ETF comparison

IUES vs JREU

iShares S&P 500 EUR Hedged UCITS ETF (Acc)

IE00B3ZW0K18iShares

JPM US Research Enhanced Index Equity Active UCITS ETF - USD (acc)

IE00BF4G7076J.P. Morgan Asset Management

Figures as of October 1, 2026 (IUES) · October 2, 2026 (JREU)

The comparison in short

IUES (iShares S&P 500 EUR Hedged UCITS ETF (Acc), IE00B3ZW0K18) and JREU (JPM US Research Enhanced Index Equity Active UCITS ETF - USD (acc), IE00BF4G7076) both track the S&P 500 index. IUES and JREU have the same total expense ratio (TER), 0.20% a year. IUES reports EUR 9.0bn in assets and JREU USD 15.8bn. IUES reports 505 holdings and JREU 259. 9 of the holdings published by IUES (top 10) and JREU (top 50) appear in both lists; measured on those published positions only, the overlap is at least 38.8%. Shared holdings include NVIDIA, APPLE, MICROSOFT, ALPHABET CLASS A and AMAZON.COM INC. In 2025, IUES returned +15.2% and JREU +16.5%, a gap of 1.3 percentage points. Over 5 years, IUES returned +10.6% a year and JREU +12.4% a year. Returns are in each share class's currency (EUR and USD), so part of the gap reflects exchange rates. IUES and JREU both reinvest their income (accumulating share classes). Both are domiciled in Ireland. IUES and JREU both carry a risk indicator (SRRI) of 4 on the 1–7 scale. This is a factual comparison from the fund houses' documents, not investment advice.

Side by side

Figure	IUES	JREU
ISIN	IE00B3ZW0K18	IE00BF4G7076
Exchange tickers	IUES, IUSE, IBCF	JREU, JURE
Fund house	iShares	J.P. Morgan Asset Management
Total expense ratio (TER)	0.20%	0.2%
Ongoing charges (KID)	0.20%	0.2%
Fund size	EUR 9.0bn	USD 15.8bn
Launch date	September 30, 2010	October 10, 2018
Replication	Physical	—
Domicile	Ireland	Ireland
Distribution policy	Accumulating	Accumulating
Share class currency	EUR	USD
Number of holdings	505	259
Risk indicator (SRRI)	4 / 7	4 / 7
SFDR classification	—	Article 8
Benchmark	S&P 500 Index, 100% EURHedged Net Return	Standard & Poor's (S&P) 500 Index (Total Return Net)

Performance

Calendar-year returns

Year	IUES	JREU	Difference
2025	+15.2%	+16.5%	−1.3
2024	+22.5%	+24.5%	−2.0
2023	+22.4%	+27.6%	−5.2
2022	−20.9%	−18.8%	−2.1
2021	+27.0%	+29.9%	−2.9
2020	+15.2%	+19.9%	−4.7

Annualised returns

Period	IUES	JREU	Difference
1 year	+12.8%	+19.3%	−6.5
3 years	+20.1%	+20.1%	0.0
5 years	+10.6%	+12.4%	−1.8

Returns as published by each fund house, in each share class's currency and net of the fund's charges. The difference is in percentage points. Past performance does not predict future returns.

Holdings

9 of the holdings published by IUES (top 10) and JREU (top 50) appear in both lists; measured on those published positions only, the overlap is at least 38.8%. Shared holdings include NVIDIA, APPLE, MICROSOFT, ALPHABET CLASS A and AMAZON.COM INC.

Top 10 holdings of IUES

#	Holding	Weight
1	NVIDIAIn both	8.47%
2	APPLEIn both	7.31%
3	MICROSOFTIn both	5.78%
4	AMAZON.COM INCIn both	3.70%
5	ALPHABET CLASS AIn both	3.01%
6	BROADCOM INCIn both	2.48%
7	META PLATFORMS CLASS AIn both	2.43%
8	ALPHABET CLASS CIn both	2.41%
9	MICRON TECHNOLOGYIn both	1.88%
10	ADVANCED MICRO DEVICESIn both	1.52%

Top 10 holdings of JREU

#	Holding	Weight
1	NVIDIA CORPIn both	8.94%
2	APPLE INCIn both	7.10%
3	MICROSOFT CORPIn both	6.29%
4	AMAZON.COM INCIn both	4.07%
5	ALPHABET INC-CL AIn both	3.08%
6	BROADCOM INCIn both	2.64%
7	META PLATFORMS INC-CLASS AIn both	2.53%
8	ALPHABET INC-CL CIn both	2.41%
9	MICRON TECHNOLOGY INCIn both	1.96%
10	ADVANCED MICRO DEVICESIn both	1.55%

Compare every published holding of IUES and JREU in the overlap checker

Sectors and countries

Largest sectors of IUES

Information Technology40.4%
Financials11.4%
Communication9.9%
Health Care9.1%
Consumer Discretionary8.7%
Industrials8.2%

+ 4 more

Largest sectors of JREU

Hardware & Semiconductors28.0%
Media14.4%
Software & Services9.4%
Industrial Cyclicals9.1%
Pharm/MedTech7.5%
Banks & Brokers5.5%

+ 12 more

Largest countries of IUES

United States100.3%

Largest countries of JREU

United States95.9%
Ireland3.2%
Netherlands0.4%
Switzerland0.3%
Jersey0.1%

Frequently asked questions

What is the difference between IUES and JREU?

IUES (iShares S&P 500 EUR Hedged UCITS ETF (Acc), IE00B3ZW0K18) and JREU (JPM US Research Enhanced Index Equity Active UCITS ETF - USD (acc), IE00BF4G7076) both track the S&P 500 index. IUES and JREU have the same total expense ratio (TER), 0.20% a year. IUES and JREU both reinvest their income (accumulating share classes). Both are domiciled in Ireland. The share class of IUES is in EUR, that of JREU in USD. This is a factual comparison from the fund houses' documents, not investment advice.

Which is cheaper, IUES or JREU?

IUES and JREU have the same total expense ratio (TER), 0.20% a year. Their key information documents state ongoing charges of 0.20% for IUES and 0.20% for JREU.

Which is bigger, IUES or JREU?

IUES reports EUR 9.0bn in assets and JREU USD 15.8bn.

Do IUES and JREU hold the same companies?

How did IUES and JREU perform in 2025?

In 2025, IUES returned +15.2% and JREU +16.5%, a gap of 1.3 percentage points. Over 5 years, IUES returned +10.6% a year and JREU +12.4% a year. Over the past year, IUES returned +12.8% and JREU +19.3%. Returns are in each share class's currency (EUR and USD), so part of the gap reflects exchange rates. Past performance does not predict future returns.

Are IUES and JREU accumulating or distributing?

IUES is accumulating: it reinvests its income in the fund. JREU is accumulating: it reinvests its income in the fund.

Go further

Other comparisons

Figures are read from the documents each fund house publishes (product page, factsheet, key information document, holdings file) and refreshed weekly. Names and tickers identify the products; FundFacts API is independent of every fund house and index provider. This comparison is factual information, not investment advice or a recommendation to buy or sell either fund.