IAI vs. EUFN

Last updated Aug 4, 2026

IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF) and EUFN (iShares MSCI Europe Financials ETF) are both Financials Equities funds from iShares - IAI tracks the Dow Jones U.S. Select Investment Services Index while EUFN tracks the MSCI Europe Financials Index (Net). Both are passively managed. Over the past 10 years, IAI returned 18.54%/yr vs 14.68%/yr for EUFN. Their 0.66 correlation means they have sometimes moved together and sometimes differently. IAI charges 0.38%/yr vs 0.49%/yr for EUFN.

Performance

IAI vs. EUFN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and iShares MSCI Europe Financials ETF (EUFN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IAI achieves a 5.15% return, which is significantly lower than EUFN's 16.93% return. Over the past 10 years, IAI has outperformed EUFN with an annualized return of 18.54%, while EUFN has yielded a comparatively lower 14.68% annualized return.

IAI

• 1D: 0.57%
• 1M: 1.65%
• 6M: 1.99%
• YTD: 5.15%
• 1Y: 10.86%
• 3Y*: 26.32%
• 5Y*: 14.47%
• 10Y*: 18.54%
• ALL TIME*: 8.25%

EUFN

• 1D: 1.01%
• 1M: 5.62%
• 6M: 11.63%
• YTD: 16.93%
• 1Y: 38.68%
• 3Y*: 35.13%
• 5Y*: 21.93%
• 10Y*: 14.68%
• ALL TIME*: 7.83%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EUFN iShares MSCI Europe Financials ETF	$50.49M	$59.15M	$51.02M
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF	$10.94M	$13.67M	$19.10M

IAI vs. EUFN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF	5.15%	25.80%	34.37%	15.27%	-10.87%	40.48%	18.61%	24.26%	-9.47%	28.86%
EUFN iShares MSCI Europe Financials ETF	16.93%	65.73%	17.20%	26.15%	-8.78%	19.13%	-8.55%	20.73%	-23.14%	26.94%

Correlation

The correlation between IAI and EUFN is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.60
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (10Y) Provides a long-term view across more market conditions.	0.66
Correlation (All Time) Calculated using the full available price history since Feb 3, 2010	0.66

The correlation between IAI and EUFN has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.

IAI vs. EUFN - Sectors Allocation Comparison

Sectors	IAI	EUFN
Financial Services	99.9%	98.1%
Technology	0.1%	0.9%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	0.2%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	0.4%
Real Estate	-	-
Utilities	-	-

Return for Risk

IAI vs. EUFN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IAI

IAI Risk / Return Rank: 24
IAI Sharpe Ratio Rank: 24
IAI Sortino Ratio Rank: 24
IAI Omega Ratio Rank: 24
IAI Calmar Ratio Rank: 23
IAI Martin Ratio Rank: 24

EUFN

EUFN Risk / Return Rank: 77
EUFN Sharpe Ratio Rank: 81
EUFN Sortino Ratio Rank: 81
EUFN Omega Ratio Rank: 75
EUFN Calmar Ratio Rank: 73
EUFN Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IAI vs. EUFN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and iShares MSCI Europe Financials ETF (EUFN). 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.

	IAI	EUFN	Difference
Sharpe ratio: Return per unit of total volatility	0.54	1.91	-1.37
Sortino ratio: Return per unit of downside risk	0.87	2.67	-1.80
Omega ratio: Gain probability vs. loss probability	1.11	1.32	-0.21
Calmar ratio: Return relative to maximum drawdown	0.66	2.63	-1.97
Martin ratio: Return relative to average drawdown	1.83	9.24	-7.41

IAI vs. EUFN - Sharpe Ratio Comparison

The current IAI Sharpe Ratio is 0.54, which is lower than the EUFN Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of IAI and EUFN, 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

IAI vs. EUFN - Drawdown Comparison

The maximum IAI drawdown since its inception was -75.46%, which is greater than EUFN's maximum drawdown of -53.25%. Use the drawdown chart below to compare losses from any high point for IAI and EUFN.

Drawdown Indicators

	IAI	EUFN	Difference
Max Drawdown Largest peak-to-trough decline	-75.46%	-53.25%	-22.21%
Max Drawdown (1Y) Largest decline over 1 year	-16.52%	-14.77%	-1.75%
Max Drawdown (3Y) Largest decline over 3 years	-23.14%	-15.95%	-7.19%
Max Drawdown (5Y) Largest decline over 5 years	-28.84%	-35.15%	+6.31%
Max Drawdown (10Y) Largest decline over 10 years	-40.38%	-53.25%	+12.87%
Current Drawdown Current decline from peak	-4.58%	0.00%	-4.58%
Average Drawdown Average peak-to-trough decline	-22.50%	-14.42%	-8.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.96%	4.20%	+1.76%

Volatility

IAI vs. EUFN - Volatility Comparison

iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and iShares MSCI Europe Financials ETF (EUFN) have volatilities of 6.40% and 6.11%, 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

	IAI	EUFN	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.40%	6.11%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	16.12%	17.74%	-1.62%
Volatility (1Y) Calculated over the trailing 1-year period	20.14%	20.40%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.52%	21.82%	-0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.76%	23.71%	-0.95%

IAI vs. EUFN - Expense Ratio Comparison

IAI has a 0.38% expense ratio, which is lower than EUFN's 0.49% expense ratio.

Dividends

IAI vs. EUFN - Dividend Comparison

IAI's dividend yield for the trailing twelve months is around 1.09%, less than EUFN's 3.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUFN iShares MSCI Europe Financials ETF	3.93%	3.57%	5.36%	5.00%	4.24%	4.15%	1.38%	4.55%	6.48%	3.04%	4.03%	3.65%
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF	1.09%	0.95%	1.05%	1.80%	2.14%	1.31%	1.55%	1.52%	1.58%	1.37%	1.49%	1.31%

Frequently Asked Questions

Can I hold both IAI and EUFN in my portfolio?

IAI and EUFN have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAI or EUFN?

IAI has higher volatility (6.40%) compared to EUFN (6.11%). In terms of maximum drawdown, IAI dropped -75.46% vs EUFN's -53.25%.

Which ETF is better, IAI or EUFN?

On 10-year performance, IAI leads with 18.54% vs 14.68% for EUFN. On fees, IAI is cheaper at 0.38% per year. On volatility, EUFN has been the lower-risk option at 6.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAI or EUFN?

Over the 10-year period, IAI has performed better with a 18.54% return vs 14.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAI or EUFN?

IAI is cheaper with a 0.38% expense ratio, compared with 0.49% for EUFN.

Which ETF pays a higher dividend yield, IAI or EUFN?

EUFN has the higher dividend yield at 3.93%, compared with 1.09% for IAI.

What is the main difference between IAI and EUFN?

IAI tracks Dow Jones U.S. Select Investment Services Index, while EUFN tracks MSCI Europe Financials Index (Net). Their fees differ too: 0.38% for IAI and 0.49% for EUFN.

Which has better risk-adjusted returns?

EUFN currently has the higher Sharpe Ratio (1.91 vs 0.54), 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.