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IVE.AX vs. ESTX.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IVE.AX vs. ESTX.AX

Last updated Jul 16, 2026
Documentation

IVE.AX (iShares MSCI EAFE ETF (AU)) and ESTX.AX (Global X EURO STOXX 50 ETF) are both Global Equities funds - IVE.AX tracks the iShares MSCI EAFE Index while ESTX.AX tracks the EURO STOXX 50 Index. Both are passively managed. Over the past 5 years, IVE.AX returned 10.15%/yr vs 12.14%/yr for ESTX.AX. A 0.79 correlation means they provide meaningful diversification when combined.

Performance

IVE.AX vs. ESTX.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in iShares MSCI EAFE ETF (AU) (IVE.AX) and Global X EURO STOXX 50 ETF (ESTX.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IVE.AX achieves a 5.33% return, which is significantly higher than ESTX.AX's 3.22% return.

IVE.AX

1D
0.23%
1M
0.41%
6M
2.52%
YTD
5.33%
1Y
13.07%
3Y*
13.56%
5Y*
10.15%
10Y*
10.14%

ESTX.AX

1D
0.34%
1M
0.52%
6M
-0.32%
YTD
3.22%
1Y
8.95%
3Y*
14.83%
5Y*
12.14%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IVE.AX vs. ESTX.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IVE.AX
iShares MSCI EAFE ETF (AU)		5.33%21.53%11.29%16.82%-6.23%16.98%-0.38%22.82%-3.05%14.57%
ESTX.AX
Global X EURO STOXX 50 ETF		3.22%27.21%13.48%23.32%-7.46%18.99%-2.51%27.06%-8.09%15.99%

Correlation

The correlation between IVE.AX and ESTX.AX is 0.86, 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

0.86

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

0.84

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

0.85

Correlation (All Time)
Calculated using the full available price history since Jul 19, 2016

0.79

The correlation between IVE.AX and ESTX.AX has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

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iShares MSCI EAFE ETF (AU)

Global X EURO STOXX 50 ETF

Return for Risk

IVE.AX vs. ESTX.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IVE.AX
IVE.AX Risk / Return Rank: 3535
Overall Rank
IVE.AX Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
IVE.AX Sortino Ratio Rank: 3636
Sortino Ratio Rank
IVE.AX Omega Ratio Rank: 3838
Omega Ratio Rank
IVE.AX Calmar Ratio Rank: 3030
Calmar Ratio Rank
IVE.AX Martin Ratio Rank: 3535
Martin Ratio Rank
ESTX.AX
ESTX.AX Risk / Return Rank: 2121
Overall Rank
ESTX.AX Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
ESTX.AX Sortino Ratio Rank: 2121
Sortino Ratio Rank
ESTX.AX Omega Ratio Rank: 2222
Omega Ratio Rank
ESTX.AX Calmar Ratio Rank: 1919
Calmar Ratio Rank
ESTX.AX Martin Ratio Rank: 2121
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.

IVE.AX vs. ESTX.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE ETF (AU) (IVE.AX) and Global X EURO STOXX 50 ETF (ESTX.AX). 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.

IVE.AXESTX.AXDifference
Sharpe ratioReturn per unit of total volatility
1.10
0.65

+0.45

Sortino ratioReturn per unit of downside risk
1.61
1.00

+0.60

Omega ratioGain probability vs. loss probability

1.21

1.13

+0.08

Calmar ratioReturn relative to maximum drawdown

1.28

0.71

+0.58

Martin ratioReturn relative to average drawdown

4.35

2.05

+2.30

IVE.AX vs. ESTX.AX - Sharpe Ratio Comparison

The current IVE.AX Sharpe Ratio is 1.10, which is higher than the ESTX.AX Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of IVE.AX and ESTX.AX, 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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Drawdowns

IVE.AX vs. ESTX.AX - Drawdown Comparison

The maximum IVE.AX drawdown since its inception was -45.63%, which is greater than ESTX.AX's maximum drawdown of -29.33%. Use the drawdown chart below to compare losses from any high point for IVE.AX and ESTX.AX.

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Drawdown Indicators

IVE.AXESTX.AXDifference

Max Drawdown

Largest peak-to-trough decline

-45.63%

-29.33%

-16.30%

Max Drawdown (1Y)

Largest decline over 1 year

-10.66%

-14.48%

+3.82%

Max Drawdown (3Y)

Largest decline over 3 years

-10.66%

-14.48%

+3.82%

Max Drawdown (5Y)

Largest decline over 5 years

-19.28%

-26.60%

+7.32%

Max Drawdown (10Y)

Largest decline over 10 years

-24.20%

—

—

Current Drawdown

Current decline from peak

-1.65%

-2.65%

+1.00%

Average Drawdown

Average peak-to-trough decline

-13.68%

-5.29%

-8.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.18%

5.06%

-1.88%

Volatility

IVE.AX vs. ESTX.AX - Volatility Comparison

The current volatility for iShares MSCI EAFE ETF (AU) (IVE.AX) is 2.80%, while Global X EURO STOXX 50 ETF (ESTX.AX) has a volatility of 3.11%. This indicates that IVE.AX experiences smaller price fluctuations and is considered to be less risky than ESTX.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IVE.AXESTX.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.80%

3.11%

-0.31%

Volatility (6M)

Calculated over the trailing 6-month period

10.90%

13.59%

-2.69%

Volatility (1Y)

Calculated over the trailing 1-year period

12.44%

15.76%

-3.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.12%

16.35%

-4.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.76%

16.23%

-3.47%

Dividends

IVE.AX vs. ESTX.AX - Dividend Comparison

IVE.AX's dividend yield for the trailing twelve months is around 3.59%, less than ESTX.AX's 7.25% yield.

PositionTTM2025202420232022202120202019201820172016
ESTX.AX
Global X EURO STOXX 50 ETF		7.25%1.79%4.19%3.67%3.90%1.60%2.15%2.79%4.16%1.15%0.15%
IVE.AX
iShares MSCI EAFE ETF (AU)		3.59%3.54%1.59%2.76%3.74%3.49%2.53%4.82%3.37%1.17%0.00%

Frequently Asked Questions

IVE.AX and ESTX.AX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IVE.AX tracks iShares MSCI EAFE Index, while ESTX.AX tracks EURO STOXX 50 Index. They also come from different issuers: iShares and Global X.

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