# iShares MSCI Europe ex-UK UCITS ETF (IEUX)

**Page:** https://fundology.uk/fund/ieux · ISIN IE00B14X4N27

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, IEUX (iShares MSCI Europe ex-UK UCITS ETF, ISIN IE00B14X4N27) closed at £47.43 on the London Stock Exchange. Its ongoing charge is 0.40% a year (about £40 on £10,000). Over the five years to 13/11/2026 its total return was +47.8%, or +15.4% after UK CPIH inflation.

## Summary

iShares MSCI Europe ex-UK UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2006. It tracks the MSCI Europe ex UK — 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 0.4% a year — about £40 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year.

Latest close: **£47.43** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | IEUX |
| ISIN | IE00B14X4N27 |
| Also listed as | IQQU (Xetra, euros) |
| Category | European shares |
| Type | ETF |
| Provider | iShares |
| Tracks | MSCI Europe ex UK |
| Income | Distributing |
| Ongoing charge | 0.40% a year (£40 per £10,000) |
| Fund size | £1.1bn |
| Launched | 2006 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 12/06/2010 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +10.74% | +6.82% | income reinvested |
| 3 years | +51.17% | +36.58% | income reinvested |
| 5 years | +47.82% | +15.38% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of iShares MSCI Europe ex-UK UCITS ETF in pounds (price only, income paid out not included): 2022 −9.2%, 2023 +12.1%, 2024 −0.4%, 2025 +23.6%; 2026 to 13/11/2026 +6.4%. Returns of iShares MSCI Europe ex-UK UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +8.7%; to 30/09/2025: +12.5%; to 30/09/2024: +13.3%; to 30/09/2023: +16.3%; to 30/09/2022: −13.8%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -9.2% | -16.9% | Price |
| 2023 | +12.1% | +7.7% | Price |
| 2024 | -0.4% | -3.8% | Price |
| 2025 | +23.6% | +19.4% | Price |
| 2026 to 13/11/2026 | +6.4% | +3.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 14.06% | -10.82% |
| 3 years | 13.18% | -10.82% |
| 5 years | 14.88% | -20.43% |

## Largest fall

Volatility of iShares MSCI Europe ex-UK UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 14.1% over 1 year, 13.2% over 3 years, 14.9% over 5 years. Largest fall in the price of iShares MSCI Europe ex-UK UCITS ETF since November 2021, in pounds: −19.2% from 19/11/2021 to 30/09/2022. The lowest 12-month return of iShares MSCI Europe ex-UK UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −15.7% (12 months to 14/10/2022); the highest was +24.4% (12 months to 17/04/2026). On 13/11/2026 the price of iShares MSCI Europe ex-UK UCITS ETF was 2.5% below its highest weekly close since November 2021 (07/08/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares MSCI Europe ex-UK UCITS ETF 0.40% a year. Compared on 14/11/2026, 28 of the 242 other European share funds charge more, 8 the same and 206 less (share classes counted once).

## Funds tracking the same index

2 funds track MSCI Europe ex UK, this one included and share classes counted once; their ongoing charges range from 0.20% to 0.40% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Invesco MSCI Europe ex-UK UCITS ETF | 0.20% | +10.9% | +51.7% | +48.5% |
| iShares MSCI Europe ex-UK UCITS ETF (this fund) | 0.40% | +10.7% | +51.2% | +47.8% |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.40%** per year
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 06/11/2026, IEUX holds 320 positions, according to its published holdings. The largest is ASML at 5.22% of the fund; the ten largest make up 24.4%.

### Top holdings

Largest positions (as of 06/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | ASML | [ASML](https://fundology.uk/stock/ASML) | 5.22% |
| 2 | Roche Ps Par | — | 3.14% |
| 3 | Novartis | [NOVN](https://fundology.uk/stock/NOVN) | 2.79% |
| 4 | Nestle | [NESN](https://fundology.uk/stock/NESN) | 2.53% |
| 5 | SAP | [SAP](https://fundology.uk/stock/SAP) | 2.24% |
| 6 | Siemens | [SIE](https://fundology.uk/stock/SIE) | 2.00% |
| 7 | Allianz | [ALV](https://fundology.uk/stock/ALV) | 1.79% |
| 8 | TotalEnergies | [TTE](https://fundology.uk/stock/TTE) | 1.62% |
| 9 | Banco Santander | [SAN](https://fundology.uk/stock/SAN) | 1.60% |
| 10 | Iberdrola | [IBE](https://fundology.uk/stock/IBE) | 1.47% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By sector

As published for the fund, as of 06/11/2026.

| Sector | Weight |
|---|---|
| Financials | 24.4% |
| Industrials | 19.0% |
| Health Care | 14.3% |
| Information Technology | 10.4% |
| Consumer Staples | 7.4% |
| Consumer Discretionary | 6.9% |
| Utilities | 5.0% |
| Materials | 4.8% |
| Other sectors | 7.7% |

### By country

As published for the fund, as of 06/11/2026.

| Country | Weight |
|---|---|
| Switzerland | 19.8% |
| France | 19.1% |
| Germany | 17.6% |
| Netherlands | 10.6% |
| Spain | 7.8% |
| Sweden | 7.1% |
| Italy | 6.3% |
| Denmark | 3.4% |
| Other countries | 8.3% |

### By type of asset

Added up from the fund’s published holdings, as of 06/11/2026.

| Type of asset | Weight |
|---|---|
| Equity | 99.6% |
| Cash and money market | 0.4% |

All 326 holdings: https://fundology.uk/fund/ieux/holdings

## Questions people ask

**What is the ongoing charge of IEUX?**

The ongoing charge of IEUX is 0.40% a year — about £40 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 iShares MSCI Europe ex-UK UCITS ETF 0.40% a year. Compared on 14/11/2026, 28 of the 242 other European share funds charge more, 8 the same and 206 less (share classes counted once).

**What does IEUX track?**

IEUX tracks the MSCI Europe ex UK — large and medium-sized European companies.

**Is IEUX accumulating or distributing?**

IEUX is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly.

**What is the ISIN of IEUX?**

The ISIN of IEUX is IE00B14X4N27. An ISIN identifies one exact share class of a fund; IEUX is its ticker on the London Stock Exchange. The same share class is also listed as IQQU (Xetra, euros).

**What does IEUX hold?**

As of 06/11/2026, IEUX holds 320 positions, according to its published holdings. The largest is ASML at 5.22% of the fund; the ten largest make up 24.4%. Its ten largest holdings are ASML (5.22%), Roche Ps Par (3.14%), Novartis (2.79%), Nestle (2.53%), SAP (2.24%), Siemens (2.00%), Allianz (1.79%), TotalEnergies (1.62%), Banco Santander (1.60%) and Iberdrola (1.47%).

**What were IEUX’s returns in each of the last five years?**

Calendar-year returns of IEUX in pounds (price only, income paid out not included): 2022 −9.2%, 2023 +12.1%, 2024 −0.4%, 2025 +23.6%; 2026 to 13/11/2026 +6.4%. Past performance is not a guide to future returns.

**How has IEUX done after inflation?**

Over the five years to 13/11/2026 IEUX’s total return was +47.8%, or +15.4% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at iShares](https://www.ishares.com/uk/individual/en/products/251863/ishares-msci-europe-exuk-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-msci-europe-ex-uk-ucits-etf-eur-dist-gb-ie00b14x4n27-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/ieux-ishares-msci-europe-ex-uk-ucits-etf-fund-fact-sheet-en-gb.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.