PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
UPM.HE vs. EFNL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UPM.HE vs. EFNL

Last updated Aug 1, 2026
Documentation

UPM.HE (UPM-Kymmene Oyj) is a stock, while EFNL (iShares MSCI Finland ETF) is Europe Equities fund tracking the MSCI Finland IMI 25/50 Index. Over the past 10 years, UPM.HE returned 7.42%/yr vs 8.41%/yr for EFNL. Their 0.55 correlation means they have sometimes moved together and sometimes differently.

Performance

UPM.HE vs. EFNL - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UPM-Kymmene Oyj (UPM.HE) and iShares MSCI Finland ETF (EFNL). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

UPM.HE is traded in EUR, while EFNL is traded in USD. To make them comparable, the EFNL values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, UPM.HE achieves a -2.40% return, which is significantly lower than EFNL's 11.31% return. Over the past 10 years, UPM.HE has underperformed EFNL with an annualized return of 7.42%, while EFNL has yielded a comparatively higher 8.41% annualized return.

UPM.HE

1D
0.04%
1M
2.08%
6M
3.53%
YTD
-2.40%
1Y
11.08%
3Y*
-2.69%
5Y*
-2.96%
10Y*
7.42%
ALL TIME*
6.45%

EFNL

1D
-0.10%
1M
-1.38%
6M
9.16%
YTD
11.31%
1Y
30.72%
3Y*
16.67%
5Y*
4.59%
10Y*
8.41%
ALL TIME*
9.55%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EFNL

iShares MSCI Finland ETF
€455.65K€2.44M€3.38M

UPM.HE

UPM-Kymmene Oyj
€36.76M€32.59M€29.65M

UPM.HE vs. EFNL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UPM.HE
UPM-Kymmene Oyj		-2.40%-0.70%-18.00%2.38%8.87%14.34%3.96%46.28%-11.11%15.80%
EFNL
iShares MSCI Finland ETF		11.31%35.37%0.97%-3.11%-12.16%18.76%10.28%16.21%-2.49%8.56%

Correlation

The correlation between UPM.HE and EFNL is 0.41, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.41

Correlation (3Y)
Balances recent behavior with more history.

0.50

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.51

Correlation (10Y)
Provides a long-term view across more market conditions.

0.54

Correlation (All Time)
Calculated using the full available price history since Jan 26, 2012

0.55

The correlation between UPM.HE and EFNL shifts across timeframes, from 0.41 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

UPM-Kymmene Oyj

iShares MSCI Finland ETF

Often compared with UPM.HE:
UPM.HE vs. AVYUPM.HE vs. ELISA.HEUPM.HE vs. KESKOA.HEUPM.HE vs. KCR.HEUPM.HE vs. METSO.HEUPM.HE vs. NDA-FI.HEUPM.HE vs. SAMPO.HE
Often compared with EFNL:
EFNL vs. FNDAEFNL vs. CN1G.DEEFNL vs. EDENEFNL vs. EIRLEFNL vs. VFMFEFNL vs. VOOEFNL vs. VTI

Return for Risk

UPM.HE vs. EFNL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
UPM.HE
UPM.HE Risk / Return Rank: 5656
Overall Rank
UPM.HE Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
UPM.HE Sortino Ratio Rank: 5252
Sortino Ratio Rank
UPM.HE Omega Ratio Rank: 5151
Omega Ratio Rank
UPM.HE Calmar Ratio Rank: 5858
Calmar Ratio Rank
UPM.HE Martin Ratio Rank: 5959
Martin Ratio Rank
EFNL
EFNL Risk / Return Rank: 6666
Overall Rank
EFNL Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
EFNL Sortino Ratio Rank: 6565
Sortino Ratio Rank
EFNL Omega Ratio Rank: 6464
Omega Ratio Rank
EFNL Calmar Ratio Rank: 7272
Calmar Ratio Rank
EFNL Martin Ratio Rank: 6161
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UPM.HE vs. EFNL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UPM-Kymmene Oyj (UPM.HE) and iShares MSCI Finland ETF (EFNL). 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.

UPM.HEEFNLDifference
Sharpe ratioReturn per unit of total volatility
0.41
1.68

-1.27

Sortino ratioReturn per unit of downside risk
0.74
2.26

-1.52

Omega ratioGain probability vs. loss probability

1.09

1.30

-0.20

Calmar ratioReturn relative to maximum drawdown

0.57

2.66

-2.10

Martin ratioReturn relative to average drawdown

1.35

8.55

-7.20

UPM.HE vs. EFNL - Sharpe Ratio Comparison

The current UPM.HE Sharpe Ratio is 0.41, which is lower than the EFNL Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of UPM.HE and EFNL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

UPM.HE vs. EFNL - Drawdown Comparison

The maximum UPM.HE drawdown since its inception was -74.52%, which is greater than EFNL's maximum drawdown of -35.74%. Use the drawdown chart below to compare losses from any high point for UPM.HE and EFNL.

Loading charts...

Drawdown Indicators

UPM.HEEFNLDifference

Max Drawdown

Largest peak-to-trough decline

-74.52%

-35.74%

-38.78%

Max Drawdown (1Y)

Largest decline over 1 year

-17.59%

-11.02%

-6.57%

Max Drawdown (3Y)

Largest decline over 3 years

-35.38%

-15.93%

-19.45%

Max Drawdown (5Y)

Largest decline over 5 years

-35.38%

-30.05%

-5.33%

Max Drawdown (10Y)

Largest decline over 10 years

-37.15%

-35.74%

-1.41%

Current Drawdown

Current decline from peak

-26.09%

-9.58%

-16.51%

Average Drawdown

Average peak-to-trough decline

-20.21%

-8.16%

-12.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.36%

3.43%

+3.93%

Volatility

UPM.HE vs. EFNL - Volatility Comparison

UPM-Kymmene Oyj (UPM.HE) has a higher volatility of 10.09% compared to iShares MSCI Finland ETF (EFNL) at 5.40%. This indicates that UPM.HE's price experiences larger fluctuations and is considered to be riskier than EFNL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

UPM.HEEFNLDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.09%

5.40%

+4.69%

Volatility (6M)

Calculated over the trailing 6-month period

18.60%

14.83%

+3.77%

Volatility (1Y)

Calculated over the trailing 1-year period

24.59%

17.46%

+7.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.94%

16.85%

+8.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.77%

17.97%

+7.80%

Dividends

UPM.HE vs. EFNL - Dividend Comparison

UPM.HE's dividend yield for the trailing twelve months is around 6.38%, more than EFNL's 1.04% yield.

PositionTTM20252024202320222021202020192018201720162015
EFNL
iShares MSCI Finland ETF		1.04%3.40%5.05%4.31%5.94%2.29%2.94%5.70%3.83%3.30%2.40%1.57%
UPM.HE
UPM-Kymmene Oyj		6.38%6.05%5.65%4.40%3.72%3.89%4.27%4.21%5.19%3.67%3.21%4.06%

Frequently Asked Questions

UPM.HE and EFNL have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Portfolio Optimizer

Find the right allocation for UPM.HE and EFNL

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer