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FEZ vs. XEU.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FEZ vs. XEU.TO

Last updated Jun 9, 2026

FEZ (SPDR EURO STOXX 50 ETF) and XEU.TO (iShares MSCI Europe IMI Index ETF) are both Europe Equities funds - FEZ tracks the EURO STOXX 50 Index while XEU.TO tracks the Morningstar Eur GR CAD. Both are passively managed. Over the past 10 years, FEZ returned 10.66%/yr vs 9.28%/yr for XEU.TO. A 0.68 correlation means they provide meaningful diversification when combined. FEZ charges 0.29%/yr vs 0.28%/yr for XEU.TO.

Performance

FEZ vs. XEU.TO - Performance Comparison

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

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Different Trading Currencies

FEZ is traded in USD, while XEU.TO is traded in CAD. To make them comparable, the XEU.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with FEZ having a 4.68% return and XEU.TO slightly lower at 4.59%. Over the past 10 years, FEZ has outperformed XEU.TO with an annualized return of 10.66%, while XEU.TO has yielded a comparatively lower 9.28% annualized return.

FEZ

1D
0.63%
1M
0.33%
YTD
4.68%
6M
6.49%
1Y
15.20%
3Y*
17.76%
5Y*
9.78%
10Y*
10.66%

XEU.TO

1D
-0.18%
1M
-0.77%
YTD
4.59%
6M
8.01%
1Y
14.92%
3Y*
15.65%
5Y*
7.60%
10Y*
9.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FEZ vs. XEU.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FEZ
SPDR EURO STOXX 50 ETF		4.68%37.81%3.57%27.16%-14.27%14.84%4.84%26.04%-15.85%24.80%
XEU.TO
iShares MSCI Europe IMI Index ETF		4.59%35.59%0.80%20.24%-15.82%16.41%5.67%23.38%-15.24%27.08%

Correlation

The correlation between FEZ and XEU.TO is 0.80, 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

0.80

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

0.76

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

0.72

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

0.69

Correlation (All Time)
Calculated using the full available price history since Apr 23, 2014

0.68

The correlation between FEZ and XEU.TO shifts across timeframes, from 0.68 (all time) to 0.80 (1 year), reflecting how their relationship changes across market environments.

FEZ vs. XEU.TO - Sectors Allocation Comparison

Sectors
FEZ
XEU.TO

Financial Services

25.1%
22.5%

Industrials

22.1%
15.6%

Technology

16.1%
8.4%

Consumer Cyclical

9.8%
6.5%

Consumer Defensive

5.5%
8.0%

Healthcare

5.4%
10.5%

Energy

5.2%
4.0%

Utilities

4.8%
3.5%

Basic Materials

3.7%
5.3%

Communication Services

2.3%
3.3%

Real Estate

-

1.4%

Financial Services

FEZ
25.1%
XEU.TO
22.5%

Industrials

FEZ
22.1%
XEU.TO
15.6%

Technology

FEZ
16.1%
XEU.TO
8.4%

Consumer Cyclical

FEZ
9.8%
XEU.TO
6.5%

Consumer Defensive

FEZ
5.5%
XEU.TO
8.0%

Healthcare

FEZ
5.4%
XEU.TO
10.5%

Energy

FEZ
5.2%
XEU.TO
4.0%

Utilities

FEZ
4.8%
XEU.TO
3.5%

Basic Materials

FEZ
3.7%
XEU.TO
5.3%

Communication Services

FEZ
2.3%
XEU.TO
3.3%

Real Estate

FEZ

-

XEU.TO
1.4%

Compare stocks, funds, or ETFs

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

SPDR EURO STOXX 50 ETF

iShares MSCI Europe IMI Index ETF

Often compared with FEZ:
FEZ vs. VGKFEZ vs. IEURFEZ vs. EZUFEZ vs. IEVFEZ vs. VOOFEZ vs. EWQFEZ vs. EWN
Often compared with XEU.TO:
XEU.TO vs. XEH.TOXEU.TO vs. XEF.TOXEU.TO vs. VE.TOXEU.TO vs. VEAXEU.TO vs. HXS.TOXEU.TO vs. XUS.TOXEU.TO vs. XDIV.TO

Return for Risk

FEZ vs. XEU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FEZ
FEZ Risk / Return Rank: 2626
Overall Rank
FEZ Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
FEZ Sortino Ratio Rank: 2525
Sortino Ratio Rank
FEZ Omega Ratio Rank: 2525
Omega Ratio Rank
FEZ Calmar Ratio Rank: 2626
Calmar Ratio Rank
FEZ Martin Ratio Rank: 2929
Martin Ratio Rank
XEU.TO
XEU.TO Risk / Return Rank: 3636
Overall Rank
XEU.TO Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
XEU.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
XEU.TO Omega Ratio Rank: 3737
Omega Ratio Rank
XEU.TO Calmar Ratio Rank: 3232
Calmar Ratio Rank
XEU.TO Martin Ratio Rank: 3939
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.

FEZ vs. XEU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR EURO STOXX 50 ETF (FEZ) and iShares MSCI Europe IMI Index ETF (XEU.TO). 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.

FEZXEU.TODifference
Sharpe ratioReturn per unit of total volatility
0.84
0.99

-0.15

Sortino ratioReturn per unit of downside risk
1.29
1.47

-0.18

Omega ratioGain probability vs. loss probability

1.16

1.18

-0.03

Calmar ratioReturn relative to maximum drawdown

1.12

1.22

-0.10

Martin ratioReturn relative to average drawdown

3.81

4.56

-0.75

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. XEU.TO - Sharpe Ratio Comparison

The current FEZ Sharpe Ratio is 0.84, which is comparable to the XEU.TO Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of FEZ and XEU.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

FEZXEU.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.84

0.99

-0.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.48

0.47

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

0.53

-0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.36

-0.06

Drawdowns

FEZ vs. XEU.TO - Drawdown Comparison

The maximum FEZ drawdown since its inception was -64.21%, which is greater than XEU.TO's maximum drawdown of -37.36%. Use the drawdown chart below to compare losses from any high point for FEZ and XEU.TO.

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Drawdown Indicators

FEZXEU.TODifference

Max Drawdown

Largest peak-to-trough decline

-64.21%

-37.36%

-26.85%

Max Drawdown (1Y)

Largest decline over 1 year

-13.63%

-12.32%

-1.31%

Max Drawdown (3Y)

Largest decline over 3 years

-15.85%

-14.30%

-1.55%

Max Drawdown (5Y)

Largest decline over 5 years

-35.05%

-32.95%

-2.10%

Max Drawdown (10Y)

Largest decline over 10 years

-39.69%

-37.36%

-2.33%

Current Drawdown

Current decline from peak

-2.79%

-3.23%

+0.44%

Average Drawdown

Average peak-to-trough decline

-17.07%

-8.36%

-8.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.00%

3.28%

+0.72%

Volatility

FEZ vs. XEU.TO - Volatility Comparison

SPDR EURO STOXX 50 ETF (FEZ) has a higher volatility of 5.64% compared to iShares MSCI Europe IMI Index ETF (XEU.TO) at 4.33%. This indicates that FEZ's price experiences larger fluctuations and is considered to be riskier than XEU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FEZXEU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.64%

4.33%

+1.31%

Volatility (6M)

Calculated over the trailing 6-month period

15.06%

12.46%

+2.60%

Volatility (1Y)

Calculated over the trailing 1-year period

18.11%

15.13%

+2.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.64%

16.17%

+4.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.12%

17.54%

+3.58%

FEZ vs. XEU.TO - Expense Ratio Comparison

FEZ has a 0.29% expense ratio, which is higher than XEU.TO's 0.28% expense ratio.

Dividends

FEZ vs. XEU.TO - Dividend Comparison

FEZ's dividend yield for the trailing twelve months is around 2.58%, more than XEU.TO's 2.32% yield.

PositionTTM20252024202320222021202020192018201720162015
FEZ
SPDR EURO STOXX 50 ETF		2.58%2.78%2.94%2.75%3.06%2.61%2.13%2.61%3.45%2.44%3.35%3.03%
XEU.TO
iShares MSCI Europe IMI Index ETF		2.32%2.47%2.68%2.96%3.02%2.42%1.98%3.56%3.28%2.26%2.91%2.33%

Frequently Asked Questions

FEZ and XEU.TO have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEU.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEU.TO is cheaper with a 0.28% expense ratio, compared with 0.29% for FEZ.

FEZ tracks EURO STOXX 50 Index, while XEU.TO tracks Morningstar Eur GR CAD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.29% for FEZ and 0.28% for XEU.TO.

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