BWLP vs. EPOL

Last updated Jun 4, 2026

BWLP (BW LPG Limited) is a stock, while EPOL (iShares MSCI Poland ETF) is Europe Equities fund tracking the MSCI Poland Investable Market Index. Over the past 10 years, BWLP returned 65.84%/yr vs 11.45%/yr for EPOL. At a 0.09 correlation, their price movements are largely independent.

Performance

BWLP vs. EPOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BW LPG Limited (BWLP) and iShares MSCI Poland ETF (EPOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BWLP achieves a 60.26% return, which is significantly higher than EPOL's 13.58% return. Over the past 10 years, BWLP has outperformed EPOL with an annualized return of 65.84%, while EPOL has yielded a comparatively lower 11.45% annualized return.

BWLP

• 1D: -0.05%
• 1M: 0.20%
• YTD: 60.26%
• 6M: 73.26%
• 1Y: 109.04%
• 3Y*: 66.19%
• 5Y*: 123.22%
• 10Y*: 65.84%

EPOL

• 1D: -0.52%
• 1M: 5.18%
• YTD: 13.58%
• 6M: 22.93%
• 1Y: 40.50%
• 3Y*: 35.67%
• 5Y*: 15.78%
• 10Y*: 11.45%

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

BWLP vs. EPOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BWLP BW LPG Limited	60.26%	29.04%	0.32%	770.27%	272.29%	3.97%	1.05%	121.88%	7.61%	-0.95%
EPOL iShares MSCI Poland ETF	13.58%	77.34%	-2.61%	50.70%	-24.62%	12.21%	-8.38%	-6.13%	-13.76%	52.43%

Correlation

The correlation between BWLP and EPOL is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jan 29, 2014	0.09

Return for Risk

BWLP vs. EPOL — Risk / Return Rank

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

BWLP

BWLP Risk / Return Rank: 90
BWLP Sharpe Ratio Rank: 94
BWLP Sortino Ratio Rank: 91
BWLP Omega Ratio Rank: 90
BWLP Calmar Ratio Rank: 88
BWLP Martin Ratio Rank: 86

EPOL

EPOL Risk / Return Rank: 55
EPOL Sharpe Ratio Rank: 50
EPOL Sortino Ratio Rank: 50
EPOL Omega Ratio Rank: 45
EPOL Calmar Ratio Rank: 73
EPOL Martin Ratio Rank: 57

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.

BWLP vs. EPOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BW LPG Limited (BWLP) and iShares MSCI Poland ETF (EPOL). 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.

	BWLP	EPOL	Difference
Sharpe ratio: Return per unit of total volatility	2.93	1.76	+1.17
Sortino ratio: Return per unit of downside risk	3.34	2.49	+0.86
Omega ratio: Gain probability vs. loss probability	1.43	1.29	+0.14
Calmar ratio: Return relative to maximum drawdown	4.21	3.68	+0.53
Martin ratio: Return relative to average drawdown	9.31	10.07	-0.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BWLP vs. EPOL - Sharpe Ratio Comparison

The current BWLP Sharpe Ratio is 2.93, which is higher than the EPOL Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of BWLP and EPOL, 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

	BWLP	EPOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.93	1.76	+1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.16	0.55	+0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.42	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.21	+0.41

Drawdowns

BWLP vs. EPOL - Drawdown Comparison

The maximum BWLP drawdown since its inception was -68.80%, which is greater than EPOL's maximum drawdown of -63.72%. Use the drawdown chart below to compare losses from any high point for BWLP and EPOL.

Drawdown Indicators

	BWLP	EPOL	Difference
Max Drawdown Largest peak-to-trough decline	-68.80%	-63.72%	-5.08%
Max Drawdown (1Y) Largest decline over 1 year	-26.04%	-11.04%	-15.00%
Max Drawdown (3Y) Largest decline over 3 years	-54.28%	-21.81%	-32.47%
Max Drawdown (5Y) Largest decline over 5 years	-54.28%	-54.21%	-0.07%
Max Drawdown (10Y) Largest decline over 10 years	-68.80%	-61.41%	-7.39%
Current Drawdown Current decline from peak	-10.57%	-1.65%	-8.92%
Average Drawdown Average peak-to-trough decline	-20.72%	-26.89%	+6.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.76%	4.03%	+7.73%

Volatility

BWLP vs. EPOL - Volatility Comparison

BW LPG Limited (BWLP) has a higher volatility of 10.83% compared to iShares MSCI Poland ETF (EPOL) at 7.84%. This indicates that BWLP's price experiences larger fluctuations and is considered to be riskier than EPOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BWLP	EPOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.83%	7.84%	+2.99%
Volatility (6M) Calculated over the trailing 6-month period	28.63%	17.35%	+11.28%
Volatility (1Y) Calculated over the trailing 1-year period	37.39%	23.20%	+14.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.07%	29.06%	+78.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.66%	27.65%	+62.01%

Dividends

BWLP vs. EPOL - Dividend Comparison

BWLP's dividend yield for the trailing twelve months is around 5.89%, more than EPOL's 4.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BWLP BW LPG Limited	5.89%	10.08%	33.42%	70.60%	81.52%	24.41%	18.45%	7.70%	0.00%	0.00%	61.62%	31.19%
EPOL iShares MSCI Poland ETF	4.21%	4.78%	6.04%	2.87%	2.65%	1.33%	1.44%	2.51%	1.44%	1.88%	2.14%	2.53%

Frequently Asked Questions

Can I hold both BWLP and EPOL in my portfolio?

BWLP and EPOL have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BWLP or EPOL?

BWLP has higher volatility (10.83%) compared to EPOL (7.84%). In terms of maximum drawdown, BWLP dropped -68.80% vs EPOL's -63.72%.

Which has better risk-adjusted returns?

BWLP currently has the higher Sharpe Ratio (2.93 vs 1.76), 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.