CWO.NEO vs. CRQ.NEO
CWO.NEO (iShares Emerging Markets Fundamental Index ETF) and CRQ.NEO (iShares Canadian Fundamental Index ETF) are both exchange-traded funds - CWO.NEO is a Emerging Markets Equities fund tracking the FTSE RAFI Emerging Markets Index, while CRQ.NEO is a Canada Equities fund tracking the FTSE RAFI Canada Index. Both are passively managed. Over the past 10 years, CWO.NEO returned 11.24%/yr vs 13.46%/yr for CRQ.NEO. At a 0.49 correlation, their price movements are largely independent. CWO.NEO charges 0.73%/yr vs 0.72%/yr for CRQ.NEO.
Performance
CWO.NEO vs. CRQ.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, CWO.NEO achieves a 13.27% return, which is significantly lower than CRQ.NEO's 17.22% return. Over the past 10 years, CWO.NEO has underperformed CRQ.NEO with an annualized return of 11.24%, while CRQ.NEO has yielded a comparatively higher 13.46% annualized return.
CWO.NEO
- 1D
- -0.47%
- 1M
- 2.68%
- YTD
- 13.27%
- 6M
- 12.25%
- 1Y
- 33.89%
- 3Y*
- 22.83%
- 5Y*
- 11.44%
- 10Y*
- 11.24%
CRQ.NEO
- 1D
- 1.11%
- 1M
- 4.70%
- YTD
- 17.22%
- 6M
- 20.22%
- 1Y
- 44.45%
- 3Y*
- 26.75%
- 5Y*
- 17.85%
- 10Y*
- 13.46%
CWO.NEO vs. CRQ.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CWO.NEO iShares Emerging Markets Fundamental Index ETF | 13.27% | 26.34% | 22.33% | 9.56% | -9.03% | 7.13% | -3.12% | 10.86% | -0.29% | 17.16% |
CRQ.NEO iShares Canadian Fundamental Index ETF | 17.22% | 31.87% | 22.17% | 9.76% | 0.89% | 33.95% | -2.73% | 19.66% | -10.18% | 6.98% |
Correlation
The correlation between CWO.NEO and CRQ.NEO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2009 | 0.49 |
The correlation between CWO.NEO and CRQ.NEO shifts across timeframes, from 0.28 (5 years) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CWO.NEO vs. CRQ.NEO — Risk / Return Rank
CWO.NEO
CRQ.NEO
CWO.NEO vs. CRQ.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Markets Fundamental Index ETF (CWO.NEO) and iShares Canadian Fundamental Index ETF (CRQ.NEO). 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.
| CWO.NEO | CRQ.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.36 | ||
| Sortino ratioReturn per unit of downside risk | -3.41 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 2.03 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 6.53 | -3.41 |
| Martin ratioReturn relative to average drawdown | 11.86 | 31.92 | -20.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CWO.NEO | CRQ.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 4.55 | -2.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 1.45 | -0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 0.83 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.69 | -0.24 |
Drawdowns
CWO.NEO vs. CRQ.NEO - Drawdown Comparison
The maximum CWO.NEO drawdown since its inception was -31.99%, smaller than the maximum CRQ.NEO drawdown of -41.75%. Use the drawdown chart below to compare losses from any high point for CWO.NEO and CRQ.NEO.
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Drawdown Indicators
| CWO.NEO | CRQ.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.99% | -41.75% | +9.76% |
Max Drawdown (1Y)Largest decline over 1 year | -10.90% | -6.84% | -4.06% |
Max Drawdown (3Y)Largest decline over 3 years | -17.12% | -11.70% | -5.42% |
Max Drawdown (5Y)Largest decline over 5 years | -24.80% | -15.82% | -8.98% |
Max Drawdown (10Y)Largest decline over 10 years | -31.97% | -41.75% | +9.78% |
Current DrawdownCurrent decline from peak | -1.89% | 0.00% | -1.89% |
Average DrawdownAverage peak-to-trough decline | -10.28% | -5.62% | -4.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.86% | 1.40% | +1.46% |
Volatility
CWO.NEO vs. CRQ.NEO - Volatility Comparison
iShares Emerging Markets Fundamental Index ETF (CWO.NEO) has a higher volatility of 5.38% compared to iShares Canadian Fundamental Index ETF (CRQ.NEO) at 3.13%. This indicates that CWO.NEO's price experiences larger fluctuations and is considered to be riskier than CRQ.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CWO.NEO | CRQ.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 3.13% | +2.25% |
Volatility (6M)Calculated over the trailing 6-month period | 12.46% | 8.07% | +4.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.50% | 9.81% | +5.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.64% | 12.42% | +4.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.51% | 16.27% | +1.24% |
CWO.NEO vs. CRQ.NEO - Expense Ratio Comparison
CWO.NEO has a 0.73% expense ratio, which is higher than CRQ.NEO's 0.72% expense ratio.
Dividends
CWO.NEO vs. CRQ.NEO - Dividend Comparison
CWO.NEO's dividend yield for the trailing twelve months is around 2.46%, more than CRQ.NEO's 1.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 1.87% | 2.18% | 2.72% | 2.97% | 2.90% | 2.17% | 2.98% | 2.71% | 2.46% | 1.91% | 1.89% | 3.09% |
CWO.NEO iShares Emerging Markets Fundamental Index ETF | 2.46% | 2.79% | 3.50% | 4.14% | 5.03% | 4.61% | 2.64% | 3.01% | 3.22% | 2.60% | 2.57% | 3.23% |
Frequently Asked Questions
CWO.NEO and CRQ.NEO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CRQ.NEO is cheaper at 0.72% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CRQ.NEO is cheaper with a 0.72% expense ratio, compared with 0.73% for CWO.NEO.
CWO.NEO is categorized as Emerging Markets Equities, while CRQ.NEO is Canada Equities. CWO.NEO tracks FTSE RAFI Emerging Markets Index, while CRQ.NEO tracks FTSE RAFI Canada Index. Their fees differ too: 0.73% for CWO.NEO and 0.72% for CRQ.NEO.
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