FEZ vs. BBEU

Last updated Jun 4, 2026

FEZ (SPDR EURO STOXX 50 ETF) and BBEU (JPMorgan BetaBuilders Europe ETF) are both Europe Equities funds - FEZ tracks the EURO STOXX 50 Index while BBEU tracks the Morningstar Developed Europe Target Market Exposure Index. Both are passively managed. Over the past 5 years, FEZ returned 9.90%/yr vs 8.77%/yr for BBEU. With a 0.96 correlation, they move nearly in lockstep. FEZ charges 0.29%/yr vs 0.09%/yr for BBEU.

Performance

FEZ vs. BBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR EURO STOXX 50 ETF (FEZ) and JPMorgan BetaBuilders Europe ETF (BBEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEZ achieves a 5.18% return, which is significantly lower than BBEU's 5.53% return.

FEZ

• 1D: -1.26%
• 1M: 5.21%
• YTD: 5.18%
• 6M: 6.87%
• 1Y: 16.91%
• 3Y*: 17.72%
• 5Y*: 9.90%
• 10Y*: 10.28%

BBEU

• 1D: -1.22%
• 1M: 2.67%
• YTD: 5.53%
• 6M: 8.51%
• 1Y: 18.25%
• 3Y*: 16.49%
• 5Y*: 8.77%
• 10Y*: —

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

FEZ vs. BBEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FEZ SPDR EURO STOXX 50 ETF	5.18%	37.81%	3.57%	27.16%	-14.27%	14.84%	4.84%	26.04%	-14.58%
BBEU JPMorgan BetaBuilders Europe ETF	5.53%	36.37%	1.85%	20.31%	-14.72%	17.50%	5.00%	23.96%	-13.25%

Correlation

The correlation between FEZ and BBEU is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jun 19, 2018	0.96

The correlation between FEZ and BBEU has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.

FEZ vs. BBEU - Sectors Allocation Comparison

Sectors	FEZ	BBEU
Financial Services	23.4%	21.8%
Industrials	20.1%	14.8%
Technology	17.9%	7.7%
Consumer Cyclical	8.6%	4.7%
Consumer Defensive	5.4%	8.4%
Healthcare	5.2%	10.7%
Energy	5.0%	3.4%
Utilities	4.6%	3.0%
Communication Services	3.5%	2.8%
Basic Materials	3.5%	4.5%
Real Estate	-	0.3%

Return for Risk

FEZ vs. BBEU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FEZ

FEZ Risk / Return Rank: 26
FEZ Sharpe Ratio Rank: 26
FEZ Sortino Ratio Rank: 26
FEZ Omega Ratio Rank: 25
FEZ Calmar Ratio Rank: 26
FEZ Martin Ratio Rank: 29

BBEU

BBEU Risk / Return Rank: 32
BBEU Sharpe Ratio Rank: 32
BBEU Sortino Ratio Rank: 32
BBEU Omega Ratio Rank: 31
BBEU Calmar Ratio Rank: 31
BBEU Martin Ratio Rank: 36

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.

FEZ vs. BBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR EURO STOXX 50 ETF (FEZ) and JPMorgan BetaBuilders Europe ETF (BBEU). 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.

	FEZ	BBEU	Difference
Sharpe ratio: Return per unit of total volatility	0.95	1.19	-0.24
Sortino ratio: Return per unit of downside risk	1.43	1.73	-0.30
Omega ratio: Gain probability vs. loss probability	1.17	1.21	-0.04
Calmar ratio: Return relative to maximum drawdown	1.25	1.50	-0.25
Martin ratio: Return relative to average drawdown	4.25	5.57	-1.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEZ vs. BBEU - Sharpe Ratio Comparison

The current FEZ Sharpe Ratio is 0.95, which is comparable to the BBEU Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of FEZ and BBEU, 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

	FEZ	BBEU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	1.19	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.50	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.47	-0.17

Drawdowns

FEZ vs. BBEU - Drawdown Comparison

The maximum FEZ drawdown since its inception was -64.21%, which is greater than BBEU's maximum drawdown of -36.27%. Use the drawdown chart below to compare losses from any high point for FEZ and BBEU.

Drawdown Indicators

	FEZ	BBEU	Difference
Max Drawdown Largest peak-to-trough decline	-64.21%	-36.27%	-27.94%
Max Drawdown (1Y) Largest decline over 1 year	-13.63%	-12.23%	-1.40%
Max Drawdown (3Y) Largest decline over 3 years	-15.85%	-14.23%	-1.62%
Max Drawdown (5Y) Largest decline over 5 years	-35.05%	-31.08%	-3.97%
Max Drawdown (10Y) Largest decline over 10 years	-39.69%	—	—
Current Drawdown Current decline from peak	-2.33%	-2.65%	+0.32%
Average Drawdown Average peak-to-trough decline	-17.07%	-6.14%	-10.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	3.28%	+0.71%

Volatility

FEZ vs. BBEU - Volatility Comparison

SPDR EURO STOXX 50 ETF (FEZ) has a higher volatility of 6.72% compared to JPMorgan BetaBuilders Europe ETF (BBEU) at 5.62%. This indicates that FEZ's price experiences larger fluctuations and is considered to be riskier than BBEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEZ	BBEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.72%	5.62%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	14.85%	12.98%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	17.91%	15.49%	+2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.61%	17.49%	+3.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.11%	19.32%	+1.79%

FEZ vs. BBEU - Expense Ratio Comparison

FEZ has a 0.29% expense ratio, which is higher than BBEU's 0.09% expense ratio.

Dividends

FEZ vs. BBEU - Dividend Comparison

FEZ's dividend yield for the trailing twelve months is around 2.57%, less than BBEU's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBEU JPMorgan BetaBuilders Europe ETF	2.82%	2.83%	4.16%	2.94%	4.72%	2.63%	2.29%	3.24%	0.49%	0.00%	0.00%	0.00%
FEZ SPDR EURO STOXX 50 ETF	2.57%	2.78%	2.94%	2.75%	3.06%	2.61%	2.13%	2.61%	3.45%	2.44%	3.35%	3.03%

Frequently Asked Questions

Can I hold both FEZ and BBEU in my portfolio?

With a correlation of 0.96, FEZ and BBEU 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 is riskier, FEZ or BBEU?

FEZ has higher volatility (6.72%) compared to BBEU (5.62%). In terms of maximum drawdown, FEZ dropped -64.21% vs BBEU's -36.27%.

Which ETF is better, FEZ or BBEU?

On 5-year performance, FEZ leads with 9.90% vs 8.77% for BBEU. On fees, BBEU is cheaper at 0.09% per year. On volatility, BBEU has been the lower-risk option at 5.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEZ or BBEU?

Over the 5-year period, FEZ has performed better with a 9.90% return vs 8.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEZ or BBEU?

BBEU is cheaper with a 0.09% expense ratio, compared with 0.29% for FEZ.

Which ETF pays a higher dividend yield, FEZ or BBEU?

BBEU has the higher dividend yield at 2.82%, compared with 2.57% for FEZ.

What is the main difference between FEZ and BBEU?

FEZ tracks EURO STOXX 50 Index, while BBEU tracks Morningstar Developed Europe Target Market Exposure Index. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.29% for FEZ and 0.09% for BBEU.

Which has better risk-adjusted returns?

BBEU currently has the higher Sharpe Ratio (1.19 vs 0.95), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.