IEUR vs. EPOL

Last updated Jul 14, 2026

IEUR (iShares Core MSCI Europe ETF) and EPOL (iShares MSCI Poland ETF) are both Europe Equities funds from iShares - IEUR tracks the MSCI Europe Investable Market Index while EPOL tracks the MSCI Poland Investable Market Index. Both are passively managed. Over the past 10 years, IEUR returned 9.69%/yr vs 11.99%/yr for EPOL. A 0.68 correlation means they provide meaningful diversification when combined. IEUR charges 0.09%/yr vs 0.61%/yr for EPOL.

Performance

IEUR vs. EPOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Europe ETF (IEUR) and iShares MSCI Poland ETF (EPOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IEUR achieves a 7.18% return, which is significantly lower than EPOL's 14.97% return. Over the past 10 years, IEUR has underperformed EPOL with an annualized return of 9.69%, while EPOL has yielded a comparatively higher 11.99% annualized return.

IEUR

• 1D: -0.79%
• 1M: -0.44%
• 6M: 4.03%
• YTD: 7.18%
• 1Y: 16.12%
• 3Y*: 15.04%
• 5Y*: 8.63%
• 10Y*: 9.69%

EPOL

• 1D: -0.52%
• 1M: -1.20%
• 6M: 11.21%
• YTD: 14.97%
• 1Y: 30.89%
• 3Y*: 31.49%
• 5Y*: 17.18%
• 10Y*: 11.99%

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

IEUR vs. EPOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEUR iShares Core MSCI Europe ETF	7.18%	35.67%	1.40%	19.71%	-15.90%	16.71%	5.31%	24.95%	-14.86%	26.70%
EPOL iShares MSCI Poland ETF	14.97%	77.34%	-2.61%	50.70%	-24.62%	12.21%	-8.38%	-6.13%	-13.76%	52.43%

Correlation

The correlation between IEUR and EPOL is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014	0.68

The correlation between IEUR and EPOL has been stable across timeframes, ranging from 0.65 to 0.70 - a consistent structural relationship.

IEUR vs. EPOL - Sectors Allocation Comparison

Sectors	IEUR	EPOL
Financial Services	22.5%	44.6%
Industrials	20.3%	1.7%
Healthcare	12.5%	0.6%
Technology	9.4%	2.0%
Consumer Defensive	7.7%	5.8%
Consumer Cyclical	7.0%	13.1%
Basic Materials	5.8%	7.3%
Energy	4.9%	14.5%
Utilities	4.4%	4.8%
Communication Services	3.9%	5.7%
Real Estate	1.5%	-

Return for Risk

IEUR vs. EPOL — Risk / Return Rank

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

IEUR

IEUR Risk / Return Rank: 36
IEUR Sharpe Ratio Rank: 35
IEUR Sortino Ratio Rank: 36
IEUR Omega Ratio Rank: 33
IEUR Calmar Ratio Rank: 33
IEUR Martin Ratio Rank: 40

EPOL

EPOL Risk / Return Rank: 53
EPOL Sharpe Ratio Rank: 48
EPOL Sortino Ratio Rank: 49
EPOL Omega Ratio Rank: 43
EPOL Calmar Ratio Rank: 70
EPOL Martin Ratio Rank: 55

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.

IEUR vs. EPOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe ETF (IEUR) and iShares MSCI Poland ETF (EPOL). 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	EPOL	Difference
Sharpe ratio: Return per unit of total volatility	1.02	1.34	-0.31
Sortino ratio: Return per unit of downside risk	1.55	1.95	-0.40
Omega ratio: Gain probability vs. loss probability	1.18	1.23	-0.04
Calmar ratio: Return relative to maximum drawdown	1.34	2.81	-1.47
Martin ratio: Return relative to average drawdown	5.03	7.48	-2.45

IEUR vs. EPOL - Sharpe Ratio Comparison

The current IEUR Sharpe Ratio is 1.02, which is comparable to the EPOL Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of IEUR and EPOL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IEUR vs. EPOL - Drawdown Comparison

The maximum IEUR drawdown since its inception was -36.96%, smaller than the maximum EPOL drawdown of -63.72%. Use the drawdown chart below to compare losses from any high point for IEUR and EPOL.

Drawdown Indicators

	IEUR	EPOL	Difference
Max Drawdown Largest peak-to-trough decline	-36.96%	-63.72%	+26.76%
Max Drawdown (1Y) Largest decline over 1 year	-12.04%	-11.04%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-14.25%	-21.81%	+7.56%
Max Drawdown (5Y) Largest decline over 5 years	-32.75%	-54.21%	+21.46%
Max Drawdown (10Y) Largest decline over 10 years	-36.96%	-61.41%	+24.45%
Current Drawdown Current decline from peak	-2.40%	-1.30%	-1.10%
Average Drawdown Average peak-to-trough decline	-8.16%	-26.73%	+18.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	4.14%	-0.93%

Volatility

IEUR vs. EPOL - Volatility Comparison

The current volatility for iShares Core MSCI Europe ETF (IEUR) is 4.77%, while iShares MSCI Poland ETF (EPOL) has a volatility of 7.18%. This indicates that IEUR experiences smaller price fluctuations and is considered to be less risky than EPOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEUR	EPOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.77%	7.18%	-2.41%
Volatility (6M) Calculated over the trailing 6-month period	13.60%	18.40%	-4.80%
Volatility (1Y) Calculated over the trailing 1-year period	15.83%	23.27%	-7.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.81%	29.14%	-11.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	27.41%	-9.20%

IEUR vs. EPOL - Expense Ratio Comparison

IEUR has a 0.09% expense ratio, which is lower than EPOL's 0.61% expense ratio.

Dividends

IEUR vs. EPOL - Dividend Comparison

IEUR's dividend yield for the trailing twelve months is around 3.21%, less than EPOL's 3.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPOL iShares MSCI Poland ETF	3.66%	4.78%	6.04%	2.87%	2.65%	1.33%	1.44%	2.51%	1.44%	1.88%	2.14%	2.53%
IEUR iShares Core MSCI Europe ETF	3.21%	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

Can I hold both IEUR and EPOL in my portfolio?

IEUR and EPOL have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IEUR or EPOL?

EPOL has higher volatility (7.18%) compared to IEUR (4.77%). In terms of maximum drawdown, IEUR dropped -36.96% vs EPOL's -63.72%.

Which ETF is better, IEUR or EPOL?

On 10-year performance, EPOL leads with 11.99% vs 9.69% for IEUR. On fees, IEUR is cheaper at 0.09% per year. On volatility, IEUR has been the lower-risk option at 4.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IEUR or EPOL?

Over the 10-year period, EPOL has performed better with a 11.99% return vs 9.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IEUR or EPOL?

IEUR is cheaper with a 0.09% expense ratio, compared with 0.61% for EPOL.

Which ETF pays a higher dividend yield, IEUR or EPOL?

EPOL has the higher dividend yield at 3.66%, compared with 3.21% for IEUR.

What is the main difference between IEUR and EPOL?

IEUR tracks MSCI Europe Investable Market Index, while EPOL tracks MSCI Poland Investable Market Index. Their fees differ too: 0.09% for IEUR and 0.61% for EPOL.

Which has better risk-adjusted returns?

EPOL currently has the higher Sharpe Ratio (1.34 vs 1.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.