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IMEU.AS vs. VUSA.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IMEU.AS vs. VUSA.AS

Last updated Jun 4, 2026

IMEU.AS (iShares Core MSCI Europe UCITS ETF EUR (Dist)) and VUSA.AS (Vanguard S&P 500 UCITS ETF) are both exchange-traded funds - IMEU.AS is a Europe Equities fund tracking the MSCI Europe NR EUR, while VUSA.AS is a S&P 500 fund tracking the S&P 500. Both are passively managed. Over the past 10 years, IMEU.AS returned 9.15%/yr vs 15.02%/yr for VUSA.AS. A 0.72 correlation means they provide meaningful diversification when combined. IMEU.AS charges 1.00%/yr vs 0.07%/yr for VUSA.AS.

Performance

IMEU.AS vs. VUSA.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Core MSCI Europe UCITS ETF EUR (Dist) (IMEU.AS) and Vanguard S&P 500 UCITS ETF (VUSA.AS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IMEU.AS achieves a 6.89% return, which is significantly lower than VUSA.AS's 11.71% return. Over the past 10 years, IMEU.AS has underperformed VUSA.AS with an annualized return of 9.15%, while VUSA.AS has yielded a comparatively higher 15.02% annualized return.

IMEU.AS

1D
-0.67%
1M
3.83%
YTD
6.89%
6M
9.70%
1Y
16.16%
3Y*
13.32%
5Y*
9.85%
10Y*
9.15%

VUSA.AS

1D
-0.32%
1M
6.05%
YTD
11.71%
6M
11.62%
1Y
25.70%
3Y*
19.13%
5Y*
14.79%
10Y*
15.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IMEU.AS vs. VUSA.AS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IMEU.AS
iShares Core MSCI Europe UCITS ETF EUR (Dist)		6.89%19.89%8.97%15.72%-9.15%25.73%-3.22%25.57%-9.62%10.04%
VUSA.AS
Vanguard S&P 500 UCITS ETF		11.71%3.90%33.86%22.12%-14.18%40.36%7.72%32.99%-0.37%6.68%

Correlation

The correlation between IMEU.AS and VUSA.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

0.57

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

0.65

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

0.70

Correlation (All Time)
Calculated using the full available price history since Jun 7, 2013

0.72

The correlation between IMEU.AS and VUSA.AS shifts across timeframes, from 0.57 (3 years) to 0.72 (all time), reflecting how their relationship changes across market environments.

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iShares Core MSCI Europe UCITS ETF EUR (Dist)

Vanguard S&P 500 UCITS ETF

Often compared with IMEU.AS:
IMEU.AS vs. CSPX.LIMEU.AS vs. QQQMIMEU.AS vs. VUAA.LIMEU.AS vs. IEMU.LIMEU.AS vs. VEUR.ASIMEU.AS vs. VIDY.TOIMEU.AS vs. VHYL.AS
Often compared with VUSA.AS:
VUSA.AS vs. VUAA.LVUSA.AS vs. VUAG.LVUSA.AS vs. VWRL.ASVUSA.AS vs. VHYL.ASVUSA.AS vs. VOOVUSA.AS vs. IUSA.DEVUSA.AS vs. VEVE.AS

Return for Risk

IMEU.AS vs. VUSA.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IMEU.AS
IMEU.AS Risk / Return Rank: 3636
Overall Rank
IMEU.AS Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
IMEU.AS Sortino Ratio Rank: 3535
Sortino Ratio Rank
IMEU.AS Omega Ratio Rank: 3636
Omega Ratio Rank
IMEU.AS Calmar Ratio Rank: 3434
Calmar Ratio Rank
IMEU.AS Martin Ratio Rank: 4040
Martin Ratio Rank
VUSA.AS
VUSA.AS Risk / Return Rank: 6767
Overall Rank
VUSA.AS Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
VUSA.AS Sortino Ratio Rank: 6464
Sortino Ratio Rank
VUSA.AS Omega Ratio Rank: 6868
Omega Ratio Rank
VUSA.AS Calmar Ratio Rank: 7070
Calmar Ratio Rank
VUSA.AS Martin Ratio Rank: 6868
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.

IMEU.AS vs. VUSA.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe UCITS ETF EUR (Dist) (IMEU.AS) and Vanguard S&P 500 UCITS ETF (VUSA.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.

IMEU.ASVUSA.ASDifference
Sharpe ratioReturn per unit of total volatility
1.26
2.24

-0.98

Sortino ratioReturn per unit of downside risk
1.86
3.04

-1.18

Omega ratioGain probability vs. loss probability

1.24

1.42

-0.18

Calmar ratioReturn relative to maximum drawdown

1.68

3.56

-1.88

Martin ratioReturn relative to average drawdown

6.32

12.72

-6.40

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMEU.AS vs. VUSA.AS - Sharpe Ratio Comparison

The current IMEU.AS Sharpe Ratio is 1.26, which is lower than the VUSA.AS Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of IMEU.AS and VUSA.AS, 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

IMEU.ASVUSA.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.26

2.24

-0.98

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

0.96

-0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

0.92

-0.34

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.93

-0.63

Drawdowns

IMEU.AS vs. VUSA.AS - Drawdown Comparison

The maximum IMEU.AS drawdown since its inception was -57.85%, which is greater than VUSA.AS's maximum drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for IMEU.AS and VUSA.AS.

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Drawdown Indicators

IMEU.ASVUSA.ASDifference

Max Drawdown

Largest peak-to-trough decline

-57.85%

-33.64%

-24.21%

Max Drawdown (1Y)

Largest decline over 1 year

-9.49%

-7.13%

-2.36%

Max Drawdown (3Y)

Largest decline over 3 years

-16.34%

-23.24%

+6.90%

Max Drawdown (5Y)

Largest decline over 5 years

-19.26%

-23.24%

+3.98%

Max Drawdown (10Y)

Largest decline over 10 years

-35.73%

-33.64%

-2.09%

Current Drawdown

Current decline from peak

-2.22%

-0.32%

-1.90%

Average Drawdown

Average peak-to-trough decline

-11.91%

-4.07%

-7.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.53%

2.01%

+0.52%

Volatility

IMEU.AS vs. VUSA.AS - Volatility Comparison

iShares Core MSCI Europe UCITS ETF EUR (Dist) (IMEU.AS) has a higher volatility of 4.89% compared to Vanguard S&P 500 UCITS ETF (VUSA.AS) at 2.67%. This indicates that IMEU.AS's price experiences larger fluctuations and is considered to be riskier than VUSA.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IMEU.ASVUSA.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.89%

2.67%

+2.22%

Volatility (6M)

Calculated over the trailing 6-month period

10.53%

7.44%

+3.09%

Volatility (1Y)

Calculated over the trailing 1-year period

12.69%

11.44%

+1.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.05%

15.11%

-1.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.55%

16.01%

-0.46%

IMEU.AS vs. VUSA.AS - Expense Ratio Comparison

IMEU.AS has a 1.00% expense ratio, which is higher than VUSA.AS's 0.07% expense ratio.

Dividends

IMEU.AS vs. VUSA.AS - Dividend Comparison

IMEU.AS's dividend yield for the trailing twelve months is around 2.55%, more than VUSA.AS's 0.86% yield.

PositionTTM20252024202320222021202020192018201720162015
IMEU.AS
iShares Core MSCI Europe UCITS ETF EUR (Dist)		2.55%2.55%2.87%2.88%2.93%2.25%2.08%3.06%3.23%2.64%2.85%2.67%
VUSA.AS
Vanguard S&P 500 UCITS ETF		0.86%0.97%0.99%1.26%1.45%1.02%1.43%1.46%1.74%1.64%1.66%1.76%

Frequently Asked Questions

IMEU.AS and VUSA.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, VUSA.AS is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VUSA.AS is cheaper with a 0.07% expense ratio, compared with 1.00% for IMEU.AS.

IMEU.AS is categorized as Europe Equities, while VUSA.AS is S&P 500. IMEU.AS tracks MSCI Europe NR EUR, while VUSA.AS tracks S&P 500. They also come from different issuers: iShares and Vanguard. Their fees differ too: 1.00% for IMEU.AS and 0.07% for VUSA.AS.

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