VGK vs. IEUX.AS
VGK (Vanguard FTSE Europe ETF) and IEUX.AS (iShares MSCI Europe ex-UK UCITS ETF) are both Europe Equities funds - VGK tracks the FTSE Developed Europe All Cap Index while IEUX.AS tracks the MSCI Europe Ex UK NR EUR. Both are passively managed. Over the past 10 years, VGK returned 9.26%/yr vs 9.56%/yr for IEUX.AS. A 0.74 correlation means they provide meaningful diversification when combined. VGK charges 0.06%/yr vs 0.40%/yr for IEUX.AS.
Performance
VGK vs. IEUX.AS - Performance Comparison
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Different Trading Currencies
VGK is traded in USD, while IEUX.AS is traded in EUR. To make them comparable, the IEUX.AS values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VGK achieves a 5.62% return, which is significantly higher than IEUX.AS's 5.12% return. Both investments have delivered pretty close results over the past 10 years, with VGK having a 9.26% annualized return and IEUX.AS not far ahead at 9.56%.
VGK
- 1D
- -1.19%
- 1M
- 2.79%
- YTD
- 5.62%
- 6M
- 8.66%
- 1Y
- 18.01%
- 3Y*
- 16.32%
- 5Y*
- 8.24%
- 10Y*
- 9.26%
IEUX.AS
- 1D
- -1.08%
- 1M
- 3.89%
- YTD
- 5.12%
- 6M
- 9.13%
- 1Y
- 17.08%
- 3Y*
- 15.82%
- 5Y*
- 7.86%
- 10Y*
- 9.56%
VGK vs. IEUX.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGK Vanguard FTSE Europe ETF | 5.62% | 35.83% | 1.88% | 20.19% | -15.98% | 16.89% | 5.43% | 24.85% | -14.89% | 26.98% |
IEUX.AS iShares MSCI Europe ex-UK UCITS ETF | 5.12% | 35.61% | 0.87% | 20.93% | -17.57% | 16.48% | 10.67% | 24.05% | -14.39% | 27.27% |
Correlation
The correlation between VGK and IEUX.AS is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since May 23, 2007 | 0.74 |
The correlation between VGK and IEUX.AS has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.
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Return for Risk
VGK vs. IEUX.AS — Risk / Return Rank
VGK
IEUX.AS
VGK vs. IEUX.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Europe ETF (VGK) and iShares MSCI Europe ex-UK UCITS ETF (IEUX.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.
| VGK | IEUX.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.20 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 1.42 | +0.08 |
| Martin ratioReturn relative to average drawdown | 5.56 | 5.02 | +0.55 |
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
| VGK | IEUX.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 1.09 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.43 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.52 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.16 | +0.11 |
Drawdowns
VGK vs. IEUX.AS - Drawdown Comparison
The maximum VGK drawdown since its inception was -63.61%, roughly equal to the maximum IEUX.AS drawdown of -64.08%. Use the drawdown chart below to compare losses from any high point for VGK and IEUX.AS.
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Drawdown Indicators
| VGK | IEUX.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.61% | -64.08% | +0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -12.09% | -11.88% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | -15.15% | +0.84% |
Max Drawdown (5Y)Largest decline over 5 years | -32.74% | -33.98% | +1.24% |
Max Drawdown (10Y)Largest decline over 10 years | -37.24% | -34.16% | -3.08% |
Current DrawdownCurrent decline from peak | -2.41% | -2.33% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -13.34% | -18.72% | +5.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 3.38% | -0.13% |
Volatility
VGK vs. IEUX.AS - Volatility Comparison
Vanguard FTSE Europe ETF (VGK) and iShares MSCI Europe ex-UK UCITS ETF (IEUX.AS) have volatilities of 5.73% and 5.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGK | IEUX.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.73% | 5.55% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 12.78% | 12.85% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.40% | 15.52% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.90% | 18.33% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 18.02% | +0.94% |
VGK vs. IEUX.AS - Expense Ratio Comparison
VGK has a 0.06% expense ratio, which is lower than IEUX.AS's 0.40% expense ratio.
Dividends
VGK vs. IEUX.AS - Dividend Comparison
VGK's dividend yield for the trailing twelve months is around 2.82%, more than IEUX.AS's 2.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEUX.AS iShares MSCI Europe ex-UK UCITS ETF | 2.00% | 2.15% | 2.36% | 2.37% | 2.34% | 1.62% | 1.43% | 2.33% | 2.65% | 2.27% | 2.31% | 2.16% |
VGK Vanguard FTSE Europe ETF | 2.82% | 2.86% | 3.61% | 3.15% | 3.25% | 3.05% | 2.11% | 3.27% | 3.95% | 2.70% | 3.52% | 3.25% |
Frequently Asked Questions
VGK and IEUX.AS have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGK is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGK is cheaper with a 0.06% expense ratio, compared with 0.40% for IEUX.AS.
VGK tracks FTSE Developed Europe All Cap Index, while IEUX.AS tracks MSCI Europe Ex UK NR EUR. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.06% for VGK and 0.40% for IEUX.AS.
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