PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IJR.AX vs. IEU.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJR.AX vs. IEU.AX

Last updated Jul 18, 2026
Documentation

IJR.AX (iShares S&P Small-Cap ETF) and IEU.AX (iShares Europe ETF (AU)) are both exchange-traded funds - IJR.AX is a Small Cap Blend Equities fund tracking the iShares S&P Small-Cap Index, while IEU.AX is a Europe Equities fund tracking the iShares Europe Index. Both are passively managed. Over the past 10 years, IJR.AX returned 19.56%/yr vs 10.46%/yr for IEU.AX. At a 0.48 correlation, their price movements are largely independent.

Performance

IJR.AX vs. IEU.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in iShares S&P Small-Cap ETF (IJR.AX) and iShares Europe ETF (AU) (IEU.AX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IJR.AX achieves a 16.16% return, which is significantly higher than IEU.AX's 2.75% return. Over the past 10 years, IJR.AX has outperformed IEU.AX with an annualized return of 19.56%, while IEU.AX has yielded a comparatively lower 10.46% annualized return.

IJR.AX

1D
0.28%
1M
3.74%
6M
8.94%
YTD
16.16%
1Y
22.67%
3Y*
13.24%
5Y*
9.11%
10Y*
19.56%

IEU.AX

1D
-0.87%
1M
0.21%
6M
0.17%
YTD
2.75%
1Y
8.20%
3Y*
12.98%
5Y*
10.54%
10Y*
10.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJR.AX vs. IEU.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IJR.AX
iShares S&P Small-Cap ETF		16.16%-1.20%16.88%16.63%-9.47%34.92%1.20%24.13%1.02%107.76%
IEU.AX
iShares Europe ETF (AU)		2.75%23.63%10.42%18.56%-5.75%22.27%-3.43%25.90%-4.80%15.54%

Correlation

The correlation between IJR.AX and IEU.AX is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.54

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

0.48

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

0.52

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

0.54

Correlation (All Time)
Calculated using the full available price history since Oct 10, 2007

0.48

The correlation between IJR.AX and IEU.AX has been stable across timeframes, ranging from 0.48 to 0.54 - 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 S&P Small-Cap ETF

iShares Europe ETF (AU)

Often compared with IJR.AX:
IJR.AX vs. SSO.AXIJR.AX vs. ISO.AXIJR.AX vs. MVS.AXIJR.AX vs. SMLL.AXIJR.AX vs. VISM.AXIJR.AX vs. AUMF.AXIJR.AX vs. BILL.AX
Often compared with IEU.AX:
IEU.AX vs. AUMF.AXIEU.AX vs. BILL.AXIEU.AX vs. GLIN.AXIEU.AX vs. ILB.AXIEU.AX vs. IVV.AXIEU.AX vs. MVOL.AXIEU.AX vs. WDMF.AX

Return for Risk

IJR.AX vs. IEU.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IJR.AX
IJR.AX Risk / Return Rank: 4949
Overall Rank
IJR.AX Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
IJR.AX Sortino Ratio Rank: 5050
Sortino Ratio Rank
IJR.AX Omega Ratio Rank: 4949
Omega Ratio Rank
IJR.AX Calmar Ratio Rank: 5050
Calmar Ratio Rank
IJR.AX Martin Ratio Rank: 4747
Martin Ratio Rank
IEU.AX
IEU.AX Risk / Return Rank: 2222
Overall Rank
IEU.AX Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
IEU.AX Sortino Ratio Rank: 2222
Sortino Ratio Rank
IEU.AX Omega Ratio Rank: 2323
Omega Ratio Rank
IEU.AX Calmar Ratio Rank: 2020
Calmar Ratio Rank
IEU.AX Martin Ratio Rank: 2323
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.

IJR.AX vs. IEU.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P Small-Cap ETF (IJR.AX) and iShares Europe ETF (AU) (IEU.AX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

IJR.AXIEU.AXDifference
Sharpe ratioReturn per unit of total volatility
1.33
0.62

+0.71

Sortino ratioReturn per unit of downside risk
1.90
0.96

+0.94

Omega ratioGain probability vs. loss probability

1.24

1.12

+0.12

Calmar ratioReturn relative to maximum drawdown

1.91

0.66

+1.26

Martin ratioReturn relative to average drawdown

5.86

2.10

+3.76

IJR.AX vs. IEU.AX - Sharpe Ratio Comparison

The current IJR.AX Sharpe Ratio is 1.33, which is higher than the IEU.AX Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of IJR.AX and IEU.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

IJR.AX vs. IEU.AX - Drawdown Comparison

The maximum IJR.AX drawdown since its inception was -35.55%, smaller than the maximum IEU.AX drawdown of -38.80%. Use the drawdown chart below to compare losses from any high point for IJR.AX and IEU.AX.

Loading charts...

Drawdown Indicators

IJR.AXIEU.AXDifference

Max Drawdown

Largest peak-to-trough decline

-35.55%

-38.80%

+3.25%

Max Drawdown (1Y)

Largest decline over 1 year

-11.45%

-12.04%

+0.59%

Max Drawdown (3Y)

Largest decline over 3 years

-24.63%

-12.04%

-12.59%

Max Drawdown (5Y)

Largest decline over 5 years

-24.63%

-21.67%

-2.96%

Max Drawdown (10Y)

Largest decline over 10 years

-34.84%

-29.90%

-4.94%

Current Drawdown

Current decline from peak

-2.19%

-2.78%

+0.59%

Average Drawdown

Average peak-to-trough decline

-8.01%

-10.63%

+2.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.78%

3.82%

-0.04%

Volatility

IJR.AX vs. IEU.AX - Volatility Comparison

iShares S&P Small-Cap ETF (IJR.AX) has a higher volatility of 3.47% compared to iShares Europe ETF (AU) (IEU.AX) at 2.73%. This indicates that IJR.AX's price experiences larger fluctuations and is considered to be riskier than IEU.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IJR.AXIEU.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.47%

2.73%

+0.74%

Volatility (6M)

Calculated over the trailing 6-month period

12.33%

10.98%

+1.35%

Volatility (1Y)

Calculated over the trailing 1-year period

16.53%

12.72%

+3.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.46%

13.31%

+5.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

36.91%

14.78%

+22.13%

Dividends

IJR.AX vs. IEU.AX - Dividend Comparison

IJR.AX's dividend yield for the trailing twelve months is around 0.76%, less than IEU.AX's 7.41% yield.

PositionTTM20252024202320222021202020192018201720162015
IEU.AX
iShares Europe ETF (AU)		7.41%1.98%1.92%3.38%3.95%2.93%2.07%4.52%3.95%2.04%1.88%2.34%
IJR.AX
iShares S&P Small-Cap ETF		0.76%0.87%1.26%1.29%1.86%1.66%1.52%2.18%1.53%0.10%0.70%0.00%

Frequently Asked Questions

IJR.AX and IEU.AX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IJR.AX is categorized as Small Cap Blend Equities, while IEU.AX is Europe Equities. IJR.AX tracks iShares S&P Small-Cap Index, while IEU.AX tracks iShares Europe Index.

Portfolio Optimizer

Find the right allocation for IJR.AX and IEU.AX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer