EZU vs. FXE
Compare and contrast key facts about iShares MSCI Eurozone ETF (EZU) and Invesco CurrencyShares® Euro Currency Trust (FXE).
EZU and FXE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EZU is a passively managed fund by iShares that tracks the performance of the MSCI EMU. It was launched on Jul 25, 2000. FXE is a passively managed fund by Invesco that tracks the performance of the Euro. It was launched on Dec 9, 2005. Both EZU and FXE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
EZU vs. FXE - Performance Comparison
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EZU vs. FXE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EZU iShares MSCI Eurozone ETF | -0.90% | 40.00% | 2.23% | 23.44% | -17.25% | 13.92% | 7.62% | 23.27% | -16.76% | 27.89% |
FXE Invesco CurrencyShares® Euro Currency Trust | -1.28% | 14.52% | -4.18% | 4.87% | -6.57% | -7.83% | 7.94% | -2.90% | -5.30% | 13.05% |
Returns By Period
In the year-to-date period, EZU achieves a -0.90% return, which is significantly higher than FXE's -1.28% return. Over the past 10 years, EZU has outperformed FXE with an annualized return of 9.32%, while FXE has yielded a comparatively lower 0.09% annualized return.
EZU
- 1D
- 1.40%
- 1M
- -4.92%
- YTD
- -0.90%
- 6M
- 2.39%
- 1Y
- 22.28%
- 3Y*
- 15.30%
- 5Y*
- 9.03%
- 10Y*
- 9.32%
FXE
- 1D
- 0.17%
- 1M
- -0.91%
- YTD
- -1.28%
- 6M
- -0.93%
- 1Y
- 8.11%
- 3Y*
- 3.81%
- 5Y*
- 0.34%
- 10Y*
- 0.09%
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EZU vs. FXE - Expense Ratio Comparison
EZU has a 0.51% expense ratio, which is higher than FXE's 0.40% expense ratio.
Return for Risk
EZU vs. FXE — Risk / Return Rank
EZU
FXE
EZU vs. FXE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Eurozone ETF (EZU) and Invesco CurrencyShares® Euro Currency Trust (FXE). 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.
| EZU | FXE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.17 | 1.07 | +0.11 |
Sortino ratioReturn per unit of downside risk | 1.74 | 1.71 | +0.04 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.20 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.57 | +0.19 |
Martin ratioReturn relative to average drawdown | 6.66 | 4.16 | +2.49 |
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
| EZU | FXE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | 1.07 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.04 | +0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.01 | +0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.02 | +0.18 |
Correlation
The correlation between EZU and FXE is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
EZU vs. FXE - Dividend Comparison
EZU's dividend yield for the trailing twelve months is around 2.88%, more than FXE's 0.77% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EZU iShares MSCI Eurozone ETF | 2.88% | 2.85% | 2.90% | 2.56% | 2.79% | 2.46% | 2.13% | 2.84% | 3.47% | 1.91% | 3.07% | 2.18% |
FXE Invesco CurrencyShares® Euro Currency Trust | 0.77% | 0.94% | 2.28% | 1.49% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
EZU vs. FXE - Drawdown Comparison
The maximum EZU drawdown since its inception was -65.32%, which is greater than FXE's maximum drawdown of -43.33%. Use the drawdown chart below to compare losses from any high point for EZU and FXE.
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Drawdown Indicators
| EZU | FXE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.32% | -43.33% | -21.99% |
Max Drawdown (1Y)Largest decline over 1 year | -13.06% | -5.02% | -8.04% |
Max Drawdown (5Y)Largest decline over 5 years | -36.11% | -22.70% | -13.41% |
Max Drawdown (10Y)Largest decline over 10 years | -41.37% | -26.46% | -14.91% |
Current DrawdownCurrent decline from peak | -8.25% | -28.19% | +19.94% |
Average DrawdownAverage peak-to-trough decline | -19.35% | -22.26% | +2.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 1.89% | +1.56% |
Volatility
EZU vs. FXE - Volatility Comparison
iShares MSCI Eurozone ETF (EZU) has a higher volatility of 8.14% compared to Invesco CurrencyShares® Euro Currency Trust (FXE) at 2.19%. This indicates that EZU's price experiences larger fluctuations and is considered to be riskier than FXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EZU | FXE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.14% | 2.19% | +5.95% |
Volatility (6M)Calculated over the trailing 6-month period | 12.08% | 4.24% | +7.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.11% | 7.65% | +11.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.63% | 7.70% | +11.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.44% | 7.37% | +13.07% |