IEUR vs. 8PSE.DE
IEUR (iShares Core MSCI Europe ETF) and 8PSE.DE (Invesco Physical Gold (EUR Hedged) ETC) are both exchange-traded funds - IEUR is a Europe Equities fund tracking the MSCI Europe Investable Market Index, while 8PSE.DE is a Gold fund tracking the LBMA Gold Price PM (EUR Hedged). Both are passively managed. Over the past 5 years, IEUR returned 8.26%/yr vs 14.39%/yr for 8PSE.DE. At a 0.37 correlation, their price movements are largely independent. IEUR charges 0.09%/yr vs 0.34%/yr for 8PSE.DE.
Performance
IEUR vs. 8PSE.DE - Performance Comparison
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Different Trading Currencies
IEUR is traded in USD, while 8PSE.DE is traded in EUR. To make them comparable, the 8PSE.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEUR achieves a 7.65% return, which is significantly higher than 8PSE.DE's -1.02% return.
IEUR
- 1D
- 0.14%
- 1M
- 2.40%
- YTD
- 7.65%
- 6M
- 9.78%
- 1Y
- 19.09%
- 3Y*
- 16.42%
- 5Y*
- 8.26%
- 10Y*
- 10.11%
8PSE.DE
- 1D
- 0.83%
- 1M
- -5.21%
- YTD
- -1.02%
- 6M
- 1.82%
- 1Y
- 27.37%
- 3Y*
- 31.57%
- 5Y*
- 14.39%
- 10Y*
- —
IEUR vs. 8PSE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IEUR iShares Core MSCI Europe ETF | 7.65% | 35.67% | 1.40% | 19.71% | -15.90% | 16.71% | 17.01% |
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC | -1.02% | 83.76% | 17.01% | 13.47% | -7.57% | -13.24% | 10.03% |
Correlation
The correlation between IEUR and 8PSE.DE is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2020 | 0.37 |
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Return for Risk
IEUR vs. 8PSE.DE — Risk / Return Rank
IEUR
8PSE.DE
IEUR vs. 8PSE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe ETF (IEUR) and Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE). 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.
| IEUR | 8PSE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.57 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 0.59 | +0.85 |
| Martin ratioReturn relative to average drawdown | 5.40 | 2.35 | +3.05 |
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Drawdowns
IEUR vs. 8PSE.DE - Drawdown Comparison
The maximum IEUR drawdown since its inception was -36.96%, smaller than the maximum 8PSE.DE drawdown of -51.35%. Use the drawdown chart below to compare losses from any high point for IEUR and 8PSE.DE.
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Drawdown Indicators
| IEUR | 8PSE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.96% | -51.35% | +14.39% |
Max Drawdown (1Y)Largest decline over 1 year | -12.04% | -51.35% | +39.31% |
Max Drawdown (3Y)Largest decline over 3 years | -14.25% | -51.35% | +37.10% |
Max Drawdown (5Y)Largest decline over 5 years | -32.75% | -51.35% | +18.60% |
Max Drawdown (10Y)Largest decline over 10 years | -36.96% | — | — |
Current DrawdownCurrent decline from peak | -0.44% | -18.71% | +18.27% |
Average DrawdownAverage peak-to-trough decline | -8.21% | -13.96% | +5.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 12.99% | -9.77% |
Volatility
IEUR vs. 8PSE.DE - Volatility Comparison
The current volatility for iShares Core MSCI Europe ETF (IEUR) is 5.70%, while Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) has a volatility of 6.62%. This indicates that IEUR experiences smaller price fluctuations and is considered to be less risky than 8PSE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEUR | 8PSE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.70% | 6.62% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 13.31% | 71.84% | -58.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.83% | 182.13% | -166.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.81% | 88.55% | -70.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.68% | 81.99% | -63.31% |
IEUR vs. 8PSE.DE - Expense Ratio Comparison
IEUR has a 0.09% expense ratio, which is lower than 8PSE.DE's 0.34% expense ratio.
Dividends
IEUR vs. 8PSE.DE - Dividend Comparison
IEUR's dividend yield for the trailing twelve months is around 2.76%, while 8PSE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEUR iShares Core MSCI Europe ETF | 2.76% | 2.97% | 3.54% | 3.17% | 3.05% | 2.88% | 2.13% | 3.26% | 3.76% | 2.64% | 3.19% | 2.79% |
Frequently Asked Questions
IEUR and 8PSE.DE have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEUR is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEUR is cheaper with a 0.09% expense ratio, compared with 0.34% for 8PSE.DE.
IEUR is categorized as Europe Equities, while 8PSE.DE is Gold. IEUR tracks MSCI Europe Investable Market Index, while 8PSE.DE tracks LBMA Gold Price PM (EUR Hedged). They also come from different issuers: iShares and Invesco. Their fees differ too: 0.09% for IEUR and 0.34% for 8PSE.DE.
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