OPEN.L vs. EEUD.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.L) and iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EEUD.L).

OPEN.L and EEUD.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OPEN.L is a passively managed fund by BlackRock that tracks the performance of the MSCI ACWI Value NR USD. It was launched on Sep 7, 2018. EEUD.L is a passively managed fund by BlackRock that tracks the performance of the MSCI Europe NR EUR. It was launched on Mar 6, 2019. Both OPEN.L and EEUD.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

OPEN.L vs. EEUD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.L) and iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EEUD.L). The values are adjusted to include any dividend payments, if applicable.

OPEN.L vs. EEUD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
OPEN.L iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc)	-0.54%	24.08%	7.61%	15.38%	-9.02%	17.34%	10.45%	13.65%
EEUD.L iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)	0.06%	32.58%	1.65%	19.24%	-16.74%	16.11%	7.41%	14.27%

Different Trading Currencies

OPEN.L is traded in USD, while EEUD.L is traded in GBP. To make them comparable, the EEUD.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, OPEN.L achieves a -0.54% return, which is significantly lower than EEUD.L's 0.06% return.

OPEN.L

• 1D: 2.76%
• 1M: -5.34%
• YTD: -0.54%
• 6M: 3.71%
• 1Y: 17.72%
• 3Y*: 13.50%
• 5Y*: 8.40%
• 10Y*: —

EEUD.L

• 1D: 3.03%
• 1M: -5.44%
• YTD: 0.06%
• 6M: 5.38%
• 1Y: 21.23%
• 3Y*: 13.88%
• 5Y*: 8.30%
• 10Y*: —

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

OPEN.L vs. EEUD.L - Expense Ratio Comparison

OPEN.L has a 0.25% expense ratio, which is higher than EEUD.L's 0.12% 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%.

OPEN.L

iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc)

EEUD.L

iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)

Return for Risk

OPEN.L vs. EEUD.L — Risk / Return Rank

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

OPEN.L

OPEN.L Risk / Return Rank: 57
OPEN.L Sharpe Ratio Rank: 59
OPEN.L Sortino Ratio Rank: 55
OPEN.L Omega Ratio Rank: 60
OPEN.L Calmar Ratio Rank: 58
OPEN.L Martin Ratio Rank: 54

EEUD.L

EEUD.L Risk / Return Rank: 63
EEUD.L Sharpe Ratio Rank: 68
EEUD.L Sortino Ratio Rank: 63
EEUD.L Omega Ratio Rank: 66
EEUD.L Calmar Ratio Rank: 59
EEUD.L Martin Ratio Rank: 59

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.

OPEN.L vs. EEUD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.L) and iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EEUD.L). 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.

	OPEN.L	EEUD.L	Difference
Sharpe ratio Return per unit of total volatility	1.11	1.25	-0.14
Sortino ratio Return per unit of downside risk	1.51	1.68	-0.18
Omega ratio Gain probability vs. loss probability	1.23	1.25	-0.02
Calmar ratio Return relative to maximum drawdown	1.65	1.67	-0.03
Martin ratio Return relative to average drawdown	5.78	6.32	-0.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OPEN.L vs. EEUD.L - Sharpe Ratio Comparison

The current OPEN.L Sharpe Ratio is 1.11, which is comparable to the EEUD.L Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of OPEN.L and EEUD.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	OPEN.L	EEUD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	1.25	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.48	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.51	+0.05

Correlation

The correlation between OPEN.L and EEUD.L is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

OPEN.L vs. EEUD.L - Dividend Comparison

OPEN.L has not paid dividends to shareholders, while EEUD.L's dividend yield for the trailing twelve months is around 2.51%.

	TTM	2025	2024	2023	2022	2021	2020	2019
OPEN.L iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EEUD.L iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)	2.51%	2.54%	2.94%	2.76%	2.92%	2.30%	1.92%	2.72%

Drawdowns

OPEN.L vs. EEUD.L - Drawdown Comparison

The maximum OPEN.L drawdown since its inception was -33.45%, roughly equal to the maximum EEUD.L drawdown of -34.92%. Use the drawdown chart below to compare losses from any high point for OPEN.L and EEUD.L.

Drawdown Indicators

	OPEN.L	EEUD.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.45%	-27.37%	-6.08%
Max Drawdown (1Y) Largest decline over 1 year	-12.40%	-11.10%	-1.30%
Max Drawdown (5Y) Largest decline over 5 years	-22.59%	-18.30%	-4.29%
Current Drawdown Current decline from peak	-7.50%	-6.97%	-0.53%
Average Drawdown Average peak-to-trough decline	-5.27%	-4.06%	-1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	2.92%	+0.06%

Volatility

OPEN.L vs. EEUD.L - Volatility Comparison

The current volatility for iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.L) is 5.79%, while iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EEUD.L) has a volatility of 6.41%. This indicates that OPEN.L experiences smaller price fluctuations and is considered to be less risky than EEUD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OPEN.L	EEUD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	6.41%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	9.49%	10.69%	-1.20%
Volatility (1Y) Calculated over the trailing 1-year period	15.91%	16.97%	-1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.23%	17.36%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	18.62%	-1.68%