IEUX.AS vs. VEUR.AS
IEUX.AS (iShares MSCI Europe ex-UK UCITS ETF) and VEUR.AS (Vanguard FTSE Developed Europe UCITS ETF) are both Europe Equities funds - IEUX.AS tracks the MSCI Europe Ex UK NR EUR while VEUR.AS tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, IEUX.AS returned 9.33%/yr vs 9.20%/yr for VEUR.AS. With a 0.97 correlation, they move nearly in lockstep. IEUX.AS charges 0.40%/yr vs 0.10%/yr for VEUR.AS.
Performance
IEUX.AS vs. VEUR.AS - Performance Comparison
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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 VEUR.AS slightly higher at 6.55%. Both investments have delivered pretty close results over the past 10 years, with IEUX.AS having a 9.33% annualized return and VEUR.AS not far behind at 9.20%.
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%
VEUR.AS
- 1D
- -0.71%
- 1M
- 3.66%
- YTD
- 6.55%
- 6M
- 9.83%
- 1Y
- 16.22%
- 3Y*
- 13.65%
- 5Y*
- 9.80%
- 10Y*
- 9.20%
IEUX.AS vs. VEUR.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF | 6.55% | 19.69% | 10.27% | 16.15% | -10.11% | 25.55% | -2.72% | 25.95% | -10.04% | 10.80% |
Correlation
The correlation between IEUX.AS and VEUR.AS is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since May 22, 2013 | 0.97 |
The correlation between IEUX.AS and VEUR.AS has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.
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Return for Risk
IEUX.AS vs. VEUR.AS — Risk / Return Rank
IEUX.AS
VEUR.AS
IEUX.AS vs. VEUR.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 Vanguard FTSE Developed Europe UCITS ETF (VEUR.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.AS | VEUR.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.24 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 1.67 | -0.21 |
| Martin ratioReturn relative to average drawdown | 5.39 | 6.30 | -0.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEUX.AS | VEUR.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 1.25 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.68 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.58 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.52 | -0.23 |
Drawdowns
IEUX.AS vs. VEUR.AS - Drawdown Comparison
The maximum IEUX.AS drawdown since its inception was -60.28%, which is greater than VEUR.AS's maximum drawdown of -35.63%. Use the drawdown chart below to compare losses from any high point for IEUX.AS and VEUR.AS.
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Drawdown Indicators
| IEUX.AS | VEUR.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.28% | -35.63% | -24.65% |
Max Drawdown (1Y)Largest decline over 1 year | -9.94% | -9.59% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -16.22% | -16.41% | +0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -22.47% | -20.19% | -2.28% |
Max Drawdown (10Y)Largest decline over 10 years | -34.79% | -35.63% | +0.84% |
Current DrawdownCurrent decline from peak | -2.02% | -2.18% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -14.68% | -5.29% | -9.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 2.55% | +0.15% |
Volatility
IEUX.AS vs. VEUR.AS - Volatility Comparison
iShares MSCI Europe ex-UK UCITS ETF (IEUX.AS) and Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS) have volatilities of 4.86% and 4.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEUX.AS | VEUR.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.86% | 4.91% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 11.18% | 10.61% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.58% | 12.80% | +0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.96% | 14.22% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.72% | 15.51% | +0.21% |
IEUX.AS vs. VEUR.AS - Expense Ratio Comparison
IEUX.AS has a 0.40% expense ratio, which is higher than VEUR.AS's 0.10% expense ratio.
Dividends
IEUX.AS vs. VEUR.AS - Dividend Comparison
IEUX.AS's dividend yield for the trailing twelve months is around 2.00%, less than VEUR.AS's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF | 2.62% | 2.79% | 3.04% | 3.00% | 3.32% | 2.66% | 2.24% | 3.24% | 3.62% | 3.05% | 3.19% | 3.10% |
Frequently Asked Questions
With a correlation of 0.97, IEUX.AS and VEUR.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, VEUR.AS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEUR.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 VEUR.AS tracks MSCI Europe NR EUR. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.40% for IEUX.AS and 0.10% for VEUR.AS.
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