Which returned more over the last year, EWU or FEZ?

In the year to Oct 28, 2026, with distributions reinvested, EWU returned +13.9% and FEZ +6.0%.

Which is cheaper, EWU or FEZ?

FEZ is cheaper, by 0.21 percentage points a year. That is about $21 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do EWU and FEZ overlap with the S&P 500?

By their latest filed holdings, 0% of EWU and 0% of FEZ by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

EWU vs FEZ: Differences, Returns & Fees

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Over the year to Oct 28, 2026, EWU returned +13.9% to FEZ's +6.0%; 0% of their weight is in the same names.

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Net assets: $3.7bn on Oct 28, 2026 for iShares MSCI United Kingdom ETF, and $4.1bn on Oct 27, 2026 for State Street SPDR EURO STOXX 50 ETF.

EWU on its own →FEZ on its own →

At a glance

+13.9%

EWU total return, 1 year

+6.0%

FEZ total return, 1 year

0.50%

EWU expense ratio

0.29%

FEZ expense ratio

Pair scorecard

FEZ costs 0.21 points a year less; their one-year returns differ by 7.9 points; FEZ is 1.1 times larger.

EWU vs FEZ: Differences, Returns & Fees
Measure	EWU	FEZ
Return
Measure	EWU	FEZ
Total return, 1 year	+13.9%	+6.0%
Drawdown
Measure	EWU	FEZ
Below its high	4.3%, high on Aug 25, 2026	9.0%, high on Aug 14, 2026
Benchmark
Measure	EWU	FEZ
What it tracks	MSCI United Kingdom Index	EURO STOXX 50 Index
Cost and size
Measure	EWU	FEZ
Expense ratio	0.50%	0.29%
Net assets, as of Oct 27, 2026	$3.7bn	$4.1bn
Holdings
Measure	EWU	FEZ
Holdings in common	0%
Top ten holdings, share of the fund	53.0%	42.9%

Holdings in common uses holdings dated Oct 27, 2026. Method

Risk and return

Apr 11, 2008 to Oct 23, 2026 · 967 weekly returns · each against ACWX

EWU FEZ

Return

Total return edge EWU +121.5% +105.3%

Annualized edge EWU (slight) +4.4% +3.9%

Price return edge FEZ +8.3% +12.9%

Risk

Volatility edge EWU 20.9% 24.6%

Max drawdown edge EWU (slight) −58.6% −60.8%

Downside capture 95.2% 109.3%

Beta 0.97 1.16

Risk-adjusted

Sharpe edge EWU (slight) 0.24 0.22

Sortino edge EWU (slight) 0.33 0.31

Treynor 0.052 0.047

Calmar edge EWU (slight) 0.07 0.06

Against the benchmark

Alpha +0.2% a year −0.3% a year

Alpha t-stat 0.09 −0.15

Information ratio 0.00 0.05

Tracking error 8.3% 9.5%

Reading

EWU returned more: +121.5% to +105.3%. EWU swung less: 20.9% to 24.6%. EWU fell slightly less at its worst: −58.6% to −60.8%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: EWU vs FEZ: Differences, Returns & Fees
Measure	EWU	FEZ	ACWX	Edge	How it is measured
Return
Total return	+121.5%	+105.3%	+129.8%	EWU	Price change plus distributions, reinvested.
Annualized	+4.4%	+3.9%	+4.6%	EWU (slight)	Total return as a yearly rate.
Price return	+8.3%	+12.9%	+42.8%	FEZ	Price change alone, distributions left out.
Risk
Volatility	20.9%	24.6%	19.8%	EWU	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	15.2%	17.7%	14.4%	EWU	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−58.6%	−60.8%	−59.4%	EWU (slight)	Deepest fall from a high to the low after it.
Upside capture	87.8%	125.7%	100.0%	FEZ	Share of its benchmark's rise caught in the weeks it rose.
Downside capture	95.2%	109.3%	100.0%	EWU	Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.97	1.16	1.00	EWU lower	How far it moves for each 1% its benchmark moves.
R squared	0.84	0.87	1.00	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.24	0.22	0.25	EWU (slight)	Return above Treasury bills per unit of volatility.
Sortino	0.33	0.31	0.35	EWU (slight)	Return above Treasury bills per unit of downside deviation.
Treynor	0.052	0.047	0.050	EWU (slight)	Return above Treasury bills per unit of beta.
Calmar	0.07	0.06	0.08	EWU (slight)	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	ACWX	ACWX	ACWX		The ETF each fund is measured against.
Alpha	+0.2% a year	−0.3% a year	0.0%	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	0.09	−0.15		Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−3.6% to +4.0%	−4.4% to +3.8%		Both include zero	The 95% range for the yearly alpha.
Information ratio	0.00	0.05		FEZ	Return against its benchmark per unit of tracking error.
Tracking error	8.3%	9.5%	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, 967 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, EWU and FEZ hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first EWU FEZ

Only in one fund ↓

Only in EWU

SHELL 9.67%

HSBC HOLDINGS PLC 9.45%

ASTRAZENECA PLC 8.24%

UNILEVER PLC 4.48%

ROLLS-ROYCE HOLDINGS PLC 4.41%

BP PLC 4.09%

BRITISH AMERICAN TOBACCO 3.83%

GLAXOSMITHKLINE 3.31%

Only in FEZ

ASML HOLDING NV 10.09%

SAP SE 4.85%

SIEMENS AG REG 4.42%

TOTALENERGIES SE 4.28%

BANCO SANTANDER SA 3.83%

ALLIANZ SE REG 3.74%

SCHNEIDER ELECTRIC SE 3.18%

IBERDROLA SA 3.08%

Check overlap with more funds →

Side by side

EWU iShares MSCI United Kingdom ETF FEZ State Street SPDR EURO STOXX 50 ETF

Where it sits Stock ETF Stock ETF

Issuer iShares State Street

What it is Tracks an index Tracks an index

Total return, 1 year +13.9% +6.0%

Its benchmark over the same days +14.3% (ACWX) +14.3% (ACWX)

Gap to its benchmark −0.4 pts vs ACWX −8.3 pts vs ACWX

Expense ratio 0.50% 0.29%

Already in the S&P 500 0.0% 0.0%

Holdings 67 52

Net assets, EWU as of Oct 28, 2026 and FEZ as of Oct 27, 2026 $3.7bn $4.1bn

EWU and FEZ on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-C4CD0F9FF0

EWU and FEZ are built for the same job. How do they differ in cost, holdings and results?

What each follows. EWU follows MSCI United Kingdom Index and FEZ follows EURO STOXX 50 Index.
Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
One-year total return. Over 1 year to Oct 28, 2026 EWU returned +13.9% and FEZ +6.0% with distributions reinvested, a gap of 7.9 points.

Data as of Oct 28, 2026.

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About each fund

EWU

EWU tracks an index. Over the year to Oct 28, 2026 it returned +13.9% with distributions reinvested, against +14.3% for its benchmark, the MSCI ACWI ex USA Index. The prospectus expense ratio is 0.50% 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 67 positions, with the top ten at 53.0%. It sat 4.3% below its high of Aug 25, 2026 on Oct 28, 2026.

FEZ

FEZ tracks an index. Over the year to Oct 28, 2026 it returned +6.0% with distributions reinvested, against +14.3% for its benchmark, the MSCI All Country World ex USA Index. The prospectus expense ratio is 0.29% 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 42.9%. It sat 9.0% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, EWU or FEZ?: In the year to Oct 28, 2026, with distributions reinvested, EWU returned +13.9% and FEZ +6.0%.
Which is cheaper, EWU or FEZ?: FEZ is cheaper, by 0.21 percentage points a year. That is about $21 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do EWU and FEZ overlap with the S&P 500?: By their latest filed holdings, 0% of EWU and 0% of FEZ by weight is stocks the S&P 500 already holds.

Other comparisons

EUFN vs EWU EWU vs EZU EWD vs EWU EPOL vs EWU EUFN vs FEZ FEZ vs IDV FEZ vs IEV BBEU vs FEZ

Where to next

EWU on its own →FEZ on its own →Hold both: look the portfolio through →Rankings →EWU dividend history →EWU holdings →FEZ dividend history →FEZ holdings →Standards and sources →

Sources and dates

EWU filings on SEC EDGAR ↗

EWU prospectus with the expense ratio (SEC) ↗

iShares page for EWU ↗

FEZ filings on SEC EDGAR ↗

FEZ prospectus with the expense ratio (SEC) ↗

State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, EWU against FEZ, data as of Oct 28, 2026. https://etfiq.com/compare/any/ewu-vs-fez

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.