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ISEU.L vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ISEU.L vs. IEFA

Last updated Jun 5, 2026

ISEU.L (iShares MSCI Europe UCITS Dist) and IEFA (iShares Core MSCI EAFE ETF) are both exchange-traded funds - ISEU.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net). Both are passively managed. Over the past 5 years, ISEU.L returned 8.98%/yr vs 8.23%/yr for IEFA. A 0.71 correlation means they provide meaningful diversification when combined. ISEU.L charges 1.00%/yr vs 0.07%/yr for IEFA.

Performance

ISEU.L vs. IEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Europe UCITS Dist (ISEU.L) and iShares Core MSCI EAFE ETF (IEFA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ISEU.L achieves a 6.49% return, which is significantly lower than IEFA's 9.67% return.

ISEU.L

1D
0.66%
1M
2.76%
YTD
6.49%
6M
9.55%
1Y
18.11%
3Y*
16.86%
5Y*
8.98%
10Y*
—

IEFA

1D
0.75%
1M
2.81%
YTD
9.67%
6M
12.00%
1Y
22.30%
3Y*
17.24%
5Y*
8.23%
10Y*
9.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ISEU.L vs. IEFA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ISEU.L
iShares MSCI Europe UCITS Dist		6.49%35.19%2.19%19.52%-13.73%15.84%5.73%23.56%-14.38%26.22%
IEFA
iShares Core MSCI EAFE ETF		9.67%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%

Correlation

The correlation between ISEU.L and IEFA is 0.72, 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

0.72

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

0.72

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

0.73

Correlation (All Time)
Calculated using the full available price history since Nov 29, 2016

0.71

The correlation between ISEU.L and IEFA has been stable across timeframes, ranging from 0.71 to 0.73 - a consistent structural relationship.

ISEU.L vs. IEFA - Sectors Allocation Comparison

Sectors
ISEU.L
IEFA

Financial Services

23.3%
22.5%

Industrials

19.7%
20.1%

Healthcare

13.1%
9.5%

Technology

8.6%
10.8%

Consumer Defensive

8.4%
6.6%

Consumer Cyclical

6.3%
8.0%

Basic Materials

5.6%
7.0%

Energy

5.4%
3.8%

Utilities

5.1%
3.6%

Communication Services

3.7%
4.4%

Real Estate

0.8%
3.0%

Financial Services

ISEU.L
23.3%
IEFA
22.5%

Industrials

ISEU.L
19.7%
IEFA
20.1%

Healthcare

ISEU.L
13.1%
IEFA
9.5%

Technology

ISEU.L
8.6%
IEFA
10.8%

Consumer Defensive

ISEU.L
8.4%
IEFA
6.6%

Consumer Cyclical

ISEU.L
6.3%
IEFA
8.0%

Basic Materials

ISEU.L
5.6%
IEFA
7.0%

Energy

ISEU.L
5.4%
IEFA
3.8%

Utilities

ISEU.L
5.1%
IEFA
3.6%

Communication Services

ISEU.L
3.7%
IEFA
4.4%

Real Estate

ISEU.L
0.8%
IEFA
3.0%

Compare stocks, funds, or ETFs

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iShares MSCI Europe UCITS Dist

iShares Core MSCI EAFE ETF

Often compared with ISEU.L:
ISEU.L vs. ISX5.LISEU.L vs. EMMISEU.L vs. MJMT.DEISEU.L vs. VEUR.LISEU.L vs. QQQISEU.L vs. CSPX.LISEU.L vs. ^GSPC
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

ISEU.L vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ISEU.L
ISEU.L Risk / Return Rank: 3434
Overall Rank
ISEU.L Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
ISEU.L Sortino Ratio Rank: 3434
Sortino Ratio Rank
ISEU.L Omega Ratio Rank: 3434
Omega Ratio Rank
ISEU.L Calmar Ratio Rank: 3333
Calmar Ratio Rank
ISEU.L Martin Ratio Rank: 3737
Martin Ratio Rank
IEFA
IEFA Risk / Return Rank: 4444
Overall Rank
IEFA Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4444
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4444
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4141
Calmar Ratio Rank
IEFA Martin Ratio Rank: 4646
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.

ISEU.L vs. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe UCITS Dist (ISEU.L) and iShares Core MSCI EAFE ETF (IEFA). 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.

ISEU.LIEFADifference
Sharpe ratioReturn per unit of total volatility
1.19
1.50

-0.31

Sortino ratioReturn per unit of downside risk
1.77
2.16

-0.39

Omega ratioGain probability vs. loss probability

1.22

1.27

-0.05

Calmar ratioReturn relative to maximum drawdown

1.57

1.95

-0.38

Martin ratioReturn relative to average drawdown

5.63

7.43

-1.80

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

ISEU.L vs. IEFA - Sharpe Ratio Comparison

The current ISEU.L Sharpe Ratio is 1.19, which is comparable to the IEFA Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of ISEU.L and IEFA, 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

ISEU.LIEFADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.19

1.50

-0.31

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.51

0.50

+0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.54

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

0.51

+0.09

Drawdowns

ISEU.L vs. IEFA - Drawdown Comparison

The maximum ISEU.L drawdown since its inception was -36.02%, roughly equal to the maximum IEFA drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for ISEU.L and IEFA.

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Drawdown Indicators

ISEU.LIEFADifference

Max Drawdown

Largest peak-to-trough decline

-36.02%

-34.78%

-1.24%

Max Drawdown (1Y)

Largest decline over 1 year

-11.47%

-11.50%

+0.03%

Max Drawdown (3Y)

Largest decline over 3 years

-14.15%

-13.76%

-0.39%

Max Drawdown (5Y)

Largest decline over 5 years

-30.77%

-30.41%

-0.36%

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.78%

—

Current Drawdown

Current decline from peak

-1.38%

-0.46%

-0.92%

Average Drawdown

Average peak-to-trough decline

-6.33%

-6.69%

+0.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.21%

3.01%

+0.20%

Volatility

ISEU.L vs. IEFA - Volatility Comparison

iShares MSCI Europe UCITS Dist (ISEU.L) has a higher volatility of 5.35% compared to iShares Core MSCI EAFE ETF (IEFA) at 4.75%. This indicates that ISEU.L's price experiences larger fluctuations and is considered to be riskier than IEFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ISEU.LIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

5.35%

4.75%

+0.60%

Volatility (6M)

Calculated over the trailing 6-month period

12.62%

12.44%

+0.18%

Volatility (1Y)

Calculated over the trailing 1-year period

15.14%

14.94%

+0.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.66%

16.50%

+1.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.61%

17.29%

+0.32%

ISEU.L vs. IEFA - Expense Ratio Comparison

ISEU.L has a 1.00% expense ratio, which is higher than IEFA's 0.07% expense ratio.

Dividends

ISEU.L vs. IEFA - Dividend Comparison

ISEU.L's dividend yield for the trailing twelve months is around 2.54%, less than IEFA's 3.24% yield.

PositionTTM20252024202320222021202020192018201720162015
IEFA
iShares Core MSCI EAFE ETF		3.24%3.55%3.47%3.20%2.70%3.32%1.90%3.18%3.46%2.57%2.96%2.63%
ISEU.L
iShares MSCI Europe UCITS Dist		2.54%2.46%3.00%2.81%2.86%2.36%1.91%3.03%3.28%2.48%0.00%0.00%

Frequently Asked Questions

ISEU.L and IEFA have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

IEFA is cheaper with a 0.07% expense ratio, compared with 1.00% for ISEU.L.

ISEU.L is categorized as Europe Equities, while IEFA is Foreign Large Cap Equities. ISEU.L tracks MSCI Europe NR EUR, while IEFA tracks MSCI EAFE IMI Index (Net). Their fees differ too: 1.00% for ISEU.L and 0.07% for IEFA.

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