iShares MSCI UAE ETF (UAE) Performance
UAE total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.1% since Dec 31, 2025
- 1 year
- −0.1% total return
- 5 years
- +9.3% a year
- 10 years
- +5.7% a year
- Since first price
- +1.7% a year since 2014
UAE trailing returns vs SPY, QQQ, AGG
| Period | UAE total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −5.4% | −5.4% | −1.0% | −5.0% | +0.9% |
| 3 months | +0.9% | +0.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +3.4% | −0.1% | +7.8% | +8.4% | −1.5% |
| YTD | +3.1% | −0.4% | +12.3% | +15.1% | −1.0% |
| 1 year | −0.1% | −4.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +59.5%+16.8%/yr | +40.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +56.3%+9.3%/yr | +29.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +74.5%+5.7%/yr | +16.1% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionMay 1, 2014 | +23.7%+1.7%/yr | −25.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: UAE vs SPY
From May 1, 2014: UAE grew to $12,370, SPY to $49,713.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
UAE returns by calendar year
7 of 11 full years positive. Best 2021 (+44.2%), worst 2015 (−15.3%). 2026 is year to date.
UAE annual returns table
| Year | UAE | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +3.1% | −21.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +21.3% | −11.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +15.3% | −11.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +2.9% | −14.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −5.4% | −21.6% | −18.2% | −32.6% | −13.0% |
| 2021 | +44.2% | −7.0% | +28.7% | +27.4% | −1.8% |
| 2020 | −7.2% | −39.1% | +18.3% | +48.6% | +7.5% |
| 2019 | +1.6% | −14.8% | +31.2% | +39.0% | +8.5% |
| 2018 | −14.4% | −22.2% | −4.6% | −0.1% | +0.1% |
| 2017 | +5.0% | −8.6% | +21.7% | +32.7% | +3.6% |
| 2016 | +9.7% | −14.7% | +12.0% | +7.1% | +2.4% |
| 2015 | −15.3% | −31.3% | +1.2% | +9.4% | +0.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
UAE largest drawdowns
Now 11.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 6, 2014 | −60.5% | Mar 18, 2020 | Mar 30, 2022 | 5.8 years | 7.8 years |
| Apr 4, 2022 | −27.5% | Oct 27, 2023 | Feb 11, 2025 | 1.6 years | 2.9 years |
| Feb 18, 2026 | −21.5% | Mar 20, 2026 | not yet | 30 days | 8 months so far |
| Feb 20, 2025 | −11.9% | Apr 8, 2025 | Apr 29, 2025 | 47 days | 2 months |
| May 5, 2014 | −10.2% | May 20, 2014 | Jun 2, 2014 | 15 days | 28 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
UAE risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2014 |
|---|---|---|---|---|
| Annualized return | +14.1% | +10.4% | +5.9% | +2.1% |
| Volatility (annualized) | 15.5% | 16.9% | 17.6% | 20.0% |
| Sharpe ratio | 0.65 | 0.46 | 0.29 | 0.11 |
| Sortino ratio | 0.91 | 0.67 | 0.40 | 0.16 |
| Best month | +7.4% | +12.0% | +12.1% | +18.7% |
| Worst month | −12.6% | −12.6% | −23.2% | −23.2% |
| Best 12 months | +42.2% | +42.2% | +52.0% | +52.0% |
| Worst 12 months | −1.3% | −23.7% | −34.1% | −34.1% |
| Positive months | 67% | 60% | 53% | 51% |
| Beta vs S&P 500 | 0.51 | 0.42 | 0.61 | — |
| Correlation with S&P 500 | 0.41 | 0.39 | 0.53 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
UAE rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 138 | −34.1% | +1.9% | +52.0% | 54% |
| 3-year (a year) | 114 | −14.4% | +3.3% | +19.9% | 64% |
| 5-year (a year) | 90 | −9.9% | +3.4% | +18.3% | 76% |
| 10-year (a year) | 30 | −2.3% | +4.2% | +8.0% | 87% |
Every holding period starting at a month-end since 2014. Returns for 3 years and longer are annualized.
UAE performance overview
iShares MSCI UAE ETF (UAE) returned −0.1% over the past year and +5.7% a year over ten years, with distributions reinvested. Since its first recorded price in 2014 it has returned +1.7% a year, turning $10,000 into about $12,370. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −60.5%, from Jun 6, 2014 to Mar 18, 2020, and it took 2.0 years to get back to the old high. UAE finished 7 of its 11 full calendar years with a gain; the best year was 2021 (+44.2%) and the worst 2015 (−15.3%). Volatility has been 20.0% a year.
Related: UAE chart, UAE dividends. See the UAE overview for the latest quote and fund facts.
UAE performance FAQ
What is the UAE return over the past year?
UAE returned −0.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.4%.
What is the average annual return of UAE?
UAE has returned +9.3% a year over 5 years, +5.7% a year over 10 years, +1.7% a year since May 1, 2014 (total return, distributions reinvested).
How much would $10,000 invested in UAE be worth?
$10,000 invested in UAE at its first recorded close on May 1, 2014 would be worth about $12,370 on October 23, 2026 with distributions reinvested.
What was the worst year for UAE?
The worst calendar year was 2015, with a total return of −15.3%. The best was 2021 at +44.2%.
What is the biggest drawdown of UAE?
The largest peak-to-trough decline was −60.5% between June 6, 2014 and March 18, 2020. It recovered to the old high on March 30, 2022, 2.0 years after the bottom.
How volatile is UAE?
Over the past 3 years UAE had an annualized volatility of 15.5% and a Sharpe ratio of 0.65 (excess return over 1–3 month T-bills per unit of risk).