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BKF vs. EWH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BKF vs. EWH

Last updated Jun 24, 2026

BKF (iShares MSCI BRIC ETF) and EWH (iShares MSCI Hong Kong ETF) are both Asia Pacific Equities funds from iShares - BKF tracks the MSCI BRIC Index while EWH tracks the MSCI Hong Kong Index. Both are passively managed. Over the past 10 years, BKF returned 4.92%/yr vs 4.69%/yr for EWH. A 0.77 correlation means they provide meaningful diversification when combined. BKF charges 0.69%/yr vs 0.49%/yr for EWH.

Performance

BKF vs. EWH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI BRIC ETF (BKF) and iShares MSCI Hong Kong ETF (EWH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BKF achieves a -10.85% return, which is significantly lower than EWH's 1.00% return. Both investments have delivered pretty close results over the past 10 years, with BKF having a 4.92% annualized return and EWH not far behind at 4.69%.

BKF

1D
-2.58%
1M
-3.70%
YTD
-10.85%
6M
-11.19%
1Y
-2.61%
3Y*
6.90%
5Y*
-4.53%
10Y*
4.92%

EWH

1D
-0.98%
1M
-8.64%
YTD
1.00%
6M
-1.14%
1Y
14.36%
3Y*
8.16%
5Y*
-1.00%
10Y*
4.69%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BKF vs. EWH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BKF
iShares MSCI BRIC ETF		-10.85%22.30%9.24%1.27%-21.78%-11.87%16.52%22.93%-13.80%41.80%
EWH
iShares MSCI Hong Kong ETF		1.00%34.50%0.00%-13.87%-6.81%-3.49%4.17%10.74%-8.76%36.46%

Correlation

The correlation between BKF and EWH is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.65

Correlation (3Y)
Calculated over the trailing 3-year period

0.74

Correlation (5Y)
Calculated over the trailing 5-year period

0.73

Correlation (10Y)
Calculated over the trailing 10-year period

0.74

Correlation (All Time)
Calculated using the full available price history since Nov 20, 2007

0.77

The correlation between BKF and EWH shifts across timeframes, from 0.65 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

BKF vs. EWH - Sectors Allocation Comparison

Sectors
BKF
EWH

Financial Services

23.9%
43.9%

Consumer Cyclical

18.4%
3.9%

Communication Services

12.3%
1.7%

Technology

9.6%

-

Basic Materials

7.6%

-

Industrials

7.5%
18.3%

Energy

6.9%

-

Healthcare

5.0%

-

Consumer Defensive

3.9%
2.6%

Utilities

3.7%
11.6%

Real Estate

1.3%
18.0%

Financial Services

BKF
23.9%
EWH
43.9%

Consumer Cyclical

BKF
18.4%
EWH
3.9%

Communication Services

BKF
12.3%
EWH
1.7%

Technology

BKF
9.6%
EWH

-

Basic Materials

BKF
7.6%
EWH

-

Industrials

BKF
7.5%
EWH
18.3%

Energy

BKF
6.9%
EWH

-

Healthcare

BKF
5.0%
EWH

-

Consumer Defensive

BKF
3.9%
EWH
2.6%

Utilities

BKF
3.7%
EWH
11.6%

Real Estate

BKF
1.3%
EWH
18.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI BRIC ETF

iShares MSCI Hong Kong ETF

Often compared with BKF:
BKF vs. VWOBKF vs. SPYBKF vs. VOOBKF vs. FPADXBKF vs. FSPSXBKF vs. VBBKF vs. SCHE
Often compared with EWH:
EWH vs. MCHIEWH vs. FXIEWH vs. EWSEWH vs. EWYEWH vs. EWTEWH vs. EWJEWH vs. EPP

Return for Risk

BKF vs. EWH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BKF
BKF Risk / Return Rank: 77
Overall Rank
BKF Sharpe Ratio Rank: 77
Sharpe Ratio Rank
BKF Sortino Ratio Rank: 77
Sortino Ratio Rank
BKF Omega Ratio Rank: 77
Omega Ratio Rank
BKF Calmar Ratio Rank: 77
Calmar Ratio Rank
BKF Martin Ratio Rank: 77
Martin Ratio Rank
EWH
EWH Risk / Return Rank: 2525
Overall Rank
EWH Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
EWH Sortino Ratio Rank: 2424
Sortino Ratio Rank
EWH Omega Ratio Rank: 2323
Omega Ratio Rank
EWH Calmar Ratio Rank: 2424
Calmar Ratio Rank
EWH Martin Ratio Rank: 2828
Martin Ratio Rank
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.

BKF vs. EWH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI BRIC ETF (BKF) and iShares MSCI Hong Kong ETF (EWH). 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.

BKFEWHDifference
Sharpe ratioReturn per unit of total volatility
-0.16
0.86

-1.03

Sortino ratioReturn per unit of downside risk
-0.12
1.30

-1.42

Omega ratioGain probability vs. loss probability

0.99

1.16

-0.17

Calmar ratioReturn relative to maximum drawdown

-0.18

1.12

-1.30

Martin ratioReturn relative to average drawdown

-0.44

3.61

-4.05

BKF vs. EWH - Sharpe Ratio Comparison

The current BKF Sharpe Ratio is -0.16, which is lower than the EWH Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of BKF and EWH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BKF vs. EWH - Drawdown Comparison

The maximum BKF drawdown since its inception was -70.29%, which is greater than EWH's maximum drawdown of -66.44%. Use the drawdown chart below to compare losses from any high point for BKF and EWH.

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Drawdown Indicators

BKFEWHDifference

Max Drawdown

Largest peak-to-trough decline

-70.29%

-66.44%

-3.85%

Max Drawdown (1Y)

Largest decline over 1 year

-14.62%

-12.91%

-1.71%

Max Drawdown (3Y)

Largest decline over 3 years

-18.60%

-24.93%

+6.33%

Max Drawdown (5Y)

Largest decline over 5 years

-44.94%

-41.28%

-3.66%

Max Drawdown (10Y)

Largest decline over 10 years

-49.20%

-42.71%

-6.49%

Current Drawdown

Current decline from peak

-27.80%

-12.58%

-15.22%

Average Drawdown

Average peak-to-trough decline

-28.10%

-19.46%

-8.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.91%

3.99%

+1.92%

Volatility

BKF vs. EWH - Volatility Comparison

iShares MSCI BRIC ETF (BKF) and iShares MSCI Hong Kong ETF (EWH) have volatilities of 5.42% and 5.32%, 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

BKFEWHDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.42%

5.32%

+0.10%

Volatility (6M)

Calculated over the trailing 6-month period

13.05%

12.49%

+0.56%

Volatility (1Y)

Calculated over the trailing 1-year period

15.91%

16.78%

-0.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.59%

20.11%

+1.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.73%

19.54%

+2.19%

BKF vs. EWH - Expense Ratio Comparison

BKF has a 0.69% expense ratio, which is higher than EWH's 0.49% expense ratio.

Dividends

BKF vs. EWH - Dividend Comparison

BKF's dividend yield for the trailing twelve months is around 1.63%, less than EWH's 4.90% yield.

PositionTTM20252024202320222021202020192018201720162015
BKF
iShares MSCI BRIC ETF		1.63%1.79%2.37%1.68%2.04%2.93%1.02%1.66%2.33%1.51%1.82%3.15%
EWH
iShares MSCI Hong Kong ETF		4.90%5.20%4.17%4.28%2.91%2.78%2.56%2.71%2.93%4.35%3.08%2.63%

Frequently Asked Questions

BKF and EWH have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BKF has higher volatility (5.42%) compared to EWH (5.32%). In terms of maximum drawdown, BKF dropped -70.29% vs EWH's -66.44%.

On 10-year performance, BKF leads with 4.92% vs 4.69% for EWH. On fees, EWH is cheaper at 0.49% per year. On volatility, EWH has been the lower-risk option at 5.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, BKF has performed better with a 4.92% return vs 4.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWH is cheaper with a 0.49% expense ratio, compared with 0.69% for BKF.

EWH has the higher dividend yield at 4.90%, compared with 1.63% for BKF.

BKF tracks MSCI BRIC Index, while EWH tracks MSCI Hong Kong Index. Their fees differ too: 0.69% for BKF and 0.49% for EWH.

EWH currently has the higher Sharpe Ratio (0.86 vs -0.16), 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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