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EZU vs FGM

iShares MSCI Eurozone ETF

EZUACboe

First Trust Germany AlphaDEX Fund

FGMCNasdaq

Overlap

Expense ratio

EZU −0.30pt a year

EZU0.50%FGM0.80%

Avg volume · 30D

EZU 376.3×the volume

EZU977KFGM2.6K

10Y return · a year

EZU +2.4pt

EZU+9.5%FGM+7.1%

EZU vs FGM Performance

Oct 29, 2021 – Oct 30, 2026

+49.7%EZU+18.5%FGM

Oct 29, 2021 to Oct 30, 2026. EZU +49.7%. FGM +18.5%. Use the arrow keys to read each point.−50%−25%0%Oct 2021Apr 2024Oct 2026
Expense ratio
EZU 0.50%, better
FGM 0.80%
Fund size
EZU $9.13B
FGM $86M
1Y total return
EZU +7.7%, better
FGM +0.6%
Yield (12M)
EZU 2.83%, better
FGM 1.86%
Holdings
EZU 220
FGM 43
Avg volume (30D)
EZU 977K sh, better
FGM 2.6K sh
NAV per share
EZU $65.37
FGM $57.63
52W range

ETF.net Grade

EZU: Cost 59, Risk 46, Mission 100, Tradability 89, Holdings 72, Durability 81. FGM: Cost 7, Risk 15, Mission 94, Tradability 43, Holdings 56, Durability 36.
Pillar letters and Scores for EZU, FGM, with each pillar’s weight
PillarEZUFGM
Cost30% weightB59HigherF7
Mission25% weightA100HigherA94
Risk15% weightC46HigherF15
Tradability15% weightA89HigherC43
Holdings10% weightA72HigherB56
Durability5% weightA81HigherD36

Rank among Europe Region funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. EZU and FGM are both graded against the same 12 Europe Region funds, so their Grades compare head to head.

Europe Region⁠

Category · 12 funds
See all 12 ›

EZU ranks 2nd and FGM 10th of 12 funds in the Europe Region Category.

  1. Rank 1ASPEUState Street SPDR Portfolio Europe ETFScore 85
  2. Rank 2AEZUiShares MSCI Eurozone ETFScore 74
  3. Rank 3AFLEUFranklin FTSE Eurozone ETFScore 73
  4. Rank 9CHEDJWisdomTree Europe Hedged Equity FundScore 43
  5. Rank 10CFGMFirst Trust Germany AlphaDEX FundScore 41
  6. Rank 11CGREKGlobal X MSCI Greece ETFScore 40

Our read on each fund

ETF.net Research

EZUAiShares MSCI Eurozone ETF

FGMCFirst Trust Germany AlphaDEX Fund

In short

EZU Europe minus the UK, Switzerland and the Nordics. EZU holds only developed countries that use the euro, about 220 large and mid caps, and it has been doing that job since 2000.

FGM Most Germany ETFs hand you the blue chips in market-cap order. FGM screens German stocks on growth and value marks and weights them by rank instead, landing on roughly 40 names. A different Germany, at a premium price.

Stated mandate

EZU The fund seeks to track an index of large- and mid-cap equities from developed countries that use the euro, providing diversified Eurozone equity exposure.

FGM The Fund seeks to track, before fees and expenses, the Nasdaq AlphaDEX® GermanyTM Index, an equity index focused on companies assigned to Germany.

Why people hold it

  • EZU The euro-only cut of Europe: the MSCI EMU index covers large and mid caps in developed countries inside the currency union, so no UK, Swiss or Nordic names ride along.msci.com
  • Trading since 2000 and now a multi-billion-dollar, actively traded fund, one of the established ways to own the Eurozone through a single US-listed ticker.
  • Roughly 220 stocks reaching about 85% of the euro bloc's free-float market value: the whole currency union, not a country or sector wager.msci.com
  • Tracking is the strong suit here. It has followed its benchmark closely, which is most of the job description for a plain index wrapper.
  • FGM Not a cap-weighted rerun: the AlphaDEX screen ranks German companies on growth and value measures, then weights by rank rather than size.
  • Roughly 40 holdings, so the screen actually shows up in the portfolio instead of getting diluted across a broad market list.
  • Running since 2012 and still doing one job: German equities, one named index, tracked closely.

Worth knowing

  • EZU 0.50% a year sits above the 0.45% median for index wrappers in its group and far above global one-fund options like VT at 0.06%.
  • Currency comes with the package. The euro's moves against the dollar flow straight into your dollar return; iShares runs HEZU on the same index for the hedged version.ishares.com
  • Large and mid caps only. Eurozone small caps and non-euro Europe (UK, Switzerland) sit outside the mandate by design.msci.com
  • FGM At 0.80% a year it sits above most single-country Europe funds, and four times the 0.20% charged by the cheapest German blue-chip tracker (DAX).
  • A small fund that trades lightly next to the big country ETFs, so spreads and order size are worth watching.
  • One country, one screen, few dozen stocks: the ride follows Germany's cycle and the factor tilt, not a diversified basket.

Full EZU profile⁠

Full FGM profile⁠

EZU vs FGM Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EZU vs FGM Cost

Overpaying FGM vs EZU

$5,367

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • EZU 0.50%

    $9,979

  • FGM 0.80%

    $15,346

$10,000
30 years

Cost over time

  • EZU 0.50%
  • FGM 0.80%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FGM $15,346EZU $9,979

Year by year

YearEZUFGMOverpaying
10$900$1,422$522
20$3,460$5,393$1,933
30$9,979$15,346$5,367

Expense ratio

  • 0.50%EZU, cheaper
  • 0.80%FGM
  • Middle half of Europe Region funds
  • Median 0.51%

EZU 5th cheapest of 12 funds

FGM 11th cheapest of 12 funds

EZU vs FGM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
EZU 2.83%, better
FGM 1.86%
Payout (12M)
EZU $1.84
FGM $1.07
Last payment
EZU $1.23
FGM $0.19
Ex-dividend
EZU Jun 15, 2026
FGM Sep 24, 2026
Paid on
EZU Jun 18, 2026
FGM Sep 30, 2026
Frequency
EZU Twice a year
FGM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EZUTwice a year · 20 paymentsAll EZU payments⁠
One bar per payment. 20 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.64; Dec 19, 2017 $0.19; Jun 19, 2018 $1.03; Dec 18, 2018 $0.19; Jun 17, 2019 $1.02; Dec 16, 2019 $0.17; Jun 15, 2020 $0.32; Dec 14, 2020 $0.62; Jun 10, 2021 $0.48; Dec 13, 2021 $0.60; Dec 30, 2021 $0.12; Jun 9, 2022 $0.93; Dec 13, 2022 $0.17; Jun 7, 2023 $0.86; Dec 20, 2023 $0.35; Jun 11, 2024 $1.04; Dec 17, 2024 $0.33; Jun 16, 2025 $1.22; Dec 16, 2025 $0.61; Jun 15, 2026 $1.23. Use the arrow keys to read each point.$0$12017202020232026YTD
FGMQuarterly · 28 paymentsAll FGM payments⁠
One bar per payment. 28 payments from 2017 to 2026 YTD. Mar 23, 2017 $0.04; Jun 22, 2017 $0.58; Sep 21, 2017 $0.46; Mar 22, 2018 $0.0017; Jun 21, 2018 $0.68; Sep 14, 2018 $0.14; Jun 14, 2019 $0.80; Sep 25, 2019 $0.16; Dec 13, 2019 $0.06; Jun 25, 2020 $0.26; Sep 24, 2020 $0.14; Dec 24, 2020 $0.29; Jun 24, 2021 $0.54; Sep 23, 2021 $0.06; Dec 23, 2021 $0.17; Mar 25, 2022 $0.15; Jun 24, 2022 $1.15; Sep 23, 2022 $0.42; Dec 23, 2022 $0.20; Jun 27, 2023 $0.70; Dec 22, 2023 $0.40; Mar 21, 2024 $0.15; Jun 27, 2024 $0.80; Dec 13, 2024 $0.03; Jun 26, 2025 $0.38; Dec 12, 2025 $0.04; Jun 25, 2026 $0.84; Sep 24, 2026 $0.19. Use the arrow keys to read each point.$0$12017202020232026YTD

EZU vs FGM Risk

Fall from peak · 5 years

  • EZU
  • FGM
Oct 29, 2021 to Oct 30, 2026. Worst fall: FGM −48.3% · Oct 2022. Use the arrow keys to read each point.−50%−40%−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
EZU 13.9%, betterFGM 18.2%
Return per unit of riskSharpe ratio, 3 years
EZU 1.06, betterFGM 0.95
Worst fallMax drawdown, 5 years
EZU −36.0%, betterFGM −48.3%
Market sensitivityBeta, 5 years
EZU 0.91FGM 1.16

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