ETF · SPDR
ERO State Street SPDR MSCI Europe UCITS ETF
ISIN IE00BKWQ0Q14London Stock Exchange: EROState Street Corp.
- European shares
- ETF
- ISA
- SIPP
- Accumulating
Latest close
LSE£353.73
on
- Ongoing charge
- 0.25% a year
- Fund size
- £330m
As of , at least 15 min delayed
At a glance
As of 13/11/2026, ERO (State Street SPDR MSCI Europe UCITS ETF, ISIN IE00BKWQ0Q14) closed at £353.73 on the London Stock Exchange. Its ongoing charge is 0.25% a year (about £25 on £10,000). Over the five years to 13/11/2026 its total return was +54.9%, or +20.9% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- +10.5%
- +6.6% after inflation (UK CPIH)
- 3 years to 13/11/2026
- +52.5%
- +37.7% after inflation (UK CPIH)
- 5 years to 13/11/2026
- +54.9%
- +20.9% after inflation (UK CPIH)
£1,000 put in five years ago would have been worth about £1,549 on 13/11/2026 — about £1,209 in today’s spending power, once price rises are taken out. Past performance is not a guide to future returns.
Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of State Street SPDR MSCI Europe UCITS ETF in pounds (price, with income reinvested in the fund): 2022 −3.8%, 2023 +13.0%, 2024 +4.2%, 2025 +26.0%; 2026 to 13/11/2026 +9.6%. Returns of State Street SPDR MSCI Europe UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +13.3%; to 30/09/2025: +14.4%; to 30/09/2024: +15.6%; to 30/09/2023: +17.8%; to 30/09/2022: −7.9%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | +9.6% | +6.1% | |
| to | +26.0% | +21.7% | |
| to | +4.2% | +0.7% | |
| +13.0% | +8.5% | ||
| −3.8% | −11.9% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | +13.3% | +9.3% |
| from | +14.4% | +10.0% |
| from | +15.6% | +12.7% |
| from | +17.8% | +10.7% |
| from | −7.9% | −15.4% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
13.6%over 5 years
| 1 year | 13.7% |
|---|---|
| 3 years | 12.1% |
| 5 years | 13.6% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since November 2021
- −13.8%
- From to
- Lowest 12-month return
- −10.2%
- 12 months to
- Highest 12-month return
- +29.5%
- 12 months to
- Below its highest weekly close since November 2021
- 1.7%
- High of , latest
In words: Volatility of State Street SPDR MSCI Europe UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 13.7% over 1 year, 12.1% over 3 years, 13.6% over 5 years. Largest fall in the price of State Street SPDR MSCI Europe UCITS ETF since November 2021, in pounds: −13.8% from 31/12/2021 to 04/03/2022. The lowest 12-month return of State Street SPDR MSCI Europe UCITS ETF in pounds (price, with income reinvested in the fund) since January 2021 was −10.2% (12 months to 14/10/2022); the highest was +29.5% (12 months to 10/04/2026). On 13/11/2026 the price of State Street SPDR MSCI Europe UCITS ETF was 1.7% below its highest weekly close since November 2021 (07/08/2026), in pounds.
As of , price, with income reinvested in the fund
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.25%
- a year
- On £10,000
- £25
- a year, roughly
- Over five years
- £124
- of £10,000, before growth
- 130 charge less
- 24 the same
- 88 charge more
Ongoing charge of State Street SPDR MSCI Europe UCITS ETF 0.25% a year. Compared on 14/11/2026, 88 of the 242 other European share funds charge more, 24 the same and 130 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
State Street SPDR MSCI Europe UCITS ETF is an exchange-traded fund (ETF) from SPDR, launched in 2014.
It tracks the MSCI Europe — large and medium-sized European companies.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.25% a year — about £25 a year on every £10,000 invested, taken from the fund's value rather than billed to you.
Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
European shares: Companies across Europe. Some funds include the UK and some leave it out — the fund name says which.
Terms:ETFIndex fundUCITSAccumulating or incomeShare classISIN
Key facts
- Ticker
- ERO
- ISIN
- IE00BKWQ0Q14
- Also listed as
- SPYE (Xetra, euros)
- Provider
- SPDR
- Tracks
- MSCI Europe
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Accumulating
- Income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
- Ongoing charge
- 0.25% a year · about £25 on £10,000
- Fund size
- £330m
- Launched
- Domicile
- Ireland
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- No
- Price currency
- Pounds (GBP)
- Category
- European shares
Price chart
Over the last year, the closing price went from £316.00 on 14/11/2025 to £353.73 on 13/11/2026 (+11.9%). The lowest close shown was £307.65 on 21/11/2025 and the highest £359.80 on 07/08/2026.
One close a week. Before 25/08/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded.
As of , at least 15 min delayed
Five years of prices, and after inflation
258 weekly closes, from 12/11/2021 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
What it holds
- Holdings
- 381
- on record
- Ten largest
- 21.7%
- of the whole fund
- Effective number of holdings
- 113
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 3.9%
- ASML
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | ASMLASMLInformation TechnologyNetherlands | 3.91% |
| 2 | RocheROHealth CareSwitzerland | 2.53% |
| 3 | HSBCHSBAFinancialsUnited Kingdom | 2.17% |
| 4 | NovartisNOVNHealth CareSwitzerland | 2.16% |
| 5 | ShellSHELEnergyUnited Kingdom | 2.11% |
| 6 | AstraZenecaAZNHealth CareUnited Kingdom | 2.05% |
| 7 | NestleNESNConsumer StaplesSwitzerland | 1.98% |
| 8 | SAPSAPInformation TechnologyGermany | 1.76% |
| 9 | SiemensSIEIndustrialsGermany | 1.60% |
| 10 | AllianzALVFinancialsGermany | 1.41% |
As of , holdings as published
Where it invests
The portfolio by sector, country and type of asset, as a share of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.
By sector
- Financials24.7%
- Industrials17.6%
- Health Care14.3%
- Consumer Staples9.3%
- Information Technology8.0%
- Consumer Discretionary6.3%
- Energy5.5%
- Materials5.4%
- Other sectors8.8%
By country
- United Kingdom22.8%
- Switzerland15.4%
- France14.8%
- Germany13.8%
- Netherlands7.9%
- Spain6.1%
- Sweden5.5%
- Italy4.9%
- Other countries8.8%
See the full portfolio
Every holding with search and filters, the whole breakdown by sector, country and type of asset, a map of the 100 largest and what changed since .
More of the portfolio
The fund publishes 381 holdings; the ten largest make up 21.7% of it. The fund's portfolio is also split by currency.
Create a free account to see the full holdings list and the currency, maturity and credit-quality breakdowns
Sign-up takes an email address. There is no card to enter and nothing to pay.
Holdings:Compare what it holds with another fundHoldings overlapHow overlap is measured
Funds tracking the same index
16 funds track MSCI Europe, this one included and share classes counted once; their ongoing charges range from 0.07% to 0.31% a year (13/11/2026).
| Fund | Charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Amundi Index Solutions - MSCI Europe UCITS ETF DRAccumulating · 0.15% a year | 0.15% | +10.5% | +52.7% | +55.4% |
| Amundi Index Solutions - MSCI Europe UCITS ETF DR DistDistributing · 0.20% a year | 0.20% | +10.5% | +52.7% | +55.4% |
| BNP PARIBAS EASY MSCI EUROPE ETF Capitalisation -UCITS ETF-Accumulating · 0.28% a year | 0.28% | +10.3% | Not reported | Not reported |
| Deka MSCI Europe UCITS ETFDistributing · 0.30% a year | 0.30% | +11.0% | +53.1% | +54.6% |
| HSBC MSCI Europe UCITS ETF Accum EURAccumulating · 0.14% a year | 0.14% | +11.4% | Not reported | Not reported |
| HSBC MSCI Europe UCITS ETF EURDistributing · 0.14% a year | 0.14% | +11.4% | +54.2% | +55.8% |
| Invesco MSCI Europe UCITS ETFAccumulating · 0.19% a year | 0.19% | +11.2% | +53.7% | +55.0% |
| iShares Core MSCI Europe UCITS ETFDistributing · 0.12% a year | 0.12% | +11.4% | +54.2% | +56.0% |
| iShares Core MSCI Europe UCITS ETFAccumulating · Currency hedged · 0.17% a year | 0.17% | +16.4% | +64.6% | +145.0% |
| iShares Core MSCI Europe UCITS ETF EUR (Acc)Accumulating · 0.12% a year | 0.12% | +11.4% | +54.3% | +56.0% |
| State Street SPDR MSCI Europe UCITS ETFThis fundAccumulating · 0.25% a year | 0.25% | +10.5% | +52.5% | +54.9% |
| UBS Core MSCI Europe UCITS ETF EUR dis- DistributionDistributing · 0.07% a year | 0.07% | +10.6% | +53.0% | +55.6% |
| UBS Core MSCI Europe UCITS ETF Capitalisation AAccumulating · 0.10% a year | 0.10% | +10.4% | Not reported | Not reported |
| Xtrackers MSCI EUROPE UCITS ETF Capitalisation 1CAccumulating · 0.13% a year | 0.13% | +11.4% | +54.5% | +55.4% |
| Xtrackers MSCI EUROPE UCITS ETF Capitalisation 2CAccumulating · Currency hedged · 0.31% a year | 0.31% | +17.3% | +53.9% | +75.1% |
| Xtrackers MSCI EUROPE UCITS ETF Distribution 1DDistributing · 0.13% a year | 0.13% | +11.2% | +54.5% | +55.7% |
As of
MSCI Europe funds compared: charges, sizes and share classes
Read more:Index fundsTracking differenceHow funds are compared
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1, 3 and 5 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 248 rolling 12-month returns since January 2021, and of 144 rolling three-year returns, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The 3 largest falls since November 2021, in pounds, with how many weeks each took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Rank among similar funds
Rank by total return over 1, 3 and 5 years among up to 210 European share funds, not currency-hedged, highest first.
ProMoves compared with a similar fund
Correlation and beta of weekly returns in pounds against iShares Core MSCI Europe UCITS ETF EUR (Acc), over the three years to 13/11/2026 (124 weeks).
Pro
Pro — currently by invitation
Pro includes the rank among similar funds and moves against a comparable fund
Pro is open by invitation while it is being built. There is nothing to buy. To ask about access, email [email protected].
Questions people ask
What is the ongoing charge of ERO?
The ongoing charge of ERO is 0.25% a year — about £25 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of State Street SPDR MSCI Europe UCITS ETF 0.25% a year. Compared on 14/11/2026, 88 of the 242 other European share funds charge more, 24 the same and 130 less (share classes counted once).
What does ERO track?
ERO tracks the MSCI Europe — large and medium-sized European companies.
Is ERO accumulating or distributing?
ERO is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
What is the ISIN of ERO?
The ISIN of ERO is IE00BKWQ0Q14. An ISIN identifies one exact share class of a fund; ERO is its ticker on the London Stock Exchange. The same share class is also listed as SPYE (Xetra, euros).
What does ERO hold?
As of 05/11/2026, ERO holds 381 positions, according to its published holdings. The largest is ASML at 3.91% of the fund; the ten largest make up 21.7%. Its ten largest holdings are ASML (3.91%), Roche (2.53%), HSBC (2.17%), Novartis (2.16%), Shell (2.11%), AstraZeneca (2.05%), Nestle (1.98%), SAP (1.76%), Siemens (1.60%) and Allianz (1.41%).
What were ERO’s returns in each of the last five years?
Calendar-year returns of ERO in pounds (price, with income reinvested in the fund): 2022 −3.8%, 2023 +13.0%, 2024 +4.2%, 2025 +26.0%; 2026 to 13/11/2026 +9.6%. Past performance is not a guide to future returns.
How has ERO done after inflation?
Over the five years to 13/11/2026 ERO’s total return was +54.9%, or +20.9% after UK CPIH inflation. Past performance is not a guide to future returns.
Similar funds
- MEUDAmundi Core Stoxx Europe 600 -UCITS ETF Acc- Capitalisation0.07% a year · £19bn
- SMEAiShares Core MSCI Europe UCITS ETF EUR (Acc)0.12% a year · £14bn
- IMEUiShares Core MSCI Europe UCITS ETF0.12% a year · £9.2bn
- 0MLJiShares Core EURO STOXX 50 UCITS ETF (DE)0.11% a year · £8.3bn
- 0MLDiShares STOXX Europe 600 UCITS ETF0.20% a year · £8.2bn
- 0MLHiShares Core DAX UCITS ETF (DE)0.16% a year · £7.5bn
- XMEUXtrackers MSCI EUROPE UCITS ETF Capitalisation 1C0.13% a year · £6.9bn
- CS51iShares Core EURO STOXX 50 UCITS ETF0.10% a year · £6.5bn
Fund documents and methods
- Fund documents
- Fund page at State Street Global Advisors · Key investor information document (KIID) · Factsheet (links checked )
Methodology:ReturnsCategoriesAll methods
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