iShares Core MSCI Europe ETF

iShares Core MSCI Europe ETF (IEUR) is a BlackRock index fund that tracks the MSCI Europe IMI. That index holds large, mid-size and small companies across 15 developed European countries, and the fund held 1,016 stocks as of July 31, 2026. Its 0.10% expense ratio is well below the 0.37% average for similar funds. Vanguard FTSE Europe ETF (VGK) charges less, at 0.06%.

• Over the year to Oct 27, 2026, IEUR returned +9.6%, 4th of 9 among similar funds.
• Its 5-year annualized return was +8.2% and its 10-year +9.6%.
• In the 2020 COVID crash it fell 36.2% and regained its old high 7.8 months after the low.
• Its worst full calendar year was 2022 (-15.9%); its best was 2025 (+35.7%).
• The deepest fall in its price history was 36.9% (Jan 26, 2018 to Mar 23, 2020), recovered by Nov 24, 2020.

As of Jul 31, 2026, the fund held 1,016 securities; the ten largest made up 18.8% of assets.

• Over the three months to Jul 31, 2026, investors withdrew a net $21.6M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +2.21%, +0.60%, +2.16%.

BlackRock's IEUR tracks the MSCI Europe IMI, an index of large, mid-size and small companies in 15 developed European countries, including the United Kingdom, Switzerland, France and Germany. MSCI, not BlackRock, picks the stocks and weights them by free-float market value: bigger companies count for more, but only shares available for public trading are counted. As of July 31, 2026, the fund held 1,016 securities, led by ASML at about 4%.

BlackRock does not try to beat the index or retreat to cash in downturns. It uses representative sampling: rather than owning every index stock, it holds a sample matching the index's company sizes, industries, yield and volatility. At least 80% of assets generally sits in index stocks or close equivalents. Up to 20% can go into futures (contracts tied to an index), cash and other holdings; on July 31, 2026, small FTSE 100 and Euro Stoxx 50 futures were about 0.01% of assets.

Holdings change as MSCI updates the index, but trading is light: the prospectus filed November 21, 2025, put turnover (the share of holdings replaced in a year) at 4%. The fund may lend securities worth up to one-third of its total assets for extra income. Because its value is figured in US dollars, currency moves affect returns.

• IEUR charges 0.1% a year, versus an average of 0.37% for the similar funds below (4th of 9, cheapest first).
• Of that, 0.09% is the management fee; the rest covers other fund expenses.
• Using the prospectus's standard example, $10,000 invested would cost about $10 in the first year and $128 over 10 years (assuming a 5% annual return).

It adds more than 1,000 European stocks and exposure to European currencies at low cost, which spreads a U.S.-focused stock portfolio across other economies.

IEUR is still a stock fund, and it has fallen hard. It dropped 36.2% in the 2020 COVID crash and took about 8 months to recover. In the 2022 bear market it fell 32.3% and needed 15 months to recover, finally doing so on December 27, 2023. Its worst calendar year in the prospectus was 2022, at -16.18%. The fund launched in 2014, so it has no record from 2008. A retiree who had to sell in those years would have sold well below the peak. The trailing 12-month yield was 3.23% as of October 27, 2026. Dividends are paid twice a year, so the income arrives unevenly. In the SEC's standard example, $10,000 invested would cost about $10 in the first year and $128 over 10 years. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.