XEML vs. IEUR

Last updated Jun 6, 2026

XEML (Xtrackers Europe Market Leaders ETF) and IEUR (iShares Core MSCI Europe ETF) are both Europe Equities funds - XEML tracks the STOXX Europe Total Market Leaders Index while IEUR tracks the MSCI Europe Investable Market Index. Both are passively managed. Their correlation of 0.94 suggests significant overlap in exposure. XEML charges 0.35%/yr vs 0.09%/yr for IEUR.

Performance

XEML vs. IEUR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Europe Market Leaders ETF (XEML) and iShares Core MSCI Europe ETF (IEUR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XEML achieves a 1.49% return, which is significantly lower than IEUR's 4.76% return.

XEML

• 1D: -1.83%
• 1M: -1.97%
• YTD: 1.49%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IEUR

• 1D: -2.00%
• 1M: -2.25%
• YTD: 4.76%
• 6M: 7.75%
• 1Y: 15.55%
• 3Y*: 15.86%
• 5Y*: 7.85%
• 10Y*: 8.94%

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

XEML vs. IEUR - Yearly Performance Comparison

	2026 (YTD)	2025
XEML Xtrackers Europe Market Leaders ETF	1.49%	-0.42%
IEUR iShares Core MSCI Europe ETF	4.76%	0.11%

Correlation

The correlation between XEML and IEUR is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 24, 2025	0.94

Return for Risk

XEML vs. IEUR — Risk / Return Rank

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

IEUR

IEUR Risk / Return Rank: 29
IEUR Sharpe Ratio Rank: 29
IEUR Sortino Ratio Rank: 28
IEUR Omega Ratio Rank: 28
IEUR Calmar Ratio Rank: 27
IEUR Martin Ratio Rank: 33

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.

XEML vs. IEUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Europe Market Leaders ETF (XEML) and iShares Core MSCI Europe ETF (IEUR). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	XEML	IEUR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.01	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.35	-0.22

Drawdowns

XEML vs. IEUR - Drawdown Comparison

The maximum XEML drawdown since its inception was -13.49%, smaller than the maximum IEUR drawdown of -36.96%. Use the drawdown chart below to compare losses from any high point for XEML and IEUR.

Drawdown Indicators

	XEML	IEUR	Difference
Max Drawdown Largest peak-to-trough decline	-13.49%	-36.96%	+23.47%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.04%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.96%	—
Current Drawdown Current decline from peak	-6.81%	-3.11%	-3.70%
Average Drawdown Average peak-to-trough decline	-4.93%	-8.22%	+3.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.21%	—

Volatility

Volatility by Period

	XEML	IEUR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.24%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.95%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.83%	15.46%	+4.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.83%	17.75%	+2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.83%	18.69%	+1.14%

XEML vs. IEUR - Expense Ratio Comparison

XEML has a 0.35% expense ratio, which is higher than IEUR's 0.09% expense ratio.

Dividends

XEML vs. IEUR - Dividend Comparison

XEML's dividend yield for the trailing twelve months is around 0.10%, less than IEUR's 2.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEUR iShares Core MSCI Europe ETF	2.84%	2.97%	3.54%	3.17%	3.05%	2.88%	2.13%	3.26%	3.76%	2.64%	3.19%	2.79%
XEML Xtrackers Europe Market Leaders ETF	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XEML and IEUR in my portfolio?

With a correlation of 0.94, XEML and IEUR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XEML or IEUR?

On fees, IEUR is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XEML or IEUR?

IEUR is cheaper with a 0.09% expense ratio, compared with 0.35% for XEML.

Which ETF pays a higher dividend yield, XEML or IEUR?

IEUR has the higher dividend yield at 2.84%, compared with 0.10% for XEML.

What is the main difference between XEML and IEUR?

XEML tracks STOXX Europe Total Market Leaders Index, while IEUR tracks MSCI Europe Investable Market Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.35% for XEML and 0.09% for IEUR.