Stock Exposure Across 400 European Companies: HSBC, Shell and Roche Inside IEU (ASX:IEU)

Sonal Goyal

30 October 2026 01:14 PM AEDT

Stock Exposure Across 400 European Companies: HSBC, Shell and Roche Inside IEU (ASX:IEU)

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Key Highlights

IEU (ASX:IEU) gives exposure to 400 companies across the wider European market.
The United Kingdom, Switzerland and Germany are the largest country exposures.
ASML, HSBC and Roche are the largest individual holdings.
Fund size is $1.29 billion, with an annual yield of 8.76%.

iShares Europe ETF (ASX:IEU) traded at $96.25 during the trading session on 30 October 2026, up 1.37%, with 2,727 units traded. IEU reaches well beyond the eurozone, taking in British, Swiss and Scandinavian companies along with the continent's core. The result is a broad stock exposure built around the S&P Europe 350, with 400 holdings across many industries.

Stock Exposure

The largest positions are ASML at 5.14%, HSBC at 2.50%, Roche at 2.15%, Shell at 2.01%, Novartis at 1.92%, AstraZeneca at 1.85%, Nestle at 1.72%, Siemens at 1.65%, SAP at 1.57% and Banco Santander at 1.54%. The top ten make up 22.09%, leaving more than three-quarters of the fund in the remaining names.

That breadth dilutes the weight of any single stock, which is what separates IEU from the eurozone-only products in this group.

Sector and Country Mix

Financial services is the largest sector at 25.59%, followed by industrials at 18.76%, healthcare at 12.57%, technology at 9.80% and consumer defensive at 8.13%. Basic materials is 5.65% and energy 5.51%.

By country, the United Kingdom accounts for 22.40%, Switzerland 14.95%, Germany 13.50%, France 13.13%, the Netherlands 10.02%, Spain 6.08% and Sweden 5.25%.

Income Profile

The annual yield is 8.76%. The most recent final distribution was $7.204, with an ex-date of 1 July 2026, a record date of 2 July 2026 and a payment date of 13 July 2026.

How the Portfolio Is Built

The fund tracks the S&P Europe 350, which selects its members from across developed European markets using size and liquidity screens. Holdings are weighted by market value, so the largest British, Swiss and French names carry the most weight, while the 400 holdings provide a long tail of smaller positions.

This construction means the stock exposure is genuinely pan-European. British and Swiss banks, pharmaceutical groups and energy companies sit alongside German industrial names, which gives IEU a wider country and sector spread than most regional products.

Session Trading

IEU's day range was $95.10 to $96.26, with average daily volume of about 28,199 units. The bid-offer range during the session was $96.19 to $96.27.

Key Facts

The fund was admitted to the ASX on 10 October 2007 and is benchmarked to the S&P Europe 350 NR USD index. Its ISIN is AU000000IEU6, and management fees and costs are 0.59% a year. Fund size is $1.29 billion, with 13,628,871 units on issue.

What the Exposure Means

IEU spreads Australian investors across European stocks rather than concentrating them in the eurozone's largest names. Its exposure is weighted to banks, industrials and healthcare, and includes a large UK and Swiss component that the eurozone-only funds do not capture.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.