IEUS vs. SOXX

Last updated Jun 5, 2026

IEUS (iShares MSCI Europe Small-Cap ETF) and SOXX (iShares Semiconductor ETF) are both exchange-traded funds - IEUS is a Europe Equities fund tracking the MSCI Europe Small Cap Index, while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. Both are passively managed. Over the past 10 years, IEUS returned 7.63%/yr vs 35.54%/yr for SOXX. A 0.55 correlation means they provide meaningful diversification when combined. IEUS charges 0.40%/yr vs 0.34%/yr for SOXX.

Performance

IEUS vs. SOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Europe Small-Cap ETF (IEUS) and iShares Semiconductor ETF (SOXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IEUS achieves a 6.98% return, which is significantly lower than SOXX's 100.26% return. Over the past 10 years, IEUS has underperformed SOXX with an annualized return of 7.63%, while SOXX has yielded a comparatively higher 35.54% annualized return.

IEUS

• 1D: 1.22%
• 1M: 1.57%
• YTD: 6.98%
• 6M: 10.13%
• 1Y: 14.47%
• 3Y*: 14.79%
• 5Y*: 3.01%
• 10Y*: 7.63%

SOXX

• 1D: -2.10%
• 1M: 24.86%
• YTD: 100.26%
• 6M: 97.20%
• 1Y: 179.78%
• 3Y*: 57.09%
• 5Y*: 33.93%
• 10Y*: 35.54%

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

IEUS vs. SOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEUS iShares MSCI Europe Small-Cap ETF	6.98%	32.06%	-1.59%	17.34%	-27.07%	15.06%	12.99%	29.72%	-20.17%	35.04%
SOXX iShares Semiconductor ETF	100.26%	40.74%	12.92%	67.12%	-35.09%	44.09%	52.72%	62.42%	-6.49%	39.79%

Correlation

The correlation between IEUS and SOXX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Nov 20, 2007	0.55

The correlation between IEUS and SOXX has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.

IEUS vs. SOXX - Sectors Allocation Comparison

Sectors	IEUS	SOXX
Industrials	26.7%	-
Financial Services	15.2%	-
Consumer Cyclical	11.4%	-
Real Estate	8.4%	-
Basic Materials	7.5%	-
Technology	7.4%	100.0%
Healthcare	7.3%	-
Energy	5.1%	-
Communication Services	5.0%	-
Consumer Defensive	3.7%	-
Utilities	2.4%	-

Return for Risk

IEUS vs. SOXX — Risk / Return Rank

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

IEUS

IEUS Risk / Return Rank: 26
IEUS Sharpe Ratio Rank: 26
IEUS Sortino Ratio Rank: 26
IEUS Omega Ratio Rank: 26
IEUS Calmar Ratio Rank: 25
IEUS Martin Ratio Rank: 28

SOXX

SOXX Risk / Return Rank: 96
SOXX Sharpe Ratio Rank: 98
SOXX Sortino Ratio Rank: 95
SOXX Omega Ratio Rank: 95
SOXX Calmar Ratio Rank: 97
SOXX Martin Ratio Rank: 97

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.

IEUS vs. SOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Small-Cap ETF (IEUS) and iShares Semiconductor ETF (SOXX). 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.

	IEUS	SOXX	Difference
Sharpe ratio: Return per unit of total volatility	0.91	5.29	-4.38
Sortino ratio: Return per unit of downside risk	1.37	5.16	-3.79
Omega ratio: Gain probability vs. loss probability	1.17	1.71	-0.54
Calmar ratio: Return relative to maximum drawdown	1.13	11.48	-10.34
Martin ratio: Return relative to average drawdown	3.87	43.90	-40.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEUS vs. SOXX - Sharpe Ratio Comparison

The current IEUS Sharpe Ratio is 0.91, which is lower than the SOXX Sharpe Ratio of 5.29. The chart below compares the historical Sharpe Ratios of IEUS and SOXX, 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

	IEUS	SOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	5.29	-4.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.94	-0.80
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	1.07	-0.69
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.44	-0.21

Drawdowns

IEUS vs. SOXX - Drawdown Comparison

The maximum IEUS drawdown since its inception was -62.12%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for IEUS and SOXX.

Drawdown Indicators

	IEUS	SOXX	Difference
Max Drawdown Largest peak-to-trough decline	-62.12%	-70.21%	+8.09%
Max Drawdown (1Y) Largest decline over 1 year	-12.81%	-15.77%	+2.96%
Max Drawdown (3Y) Largest decline over 3 years	-18.05%	-41.36%	+23.31%
Max Drawdown (5Y) Largest decline over 5 years	-44.86%	-45.75%	+0.89%
Max Drawdown (10Y) Largest decline over 10 years	-44.86%	-45.75%	+0.89%
Current Drawdown Current decline from peak	-0.76%	-2.10%	+1.34%
Average Drawdown Average peak-to-trough decline	-14.91%	-19.97%	+5.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	4.11%	-0.36%

Volatility

IEUS vs. SOXX - Volatility Comparison

The current volatility for iShares MSCI Europe Small-Cap ETF (IEUS) is 5.31%, while iShares Semiconductor ETF (SOXX) has a volatility of 14.08%. This indicates that IEUS experiences smaller price fluctuations and is considered to be less risky than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEUS	SOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	14.08%	-8.77%
Volatility (6M) Calculated over the trailing 6-month period	13.11%	27.45%	-14.34%
Volatility (1Y) Calculated over the trailing 1-year period	15.93%	34.20%	-18.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.78%	36.11%	-15.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.51%	33.43%	-12.92%

IEUS vs. SOXX - Expense Ratio Comparison

IEUS has a 0.40% expense ratio, which is higher than SOXX's 0.34% expense ratio.

Dividends

IEUS vs. SOXX - Dividend Comparison

IEUS's dividend yield for the trailing twelve months is around 2.99%, more than SOXX's 0.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEUS iShares MSCI Europe Small-Cap ETF	2.99%	3.19%	3.25%	2.97%	3.00%	2.63%	1.21%	4.03%	3.21%	2.13%	2.48%	2.06%
SOXX iShares Semiconductor ETF	0.28%	0.57%	0.67%	0.78%	1.26%	0.64%	0.81%	1.23%	1.37%	0.90%	1.08%	1.29%

Frequently Asked Questions

Can I hold both IEUS and SOXX in my portfolio?

IEUS and SOXX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IEUS or SOXX?

SOXX has higher volatility (14.08%) compared to IEUS (5.31%). In terms of maximum drawdown, IEUS dropped -62.12% vs SOXX's -70.21%.

Which ETF is better, IEUS or SOXX?

On 10-year performance, SOXX leads with 35.54% vs 7.63% for IEUS. On fees, SOXX is cheaper at 0.34% per year. On volatility, IEUS has been the lower-risk option at 5.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IEUS or SOXX?

Over the 10-year period, SOXX has performed better with a 35.54% return vs 7.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IEUS or SOXX?

SOXX is cheaper with a 0.34% expense ratio, compared with 0.40% for IEUS.

Which ETF pays a higher dividend yield, IEUS or SOXX?

IEUS has the higher dividend yield at 2.99%, compared with 0.28% for SOXX.

What is the main difference between IEUS and SOXX?

IEUS is categorized as Europe Equities, while SOXX is Semiconductors. IEUS tracks MSCI Europe Small Cap Index, while SOXX tracks NYSE Semiconductor Index. Their fees differ too: 0.40% for IEUS and 0.34% for SOXX.

Which has better risk-adjusted returns?

SOXX currently has the higher Sharpe Ratio (5.29 vs 0.91), 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.