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

IEUX.AS vs. SPY

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI Europe ex-UK UCITS ETF (IEUX.AS) and State Street SPDR S&P 500 ETF (SPY).

IEUX.AS and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IEUX.AS is a passively managed fund by iShares that tracks the performance of the MSCI Europe Ex UK NR EUR. It was launched on Jun 2, 2006. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both IEUX.AS and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IEUX.AS vs. SPY - 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 State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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IEUX.AS vs. SPY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEUX.AS
iShares MSCI Europe ex-UK UCITS ETF		-0.16%19.55%7.52%17.22%-12.30%25.00%1.67%26.50%-10.21%11.50%
SPY
State Street SPDR S&P 500 ETF		-2.17%3.75%33.13%22.39%-13.10%38.36%8.58%34.19%-0.09%6.75%
Different Trading Currencies

IEUX.AS is traded in EUR, while SPY is traded in USD. To make them comparable, the SPY values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IEUX.AS achieves a -0.16% return, which is significantly higher than SPY's -2.85% return. Over the past 10 years, IEUX.AS has underperformed SPY with an annualized return of 9.07%, while SPY has yielded a comparatively higher 13.81% annualized return.

IEUX.AS

1D
2.64%
1M
-4.03%
YTD
-0.16%
6M
5.11%
1Y
11.63%
3Y*
11.08%
5Y*
8.71%
10Y*
9.07%

SPY

1D
0.00%
1M
-3.95%
YTD
-2.85%
6M
-0.72%
1Y
9.46%
3Y*
15.68%
5Y*
12.10%
10Y*
13.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

State Street SPDR S&P 500 ETF

Often compared with IEUX.AS:
IEUX.AS vs. VGKIEUX.AS vs. VUSA.ASIEUX.AS vs. GLDIEUX.AS vs. XGEN.DEIEUX.AS vs. ICHN.ASIEUX.AS vs. IAEX.ASIEUX.AS vs. IMEU.AS
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

IEUX.AS vs. SPY - Expense Ratio Comparison

IEUX.AS has a 0.40% expense ratio, which is higher than SPY's 0.09% expense ratio.

IEUX.AS
iShares MSCI Europe ex-UK UCITS ETF
SPY
State Street SPDR S&P 500 ETF

Return for Risk

IEUX.AS vs. SPY — 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: 5050
Overall Rank
IEUX.AS Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
IEUX.AS Sortino Ratio Rank: 3434
Sortino Ratio Rank
IEUX.AS Omega Ratio Rank: 3535
Omega Ratio Rank
IEUX.AS Calmar Ratio Rank: 7373
Calmar Ratio Rank
IEUX.AS Martin Ratio Rank: 7373
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 5959
Overall Rank
SPY Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 5656
Sortino Ratio Rank
SPY Omega Ratio Rank: 6060
Omega Ratio Rank
SPY Calmar Ratio Rank: 5858
Calmar Ratio Rank
SPY Martin Ratio Rank: 6969
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. SPY - 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 State Street SPDR S&P 500 ETF (SPY). 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.ASSPYDifference

Sharpe ratio

Return per unit of total volatility

0.74

0.44

+0.30

Sortino ratio

Return per unit of downside risk

1.05

0.76

+0.29

Omega ratio

Gain probability vs. loss probability

1.16

1.12

+0.03

Calmar ratio

Return relative to maximum drawdown

2.13

0.70

+1.43

Martin ratio

Return relative to average drawdown

8.44

2.95

+5.49

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. SPY - Sharpe Ratio Comparison

The current IEUX.AS Sharpe Ratio is 0.74, which is higher than the SPY Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of IEUX.AS and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

IEUX.ASSPYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.74

0.44

+0.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.59

0.72

-0.13

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

0.75

-0.18

Sharpe Ratio (All Time)

Calculated using the full available price history

0.28

0.55

-0.27

Correlation

The correlation between IEUX.AS and SPY is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IEUX.AS vs. SPY - Dividend Comparison

IEUX.AS's dividend yield for the trailing twelve months is around 2.13%, more than SPY's 1.13% yield.

TTM20252024202320222021202020192018201720162015
IEUX.AS
iShares MSCI Europe ex-UK UCITS ETF		2.13%2.15%2.36%2.37%2.34%1.62%1.43%2.33%2.65%2.27%2.31%2.16%
SPY
State Street SPDR S&P 500 ETF		1.13%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%

Drawdowns

IEUX.AS vs. SPY - Drawdown Comparison

The maximum IEUX.AS drawdown since its inception was -60.28%, which is greater than SPY's maximum drawdown of -51.02%. Use the drawdown chart below to compare losses from any high point for IEUX.AS and SPY.

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Drawdown Indicators

IEUX.ASSPYDifference

Max Drawdown

Largest peak-to-trough decline

-60.28%

-55.19%

-5.09%

Max Drawdown (1Y)

Largest decline over 1 year

-12.05%

-12.05%

0.00%

Max Drawdown (5Y)

Largest decline over 5 years

-22.47%

-24.50%

+2.03%

Max Drawdown (10Y)

Largest decline over 10 years

-34.79%

-33.72%

-1.07%

Current Drawdown

Current decline from peak

-5.85%

-5.53%

-0.32%

Average Drawdown

Average peak-to-trough decline

-14.79%

-9.09%

-5.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

2.54%

-0.03%

Volatility

IEUX.AS vs. SPY - Volatility Comparison

iShares MSCI Europe ex-UK UCITS ETF (IEUX.AS) has a higher volatility of 6.02% compared to State Street SPDR S&P 500 ETF (SPY) at 4.30%. This indicates that IEUX.AS's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEUX.ASSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.02%

4.30%

+1.72%

Volatility (6M)

Calculated over the trailing 6-month period

9.53%

9.86%

-0.33%

Volatility (1Y)

Calculated over the trailing 1-year period

15.58%

21.43%

-5.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.75%

16.97%

-2.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.65%

18.50%

-2.85%