IAEX.L vs. BNKE.L

Last updated Jul 16, 2026

IAEX.L (iShares AEX UCITS ETF EUR (Dist)) and BNKE.L (Lyxor EURO STOXX Banks (DR) UCITS ETF - Acc) are both exchange-traded funds - IAEX.L is a Europe Equities fund tracking the Euronext AEX All Share TR EUR, while BNKE.L is a Financials Equities fund tracking the MSCI World/Financials NR USD. Both are passively managed. Over the past 5 years, IAEX.L returned 10.42%/yr vs 34.32%/yr for BNKE.L. A 0.54 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.

Performance

IAEX.L vs. BNKE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares AEX UCITS ETF EUR (Dist) (IAEX.L) and Lyxor EURO STOXX Banks (DR) UCITS ETF - Acc (BNKE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IAEX.L is traded in GBp, while BNKE.L is traded in GBP. To make them comparable, the BNKE.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with IAEX.L having a 13.77% return and BNKE.L slightly lower at 13.64%.

IAEX.L

• 1D: -0.08%
• 1M: 0.06%
• 6M: 9.13%
• YTD: 13.77%
• 1Y: 18.77%
• 3Y*: 14.19%
• 5Y*: 10.42%
• 10Y*: 12.05%

BNKE.L

• 1D: -1.04%
• 1M: 3.60%
• 6M: 10.89%
• YTD: 13.64%
• 1Y: 50.70%
• 3Y*: 46.91%
• 5Y*: 34.32%
• 10Y*: —

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

IAEX.L vs. BNKE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IAEX.L iShares AEX UCITS ETF EUR (Dist)	13.77%	16.14%	8.60%	14.11%	-6.28%	21.00%	10.97%	0.86%
BNKE.L Lyxor EURO STOXX Banks (DR) UCITS ETF - Acc	13.64%	99.94%	25.19%	27.75%	6.76%	31.16%	-18.12%	2.42%

Correlation

The correlation between IAEX.L and BNKE.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jul 23, 2019	0.54

The correlation between IAEX.L and BNKE.L has been stable across timeframes, ranging from 0.49 to 0.55 - a consistent structural relationship.

IAEX.L vs. BNKE.L - Sectors Allocation Comparison

Sectors	IAEX.L	BNKE.L
Technology	25.3%	-
Consumer Defensive	18.9%	-
Financial Services	15.7%	100.0%
Energy	14.9%	-
Industrials	8.3%	-
Basic Materials	5.6%	-
Consumer Cyclical	4.9%	-
Communication Services	3.9%	-
Healthcare	2.0%	-
Real Estate	0.4%	-
Utilities	-	-

Return for Risk

IAEX.L vs. BNKE.L — Risk / Return Rank

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

IAEX.L

IAEX.L Risk / Return Rank: 53
IAEX.L Sharpe Ratio Rank: 51
IAEX.L Sortino Ratio Rank: 51
IAEX.L Omega Ratio Rank: 50
IAEX.L Calmar Ratio Rank: 61
IAEX.L Martin Ratio Rank: 53

BNKE.L

BNKE.L Risk / Return Rank: 77
BNKE.L Sharpe Ratio Rank: 85
BNKE.L Sortino Ratio Rank: 82
BNKE.L Omega Ratio Rank: 78
BNKE.L Calmar Ratio Rank: 74
BNKE.L Martin Ratio Rank: 68

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.

IAEX.L vs. BNKE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares AEX UCITS ETF EUR (Dist) (IAEX.L) and Lyxor EURO STOXX Banks (DR) UCITS ETF - Acc (BNKE.L). 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.

	IAEX.L	BNKE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.45	2.17	-0.72
Sortino ratio: Return per unit of downside risk	2.07	2.92	-0.85
Omega ratio: Gain probability vs. loss probability	1.26	1.36	-0.10
Calmar ratio: Return relative to maximum drawdown	2.48	3.03	-0.55
Martin ratio: Return relative to average drawdown	7.33	9.78	-2.46

IAEX.L vs. BNKE.L - Sharpe Ratio Comparison

The current IAEX.L Sharpe Ratio is 1.45, which is lower than the BNKE.L Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of IAEX.L and BNKE.L, 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

IAEX.L vs. BNKE.L - Drawdown Comparison

The maximum IAEX.L drawdown since its inception was -63.74%, which is greater than BNKE.L's maximum drawdown of -48.52%. Use the drawdown chart below to compare losses from any high point for IAEX.L and BNKE.L.

Drawdown Indicators

	IAEX.L	BNKE.L	Difference
Max Drawdown Largest peak-to-trough decline	-63.74%	-48.52%	-15.22%
Max Drawdown (1Y) Largest decline over 1 year	-7.54%	-16.66%	+9.12%
Max Drawdown (3Y) Largest decline over 3 years	-12.80%	-18.40%	+5.60%
Max Drawdown (5Y) Largest decline over 5 years	-21.96%	-34.20%	+12.24%
Max Drawdown (10Y) Largest decline over 10 years	-28.85%	—	—
Current Drawdown Current decline from peak	-0.80%	-2.22%	+1.42%
Average Drawdown Average peak-to-trough decline	-16.56%	-10.34%	-6.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	5.17%	-2.61%

Volatility

IAEX.L vs. BNKE.L - Volatility Comparison

The current volatility for iShares AEX UCITS ETF EUR (Dist) (IAEX.L) is 3.29%, while Lyxor EURO STOXX Banks (DR) UCITS ETF - Acc (BNKE.L) has a volatility of 5.67%. This indicates that IAEX.L experiences smaller price fluctuations and is considered to be less risky than BNKE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAEX.L	BNKE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	5.67%	-2.38%
Volatility (6M) Calculated over the trailing 6-month period	9.95%	19.45%	-9.50%
Volatility (1Y) Calculated over the trailing 1-year period	12.85%	23.27%	-10.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.19%	25.43%	-10.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.10%	29.40%	-13.30%

IAEX.L vs. BNKE.L - Expense Ratio Comparison

Both IAEX.L and BNKE.L have an expense ratio of 0.30%.

Dividends

IAEX.L vs. BNKE.L - Dividend Comparison

IAEX.L's dividend yield for the trailing twelve months is around 1.95%, while BNKE.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNKE.L Lyxor EURO STOXX Banks (DR) UCITS ETF - Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IAEX.L iShares AEX UCITS ETF EUR (Dist)	1.95%	2.03%	2.16%	2.09%	2.20%	1.57%	1.41%	2.89%	3.11%	2.70%	2.73%	2.85%

Frequently Asked Questions

Can I hold both IAEX.L and BNKE.L in my portfolio?

IAEX.L and BNKE.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IAEX.L or BNKE.L?

Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IAEX.L or BNKE.L?

IAEX.L and BNKE.L have the same expense ratio: 0.30% per year.

What is the main difference between IAEX.L and BNKE.L?

IAEX.L is categorized as Europe Equities, while BNKE.L is Financials Equities. IAEX.L tracks Euronext AEX All Share TR EUR, while BNKE.L tracks MSCI World/Financials NR USD. They also come from different issuers: iShares and Amundi.