IEV vs SPEU: Grades, Fees and Holdings Compared

iShares Europe ETF

IEVBNYSE Arca

State Street SPDR Portfolio Europe ETF

SPEUANYSE Arca

Overlap

14.4%by weight

Expense ratio

SPEU −0.53pt a year

IEV0.60%SPEU0.07%

Avg volume · 30D

IEV 4.2×the volume

IEV102KSPEU24.5K

10Y return · a year

SPEU +0.2pt

IEV+9.5%SPEU+9.7%

IEV vs SPEU Performance

Oct 29, 2021 – Oct 30, 2026

+51.7%IEV+47.7%SPEU

Expense ratio: IEV 0.60%; SPEU 0.07%, better
Fund size: IEV $1.56B; SPEU $707M
1Y total return: IEV +12.0%, better; SPEU +11.7%
Yield (12M): IEV 2.83%; SPEU 3.60%, better
Holdings: IEV 371; SPEU 1710
Avg volume (30D): IEV 102K sh, better; SPEU 24.5K sh
NAV per share: IEV $71.71; SPEU $54.38
52W range

ETF.net Grade

Pillar letters and Scores for IEV, SPEU, with each pillar’s weight
Pillar	IEV	SPEU
Cost30% weight	F21	A97Higher
Mission25% weight	A100	A100
Risk15% weight	A78	A78
Tradability15% weight	B69Higher	B56
Holdings10% weight	A86Higher	A83
Durability5% weight	B68Higher	C52

Rank among Europe Region funds

How we build Categories ›

Same Category. IEV and SPEU 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 ›

SPEU ranks 1st 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 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

IEVBiShares Europe ETF

SPEUAState Street SPDR Portfolio Europe ETF

In short

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.

SPEU Europe in one line item, priced like a core holding. A 0.07% fee buys the whole STOXX Europe Total Market Index, large caps down to small, in a fund that has been running since 2002.

Stated mandate

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

SPEU The fund seeks to deliver returns generally corresponding to the total return of the STOXX Europe Total Market Index.

Why people hold it

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.

SPEU Charges 0.07% a year, versus a 0.28% median for its peer group. That is core-index pricing on a single-region fund.
Total-market index, not a blue-chip list: over a thousand western European stocks spanning large, mid and small caps.
Launched in 2002, so it has run through multiple European market cycles under State Street.
Mandate is plain and literal: match the total return of one published European index, with no sector or country tilts bolted on.

Worth knowing

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.

SPEU Trading is light next to the giant international funds. Limit orders matter more here, and spreads can widen when volume is thin.
Europe only. Broad international peers like VEU and IXUS cover Asia and emerging markets too, at 0.04% and 0.07%.
Holdings trade in euros, pounds and francs, so currency swings against the dollar move your return alongside the stocks.

Full IEV profile⁠

Full SPEU profile⁠

IEV vs SPEU Holdings

How IEV and SPEU differ

Overlap by weight

14.4%

Shared holdings make up 16.9% of IEV and 14.5% of SPEU.

Level by level

Holdings51 in both14.4%
Countryby domicile91.4%
Sector11 Sectors97.4%
Asset classEquity100%

Sector

Sector weights in IEV and SPEU, widest gap first
Sector	More in IEVMore in SPEU	IEV	SPEU
Financials	IEV +1.5 points	25.7%	24.2%
Technology	IEV +1.0 points	9.8%	8.8%
Real Estate	SPEU +0.8 points	0.6%	1.4%
Energy	SPEU +0.5 points	5.5%	6.0%
Consumer Discretionary	SPEU +0.4 points	6.3%	6.7%
Health Care	SPEU +0.3 points	12.6%	12.9%
Communication	SPEU +0.2 points	2.6%	2.8%
Utilities	SPEU +0.2 points	4.5%	4.7%
Industrials	SPEU +0.1 points	18.7%	18.8%
Materials	Same weight	5.6%	5.6%
Consumer Staples	SPEU +0.1 points	8.1%	8.2%

Country, concentration and asset class

Country by domicile

Country weights in IEV and SPEU, widest gap first
Country	More in IEVMore in SPEU	IEV	SPEU
United Kingdom	IEV +3.0 points	24.5%	21.5%
France	IEV +2.2 points	14.9%	12.7%
Norway	SPEU +1.6 points	0.0%	1.6%
Sweden	SPEU +1.4 points	4.9%	6.3%
Poland	SPEU +1.2 points	0.0%	1.2%
Germany	IEV +1.1 points	14.0%	12.9%
United States	SPEU +1.2 points	0.0%	1.2%
Ireland	SPEU +0.9 points	0.0%	0.9%
Other countries (17)	Same weight	41.6%	41.6%

Outside the US: IEV 100% developed, 0% emerging. SPEU 98% developed, 2% emerging.

Concentration

Weight in the 10 largest Holdings

IEV22.3%
SPEU18.5%

Securities held

IEV362
SPEU1,685

Asset class

IEV: Equity
SPEU: Equity

Holdings

Only in IEV311
In both51
Only in SPEU1,634

Only in IEV

311 securities, 82.5% of IEV by weight

Asml Holding4.44%
Shell2.28%
Hsbc Holdings PLC2.14%
Astrazeneca PLC2.11%
Sap1.75%
Siemens N AG1.55%
Totalenergies1.41%
Allianz1.36%
Banco Santander1.23%
Schneider Electric1.10%
Iberdrola1.08%
Unilever PLC1.02%
Rolls-Royce Holdings PLC1.01%
British American Tobacco0.97%
Airbus Group0.96%
Bp PLC0.96%
Banco Bilbao Vizcaya Argentaria0.95%
Lair Liquide Societe Anonyme Pour0.94%
Novo Nordisk Class B0.92%
Unicredit0.90%
Loreal SA0.81%
Lvmh0.80%
Siemens Energy N AG0.77%
Safran SA0.77%
Intesa Sanpaolo0.74%
Glaxosmithkline0.73%
Deutsche Telekom N AG0.73%
Sanofi SA0.70%
Bnp Paribas SA0.69%
Ing Groep0.66%
Rio Tinto0.63%
National Grid PLC0.62%
Bae Systems PLC0.61%
Muenchener Rueckversicherungs-Gese0.59%
Investor Class B0.58%
Enel0.57%
Axa SA0.56%
Anheuser-Busch Inbev SA0.56%
Barclays PLC0.55%
Infineon Technologies AG0.54%
Lloyds Banking Group PLC0.53%
Relx PLC0.51%
Industria De Diseno Textil SA0.51%
Deutsche Boerse AG0.48%
Glencore PLC0.48%
Deutsche Bank AG0.47%
Natwest Group PLC0.45%
Nordea Bank0.44%
Essilorluxottica SA0.44%
Dhl AG0.44%

Only in SPEU

1,634 securities, 85.4% of SPEU by weight

Asml Holding NV4.03%
Hsbc Holdings PLC1.84%
Banco Santander SA1.68%
Astrazeneca PLC1.67%
Sap SE1.45%
Siemens AG Reg1.39%
Totalenergies SE1.33%
Allianz SE Reg1.15%
Schneider Electric SE0.99%
Shell PLC0.97%
Iberdrola SA0.95%
Rolls Royce Holdings PLC0.88%
Shell PLC0.88%
Unilever PLC0.86%
Bp PLC0.85%
Banco Bilbao Vizcaya Argenta0.84%
British American Tobacco PLC0.81%
Airbus SE0.80%
Air Liquide SA0.78%
Unicredit Spa0.78%
Novo Nordisk A/S B0.77%
Siemens Energy AG0.77%
Safran SA0.71%
L Oreal0.70%
Lvmh Moet Hennessy Louis Vui0.65%
Intesa Sanpaolo0.64%
Bnp Paribas0.63%
Deutsche Telekom AG Reg0.61%
Gsk PLC0.61%
Ing Groep NV0.57%
Rio Tinto PLC0.55%
National Grid PLC0.55%
Bae Systems PLC0.54%
Axa SA0.52%
Anheuser Busch Inbev Sa/Nv0.51%
Enel Spa0.50%
Investor Ab B Shs0.49%
Muenchener Rueckver AG Reg0.49%
Infineon Technologies AG0.49%
Barclays PLC0.48%
Lloyds Banking Group PLC0.47%
Relx PLC0.44%
Industria De Diseno Textil0.43%
Natwest Group PLC0.43%
Glencore PLC0.42%
Vinci SA0.42%
Deutsche Bank AG Registered0.41%
Deutsche Boerse AG0.41%
Essilorluxottica0.39%
Dhl AG0.38%

Weight gaps

All 51 Holdings in both funds, largest gap first.

Holding weights in IEV and SPEU, widest gap first
Holding	More in IEVMore in SPEU	IEV	SPEU
Roche Ps Par AG	IEV +0.40 points	2.51%	2.11%
Nestle SA	IEV +0.33 points	1.93%	1.60%
Novartis AG	IEV +0.29 points	2.17%	1.88%
Ubs Group AG	IEV +0.15 points	1.06%	0.91%
Zurich Insurance Group AG	IEV +0.14 points	0.84%	0.70%
Compagnie Financiere Richemont SA	IEV +0.13 points	0.79%	0.66%
Abb Ltd	IEV +0.11 points	0.96%	0.85%
Swiss Re AG	IEV +0.07 points	0.41%	0.34%
Givaudan SA	IEV +0.06 points	0.28%	0.22%
Lonza Group AG	IEV +0.06 points	0.40%	0.34%
Eqt	SPEU +0.04 points	0.12%	0.16%
Galderma Group N AG	IEV +0.05 points	0.32%	0.27%
Genmab	IEV +0.04 points	0.26%	0.22%
Sandoz Group AG	IEV +0.05 points	0.32%	0.27%
Dsv	IEV +0.04 points	0.30%	0.26%
Sika AG	IEV +0.05 points	0.26%	0.21%
Sandvik	IEV +0.04 points	0.28%	0.24%
Alcon AG	IEV +0.04 points	0.26%	0.22%
Danske Bank	IEV +0.03 points	0.24%	0.21%
Geberit AG	IEV +0.02 points	0.17%	0.15%
Swisscom AG	IEV +0.03 points	0.16%	0.13%
Vestas Wind Systems	IEV +0.02 points	0.20%	0.18%
Holcim Ltd AG	IEV +0.03 points	0.31%	0.28%
Helvetia Baloise Holding N AG	IEV +0.03 points	0.15%	0.12%
Sgs SA	IEV +0.02 points	0.15%	0.13%
Sonova Holding AG	IEV +0.02 points	0.12%	0.10%
Julius Baer Gruppe AG	IEV +0.01 points	0.12%	0.11%
Schindler Holding Par AG	IEV +0.02 points	0.11%	0.09%
Alfa Laval	IEV +0.02 points	0.12%	0.10%
Chocoladefabriken Lindt & Spruengl	IEV +0.02 points	0.08%	0.06%
Kuehne Und Nagel International AG	IEV +0.01 points	0.11%	0.10%
Vat Group AG	IEV +0.02 points	0.14%	0.12%
Boliden	IEV +0.02 points	0.11%	0.09%
Partners Group Holding AG	IEV +0.01 points	0.12%	0.11%
Swiss Prime Site AG	IEV +0.01 points	0.09%	0.08%
Telia Company	IEV +0.01 points	0.08%	0.07%
Logitech International	IEV +0.01 points	0.10%	0.09%
Orsted A/S	IEV +0.01 points	0.07%	0.06%
Straumann Holding AG	IEV +0.01 points	0.10%	0.09%
Barry Callebaut AG	IEV +0.01 points	0.04%	0.03%
The Swatch Group AG	IEV +0.01 points	0.05%	0.04%
Roche Holding AG	SPEU +0.01 points	0.11%	0.12%
Pandora	Same weight	0.06%	0.06%
Schindler Holding AG	Same weight	0.05%	0.05%
Sig Group N AG	IEV +0.01 points	0.04%	0.03%
Tryg	Same weight	0.05%	0.05%
Evolution	IEV +0.01 points	0.06%	0.05%
Temenos AG	IEV +0.01 points	0.04%	0.03%
Chocoladefabriken Lindt & Spruengl	IEV +0.01 points	0.08%	0.07%
Adecco Group AG	IEV +0.01 points	0.04%	0.03%
The Swatch Group AG	IEV +0.01 points	0.02%	0.01%

All 361 IEV holdings⁠All 1,701 SPEU 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.

IEV vs SPEU Cost

Overpaying IEV vs SPEU

$10,337

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

IEV 0.60%
$11,817
SPEU 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

IEV 0.60%
SPEU 0.07%
Overpaying

Year by year

Year	IEV	SPEU	Overpaying
10	$1,076	$128	$948
20	$4,116	$503	$3,613
30	$11,817	$1,480	$10,337

Expense ratio

0.60%IEV
0.07%SPEU, cheaper

SPEU0.07%IEV0.60%

0.07%0.80%

Middle half of Europe Region funds
Median 0.51%

SPEU cheapest of 12 funds

IEV 10th cheapest of 12 funds

IEV vs SPEU Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IEV 2.83%; SPEU 3.60%, better
Payout (12M): IEV $2.03; SPEU $1.94
Last payment: IEV $1.28; SPEU $0.23
Ex-dividend: IEV Jun 15, 2026; SPEU Sep 21, 2026
Paid on: IEV Jun 18, 2026; SPEU Sep 23, 2026
Frequency: IEV Twice a year; SPEU Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IEVTwice a year · 20 paymentsAll IEV payments⁠

SPEUQuarterly · 39 paymentsAll SPEU payments⁠

IEV vs SPEU Risk

Fall from peak · 5 years

IEV
SPEU

Risk facts

VolatilityStd dev, 3 years: IEV 12.7%, betterSPEU 12.9%
Return per unit of riskSharpe ratio, 3 years: IEV 1.09SPEU 1.10, better
Worst fallMax drawdown, 5 years: IEV −30.5%, betterSPEU −32.7%
Market sensitivityBeta, 5 years: IEV 0.81SPEU 0.95; Market = 1

IEV and SPEU in the news

All news⁠

Income Watch
A 25.22% distribution rate met a -0.32% SEC yield as the 10-year paid 5.01%
Sep 20, 2026SPEU

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IEV vs SPEU

In short

Stated mandate

Why people hold it

Worth knowing

How IEV and SPEU differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IEV

Only in SPEU

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

A 25.22% distribution rate met a -0.32% SEC yield as the 10-year paid 5.01%

How IEV and SPEU differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IEV

Only in SPEU

Weight gaps