MAEFX vs. ESMAX
MAEFX (BlackRock EuroFund Fund) and ESMAX (Invesco EQV European Small Company Fund) are both Europe Equities funds. Over the past 10 years, MAEFX returned 7.83%/yr vs 9.18%/yr for ESMAX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. MAEFX charges 1.10%/yr vs 1.48%/yr for ESMAX.
Performance
MAEFX vs. ESMAX - Performance Comparison
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Returns By Period
In the year-to-date period, MAEFX achieves a 5.39% return, which is significantly lower than ESMAX's 12.04% return. Over the past 10 years, MAEFX has underperformed ESMAX with an annualized return of 7.83%, while ESMAX has yielded a comparatively higher 9.18% annualized return.
MAEFX
- 1D
- 4.52%
- 1M
- -4.12%
- 6M
- 0.21%
- YTD
- 5.39%
- 1Y
- 10.76%
- 3Y*
- 10.64%
- 5Y*
- 4.97%
- 10Y*
- 7.83%
- ALL TIME*
- 7.50%
ESMAX
- 1D
- 3.23%
- 1M
- -4.10%
- 6M
- 6.12%
- YTD
- 12.04%
- 1Y
- 11.86%
- 3Y*
- 13.65%
- 5Y*
- 6.97%
- 10Y*
- 9.18%
- ALL TIME*
- 10.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MAEFX vs. ESMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MAEFX BlackRock EuroFund Fund | 5.39% | 20.07% | 7.21% | 20.70% | -23.85% | 19.53% | 19.34% | 25.17% | -19.83% | 22.42% |
ESMAX Invesco EQV European Small Company Fund | 12.04% | 22.15% | 2.60% | 14.26% | -16.30% | 24.30% | 9.63% | 15.37% | -15.29% | 28.30% |
Correlation
The correlation between MAEFX and ESMAX is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2000 | 0.75 |
The correlation between MAEFX and ESMAX shifts across timeframes, from 0.75 (all time) to 0.85 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MAEFX vs. ESMAX — Risk / Return Rank
MAEFX
ESMAX
MAEFX vs. ESMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock EuroFund Fund (MAEFX) and Invesco EQV European Small Company Fund (ESMAX). 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.
| MAEFX | ESMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.12 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | 0.91 | -0.47 |
| Martin ratioReturn relative to average drawdown | 1.43 | 3.11 | -1.68 |
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Drawdowns
MAEFX vs. ESMAX - Drawdown Comparison
The maximum MAEFX drawdown since its inception was -62.58%, smaller than the maximum ESMAX drawdown of -65.90%. Use the drawdown chart below to compare losses from any high point for MAEFX and ESMAX.
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Drawdown Indicators
| MAEFX | ESMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.58% | -65.90% | +3.32% |
Max Drawdown (1Y)Largest decline over 1 year | -17.14% | -12.45% | -4.69% |
Max Drawdown (3Y)Largest decline over 3 years | -20.00% | -14.00% | -6.00% |
Max Drawdown (5Y)Largest decline over 5 years | -40.47% | -32.92% | -7.55% |
Max Drawdown (10Y)Largest decline over 10 years | -40.51% | -39.83% | -0.68% |
Current DrawdownCurrent decline from peak | -6.39% | -6.89% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -11.60% | -13.86% | +2.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | 3.66% | +1.67% |
Volatility
MAEFX vs. ESMAX - Volatility Comparison
BlackRock EuroFund Fund (MAEFX) has a higher volatility of 7.92% compared to Invesco EQV European Small Company Fund (ESMAX) at 6.82%. This indicates that MAEFX's price experiences larger fluctuations and is considered to be riskier than ESMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAEFX | ESMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.92% | 6.82% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 20.17% | 16.58% | +3.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.83% | 19.41% | +3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.84% | 15.68% | +7.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.38% | 14.72% | +6.66% |
MAEFX vs. ESMAX - Expense Ratio Comparison
MAEFX has a 1.10% expense ratio, which is lower than ESMAX's 1.48% expense ratio.
Dividends
MAEFX vs. ESMAX - Dividend Comparison
MAEFX's dividend yield for the trailing twelve months is around 12.03%, less than ESMAX's 31.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESMAX Invesco EQV European Small Company Fund | 31.29% | 35.06% | 9.96% | 4.94% | 11.28% | 3.24% | 2.75% | 7.01% | 6.27% | 3.21% | 2.07% | 5.41% |
MAEFX BlackRock EuroFund Fund | 12.03% | 11.58% | 1.29% | 1.24% | 0.76% | 0.00% | 0.00% | 0.45% | 2.81% | 1.19% | 2.32% | 1.64% |
Frequently Asked Questions
MAEFX and ESMAX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAEFX has higher volatility (7.92%) compared to ESMAX (6.82%). In terms of maximum drawdown, MAEFX dropped -62.58% vs ESMAX's -65.90%.
ESMAX currently has the higher Sharpe Ratio (0.59 vs 0.33), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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