3.DE (iShares MDAX UCITS ETF (DE)) and VEUR.AS (Vanguard FTSE Developed Europe UCITS ETF) are both Europe Equities funds - EXS3.DE tracks the MDAX® while VEUR.AS tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, EXS3.DE returned 4.04%/yr vs 9.23%/yr for VEUR.AS. Their correlation of 0.84 suggests significant overlap in exposure. EXS3.DE charges 0.51%/yr vs 0.10%/yr for VEUR.AS.
Performance
EXS3.DE vs. VEUR.AS - Performance Comparison
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Returns By Period
In the year-to-date period, EXS3.DE achieves a 6.43% return, which is significantly lower than VEUR.AS's 7.16% return. Over the past 10 years, EXS3.DE has underperformed VEUR.AS with an annualized return of 4.04%, while VEUR.AS has yielded a comparatively higher 9.23% annualized return.
EXS3.DE
- 1D
- 0.21%
- 1M
- 5.13%
- YTD
- 6.43%
- 6M
- 10.24%
- 1Y
- 4.92%
- 3Y*
- 6.03%
- 5Y*
- -1.18%
- 10Y*
- 4.04%
VEUR.AS
- 1D
- 0.57%
- 1M
- 3.20%
- YTD
- 7.16%
- 6M
- 9.88%
- 1Y
- 16.32%
- 3Y*
- 14.06%
- 5Y*
- 9.93%
- 10Y*
- 9.23%
EXS3.DE vs. VEUR.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXS3.DE iShares MDAX UCITS ETF (DE) | 6.43% | 19.10% | -6.45% | 7.92% | -29.11% | 13.18% | 8.17% | 30.28% | -18.39% | 17.41% |
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF | 7.16% | 19.69% | 10.27% | 16.15% | -10.11% | 25.55% | -2.72% | 25.95% | -10.04% | 10.80% |
Correlation
The correlation between EXS3.DE and VEUR.AS is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since May 22, 2013 | 0.84 |
The correlation between EXS3.DE and VEUR.AS has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.
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Return for Risk
EXS3.DE vs. VEUR.AS — Risk / Return Rank
EXS3.DE
VEUR.AS
EXS3.DE vs. VEUR.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MDAX UCITS ETF (DE) (EXS3.DE) and Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS). 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.
| EXS3.DE | VEUR.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.24 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 1.68 | -1.34 |
| Martin ratioReturn relative to average drawdown | 0.91 | 6.34 | -5.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EXS3.DE | VEUR.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 1.26 | -0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | 0.69 | -0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.59 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.53 | -0.17 |
Drawdowns
EXS3.DE vs. VEUR.AS - Drawdown Comparison
The maximum EXS3.DE drawdown since its inception was -63.82%, which is greater than VEUR.AS's maximum drawdown of -35.63%. Use the drawdown chart below to compare losses from any high point for EXS3.DE and VEUR.AS.
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Drawdown Indicators
| EXS3.DE | VEUR.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.82% | -35.63% | -28.19% |
Max Drawdown (1Y)Largest decline over 1 year | -14.57% | -9.59% | -4.98% |
Max Drawdown (3Y)Largest decline over 3 years | -18.67% | -16.41% | -2.26% |
Max Drawdown (5Y)Largest decline over 5 years | -40.31% | -20.19% | -20.12% |
Max Drawdown (10Y)Largest decline over 10 years | -40.31% | -35.63% | -4.68% |
Current DrawdownCurrent decline from peak | -12.23% | -1.62% | -10.61% |
Average DrawdownAverage peak-to-trough decline | -14.02% | -5.29% | -8.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 2.55% | +2.80% |
Volatility
EXS3.DE vs. VEUR.AS - Volatility Comparison
iShares MDAX UCITS ETF (DE) (EXS3.DE) has a higher volatility of 4.94% compared to Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS) at 4.38%. This indicates that EXS3.DE's price experiences larger fluctuations and is considered to be riskier than VEUR.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXS3.DE | VEUR.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 4.38% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 15.18% | 10.62% | +4.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.54% | 12.81% | +5.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.35% | 14.22% | +5.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 15.51% | +2.86% |
EXS3.DE vs. VEUR.AS - Expense Ratio Comparison
EXS3.DE has a 0.51% expense ratio, which is higher than VEUR.AS's 0.10% expense ratio.
Dividends
EXS3.DE vs. VEUR.AS - Dividend Comparison
EXS3.DE has not paid dividends to shareholders, while VEUR.AS's dividend yield for the trailing twelve months is around 2.60%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXS3.DE iShares MDAX UCITS ETF (DE) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.41% | 0.49% | 0.53% | 0.49% |
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF | 2.60% | 2.79% | 3.04% | 3.00% | 3.32% | 2.66% | 2.24% | 3.24% | 3.62% | 3.05% | 3.19% | 3.10% |
Frequently Asked Questions
EXS3.DE and VEUR.AS have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VEUR.AS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEUR.AS is cheaper with a 0.10% expense ratio, compared with 0.51% for EXS3.DE.
EXS3.DE tracks MDAX®, while VEUR.AS tracks MSCI Europe NR EUR. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.51% for EXS3.DE and 0.10% for VEUR.AS.
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