FEZ vs IEV: Grades, Fees and Holdings Compared

State Street SPDR EURO STOXX 50 ETF

FEZANYSE Arca

iShares Europe ETF

IEVBNYSE Arca

Overlap

31.7%by weight

Expense ratio

FEZ −0.31pt a year

FEZ0.29%IEV0.60%

Avg volume · 30D

FEZ 8.4×the volume

FEZ857KIEV102K

10Y return · a year

FEZ +0.6pt

FEZ+10.1%IEV+9.5%

FEZ vs IEV Performance

Oct 29, 2021 – Oct 30, 2026

+58.5%FEZ+51.7%IEV

Expense ratio: FEZ 0.29%, better; IEV 0.60%
Fund size: FEZ $4.16B; IEV $1.56B
1Y total return: FEZ +6.9%; IEV +12.0%, better
Yield (12M): FEZ 2.81%; IEV 2.83%, better
Holdings: FEZ 53; IEV 371
Avg volume (30D): FEZ 857K sh, better; IEV 102K sh
NAV per share: FEZ $65.89; IEV $71.71
52W range

ETF.net Grade

Pillar letters and Scores for FEZ, IEV, with each pillar’s weight
Pillar	FEZ	IEV
Cost30% weight	A72Higher	F21
Mission25% weight	A100	A100
Risk15% weight	C42	A78Higher
Tradability15% weight	B62	B69Higher
Holdings10% weight	C52	A86Higher
Durability5% weight	A77Higher	B68

Rank among Europe Region funds

How we build Categories ›

Same Category. FEZ and IEV 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 ›

FEZ ranks 4th and IEV 5th of 12 funds in the Europe Region Category.

Rank 1ASPEUState Street SPDR Portfolio Europe ETFScore 85
Rank 2AEZUiShares MSCI Eurozone ETFScore 74
Rank 3AFLEUFranklin FTSE Eurozone ETFScore 73
Rank 4AFEZState Street SPDR EURO STOXX 50 ETFScore 71
Rank 5BIEViShares Europe ETFScore 65
Rank 6BDAXGlobal X DAX Germany ETFScore 64

Our read on each fund

ETF.net Research

FEZAState Street SPDR EURO STOXX 50 ETF

IEVBiShares Europe ETF

In short

FEZ Fifty eurozone blue chips, one ticker, running since 2002. FEZ is the long-standing US-listed route into the euro area's biggest companies, and it charges well below the typical index fund in its peer group.

IEV Trading since 2000, IEV is one of the original ways to own Europe from a US brokerage account: an index of 350 blue chips drawn from 16 developed markets, the whole continent rather than just the eurozone slice.

Stated mandate

FEZ The fund seeks to deliver total returns that generally correspond to the EURO STOXX 50 Index before fees and expenses.

IEV The fund seeks to track an index composed of European equities.

Why people hold it

FEZ Charges 0.29% a year against a 0.45% median for index-tracking funds in its cohort.
Trading since 2002 and among the more actively traded names in its group, so the cost of getting in and out tends to be modest on top of the fee.
Simple job, plainly stated: match the EURO STOXX 50 Index before fees. About 50 holdings, quarterly distributions, no tilts or overlays bolted on.
A $1B-$5B fund from SPDR with a clean structural record and no red flags on the wrapper, which is rare staying power for a single-region equity product.

IEV Continent-wide, not eurozone-only. The S&P Europe 350 pulls blue chips from 16 developed European markets, so UK, Swiss and Nordic giants sit beside the euro-bloc names.spglobal.com
A 2000-vintage fund that has grown into a multi-billion-dollar one with steady day-to-day trading in US hours. Longevity through several full market cycles.
No hunches layered on top: roughly 400 positions, one stated European equity index, and tracking that stays close to it. What you read on the tin is what sits in the basket.

Worth knowing

FEZ About 50 names in one currency bloc. That concentration puts it at the more volatile end of its peer group, and a few European mega-caps drive a lot of the result.
It's a regional slice, not a whole-market holding. Broad global trackers such as VT run 0.06% and reach far wider.
Returns arrive through euro-area shares, so the euro-dollar exchange rate is part of the ride for a US investor. Nothing in the mandate hedges it away.

IEV Cost is the trade-off. The 0.60% expense ratio runs above plain index trackers in the same cohort, where a fund like VT charges 0.06%.
Sixteen markets means many currencies. Euro, pound, franc and krona moves against the dollar land in your return alongside the stocks themselves.spglobal.com
Cash comes in lumps, not a drip: distributions arrive once or twice a year, which is typical for European companies but unlike a monthly payer.

Full FEZ profile⁠

Full IEV profile⁠

FEZ vs IEV Holdings

How FEZ and IEV differ

Overlap by weight

31.7%

Shared holdings make up 87.9% of FEZ and 31.7% of IEV.

Level by level

Holdings42 in both31.7%
Countryby domicile52.8%
Sector11 Sectors87.0%
Asset classEquity100%

Sector

Sector weights in FEZ and IEV, widest gap first
Sector	More in FEZMore in IEV	FEZ	IEV
Technology	FEZ +7.9 points	17.7%	9.8%
Health Care	IEV +7.2 points	5.3%	12.6%
Consumer Staples	IEV +2.5 points	5.6%	8.1%
Consumer Discretionary	FEZ +2.0 points	8.3%	6.3%
Materials	IEV +2.0 points	3.6%	5.6%
Utilities	FEZ +1.3 points	5.8%	4.5%
Financials	FEZ +0.9 points	26.6%	25.7%
Industrials	FEZ +0.8 points	19.5%	18.7%
Real Estate	IEV +0.6 points	0.0%	0.6%
Communication	IEV +0.6 points	2.0%	2.6%
Energy	FEZ +0.1 points	5.6%	5.5%

Country, concentration and asset class

Country by domicile

Country weights in FEZ and IEV, widest gap first
Country	More in FEZMore in IEV	FEZ	IEV
United Kingdom	IEV +24.5 points	0.0%	24.5%
Germany	FEZ +15.7 points	29.7%	14.0%
Switzerland	IEV +15.5 points	0.0%	15.5%
France	FEZ +14.1 points	29.0%	14.9%
Netherlands	FEZ +8.3 points	17.0%	8.7%
Spain	FEZ +4.7 points	10.8%	6.1%
Sweden	IEV +3.7 points	1.2%	4.9%
Denmark	IEV +2.7 points	0.0%	2.7%
Other countries (4)	FEZ +3.6 points	12.3%	8.7%

Outside the US: FEZ 100% developed, 0% emerging. IEV 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

FEZ42.9%
IEV22.3%

Securities held

FEZ50
IEV362

Asset class

FEZ: Equity
IEV: Equity

Holdings

Only in FEZ8
In both42
Only in IEV320

Only in FEZ

8 securities, 11.9% of FEZ by weight

Banco Bilbao Vizcaya Argenta2.75%
Siemens Energy AG2.50%
Deutsche Bank AG Registered1.34%
Argenx SE1.14%
Rheinmetall AG1.10%
Engie1.05%
Nokia Oyj1.02%
Ferrari NV0.97%

Only in IEV

320 securities, 67.8% of IEV by weight

Roche Ps Par AG2.51%
Shell2.28%
Novartis AG2.17%
Hsbc Holdings PLC2.14%
Astrazeneca PLC2.11%
Nestle SA1.93%
Ubs Group AG1.06%
Unilever PLC1.02%
Rolls-Royce Holdings PLC1.01%
British American Tobacco0.97%
Bp PLC0.96%
Abb Ltd0.96%
Banco Bilbao Vizcaya Argentaria0.95%
Novo Nordisk Class B0.92%
Zurich Insurance Group AG0.84%
Compagnie Financiere Richemont SA0.79%
Siemens Energy N AG0.77%
Glaxosmithkline0.73%
Rio Tinto0.63%
National Grid PLC0.62%
Bae Systems PLC0.61%
Investor Class B0.58%
Barclays PLC0.55%
Lloyds Banking Group PLC0.53%
Relx PLC0.51%
Glencore PLC0.48%
Deutsche Bank AG0.47%
Natwest Group PLC0.45%
Anglo American PLC0.43%
Compass Group PLC0.41%
Argenx0.41%
Swiss Re AG0.41%
London Stock Exchange Group PLC0.40%
Lonza Group AG0.40%
Rheinmetall AG0.40%
Diageo PLC0.38%
Volvo Class B0.36%
Engie SA0.36%
Assicurazioni Generali0.36%
Ferrari0.35%
Atlas Copco Class A0.35%
Standard Chartered PLC0.35%
Caixabank SA0.34%
E.on N0.34%
Nokia0.34%
Reckitt Benckiser Group PLC0.34%
Tesco PLC0.33%
Societe Generale SA0.33%
Rwe AG0.32%
Sandoz Group AG0.32%

Weight gaps

All 42 Holdings in both funds, largest gap first.

Holding weights in FEZ and IEV, widest gap first
Holding	More in FEZMore in IEV	FEZ	IEV
Asml Holding NV	FEZ +5.84 points	10.28%	4.44%
Sap SE	FEZ +2.98 points	4.73%	1.75%
Siemens AG Reg	FEZ +2.97 points	4.52%	1.55%
Totalenergies SE	FEZ +2.94 points	4.35%	1.41%
Allianz SE Reg	FEZ +2.40 points	3.76%	1.36%
Banco Santander SA	FEZ +2.32 points	3.55%	1.23%
Schneider Electric SE	FEZ +2.13 points	3.23%	1.10%
Iberdrola SA	FEZ +2.01 points	3.09%	1.08%
Airbus SE	FEZ +1.64 points	2.60%	0.96%
Unicredit Spa	FEZ +1.63 points	2.53%	0.90%
Air Liquide SA	FEZ +1.61 points	2.55%	0.94%
Safran SA	FEZ +1.55 points	2.32%	0.77%
L Oreal	FEZ +1.48 points	2.29%	0.81%
Bnp Paribas	FEZ +1.36 points	2.05%	0.69%
Intesa Sanpaolo	FEZ +1.35 points	2.09%	0.74%
Lvmh Moet Hennessy Louis Vui	FEZ +1.32 points	2.12%	0.80%
Deutsche Telekom AG Reg	FEZ +1.27 points	2.00%	0.73%
Sanofi	FEZ +1.22 points	1.92%	0.70%
Ing Groep NV	FEZ +1.21 points	1.87%	0.66%
Axa SA	FEZ +1.14 points	1.70%	0.56%
Anheuser Busch Inbev Sa/Nv	FEZ +1.09 points	1.65%	0.56%
Enel Spa	FEZ +1.06 points	1.63%	0.57%
Infineon Technologies AG	FEZ +1.05 points	1.59%	0.54%
Muenchener Rueckver AG Reg	FEZ +1.00 points	1.59%	0.59%
Vinci SA	FEZ +0.93 points	1.36%	0.43%
Industria De Diseno Textil	FEZ +0.90 points	1.41%	0.51%
Deutsche Boerse AG	FEZ +0.84 points	1.32%	0.48%
Eni Spa	FEZ +0.83 points	1.23%	0.40%
Essilorluxottica	FEZ +0.82 points	1.26%	0.44%
Dhl AG	FEZ +0.81 points	1.25%	0.44%
Nordea Bank Abp	FEZ +0.79 points	1.23%	0.44%
Basf SE	FEZ +0.68 points	1.07%	0.39%
Bayer AG Reg	FEZ +0.66 points	1.06%	0.40%
Prosus NV	FEZ +0.65 points	0.99%	0.34%
Hermes International	FEZ +0.63 points	1.00%	0.37%
Danone	FEZ +0.59 points	0.93%	0.34%
Compagnie De Saint Gobain	FEZ +0.51 points	0.76%	0.25%
Adidas AG	FEZ +0.43 points	0.68%	0.25%
Mercedes Benz Group AG	FEZ +0.43 points	0.66%	0.23%
Koninklijke Ahold Delhaize N	FEZ +0.40 points	0.64%	0.24%
Adyen NV	FEZ +0.39 points	0.58%	0.19%
Bayerische Motoren Werke AG	FEZ +0.28 points	0.43%	0.15%

All 50 FEZ holdings⁠All 361 IEV 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.

FEZ vs IEV Cost

Overpaying IEV vs FEZ

$5,865

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

FEZ 0.29%
$5,952
IEV 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

FEZ 0.29%
IEV 0.60%
Overpaying

Year by year

Year	FEZ	IEV	Overpaying
10	$527	$1,076	$549
20	$2,044	$4,116	$2,072
30	$5,952	$11,817	$5,865

Expense ratio

0.29%FEZ, cheaper
0.60%IEV

FEZ0.29%IEV0.60%

0.07%0.80%

Middle half of Europe Region funds
Median 0.51%

FEZ 4th cheapest of 12 funds

IEV 10th cheapest of 12 funds

FEZ vs IEV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FEZ 2.81%; IEV 2.83%, better
Payout (12M): FEZ $1.83; IEV $2.03
Last payment: FEZ $0.11; IEV $1.28
Ex-dividend: FEZ Sep 21, 2026; IEV Jun 15, 2026
Paid on: FEZ Sep 23, 2026; IEV Jun 18, 2026
Frequency: FEZ Quarterly; IEV Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

FEZQuarterly · 39 paymentsAll FEZ payments⁠

IEVTwice a year · 20 paymentsAll IEV payments⁠

FEZ vs IEV Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: FEZ 14.3%IEV 12.7%, better
Return per unit of riskSharpe ratio, 3 years: FEZ 1.02IEV 1.09, better
Worst fallMax drawdown, 5 years: FEZ −35.1%IEV −30.5%, better
Market sensitivityBeta, 5 years: FEZ 0.95IEV 0.81; Market = 1

FEZ and IEV in the news

All news⁠

News
ECB raises the deposit rate to 2.50% as energy inflation climbs to 14.3%
Sep 10, 2026FEZ
News
Volkswagen's job pledge runs to 2030. Four plants' future starts in 2031
Sep 10, 2026FEZ

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FEZ vs IEV

In short

Stated mandate

Why people hold it

Worth knowing

How FEZ and IEV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FEZ

Only in IEV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

ECB raises the deposit rate to 2.50% as energy inflation climbs to 14.3%

Volkswagen's job pledge runs to 2030. Four plants' future starts in 2031

How FEZ and IEV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FEZ

Only in IEV

Weight gaps