IESE.AS vs. DJMC.AS

Last updated Jun 4, 2026

IESE.AS (iShares MSCI Europe SRI UCITS ETF EUR (Acc)) and DJMC.AS (iShares EURO STOXX Mid UCITS ETF) are both Europe Equities funds from iShares - IESE.AS tracks the MSCI Europe NR EUR while DJMC.AS tracks the MSCI EMU SMID NR EUR. Both are passively managed. Over the past 10 years, IESE.AS returned 7.82%/yr vs 8.75%/yr for DJMC.AS. A 0.77 correlation means they provide meaningful diversification when combined. IESE.AS charges 0.20%/yr vs 0.40%/yr for DJMC.AS.

Performance

IESE.AS vs. DJMC.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) and iShares EURO STOXX Mid UCITS ETF (DJMC.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IESE.AS achieves a 6.26% return, which is significantly lower than DJMC.AS's 7.34% return. Over the past 10 years, IESE.AS has underperformed DJMC.AS with an annualized return of 7.82%, while DJMC.AS has yielded a comparatively higher 8.75% annualized return.

IESE.AS

• 1D: -0.98%
• 1M: 4.02%
• YTD: 6.26%
• 6M: 8.13%
• 1Y: 5.45%
• 3Y*: 6.57%
• 5Y*: 5.21%
• 10Y*: 7.82%

DJMC.AS

• 1D: -0.40%
• 1M: 2.25%
• YTD: 7.34%
• 6M: 10.98%
• 1Y: 14.86%
• 3Y*: 14.06%
• 5Y*: 7.04%
• 10Y*: 8.75%

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

IESE.AS vs. DJMC.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IESE.AS iShares MSCI Europe SRI UCITS ETF EUR (Acc)	6.26%	2.40%	6.46%	16.38%	-14.87%	27.26%	3.74%	29.04%	-6.71%	11.41%
DJMC.AS iShares EURO STOXX Mid UCITS ETF	7.34%	24.35%	8.45%	10.46%	-14.94%	16.39%	2.11%	23.40%	-11.44%	18.28%

Correlation

The correlation between IESE.AS and DJMC.AS is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jun 2, 2011	0.77

The correlation between IESE.AS and DJMC.AS has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

Return for Risk

IESE.AS vs. DJMC.AS — Risk / Return Rank

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

IESE.AS

IESE.AS Risk / Return Rank: 15
IESE.AS Sharpe Ratio Rank: 15
IESE.AS Sortino Ratio Rank: 14
IESE.AS Omega Ratio Rank: 14
IESE.AS Calmar Ratio Rank: 15
IESE.AS Martin Ratio Rank: 16

DJMC.AS

DJMC.AS Risk / Return Rank: 35
DJMC.AS Sharpe Ratio Rank: 34
DJMC.AS Sortino Ratio Rank: 32
DJMC.AS Omega Ratio Rank: 34
DJMC.AS Calmar Ratio Rank: 38
DJMC.AS Martin Ratio Rank: 38

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.

IESE.AS vs. DJMC.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) and iShares EURO STOXX Mid UCITS ETF (DJMC.AS). 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.

	IESE.AS	DJMC.AS	Difference
Sharpe ratio: Return per unit of total volatility	0.40	1.22	-0.82
Sortino ratio: Return per unit of downside risk	0.67	1.71	-1.04
Omega ratio: Gain probability vs. loss probability	1.08	1.23	-0.15
Calmar ratio: Return relative to maximum drawdown	0.54	1.83	-1.29
Martin ratio: Return relative to average drawdown	1.41	6.01	-4.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IESE.AS vs. DJMC.AS - Sharpe Ratio Comparison

The current IESE.AS Sharpe Ratio is 0.40, which is lower than the DJMC.AS Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of IESE.AS and DJMC.AS, 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

	IESE.AS	DJMC.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.40	1.22	-0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.45	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.53	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.39	+0.11

Drawdowns

IESE.AS vs. DJMC.AS - Drawdown Comparison

The maximum IESE.AS drawdown since its inception was -33.34%, smaller than the maximum DJMC.AS drawdown of -59.52%. Use the drawdown chart below to compare losses from any high point for IESE.AS and DJMC.AS.

Drawdown Indicators

	IESE.AS	DJMC.AS	Difference
Max Drawdown Largest peak-to-trough decline	-33.34%	-59.52%	+26.18%
Max Drawdown (1Y) Largest decline over 1 year	-10.05%	-8.07%	-1.98%
Max Drawdown (3Y) Largest decline over 3 years	-15.79%	-14.36%	-1.43%
Max Drawdown (5Y) Largest decline over 5 years	-23.66%	-27.41%	+3.75%
Max Drawdown (10Y) Largest decline over 10 years	-33.34%	-39.05%	+5.71%
Current Drawdown Current decline from peak	-1.88%	-1.85%	-0.03%
Average Drawdown Average peak-to-trough decline	-6.13%	-13.21%	+7.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	2.46%	+1.38%

Volatility

IESE.AS vs. DJMC.AS - Volatility Comparison

iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) has a higher volatility of 4.74% compared to iShares EURO STOXX Mid UCITS ETF (DJMC.AS) at 3.60%. This indicates that IESE.AS's price experiences larger fluctuations and is considered to be riskier than DJMC.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IESE.AS	DJMC.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	3.60%	+1.14%
Volatility (6M) Calculated over the trailing 6-month period	10.86%	9.83%	+1.03%
Volatility (1Y) Calculated over the trailing 1-year period	13.40%	12.09%	+1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.49%	15.53%	-1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.29%	16.49%	-1.20%

IESE.AS vs. DJMC.AS - Expense Ratio Comparison

IESE.AS has a 0.20% expense ratio, which is lower than DJMC.AS's 0.40% expense ratio.

Dividends

IESE.AS vs. DJMC.AS - Dividend Comparison

IESE.AS has not paid dividends to shareholders, while DJMC.AS's dividend yield for the trailing twelve months is around 2.95%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DJMC.AS iShares EURO STOXX Mid UCITS ETF	2.95%	3.20%	3.37%	2.55%	2.40%	1.76%	1.45%	2.55%	2.97%	2.18%	2.22%	2.03%
IESE.AS iShares MSCI Europe SRI UCITS ETF EUR (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%

Frequently Asked Questions

Can I hold both IESE.AS and DJMC.AS in my portfolio?

IESE.AS and DJMC.AS have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IESE.AS or DJMC.AS?

On fees, IESE.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IESE.AS or DJMC.AS?

IESE.AS is cheaper with a 0.20% expense ratio, compared with 0.40% for DJMC.AS.

What is the main difference between IESE.AS and DJMC.AS?

IESE.AS tracks MSCI Europe NR EUR, while DJMC.AS tracks MSCI EMU SMID NR EUR. Their fees differ too: 0.20% for IESE.AS and 0.40% for DJMC.AS.