BBCA vs. EWC

Last updated Jun 4, 2026

BBCA (JPMorgan BetaBuilders Canada ETF) and EWC (iShares MSCI Canada ETF) are both Canada Equities funds - BBCA tracks the Morningstar Canada Target Market Exposure Index while EWC tracks the MSCI Canada Index. Both are passively managed. Over the past 5 years, BBCA returned 11.39%/yr vs 11.19%/yr for EWC. With a 0.98 correlation, they move nearly in lockstep. BBCA charges 0.19%/yr vs 0.49%/yr for EWC.

Performance

BBCA vs. EWC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders Canada ETF (BBCA) and iShares MSCI Canada ETF (EWC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BBCA having a 8.72% return and EWC slightly higher at 8.73%.

BBCA

• 1D: -1.27%
• 1M: 1.57%
• YTD: 8.72%
• 6M: 12.76%
• 1Y: 29.69%
• 3Y*: 21.63%
• 5Y*: 11.39%
• 10Y*: —

EWC

• 1D: -1.38%
• 1M: 1.30%
• YTD: 8.73%
• 6M: 12.75%
• 1Y: 31.36%
• 3Y*: 21.89%
• 5Y*: 11.19%
• 10Y*: 11.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBCA vs. EWC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BBCA JPMorgan BetaBuilders Canada ETF	8.72%	34.40%	12.79%	14.92%	-12.53%	28.16%	6.20%	28.93%	-15.39%
EWC iShares MSCI Canada ETF	8.73%	35.92%	12.38%	14.73%	-12.95%	26.98%	5.52%	27.58%	-15.94%

Correlation

The correlation between BBCA and EWC is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Aug 9, 2018	0.98

The correlation between BBCA and EWC has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

BBCA vs. EWC - Sectors Allocation Comparison

Sectors	BBCA	EWC
Financial Services	38.4%	38.1%
Energy	18.8%	19.1%
Basic Materials	14.4%	14.8%
Industrials	9.9%	9.4%
Technology	8.4%	8.4%
Consumer Cyclical	3.8%	3.8%
Consumer Defensive	3.2%	3.3%
Utilities	2.0%	2.3%
Communication Services	1.1%	0.7%
Healthcare	0.2%	-
Real Estate	0.2%	0.2%

Return for Risk

BBCA vs. EWC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBCA

BBCA Risk / Return Rank: 67
BBCA Sharpe Ratio Rank: 65
BBCA Sortino Ratio Rank: 62
BBCA Omega Ratio Rank: 63
BBCA Calmar Ratio Rank: 70
BBCA Martin Ratio Rank: 76

EWC

EWC Risk / Return Rank: 68
EWC Sharpe Ratio Rank: 66
EWC Sortino Ratio Rank: 62
EWC Omega Ratio Rank: 62
EWC Calmar Ratio Rank: 73
EWC Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBCA vs. EWC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Canada ETF (BBCA) and iShares MSCI Canada ETF (EWC). 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.

	BBCA	EWC	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.24	-0.03
Sortino ratio: Return per unit of downside risk	2.94	2.95	-0.01
Omega ratio: Gain probability vs. loss probability	1.39	1.39	0.00
Calmar ratio: Return relative to maximum drawdown	3.54	3.70	-0.16
Martin ratio: Return relative to average drawdown	14.56	15.25	-0.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBCA vs. EWC - Sharpe Ratio Comparison

The current BBCA Sharpe Ratio is 2.21, which is comparable to the EWC Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of BBCA and EWC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBCA	EWC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	2.24	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.65	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.41	+0.20

Drawdowns

BBCA vs. EWC - Drawdown Comparison

The maximum BBCA drawdown since its inception was -42.81%, smaller than the maximum EWC drawdown of -60.75%. Use the drawdown chart below to compare losses from any high point for BBCA and EWC.

Drawdown Indicators

	BBCA	EWC	Difference
Max Drawdown Largest peak-to-trough decline	-42.81%	-60.75%	+17.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-8.51%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-12.77%	-12.97%	+0.20%
Max Drawdown (5Y) Largest decline over 5 years	-24.43%	-24.81%	+0.38%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.66%	—
Current Drawdown Current decline from peak	-1.27%	-1.38%	+0.11%
Average Drawdown Average peak-to-trough decline	-5.87%	-13.14%	+7.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.06%	-0.02%

Volatility

BBCA vs. EWC - Volatility Comparison

JPMorgan BetaBuilders Canada ETF (BBCA) and iShares MSCI Canada ETF (EWC) have volatilities of 3.38% and 3.46%, 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.

Volatility by Period

	BBCA	EWC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	3.46%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	10.85%	11.03%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	13.49%	14.04%	-0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.69%	17.25%	-0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.14%	18.74%	+1.40%

BBCA vs. EWC - Expense Ratio Comparison

BBCA has a 0.19% expense ratio, which is lower than EWC's 0.49% expense ratio.

Dividends

BBCA vs. EWC - Dividend Comparison

BBCA's dividend yield for the trailing twelve months is around 1.74%, more than EWC's 1.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBCA JPMorgan BetaBuilders Canada ETF	1.74%	1.83%	2.36%	2.51%	2.65%	2.17%	2.41%	2.32%	1.21%	0.00%	0.00%	0.00%
EWC iShares MSCI Canada ETF	1.33%	1.45%	2.23%	2.27%	2.34%	1.85%	2.09%	2.16%	2.65%	1.97%	1.75%	2.34%

Frequently Asked Questions

Can I hold both BBCA and EWC in my portfolio?

With a correlation of 0.99, BBCA and EWC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BBCA or EWC?

EWC has higher volatility (3.46%) compared to BBCA (3.38%). In terms of maximum drawdown, BBCA dropped -42.81% vs EWC's -60.75%.

Which ETF is better, BBCA or EWC?

On 5-year performance, BBCA leads with 11.39% vs 11.19% for EWC. On fees, BBCA is cheaper at 0.19% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBCA or EWC?

Over the 5-year period, BBCA has performed better with a 11.39% return vs 11.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBCA or EWC?

BBCA is cheaper with a 0.19% expense ratio, compared with 0.49% for EWC.

Which ETF pays a higher dividend yield, BBCA or EWC?

BBCA has the higher dividend yield at 1.74%, compared with 1.33% for EWC.

What is the main difference between BBCA and EWC?

BBCA tracks Morningstar Canada Target Market Exposure Index, while EWC tracks MSCI Canada Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.19% for BBCA and 0.49% for EWC.

Which has better risk-adjusted returns?

EWC currently has the higher Sharpe Ratio (2.24 vs 2.21), 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.