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IEUX.AS vs. EUEA.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEUX.AS vs. EUEA.AS

Last updated Jun 4, 2026

IEUX.AS (iShares MSCI Europe ex-UK UCITS ETF) and EUEA.AS (iShares EURO STOXX 50 UCITS ETF) are both Europe Equities funds from iShares - IEUX.AS tracks the MSCI Europe Ex UK NR EUR while EUEA.AS tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, IEUX.AS returned 9.33%/yr vs 10.47%/yr for EUEA.AS. Their correlation of 0.89 suggests significant overlap in exposure. IEUX.AS charges 0.40%/yr vs 0.10%/yr for EUEA.AS.

Performance

IEUX.AS vs. EUEA.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI Europe ex-UK UCITS ETF (IEUX.AS) and iShares EURO STOXX 50 UCITS ETF (EUEA.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 IEUX.AS having a 6.39% return and EUEA.AS slightly higher at 6.57%. Over the past 10 years, IEUX.AS has underperformed EUEA.AS with an annualized return of 9.33%, while EUEA.AS has yielded a comparatively higher 10.47% annualized return.

IEUX.AS

1D
-0.82%
1M
4.66%
YTD
6.39%
6M
9.74%
1Y
14.70%
3Y*
12.75%
5Y*
8.88%
10Y*
9.33%

EUEA.AS

1D
-0.88%
1M
5.91%
YTD
6.57%
6M
8.17%
1Y
15.52%
3Y*
14.97%
5Y*
11.33%
10Y*
10.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEUX.AS vs. EUEA.AS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEUX.AS
iShares MSCI Europe ex-UK UCITS ETF		6.39%19.55%7.52%17.22%-12.30%25.00%1.67%26.50%-10.21%11.50%
EUEA.AS
iShares EURO STOXX 50 UCITS ETF		6.57%21.70%11.49%23.09%-9.29%24.04%-2.55%27.75%-11.10%9.82%

Correlation

The correlation between IEUX.AS and EUEA.AS is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.95

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

0.95

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

0.95

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

0.96

Correlation (All Time)
Calculated using the full available price history since Aug 2, 2006

0.89

The correlation between IEUX.AS and EUEA.AS has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Europe ex-UK UCITS ETF

iShares EURO STOXX 50 UCITS ETF

Often compared with IEUX.AS:
IEUX.AS vs. VGKIEUX.AS vs. VUSA.ASIEUX.AS vs. GLDIEUX.AS vs. XGEN.DEIEUX.AS vs. DJSC.ASIEUX.AS vs. SPYIEUX.AS vs. IMEU.AS
Often compared with EUEA.AS:
EUEA.AS vs. IMAE.ASEUEA.AS vs. IESE.ASEUEA.AS vs. RWREUEA.AS vs. EGRW.LEUEA.AS vs. IDJG.ASEUEA.AS vs. FTAL.LEUEA.AS vs. EUNA.AS

Return for Risk

IEUX.AS vs. EUEA.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEUX.AS
IEUX.AS Risk / Return Rank: 3131
Overall Rank
IEUX.AS Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
IEUX.AS Sortino Ratio Rank: 3030
Sortino Ratio Rank
IEUX.AS Omega Ratio Rank: 3030
Omega Ratio Rank
IEUX.AS Calmar Ratio Rank: 3030
Calmar Ratio Rank
IEUX.AS Martin Ratio Rank: 3636
Martin Ratio Rank
EUEA.AS
EUEA.AS Risk / Return Rank: 2828
Overall Rank
EUEA.AS Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
EUEA.AS Sortino Ratio Rank: 2828
Sortino Ratio Rank
EUEA.AS Omega Ratio Rank: 2626
Omega Ratio Rank
EUEA.AS Calmar Ratio Rank: 2828
Calmar Ratio Rank
EUEA.AS Martin Ratio Rank: 3232
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.

IEUX.AS vs. EUEA.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe ex-UK UCITS ETF (IEUX.AS) and iShares EURO STOXX 50 UCITS ETF (EUEA.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.

IEUX.ASEUEA.ASDifference
Sharpe ratioReturn per unit of total volatility
1.07
0.97

+0.10

Sortino ratioReturn per unit of downside risk
1.63
1.52

+0.10

Omega ratioGain probability vs. loss probability

1.20

1.18

+0.02

Calmar ratioReturn relative to maximum drawdown

1.46

1.41

+0.05

Martin ratioReturn relative to average drawdown

5.39

4.77

+0.61

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEUX.AS vs. EUEA.AS - Sharpe Ratio Comparison

The current IEUX.AS Sharpe Ratio is 1.07, which is comparable to the EUEA.AS Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of IEUX.AS and EUEA.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

IEUX.ASEUEA.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.07

0.97

+0.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.59

0.64

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

0.57

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.12

+0.18

Drawdowns

IEUX.AS vs. EUEA.AS - Drawdown Comparison

The maximum IEUX.AS drawdown since its inception was -60.28%, roughly equal to the maximum EUEA.AS drawdown of -62.53%. Use the drawdown chart below to compare losses from any high point for IEUX.AS and EUEA.AS.

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Drawdown Indicators

IEUX.ASEUEA.ASDifference

Max Drawdown

Largest peak-to-trough decline

-60.28%

-62.53%

+2.25%

Max Drawdown (1Y)

Largest decline over 1 year

-9.94%

-10.91%

+0.97%

Max Drawdown (3Y)

Largest decline over 3 years

-16.22%

-16.32%

+0.10%

Max Drawdown (5Y)

Largest decline over 5 years

-22.47%

-23.35%

+0.88%

Max Drawdown (10Y)

Largest decline over 10 years

-34.79%

-38.22%

+3.43%

Current Drawdown

Current decline from peak

-2.02%

-1.30%

-0.72%

Average Drawdown

Average peak-to-trough decline

-14.68%

-24.30%

+9.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.70%

3.22%

-0.52%

Volatility

IEUX.AS vs. EUEA.AS - Volatility Comparison

The current volatility for iShares MSCI Europe ex-UK UCITS ETF (IEUX.AS) is 4.86%, while iShares EURO STOXX 50 UCITS ETF (EUEA.AS) has a volatility of 5.60%. This indicates that IEUX.AS experiences smaller price fluctuations and is considered to be less risky than EUEA.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEUX.ASEUEA.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.86%

5.60%

-0.74%

Volatility (6M)

Calculated over the trailing 6-month period

11.18%

12.90%

-1.72%

Volatility (1Y)

Calculated over the trailing 1-year period

13.58%

15.79%

-2.21%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.96%

17.36%

-2.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.72%

18.11%

-2.39%

IEUX.AS vs. EUEA.AS - Expense Ratio Comparison

IEUX.AS has a 0.40% expense ratio, which is higher than EUEA.AS's 0.10% expense ratio.

Dividends

IEUX.AS vs. EUEA.AS - Dividend Comparison

IEUX.AS's dividend yield for the trailing twelve months is around 2.00%, less than EUEA.AS's 2.57% yield.

PositionTTM20252024202320222021202020192018201720162015
EUEA.AS
iShares EURO STOXX 50 UCITS ETF		2.57%2.52%3.01%3.02%2.94%2.05%2.16%3.05%3.67%2.85%3.38%2.96%
IEUX.AS
iShares MSCI Europe ex-UK UCITS ETF		2.00%2.15%2.36%2.37%2.34%1.62%1.43%2.33%2.65%2.27%2.31%2.16%

Frequently Asked Questions

With a correlation of 0.95, IEUX.AS and EUEA.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, EUEA.AS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EUEA.AS is cheaper with a 0.10% expense ratio, compared with 0.40% for IEUX.AS.

IEUX.AS tracks MSCI Europe Ex UK NR EUR, while EUEA.AS tracks MSCI EMU NR EUR. Their fees differ too: 0.40% for IEUX.AS and 0.10% for EUEA.AS.

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