IUSE.L vs. IUES.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L).

IUSE.L and IUES.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IUSE.L is a passively managed fund by iShares that tracks the performance of the S&P 500 EUR Hedged Index. It was launched on Sep 30, 2010. IUES.L is a passively managed fund by iShares that tracks the performance of the MSCI World/Energy NR USD. It was launched on Nov 20, 2015. Both IUSE.L and IUES.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IUSE.L vs. IUES.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L). The values are adjusted to include any dividend payments, if applicable.

IUSE.L vs. IUES.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUSE.L iShares S&P 500 EUR Hedged UCITS ETF Acc	-4.73%	14.95%	23.20%	23.05%	-21.17%	27.85%	14.81%	26.33%	-8.40%	19.04%
IUES.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc)	33.64%	-3.22%	10.73%	-3.61%	74.00%	63.31%	-38.84%	11.27%	-14.28%	-13.33%

Different Trading Currencies

IUSE.L is traded in EUR, while IUES.L is traded in USD. To make them comparable, the IUES.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IUSE.L achieves a -4.73% return, which is significantly lower than IUES.L's 33.64% return. Over the past 10 years, IUSE.L has outperformed IUES.L with an annualized return of 11.23%, while IUES.L has yielded a comparatively lower 10.31% annualized return.

IUSE.L

• 1D: 2.44%
• 1M: -3.97%
• YTD: -4.73%
• 6M: -2.12%
• 1Y: 15.45%
• 3Y*: 16.09%
• 5Y*: 9.26%
• 10Y*: 11.23%

IUES.L

• 1D: -6.19%
• 1M: 5.43%
• YTD: 33.64%
• 6M: 36.38%
• 1Y: 21.45%
• 3Y*: 13.30%
• 5Y*: 23.67%
• 10Y*: 10.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IUSE.L vs. IUES.L - Expense Ratio Comparison

IUSE.L has a 0.20% expense ratio, which is higher than IUES.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

IUSE.L

iShares S&P 500 EUR Hedged UCITS ETF Acc

IUES.L

iShares S&P 500 Energy Sector UCITS ETF USD (Acc)

Return for Risk

IUSE.L vs. IUES.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IUSE.L

IUSE.L Risk / Return Rank: 56
IUSE.L Sharpe Ratio Rank: 51
IUSE.L Sortino Ratio Rank: 51
IUSE.L Omega Ratio Rank: 52
IUSE.L Calmar Ratio Rank: 61
IUSE.L Martin Ratio Rank: 63

IUES.L

IUES.L Risk / Return Rank: 68
IUES.L Sharpe Ratio Rank: 70
IUES.L Sortino Ratio Rank: 65
IUES.L Omega Ratio Rank: 63
IUES.L Calmar Ratio Rank: 74
IUES.L Martin Ratio Rank: 65

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.

IUSE.L vs. IUES.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L). 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.

	IUSE.L	IUES.L	Difference
Sharpe ratio Return per unit of total volatility	0.97	0.87	+0.11
Sortino ratio Return per unit of downside risk	1.44	1.22	+0.22
Omega ratio Gain probability vs. loss probability	1.21	1.17	+0.03
Calmar ratio Return relative to maximum drawdown	1.72	1.32	+0.40
Martin ratio Return relative to average drawdown	6.99	3.70	+3.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUSE.L vs. IUES.L - Sharpe Ratio Comparison

The current IUSE.L Sharpe Ratio is 0.97, which is comparable to the IUES.L Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of IUSE.L and IUES.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IUSE.L	IUES.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	0.87	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.87	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.36	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.29	+0.45

Correlation

The correlation between IUSE.L and IUES.L is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IUSE.L vs. IUES.L - Dividend Comparison

Neither IUSE.L nor IUES.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

IUSE.L vs. IUES.L - Drawdown Comparison

The maximum IUSE.L drawdown since its inception was -34.75%, smaller than the maximum IUES.L drawdown of -65.53%. Use the drawdown chart below to compare losses from any high point for IUSE.L and IUES.L.

Drawdown Indicators

	IUSE.L	IUES.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.75%	-66.78%	+32.03%
Max Drawdown (1Y) Largest decline over 1 year	-11.60%	-19.01%	+7.41%
Max Drawdown (5Y) Largest decline over 5 years	-26.23%	-27.98%	+1.75%
Max Drawdown (10Y) Largest decline over 10 years	-34.75%	-66.78%	+32.03%
Current Drawdown Current decline from peak	-5.90%	-6.62%	+0.72%
Average Drawdown Average peak-to-trough decline	-4.35%	-14.29%	+9.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	4.26%	-2.13%

Volatility

IUSE.L vs. IUES.L - Volatility Comparison

The current volatility for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) is 4.90%, while iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) has a volatility of 9.29%. This indicates that IUSE.L experiences smaller price fluctuations and is considered to be less risky than IUES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUSE.L	IUES.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	9.29%	-4.39%
Volatility (6M) Calculated over the trailing 6-month period	8.72%	15.67%	-6.95%
Volatility (1Y) Calculated over the trailing 1-year period	15.87%	24.67%	-8.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.98%	27.14%	-11.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.29%	28.66%	-12.37%