IQQN.DE vs. USUE.DE
IQQN.DE (iShares MSCI North America UCITS ETF) and USUE.DE (UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) Acc) are both Large Cap Blend Equities funds - IQQN.DE tracks the MSCI North America while USUE.DE tracks the MSCI USA Select Factor Mix. Both are passively managed. Over the past 5 years, IQQN.DE returned 13.97%/yr vs 11.49%/yr for USUE.DE. Their correlation of 0.90 suggests significant overlap in exposure. IQQN.DE charges 0.40%/yr vs 0.25%/yr for USUE.DE.
Performance
IQQN.DE vs. USUE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IQQN.DE achieves a 11.09% return, which is significantly lower than USUE.DE's 13.01% return.
IQQN.DE
- 1D
- -0.05%
- 1M
- 4.42%
- YTD
- 11.09%
- 6M
- 10.54%
- 1Y
- 24.97%
- 3Y*
- 18.64%
- 5Y*
- 13.97%
- 10Y*
- 14.38%
USUE.DE
- 1D
- 0.29%
- 1M
- 4.17%
- YTD
- 13.01%
- 6M
- 12.87%
- 1Y
- 21.80%
- 3Y*
- 15.86%
- 5Y*
- 11.49%
- 10Y*
- —
IQQN.DE vs. USUE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IQQN.DE iShares MSCI North America UCITS ETF | 11.09% | 4.95% | 31.43% | 22.31% | -15.50% | 38.10% | 2.82% |
USUE.DE UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) Acc | 13.01% | 1.00% | 25.07% | 12.96% | -8.63% | 35.62% | -1.09% |
Correlation
The correlation between IQQN.DE and USUE.DE is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2020 | 0.90 |
The correlation between IQQN.DE and USUE.DE shifts across timeframes, from 0.71 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IQQN.DE vs. USUE.DE — Risk / Return Rank
IQQN.DE
USUE.DE
IQQN.DE vs. USUE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI North America UCITS ETF (IQQN.DE) and UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) Acc (USUE.DE). 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.
| IQQN.DE | USUE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.33 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 4.41 | -0.94 |
| Martin ratioReturn relative to average drawdown | 12.25 | 14.20 | -1.95 |
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
| IQQN.DE | USUE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.16 | 1.89 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.91 | 0.79 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.65 | -0.06 |
Drawdowns
IQQN.DE vs. USUE.DE - Drawdown Comparison
The maximum IQQN.DE drawdown since its inception was -52.40%, which is greater than USUE.DE's maximum drawdown of -35.36%. Use the drawdown chart below to compare losses from any high point for IQQN.DE and USUE.DE.
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Drawdown Indicators
| IQQN.DE | USUE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.40% | -35.36% | -17.04% |
Max Drawdown (1Y)Largest decline over 1 year | -7.22% | -4.86% | -2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -23.46% | -20.79% | -2.67% |
Max Drawdown (5Y)Largest decline over 5 years | -23.46% | -20.79% | -2.67% |
Max Drawdown (10Y)Largest decline over 10 years | -34.38% | — | — |
Current DrawdownCurrent decline from peak | -0.35% | 0.00% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -9.11% | -5.53% | -3.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 1.51% | +0.54% |
Volatility
IQQN.DE vs. USUE.DE - Volatility Comparison
The current volatility for iShares MSCI North America UCITS ETF (IQQN.DE) is 2.66%, while UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) Acc (USUE.DE) has a volatility of 2.84%. This indicates that IQQN.DE experiences smaller price fluctuations and is considered to be less risky than USUE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IQQN.DE | USUE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 2.84% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 7.55% | 7.98% | -0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.56% | 11.34% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.24% | 14.42% | +0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.09% | 17.33% | -1.24% |
IQQN.DE vs. USUE.DE - Expense Ratio Comparison
IQQN.DE has a 0.40% expense ratio, which is higher than USUE.DE's 0.25% expense ratio.
Dividends
IQQN.DE vs. USUE.DE - Dividend Comparison
IQQN.DE's dividend yield for the trailing twelve months is around 0.61%, while USUE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IQQN.DE iShares MSCI North America UCITS ETF | 0.61% | 0.68% | 0.75% | 0.99% | 1.15% | 0.73% | 1.09% | 1.22% | 1.42% | 1.34% | 1.37% | 1.53% |
USUE.DE UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) 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% |
Frequently Asked Questions
IQQN.DE and USUE.DE have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USUE.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USUE.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for IQQN.DE.
IQQN.DE tracks MSCI North America, while USUE.DE tracks MSCI USA Select Factor Mix. They also come from different issuers: iShares and UBS. Their fees differ too: 0.40% for IQQN.DE and 0.25% for USUE.DE.
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