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Portfolio analysis for European investors: UCITS ETFs and European listings, in depth.

Most portfolio tools are built around US tickers. MEDGE Capital analyses the ETFs Europeans actually buy, on Xetra, Borsa Italiana, Euronext, London, SIX and the other European exchanges, with the same depth as a US portfolio: backtests with costs, exact attribution, stress scenarios, euro benchmarks and a savings-plan simulator.

  • Search and analyse listings on Xetra, Milan, Paris, Amsterdam, London, Madrid and Zurich, UCITS ETFs included
  • Euro benchmarks ready to use: VWCE, EUNL, SXR8, AGGH and a 60/40 in euro listings
  • Every number in each listing’s own currency, so currency effects are visible, not hidden
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Last updated

Who it’s for

  • Investors in Italy, Germany, France, the Netherlands, Spain, Switzerland, the UK and the rest of Europe who hold UCITS ETFs and European stocks.
  • Savers with a monthly plan (PAC, Sparplan) on one or two world ETFs who want to know the risk they are taking.
  • Investors who mix European listings with US stocks and want one analysis for both.
  • Anyone choosing between near-identical UCITS ETFs and wanting evidence, not marketing.

Who it’s not for

  • Investors who need the whole portfolio converted into euros, pounds or francs: MEDGE keeps each instrument in its listing currency.
  • Tax reporting for your country: the savings-plan simulator applies one capital-gains rate you choose, nothing more.
  • Intraday trading on European exchanges: European listings update at the last close.
  • Funds that are not exchange-listed, such as most bank mutual funds.

Step by step

How MEDGE Capital helps european investors, situation by situation.

01Free plan

Analysing a portfolio of UCITS ETFs

A typical European portfolio is VWCE or SWDA, an emerging-markets ETF, a euro bond fund and some gold. Many tools cannot even find the tickers.

In MEDGE

  1. 1Open the analyzer (Portfolio → Analyze) and search each holding: the exchange filter covers Xetra, Borsa Italiana, Euronext Paris and Amsterdam, London, Madrid, SIX Swiss and the US markets.
  2. 2Enter the weights in %, or leave them blank for equal weights; set the initial capital and the start date.
  3. 3Press “Compute portfolio”: the Overview tab shows CAGR, volatility, Sharpe, Sortino, maximum drawdown, Calmar, CVaR and the monthly returns.
  4. 4In Backtesting, choose how you rebalance (none, monthly, quarterly, yearly or by threshold) and your transaction cost in basis points, to see the real cost drag.

What you get

A full picture of the portfolio you actually own, not a US proxy of it.

VWCE.DEXetraEUR
AGGH.ASEuronext AmsterdamEUR
ENEL.MIBorsa ItalianaEUR
NESN.SWSIX SwissCHF
QQQNasdaqUSD

Illustrative preview, not a real portfolio.

02Free plan

“Are VWCE and SWDA basically the same fund?”

Holding two world ETFs feels diversified. Often they move almost identically, and the second one only adds fees and complexity.

In MEDGE

  1. 1Open Tools → Correlation matrix and add the ETFs, stocks, indices or commodities you want to compare (up to 12).
  2. 2Pick the window (1, 3, 5 or 10 years) and the frequency (daily, weekly or monthly).
  3. 3Read “Most alike” and “Most different”: a correlation near 1.00 means near-duplicates.
  4. 4Inside the analyzer, the Overview tab’s Asset Correlation and Risk Contributions show the same thing for your own weights, and how much risk each holding carries.

What you get

Evidence on which holdings really diversify and which ones duplicate each other.

Compare UCITS ETFs side by side
SPYVWCETLTGLDOil
SPY1.000.93-0.210.080.31
VWCE0.931.00-0.150.120.34
TLT-0.21-0.151.000.27-0.18
GLD0.080.120.271.000.22
Oil0.310.34-0.180.221.00

Illustrative preview, not a real portfolio.

03From Essential

Measuring against a European benchmark

Comparing a euro portfolio with the S&P 500 in dollars mixes currency with skill. The yardstick should be in euro listings too.

In MEDGE

  1. 1Open the Benchmarks tab of the analyzer and choose “Whole portfolio”.
  2. 2Pick one of the “Euro listings” presets (VWCE.DE, EUNL.DE, SXR8.DE, AGGH.AS) or build a composite of up to two, such as a 60/40 in euro listings.
  3. 3Read the scorecard: excess return per year, same-risk excess, alpha, beta, tracking error, information ratio, up and down capture, R² and maximum drawdown.
  4. 4Check calendar years and drawdowns side by side to see when the gap opened.

What you get

A fair comparison with fewer currency effects, so you can tell your choices from the exchange rate.

100% equity80/20
CAGR7.8%7.1%
Volatility14.9%10.2%
Max drawdown−26.4%−17.9%
Sharpe0.440.55
CVaR 95%−2.3%−1.6%

Illustrative preview, not a real portfolio.

04From Essential

What a crisis would do to a euro portfolio

A falling dollar, rising rates or a tech sell-off hit a European portfolio differently from an American one. The answer depends on your exact funds.

In MEDGE

  1. 1In Backtesting → Stress Lab, start from a ready scenario such as “Dollar surge”, “Rates up, duration sold” or “Tech & semis unwind”.
  2. 2Adjust the shocks on any of 45 benchmarks, including countries and regions, rates and credit, and currencies.
  3. 3Read the expected move with its 90% band and the impact on each of your holdings.
  4. 4Move the weights in “Change the mix” and watch the result update.

What you get

The scenario you fear, measured on the funds you own, with the holding that would hurt most.

Scenario · Nasdaq −20%, rates +1pt−7.9%
QQQ30%
−5.4%
VWCE35%
−3.9%
SGLD10%
+0.6%
AGGH25%
+0.8%

Contribution of each holding to the scenario loss, in portfolio points.

Illustrative preview, not a real portfolio.

05Free plan

Planning a monthly savings plan (PAC, Sparplan)

You invest the same amount every month and want to know a realistic range of outcomes after taxes and inflation, not a single optimistic number.

In MEDGE

  1. 1Open PAC / DCA and set the amount, frequency (weekly to every 6 months), duration and risk profile; start from a template such as “Fixed Monthly DCA” or “Annual Step-up” if you like.
  2. 2Set expected return, volatility, inflation and your capital-gains tax rate (26% by default, the Italian rate; change it to yours).
  3. 3Read the expected value with the 8-in-10 range, what you pay in, the growth, the value after tax and in today’s money.
  4. 4Check “Regular plan vs lump sum” and “The same plan on real market history”, which also shows how much the start date matters and what fees cost.

What you get

A realistic range for your plan, net of tax and inflation, and how the timing of your start changes it.

Try the DCA calculator

Illustrative preview, not a real portfolio.

06Free plan

Hedging, with the currency in view

Bonds, gold and other hedges behave differently for a euro investor because the exchange rate moves too.

In MEDGE

  1. 1Open Hedging tools, pick your saved portfolio, the history (3, 5 or 10 years) and the hedge size (5%, 10% or 20%).
  2. 2The crisis test shows how 19 popular hedges and 4 ready mixes behaved in six recent sell-offs, with a verdict for each.
  3. 3The hedges are US-listed and priced in dollars, so the results include the exchange-rate effect; many have UCITS equivalents you can then test by adding them to your portfolio in the analyzer.

What you get

Which kind of protection would have worked for your portfolio, and at what cost in normal years.

How portfolio hedging works
10% hedgeIn crisesPer yearVerdict
TLT · long Treasuries+4.1−0.6Would have helped
GLD · gold+2.3+0.2Would have helped
XLU · utilities+0.6−0.2Small effect
VIXY · VIX futures+3.2−7.8Protected, at a high cost

Points saved in past crises vs points lost per year in normal markets.

Illustrative preview, not a real portfolio.

Feature map

Every MEDGE feature european investors use, and the plan that unlocks it.

FeatureThe question it answersPlan
Ticker search with exchange filterCan I find my UCITS ETF on Xetra, Milan, Amsterdam or London?Free
Backtesting labHow did my portfolio behave, with my rebalancing and costs?Free
Correlation matrixAre my two world ETFs the same thing?Free
Preset portfoliosHow does my mix compare with 12 standard portfolios such as 60/40 or All Weather?Free
PAC / DCA plannerWhat range of outcomes can I expect from my monthly plan, after tax and inflation?Free
Hedging toolsWhich hedge would have protected my portfolio in past crises?Free
Benchmarks with euro listingsDid I beat a fair euro benchmark?Essential+
Stress LabWhat does a dollar surge or a rate shock do to my funds?Essential+
Security AnalysisRisk, returns, drawdowns and dividends of a single ETF or stock.Essential+
Portfolio ExposureHow much of my “world” ETF is really US tech?Plus+

What MEDGE does not do

Worth knowing before you decide.

  • No conversion into a single base currency: each instrument stays in its listing currency, and results include currency moves.
  • European listings update at the last close; real-time prices are for US listings during market hours.
  • The savings-plan simulator applies one capital-gains rate; it does not model country-specific tax rules.
  • The “same plan on real market history” check uses US-listed index ETFs as the market reference.
  • Analytics, not advice: MEDGE does not recommend funds.

FAQ

MEDGE Capital for european investors: questions.

Can I analyse UCITS ETFs with MEDGE Capital?

Yes. You can search and analyse ETFs and stocks listed on Xetra, Borsa Italiana, Euronext Paris and Amsterdam, London, Madrid, SIX Swiss and other European exchanges, alongside US listings. Backtests, attribution and regimes are free; stress tests and euro benchmarks start with Essential.

Does MEDGE convert my portfolio into euros?

No. Each instrument is analysed in its own listing currency, so a euro listing stays in euros and a US listing stays in dollars. For a euro investor the cleanest approach is to use euro listings and the euro benchmarks provided, which keeps currency effects small and visible.

How do I check if two ETFs overlap?

Use the Correlation matrix in Tools: add up to 12 ETFs, stocks, indices or commodities and choose a window of 1 to 10 years. A correlation close to 1.00 means the two move almost identically. MEDGE’s public ETF pages also compare popular UCITS pairs side by side.

Is there a PAC or Sparplan simulator with taxes?

Yes. PAC / DCA simulates monthly or weekly plans with 400 Monte Carlo paths, inflation and a capital-gains tax rate you set (26% by default, the Italian rate), compares the plan with a lump sum and replays it on real market history. It is included in the Free plan.

Are European prices real-time?

European listings use the last closing price. Real-time prices are available for US listings during market hours.

Start with your own portfolio, free.

Paste your tickers and weights. Backtests, attribution and regimes work on the Free plan with no time limit; upgrade only when you need the features above.

Analyse my portfolio free See pricing

MEDGE Capital is an analytics tool, not investment advice. Past performance is not indicative of future results. Full disclaimer.