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MEUD.L vs. EWP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MEUD.L vs. EWP

Last updated Jun 9, 2026

MEUD.L (Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc) and EWP (iShares MSCI Spain ETF) are both Europe Equities funds - MEUD.L tracks the MSCI Europe NR EUR while EWP tracks the MSCI Spain Index. Both are passively managed. Over the past 10 years, MEUD.L returned 10.52%/yr vs 12.24%/yr for EWP. A 0.59 correlation means they provide meaningful diversification when combined. MEUD.L charges 0.15%/yr vs 0.50%/yr for EWP.

Performance

MEUD.L vs. EWP - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc (MEUD.L) and iShares MSCI Spain ETF (EWP). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

MEUD.L is traded in GBp, while EWP is traded in USD. To make them comparable, the EWP values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with MEUD.L having a 6.17% return and EWP slightly lower at 6.12%. Over the past 10 years, MEUD.L has underperformed EWP with an annualized return of 10.52%, while EWP has yielded a comparatively higher 12.24% annualized return.

MEUD.L

1D
0.06%
1M
2.27%
YTD
6.17%
6M
8.63%
1Y
18.55%
3Y*
14.23%
5Y*
9.58%
10Y*
10.52%

EWP

1D
-0.26%
1M
1.15%
YTD
6.12%
6M
9.64%
1Y
34.95%
3Y*
28.29%
5Y*
18.07%
10Y*
12.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MEUD.L vs. EWP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MEUD.L
Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc		6.17%26.51%3.65%13.48%-5.04%17.06%3.85%20.40%-9.59%15.43%
EWP
iShares MSCI Spain ETF		6.12%65.34%7.55%23.75%6.10%1.20%-6.76%7.67%-10.30%16.00%

Correlation

The correlation between MEUD.L and EWP 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

0.57

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

0.57

Correlation (10Y)
Calculated over the trailing 10-year period

0.58

Correlation (All Time)
Calculated using the full available price history since Apr 4, 2013

0.59

The correlation between MEUD.L and EWP has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.

MEUD.L vs. EWP - Sectors Allocation Comparison

Sectors
MEUD.L
EWP

Financial Services

23.9%
41.4%

Industrials

20.3%
16.1%

Healthcare

12.6%
1.3%

Technology

9.4%
4.9%

Consumer Defensive

7.7%

-

Consumer Cyclical

7.1%
4.0%

Energy

5.3%
5.3%

Basic Materials

5.1%

-

Utilities

4.4%
21.2%

Communication Services

3.0%
2.9%

Real Estate

1.2%
2.9%

Financial Services

MEUD.L
23.9%
EWP
41.4%

Industrials

MEUD.L
20.3%
EWP
16.1%

Healthcare

MEUD.L
12.6%
EWP
1.3%

Technology

MEUD.L
9.4%
EWP
4.9%

Consumer Defensive

MEUD.L
7.7%
EWP

-

Consumer Cyclical

MEUD.L
7.1%
EWP
4.0%

Energy

MEUD.L
5.3%
EWP
5.3%

Basic Materials

MEUD.L
5.1%
EWP

-

Utilities

MEUD.L
4.4%
EWP
21.2%

Communication Services

MEUD.L
3.0%
EWP
2.9%

Real Estate

MEUD.L
1.2%
EWP
2.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc

iShares MSCI Spain ETF

Often compared with MEUD.L:
MEUD.L vs. SMEA.LMEUD.L vs. XSX6.LMEUD.L vs. VEUA.LMEUD.L vs. SPYMEUD.L vs. HMEU.LMEUD.L vs. VUAA.LMEUD.L vs. CS51.L
Often compared with EWP:
EWP vs. EWGEWP vs. EWIEWP vs. EPOLEWP vs. EIRLEWP vs. VOOEWP vs. FEZEWP vs. EWQ

Return for Risk

MEUD.L vs. EWP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MEUD.L
MEUD.L Risk / Return Rank: 4646
Overall Rank
MEUD.L Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
MEUD.L Sortino Ratio Rank: 4848
Sortino Ratio Rank
MEUD.L Omega Ratio Rank: 5151
Omega Ratio Rank
MEUD.L Calmar Ratio Rank: 3939
Calmar Ratio Rank
MEUD.L Martin Ratio Rank: 4343
Martin Ratio Rank
EWP
EWP Risk / Return Rank: 5959
Overall Rank
EWP Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
EWP Sortino Ratio Rank: 5656
Sortino Ratio Rank
EWP Omega Ratio Rank: 5555
Omega Ratio Rank
EWP Calmar Ratio Rank: 6565
Calmar Ratio Rank
EWP Martin Ratio Rank: 6363
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.

MEUD.L vs. EWP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc (MEUD.L) and iShares MSCI Spain ETF (EWP). 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.

MEUD.LEWPDifference
Sharpe ratioReturn per unit of total volatility
1.52
2.13

-0.60

Sortino ratioReturn per unit of downside risk
2.15
2.83

-0.67

Omega ratioGain probability vs. loss probability

1.29

1.37

-0.08

Calmar ratioReturn relative to maximum drawdown

1.75

3.43

-1.68

Martin ratioReturn relative to average drawdown

6.35

12.55

-6.20

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MEUD.L vs. EWP - Sharpe Ratio Comparison

The current MEUD.L Sharpe Ratio is 1.52, which is comparable to the EWP Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of MEUD.L and EWP, 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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Sharpe Ratios by Period

MEUD.LEWPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.52

2.13

-0.60

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.60

1.06

-0.46

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.62

0.61

+0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.45

0.24

+0.21

Drawdowns

MEUD.L vs. EWP - Drawdown Comparison

The maximum MEUD.L drawdown since its inception was -28.57%, smaller than the maximum EWP drawdown of -51.00%. Use the drawdown chart below to compare losses from any high point for MEUD.L and EWP.

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Drawdown Indicators

MEUD.LEWPDifference

Max Drawdown

Largest peak-to-trough decline

-28.57%

-51.00%

+22.43%

Max Drawdown (1Y)

Largest decline over 1 year

-10.53%

-10.24%

-0.29%

Max Drawdown (3Y)

Largest decline over 3 years

-12.61%

-10.75%

-1.86%

Max Drawdown (5Y)

Largest decline over 5 years

-17.09%

-18.95%

+1.86%

Max Drawdown (10Y)

Largest decline over 10 years

-28.57%

-39.42%

+10.85%

Current Drawdown

Current decline from peak

-1.71%

-1.71%

0.00%

Average Drawdown

Average peak-to-trough decline

-6.90%

-13.12%

+6.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.91%

2.79%

+0.12%

Volatility

MEUD.L vs. EWP - Volatility Comparison

The current volatility for Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc (MEUD.L) is 3.16%, while iShares MSCI Spain ETF (EWP) has a volatility of 4.18%. This indicates that MEUD.L experiences smaller price fluctuations and is considered to be less risky than EWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MEUD.LEWPDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.16%

4.18%

-1.02%

Volatility (6M)

Calculated over the trailing 6-month period

10.20%

13.81%

-3.61%

Volatility (1Y)

Calculated over the trailing 1-year period

12.17%

16.55%

-4.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.00%

17.19%

-1.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.94%

20.12%

-3.18%

MEUD.L vs. EWP - Expense Ratio Comparison

MEUD.L has a 0.15% expense ratio, which is lower than EWP's 0.50% expense ratio.

Dividends

MEUD.L vs. EWP - Dividend Comparison

MEUD.L has not paid dividends to shareholders, while EWP's dividend yield for the trailing twelve months is around 2.16%.

PositionTTM20252024202320222021202020192018201720162015
EWP
iShares MSCI Spain ETF		2.16%2.27%4.35%2.70%3.07%3.29%2.56%3.72%3.69%2.72%4.65%3.85%
MEUD.L
Lyxor Core STOXX Europe 600 (DR) - 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

MEUD.L and EWP 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.

On fees, MEUD.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MEUD.L is cheaper with a 0.15% expense ratio, compared with 0.50% for EWP.

MEUD.L tracks MSCI Europe NR EUR, while EWP tracks MSCI Spain Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.15% for MEUD.L and 0.50% for EWP.

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