State Street's EURO STOXX 50 ETF Offers Concentrated Eurozone Exposure

FEZ provides large-cap Eurozone equity exposure with a value tilt and high liquidity

Mar. 30, 2026 at 4:49pm

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The State Street SPDR EURO STOXX 50 ETF (FEZ) tracks the EURO STOXX 50® Index, providing concentrated exposure to 50 of the largest Eurozone companies. The fund has $4.5 billion in assets, an expense ratio of 0.29%, and a 30-day SEC yield of 2.08%. FEZ is heavily weighted towards France and Germany and has significant exposure to financials, industrials, and technology sectors.

Why it matters

FEZ offers investors a way to gain exposure to the Eurozone equity market, which has attractive valuation metrics compared to the U.S. market. The fund's concentrated portfolio and focus on large-cap companies make it well-suited for those seeking tactical or long-term allocation to Eurozone equities.

The details

The underlying EURO STOXX 50 Index selects the 50 largest companies representing around 60% of the free-float market capitalization of the broader EURO STOXX Total Market Index. FEZ's portfolio is heavily weighted towards France (33.3%) and Germany (29.5%), with significant exposure to financials (25.1%), industrials (21.2%), and technology (15.2%) sectors. The fund's top holding is ASML Holding at 10.2% of assets.

  • FEZ was launched on October 15, 2002.
  • The fund's portfolio composition and metrics are as of March 27, 2026.

The players

State Street Corporation

The financial services and bank holding company that is the issuer of the FEZ ETF. State Street has over $5 trillion in assets under management and over $50 trillion under custody.

EURO STOXX 50® Index

The underlying index that FEZ tracks, which selects 50 of the largest Eurozone companies representing approximately 60% of the free-float market capitalization of the broader EURO STOXX Total Market Index.

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What they’re saying

“FEZ is well-suited for an allocation in Eurozone equities, either long-term or tactical. Compared to the S&P 500, FEZ offers attractive valuation.”

— Fred Piard, Author

What’s next

The portfolio composition and metrics provided are as of March 27, 2026, and may have changed by the time readers view this article.

The takeaway

FEZ provides investors with a concentrated, large-cap exposure to the Eurozone equity market, which currently has more attractive valuation metrics compared to the U.S. market. The fund's high liquidity and value tilt make it a compelling option for those seeking tactical or long-term allocation to Eurozone equities.