Data as of Oct 28, 2026.
EWG vs IEUR: Differences, Returns & Fees
Over the year to Oct 28, 2026, EWG returned +2.2% to IEUR's +10.1%; 12% of their weight is in the same names.
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Net assets: $1.5bn on Oct 28, 2026 for iShares MSCI Germany ETF, and $9.4bn on Oct 27, 2026 for iShares Core MSCI Europe ETF.
Pair scorecard
IEUR costs 0.39 points a year less; their one-year returns differ by 7.9 points; IEUR is 6.3 times larger.
| Measure | EWG | IEUR |
|---|---|---|
| Return | ||
| Total return, 1 year | +2.2% | +10.1% |
| Drawdown | ||
| Below its high | 6.3%, high on Aug 28, 2026 | 5.9%, high on Aug 25, 2026 |
| Benchmark | ||
| What it tracks | MSCI Germany 25/50 Index | MSCI Europe IMI |
| Cost and size | ||
| Expense ratio | 0.49% | 0.10% |
| Net assets, as of Oct 23, 2026 | $1.5bn | $9.4bn |
| Holdings | ||
| Holdings in common | 12% | |
| Top ten holdings, share of the fund | 63.4% | 19.8% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Jun 20, 2014 to Oct 23, 2026 · 644 weekly returns · each against ACWXIEUR returned more: +108.5% to +71.1%. IEUR swung less: 18.1% to 20.9%. IEUR fell less at its worst: −36.5% to −46.0%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | EWG | IEUR | ACWX | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +71.1% | +108.5% | IEUR | Price change plus distributions, reinvested. | |
| Annualized | +4.4% | +6.1% | IEUR | Total return as a yearly rate. | |
| Price return | +27.2% | +45.6% | IEUR | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 20.9% | 18.1% | IEUR | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 14.9% | 13.1% | IEUR | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −46.0% | −36.5% | IEUR | Deepest fall from a high to the low after it. | |
| Upside capture | 110.7% | 101.1% | 100.0% | EWG (slight) | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 107.3% | 100.7% | 100.0% | IEUR (slight) | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.15 | 1.05 | 1.00 | IEUR lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.81 | 0.91 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.21 | 0.31 | IEUR | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.30 | 0.42 | IEUR | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.039 | 0.053 | 0.053 | IEUR | Return above Treasury bills per unit of beta. |
| Calmar | 0.10 | 0.17 | IEUR | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | ACWX | ACWX | ACWX | The ETF each fund is measured against. | |
| Alpha | −1.6% a year | 0.0% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.62 | −0.01 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −6.6% to +3.5% | −3.1% to +3.1% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.08 | 0.05 | IEUR | Return against its benchmark per unit of tracking error. | |
| Tracking error | 9.4% | 5.6% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 644 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, EWG and IEUR hold 12% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
12% in common
Only in one fund ↓
Side by side
EWG and IEUR on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
EWG and IEUR are built for the same job. How do they differ in cost, holdings and results?
- What each follows. EWG follows MSCI Germany 25/50 Index and IEUR follows MSCI Europe IMI.
- Holdings in common. 12% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 EWG returned +2.2% and IEUR +10.1% with distributions reinvested, a gap of 7.9 points.
Data as of Oct 28, 2026.
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EWG
EWG tracks an index. Over the year to Oct 28, 2026 it returned +2.2% with distributions reinvested, against +14.3% for its benchmark, the MSCI ACWI ex USA Index. The prospectus expense ratio is 0.49% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 52 positions, with the top ten at 63.4%. It sat 6.3% below its high of Aug 28, 2026 on Oct 28, 2026.
IEUR
IEUR tracks an index. Over the year to Oct 28, 2026 it returned +10.1% with distributions reinvested, against +14.3% for its benchmark, the MSCI ACWI ex USA Index. The prospectus expense ratio is 0.10% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1,012 positions, with the top ten at 19.8%. It sat 5.9% below its high of Aug 25, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, EWG or IEUR?
- In the year to Oct 28, 2026, with distributions reinvested, EWG returned +2.2% and IEUR +10.1%.
- Which is cheaper, EWG or IEUR?
- IEUR is cheaper, by 0.39 percentage points a year. That is about $39 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, EWG against IEUR, data as of Oct 28, 2026. https://etfiq.com/compare/any/ewg-vs-ieur
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