IEU invests in 350 large European companies, such as ASML, Roche and Shell. It charges 0.58% a year, has $1.3b invested and returned +8.3% over the past year. The most similar ETF is VEQ, which overlaps with it by about 76%.
📅 As at 30 September 2026: fee, size and 1-year return from the TMX Australia funds report; holdings and overlap from IEU’s published holdings as at 30 October 2026.
Is it a good time to buy IEU?
Nobody can time the market perfectly, but you can check the trend before you buy. Here’s where IEU stands right now.
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| Net flow, September | +$185m |
| Net flow, 2026 so far | +$452m |
| Average month in 2026 | +$50m |
Is the whole market risk on, caution or risk off this week? Members see it every Sunday, with the core ETF check-up.
🔒 See it free for 30 days →IEU is in a downtrend. Some investors wait for the trend to turn before adding; others keep buying small, regular amounts. Whatever you do, size it so a further fall wouldn’t derail your plan.
General information only, not a recommendation to buy or sell IEU. Whether it suits you depends on your goals and the rest of your portfolio. Trend updated weekly; flows from the TMX Australia funds report (September 2026) and the Global X weekly market monitor. See every ETF’s trend in the ETF trend scanner, or read when to buy an ETF.
What is IEU?
Index: S&P Europe 350 Index · Issuer: iShares (BlackRock) · Exchange: ASX
Top 10 holdings
The 10 largest companies make up 22% of IEU.
| # | Company | Weight | |
|---|---|---|---|
| 1 | ASML Holding NVInformation Technology | 4.46% | |
| 2 | Roche Holding AGHealth Care | 2.52% | |
| 3 | Shell PLCEnergy | 2.28% | |
| 4 | Novartis AGHealth Care | 2.18% | |
| 5 | HSBC Holdings PLCFinancials | 2.15% | |
| 6 | AstraZeneca PLCHealth Care | 2.12% | |
| 7 | Nestle SAConsumer Staples | 1.94% | |
| 8 | SAP SEInformation Technology | 1.76% | |
| 9 | Siemens AGIndustrials | 1.56% | |
| 10 | TotalEnergies SEEnergy | 1.42% |
Sector breakdown
ETFs most similar to IEU
How much each ETF’s holdings overlap with IEU, by weight. High overlap means owning both mostly doubles up.
| ETF | Overlap | |
|---|---|---|
| VEQVanguard Ftse Europe Shares ETF | 76% | Compare in calculator → |
| IVEiShares MSCI EAFE ETF | 54% | Compare in calculator → |
| EXUSBetashares Global Shares Ex Us ETF | 48% | Compare in calculator → |
| ESTXGlobal X Euro Stoxx 50 ETF | 36% | Compare in calculator → |
| HEURBetashares Europe Currency Hedged ETF | 35% | Compare in calculator → |
| VEUVanguard All-World Ex-Us Shares Index ETF | 26% | Compare in calculator → |
Core or satellite?
SATELLITE Europe
IEU is a satellite: a regional tilt. In our approach, satellites are bought when they break out of a base into an uptrend, kept to a small slice of the portfolio, and sold with a stop loss. Read more in core and satellite investing.
Read more: The base and trend method · When to buy an ETF
IEU FAQs
Is IEU a good ETF?
IEU is a long-running Europe ETF. Europe has lagged the US for years, so it suits a satellite role. Whether it suits you depends on your goals and the rest of your portfolio.
What does IEU invest in?
IEU invests in 350 large European companies, such as ASML, Roche and Shell. Its largest holdings are ASML Holding NV, Roche Holding AG, Shell PLC, and its biggest sector is financials at about 25%.
What ETFs are similar to IEU?
The ETFs with the most overlap with IEU are VEQ (about 76%) and IVE (about 54%). Use the free ETF overlap calculator to check your own mix.
Should I own IEU and VEQ together?
Usually there is little point: their holdings overlap by about 76%, so owning both mostly doubles up.
Fee, size and returns: TMX Australia Funds Report to 30 September 2026; returns are total returns, 5-year figure is cumulative. Holdings from iShares (BlackRock) as at 30 October 2026. Chart: TradingView. General information only, not a recommendation to buy or sell IEU. Consider the PDS and TMD before investing.