IMAE.AS vs. INAA.AS
IMAE.AS (iShares Core MSCI Europe UCITS ETF EUR (Acc)) and INAA.AS (iShares MSCI North America UCITS ETF) are both exchange-traded funds - IMAE.AS is a Europe Equities fund tracking the MSCI Europe NR EUR, while INAA.AS is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD. Both are passively managed. Over the past 10 years, IMAE.AS returned 9.14%/yr vs 14.31%/yr for INAA.AS. A 0.67 correlation means they provide meaningful diversification when combined. IMAE.AS charges 0.20%/yr vs 0.40%/yr for INAA.AS.
Performance
IMAE.AS vs. INAA.AS - Performance Comparison
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Returns By Period
In the year-to-date period, IMAE.AS achieves a 6.95% return, which is significantly lower than INAA.AS's 11.30% return. Over the past 10 years, IMAE.AS has underperformed INAA.AS with an annualized return of 9.14%, while INAA.AS has yielded a comparatively higher 14.31% annualized return.
IMAE.AS
- 1D
- -0.71%
- 1M
- 3.95%
- YTD
- 6.95%
- 6M
- 9.74%
- 1Y
- 16.05%
- 3Y*
- 13.28%
- 5Y*
- 9.84%
- 10Y*
- 9.14%
INAA.AS
- 1D
- -0.35%
- 1M
- 5.90%
- YTD
- 11.30%
- 6M
- 11.28%
- 1Y
- 24.90%
- 3Y*
- 18.79%
- 5Y*
- 13.88%
- 10Y*
- 14.31%
IMAE.AS vs. INAA.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMAE.AS iShares Core MSCI Europe UCITS ETF EUR (Acc) | 6.95% | 19.74% | 8.89% | 15.99% | -9.31% | 25.66% | -3.06% | 25.45% | -9.65% | 10.15% |
INAA.AS iShares MSCI North America UCITS ETF | 11.30% | 4.00% | 32.96% | 20.94% | -14.85% | 37.53% | 9.22% | 32.33% | -1.61% | 6.00% |
Correlation
The correlation between IMAE.AS and INAA.AS is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2009 | 0.67 |
The correlation between IMAE.AS and INAA.AS shifts across timeframes, from 0.56 (3 years) to 0.70 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
IMAE.AS vs. INAA.AS — Risk / Return Rank
IMAE.AS
INAA.AS
IMAE.AS vs. INAA.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) and iShares MSCI North America UCITS ETF (INAA.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.
| IMAE.AS | INAA.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.41 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 3.39 | -1.72 |
| Martin ratioReturn relative to average drawdown | 6.19 | 12.05 | -5.86 |
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
| IMAE.AS | INAA.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.24 | 2.17 | -0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.90 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.87 | -0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.63 | -0.10 |
Drawdowns
IMAE.AS vs. INAA.AS - Drawdown Comparison
The maximum IMAE.AS drawdown since its inception was -35.60%, smaller than the maximum INAA.AS drawdown of -51.35%. Use the drawdown chart below to compare losses from any high point for IMAE.AS and INAA.AS.
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Drawdown Indicators
| IMAE.AS | INAA.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.60% | -51.35% | +15.75% |
Max Drawdown (1Y)Largest decline over 1 year | -9.47% | -7.25% | -2.22% |
Max Drawdown (3Y)Largest decline over 3 years | -16.51% | -23.43% | +6.92% |
Max Drawdown (5Y)Largest decline over 5 years | -19.44% | -23.43% | +3.99% |
Max Drawdown (10Y)Largest decline over 10 years | -35.60% | -34.42% | -1.18% |
Current DrawdownCurrent decline from peak | -2.20% | -0.35% | -1.85% |
Average DrawdownAverage peak-to-trough decline | -5.32% | -8.31% | +2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 2.05% | +0.51% |
Volatility
IMAE.AS vs. INAA.AS - Volatility Comparison
iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) has a higher volatility of 4.85% compared to iShares MSCI North America UCITS ETF (INAA.AS) at 2.71%. This indicates that IMAE.AS's price experiences larger fluctuations and is considered to be riskier than INAA.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMAE.AS | INAA.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.85% | 2.71% | +2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 10.61% | 7.44% | +3.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.75% | 11.40% | +1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.15% | 15.31% | -1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 16.17% | -0.63% |
IMAE.AS vs. INAA.AS - Expense Ratio Comparison
IMAE.AS has a 0.20% expense ratio, which is lower than INAA.AS's 0.40% expense ratio.
Dividends
IMAE.AS vs. INAA.AS - Dividend Comparison
IMAE.AS has not paid dividends to shareholders, while INAA.AS's dividend yield for the trailing twelve months is around 0.52%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMAE.AS iShares Core MSCI Europe UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
INAA.AS iShares MSCI North America UCITS ETF | 0.52% | 0.59% | 0.69% | 0.92% | 1.08% | 0.62% | 0.94% | 1.10% | 1.21% | 1.18% | 1.25% | 1.39% |
Frequently Asked Questions
IMAE.AS and INAA.AS have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IMAE.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IMAE.AS is cheaper with a 0.20% expense ratio, compared with 0.40% for INAA.AS.
IMAE.AS is categorized as Europe Equities, while INAA.AS is Large Cap Blend Equities. IMAE.AS tracks MSCI Europe NR EUR, while INAA.AS tracks Russell 1000 TR USD. Their fees differ too: 0.20% for IMAE.AS and 0.40% for INAA.AS.
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