FTAL.L vs. EIRL

Last updated Jun 13, 2026

FTAL.L (SPDR FTSE UK All Share UCITS ETF) and EIRL (iShares MSCI Ireland ETF) are both Europe Equities funds - FTAL.L tracks the FTSE AllSh TR GBP while EIRL tracks the MSCI Ireland Investable Market 25/50 Index. Both are passively managed. Over the past 10 years, FTAL.L returned 9.25%/yr vs 9.74%/yr for EIRL. A 0.51 correlation means they provide meaningful diversification when combined. FTAL.L charges 0.20%/yr vs 0.49%/yr for EIRL.

Performance

FTAL.L vs. EIRL - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR FTSE UK All Share UCITS ETF (FTAL.L) and iShares MSCI Ireland ETF (EIRL). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FTAL.L is traded in GBP, while EIRL is traded in USD. To make them comparable, the EIRL values have been converted to GBP using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with FTAL.L having a 7.14% return and EIRL slightly higher at 7.44%. Over the past 10 years, FTAL.L has underperformed EIRL with an annualized return of 9.25%, while EIRL has yielded a comparatively higher 9.74% annualized return.

FTAL.L

• 1D: 1.76%
• 1M: 1.53%
• YTD: 7.14%
• 6M: 10.13%
• 1Y: 21.14%
• 3Y*: 14.47%
• 5Y*: 10.33%
• 10Y*: 9.25%

EIRL

• 1D: 0.59%
• 1M: 7.73%
• YTD: 7.44%
• 6M: 7.20%
• 1Y: 20.26%
• 3Y*: 11.60%
• 5Y*: 8.36%
• 10Y*: 9.74%

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

FTAL.L vs. EIRL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTAL.L SPDR FTSE UK All Share UCITS ETF	7.14%	23.19%	9.03%	7.92%	0.55%	17.18%	-9.96%	19.28%	-9.70%	12.98%
EIRL iShares MSCI Ireland ETF	7.44%	19.64%	0.08%	28.37%	-9.18%	14.80%	6.41%	23.28%	-17.30%	18.59%

Correlation

The correlation between FTAL.L and EIRL is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Feb 28, 2012	0.51

The correlation between FTAL.L and EIRL has been stable across timeframes, ranging from 0.48 to 0.54 - a consistent structural relationship.

FTAL.L vs. EIRL - Sectors Allocation Comparison

Sectors	FTAL.L	EIRL
Financial Services	24.2%	34.0%
Industrials	14.5%	24.8%
Healthcare	12.8%	10.2%
Consumer Defensive	12.1%	14.6%
Energy	10.9%	4.8%
Basic Materials	8.4%	0.5%
Consumer Cyclical	5.6%	8.8%
Utilities	5.1%	-
Communication Services	3.0%	-
Real Estate	1.7%	2.1%
Technology	1.7%	0.3%

Return for Risk

FTAL.L vs. EIRL — Risk / Return Rank

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

FTAL.L

FTAL.L Risk / Return Rank: 60
FTAL.L Sharpe Ratio Rank: 64
FTAL.L Sortino Ratio Rank: 66
FTAL.L Omega Ratio Rank: 67
FTAL.L Calmar Ratio Rank: 52
FTAL.L Martin Ratio Rank: 50

EIRL

EIRL Risk / Return Rank: 32
EIRL Sharpe Ratio Rank: 32
EIRL Sortino Ratio Rank: 32
EIRL Omega Ratio Rank: 32
EIRL Calmar Ratio Rank: 29
EIRL Martin Ratio Rank: 32

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.

FTAL.L vs. EIRL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR FTSE UK All Share UCITS ETF (FTAL.L) and iShares MSCI Ireland ETF (EIRL). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FTAL.L	EIRL	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.27	+0.59
Sortino ratio: Return per unit of downside risk	2.65	1.89	+0.75
Omega ratio: Gain probability vs. loss probability	1.35	1.23	+0.11
Calmar ratio: Return relative to maximum drawdown	2.29	1.65	+0.63
Martin ratio: Return relative to average drawdown	7.53	5.77	+1.76

FTAL.L vs. EIRL - Sharpe Ratio Comparison

The current FTAL.L Sharpe Ratio is 1.85, which is higher than the EIRL Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of FTAL.L and EIRL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FTAL.L vs. EIRL - Drawdown Comparison

The maximum FTAL.L drawdown since its inception was -35.26%, smaller than the maximum EIRL drawdown of -37.66%. Use the drawdown chart below to compare losses from any high point for FTAL.L and EIRL.

Drawdown Indicators

	FTAL.L	EIRL	Difference
Max Drawdown Largest peak-to-trough decline	-35.26%	-37.66%	+2.40%
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	-12.30%	+3.35%
Max Drawdown (3Y) Largest decline over 3 years	-13.17%	-22.50%	+9.33%
Max Drawdown (5Y) Largest decline over 5 years	-13.17%	-27.20%	+14.03%
Max Drawdown (10Y) Largest decline over 10 years	-35.26%	-37.66%	+2.40%
Current Drawdown Current decline from peak	-2.68%	0.00%	-2.68%
Average Drawdown Average peak-to-trough decline	-4.26%	-7.59%	+3.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	3.53%	-0.80%

Volatility

FTAL.L vs. EIRL - Volatility Comparison

SPDR FTSE UK All Share UCITS ETF (FTAL.L) and iShares MSCI Ireland ETF (EIRL) have volatilities of 3.87% and 3.71%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTAL.L	EIRL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	3.71%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	13.30%	-3.62%
Volatility (1Y) Calculated over the trailing 1-year period	11.06%	16.07%	-5.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.74%	18.17%	-5.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.76%	19.27%	-4.51%

FTAL.L vs. EIRL - Expense Ratio Comparison

FTAL.L has a 0.20% expense ratio, which is lower than EIRL's 0.49% expense ratio.

Dividends

FTAL.L vs. EIRL - Dividend Comparison

FTAL.L has not paid dividends to shareholders, while EIRL's dividend yield for the trailing twelve months is around 2.53%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIRL iShares MSCI Ireland ETF	2.53%	2.71%	2.56%	1.00%	1.13%	0.82%	0.50%	2.11%	1.52%	1.44%	1.34%	1.70%
FTAL.L SPDR FTSE UK All Share 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

Can I hold both FTAL.L and EIRL in my portfolio?

FTAL.L and EIRL have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTAL.L or EIRL?

On fees, FTAL.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTAL.L or EIRL?

FTAL.L is cheaper with a 0.20% expense ratio, compared with 0.49% for EIRL.

What is the main difference between FTAL.L and EIRL?

FTAL.L tracks FTSE AllSh TR GBP, while EIRL tracks MSCI Ireland Investable Market 25/50 Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for FTAL.L and 0.49% for EIRL.