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IESE.AS vs. VEUR.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IESE.AS vs. VEUR.AS

Last updated Jun 4, 2026

IESE.AS (iShares MSCI Europe SRI UCITS ETF EUR (Acc)) and VEUR.AS (Vanguard FTSE Developed Europe UCITS ETF) are both Europe Equities funds tracking the MSCI Europe NR EUR, from iShares and Vanguard respectively. Both are passively managed. Over the past 10 years, IESE.AS returned 7.82%/yr vs 9.20%/yr for VEUR.AS. Their correlation of 0.92 suggests significant overlap in exposure. IESE.AS charges 0.20%/yr vs 0.10%/yr for VEUR.AS.

Performance

IESE.AS vs. VEUR.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 Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with IESE.AS having a 6.26% return and VEUR.AS slightly higher at 6.55%. Over the past 10 years, IESE.AS has underperformed VEUR.AS with an annualized return of 7.82%, while VEUR.AS has yielded a comparatively higher 9.20% 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%

VEUR.AS

1D
-0.71%
1M
3.66%
YTD
6.55%
6M
9.83%
1Y
16.22%
3Y*
13.65%
5Y*
9.80%
10Y*
9.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%
VEUR.AS
Vanguard FTSE Developed Europe UCITS ETF		6.55%19.69%10.27%16.15%-10.11%25.55%-2.72%25.95%-10.04%10.80%

Correlation

The correlation between IESE.AS and VEUR.AS is 0.93, 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

0.93

Correlation (3Y)
Calculated over the trailing 3-year period

0.93

Correlation (5Y)
Calculated over the trailing 5-year period

0.94

Correlation (10Y)
Calculated over the trailing 10-year period

0.95

Correlation (All Time)
Calculated using the full available price history since May 22, 2013

0.92

The correlation between IESE.AS and VEUR.AS has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

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iShares MSCI Europe SRI UCITS ETF EUR (Acc)

Vanguard FTSE Developed Europe UCITS ETF

Often compared with IESE.AS:
IESE.AS vs. EUEA.ASIESE.AS vs. VWCE.DEIESE.AS vs. 2B7K.DEIESE.AS vs. EUMD.LIESE.AS vs. VTIESE.AS vs. IWDA.ASIESE.AS vs. VGEU.DE
Often compared with VEUR.AS:
VEUR.AS vs. IMAE.ASVEUR.AS vs. VOOVEUR.AS vs. IMEU.LVEUR.AS vs. VERG.LVEUR.AS vs. VHYL.ASVEUR.AS vs. vwrl.ASVEUR.AS vs. VUAA.L

Return for Risk

IESE.AS vs. VEUR.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: 1515
Overall Rank
IESE.AS Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
IESE.AS Sortino Ratio Rank: 1414
Sortino Ratio Rank
IESE.AS Omega Ratio Rank: 1414
Omega Ratio Rank
IESE.AS Calmar Ratio Rank: 1515
Calmar Ratio Rank
IESE.AS Martin Ratio Rank: 1616
Martin Ratio Rank
VEUR.AS
VEUR.AS Risk / Return Rank: 3535
Overall Rank
VEUR.AS Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
VEUR.AS Sortino Ratio Rank: 3434
Sortino Ratio Rank
VEUR.AS Omega Ratio Rank: 3535
Omega Ratio Rank
VEUR.AS Calmar Ratio Rank: 3333
Calmar Ratio Rank
VEUR.AS Martin Ratio Rank: 3939
Martin Ratio Rank
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. VEUR.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 Vanguard FTSE Developed Europe UCITS ETF (VEUR.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.ASVEUR.ASDifference
Sharpe ratioReturn per unit of total volatility
0.40
1.25

-0.85

Sortino ratioReturn per unit of downside risk
0.67
1.84

-1.17

Omega ratioGain probability vs. loss probability

1.08

1.24

-0.16

Calmar ratioReturn relative to maximum drawdown

0.54

1.67

-1.13

Martin ratioReturn relative to average drawdown

1.41

6.30

-4.89

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. VEUR.AS - Sharpe Ratio Comparison

The current IESE.AS Sharpe Ratio is 0.40, which is lower than the VEUR.AS Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of IESE.AS and VEUR.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.

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Sharpe Ratios by Period

IESE.ASVEUR.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.40

1.25

-0.85

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.35

0.68

-0.32

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.50

0.58

-0.08

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.52

-0.02

Drawdowns

IESE.AS vs. VEUR.AS - Drawdown Comparison

The maximum IESE.AS drawdown since its inception was -33.34%, smaller than the maximum VEUR.AS drawdown of -35.63%. Use the drawdown chart below to compare losses from any high point for IESE.AS and VEUR.AS.

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Drawdown Indicators

IESE.ASVEUR.ASDifference

Max Drawdown

Largest peak-to-trough decline

-33.34%

-35.63%

+2.29%

Max Drawdown (1Y)

Largest decline over 1 year

-10.05%

-9.59%

-0.46%

Max Drawdown (3Y)

Largest decline over 3 years

-15.79%

-16.41%

+0.62%

Max Drawdown (5Y)

Largest decline over 5 years

-23.66%

-20.19%

-3.47%

Max Drawdown (10Y)

Largest decline over 10 years

-33.34%

-35.63%

+2.29%

Current Drawdown

Current decline from peak

-1.88%

-2.18%

+0.30%

Average Drawdown

Average peak-to-trough decline

-6.13%

-5.29%

-0.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.84%

2.55%

+1.29%

Volatility

IESE.AS vs. VEUR.AS - Volatility Comparison

iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) and Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS) have volatilities of 4.74% and 4.91%, 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.

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Volatility by Period

IESE.ASVEUR.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.74%

4.91%

-0.17%

Volatility (6M)

Calculated over the trailing 6-month period

10.86%

10.61%

+0.25%

Volatility (1Y)

Calculated over the trailing 1-year period

13.40%

12.80%

+0.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.49%

14.22%

+0.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.29%

15.51%

-0.22%

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

IESE.AS has a 0.20% expense ratio, which is higher than VEUR.AS's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IESE.AS vs. VEUR.AS - Dividend Comparison

IESE.AS has not paid dividends to shareholders, while VEUR.AS's dividend yield for the trailing twelve months is around 2.62%.

PositionTTM20252024202320222021202020192018201720162015
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%
VEUR.AS
Vanguard FTSE Developed Europe UCITS ETF		2.62%2.79%3.04%3.00%3.32%2.66%2.24%3.24%3.62%3.05%3.19%3.10%

Frequently Asked Questions

With a correlation of 0.93, IESE.AS and VEUR.AS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, VEUR.AS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VEUR.AS is cheaper with a 0.10% expense ratio, compared with 0.20% for IESE.AS.

Both ETFs track MSCI Europe NR EUR. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for IESE.AS and 0.10% for VEUR.AS.

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