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XMEU.L vs. IAEX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMEU.L vs. IAEX.L

Last updated Jun 5, 2026

XMEU.L (Xtrackers MSCI Europe UCITS ETF 1C) and IAEX.L (iShares AEX UCITS ETF EUR (Dist)) are both Europe Equities funds - XMEU.L tracks the MSCI Europe NR EUR while IAEX.L tracks the Euronext AEX All Share TR EUR. Both are passively managed. Over the past 10 years, XMEU.L returned 10.17%/yr vs 12.93%/yr for IAEX.L. A 0.72 correlation means they provide meaningful diversification when combined. XMEU.L charges 0.12%/yr vs 0.30%/yr for IAEX.L.

Performance

XMEU.L vs. IAEX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI Europe UCITS ETF 1C (XMEU.L) and iShares AEX UCITS ETF EUR (Dist) (IAEX.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XMEU.L achieves a 6.81% return, which is significantly lower than IAEX.L's 10.82% return. Over the past 10 years, XMEU.L has underperformed IAEX.L with an annualized return of 10.17%, while IAEX.L has yielded a comparatively higher 12.93% annualized return.

XMEU.L

1D
0.54%
1M
1.15%
YTD
6.81%
6M
8.75%
1Y
18.92%
3Y*
13.78%
5Y*
10.12%
10Y*
10.17%

IAEX.L

1D
0.41%
1M
2.31%
YTD
10.82%
6M
10.96%
1Y
19.22%
3Y*
14.11%
5Y*
10.66%
10Y*
12.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMEU.L vs. IAEX.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XMEU.L
Xtrackers MSCI Europe UCITS ETF 1C		6.81%25.81%3.60%13.26%-3.48%16.84%2.45%19.45%-9.45%14.83%
IAEX.L
iShares AEX UCITS ETF EUR (Dist)		10.82%16.56%9.02%14.52%-5.93%21.34%11.18%22.17%-7.39%21.31%

Correlation

The correlation between XMEU.L and IAEX.L is 0.79, 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

0.79

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

0.83

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

0.86

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

0.90

Correlation (All Time)
Calculated using the full available price history since Jan 3, 2008

0.72

The correlation between XMEU.L and IAEX.L shifts across timeframes, from 0.72 (all time) to 0.90 (10 years), reflecting how their relationship changes across market environments.

XMEU.L vs. IAEX.L - Sectors Allocation Comparison

Sectors
XMEU.L
IAEX.L

Financial Services

23.6%
15.3%

Industrials

20.2%
8.3%

Healthcare

13.3%
1.9%

Technology

8.7%
27.1%

Consumer Defensive

8.0%
18.4%

Consumer Cyclical

6.4%
5.0%

Energy

5.4%
13.5%

Basic Materials

5.0%
5.9%

Utilities

4.8%

-

Communication Services

3.7%
4.2%

Real Estate

0.8%
0.5%

Financial Services

XMEU.L
23.6%
IAEX.L
15.3%

Industrials

XMEU.L
20.2%
IAEX.L
8.3%

Healthcare

XMEU.L
13.3%
IAEX.L
1.9%

Technology

XMEU.L
8.7%
IAEX.L
27.1%

Consumer Defensive

XMEU.L
8.0%
IAEX.L
18.4%

Consumer Cyclical

XMEU.L
6.4%
IAEX.L
5.0%

Energy

XMEU.L
5.4%
IAEX.L
13.5%

Basic Materials

XMEU.L
5.0%
IAEX.L
5.9%

Utilities

XMEU.L
4.8%
IAEX.L

-

Communication Services

XMEU.L
3.7%
IAEX.L
4.2%

Real Estate

XMEU.L
0.8%
IAEX.L
0.5%

Compare stocks, funds, or ETFs

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

Xtrackers MSCI Europe UCITS ETF 1C

iShares AEX UCITS ETF EUR (Dist)

Often compared with XMEU.L:
XMEU.L vs. XZEU.DEXMEU.L vs. 8PSG.DEXMEU.L vs. XMME.DEXMEU.L vs. VNRA.DEXMEU.L vs. GOVD.LXMEU.L vs. SPX4.LXMEU.L vs. EUNL.DE
Often compared with IAEX.L:
IAEX.L vs. CSPX.LIAEX.L vs. CNDX.LIAEX.L vs. ^GSPCIAEX.L vs. VOOIAEX.L vs. VGTIAEX.L vs. VUSA.LIAEX.L vs. IUSA.L

Return for Risk

XMEU.L vs. IAEX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMEU.L
XMEU.L Risk / Return Rank: 4444
Overall Rank
XMEU.L Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
XMEU.L Sortino Ratio Rank: 4646
Sortino Ratio Rank
XMEU.L Omega Ratio Rank: 4949
Omega Ratio Rank
XMEU.L Calmar Ratio Rank: 3838
Calmar Ratio Rank
XMEU.L Martin Ratio Rank: 4242
Martin Ratio Rank
IAEX.L
IAEX.L Risk / Return Rank: 4646
Overall Rank
IAEX.L Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
IAEX.L Sortino Ratio Rank: 4343
Sortino Ratio Rank
IAEX.L Omega Ratio Rank: 4444
Omega Ratio Rank
IAEX.L Calmar Ratio Rank: 5353
Calmar Ratio Rank
IAEX.L Martin Ratio Rank: 4545
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.

XMEU.L vs. IAEX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Europe UCITS ETF 1C (XMEU.L) and iShares AEX UCITS ETF EUR (Dist) (IAEX.L). 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.

XMEU.LIAEX.LDifference
Sharpe ratioReturn per unit of total volatility
1.60
1.53

+0.07

Sortino ratioReturn per unit of downside risk
2.25
2.16

+0.08

Omega ratioGain probability vs. loss probability

1.30

1.28

+0.03

Calmar ratioReturn relative to maximum drawdown

1.84

2.57

-0.73

Martin ratioReturn relative to average drawdown

6.65

7.46

-0.81

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

XMEU.L vs. IAEX.L - Sharpe Ratio Comparison

The current XMEU.L Sharpe Ratio is 1.60, which is comparable to the IAEX.L Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of XMEU.L and IAEX.L, 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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Sharpe Ratios by Period

XMEU.LIAEX.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.60

1.53

+0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.73

0.70

+0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.68

0.75

-0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.25

+0.18

Drawdowns

XMEU.L vs. IAEX.L - Drawdown Comparison

The maximum XMEU.L drawdown since its inception was -44.27%, smaller than the maximum IAEX.L drawdown of -63.69%. Use the drawdown chart below to compare losses from any high point for XMEU.L and IAEX.L.

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Drawdown Indicators

XMEU.LIAEX.LDifference

Max Drawdown

Largest peak-to-trough decline

-44.27%

-63.69%

+19.42%

Max Drawdown (1Y)

Largest decline over 1 year

-10.32%

-7.50%

-2.82%

Max Drawdown (3Y)

Largest decline over 3 years

-13.16%

-12.75%

-0.41%

Max Drawdown (5Y)

Largest decline over 5 years

-15.60%

-21.90%

+6.30%

Max Drawdown (10Y)

Largest decline over 10 years

-28.55%

-28.83%

+0.28%

Current Drawdown

Current decline from peak

-1.11%

0.00%

-1.11%

Average Drawdown

Average peak-to-trough decline

-5.88%

-16.55%

+10.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.86%

2.59%

+0.27%

Volatility

XMEU.L vs. IAEX.L - Volatility Comparison

Xtrackers MSCI Europe UCITS ETF 1C (XMEU.L) has a higher volatility of 3.78% compared to iShares AEX UCITS ETF EUR (Dist) (IAEX.L) at 3.47%. This indicates that XMEU.L's price experiences larger fluctuations and is considered to be riskier than IAEX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMEU.LIAEX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.78%

3.47%

+0.31%

Volatility (6M)

Calculated over the trailing 6-month period

9.93%

10.12%

-0.19%

Volatility (1Y)

Calculated over the trailing 1-year period

11.90%

12.63%

-0.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.80%

15.16%

-1.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.86%

17.22%

-2.36%

XMEU.L vs. IAEX.L - Expense Ratio Comparison

XMEU.L has a 0.12% expense ratio, which is lower than IAEX.L's 0.30% expense ratio.

Dividends

XMEU.L vs. IAEX.L - Dividend Comparison

XMEU.L has not paid dividends to shareholders, while IAEX.L's dividend yield for the trailing twelve months is around 2.12%.

PositionTTM20252024202320222021202020192018201720162015
IAEX.L
iShares AEX UCITS ETF EUR (Dist)		2.12%2.37%2.57%2.43%2.56%1.84%1.57%3.29%3.54%3.09%3.34%3.94%
XMEU.L
Xtrackers MSCI Europe UCITS ETF 1C		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.12%0.00%

Frequently Asked Questions

XMEU.L and IAEX.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XMEU.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XMEU.L is cheaper with a 0.12% expense ratio, compared with 0.30% for IAEX.L.

XMEU.L tracks MSCI Europe NR EUR, while IAEX.L tracks Euronext AEX All Share TR EUR. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.12% for XMEU.L and 0.30% for IAEX.L.

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