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IEUX.L vs. ^NDX
Performance
Return for Risk
Drawdowns
Volatility

IEUX.L vs. ^NDX

Last updated Jun 5, 2026

IEUX.L (iShares MSCI Europe ex-UK UCITS) is Europe Equities fund tracking the MSCI Europe ex-UK NR EUR, while ^NDX (NASDAQ 100 Index) is an index. Over the past 10 years, IEUX.L returned 10.42%/yr vs 21.89%/yr for ^NDX. At a 0.43 correlation, their price movements are largely independent.

Performance

IEUX.L vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Europe ex-UK UCITS (IEUX.L) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IEUX.L is traded in GBp, while ^NDX is traded in USD. To make them comparable, the ^NDX values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IEUX.L achieves a 7.00% return, which is significantly lower than ^NDX's 20.92% return. Over the past 10 years, IEUX.L has underperformed ^NDX with an annualized return of 10.42%, while ^NDX has yielded a comparatively higher 21.89% annualized return.

IEUX.L

1D
0.97%
1M
4.29%
YTD
7.00%
6M
9.12%
1Y
18.55%
3Y*
13.29%
5Y*
9.21%
10Y*
10.42%

^NDX

1D
-0.53%
1M
9.54%
YTD
20.92%
6M
18.04%
1Y
41.34%
3Y*
24.62%
5Y*
18.43%
10Y*
21.89%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEUX.L vs. ^NDX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEUX.L
iShares MSCI Europe ex-UK UCITS		7.00%25.52%1.87%14.91%-6.98%16.31%7.53%20.67%-9.95%16.33%
^NDX
NASDAQ 100 Index		20.92%11.61%27.06%46.12%-25.00%27.83%43.25%32.72%4.83%20.14%

Correlation

The correlation between IEUX.L and ^NDX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.39

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

0.32

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

0.35

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

0.40

Correlation (All Time)
Calculated using the full available price history since Jul 3, 2007

0.43

The correlation between IEUX.L and ^NDX shifts across timeframes, from 0.32 (3 years) to 0.43 (all time), reflecting how their relationship changes across market environments.

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

NASDAQ 100 Index

Often compared with IEUX.L:
IEUX.L vs. VERX.ASIEUX.L vs. VERX.LIEUX.L vs. ^GSPCIEUX.L vs. VUKG.LIEUX.L vs. VUAG.LIEUX.L vs. VMIG.LIEUX.L vs. XDEM.L
Often compared with ^NDX:
^NDX vs. BRK-B^NDX vs. SPY^NDX vs. ARKK^NDX vs. ^IXIC^NDX vs. TSLA^NDX vs. VOO^NDX vs. NQ=F

Return for Risk

IEUX.L vs. ^NDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEUX.L
IEUX.L Risk / Return Rank: 4040
Overall Rank
IEUX.L Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
IEUX.L Sortino Ratio Rank: 4242
Sortino Ratio Rank
IEUX.L Omega Ratio Rank: 4343
Omega Ratio Rank
IEUX.L Calmar Ratio Rank: 3535
Calmar Ratio Rank
IEUX.L Martin Ratio Rank: 3939
Martin Ratio Rank
^NDX
^NDX Risk / Return Rank: 8383
Overall Rank
^NDX Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
^NDX Sortino Ratio Rank: 8484
Sortino Ratio Rank
^NDX Omega Ratio Rank: 8282
Omega Ratio Rank
^NDX Calmar Ratio Rank: 8383
Calmar Ratio Rank
^NDX Martin Ratio Rank: 8080
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.L vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe ex-UK UCITS (IEUX.L) and NASDAQ 100 Index (^NDX). 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.L^NDXDifference
Sharpe ratioReturn per unit of total volatility
1.43
2.69

-1.26

Sortino ratioReturn per unit of downside risk
2.08
3.45

-1.37

Omega ratioGain probability vs. loss probability

1.27

1.47

-0.20

Calmar ratioReturn relative to maximum drawdown

1.72

3.45

-1.73

Martin ratioReturn relative to average drawdown

6.10

10.41

-4.31

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.L vs. ^NDX - Sharpe Ratio Comparison

The current IEUX.L Sharpe Ratio is 1.43, which is lower than the ^NDX Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of IEUX.L and ^NDX, 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.L^NDXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.43

2.69

-1.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.63

0.87

-0.24

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.67

0.98

-0.30

Sharpe Ratio (All Time)

Calculated using the full available price history

0.41

0.81

-0.40

Drawdowns

IEUX.L vs. ^NDX - Drawdown Comparison

The maximum IEUX.L drawdown since its inception was -45.67%, which is greater than ^NDX's maximum drawdown of -34.63%. Use the drawdown chart below to compare losses from any high point for IEUX.L and ^NDX.

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Drawdown Indicators

IEUX.L^NDXDifference

Max Drawdown

Largest peak-to-trough decline

-45.67%

-34.63%

-11.04%

Max Drawdown (1Y)

Largest decline over 1 year

-10.76%

-12.05%

+1.29%

Max Drawdown (3Y)

Largest decline over 3 years

-13.16%

-24.98%

+11.82%

Max Drawdown (5Y)

Largest decline over 5 years

-19.67%

-28.43%

+8.76%

Max Drawdown (10Y)

Largest decline over 10 years

-27.53%

-28.43%

+0.90%

Current Drawdown

Current decline from peak

-0.19%

-0.53%

+0.34%

Average Drawdown

Average peak-to-trough decline

-7.45%

-5.62%

-1.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.03%

3.98%

-0.95%

Volatility

IEUX.L vs. ^NDX - Volatility Comparison

iShares MSCI Europe ex-UK UCITS (IEUX.L) and NASDAQ 100 Index (^NDX) have volatilities of 4.10% and 3.97%, 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.L^NDXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.10%

3.97%

+0.13%

Volatility (6M)

Calculated over the trailing 6-month period

10.65%

11.00%

-0.35%

Volatility (1Y)

Calculated over the trailing 1-year period

12.91%

15.42%

-2.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.69%

21.32%

-6.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.44%

22.44%

-7.00%

Frequently Asked Questions

IEUX.L and ^NDX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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