EZU vs EXS1: returns, risk and drawdowns compared
iShares MSCI Eurozone ETF against iShares Core DAX UCITS ETF (DE), over the same 16 years (February 2010 to October 2026) with dividends reinvested.
Data updated October 2026
From February 2010 to October 2026, EZU returned 6.8% a year and EXS1 8.6% a year on average, so EXS1 came out ahead by 1.8% a year. EZU was the more volatile of the two (19.6% against 16.7% a year), and the deepest falls from a month-end high were 35.8% for EZU and 27.1% for EXS1.
The correlation of monthly returns was 0.83: they usually moved together. Over 166 rolling 3-year periods, EZU did better in 41% and EXS1 in 59%.
EZU trades in USD and EXS1 in EUR: each return is in its own currency, so part of the gap reflects the move of the euro against the dollar.
Side by side
| EZU | EXS1 | |
|---|---|---|
| Annual return (CAGR) | +6.8% | +8.6% |
| Total return | +200% | +299% |
| Annual volatility | 19.6% | 16.7% |
| Maximum drawdown (month-end) | −35.8% | −27.1% |
| Worst month | −18.6% | −19.0% |
| Best month | +19.7% | +15.0% |
| Positive months | 57% | 59% |
| Best year | 2025: +40.0% | 2012: +27.6% |
| Worst year | 2011: −18.2% | 2018: −18.8% |
| 1-year return | +7.2% | +3.8% |
| 5 years, a year | +8.7% | +9.6% |
| 10 years, a year | +9.6% | +8.3% |
| Trading currency | USD | EUR |
First nine rows: the same 201 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: EZU vs EXS1
Returns by calendar year
| Year | EZU | EXS1 |
|---|---|---|
| 2025 | +40.0% | +22.6% |
| 2024 | +2.2% | +18.1% |
| 2023 | +23.4% | +19.4% |
| 2022 | −17.2% | −12.8% |
| 2021 | +13.9% | +15.2% |
| 2020 | +7.6% | +3.0% |
| 2019 | +23.3% | +24.7% |
| 2018 | −16.8% | −18.8% |
| 2017 | +27.9% | +11.8% |
| 2016 | +1.9% | +5.7% |
| 2015 | −1.6% | +8.7% |
| 2014 | −9.9% | +1.9% |
| 2013 | +27.1% | +24.5% |
| 2012 | +23.9% | +27.6% |
| 2011 | −18.2% | −15.7% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, EZU or EXS1?
From February 2010 to October 2026, EZU returned +6.8% a year and EXS1 +8.6% a year, with dividends reinvested, each in its own trading currency (USD and EUR). Over rolling 3-year periods EZU did better in 41% of cases. Past returns do not predict future returns.
Which is riskier, EZU or EXS1?
Over the same months annual volatility was 19.6% for EZU and 16.7% for EXS1; the deepest fall from a month-end high was 35.8% and 27.1%, and the worst single month −18.6% and −19.0%.
How correlated are EZU and EXS1?
The correlation of their monthly returns was 0.83: they usually moved together. Combining them has historically given some diversification.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.