Key Highlights

  • ESTX (ASX:ESTX) holds 51 eurozone blue chips, led by ASML at 10.81%.
  • IEU (ASX:IEU) holds 400 European companies, with HSBC, Roche and Shell among the largest.
  • HEUR (ASX:HEUR) holds 118 eurozone exporters, with the euro hedged to AUD and ASML at 11.92%.
  • Annual yields are 7.65% for ESTX, 8.76% for IEU and not stated for HEUR.

Three ASX-listed funds give Australian investors European stock exposure, but each reaches a different part of the market. ESTX (ASX:ESTX) traded at $103.11 during the trading session on 30 October 2026, up 1.09%. IEU (ASX:IEU) traded at $96.25, up 1.37%, and HEUR (ASX:HEUR) traded at $18.19, up 0.38%. The three differ in breadth, country focus and currency treatment.

ESTX: Eurozone Blue Chips

ESTX holds 51 of the eurozone's largest companies. ASML leads at 10.81%, followed by Siemens at 4.51%, SAP at 4.16% and Banco Santander at 4.13%. France (28.70%) and Germany (28.47%) account for most of the country exposure. Financial services is 27.09% of sector weights. Fund size is $461.24 million, fees are 0.35% and the annual yield is 7.65%.

IEU: Pan-European Breadth

IEU holds 400 companies across the wider European market. HSBC (2.50%), Roche (2.15%) and Shell (2.01%) are among its largest positions, with ASML at 5.14%. The United Kingdom (22.40%) and Switzerland (14.95%) are its biggest country weights, alongside Germany at 13.50%. It is the largest of the three at $1.29 billion, with fees of 0.59% and an annual yield of 8.76%.

HEUR: Hedged Eurozone Exporters

HEUR holds 118 companies that earn much of their revenue from exports, with the euro hedged to Australian dollars. ASML (11.92%), Siemens (4.09%) and SAP (3.90%) lead, and the top ten make up 41.31%. Germany (29.59%) and France (23.47%) dominate country exposure. Fund size is $86.22 million and fees are 0.56%. The fund does not state an annual yield.

Comparing the Stock Mix

ESTX and HEUR share some of the same large names, but HEUR is more concentrated in industrial and technology exporters, while ESTX holds more banks and utilities. IEU reaches the largest of the three in terms of breadth, adding British and Swiss companies that the eurozone-only funds leave out.

Fund Facts Compared

ESTX: admitted 21 July 2016, benchmark EURO STOXX 50 NR EUR, fees 0.35%; IEU: admitted 10 October 2007, benchmark S&P Europe 350 NR USD, fees 0.59%; HEUR: admitted 12 May 2016, benchmark S&P Eurozone Exporters Hedged NR AUD, fees 0.56%.

Which European Exposure Fits

ESTX focuses on the eurozone's blue chips, IEU spreads across the wider European market and HEUR concentrates on exporters with the euro hedged. Each shares ASML and other large names, but the country spread, sector weights and currency treatment set them apart.