PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XEU.TO vs. FEZ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEU.TO vs. FEZ

Last updated Jun 4, 2026

XEU.TO (iShares MSCI Europe IMI Index ETF) and FEZ (SPDR EURO STOXX 50 ETF) are both Europe Equities funds - XEU.TO tracks the Morningstar Eur GR CAD while FEZ tracks the EURO STOXX 50 Index. Both are passively managed. Over the past 10 years, XEU.TO returned 9.77%/yr vs 11.07%/yr for FEZ. A 0.77 correlation means they provide meaningful diversification when combined. XEU.TO charges 0.28%/yr vs 0.29%/yr for FEZ.

Performance

XEU.TO vs. FEZ - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Europe IMI Index ETF (XEU.TO) and SPDR EURO STOXX 50 ETF (FEZ). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

XEU.TO is traded in CAD, while FEZ is traded in USD. To make them comparable, the FEZ values have been converted to CAD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with XEU.TO having a 6.82% return and FEZ slightly lower at 6.52%. Over the past 10 years, XEU.TO has underperformed FEZ with an annualized return of 9.77%, while FEZ has yielded a comparatively higher 11.07% annualized return.

XEU.TO

1D
-0.82%
1M
5.05%
YTD
6.82%
6M
8.23%
1Y
18.70%
3Y*
17.08%
5Y*
10.84%
10Y*
9.77%

FEZ

1D
-0.85%
1M
7.31%
YTD
6.52%
6M
6.45%
1Y
18.42%
3Y*
19.09%
5Y*
13.04%
10Y*
11.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEU.TO vs. FEZ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XEU.TO
iShares MSCI Europe IMI Index ETF		6.82%29.40%9.36%17.36%-10.48%16.36%3.16%18.30%-8.11%18.48%
FEZ
SPDR EURO STOXX 50 ETF		6.52%31.49%12.47%24.36%-8.16%13.81%3.07%19.85%-8.72%16.86%

Correlation

The correlation between XEU.TO and FEZ is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.87

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

0.84

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

0.84

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

0.84

Correlation (All Time)
Calculated using the full available price history since Apr 24, 2014

0.77

The correlation between XEU.TO and FEZ shifts across timeframes, from 0.77 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.

XEU.TO vs. FEZ - Sectors Allocation Comparison

Sectors
XEU.TO
FEZ

Financial Services

22.5%
23.4%

Industrials

15.6%
20.1%

Healthcare

10.5%
5.2%

Technology

8.4%
17.9%

Consumer Defensive

8.0%
5.4%

Consumer Cyclical

6.5%
8.6%

Basic Materials

5.3%
3.5%

Energy

4.0%
5.0%

Utilities

3.5%
4.6%

Communication Services

3.3%
3.5%

Real Estate

1.4%

-

Financial Services

XEU.TO
22.5%
FEZ
23.4%

Industrials

XEU.TO
15.6%
FEZ
20.1%

Healthcare

XEU.TO
10.5%
FEZ
5.2%

Technology

XEU.TO
8.4%
FEZ
17.9%

Consumer Defensive

XEU.TO
8.0%
FEZ
5.4%

Consumer Cyclical

XEU.TO
6.5%
FEZ
8.6%

Basic Materials

XEU.TO
5.3%
FEZ
3.5%

Energy

XEU.TO
4.0%
FEZ
5.0%

Utilities

XEU.TO
3.5%
FEZ
4.6%

Communication Services

XEU.TO
3.3%
FEZ
3.5%

Real Estate

XEU.TO
1.4%
FEZ

-

Compare stocks, funds, or ETFs

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

iShares MSCI Europe IMI Index ETF

SPDR EURO STOXX 50 ETF

Often compared with XEU.TO:
XEU.TO vs. XEH.TOXEU.TO vs. XEF.TOXEU.TO vs. VE.TOXEU.TO vs. VEAXEU.TO vs. HXS.TOXEU.TO vs. XUS.TOXEU.TO vs. XDIV.TO
Often compared with FEZ:
FEZ vs. VGKFEZ vs. IEURFEZ vs. EZUFEZ vs. IEVFEZ vs. VOOFEZ vs. EWQFEZ vs. EWN

Return for Risk

XEU.TO vs. FEZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEU.TO
XEU.TO Risk / Return Rank: 3535
Overall Rank
XEU.TO Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
XEU.TO Sortino Ratio Rank: 3636
Sortino Ratio Rank
XEU.TO Omega Ratio Rank: 3636
Omega Ratio Rank
XEU.TO Calmar Ratio Rank: 3232
Calmar Ratio Rank
XEU.TO Martin Ratio Rank: 3838
Martin Ratio Rank
FEZ
FEZ Risk / Return Rank: 2626
Overall Rank
FEZ Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
FEZ Sortino Ratio Rank: 2626
Sortino Ratio Rank
FEZ Omega Ratio Rank: 2525
Omega Ratio Rank
FEZ Calmar Ratio Rank: 2626
Calmar Ratio Rank
FEZ Martin Ratio Rank: 2929
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.

XEU.TO vs. FEZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe IMI Index ETF (XEU.TO) and SPDR EURO STOXX 50 ETF (FEZ). 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.

XEU.TOFEZDifference
Sharpe ratioReturn per unit of total volatility
1.32
1.08

+0.24

Sortino ratioReturn per unit of downside risk
1.90
1.60

+0.30

Omega ratioGain probability vs. loss probability

1.24

1.20

+0.04

Calmar ratioReturn relative to maximum drawdown

1.57

1.40

+0.17

Martin ratioReturn relative to average drawdown

6.06

4.90

+1.16

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XEU.TO vs. FEZ - Sharpe Ratio Comparison

The current XEU.TO Sharpe Ratio is 1.32, which is comparable to the FEZ Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of XEU.TO and FEZ, 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...

Sharpe Ratios by Period

XEU.TOFEZDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.32

1.08

+0.24

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.73

+0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

0.60

+0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

0.44

+0.09

Drawdowns

XEU.TO vs. FEZ - Drawdown Comparison

The maximum XEU.TO drawdown since its inception was -32.02%, smaller than the maximum FEZ drawdown of -36.16%. Use the drawdown chart below to compare losses from any high point for XEU.TO and FEZ.

Loading charts...

Drawdown Indicators

XEU.TOFEZDifference

Max Drawdown

Largest peak-to-trough decline

-32.02%

-36.16%

+4.14%

Max Drawdown (1Y)

Largest decline over 1 year

-11.94%

-13.18%

+1.24%

Max Drawdown (3Y)

Largest decline over 3 years

-14.62%

-16.20%

+1.58%

Max Drawdown (5Y)

Largest decline over 5 years

-26.96%

-28.44%

+1.48%

Max Drawdown (10Y)

Largest decline over 10 years

-32.02%

-32.71%

+0.69%

Current Drawdown

Current decline from peak

-1.74%

-0.85%

-0.89%

Average Drawdown

Average peak-to-trough decline

-5.38%

-8.46%

+3.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.09%

3.77%

-0.68%

Volatility

XEU.TO vs. FEZ - Volatility Comparison

The current volatility for iShares MSCI Europe IMI Index ETF (XEU.TO) is 5.16%, while SPDR EURO STOXX 50 ETF (FEZ) has a volatility of 6.53%. This indicates that XEU.TO experiences smaller price fluctuations and is considered to be less risky than FEZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XEU.TOFEZDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.16%

6.53%

-1.37%

Volatility (6M)

Calculated over the trailing 6-month period

11.85%

14.29%

-2.44%

Volatility (1Y)

Calculated over the trailing 1-year period

14.22%

17.18%

-2.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.72%

17.96%

-3.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.09%

18.53%

-2.44%

XEU.TO vs. FEZ - Expense Ratio Comparison

XEU.TO has a 0.28% expense ratio, which is lower than FEZ's 0.29% expense ratio.

Dividends

XEU.TO vs. FEZ - Dividend Comparison

XEU.TO's dividend yield for the trailing twelve months is around 2.31%, less than FEZ's 2.57% yield.

PositionTTM20252024202320222021202020192018201720162015
FEZ
SPDR EURO STOXX 50 ETF		2.57%2.78%2.94%2.75%3.06%2.61%2.13%2.61%3.45%2.44%3.35%3.03%
XEU.TO
iShares MSCI Europe IMI Index ETF		2.31%2.47%2.68%2.96%3.03%2.42%1.98%3.56%3.28%2.27%2.91%2.33%

Frequently Asked Questions

XEU.TO and FEZ have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEU.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEU.TO is cheaper with a 0.28% expense ratio, compared with 0.29% for FEZ.

XEU.TO tracks Morningstar Eur GR CAD, while FEZ tracks EURO STOXX 50 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.28% for XEU.TO and 0.29% for FEZ.

Portfolio Optimizer

Find the right allocation for XEU.TO and FEZ

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