SKUK.AS vs. XUSE.AS
SKUK.AS (iShares $ Sukuk UCITS ETF USD (Dist)) and XUSE.AS (iShares MSCI World ex-USA UCITS ETF) are both exchange-traded funds - SKUK.AS is a Emerging Markets Bonds fund tracking the J.P. Morgan EM Aggregate Sukuk Index, while XUSE.AS is a Global Equities fund tracking the MSCI World ex USA Index. Both are passively managed. Over the past year, SKUK.AS returned 4.54% vs 22.24% for XUSE.AS. At a 0.34 correlation, their price movements are largely independent. SKUK.AS charges 0.40%/yr vs 0.25%/yr for XUSE.AS.
Performance
SKUK.AS vs. XUSE.AS - Performance Comparison
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Returns By Period
In the year-to-date period, SKUK.AS achieves a 0.16% return, which is significantly lower than XUSE.AS's 8.38% return.
SKUK.AS
- 1D
- 0.34%
- 1M
- 0.32%
- YTD
- 0.16%
- 6M
- 0.69%
- 1Y
- 4.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XUSE.AS
- 1D
- 0.27%
- 1M
- 0.21%
- YTD
- 8.38%
- 6M
- 11.50%
- 1Y
- 22.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SKUK.AS vs. XUSE.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SKUK.AS iShares $ Sukuk UCITS ETF USD (Dist) | 0.16% | 4.70% |
XUSE.AS iShares MSCI World ex-USA UCITS ETF | 8.38% | 25.69% |
Correlation
The correlation between SKUK.AS and XUSE.AS is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2025 | 0.34 |
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Return for Risk
SKUK.AS vs. XUSE.AS — Risk / Return Rank
SKUK.AS
XUSE.AS
SKUK.AS vs. XUSE.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Sukuk UCITS ETF USD (Dist) (SKUK.AS) and iShares MSCI World ex-USA UCITS ETF (XUSE.AS). 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.
| SKUK.AS | XUSE.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.28 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 2.11 | -0.72 |
| Martin ratioReturn relative to average drawdown | 5.33 | 7.72 | -2.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SKUK.AS | XUSE.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | 1.52 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.43 | 1.56 | -0.13 |
Drawdowns
SKUK.AS vs. XUSE.AS - Drawdown Comparison
The maximum SKUK.AS drawdown since its inception was -3.33%, smaller than the maximum XUSE.AS drawdown of -12.97%. Use the drawdown chart below to compare losses from any high point for SKUK.AS and XUSE.AS.
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Drawdown Indicators
| SKUK.AS | XUSE.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.33% | -12.97% | +9.64% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -10.54% | +7.21% |
Current DrawdownCurrent decline from peak | -0.61% | -1.23% | +0.62% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -1.72% | +1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 2.90% | -2.03% |
Volatility
SKUK.AS vs. XUSE.AS - Volatility Comparison
The current volatility for iShares $ Sukuk UCITS ETF USD (Dist) (SKUK.AS) is 1.24%, while iShares MSCI World ex-USA UCITS ETF (XUSE.AS) has a volatility of 4.32%. This indicates that SKUK.AS experiences smaller price fluctuations and is considered to be less risky than XUSE.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SKUK.AS | XUSE.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 4.32% | -3.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 12.35% | -9.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.19% | 14.62% | -11.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.53% | 16.45% | -12.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.53% | 16.45% | -12.92% |
SKUK.AS vs. XUSE.AS - Expense Ratio Comparison
SKUK.AS has a 0.40% expense ratio, which is higher than XUSE.AS's 0.25% expense ratio.
Dividends
SKUK.AS vs. XUSE.AS - Dividend Comparison
SKUK.AS's dividend yield for the trailing twelve months is around 4.80%, while XUSE.AS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
SKUK.AS iShares $ Sukuk UCITS ETF USD (Dist) | 4.80% | 2.41% | 4.00% |
XUSE.AS iShares MSCI World ex-USA UCITS ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SKUK.AS and XUSE.AS have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUSE.AS is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUSE.AS is cheaper with a 0.25% expense ratio, compared with 0.40% for SKUK.AS.
SKUK.AS is categorized as Emerging Markets Bonds, while XUSE.AS is Global Equities. SKUK.AS tracks J.P. Morgan EM Aggregate Sukuk Index, while XUSE.AS tracks MSCI World ex USA Index. Their fees differ too: 0.40% for SKUK.AS and 0.25% for XUSE.AS.
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