FXI vs. IEUR

Last updated Jun 4, 2026

FXI (iShares China Large-Cap ETF) and IEUR (iShares Core MSCI Europe ETF) are both exchange-traded funds - FXI is a China Equities fund tracking the FTSE China 25 Index, while IEUR is a Europe Equities fund tracking the MSCI Europe Investable Market Index. Both are passively managed. Over the past 10 years, FXI returned 2.96%/yr vs 9.15%/yr for IEUR. A 0.56 correlation means they provide meaningful diversification when combined. FXI charges 0.74%/yr vs 0.09%/yr for IEUR.

Performance

FXI vs. IEUR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares China Large-Cap ETF (FXI) and iShares Core MSCI Europe ETF (IEUR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXI achieves a -7.18% return, which is significantly lower than IEUR's 5.64% return. Over the past 10 years, FXI has underperformed IEUR with an annualized return of 2.96%, while IEUR has yielded a comparatively higher 9.15% annualized return.

FXI

• 1D: -2.26%
• 1M: -2.76%
• YTD: -7.18%
• 6M: -8.38%
• 1Y: 2.05%
• 3Y*: 11.73%
• 5Y*: -3.18%
• 10Y*: 2.96%

IEUR

• 1D: -1.20%
• 1M: 2.77%
• YTD: 5.64%
• 6M: 8.52%
• 1Y: 17.47%
• 3Y*: 16.09%
• 5Y*: 8.03%
• 10Y*: 9.15%

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

FXI vs. IEUR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXI iShares China Large-Cap ETF	-7.18%	28.95%	28.98%	-12.42%	-20.66%	-20.06%	8.92%	14.90%	-13.28%	36.26%
IEUR iShares Core MSCI Europe ETF	5.64%	35.67%	1.40%	19.71%	-15.90%	16.71%	5.31%	24.95%	-14.86%	26.70%

Correlation

The correlation between FXI and IEUR is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014	0.56

The correlation between FXI and IEUR has been stable across timeframes, ranging from 0.49 to 0.56 - a consistent structural relationship.

FXI vs. IEUR - Sectors Allocation Comparison

Sectors	FXI	IEUR
Financial Services	34.4%	22.5%
Consumer Cyclical	25.7%	6.9%
Communication Services	12.2%	3.8%
Technology	9.3%	8.4%
Energy	5.2%	5.3%
Basic Materials	4.1%	5.8%
Industrials	3.8%	20.4%
Healthcare	2.2%	12.5%
Real Estate	1.1%	1.6%
Consumer Defensive	0.9%	8.0%
Utilities	0.4%	4.8%

Return for Risk

FXI vs. IEUR — Risk / Return Rank

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

FXI

FXI Risk / Return Rank: 10
FXI Sharpe Ratio Rank: 10
FXI Sortino Ratio Rank: 10
FXI Omega Ratio Rank: 9
FXI Calmar Ratio Rank: 10
FXI Martin Ratio Rank: 10

IEUR

IEUR Risk / Return Rank: 31
IEUR Sharpe Ratio Rank: 31
IEUR Sortino Ratio Rank: 31
IEUR Omega Ratio Rank: 30
IEUR Calmar Ratio Rank: 29
IEUR Martin Ratio Rank: 35

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.

FXI vs. IEUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares China Large-Cap ETF (FXI) and iShares Core MSCI Europe ETF (IEUR). 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.

	FXI	IEUR	Difference
Sharpe ratio Return per unit of total volatility	0.10	1.15	-1.04
Sortino ratio Return per unit of downside risk	0.29	1.69	-1.40
Omega ratio Gain probability vs. loss probability	1.03	1.21	-0.17
Calmar ratio Return relative to maximum drawdown	0.13	1.46	-1.33
Martin ratio Return relative to average drawdown	0.28	5.47	-5.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXI vs. IEUR - Sharpe Ratio Comparison

The current FXI Sharpe Ratio is 0.10, which is lower than the IEUR Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of FXI and IEUR, 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

	FXI	IEUR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.10	1.15	-1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.46	-0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.11	0.49	-0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.35	-0.18

Drawdowns

FXI vs. IEUR - Drawdown Comparison

The maximum FXI drawdown since its inception was -72.68%, which is greater than IEUR's maximum drawdown of -36.96%. Use the drawdown chart below to compare losses from any high point for FXI and IEUR.

Drawdown Indicators

	FXI	IEUR	Difference
Max Drawdown Largest peak-to-trough decline	-72.68%	-36.96%	-35.72%
Max Drawdown (1Y) Largest decline over 1 year	-15.62%	-12.04%	-3.58%
Max Drawdown (3Y) Largest decline over 3 years	-28.72%	-14.25%	-14.47%
Max Drawdown (5Y) Largest decline over 5 years	-54.94%	-32.75%	-22.19%
Max Drawdown (10Y) Largest decline over 10 years	-60.81%	-36.96%	-23.85%
Current Drawdown Current decline from peak	-26.91%	-2.31%	-24.60%
Average Drawdown Average peak-to-trough decline	-31.22%	-8.23%	-22.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.22%	3.20%	+4.02%

Volatility

FXI vs. IEUR - Volatility Comparison

iShares China Large-Cap ETF (FXI) has a higher volatility of 7.13% compared to iShares Core MSCI Europe ETF (IEUR) at 5.60%. This indicates that FXI's price experiences larger fluctuations and is considered to be riskier than IEUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXI	IEUR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.13%	5.60%	+1.53%
Volatility (6M) Calculated over the trailing 6-month period	14.35%	12.75%	+1.60%
Volatility (1Y) Calculated over the trailing 1-year period	19.93%	15.32%	+4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.68%	17.73%	+13.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.67%	18.68%	+8.99%

FXI vs. IEUR - Expense Ratio Comparison

FXI has a 0.74% expense ratio, which is higher than IEUR's 0.09% expense ratio.

Dividends

FXI vs. IEUR - Dividend Comparison

FXI's dividend yield for the trailing twelve months is around 2.60%, less than IEUR's 2.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXI iShares China Large-Cap ETF	2.60%	2.42%	1.76%	3.17%	2.61%	1.60%	2.19%	2.74%	2.69%	2.31%	2.69%	2.90%
IEUR iShares Core MSCI Europe ETF	2.81%	2.97%	3.54%	3.17%	3.05%	2.88%	2.13%	3.26%	3.76%	2.64%	3.19%	2.79%

Frequently Asked Questions

Can I hold both FXI and IEUR in my portfolio?

FXI and IEUR have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXI or IEUR?

FXI has higher volatility (7.13%) compared to IEUR (5.60%). In terms of maximum drawdown, FXI dropped -72.68% vs IEUR's -36.96%.

Which ETF is better, FXI or IEUR?

On 10-year performance, IEUR leads with 9.15% vs 2.96% for FXI. On fees, IEUR is cheaper at 0.09% per year. On volatility, IEUR has been the lower-risk option at 5.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXI or IEUR?

Over the 10-year period, IEUR has performed better with a 9.15% return vs 2.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXI or IEUR?

IEUR is cheaper with a 0.09% expense ratio, compared with 0.74% for FXI.

Which ETF pays a higher dividend yield, FXI or IEUR?

IEUR has the higher dividend yield at 2.81%, compared with 2.60% for FXI.

What is the main difference between FXI and IEUR?

FXI is categorized as China Equities, while IEUR is Europe Equities. FXI tracks FTSE China 25 Index, while IEUR tracks MSCI Europe Investable Market Index. Their fees differ too: 0.74% for FXI and 0.09% for IEUR.

Which has better risk-adjusted returns?

IEUR currently has the higher Sharpe Ratio (1.15 vs 0.10), 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.