IEUR vs. ERO

Last updated Jun 3, 2026

IEUR (iShares Core MSCI Europe ETF) is Europe Equities fund tracking the MSCI Europe Investable Market Index, while ERO (Ero Copper Corp) is a stock. Over the past 5 years, IEUR returned 8.45%/yr vs 7.93%/yr for ERO. At a 0.41 correlation, their price movements are largely independent.

Performance

IEUR vs. ERO - Performance Comparison

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

Returns By Period

In the year-to-date period, IEUR achieves a 6.92% return, which is significantly lower than ERO's 13.82% return.

IEUR

• 1D: 0.45%
• 1M: 2.10%
• YTD: 6.92%
• 6M: 10.57%
• 1Y: 17.89%
• 3Y*: 16.56%
• 5Y*: 8.45%
• 10Y*: 9.28%

ERO

• 1D: 2.48%
• 1M: 27.73%
• YTD: 13.82%
• 6M: 28.75%
• 1Y: 121.76%
• 3Y*: 21.98%
• 5Y*: 7.93%
• 10Y*: —

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

IEUR vs. ERO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEUR iShares Core MSCI Europe ETF	6.92%	35.67%	1.40%	19.71%	-15.90%	16.71%	5.31%	24.95%	-14.86%	2.15%
ERO Ero Copper Corp	13.82%	109.87%	-14.63%	14.84%	-10.07%	-5.73%	-10.97%	151.68%	21.41%	52.24%

Correlation

The correlation between IEUR and ERO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Oct 24, 2017	0.41

The correlation between IEUR and ERO has been stable across timeframes, ranging from 0.41 to 0.50 - a consistent structural relationship.

Return for Risk

IEUR vs. ERO — Risk / Return Rank

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

IEUR

IEUR Risk / Return Rank: 33
IEUR Sharpe Ratio Rank: 32
IEUR Sortino Ratio Rank: 32
IEUR Omega Ratio Rank: 31
IEUR Calmar Ratio Rank: 32
IEUR Martin Ratio Rank: 38

ERO

ERO Risk / Return Rank: 84
ERO Sharpe Ratio Rank: 89
ERO Sortino Ratio Rank: 83
ERO Omega Ratio Rank: 82
ERO Calmar Ratio Rank: 84
ERO Martin Ratio Rank: 82

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. ERO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe ETF (IEUR) and Ero Copper Corp (ERO). 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.

	IEUR	ERO	Difference
Sharpe ratio Return per unit of total volatility	1.18	2.22	-1.05
Sortino ratio Return per unit of downside risk	1.73	2.57	-0.85
Omega ratio Gain probability vs. loss probability	1.21	1.33	-0.12
Calmar ratio Return relative to maximum drawdown	1.59	3.38	-1.78
Martin ratio Return relative to average drawdown	6.00	7.50	-1.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEUR vs. ERO - Sharpe Ratio Comparison

The current IEUR Sharpe Ratio is 1.18, which is lower than the ERO Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of IEUR and ERO, 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

	IEUR	ERO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	2.22	-1.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.15	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.55	-0.19

Drawdowns

IEUR vs. ERO - Drawdown Comparison

The maximum IEUR drawdown since its inception was -36.96%, smaller than the maximum ERO drawdown of -67.17%. Use the drawdown chart below to compare losses from any high point for IEUR and ERO.

Drawdown Indicators

	IEUR	ERO	Difference
Max Drawdown Largest peak-to-trough decline	-36.96%	-67.17%	+30.21%
Max Drawdown (1Y) Largest decline over 1 year	-12.04%	-37.97%	+25.93%
Max Drawdown (3Y) Largest decline over 3 years	-14.25%	-59.84%	+45.59%
Max Drawdown (5Y) Largest decline over 5 years	-32.75%	-64.56%	+31.81%
Max Drawdown (10Y) Largest decline over 10 years	-36.96%	—	—
Current Drawdown Current decline from peak	-1.12%	-15.33%	+14.21%
Average Drawdown Average peak-to-trough decline	-8.23%	-27.06%	+18.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	17.09%	-13.89%

Volatility

IEUR vs. ERO - Volatility Comparison

The current volatility for iShares Core MSCI Europe ETF (IEUR) is 5.80%, while Ero Copper Corp (ERO) has a volatility of 19.86%. This indicates that IEUR experiences smaller price fluctuations and is considered to be less risky than ERO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEUR	ERO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.80%	19.86%	-14.06%
Volatility (6M) Calculated over the trailing 6-month period	12.69%	42.66%	-29.97%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	55.17%	-39.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.72%	54.41%	-36.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	59.08%	-40.40%

Dividends

IEUR vs. ERO - Dividend Comparison

IEUR's dividend yield for the trailing twelve months is around 2.78%, while ERO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERO Ero Copper Corp	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	2.78%	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 ERO in my portfolio?

IEUR and ERO have a correlation of 0.46, 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 ERO?

ERO has higher volatility (19.86%) compared to IEUR (5.80%). In terms of maximum drawdown, IEUR dropped -36.96% vs ERO's -67.17%.

Which has better risk-adjusted returns?

ERO currently has the higher Sharpe Ratio (2.22 vs 1.18), 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.