FSEU.L vs. MOAT

Last updated Jun 7, 2026

FSEU.L (iShares Edge MSCI Europe Multifactor UCITS) and MOAT (VanEck Morningstar Wide Moat ETF) are both exchange-traded funds - FSEU.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. Both are passively managed. Over the past 10 years, FSEU.L returned 10.77%/yr vs 14.32%/yr for MOAT. At a 0.43 correlation, their price movements are largely independent. FSEU.L charges 0.45%/yr vs 0.47%/yr for MOAT.

Performance

FSEU.L vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI Europe Multifactor UCITS (FSEU.L) and VanEck Morningstar Wide Moat ETF (MOAT). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FSEU.L is traded in GBp, while MOAT is traded in USD. To make them comparable, the MOAT values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, FSEU.L achieves a 9.00% return, which is significantly higher than MOAT's -0.47% return. Over the past 10 years, FSEU.L has underperformed MOAT with an annualized return of 10.77%, while MOAT has yielded a comparatively higher 14.32% annualized return.

FSEU.L

• 1D: -0.26%
• 1M: 1.55%
• YTD: 9.00%
• 6M: 12.00%
• 1Y: 22.25%
• 3Y*: 18.16%
• 5Y*: 10.68%
• 10Y*: 10.77%

MOAT

• 1D: -0.77%
• 1M: 2.02%
• YTD: -0.47%
• 6M: -1.73%
• 1Y: 15.07%
• 3Y*: 8.40%
• 5Y*: 9.19%
• 10Y*: 14.32%

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

FSEU.L vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSEU.L iShares Edge MSCI Europe Multifactor UCITS	9.00%	27.11%	9.24%	16.69%	-10.53%	18.42%	5.03%	18.30%	-10.14%	16.67%
MOAT VanEck Morningstar Wide Moat ETF	-0.47%	5.13%	12.67%	25.29%	-3.39%	25.29%	11.47%	29.67%	4.57%	12.53%

Correlation

The correlation between FSEU.L and MOAT is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Sep 7, 2015	0.43

The correlation between FSEU.L and MOAT shifts across timeframes, from 0.32 (3 years) to 0.43 (all time), reflecting how their relationship changes across market environments.

FSEU.L vs. MOAT - Sectors Allocation Comparison

Sectors	FSEU.L	MOAT
Financial Services	28.0%	6.7%
Industrials	17.7%	13.5%
Healthcare	11.5%	16.0%
Technology	8.4%	32.8%
Consumer Defensive	8.2%	17.5%
Consumer Cyclical	6.2%	10.3%
Energy	5.8%	-
Communication Services	5.4%	2.4%
Utilities	5.4%	-
Basic Materials	2.1%	-
Real Estate	1.3%	0.8%

Return for Risk

FSEU.L vs. MOAT — Risk / Return Rank

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

FSEU.L

FSEU.L Risk / Return Rank: 63
FSEU.L Sharpe Ratio Rank: 65
FSEU.L Sortino Ratio Rank: 65
FSEU.L Omega Ratio Rank: 68
FSEU.L Calmar Ratio Rank: 58
FSEU.L Martin Ratio Rank: 60

MOAT

MOAT Risk / Return Rank: 28
MOAT Sharpe Ratio Rank: 30
MOAT Sortino Ratio Rank: 30
MOAT Omega Ratio Rank: 27
MOAT Calmar Ratio Rank: 25
MOAT Martin Ratio Rank: 27

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.

FSEU.L vs. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Multifactor UCITS (FSEU.L) and VanEck Morningstar Wide Moat ETF (MOAT). 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.

	FSEU.L	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.26	+0.70
Sortino ratio: Return per unit of downside risk	2.73	1.83	+0.90
Omega ratio: Gain probability vs. loss probability	1.37	1.21	+0.15
Calmar ratio: Return relative to maximum drawdown	2.63	1.43	+1.20
Martin ratio: Return relative to average drawdown	9.77	3.92	+5.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSEU.L vs. MOAT - Sharpe Ratio Comparison

The current FSEU.L Sharpe Ratio is 1.95, which is higher than the MOAT Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of FSEU.L and MOAT, 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

	FSEU.L	MOAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	1.26	+0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.55	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.78	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.86	-0.39

Drawdowns

FSEU.L vs. MOAT - Drawdown Comparison

The maximum FSEU.L drawdown since its inception was -29.79%, which is greater than MOAT's maximum drawdown of -25.85%. Use the drawdown chart below to compare losses from any high point for FSEU.L and MOAT.

Drawdown Indicators

	FSEU.L	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-29.79%	-25.85%	-3.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.57%	-11.63%	+3.06%
Max Drawdown (3Y) Largest decline over 3 years	-12.08%	-22.90%	+10.82%
Max Drawdown (5Y) Largest decline over 5 years	-20.33%	-22.90%	+2.57%
Max Drawdown (10Y) Largest decline over 10 years	-29.40%	-25.85%	-3.55%
Current Drawdown Current decline from peak	-0.73%	-4.92%	+4.19%
Average Drawdown Average peak-to-trough decline	-6.46%	-3.65%	-2.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	4.25%	-1.94%

Volatility

FSEU.L vs. MOAT - Volatility Comparison

The current volatility for iShares Edge MSCI Europe Multifactor UCITS (FSEU.L) is 2.97%, while VanEck Morningstar Wide Moat ETF (MOAT) has a volatility of 3.57%. This indicates that FSEU.L experiences smaller price fluctuations and is considered to be less risky than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSEU.L	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	3.57%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	9.41%	9.57%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	11.54%	13.32%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.57%	16.80%	-3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.64%	18.46%	-3.82%

FSEU.L vs. MOAT - Expense Ratio Comparison

FSEU.L has a 0.45% expense ratio, which is lower than MOAT's 0.47% expense ratio.

Dividends

FSEU.L vs. MOAT - Dividend Comparison

FSEU.L has not paid dividends to shareholders, while MOAT's dividend yield for the trailing twelve months is around 1.38%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSEU.L iShares Edge MSCI Europe Multifactor UCITS	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MOAT VanEck Morningstar Wide Moat ETF	1.38%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%

Frequently Asked Questions

Can I hold both FSEU.L and MOAT in my portfolio?

FSEU.L and MOAT have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FSEU.L or MOAT?

On fees, FSEU.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FSEU.L or MOAT?

FSEU.L is cheaper with a 0.45% expense ratio, compared with 0.47% for MOAT.

What is the main difference between FSEU.L and MOAT?

FSEU.L is categorized as Europe Equities, while MOAT is Large Cap Blend Equities. FSEU.L tracks MSCI Europe NR EUR, while MOAT tracks Morningstar Wide Moat Focus Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.45% for FSEU.L and 0.47% for MOAT.