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EDEN vs. EWU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EDEN vs. EWU

Last updated Jul 15, 2026
Documentation

EDEN (iShares MSCI Denmark ETF) and EWU (iShares MSCI United Kingdom ETF) are both Europe Equities funds from iShares - EDEN tracks the MSCI Denmark IMI 25/50 Index while EWU tracks the MSCI United Kingdom Index. Both are passively managed. Over the past 10 years, EDEN returned 9.44%/yr vs 8.15%/yr for EWU. A 0.62 correlation means they provide meaningful diversification when combined. EDEN charges 0.53%/yr vs 0.50%/yr for EWU.

Performance

EDEN vs. EWU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Denmark ETF (EDEN) and iShares MSCI United Kingdom ETF (EWU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EDEN achieves a 2.00% return, which is significantly lower than EWU's 6.81% return. Over the past 10 years, EDEN has outperformed EWU with an annualized return of 9.44%, while EWU has yielded a comparatively lower 8.15% annualized return.

EDEN

1D
0.93%
1M
5.21%
6M
-3.43%
YTD
2.00%
1Y
3.98%
3Y*
3.93%
5Y*
2.76%
10Y*
9.44%

EWU

1D
-0.11%
1M
-0.40%
6M
4.43%
YTD
6.81%
1Y
19.61%
3Y*
16.69%
5Y*
11.54%
10Y*
8.15%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EDEN vs. EWU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EDEN
iShares MSCI Denmark ETF		2.00%10.58%-3.94%17.99%-11.47%14.81%42.56%24.37%-14.43%35.39%
EWU
iShares MSCI United Kingdom ETF		6.81%34.95%6.74%12.40%-4.39%18.19%-11.80%21.29%-14.30%21.54%

Correlation

The correlation between EDEN and EWU is 0.63, 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

0.63

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

0.62

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

0.64

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

0.63

Correlation (All Time)
Calculated using the full available price history since Jan 26, 2012

0.62

The correlation between EDEN and EWU has been stable across timeframes, ranging from 0.62 to 0.64 - a consistent structural relationship.

EDEN vs. EWU - Sectors Allocation Comparison

Sectors
EDEN
EWU

Healthcare

37.9%
14.5%

Industrials

28.5%
13.2%

Financial Services

15.0%
25.7%

Basic Materials

4.7%
9.5%

Consumer Defensive

4.6%
13.1%

Utilities

3.1%
5.1%

Consumer Cyclical

2.7%
3.8%

Technology

0.9%
0.7%

Energy

0.8%
11.6%

Communication Services

-

2.3%

Real Estate

-

0.6%

Healthcare

EDEN
37.9%
EWU
14.5%

Industrials

EDEN
28.5%
EWU
13.2%

Financial Services

EDEN
15.0%
EWU
25.7%

Basic Materials

EDEN
4.7%
EWU
9.5%

Consumer Defensive

EDEN
4.6%
EWU
13.1%

Utilities

EDEN
3.1%
EWU
5.1%

Consumer Cyclical

EDEN
2.7%
EWU
3.8%

Technology

EDEN
0.9%
EWU
0.7%

Energy

EDEN
0.8%
EWU
11.6%

Communication Services

EDEN

-

EWU
2.3%

Real Estate

EDEN

-

EWU
0.6%

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 Denmark ETF

iShares MSCI United Kingdom ETF

Often compared with EDEN:
EDEN vs. EWNEDEN vs. ARGTEDEN vs. FNORXEDEN vs. EWIEDEN vs. ENOREDEN vs. ENZLEDEN vs. EWQ
Often compared with EWU:
EWU vs. FLGBEWU vs. EWUSEWU vs. SPYEWU vs. FEZEWU vs. FKUEWU vs. BNDWEWU vs. VOO

Return for Risk

EDEN vs. EWU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EDEN
EDEN Risk / Return Rank: 1212
Overall Rank
EDEN Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
EDEN Sortino Ratio Rank: 1212
Sortino Ratio Rank
EDEN Omega Ratio Rank: 1212
Omega Ratio Rank
EDEN Calmar Ratio Rank: 1212
Calmar Ratio Rank
EDEN Martin Ratio Rank: 1212
Martin Ratio Rank
EWU
EWU Risk / Return Rank: 4747
Overall Rank
EWU Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
EWU Sortino Ratio Rank: 4848
Sortino Ratio Rank
EWU Omega Ratio Rank: 4545
Omega Ratio Rank
EWU Calmar Ratio Rank: 4949
Calmar Ratio Rank
EWU Martin Ratio Rank: 4949
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.

EDEN vs. EWU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Denmark ETF (EDEN) and iShares MSCI United Kingdom ETF (EWU). 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.

EDENEWUDifference
Sharpe ratioReturn per unit of total volatility
0.19
1.32

-1.13

Sortino ratioReturn per unit of downside risk
0.41
1.95

-1.53

Omega ratioGain probability vs. loss probability

1.05

1.24

-0.18

Calmar ratioReturn relative to maximum drawdown

0.19

1.99

-1.80

Martin ratioReturn relative to average drawdown

0.40

6.54

-6.14

EDEN vs. EWU - Sharpe Ratio Comparison

The current EDEN Sharpe Ratio is 0.19, which is lower than the EWU Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of EDEN and EWU, 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

EDEN vs. EWU - Drawdown Comparison

The maximum EDEN drawdown since its inception was -36.61%, smaller than the maximum EWU drawdown of -63.99%. Use the drawdown chart below to compare losses from any high point for EDEN and EWU.

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Drawdown Indicators

EDENEWUDifference

Max Drawdown

Largest peak-to-trough decline

-36.61%

-63.99%

+27.38%

Max Drawdown (1Y)

Largest decline over 1 year

-21.17%

-9.92%

-11.25%

Max Drawdown (3Y)

Largest decline over 3 years

-29.31%

-12.63%

-16.68%

Max Drawdown (5Y)

Largest decline over 5 years

-36.61%

-24.91%

-11.70%

Max Drawdown (10Y)

Largest decline over 10 years

-36.61%

-43.33%

+6.72%

Current Drawdown

Current decline from peak

-9.05%

-3.51%

-5.54%

Average Drawdown

Average peak-to-trough decline

-7.40%

-14.13%

+6.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.03%

3.01%

+7.02%

Volatility

EDEN vs. EWU - Volatility Comparison

iShares MSCI Denmark ETF (EDEN) has a higher volatility of 4.34% compared to iShares MSCI United Kingdom ETF (EWU) at 4.00%. This indicates that EDEN's price experiences larger fluctuations and is considered to be riskier than EWU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EDENEWUDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.34%

4.00%

+0.34%

Volatility (6M)

Calculated over the trailing 6-month period

15.72%

12.79%

+2.93%

Volatility (1Y)

Calculated over the trailing 1-year period

20.71%

14.87%

+5.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.31%

16.44%

+3.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.16%

18.22%

+0.94%

EDEN vs. EWU - Expense Ratio Comparison

EDEN has a 0.53% expense ratio, which is higher than EWU's 0.50% expense ratio.

Dividends

EDEN vs. EWU - Dividend Comparison

EDEN's dividend yield for the trailing twelve months is around 3.00%, less than EWU's 3.23% yield.

PositionTTM20252024202320222021202020192018201720162015
EDEN
iShares MSCI Denmark ETF		3.00%2.79%1.50%1.92%1.47%0.74%0.42%2.36%2.01%2.03%1.28%1.46%
EWU
iShares MSCI United Kingdom ETF		3.23%3.73%4.16%4.14%3.43%4.35%2.48%4.13%4.98%3.91%3.97%4.11%

Frequently Asked Questions

EDEN and EWU have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EDEN has higher volatility (4.34%) compared to EWU (4.00%). In terms of maximum drawdown, EDEN dropped -36.61% vs EWU's -63.99%.

On 10-year performance, EDEN leads with 9.44% vs 8.15% for EWU. On fees, EWU is cheaper at 0.50% per year. On volatility, EWU has been the lower-risk option at 4.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EDEN has performed better with a 9.44% return vs 8.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWU is cheaper with a 0.50% expense ratio, compared with 0.53% for EDEN.

EWU has the higher dividend yield at 3.23%, compared with 3.00% for EDEN.

EDEN tracks MSCI Denmark IMI 25/50 Index, while EWU tracks MSCI United Kingdom Index. Their fees differ too: 0.53% for EDEN and 0.50% for EWU.

EWU currently has the higher Sharpe Ratio (1.32 vs 0.19), 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.

Portfolio Optimizer

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