IEMU.L vs. ^IBEX
IEMU.L (iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc)) is Europe Equities fund tracking the MSCI EMU NR EUR, while ^IBEX (IBEX 35 Index) is an index. Over the past 5 years, IEMU.L returned 9.61%/yr vs 13.93%/yr for ^IBEX. A 0.77 correlation means they provide meaningful diversification when combined.
Performance
IEMU.L vs. ^IBEX - Performance Comparison
Loading charts...
Different Trading Currencies
IEMU.L is traded in USD, while ^IBEX is traded in EUR. To make them comparable, the ^IBEX values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEMU.L achieves a 8.00% return, which is significantly higher than ^IBEX's 4.40% return.
IEMU.L
- 1D
- 0.59%
- 1M
- 0.86%
- YTD
- 8.00%
- 6M
- 10.61%
- 1Y
- 19.54%
- 3Y*
- 19.32%
- 5Y*
- 9.61%
- 10Y*
- —
^IBEX
- 1D
- 0.67%
- 1M
- 2.73%
- YTD
- 4.40%
- 6M
- 8.83%
- 1Y
- 31.83%
- 3Y*
- 28.72%
- 5Y*
- 13.93%
- 10Y*
- 7.80%
IEMU.L vs. ^IBEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IEMU.L iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc) | 8.00% | 39.99% | 3.03% | 24.18% | -17.17% | 13.22% | 7.98% | 7.94% |
^IBEX IBEX 35 Index | 4.38% | 69.32% | 7.68% | 26.64% | -10.76% | 0.04% | -7.97% | 3.01% |
Correlation
The correlation between IEMU.L and ^IBEX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2019 | 0.77 |
The correlation between IEMU.L and ^IBEX has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IEMU.L vs. ^IBEX — Risk / Return Rank
IEMU.L
^IBEX
IEMU.L vs. ^IBEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc) (IEMU.L) and IBEX 35 Index (^IBEX). 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.
| IEMU.L | ^IBEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.31 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 2.72 | -1.09 |
| Martin ratioReturn relative to average drawdown | 5.85 | 8.71 | -2.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IEMU.L | ^IBEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 1.74 | -0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.69 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.01 | +0.56 |
Drawdowns
IEMU.L vs. ^IBEX - Drawdown Comparison
The maximum IEMU.L drawdown since its inception was -38.74%, smaller than the maximum ^IBEX drawdown of -71.44%. Use the drawdown chart below to compare losses from any high point for IEMU.L and ^IBEX.
Loading charts...
Drawdown Indicators
| IEMU.L | ^IBEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.74% | -71.44% | +32.70% |
Max Drawdown (1Y)Largest decline over 1 year | -12.28% | -11.37% | -0.91% |
Max Drawdown (3Y)Largest decline over 3 years | -14.50% | -12.06% | -2.44% |
Max Drawdown (5Y)Largest decline over 5 years | -35.69% | -37.37% | +1.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.25% | — |
Current DrawdownCurrent decline from peak | -0.31% | -9.30% | +8.99% |
Average DrawdownAverage peak-to-trough decline | -6.94% | -46.73% | +39.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.43% | 3.60% | -0.17% |
Volatility
IEMU.L vs. ^IBEX - Volatility Comparison
iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc) (IEMU.L) has a higher volatility of 5.66% compared to IBEX 35 Index (^IBEX) at 5.06%. This indicates that IEMU.L's price experiences larger fluctuations and is considered to be riskier than ^IBEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IEMU.L | ^IBEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.66% | 5.06% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 14.14% | 14.76% | -0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.96% | 17.76% | -0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.30% | 19.63% | +0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.99% | 20.76% | +1.23% |
Frequently Asked Questions
IEMU.L and ^IBEX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for IEMU.L and ^IBEX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer