IEFS.L vs. FEUD.L
IEFS.L (iShares Edge MSCI Europe Size Factor UCITS ETF) and FEUD.L (First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares) are both Europe Equities funds - IEFS.L tracks the MSCI Europe SMID NR EUR while FEUD.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 5 years, IEFS.L returned 5.82%/yr vs 11.70%/yr for FEUD.L. A 0.74 correlation means they provide meaningful diversification when combined. IEFS.L charges 0.25%/yr vs 0.75%/yr for FEUD.L.
Performance
IEFS.L vs. FEUD.L - Performance Comparison
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Returns By Period
In the year-to-date period, IEFS.L achieves a 5.78% return, which is significantly lower than FEUD.L's 12.20% return.
IEFS.L
- 1D
- -0.28%
- 1M
- 1.57%
- YTD
- 5.78%
- 6M
- 8.60%
- 1Y
- 16.22%
- 3Y*
- 12.43%
- 5Y*
- 5.82%
- 10Y*
- 8.37%
FEUD.L
- 1D
- -0.28%
- 1M
- 3.00%
- YTD
- 12.20%
- 6M
- 16.08%
- 1Y
- 33.92%
- 3Y*
- 22.42%
- 5Y*
- 11.70%
- 10Y*
- —
IEFS.L vs. FEUD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IEFS.L iShares Edge MSCI Europe Size Factor UCITS ETF | 5.78% | 24.40% | 0.75% | 11.87% | -13.35% | 12.21% | 7.23% | 20.36% | -13.03% |
FEUD.L First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares | 12.20% | 47.89% | 4.04% | 10.07% | -9.74% | 13.79% | 0.98% | 17.82% | -15.76% |
Correlation
The correlation between IEFS.L and FEUD.L is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2018 | 0.74 |
The correlation between IEFS.L and FEUD.L has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.
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Return for Risk
IEFS.L vs. FEUD.L — Risk / Return Rank
IEFS.L
FEUD.L
IEFS.L vs. FEUD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.L) and First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares (FEUD.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.
| IEFS.L | FEUD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.47 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 3.54 | -1.91 |
| Martin ratioReturn relative to average drawdown | 5.83 | 12.62 | -6.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEFS.L | FEUD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 2.59 | -1.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.78 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.56 | -0.04 |
Drawdowns
IEFS.L vs. FEUD.L - Drawdown Comparison
The maximum IEFS.L drawdown since its inception was -31.02%, smaller than the maximum FEUD.L drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for IEFS.L and FEUD.L.
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Drawdown Indicators
| IEFS.L | FEUD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.02% | -34.17% | +3.15% |
Max Drawdown (1Y)Largest decline over 1 year | -9.91% | -10.60% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -11.84% | -14.03% | +2.19% |
Max Drawdown (5Y)Largest decline over 5 years | -26.40% | -23.21% | -3.19% |
Max Drawdown (10Y)Largest decline over 10 years | -31.02% | — | — |
Current DrawdownCurrent decline from peak | -2.40% | -0.35% | -2.05% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -6.69% | +0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 2.85% | -0.07% |
Volatility
IEFS.L vs. FEUD.L - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.L) is 3.78%, while First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares (FEUD.L) has a volatility of 3.98%. This indicates that IEFS.L experiences smaller price fluctuations and is considered to be less risky than FEUD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEFS.L | FEUD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.78% | 3.98% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 9.75% | 11.64% | -1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.72% | 14.52% | -2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 17.64% | -2.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 19.90% | -4.31% |
IEFS.L vs. FEUD.L - Expense Ratio Comparison
IEFS.L has a 0.25% expense ratio, which is lower than FEUD.L's 0.75% expense ratio.
Dividends
IEFS.L vs. FEUD.L - Dividend Comparison
IEFS.L has not paid dividends to shareholders, while FEUD.L's dividend yield for the trailing twelve months is around 2.77%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FEUD.L First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares | 2.77% | 3.05% | 3.72% | 2.76% | 2.50% | 1.94% | 1.01% | 1.75% |
IEFS.L iShares Edge MSCI Europe Size Factor UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEFS.L and FEUD.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEFS.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEFS.L is cheaper with a 0.25% expense ratio, compared with 0.75% for FEUD.L.
IEFS.L tracks MSCI Europe SMID NR EUR, while FEUD.L tracks MSCI EMU NR EUR. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.25% for IEFS.L and 0.75% for FEUD.L.
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