# Xtrackers S&P Europe ex UK UCITS ETF (XUEK)

**Page:** https://fundology.uk/fund/xuek · ISIN IE00BGV5VM45

## 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, XUEK (Xtrackers S&P Europe ex UK UCITS ETF, ISIN IE00BGV5VM45) closed at £76.56 on the London Stock Exchange. Its ongoing charge is 0.09% a year (about £9 on £10,000). Over the five years to 13/11/2026 its total return was +50.6%, or +17.6% after UK CPIH inflation.

## Summary

Xtrackers S&P Europe ex UK UCITS ETF is an exchange-traded fund (ETF) from Xtrackers, launched in 2019. It tracks the S&P Europe x United Kingdom LargeMidCap. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.09% a year — about £9 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: **£76.56** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | XUEK |
| ISIN | IE00BGV5VM45 |
| Category | European shares |
| Type | ETF |
| Provider | Xtrackers |
| Tracks | S&P Europe x United Kingdom LargeMidCap |
| Income | Distributing |
| Ongoing charge | 0.09% a year (£9 per £10,000) |
| Fund size | £443m |
| Launched | 2019 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 14/01/2019 |

## 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 | +10.73% | +6.81% | income reinvested |
| 3 years | +54.20% | +39.31% | income reinvested |
| 5 years | +50.63% | +17.58% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of Xtrackers S&P Europe ex UK UCITS ETF in pounds (price only, income paid out not included): 2022 −11.7%, 2023 +12.4%, 2024 +0.3%, 2025 +24.3%; 2026 to 13/11/2026 +5.9%. Returns of Xtrackers S&P Europe ex UK UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +8.9%; to 30/09/2025: +13.4%; to 30/09/2024: +13.8%; to 30/09/2023: +16.2%; to 30/09/2022: −15.7%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -11.7% | -19.2% | Price |
| 2023 | +12.4% | +7.9% | Price |
| 2024 | +0.3% | -3.1% | Price |
| 2025 | +24.3% | +20.0% | Price |
| 2026 to 13/11/2026 | +5.9% | +2.5% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 13.76% | -10.88% |
| 3 years | 12.89% | -10.88% |
| 5 years | 14.68% | -22.26% |

## Largest fall

Volatility of Xtrackers S&P Europe ex UK UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 13.8% over 1 year, 12.9% over 3 years, 14.7% over 5 years. Largest fall in the price of Xtrackers S&P Europe ex UK UCITS ETF since November 2021, in pounds: −21.2% from 19/11/2021 to 14/10/2022. The lowest 12-month return of Xtrackers S&P Europe ex UK UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −17.6% (12 months to 14/10/2022); the highest was +24.6% (12 months to 19/12/2025). On 13/11/2026 the price of Xtrackers S&P Europe ex UK UCITS ETF was 4.1% below its highest weekly close since November 2021 (07/08/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of Xtrackers S&P Europe ex UK UCITS ETF 0.09% a year. Compared on 14/11/2026, 224 of the 242 other European share funds charge more, 6 the same and 12 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.09%** per year (as of 13/11/2026)
- 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 15/11/2026, XUEK holds 309 positions, according to its published holdings. The largest is ASML at 5.51% of the fund; the ten largest make up 25.1%.

### Top holdings

Largest positions (as of 15/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | ASML | [ASML](https://fundology.uk/stock/ASML) | 5.51% |
| 2 | Roche | [RO](https://fundology.uk/stock/RO) | 3.20% |
| 3 | Novartis | [NOVN](https://fundology.uk/stock/NOVN) | 2.76% |
| 4 | Nestle | [NESN](https://fundology.uk/stock/NESN) | 2.50% |
| 5 | SAP | [SAP](https://fundology.uk/stock/SAP) | 2.25% |
| 6 | Siemens | [SIE](https://fundology.uk/stock/SIE) | 2.10% |
| 7 | Allianz | [ALV](https://fundology.uk/stock/ALV) | 1.86% |
| 8 | Banco Santander | [SAN](https://fundology.uk/stock/SAN) | 1.72% |
| 9 | TotalEnergies | [TTE](https://fundology.uk/stock/TTE) | 1.70% |
| 10 | Iberdrola | [IBE](https://fundology.uk/stock/IBE) | 1.45% |

## Where it invests

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

### By sector

Added up from the fund’s published holdings, as of 08/11/2026.

| Sector | Weight |
|---|---|
| Financials | 25.6% |
| Industrials | 19.0% |
| Health Care | 14.2% |
| Information Technology | 10.4% |
| Consumer Staples | 7.0% |
| Consumer Discretionary | 6.6% |
| Utilities | 5.0% |
| Materials | 4.7% |
| Other sectors | 7.4% |
| Not classified | 0.2% |

### By country

Added up from the fund’s published holdings, as of 08/11/2026.

| Country | Weight |
|---|---|
| Switzerland | 19.4% |
| France | 17.8% |
| Germany | 17.4% |
| Netherlands | 9.6% |
| Spain | 7.3% |
| Sweden | 6.8% |
| Italy | 6.7% |
| Denmark | 3.5% |
| Other countries | 11.3% |
| Not classified | 0.2% |

### By type of asset

Added up from the fund’s published holdings, as of 08/11/2026.

| Type of asset | Weight |
|---|---|
| Equity | 99.8% |
| Cash and money market | 0.2% |

The 306 holdings on record (of 309 reported): https://fundology.uk/fund/xuek/holdings

## Questions people ask

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

The ongoing charge of XUEK is 0.09% a year — about £9 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 Xtrackers S&P Europe ex UK UCITS ETF 0.09% a year. Compared on 14/11/2026, 224 of the 242 other European share funds charge more, 6 the same and 12 less (share classes counted once).

**What does XUEK track?**

XUEK tracks the S&P Europe x United Kingdom LargeMidCap.

**Is XUEK accumulating or distributing?**

XUEK 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 XUEK?**

The ISIN of XUEK is IE00BGV5VM45. An ISIN identifies one exact share class of a fund; XUEK is its ticker on the London Stock Exchange.

**What does XUEK hold?**

As of 15/11/2026, XUEK holds 309 positions, according to its published holdings. The largest is ASML at 5.51% of the fund; the ten largest make up 25.1%. Its ten largest holdings are ASML (5.51%), Roche (3.20%), Novartis (2.76%), Nestle (2.50%), SAP (2.25%), Siemens (2.10%), Allianz (1.86%), Banco Santander (1.72%), TotalEnergies (1.70%) and Iberdrola (1.45%).

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

Calendar-year returns of XUEK in pounds (price only, income paid out not included): 2022 −11.7%, 2023 +12.4%, 2024 +0.3%, 2025 +24.3%; 2026 to 13/11/2026 +5.9%. Past performance is not a guide to future returns.

**How has XUEK done after inflation?**

Over the five years to 13/11/2026 XUEK’s total return was +50.6%, or +17.6% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at Xtrackers (DWS)](https://etf.dws.com/en-gb/IE00BGV5VM45-s-p-europe-ex-uk-ucits-etf-1d/)
- 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.