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SPEU vs. IOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPEU vs. IOO

Last updated Jun 23, 2026

SPEU (SPDR Portfolio Europe ETF) and IOO (iShares Global 100 ETF) are both exchange-traded funds - SPEU is a Europe Equities fund tracking the STOXX Europe Total Market Index, while IOO is a Global Equities fund tracking the S&P Global 100 Index (Net). Both are passively managed. Over the past 10 years, SPEU returned 10.26%/yr vs 16.79%/yr for IOO. Their correlation of 0.82 suggests significant overlap in exposure. SPEU charges 0.07%/yr vs 0.40%/yr for IOO.

Performance

SPEU vs. IOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Europe ETF (SPEU) and iShares Global 100 ETF (IOO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPEU achieves a 7.07% return, which is significantly lower than IOO's 8.90% return. Over the past 10 years, SPEU has underperformed IOO with an annualized return of 10.26%, while IOO has yielded a comparatively higher 16.79% annualized return.

SPEU

1D
0.04%
1M
0.91%
YTD
7.07%
6M
7.79%
1Y
21.32%
3Y*
16.98%
5Y*
8.88%
10Y*
10.26%

IOO

1D
-1.37%
1M
-2.56%
YTD
8.90%
6M
9.44%
1Y
34.19%
3Y*
23.69%
5Y*
15.86%
10Y*
16.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPEU vs. IOO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPEU
SPDR Portfolio Europe ETF		7.07%35.80%1.93%19.85%-15.97%16.20%6.35%26.15%-13.79%23.80%
IOO
iShares Global 100 ETF		8.90%27.02%26.54%27.71%-16.34%26.03%18.61%30.01%-6.22%23.56%

Correlation

The correlation between SPEU and IOO is 0.74, 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

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.68

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

0.75

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

0.79

Correlation (All Time)
Calculated using the full available price history since Oct 21, 2002

0.82

The correlation between SPEU and IOO shifts across timeframes, from 0.68 (3 years) to 0.82 (all time), reflecting how their relationship changes across market environments.

SPEU vs. IOO - Sectors Allocation Comparison

Sectors
SPEU
IOO

Financial Services

23.1%
9.2%

Industrials

20.0%
4.8%

Healthcare

11.2%
8.4%

Technology

10.1%
47.0%

Consumer Defensive

7.7%
5.6%

Consumer Cyclical

6.5%
8.4%

Basic Materials

6.0%
1.7%

Energy

5.5%
3.6%

Utilities

4.8%
0.5%

Communication Services

3.4%
10.8%

Real Estate

1.7%
0.2%

Financial Services

SPEU
23.1%
IOO
9.2%

Industrials

SPEU
20.0%
IOO
4.8%

Healthcare

SPEU
11.2%
IOO
8.4%

Technology

SPEU
10.1%
IOO
47.0%

Consumer Defensive

SPEU
7.7%
IOO
5.6%

Consumer Cyclical

SPEU
6.5%
IOO
8.4%

Basic Materials

SPEU
6.0%
IOO
1.7%

Energy

SPEU
5.5%
IOO
3.6%

Utilities

SPEU
4.8%
IOO
0.5%

Communication Services

SPEU
3.4%
IOO
10.8%

Real Estate

SPEU
1.7%
IOO
0.2%

Compare stocks, funds, or ETFs

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

SPDR Portfolio Europe ETF

iShares Global 100 ETF

Often compared with SPEU:
SPEU vs. VGKSPEU vs. FLEESPEU vs. IEVSPEU vs. VXUSSPEU vs. GMFSPEU vs. IEUSSPEU vs. VOO
Often compared with IOO:
IOO vs. IVVIOO vs. SPYIOO vs. NDQ.AXIOO vs. OEFIOO vs. NDAQIOO vs. VGTIOO vs. MOAT

Return for Risk

SPEU vs. IOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPEU
SPEU Risk / Return Rank: 3939
Overall Rank
SPEU Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
SPEU Sortino Ratio Rank: 3939
Sortino Ratio Rank
SPEU Omega Ratio Rank: 3838
Omega Ratio Rank
SPEU Calmar Ratio Rank: 3636
Calmar Ratio Rank
SPEU Martin Ratio Rank: 4141
Martin Ratio Rank
IOO
IOO Risk / Return Rank: 7676
Overall Rank
IOO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
IOO Sortino Ratio Rank: 7676
Sortino Ratio Rank
IOO Omega Ratio Rank: 7676
Omega Ratio Rank
IOO Calmar Ratio Rank: 7171
Calmar Ratio Rank
IOO Martin Ratio Rank: 7979
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.

SPEU vs. IOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Europe ETF (SPEU) and iShares Global 100 ETF (IOO). 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.

SPEUIOODifference
Sharpe ratioReturn per unit of total volatility
1.36
2.42

-1.06

Sortino ratioReturn per unit of downside risk
1.98
3.26

-1.28

Omega ratioGain probability vs. loss probability

1.24

1.43

-0.18

Calmar ratioReturn relative to maximum drawdown

1.77

3.46

-1.69

Martin ratioReturn relative to average drawdown

6.49

15.01

-8.52

SPEU vs. IOO - Sharpe Ratio Comparison

The current SPEU Sharpe Ratio is 1.36, which is lower than the IOO Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of SPEU and IOO, 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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Drawdowns

SPEU vs. IOO - Drawdown Comparison

The maximum SPEU drawdown since its inception was -62.45%, which is greater than IOO's maximum drawdown of -55.85%. Use the drawdown chart below to compare losses from any high point for SPEU and IOO.

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Drawdown Indicators

SPEUIOODifference

Max Drawdown

Largest peak-to-trough decline

-62.45%

-55.85%

-6.60%

Max Drawdown (1Y)

Largest decline over 1 year

-12.09%

-9.94%

-2.15%

Max Drawdown (3Y)

Largest decline over 3 years

-14.17%

-19.19%

+5.02%

Max Drawdown (5Y)

Largest decline over 5 years

-32.70%

-23.52%

-9.18%

Max Drawdown (10Y)

Largest decline over 10 years

-36.83%

-31.43%

-5.40%

Current Drawdown

Current decline from peak

-0.96%

-4.28%

+3.32%

Average Drawdown

Average peak-to-trough decline

-13.82%

-11.25%

-2.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.29%

2.28%

+1.01%

Volatility

SPEU vs. IOO - Volatility Comparison

The current volatility for SPDR Portfolio Europe ETF (SPEU) is 4.84%, while iShares Global 100 ETF (IOO) has a volatility of 5.15%. This indicates that SPEU experiences smaller price fluctuations and is considered to be less risky than IOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPEUIOODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.84%

5.15%

-0.31%

Volatility (6M)

Calculated over the trailing 6-month period

13.37%

11.44%

+1.93%

Volatility (1Y)

Calculated over the trailing 1-year period

15.80%

14.21%

+1.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.57%

17.15%

+0.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.46%

17.82%

+0.64%

SPEU vs. IOO - Expense Ratio Comparison

SPEU has a 0.07% expense ratio, which is lower than IOO's 0.40% expense ratio.

Dividends

SPEU vs. IOO - Dividend Comparison

SPEU's dividend yield for the trailing twelve months is around 5.04%, more than IOO's 0.85% yield.

PositionTTM20252024202320222021202020192018201720162015
IOO
iShares Global 100 ETF		0.85%0.92%1.08%1.49%2.00%1.53%1.49%2.02%2.54%2.23%2.75%2.89%
SPEU
SPDR Portfolio Europe ETF		5.04%3.47%3.29%2.91%3.08%2.67%2.29%3.19%3.99%2.82%3.66%3.62%

Frequently Asked Questions

SPEU and IOO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IOO has higher volatility (5.15%) compared to SPEU (4.84%). In terms of maximum drawdown, SPEU dropped -62.45% vs IOO's -55.85%.

On 10-year performance, IOO leads with 16.79% vs 10.26% for SPEU. On fees, SPEU is cheaper at 0.07% per year. On volatility, SPEU has been the lower-risk option at 4.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IOO has performed better with a 16.79% return vs 10.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPEU is cheaper with a 0.07% expense ratio, compared with 0.40% for IOO.

SPEU has the higher dividend yield at 5.04%, compared with 0.85% for IOO.

SPEU is categorized as Europe Equities, while IOO is Global Equities. SPEU tracks STOXX Europe Total Market Index, while IOO tracks S&P Global 100 Index (Net). They also come from different issuers: State Street and iShares. Their fees differ too: 0.07% for SPEU and 0.40% for IOO.

IOO currently has the higher Sharpe Ratio (2.42 vs 1.36), 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.

Portfolio Optimizer

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