Flex Ltd

ISIN SG9999000020

WKN 890331

Market cap (in EUR)

20,150 m

Country

United States

Sector

Technology

Dividend yield

0.00%

Overview

Quote

Description

Flex Ltd. operates as a manufacturing services company. It delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. The firm operates through the following segments: Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The Flex Agility Solutions segment consists of Communications, Enterprise and Cloud (CEC), including data infrastructure, edge infrastructure and communications infrastructure, Lifestyle, including appliances, consumer packaging, floorcare, micro mobility and audio and, Consumer Devices including mobile and high velocity consumer devices. The Flex Reliability Solutions segment consists of Automotive, including autonomous, connectivity, electrification, and smart technologies, Health Solutions, including medical devices, medical equipment and drug delivery, Industrial, including capital equipment, industrial devices, and Renewable, including NEXTracker business, grid edge, and power systems. The company was founded by Joe McKenzie and Barbara-Ann McKenzie in 1969 and is headquartered in Austin, TX.

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Technology Electronic Components and Manufacturing Manufacturing Equipment and Services United States

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Financials

Key metrics

Market capitalisation, EUR	20,150 m
EPS, EUR	1.98
P/B ratio	4.6
P/E ratio	28.4
Dividend yield	0.00%

Income statement (2024)

Revenue, EUR	24,051 m
Net income, EUR	781 m
Profit margin	3.25%

What ETF is Flex Ltd in?

There are 187 ETFs which contain Flex Ltd. All of these ETFs are listed in the table below. The ETF with the largest weighting of Flex Ltd is the iShares AI Innovation Active UCITS ETF USD (Acc).

ETF	Weight	Investment focus	Fund size (in m EUR)
iShares MSCI World Sector & Country Neutral Equal Weight UCITS ETF USD (Acc)	0.28%	Equity World Equal Weighted	18
UBS MSCI USA Select Factor Mix UCITS ETF hEUR acc	0.07%	Equity United States Multi-Factor Strategy	8
UBS Core MSCI World UCITS ETF USD acc	0.03%	Equity World	7,380
UBS Core MSCI World UCITS ETF hCHF acc	0.03%	Equity World	861
Xtrackers MSCI USA Screened UCITS ETF 1C	0.04%	Equity United States Social/Environmental	285
iShares MSCI USA Mid-Cap Equal Weight UCITS ETF USD (Acc)	0.33%	Equity United States Mid Cap	284
iShares Core MSCI World UCITS ETF USD (Dist)	0.03%	Equity World	475
Invesco FTSE RAFI All World 3000 UCITS ETF	0.10%	Equity World Fundamental/Quality	185
iShares World Equity Enhanced Active UCITS ETF EUR Hedged (Acc)	0.04%	Equity World Social/Environmental Multi-Asset Strategy	145
iShares MSCI USA Value Factor Advanced UCITS ETF USD (Acc)	0.31%	Equity United States Value	105
Amundi Core MSCI USA UCITS ETF EUR Hedged (Acc)	0.04%	Equity United States	9
iShares MSCI USA ESG Enhanced CTB UCITS ETF USD (Dist)	0.01%	Equity United States Social/Environmental	12,775
Amundi MSCI USA Screened UCITS ETF Acc	0.04%	Equity United States Social/Environmental	479
UBS ETF (IE) MSCI USA UCITS ETF (USD) A-UKdis	0.04%	Equity United States	47
UBS MSCI USA NSL UCITS ETF USD acc	0.04%	Equity United States	2,715
UBS Core MSCI World UCITS ETF USD dis	0.03%	Equity World	1,380
UBS MSCI World UCITS ETF USD dis	0.02%	Equity World	1,335
Vanguard FTSE Developed World UCITS ETF Acc	0.03%	Equity World	5,050
BNP Paribas Easy MSCI World Equal Weight Select UCITS ETF USD Acc	0.09%	Equity World Equal Weighted	22
iShares MSCI USA ESG Enhanced CTB UCITS ETF EUR Hedged (Acc)	0.01%	Equity United States Social/Environmental	1,752
Vanguard LifeStrategy 40% Equity UCITS ETF Distributing	0.00%	Equity World Multi-Asset Strategy	37
BNP Paribas Easy MSCI World Min TE UCITS ETF EUR Acc	0.02%	Equity World Social/Environmental	457
iShares MSCI ACWI UCITS ETF USD (Dist)	0.02%	Equity World	5
State Street SPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Acc)	0.00%	Equity World	4,440
Xtrackers MSCI AC World Screened UCITS ETF 2C - EUR Hedged	0.03%	Equity World Social/Environmental	70
UBS MSCI USA Value UCITS ETF USD dis	0.08%	Equity United States Value	459
Amundi Core MSCI USA UCITS ETF Acc	0.04%	Equity United States	2,907
iShares Dow Jones Global Leaders Screened UCITS ETF USD (Acc)	0.11%	Equity World Social/Environmental	1,625
iShares MSCI USA Screened UCITS ETF USD (Dist)	0.04%	Equity United States Social/Environmental	1,267
Amundi MSCI World Catholic Principles UCITS ETF Acc	0.04%	Equity World Social/Environmental Catholic principles	87
Vanguard ESG Global All Cap UCITS ETF (USD) Distributing	0.03%	Equity World Social/Environmental	488
State Street SPDR MSCI World UCITS ETF USD Unhedged	0.03%	Equity World	14,716
Franklin U.S. Equity UCITS ETF	0.11%	Equity United States Multi-Factor Strategy	56
State Street SPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Dist)	0.00%	Equity World	85
Scalable MSCI AC World Xtrackers UCITS ETF 1C	0.02%	Equity World	484
Vanguard FTSE Developed World UCITS ETF Distributing	0.03%	Equity World	3,552
Invesco FTSE RAFI US 1000 UCITS ETF	0.10%	Equity United States Fundamental/Quality	615
Vanguard FTSE North America UCITS ETF (USD) Accumulating	0.04%	Equity North America	2,186
HSBC MSCI USA Islamic Screened UCITS ETF USD (Acc)	0.12%	Equity United States Social/Environmental Islamic Investing	44
UBS MSCI ACWI Universal UCITS ETF hEUR acc	0.02%	Equity World Social/Environmental	647
JPMorgan Global Equity Multi-Factor UCITS ETF USD (Dist)	0.28%	Equity World Multi-Factor Strategy	0
Vanguard LifeStrategy 20% Equity UCITS ETF Distributing	0.00%	Equity World Multi-Asset Strategy	14
HSBC USA Screened Equity UCITS ETF USD	0.08%	Equity United States Social/Environmental Climate Change	613
UBS MSCI USA ex Mega Cap UCITS ETF USD acc	0.06%	Equity United States	2
State Street SPDR MSCI All Country World UCITS ETF USD Hedged (Acc)	0.02%	Equity World	66
Amundi MSCI World Momentum Advanced UCITS ETF Acc	0.26%	Equity World Momentum Climate Change	493
UBS Core MSCI USA UCITS ETF EUR Hedged acc	0.04%	Equity United States	666
Xtrackers MSCI World UCITS ETF 2C - EUR Hedged	0.03%	Equity World	359
State Street SPDR MSCI World UCITS ETF GBP Hedged (Dist)	0.03%	Equity World	263
Xtrackers MSCI World Screened UCITS ETF 1D	0.03%	Equity World Social/Environmental	119
Xtrackers MSCI World UCITS ETF 1D	0.03%	Equity World	4,284
Xtrackers MSCI AC World Screened UCITS ETF 1C	0.03%	Equity World Social/Environmental	5,151
L&G US ESG Exclusions Paris Aligned UCITS ETF USD Accumulating	0.04%	Equity United States Social/Environmental Climate Change	154
First Trust US Momentum UCITS ETF Class A Accumulation	0.16%	Equity United States Momentum	71
UBS Factor MSCI USA Prime Value Screened UCITS ETF hEUR acc	0.38%	Equity United States Value Climate Change	16
iShares AI Innovation Active UCITS ETF USD (Acc)	2.06%	Equity World Social/Environmental Artificial Intelligence	118
iShares MSCI World Islamic UCITS ETF	0.11%	Equity World Islamic Investing	909
UBS Core MSCI USA UCITS ETF USD acc	0.04%	Equity United States	2,243
iShares MSCI World Screened UCITS ETF USD (Dist)	0.03%	Equity World Social/Environmental	1,003
Xtrackers MSCI USA Information Technology UCITS ETF 1D	0.12%	Equity United States Technology	1,540
iShares World Equity Enhanced Active UCITS ETF GBP Hedged (Acc)	0.04%	Equity World Social/Environmental Multi-Asset Strategy	43
iShares MSCI USA ESG Enhanced CTB UCITS ETF USD (Acc)	0.01%	Equity United States Social/Environmental	7,107
UBS MSCI ACWI Universal UCITS ETF USD dis	0.02%	Equity World Social/Environmental	2,088
BNP Paribas Easy MSCI ACWI SRI S-Series PAB 5% Capped UCITS ETF EUR Acc	0.02%	Equity World Social/Environmental	15
HSBC MSCI World UCITS ETF CHF hedged	0.02%	Equity World	74
HSBC MSCI World UCITS ETF EUR Hedged (Acc)	0.02%	Equity World	675
Amundi MSCI USA ESG Broad Transition UCITS ETF Dist	0.01%	Equity United States Social/Environmental Climate Change	1,589
HSBC USA Screened Equity UCITS ETF USD (Dist)	0.08%	Equity United States Social/Environmental Climate Change	81
iShares MSCI World Mid-Cap Equal Weight UCITS ETF USD (Acc)	0.13%	Equity World Mid Cap	362
UBS MSCI USA Select Factor Mix UCITS ETF USD acc	0.07%	Equity United States Multi-Factor Strategy	98
iShares MSCI World Screened UCITS ETF USD (Acc)	0.03%	Equity World Social/Environmental	4,545
Amundi Core MSCI World UCITS ETF USD Dist	0.03%	Equity World	1,376
Amundi MSCI USA Ex Mega Cap UCITS ETF Acc	0.10%	Equity United States	35
UBS MSCI ACWI Universal UCITS ETF hGBP acc	0.02%	Equity World Social/Environmental	278
Vanguard LifeStrategy 40% Equity UCITS ETF Accumulating	0.00%	Equity World Multi-Asset Strategy	205
iShares MSCI ACWI Screened UCITS ETF USD (Acc)	0.03%	Equity World Social/Environmental	197
Amundi Core MSCI USA UCITS ETF Dist	0.04%	Equity United States	913
Amundi MSCI North America ESG Broad Transition UCITS ETF Acc	0.01%	Equity North America Social/Environmental Climate Change	461
UBS MSCI ACWI Universal UCITS ETF hJPY acc	0.02%	Equity World Social/Environmental	102
State Street SPDR MSCI World Technology UCITS ETF USD	0.10%	Equity World Technology	871
BNP Paribas Easy MSCI World Equal Weight Select UCITS ETF EUR Acc	0.09%	Equity World Equal Weighted	33
iShares Russell 1000 Value UCITS ETF USD (Acc)	0.08%	Equity United States Value	393
Vanguard FTSE North America UCITS ETF (USD) Distributing	0.04%	Equity North America	2,520
State Street SPDR S&P 400 U.S. Mid Cap UCITS ETF USD Unhedged (Dist)	0.70%	Equity United States Mid Cap	17
State Street SPDR S&P 400 U.S. Mid Cap UCITS ETF EUR Hedged (Dist)	0.70%	Equity United States Mid Cap	48
iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist)	0.20%	Equity United States Value	127
Invesco Global Active Defensive ESG Equity UCITS ETF EUR PfHdg Acc	0.20%	Equity World Low Volatility/Risk Weighted Climate Change	58
Xtrackers MSCI USA Screened UCITS ETF 2C - EUR Hedged	0.04%	Equity United States Social/Environmental	63
iShares MSCI World UCITS ETF (Dist)	0.03%	Equity World	7,304
BNP Paribas Easy MSCI ACWI SRI S-Series PAB 5% Capped UCITS ETF USD C	0.03%	Equity World Social/Environmental	24
Vanguard LifeStrategy 80% Equity UCITS ETF (EUR) Accumulating	0.01%	Equity World Multi-Asset Strategy	944
iShares Core MSCI World UCITS ETF EUR Hedged (Dist)	0.03%	Equity World	1,570
Amundi MSCI World ESG Broad Transition UCITS ETF Dist	0.01%	Equity World Social/Environmental Climate Change	236
iShares MSCI USA Islamic UCITS ETF	0.19%	Equity United States Islamic Investing	293
Vanguard FTSE All-World UCITS ETF (USD) Accumulating	0.02%	Equity World	31,002
UBS MSCI USA Select Factor Mix UCITS ETF USD dis	0.07%	Equity United States Multi-Factor Strategy	25
HSBC MSCI World UCITS ETF USD (Acc)	0.02%	Equity World	1,538
Xtrackers MSCI USA UCITS ETF 1D	0.04%	Equity United States	244
HSBC MSCI World UCITS ETF USD	0.02%	Equity World	12,343
L&G Gerd Kommer Multifactor Equity UCITS ETF USD Distributing	0.04%	Equity World Multi-Factor Strategy	171
iShares MSCI World ESG Enhanced CTB UCITS ETF USD (Acc)	0.01%	Equity World Social/Environmental	3,801
iShares MSCI North America UCITS ETF	0.04%	Equity North America	1,217
Xtrackers MSCI World UCITS ETF 3C - CHF Hedged	0.03%	Equity World	42
BNP Paribas Easy ESG Enhanced World UCITS ETF EUR Capitalisation	0.11%	Equity World Social/Environmental	429
Invesco Global Enhanced Equity UCITS ETF Acc	0.10%	Equity World Multi-Factor Strategy	412
UBS MSCI ACWI Universal UCITS ETF hCHF dis	0.02%	Equity World Social/Environmental	34
JPMorgan BetaBuilders US Equity UCITS ETF (Dist)	0.04%	Equity United States	2
Xtrackers MSCI AC World Screened UCITS ETF 5C - USD Hedged	0.03%	Equity World Social/Environmental	1
UBS Core MSCI World UCITS ETF hGBP dis	0.03%	Equity World	90
UBS Core MSCI World UCITS ETF hGBP acc	0.03%	Equity World	38
HSBC Developed World Screened Equity UCITS ETF USD (Dist)	0.04%	Equity World Social/Environmental Climate Change	58
UBS MSCI ACWI Universal UCITS ETF hCHF acc	0.02%	Equity World Social/Environmental	1,386
iShares MSCI ACWI UCITS ETF USD (Acc)	0.02%	Equity World	23,004
Vanguard LifeStrategy 80% Equity UCITS ETF Distributing	0.01%	Equity World Multi-Asset Strategy	70
Xtrackers MSCI USA UCITS ETF 1C	0.04%	Equity United States	9,331
Xtrackers MSCI World Momentum ESG UCITS ETF	0.12%	Equity World Momentum	215
UBS Core MSCI World UCITS ETF hEUR acc	0.03%	Equity World	409
Invesco Nasdaq Next Generation 100 UCITS ETF Acc	1.20%	Equity United States Technology	34
UBS Core MSCI USA UCITS ETF EUR Hedged dis	0.04%	Equity United States	269
Xtrackers MSCI World Information Technology UCITS ETF 1C	0.11%	Equity World Technology	4,247
L&G MSCI World Mid Cap UCITS ETF USD Acc	0.18%	Equity World Mid Cap	6
UBS MSCI USA Select Factor Mix UCITS ETF hCHF acc	0.07%	Equity United States Multi-Factor Strategy	25
State Street SPDR MSCI All Country World UCITS ETF EUR Hedged (Acc)	0.02%	Equity World	1,061
Franklin FTSE Developed World UCITS ETF USD Capitalisation	0.03%	Equity World	17
iShares Core MSCI World UCITS ETF GBP Hedged (Dist)	0.03%	Equity World	971
BNP Paribas Easy MSCI World Min TE UCITS ETF USD Acc	0.02%	Equity World Social/Environmental	127
UBS Core MSCI USA UCITS ETF CHF Hedged acc	0.04%	Equity United States	495
L&G Gerd Kommer Multifactor Equity UCITS ETF USD Accumulating	0.04%	Equity World Multi-Factor Strategy	968
Vanguard ESG North America All Cap UCITS ETF (USD) Distributing	0.04%	Equity North America Social/Environmental	24
iShares MSCI World EUR Hedged UCITS ETF (Acc)	0.03%	Equity World	4,687
Amundi Core MSCI World UCITS ETF Acc	0.03%	Equity World	12,290
iShares Edge MSCI USA Momentum Factor UCITS ETF USD (Dist)	0.12%	Equity United States Momentum	10
iShares MSCI World Climate Transition Aware UCITS ETF USD (Acc)	0.04%	Equity World Social/Environmental Climate Change	6
JPMorgan BetaBuilders US Equity UCITS ETF (Acc)	0.04%	Equity United States	71
Vanguard LifeStrategy 20% Equity UCITS ETF Accumulating	0.00%	Equity World Multi-Asset Strategy	92
iShares Edge MSCI USA Value Factor UCITS ETF	0.19%	Equity United States Value	2,718
iShares MSCI USA Screened UCITS ETF USD (Acc)	0.04%	Equity United States Social/Environmental	13,772
UBS Factor MSCI USA Prime Value Screened UCITS ETF USD dis	0.38%	Equity United States Value Climate Change	198
UBS Core MSCI USA UCITS ETF hGBP acc	0.04%	Equity United States	39
iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)	0.07%	Equity World Momentum	3,399
Vanguard LifeStrategy 60% Equity UCITS ETF Accumulating	0.01%	Equity World Multi-Asset Strategy	726
Xtrackers MSCI World UCITS ETF 2D - GBP Hedged	0.03%	Equity World	382
Amundi MSCI USA ESG Broad Transition UCITS ETF Acc	0.01%	Equity United States Social/Environmental Climate Change	2,576
iShares Core MSCI World UCITS ETF USD (Acc)	0.03%	Equity World	110,978
Xtrackers MSCI World UCITS ETF 1C	0.03%	Equity World	16,664
Invesco Global Enhanced Equity UCITS ETF EUR PfHdg Acc	0.10%	Equity World Multi-Factor Strategy	7
State Street SPDR MSCI USA Value UCITS ETF USD	0.28%	Equity United States Value	158
iShares MSCI World Climate Transition Aware UCITS ETF USD (Dist)	0.04%	Equity World Social/Environmental Climate Change	2
iShares MSCI World GBP Hedged UCITS ETF (Acc)	0.03%	Equity World	473
iShares World Equity Enhanced Active UCITS ETF USD (Acc)	0.04%	Equity World Social/Environmental Multi-Asset Strategy	1,363
Vanguard ESG North America All Cap UCITS ETF (USD) Accumulating	0.04%	Equity North America Social/Environmental	254
State Street SPDR MSCI World UCITS ETF EUR Hedged (Acc)	0.03%	Equity World	668
Amundi MSCI World ESG Broad Transition UCITS ETF Acc	0.01%	Equity World Social/Environmental Climate Change	975
Amundi Core MSCI World UCITS ETF EUR Hedged Acc	0.03%	Equity World	48
UBS Core MSCI USA UCITS ETF USD dis	0.04%	Equity United States	1,118
Vanguard FTSE All-World UCITS ETF (USD) Distributing	0.02%	Equity World	19,477
iShares MSCI World Screened UCITS ETF GBP Hedged (Dist)	0.03%	Equity World Social/Environmental	84
UBS MSCI USA Universal UCITS ETF USD acc	0.02%	Equity United States Social/Environmental Climate Change	3
UBS MSCI ACWI Universal UCITS ETF hUSD acc	0.02%	Equity World Social/Environmental	1,184
iShares MSCI USA ESG Enhanced CTB UCITS ETF GBP Hedged (Dist)	0.01%	Equity United States Social/Environmental	532
BNP Paribas Easy ESG Enhanced World UCITS ETF USD Acc	0.11%	Equity World Social/Environmental	13
State Street SPDR S&P 400 U.S. Mid Cap Leaders UCITS ETF USD Unhedged (Acc)	1.57%	Equity United States Mid Cap	4
iShares MSCI USA Screened UCITS ETF EUR Hedged (Acc)	0.04%	Equity United States Social/Environmental	749
iShares Edge MSCI USA Momentum Factor UCITS ETF	0.12%	Equity United States Momentum	429
State Street SPDR MSCI All Country World UCITS ETF USD Unhedged (Acc)	0.02%	Equity World	8,375
iShares MSCI USA Climate Transition Aware UCITS ETF USD (Acc)	0.05%	Equity United States Social/Environmental Climate Change	5
Xtrackers MSCI World Momentum UCITS ETF 1C	0.07%	Equity World Momentum	1,585
iShares MSCI USA UCITS ETF (Acc)	0.04%	Equity United States	3,264
Xtrackers MSCI USA UCITS ETF 3C CHF Hedged	0.04%	Equity United States	302
iShares MSCI World Information Technology Sector Advanced UCITS ETF USD (Dist)	0.03%	Equity World Technology Social/Environmental	634
HSBC MSCI World Islamic Screened UCITS ETF USD (Acc)	0.06%	Equity World Social/Environmental Islamic Investing	68
iShares MSCI USA Climate Transition Aware UCITS ETF USD (Dist)	0.05%	Equity United States Social/Environmental Climate Change	1
JPMorgan Global Equity Multi-Factor UCITS ETF Accumulating	0.28%	Equity World Multi-Factor Strategy	211
UBS MSCI World ex Mega Cap UCITS ETF USD acc	0.05%	Equity World	32
Amundi MSCI World ESG Broad Transition UCITS ETF EUR Hedged (Acc)	0.01%	Equity World Social/Environmental Climate Change	2
iShares MSCI World ESG Enhanced CTB UCITS ETF EUR Hedged (Acc)	0.01%	Equity World Social/Environmental	218
iShares MSCI World ESG Enhanced CTB UCITS ETF USD (Dist)	0.01%	Equity World Social/Environmental	954
Invesco US Enhanced Equity UCITS ETF Acc	0.10%	Equity United States Multi-Factor Strategy	58
Invesco Global Active Defensive ESG Equity UCITS ETF Acc	0.10%	Equity World Low Volatility/Risk Weighted Climate Change	3
State Street SPDR S&P 400 U.S. Mid Cap UCITS ETF USD Unhedged (Acc)	0.70%	Equity United States Mid Cap	4,643
UBS Factor MSCI USA Prime Value Screened UCITS ETF hGBP dis	0.38%	Equity United States Value Climate Change	4
Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating	0.03%	Equity World Social/Environmental	734
HSBC Developed World Screened Equity UCITS ETF USD	0.04%	Equity World Social/Environmental Climate Change	250
Amundi MSCI World Screened UCITS ETF Acc	0.03%	Equity World Social/Environmental	1,174
Vanguard LifeStrategy 60% Equity UCITS ETF Distributing	0.01%	Equity World Multi-Asset Strategy	91
Xtrackers MSCI USA UCITS ETF 2C EUR Hedged	0.04%	Equity United States	504
UBS MSCI USA UCITS ETF USD dis	0.03%	Equity United States	445

Performance

Returns overview

YTD	+2.46%
1 month	+2.86%
3 months	-7.83%
6 months	+12.31%
1 year	+78.92%
3 years	+164.35%
5 years	+265.00%
Since inception (MAX)	+570.20%
2025	+50.70%
2024	+27.40%
2023	+35.73%
2022	+30.47%

Monthly returns in a heat map

Risk

Risk metrics in this section:

Volatility, annualised, measured for 1, 3 and 5 year periods. The annualised volatility reflects the degree of price fluctuations during a one year period. The higher the volatility, the more significantly the price of the asset (stock, ETF, etc.) has changed in the past. Assets with higher volatility are generally considered more risky. We calculate the volatility based on the data for the past 1, 3 and 5 years so that you can see if price fluctuations for the ETF became stronger or weaker over time.
Return per risk for 1, 3 and 5 year periods. This is the annualised (i.e. converted to a one year period) past return divided by the past annualised volatility. The metric puts the historical return of an asset in relation to its historical risk and gives you a retrospective indication of the degree of price fluctuation you had to bear with in order to obtain the return. We calculate this parameter for 1, 3 and 5 year periods to display its evolution over time.
Maximum drawdown for a period. This shows the worst possible loss an investor could have suffered during the respective period, by first buying and subsequently selling the asset at the least favourable prices. For example, if there was the following sequence of daily ETF prices: 10€, 5€, 12€, 20€, an investor would have suffered the worst loss by buying for 10€ and subsequently selling for 5€. Therefore in this case the maximum drawdown would be (5€ - 10€)/10€ = -50%.

ETF returns include dividend payments (if applicable).