MAEFX vs. EUGDX

Last updated Jul 15, 2026

MAEFX (BlackRock EuroFund Fund) and EUGDX (Morgan Stanley Europe Opportunity Fund Inc.) are both Europe Equities funds. Their correlation of 0.88 suggests significant overlap in exposure. MAEFX charges 1.10%/yr vs 1.05%/yr for EUGDX.

Performance

MAEFX vs. EUGDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock EuroFund Fund (MAEFX) and Morgan Stanley Europe Opportunity Fund Inc. (EUGDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MAEFX

• 1D: -1.95%
• 1M: 0.47%
• 6M: 1.95%
• YTD: 6.75%
• 1Y: 6.58%
• 3Y*: 10.59%
• 5Y*: 5.66%
• 10Y*: 8.09%

EUGDX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MAEFX vs. EUGDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MAEFX BlackRock EuroFund Fund	6.75%	20.07%	7.21%	20.70%	-23.85%	19.53%	19.34%	25.17%	-19.83%	22.42%
EUGDX Morgan Stanley Europe Opportunity Fund Inc.	-4.82%	11.93%	12.41%	25.16%	-44.49%	15.80%	55.57%	27.34%	-13.02%	23.11%

Correlation

The correlation between MAEFX and EUGDX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jul 28, 1997	0.88

Over the past year, the correlation between MAEFX and EUGDX has dropped to 0.64 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.

Return for Risk

MAEFX vs. EUGDX — Risk / Return Rank

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

MAEFX

MAEFX Risk / Return Rank: 6
MAEFX Sharpe Ratio Rank: 6
MAEFX Sortino Ratio Rank: 6
MAEFX Omega Ratio Rank: 6
MAEFX Calmar Ratio Rank: 6
MAEFX Martin Ratio Rank: 7

EUGDX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

MAEFX vs. EUGDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock EuroFund Fund (MAEFX) and Morgan Stanley Europe Opportunity Fund Inc. (EUGDX). 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	EUGDX	Difference
Sharpe ratio: Return per unit of total volatility	0.29	—	—
Sortino ratio: Return per unit of downside risk	0.56	—	—
Omega ratio: Gain probability vs. loss probability	1.07	—	—
Calmar ratio: Return relative to maximum drawdown	0.37	—	—
Martin ratio: Return relative to average drawdown	1.17	—	—

Drawdowns

Drawdown Indicators

	MAEFX	EUGDX	Difference
Max Drawdown Largest peak-to-trough decline	-62.58%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-17.14%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-20.00%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-40.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.51%	—	—
Current Drawdown Current decline from peak	-5.19%	—	—
Average Drawdown Average peak-to-trough decline	-11.61%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	5.38%	—	—

Volatility

Volatility by Period

	MAEFX	EUGDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.09%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.71%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.29%	—	—

MAEFX vs. EUGDX - Expense Ratio Comparison

MAEFX has a 1.10% expense ratio, which is higher than EUGDX's 1.05% expense ratio.

Dividends

MAEFX vs. EUGDX - Dividend Comparison

MAEFX's dividend yield for the trailing twelve months is around 10.85%, more than EUGDX's 0.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUGDX Morgan Stanley Europe Opportunity Fund Inc.	0.66%	0.62%	0.00%	0.00%	0.00%	5.45%	7.53%	3.27%	1.02%	0.90%	2.75%	2.30%
MAEFX BlackRock EuroFund Fund	10.85%	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

Can I hold both MAEFX and EUGDX in my portfolio?

MAEFX and EUGDX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.