Performance
Total return to 23 Oct 2026, distributions reinvested, before franking. ASX figures are to 30 Sept 2026 and gross of franking, so they run higher for franked Australian funds.
What it costs to hold
Management fee plus trading costs, compared with similar funds.
A typical fund among equity funds would cost $264 (0.53% a year), so IEU is $38 dearer.
Spread is the average gap between buying and selling prices on the ASX. Fees are shown on a flat balance, not compounded on growth. Excludes tax and any adviser or platform fees.
Calendar-year returns
Where the money is
Look-through exposure as at 2 Sept 2026 · 352 securities · top 10 = 21.4%
Country
Sector
Monthly returns
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | −0.2 | 1.6 | −7.0 | 1.4 | 4.4 | 4.3 | 0.9 | −0.7 | −1.4 | −2.5 | 0.4YTD | ||
| 2025 | 6.5 | 3.1 | 0.8 | 0.8 | 4.5 | 0.1 | 0.3 | 1.3 | 0.1 | 2.6 | 0.7 | 1.8 | 25.0 |
| 2024 | 3.8 | 3.1 | 3.6 | −1.4 | 2.0 | −1.9 | 3.9 | −0.6 | −0.6 | −1.1 | −2.1 | 2.8 | 11.6 |
| 2023 | 3.3 | 4.5 | 2.0 | 5.6 | −2.7 | 0.1 | 3.0 | 0.4 | −4.9 | −2.1 | 5.5 | 1.7 | 17.1 |
| 2022 | −0.5 | −8.2 | 0.4 | −2.4 | 1.4 | −6.6 | 1.8 | −2.7 | −5.1 | 10.3 | 6.2 | −0.6 | −7.2 |
| 2021 | −1.0 | 0.1 | 5.7 | 3.1 | 4.4 | 1.9 | 2.4 | 3.1 | −3.2 | −0.5 | 1.4 | 2.5 | 21.4 |
| 2020 | 3.1 | −7.6 | −11.4 | 3.6 | 0.9 | 0.9 | −0.3 | 1.5 | 0.1 | −6.1 | 12.8 | 0.5 | −4.0 |
| 2019 | 3.9 | 4.3 | 1.8 | 4.1 | −3.3 | 3.7 | 1.0 | −0.7 | 2.3 | 1.4 | 3.3 | 0.1 | 24.0 |
| 2018 | 2.4 | −2.3 | −0.4 | 4.6 | −2.7 | 0.3 | 3.3 | 0.6 | 0.7 | −7.6 | −2.3 | −2.3 | −6.0 |
| 2017 | −2.4 | −0.2 | 4.4 | 6.4 | 4.6 | −2.9 | −1.8 | 0.6 | 3.9 | 2.8 | 1.6 | −1.5 | 16.0 |
| 2016 | −5.6 | −2.6 | −0.1 | 2.9 | 5.4 | −8.7 | 3.1 | 1.5 | −2.1 | −1.3 | −1.4 | 8.8 | −1.3 |
| 2015 | 7.0 | 4.0 | 0.8 | −1.4 | 5.8 | −4.0 | 6.2 | −4.6 | −3.8 | 6.8 | −3.3 | −2.8 | 9.8 |
| 2014 | −1.4 | 3.5 | −3.2 | 1.0 | 1.1 | −0.9 | −1.5 | −1.8 | 3.0 | −3.3 | 6.7 | −1.0 | 1.9 |
| 2013 | 7.0 | −1.8 | −3.0 | 6.7 | 9.1 | −0.1 | 7.6 | 0.9 | 1.8 | 2.4 | 5.4 | 3.7 | 46.6 |
| 2012 | 0.7 | 4.8 | 2.4 | −1.8 | −5.9 | −1.6 | −0.4 | 5.4 | 4.6 | 0.4 | 1.1 | 2.1 | 11.8 |
| 2011 | 5.9 | 0.7 | −1.3 | 2.0 | −2.4 | −4.1 | −5.8 | −7.1 | −1.0 | 4.7 | −6.7 | 1.2 | −13.9 |
| 2010 | −6.4 | −2.2 | 3.4 | −3.7 | −3.0 | −4.0 | 5.7 | −4.4 | 4.3 | 2.0 | −4.3 | 0.3 | −12.5 |
| 2009 | −3.7 | −11.1 | −1.8 | 10.5 | 3.5 | −5.0 | 6.7 | 4.7 | −3.6 | 1.1 | 1.2 | 1.4 | 2.1 |
| 2008 | −3.3 | 2.8 | 1.3 | −0.8 | −11.6 | −0.6 | 4.8 | −6.6 | −5.3 | −5.3 | −2.9 | −25.3 |
Total return each month in %, distributions reinvested, before franking. The latest month runs to the last price date. The first year starts from listing.
Top holdings
Most similar funds
Overlap is the share of the portfolio held in common, look-through. Correlation is of daily returns. High overlap means close substitutes.
IEU questions answered
Written from the latest data on this page. General information only, not financial advice.
How diversified is iShares Europe ETF?
iShares Europe ETF holds 352 securities, and its ten largest positions make up 21.4% of the fund, more spread out than the 40.5% typical of equity funds. That makes it widely diversified.
Its largest country exposure is United Kingdom at 23.5%, and its biggest sector is Financials at 27.3%, based on holdings as at 2 Sept 2026.
Which ETFs does IEU double up with most?
IEU shares the most holdings with Vanguard FTSE Europe Shares ETF (VEQ) (78% overlap), Betashares Global Shares EX US ETF (EXUS) (48% overlap) and Betashares Europe ETF - Currency Hedged (HEUR) (35% overlap). Overlap is the share of the portfolio the two funds hold in common, looking through to the underlying securities.
At 78%, owning both IEU and VEQ would mostly double up on the same investments rather than spread your money further. Of these, VEQ has the lowest fee, at 0.35% a year against 0.59% for IEU.
How is iShares Europe ETF managed – active or passive?
iShares Europe ETF is passively managed: it follows an index and holds what that index holds, rather than relying on a manager's stock picks.
Among equity funds, active funds charge a median 0.85% a year and index funds 0.43%.
What will I pay in fees for IEU?
IEU charges a management fee of 0.59% a year, about $59 for every $10,000 invested. Only 31% of the 471 ASX ETFs we track charge more, and the median fee is 0.44%. Among equity funds, the median is 0.49%.
Lower-cost funds with a similar focus include Vanguard FTSE Europe Shares ETF (VEQ) at 0.35% and Betashares Europe ETF - Currency Hedged (HEUR) at 0.56%.
The fee is taken from the fund's assets and is already reflected in its returns. You'll also pay brokerage when you buy or sell, and the bid-ask spread, which has averaged 0.06% for IEU.
Does iShares Europe ETF follow a theme?
No. iShares Europe ETF is a broad equity fund: it aims to cover a wide slice of its market (Europe) rather than one theme or sector. Its largest sector, Financials, is 27.3% of the fund.
What is under the hood of IEU?
As at 2 Sept 2026, IEU's ten largest holdings are Asml Holding (4.6%), Hsbc Holdings PLC (2.5%), Roche Ps Par AG (2.1%), Novartis AG (2.1%), Shell PLC (1.9%), Astrazeneca PLC (1.8%), Nestle SA (1.8%), Siemens N AG (1.6%), Banco Santander (1.6%) and Sap (1.5%). Together they make up 21.4% of the fund.
It follows an index. Most broad share indices weight companies by market size, so the largest companies take the biggest share; the exact rules for IEU's index are in the issuer's PDS. Its top 10 weighting of 21.4% compares with 40.5% for similar funds.
How well has iShares Europe ETF performed?
Based on its category, iShares Europe ETF aims to grow your capital in line with the index it tracks.
To 23 Oct 2026, with distributions reinvested, it returned 2.2% over 1 year (median 4.8%; ranked 168 of 273), 14.1% a year over 3 years (median 14.4% a year; ranked 106 of 199) and 9.5% a year over 5 years (median 8.0% a year; ranked 62 of 156). The medians and rankings compare it with equity funds. Since listing in 2009 it has returned 4.3% a year.
Tracking difference is the gap between a fund's return and its index's return. We don't hold index returns, so we can't measure it for IEU; the issuer reports it in the monthly fact sheet. As a guide, a well-run index fund trails its index by about its fee, here 0.59% a year, and a much bigger gap is a warning sign.
Past performance is not a reliable indicator of future performance.