Each month, we check in on the performance of the largest Europe-domiciled stock, bond, and active exchange-traded funds available for sale in Finland.
The Morningstar Europe Index rose 3.22% during May, while the Morningstar Eurozone Core Bond Index gained 1.07%. Over the past year, the European stock market is up 17.52%, while the European bond market has risen 1.09%.
The Morningstar US Market Index rose 5.72% during May and is up 25.95% over the past year. The Morningstar US Core Bond Index rose 0.82% last month and is up 2.29% over the past year.
In the global markets, stocks gained 5.57% during May, as measured by the Morningstar Global Markets Index. Bonds rose 0.89%, as measured by the Morningstar Global Core Bond Index. Over the past year, global stocks are up 27.25% and global bonds are up 0.53%.
Performance of the Largest Stock ETFs
When evaluating ETFs, investors should focus on long-term returns across multiple years and market cycles. However, short-term returns can provide valuable information about biases within strategies.
Out of the 10 largest Europe-domiciled stock ETFs, the top performer last month was the €26 billion iShares VII PLC - iShares NASDAQ 100 UCITS ETF CSNDX, which gained 11.11%. The bottom performer was the €126.3 billion iShares Core MSCI World UCITS ETF IWDA, which gained 5.09%.
Here’s more about the performance of the largest stock ETFs.
iShares Core S&P 500 UCITS ETF CSSPX
- : GoldMorningstar Medalist Rating
- : US Large-Cap Blend EquityMorningstar Category
In May, the iShares Core S&P 500 UCITS ETF rose 5.79%, while the average US large-cap blend equity fund gained 5.40%. The fund placed in the 41st percentile for performance. The €132.8 billion fund has climbed 25.95% over the past 12 months, outperforming the average fund in its category, which rose 22.82%. The iShares fund, which launched in May 2010, has climbed 19.63% over the past three years annualized and gained 14.90% annualized over the past five years.
iShares Core MSCI World UCITS ETF IWDA
- : GoldMorningstar Medalist Rating
- : Global Large-Cap Blend EquityMorningstar Category
The iShares Core MSCI World UCITS ETF gained 5.09% in May, outperforming the average fund in the global large-cap blend equity category, which rose 4.72%. The €126.3 billion fund has gained 24.04% over the past 12 months, while the average fund in its category is up 19.56%. The iShares fund, which launched in September 2009, has climbed 18.31% over the past three years annualized and gained 13.05% annualized over the past five years.
Vanguard S&P 500 UCITS ETF VUSD
- : GoldMorningstar Medalist Rating
- : US Large-Cap Blend EquityMorningstar Category
The Vanguard S&P 500 UCITS ETF gained 5.79% in May, outperforming the average fund in the US large-cap blend equity category, which rose 5.40%. The €74.4 billion fund has gained 25.95% over the past 12 months, while the average fund in its category is up 22.82%. The Vanguard fund, which launched in May 2012, has climbed 19.62% over the past three years annualized and gained 14.90% annualized over the past five years.
Vanguard FTSE All-World UCITS ETF VWRD
- : GoldMorningstar Medalist Rating
- : Global Large-Cap Blend EquityMorningstar Category
The Vanguard FTSE All-World UCITS ETF gained 5.75% in May, outperforming the average fund in the global large-cap blend equity category, which rose 4.72%. The €62.7 billion fund has gained 26.65% over the past 12 months, while the average fund in its category is up 19.56%. The Vanguard fund, which launched in May 2012, has climbed 18.60% over the past three years annualized and gained 12.46% annualized over the past five years.
Invesco S&P 500 UCITS ETF SPXS
- : GoldMorningstar Medalist Rating
- : US Large-Cap Blend EquityMorningstar Category
The €48.3 billion Invesco S&P 500 UCITS ETF rose 5.80% in May. The gain on the fund beat the 5.40% gain on the average fund in the US large-cap blend equity category, leaving it in the 51st percentile for performance. Over the past 12 months, the Invesco fund rose 26.11%, while the average fund in its category rose 22.82%. The fund, which launched in May 2010, has climbed 19.82% over the past three years annualized and gained 15.12% annualized over the past five years.
Performance of the Largest Bond ETFs
When evaluating ETFs, investors should focus on long-term returns across multiple years and market cycles. However, short-term returns can provide valuable information about biases within strategies.
Out of the 10 largest Europe-domiciled bond ETFs, the top performer last month was the €6.8 billion iShares J.P. Morgan $ EM Bond UCITS ETF IEMB, which gained 1.46%. The bottom performer was the €9.1 billion iShares VII PLC - iShares VII PLC - iShares $ Treasury Bond 3-7yr UCITS ETF CSBGU7, which gained 0.39%.
Here’s more about the performance of the largest bond ETFs.
iShares $ Treasury Bond 0-1yr UCITS ETF IB01
- : NoneMorningstar Medalist Rating
- : USD Ultra Short-Term BondMorningstar Category
In May, the iShares $ Treasury Bond 0-1yr UCITS ETF rose 0.82%, while the average USD ultra short-term bond fund gained 0.83%. The fund placed in the 57th percentile for performance. The €22.5 billion fund has climbed 1.18% over the past 12 months, underperforming the average fund in its category, which rose 2.09%. The iShares fund, which launched in February 2019, has climbed 1.63% over the past three years annualized and gained 4.34% annualized over the past five years.
iShares Core € Corp Bond UCITS ETF IEAC
- : BronzeMorningstar Medalist Rating
- : EUR Corporate BondMorningstar Category
In May, the iShares Core € Corp Bond UCITS ETF rose 0.92%, while the average EUR corporate bond fund gained 0.81%. The fund placed in the 24th percentile for performance. The €14 billion fund has climbed 2.39% over the past 12 months, outperforming the average fund in its category, which rose 1.97%. The iShares fund, which launched in March 2009, has climbed 4.63% over the past three years annualized and gained 0.19% annualized over the past five years.
iShares Core Global Aggregate Bond UCITS ETF AGGG
- : BronzeMorningstar Medalist Rating
- : Global Diversified BondMorningstar Category
In May, the iShares Core Global Aggregate Bond UCITS ETF rose 0.83%, while the average global diversified bond fund gained 0.82%. The fund placed in the 52nd percentile for performance. The €12.3 billion fund has climbed 0.40% over the past 12 months, outperforming the average fund in its category, which rose 0.25%. The iShares fund, which launched in November 2017, has climbed 0.50% over the past three years annualized and lost 0.68% annualized over the past five years.
iShares $ Treasury Bond 1-3yr UCITS ETF IBTS
- : NeutralMorningstar Medalist Rating
- : USD Government Bond - Short TermMorningstar Category
The iShares $ Treasury Bond 1-3yr UCITS ETF gained 0.61% in May, underperforming the average fund in the USD government bond - short term category, which rose 0.67%. The €10.4 billion fund has gained 0.70% over the past 12 months, while the average fund in its category is up 0.65%. The iShares fund, which launched in June 2006, has climbed 1.10% over the past three years annualized and gained 2.82% annualized over the past five years.
iShares VII PLC - iShares VII PLC - iShares $ Treasury Bond 3-7yr UCITS ETF CSBGU7
- : NeutralMorningstar Medalist Rating
- : USD Government BondMorningstar Category
The iShares VII PLC - iShares VII PLC - iShares $ Treasury Bond 3-7yr UCITS ETF gained 0.39% in May, underperforming the average fund in the USD government bond category, which rose 0.72%. The €9.1 billion fund has gained 0.63% over the past 12 months, while the average fund in its category is up 1.60%. The iShares fund, which launched in June 2009, has climbed 0.58% over the past three years annualized and gained 1.38% annualized over the past five years.
Performance of the Largest Active ETFs
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 than traditional actively managed mutual funds.
When evaluating ETFs, investors should focus on long-term returns across multiple years and market cycles. However, short-term returns can provide valuable information about biases within strategies.
Out of the 10 largest Europe-domiciled active ETFs, the top performer last month was the €2.4 billion Invesco Global Active ESG Equity UCITS ETF IQSA, which gained 5.25%. The bottom performer was the €1.3 billion JPM Global Equity Premium Income Active UCITS ETF JEPG, which lost 0.61%.
Here’s more about the performance of the largest active ETFs.
JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity Active UCITS ETF JREU
- : SilverMorningstar Medalist Rating
- : US Large-Cap Blend EquityMorningstar Category
The €12.6 billion JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity Active UCITS ETF rose 4.96% in May. The gain on the fund was shy of the 5.40% gain on the average fund in the US large-cap blend equity category, leaving it in the 69th percentile for performance. The fund lagged its benchmark, the S&P 500 Index, by 0.82 percentage points.
Over the past 12 months, the JPMorgan fund rose 25.05%, while the average fund in its category rose 22.82%. The fund, which launched in October 2018, has climbed 19.13% over the past three years annualized and gained 14.84% annualized over the past five years.
JPMorgan ETFs (Ireland) ICAV - Global Research Enhanced Index Equity Active UCITS ETF JREG
- : GoldMorningstar Medalist Rating
- : Global Large-Cap Blend EquityMorningstar Category
The JPMorgan ETFs (Ireland) ICAV - Global Research Enhanced Index Equity Active UCITS ETF gained 4.44% in May, underperforming the average fund in the global large-cap blend equity category, which rose 4.72%. The fund placed in the 64th percentile for performance and lagged its benchmark, the MSCI World Index, by 0.65 percentage points.
The €8.8 billion fund has gained 23.23% over the past 12 months, while the average fund in its category is up 19.56%. The JPMorgan fund, which launched in October 2018, has climbed 17.76% over the past three years annualized and gained 13.31% annualized over the past five years.
JPMorgan ETFs (Ireland) ICAV - JPM Nasdaq Equity Premium Income Active UCITS ETF JEQA
- : GoldMorningstar Medalist Rating
- : US Equity IncomeMorningstar Category
The €3 billion JPMorgan ETFs (Ireland) ICAV - JPM Nasdaq Equity Premium Income Active UCITS ETF rose 4.60% in May. The gain on the fund beat the 2.44% gain on the average fund in the US equity income category, leaving it in the 13th percentile for performance. The fund lagged its benchmark, the NASDAQ 100 Index, by 6.55 percentage points.
Over the past 12 months, the JPMorgan fund rose 25.90%, while the average fund in its category rose 16.06%. The fund was launched in October 2024.
JPMorgan ETFs (Ireland) ICAV - Europe Research Enhanced Index Equity Active UCITS ETF JREE
- : GoldMorningstar Medalist Rating
- : Europe Large-Cap Blend EquityMorningstar Category
The €2.8 billion JPMorgan ETFs (Ireland) ICAV - Europe Research Enhanced Index Equity Active UCITS ETF rose 2.79% in May. The gain on the fund was shy of the 3.24% gain on the average fund in the Europe large-cap blend equity category, leaving it in the 71st percentile for performance. The fund lagged its benchmark, the MSCI Europe Index, by 0.38 percentage points.
Over the past 12 months, the JPMorgan fund rose 16.69%, while the average fund in its category rose 13.14%. The fund, which launched in October 2018, has climbed 13.64% over the past three years annualized and gained 10.20% annualized over the past five years.
Invesco Global Active ESG Equity UCITS ETF IQSA
- : SilverMorningstar Medalist Rating
- : Global Large-Cap Blend EquityMorningstar Category
In May, the Invesco Global Active ESG Equity UCITS ETF rose 5.25%, while the average global large-cap blend equity fund gained 4.72%. The fund placed in the 37th percentile for performance and performed roughly in line with its benchmark, the MSCI World Index.
The €2.4 billion fund has climbed 27.70% over the past 12 months, outperforming the average fund in its category, which rose 19.56%. The Invesco fund, which launched in July 2019, has climbed 22.52% over the past three years annualized and gained 15.50% annualized over the past five years.
