^FCHI vs. EWK
^FCHI (CAC 40) is an index, while EWK (iShares MSCI Belgium ETF) is Europe Equities fund tracking the MSCI Belgium Investable Market Index. Over the past 10 years, ^FCHI returned 6.75%/yr vs 6.44%/yr for EWK. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
^FCHI vs. EWK - Performance Comparison
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Different Trading Currencies
^FCHI is traded in EUR, while EWK is traded in USD. To make them comparable, the EWK values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ^FCHI achieves a 2.17% return, which is significantly lower than EWK's 12.57% return. Both investments have delivered pretty close results over the past 10 years, with ^FCHI having a 6.75% annualized return and EWK not far behind at 6.44%.
^FCHI
- 1D
- 0.00%
- 1M
- -0.29%
- 6M
- -0.42%
- YTD
- 2.17%
- 1Y
- 6.35%
- 3Y*
- 4.87%
- 5Y*
- 4.98%
- 10Y*
- 6.75%
EWK
- 1D
- -1.19%
- 1M
- -2.66%
- 6M
- 9.58%
- YTD
- 12.57%
- 1Y
- 24.21%
- 3Y*
- 14.92%
- 5Y*
- 7.05%
- 10Y*
- 6.44%
^FCHI vs. EWK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^FCHI CAC 40 | 2.17% | 10.42% | -2.15% | 16.52% | -9.50% | 28.85% | -7.14% | 26.37% | -10.95% | 9.26% |
EWK iShares MSCI Belgium ETF | 12.57% | 19.32% | 6.75% | 4.25% | -8.65% | 21.28% | -8.21% | 28.76% | -16.66% | 8.50% |
Correlation
The correlation between ^FCHI and EWK is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2007 | 0.60 |
The correlation between ^FCHI and EWK shifts across timeframes, from 0.47 (3 years) to 0.60 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
^FCHI vs. EWK — Risk / Return Rank
^FCHI
EWK
^FCHI vs. EWK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CAC 40 (^FCHI) and iShares MSCI Belgium ETF (EWK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^FCHI | EWK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.30 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 1.69 | -1.22 |
| Martin ratioReturn relative to average drawdown | 1.38 | 6.30 | -4.92 |
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Drawdowns
^FCHI vs. EWK - Drawdown Comparison
The maximum ^FCHI drawdown since its inception was -65.29%, smaller than the maximum EWK drawdown of -70.39%. Use the drawdown chart below to compare losses from any high point for ^FCHI and EWK.
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Drawdown Indicators
| ^FCHI | EWK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.29% | -70.39% | +5.10% |
Max Drawdown (1Y)Largest decline over 1 year | -11.08% | -13.84% | +2.76% |
Max Drawdown (3Y)Largest decline over 3 years | -16.71% | -13.84% | -2.87% |
Max Drawdown (5Y)Largest decline over 5 years | -23.04% | -21.36% | -1.68% |
Max Drawdown (10Y)Largest decline over 10 years | -38.56% | -39.37% | +0.81% |
Current DrawdownCurrent decline from peak | -3.41% | -3.44% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -24.40% | -18.59% | -5.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.87% | 3.72% | +0.15% |
Volatility
^FCHI vs. EWK - Volatility Comparison
CAC 40 (^FCHI) and iShares MSCI Belgium ETF (EWK) have volatilities of 4.05% and 4.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^FCHI | EWK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | 4.14% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 11.65% | 11.94% | -0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.27% | 14.12% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.40% | 15.18% | +1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.40% | 17.19% | +0.21% |
Frequently Asked Questions
^FCHI and EWK have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWK has higher volatility (4.14%) compared to ^FCHI (4.05%). In terms of maximum drawdown, ^FCHI dropped -65.29% vs EWK's -70.39%.
EWK currently has the higher Sharpe Ratio (1.66 vs 0.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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