IUSE.L vs. IUSA.DE
IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) and IUSA.DE (iShares Core S&P 500 UCITS ETF USD Dist) are both S&P 500 funds from iShares - IUSE.L tracks the S&P 500 EUR Hedged Index while IUSA.DE tracks the S&P 500 Index. Both are passively managed. Over the past 10 years, IUSE.L returned 12.04%/yr vs 14.31%/yr for IUSA.DE. A 0.79 correlation means they provide meaningful diversification when combined. IUSE.L charges 0.20%/yr vs 0.07%/yr for IUSA.DE.
Performance
IUSE.L vs. IUSA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IUSE.L achieves a 7.54% return, which is significantly lower than IUSA.DE's 11.82% return. Over the past 10 years, IUSE.L has underperformed IUSA.DE with an annualized return of 12.04%, while IUSA.DE has yielded a comparatively higher 14.31% annualized return.
IUSE.L
- 1D
- -1.30%
- 1M
- -0.65%
- 6M
- 6.68%
- YTD
- 7.54%
- 1Y
- 17.20%
- 3Y*
- 16.87%
- 5Y*
- 10.14%
- 10Y*
- 12.04%
IUSA.DE
- 1D
- -1.23%
- 1M
- 0.80%
- 6M
- 9.52%
- YTD
- 11.82%
- 1Y
- 21.54%
- 3Y*
- 18.64%
- 5Y*
- 13.46%
- 10Y*
- 14.31%
IUSE.L vs. IUSA.DE - 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 | 7.54% | 14.95% | 23.21% | 23.05% | -21.17% | 27.85% | 14.81% | 26.33% | -8.40% | 19.04% |
IUSA.DE iShares Core S&P 500 UCITS ETF USD Dist | 11.82% | 4.69% | 32.36% | 22.47% | -14.25% | 40.75% | 6.77% | 34.55% | -1.14% | 6.67% |
Correlation
The correlation between IUSE.L and IUSA.DE is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2010 | 0.79 |
The correlation between IUSE.L and IUSA.DE has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.
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Return for Risk
IUSE.L vs. IUSA.DE — Risk / Return Rank
IUSE.L
IUSA.DE
IUSE.L vs. IUSA.DE - 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 Core S&P 500 UCITS ETF USD Dist (IUSA.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IUSE.L | IUSA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.34 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 3.11 | -1.13 |
| Martin ratioReturn relative to average drawdown | 7.93 | 11.06 | -3.13 |
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Drawdowns
IUSE.L vs. IUSA.DE - Drawdown Comparison
The maximum IUSE.L drawdown since its inception was -34.75%, smaller than the maximum IUSA.DE drawdown of -52.05%. Use the drawdown chart below to compare losses from any high point for IUSE.L and IUSA.DE.
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Drawdown Indicators
| IUSE.L | IUSA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.75% | -52.05% | +17.30% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -6.90% | -1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -18.33% | -23.36% | +5.03% |
Max Drawdown (5Y)Largest decline over 5 years | -26.23% | -23.36% | -2.87% |
Max Drawdown (10Y)Largest decline over 10 years | -34.75% | -33.67% | -1.08% |
Current DrawdownCurrent decline from peak | -1.97% | -1.33% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -8.41% | +4.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 1.94% | +0.22% |
Volatility
IUSE.L vs. IUSA.DE - Volatility Comparison
iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and iShares Core S&P 500 UCITS ETF USD Dist (IUSA.DE) have volatilities of 3.05% and 3.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSE.L | IUSA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 3.00% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 9.34% | 7.88% | +1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.08% | 11.64% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.07% | 15.21% | +0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.29% | 16.04% | +0.25% |
IUSE.L vs. IUSA.DE - Expense Ratio Comparison
IUSE.L has a 0.20% expense ratio, which is higher than IUSA.DE's 0.07% 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%.
Dividends
IUSE.L vs. IUSA.DE - Dividend Comparison
IUSE.L has not paid dividends to shareholders, while IUSA.DE's dividend yield for the trailing twelve months is around 0.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUSA.DE iShares Core S&P 500 UCITS ETF USD Dist | 0.86% | 0.94% | 0.99% | 1.25% | 1.46% | 0.99% | 1.40% | 1.48% | 1.70% | 1.51% | 1.37% | 1.52% |
IUSE.L iShares S&P 500 EUR Hedged UCITS ETF 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
IUSE.L and IUSA.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSA.DE is cheaper with a 0.07% expense ratio, compared with 0.20% for IUSE.L.
IUSE.L tracks S&P 500 EUR Hedged Index, while IUSA.DE tracks S&P 500 Index. Their fees differ too: 0.20% for IUSE.L and 0.07% for IUSA.DE.
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