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EIDO vs. EWI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EIDO vs. EWI

Last updated Jul 21, 2026
Documentation

EIDO (iShares MSCI Indonesia ETF) and EWI (iShares MSCI Italy ETF) are both exchange-traded funds - EIDO is a Indonesia Equities fund tracking the MSCI Indonesia Investable Market Index, while EWI is a Europe Equities fund tracking the MSCI Italy Index. Both are passively managed. Over the past 10 years, EIDO returned -4.54%/yr vs 14.29%/yr for EWI. At a 0.46 correlation, their price movements are largely independent. EIDO charges 0.59%/yr vs 0.49%/yr for EWI.

Performance

EIDO vs. EWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Indonesia ETF (EIDO) and iShares MSCI Italy ETF (EWI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EIDO achieves a -31.73% return, which is significantly lower than EWI's 12.50% return. Over the past 10 years, EIDO has underperformed EWI with an annualized return of -4.54%, while EWI has yielded a comparatively higher 14.29% annualized return.

EIDO

1D
0.89%
1M
0.80%
6M
-33.30%
YTD
-31.73%
1Y
-27.14%
3Y*
-15.86%
5Y*
-6.17%
10Y*
-4.54%
ALL TIME*
-1.51%

EWI

1D
-0.53%
1M
-1.09%
6M
11.29%
YTD
12.50%
1Y
29.57%
3Y*
26.26%
5Y*
17.88%
10Y*
14.29%
ALL TIME*
6.51%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EIDO vs. EWI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EIDO
iShares MSCI Indonesia ETF		-31.73%4.90%-13.02%2.56%-0.16%-0.60%-7.13%5.30%-10.88%19.40%
EWI
iShares MSCI Italy ETF		12.50%55.72%10.23%30.63%-14.16%14.38%1.69%26.98%-17.18%28.70%

Correlation

The correlation between EIDO and EWI is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.30

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

0.34

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

0.40

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

0.43

Correlation (All Time)
Calculated using the full available price history since May 7, 2010

0.46

The correlation between EIDO and EWI shifts across timeframes, from 0.30 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

EIDO vs. EWI - Sectors Allocation Comparison

Sectors
EIDO
EWI

Financial Services

44.5%
50.1%

Basic Materials

11.9%
1.0%

Communication Services

9.6%
2.7%

Energy

8.5%
6.6%

Consumer Defensive

7.7%
0.9%

Consumer Cyclical

5.8%
9.0%

Technology

4.0%

-

Utilities

1.9%
18.0%

Healthcare

1.5%
1.3%

Real Estate

1.4%

-

Industrials

1.1%
10.4%

Financial Services

EIDO
44.5%
EWI
50.1%

Basic Materials

EIDO
11.9%
EWI
1.0%

Communication Services

EIDO
9.6%
EWI
2.7%

Energy

EIDO
8.5%
EWI
6.6%

Consumer Defensive

EIDO
7.7%
EWI
0.9%

Consumer Cyclical

EIDO
5.8%
EWI
9.0%

Technology

EIDO
4.0%
EWI

-

Utilities

EIDO
1.9%
EWI
18.0%

Healthcare

EIDO
1.5%
EWI
1.3%

Real Estate

EIDO
1.4%
EWI

-

Industrials

EIDO
1.1%
EWI
10.4%

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 Indonesia ETF

iShares MSCI Italy ETF

Often compared with EIDO:
EIDO vs. IDXEIDO vs. EWYEIDO vs. INDAEIDO vs. ASEAEIDO vs. EWMEIDO vs. EWSEIDO vs. EWW
Often compared with EWI:
EWI vs. SPYEWI vs. EWPEWI vs. EWQEWI vs. VOOEWI vs. FEZEWI vs. QQQEEWI vs. EIRL

Return for Risk

EIDO vs. EWI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EIDO
EIDO Risk / Return Rank: 22
Overall Rank
EIDO Sharpe Ratio Rank: 11
Sharpe Ratio Rank
EIDO Sortino Ratio Rank: 22
Sortino Ratio Rank
EIDO Omega Ratio Rank: 11
Omega Ratio Rank
EIDO Calmar Ratio Rank: 44
Calmar Ratio Rank
EIDO Martin Ratio Rank: 00
Martin Ratio Rank
EWI
EWI Risk / Return Rank: 6565
Overall Rank
EWI Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
EWI Sortino Ratio Rank: 6666
Sortino Ratio Rank
EWI Omega Ratio Rank: 6262
Omega Ratio Rank
EWI Calmar Ratio Rank: 6464
Calmar Ratio Rank
EWI Martin Ratio Rank: 6868
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.

EIDO vs. EWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Indonesia ETF (EIDO) and iShares MSCI Italy ETF (EWI). 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.

EIDOEWIDifference
Sharpe ratioReturn per unit of total volatility
-1.04
1.62

-2.66

Sortino ratioReturn per unit of downside risk
-1.42
2.28

-3.71

Omega ratioGain probability vs. loss probability

0.82

1.28

-0.46

Calmar ratioReturn relative to maximum drawdown

-0.62

2.38

-3.00

Martin ratioReturn relative to average drawdown

-1.55

8.86

-10.41

EIDO vs. EWI - Sharpe Ratio Comparison

The current EIDO Sharpe Ratio is -1.04, which is lower than the EWI Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of EIDO and EWI, 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

EIDO vs. EWI - Drawdown Comparison

The maximum EIDO drawdown since its inception was -63.21%, smaller than the maximum EWI drawdown of -70.38%. Use the drawdown chart below to compare losses from any high point for EIDO and EWI.

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Drawdown Indicators

EIDOEWIDifference

Max Drawdown

Largest peak-to-trough decline

-63.21%

-70.38%

+7.17%

Max Drawdown (1Y)

Largest decline over 1 year

-43.81%

-12.48%

-31.33%

Max Drawdown (3Y)

Largest decline over 3 years

-51.77%

-16.80%

-34.97%

Max Drawdown (5Y)

Largest decline over 5 years

-51.77%

-35.25%

-16.52%

Max Drawdown (10Y)

Largest decline over 10 years

-59.41%

-43.00%

-16.41%

Current Drawdown

Current decline from peak

-53.40%

-1.96%

-51.44%

Average Drawdown

Average peak-to-trough decline

-24.86%

-28.83%

+3.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

17.57%

3.35%

+14.22%

Volatility

EIDO vs. EWI - Volatility Comparison

iShares MSCI Indonesia ETF (EIDO) has a higher volatility of 8.19% compared to iShares MSCI Italy ETF (EWI) at 3.97%. This indicates that EIDO's price experiences larger fluctuations and is considered to be riskier than EWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EIDOEWIDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.19%

3.97%

+4.22%

Volatility (6M)

Calculated over the trailing 6-month period

23.42%

15.51%

+7.91%

Volatility (1Y)

Calculated over the trailing 1-year period

26.16%

18.38%

+7.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.67%

21.09%

-0.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.99%

22.50%

+2.49%

EIDO vs. EWI - Expense Ratio Comparison

EIDO has a 0.59% expense ratio, which is higher than EWI's 0.49% expense ratio.

Dividends

EIDO vs. EWI - Dividend Comparison

EIDO's dividend yield for the trailing twelve months is around 3.26%, more than EWI's 3.13% yield.

PositionTTM20252024202320222021202020192018201720162015
EIDO
iShares MSCI Indonesia ETF		3.26%3.56%5.20%2.94%2.53%1.33%1.51%1.78%1.99%1.26%1.16%1.67%
EWI
iShares MSCI Italy ETF		3.13%2.80%4.07%3.40%4.57%2.63%1.66%3.80%4.71%2.19%3.64%2.31%

Frequently Asked Questions

EIDO and EWI have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EIDO has higher volatility (8.19%) compared to EWI (3.97%). In terms of maximum drawdown, EIDO dropped -63.21% vs EWI's -70.38%.

On 10-year performance, EWI leads with 14.29% vs -4.54% for EIDO. On fees, EWI is cheaper at 0.49% per year. On volatility, EWI has been the lower-risk option at 3.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWI has performed better with a 14.29% return vs -4.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWI is cheaper with a 0.49% expense ratio, compared with 0.59% for EIDO.

EIDO has the higher dividend yield at 3.26%, compared with 3.13% for EWI.

EIDO is categorized as Indonesia Equities, while EWI is Europe Equities. EIDO tracks MSCI Indonesia Investable Market Index, while EWI tracks MSCI Italy Index. Their fees differ too: 0.59% for EIDO and 0.49% for EWI.

EWI currently has the higher Sharpe Ratio (1.62 vs -1.04), 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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