Each month, we check in on the performance of the largest Europe-domiciled stock, bond, and active exchange-traded funds.
The Morningstar Europe Index fell 0.37% during November, while the Morningstar Eurozone Core Bond Index gained 0.42%. Over the past year, the European stock market is up 10.08%, while the European bond market has risen 3.32%.
The Morningstar US Market Index rose 7.68% during November and is up 33.84% over the past year. The Morningstar US Core Bond Index rose 2.18% last month and is up 6.35% over the past year.
In the global markets, stocks gained 4.97% during November, as measured by the Morningstar Global Markets Index. Bonds rose 1.51%, as measured by the Morningstar Global Core Bond Index. Over the past year, global stocks are up 25.57% and global bonds are are up 4.01%.
Largest Europe-Domiciled Stock ETF Performance
Out of the 10 largest Europe-domiciled stock ETFs, the top performer last month was the £15.4 billion iShares MSCI USA ESG Enhanced UCITS ETF, which gained 7.48%. The bottom performer was the £18.7 billion iShares Core MSCI EM IMI UCITS ETF, which lost 2.24%.
Here’s more about the performance of the largest Europe-domiciled stock ETFs.
iShares VII PLC - iShares Core S&P 500 UCITS ETF
• Morningstar Medalist Rating: Gold
• Morningstar Category: US Large-Cap Blend Equity
In November, iShares Core S&P 500 rose 7.06%, while the average US large-cap blend equity fund gained 6.44%. The fund placed in the 26th percentile for performance. The £87.9 billion fund has climbed 33.00% over the past 12 months, outperforming the average fund in its category, which rose 29.96%. The iShares fund, which launched in May 2010, has climbed 12.61% over the past three years and gained 15.84% over the past five years.
iShares Core MSCI World UCITS ETF
• Morningstar Medalist Rating: Silver
• Morningstar Category: Global Large-Cap Blend Equity
iShares Core MSCI World gained 5.78% in November, outperforming the average fund in the global large-cap blend equity category, which rose 3.61%. The £74.9 billion fund has gained 27.34% over the past 12 months, while the average fund in its category is up 20.56%. The iShares fund, which launched in September 2009, has climbed 10.34% over the past three years and gained 12.89% over the past five years.
Vanguard S&P 500 UCITS ETF
• Morningstar Medalist Rating: Gold
• Morningstar Category: US Large-Cap Blend Equity
Vanguard S&P 500 gained 7.06% in November, outperforming the average fund in the US large-cap blend equity category, which rose 6.44%. The £50.6 billion fund has gained 32.99% over the past 12 months, while the average fund in its category is up 29.96%. The Vanguard fund, which launched in May 2012, has climbed 12.61% over the past three years and gained 15.84% over the past five years.
Invesco S&P 500 UCITS ETF
• Morningstar Medalist Rating: Silver
• Morningstar Category: US Large-Cap Blend Equity
In November, Invesco S&P 500 rose 7.08%, while the average US large-cap blend equity fund gained 6.44%. The fund placed in the 56th percentile for performance. The £28.6 billion fund has climbed 33.24% over the past 12 months, outperforming the average fund in its category, which rose 29.96%. The Invesco fund, which launched in May 2010, has climbed 12.84% over the past three years and gained 16.08% over the past five years.
Vanguard FTSE All-World UCITS ETF
• Morningstar Medalist Rating: Gold
• Morningstar Category: Global Large-Cap Blend Equity
Vanguard FTSE All-World gained 4.80% in November, outperforming the average fund in the global large-cap blend equity category, which rose 3.61%. The £26 billion fund has gained 25.16% over the past 12 months, while the average fund in its category is up 20.56%. The Vanguard fund, which launched in May 2012, has climbed 9.13% over the past three years and gained 11.65% over the past five years.
Largest Europe-Domiciled Bond ETF Performance
Out of the 10 largest Europe-domiciled bond ETFs, the top performer last month was the £7.4 billion iShares $ Corp Bond, which gained 2.80%. The bottom performer was the £7 billion iShares € High Yield Corp Bond, which lost 1.16%.
Here’s more about the performance of the largest Europe-domiciled bond ETFs.
iShares $ Treasury Bond 0-1yr UCITS ETF
• Morningstar Medalist Rating: Silver
• Morningstar Category: USD Ultra Short-Term Bond
iShares $ Treasury Bond 0-1yr gained 1.53% in November, performing roughly in line with the average fund in the USD ultra short-term bond category, which rose 1.53%. The £15.4 billion fund has gained 4.89% over the past 12 months, while the average fund in its category is up 5.06%. The iShares fund, which launched in February 2019, has climbed 4.97% over the past three years and gained 2.71% over the past five years.
iShares Core € Corp Bond UCITS ETF
• Morningstar Medalist Rating: Bronze
• Morningstar Category: EUR Corporate Bond
The £12.6 billion iShares Core € Corp Bond ETF fell 0.06% in November. The loss on the fund was worse than the 0.60% gain on the average fund in the EUR corporate bond category, leaving it in the 21st percentile for performance. Over the past 12 months, the iShares fund rose 4.01%, while the average fund in its category rose 4.79%. The fund, which launched in March 2009, has dropped 1.58% over the past three years and lost 0.70% over the past five years.
iShares Core Global Aggregate Bond UCITS ETF
• Morningstar Medalist Rating: Bronze
• Morningstar Category: Global Diversified Bond
The £8.6 billion iShares Core Global Aggregate Bond ETF rose 1.48% in November. The gain on the fund beat the 1.16% gain on the average fund in the global diversified bond category, leaving it in the 28th percentile for performance. Over the past 12 months, the iShares fund rose 4.12%, while the average fund in its category rose 3.21%. The fund, which launched in November 2017, has dropped 2.63% over the past three years and lost 1.17% over the past five years.
iShares $ Treasury Bond 1-3yr UCITS ETF
• Morningstar Medalist Rating: Neutral
• Morningstar Category: USD Government Bond - Short Term
In November, the iShares $ Treasury Bond 1-3yr ETF rose 1.44%, while the average USD government bond - short term fund gained 1.40%. The fund placed in the 29th percentile for performance. The £8.6 billion fund has climbed 4.58% over the past 12 months, performing roughly in line with the average fund in its category, which rose 4.39%. The iShares fund, which launched in June 2006, has climbed 2.65% over the past three years and gained 1.71% over the past five years.
iShares $ Corp Bond UCITS ETF
• Morningstar Medalist Rating: Bronze
• Morningstar Category: USD Corporate Bond
In November, the iShares $ Corp Bond ETF rose 2.80%, while the average USD corporate bond fund gained 2.18%. The fund placed in the 12th percentile for performance. The £7.4 billion fund has climbed 8.18% over the past 12 months, outperforming the average fund in its category, which rose 7.52%. The iShares fund, which launched in March 2003, has dropped 1.15% over the past three years and gained 0.70% over the past five years.
Largest Europe-Domiciled Active ETF Performance
While passive ETFs have portfolios where holdings are designed to track the performance of an index, active ETFs are managed by portfolio managers who make the decisions about which investments to own. Like index-tracking ETFs, active ETFs trade on an exchange and are typically lower-cost and more tax-efficient than traditional actively managed mutual funds.
Out of the 10 largest Europe-domiciled active ETFs, the top performer last month was the £10.3 billion JPMorgan US Research Enhanced Index Equity (ESG), which gained 6.77%. The bottom performer was the £1.6 billion Fidelity Sustainable Research Enhanced Emerging Markets Equity, which lost 3.15%.
Here’s more about the performance of the largest Europe-domiciled active ETFs.
JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity (ESG) UCITS ETF
• Morningstar Medalist Rating: None
• Morningstar Category: US Large-Cap Blend Equity
The JPMorgan US Research Enhanced Index Equity (ESG) gained 6.77% in November, outperforming the average fund in the US large-cap blend equity category, which rose 6.44%. The fund placed in the 43rd percentile for performance and performed roughly in line with its benchmark, the S&P 500 Index.
The £10.3 billion fund has gained 33.20% over the past 12 months, while the average fund in its category is up 29.96%. The JP Morgan fund, which launched in October 2018, has climbed 13.01% over the past three years and gained 16.82% over the past five years.
JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF
• Morningstar Medalist Rating: Silver
• Morningstar Category: Global Large-Cap Blend Equity
In November, the JPMorgan Global Research Enhanced Index Equity (ESG) rose 5.39%, while the average global large-cap blend equity fund gained 3.61%. The fund placed in the 15th percentile for performance and lagged its benchmark, the MSCI World Index, by 0.40 percentage points.
The £6.5 billion fund has climbed 27.13% over the past 12 months, outperforming the average fund in its category, which rose 20.56%. The JP Morgan fund, which launched in October 2018, has climbed 11.08% over the past three years and gained 13.90% over the past five years.
PIMCO US Dollar Short Maturity UCITS ETF
• Morningstar Medalist Rating: Gold
• Morningstar Category: USD Ultra Short-Term Bond
The PIMCO US Dollar Short Maturity UCITS ETF gained 1.58% in November, performing roughly in line with the average fund in the USD ultra short-term bond category, which rose 1.53%. The fund placed in the 23rd percentile for performance and performed roughly in line with its benchmark, the FTSE Treasury Bill 3 Month Index.
The £1.6 billion fund has gained 5.45% over the past 12 months, while the average fund in its category is up 5.06%. The Pimco fund, which launched in February 2011, has climbed 4.78% over the past three years and gained 2.68% over the past five years.
PIMCO Euro Short Maturity UCITS ETF
• Morningstar Medalist Rating: Silver
• Morningstar Category: EUR Ultra Short-Term Bond
The £1.6 billion PIMCO Euro Short Maturity ETF fell 1.35% in November. The loss on the fund was worse than the 0.60% loss on the average fund in the EUR ultra short-term bond category, leaving it in the 76th percentile for performance. The fund performed roughly in line with its benchmark, the Euro Short-Term Rate Index.
Over the past 12 months, the Pimco fund rose 0.72%, while the average fund in its category rose 1.12%. The fund, which launched in January 2011, has climbed 1.06% over the past three years and gained 0.43% over the past five years.
Fidelity Sustainable Research Enhanced Emerging Markets Equity UCITS ETF
• Morningstar Medalist Rating: Bronze
• Morningstar Category: Global Emerging Markets Equity
The Fidelity Sustainable Research Enhanced Emerging Markets Equity lost 3.15% in November, falling further than the average fund in the global emerging markets equity category, which fell 1.62%. The fund placed in the 96th percentile for performance and fell further than its benchmark, the MSCI EM Index, by 0.67 percentage points.
The £1.6 billion fund has gained 8.41% over the past 12 months, while the average fund in its category is up 10.73%. The Fidelity International fund, which launched in November 2020, has lost 1.66% over the past three years.
This article was generated with the help of automation and reviewed by Morningstar editors. Learn more about Morningstar’s use of automation.
The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar's editorial policies.
