FEQD.L vs. EXS3.DE
FEQD.L (Fidelity Europe Quality Income UCITS ETF) and EXS3.DE (iShares MDAX UCITS ETF (DE)) are both Europe Equities funds - FEQD.L tracks the MSCI Europe High Div Yld NR EUR while EXS3.DE tracks the MDAX®. Both are passively managed. Over the past 5 years, FEQD.L returned 7.92%/yr vs -1.04%/yr for EXS3.DE. A 0.79 correlation means they provide meaningful diversification when combined. FEQD.L charges 0.30%/yr vs 0.51%/yr for EXS3.DE.
Performance
FEQD.L vs. EXS3.DE - Performance Comparison
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Different Trading Currencies
FEQD.L is traded in GBP, while EXS3.DE is traded in EUR. To make them comparable, the EXS3.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, FEQD.L achieves a 7.24% return, which is significantly higher than EXS3.DE's 5.59% return.
FEQD.L
- 1D
- 0.66%
- 1M
- 3.00%
- YTD
- 7.24%
- 6M
- 8.98%
- 1Y
- 19.46%
- 3Y*
- 13.43%
- 5Y*
- 7.92%
- 10Y*
- —
EXS3.DE
- 1D
- 0.33%
- 1M
- 5.36%
- YTD
- 5.59%
- 6M
- 9.17%
- 1Y
- 7.76%
- 3Y*
- 6.18%
- 5Y*
- -1.04%
- 10Y*
- 5.05%
FEQD.L vs. EXS3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEQD.L Fidelity Europe Quality Income UCITS ETF | 7.24% | 23.82% | 1.33% | 15.49% | -11.08% | 17.26% | 2.85% | 21.96% | -7.38% | -0.52% |
EXS3.DE iShares MDAX UCITS ETF (DE) | 5.59% | 25.29% | -10.53% | 5.77% | -25.22% | 5.19% | 14.27% | 23.50% | -17.24% | -1.16% |
Correlation
The correlation between FEQD.L and EXS3.DE is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2017 | 0.79 |
The correlation between FEQD.L and EXS3.DE shifts across timeframes, from 0.64 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FEQD.L vs. EXS3.DE — Risk / Return Rank
FEQD.L
EXS3.DE
FEQD.L vs. EXS3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Europe Quality Income UCITS ETF (FEQD.L) and iShares MDAX UCITS ETF (DE) (EXS3.DE). 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.
| FEQD.L | EXS3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.09 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 0.54 | +1.47 |
| Martin ratioReturn relative to average drawdown | 6.72 | 1.52 | +5.20 |
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
| FEQD.L | EXS3.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.53 | 0.42 | +1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | -0.05 | +0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.27 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.29 | +0.21 |
Drawdowns
FEQD.L vs. EXS3.DE - Drawdown Comparison
The maximum FEQD.L drawdown since its inception was -26.58%, smaller than the maximum EXS3.DE drawdown of -52.96%. Use the drawdown chart below to compare losses from any high point for FEQD.L and EXS3.DE.
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Drawdown Indicators
| FEQD.L | EXS3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.58% | -52.96% | +26.38% |
Max Drawdown (1Y)Largest decline over 1 year | -9.64% | -14.42% | +4.78% |
Max Drawdown (3Y)Largest decline over 3 years | -12.44% | -16.75% | +4.31% |
Max Drawdown (5Y)Largest decline over 5 years | -23.06% | -39.02% | +15.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.02% | — |
Current DrawdownCurrent decline from peak | -1.62% | -11.53% | +9.91% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -13.13% | +8.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 5.07% | -2.18% |
Volatility
FEQD.L vs. EXS3.DE - Volatility Comparison
The current volatility for Fidelity Europe Quality Income UCITS ETF (FEQD.L) is 3.32%, while iShares MDAX UCITS ETF (DE) (EXS3.DE) has a volatility of 5.02%. This indicates that FEQD.L experiences smaller price fluctuations and is considered to be less risky than EXS3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEQD.L | EXS3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.32% | 5.02% | -1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 10.39% | 15.10% | -4.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.68% | 18.34% | -5.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.26% | 19.49% | -5.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.99% | 18.41% | -3.42% |
FEQD.L vs. EXS3.DE - Expense Ratio Comparison
FEQD.L has a 0.30% expense ratio, which is lower than EXS3.DE's 0.51% expense ratio.
Dividends
FEQD.L vs. EXS3.DE - Dividend Comparison
Neither FEQD.L nor EXS3.DE has paid dividends to shareholders.
| 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% |
FEQD.L Fidelity Europe Quality Income 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
FEQD.L and EXS3.DE have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FEQD.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FEQD.L is cheaper with a 0.30% expense ratio, compared with 0.51% for EXS3.DE.
FEQD.L tracks MSCI Europe High Div Yld NR EUR, while EXS3.DE tracks MDAX®. They also come from different issuers: FIL Investment Management (Luxembourg) S.A., Irela and iShares. Their fees differ too: 0.30% for FEQD.L and 0.51% for EXS3.DE.
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