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EPHE vs. ENZL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EPHE vs. ENZL

Last updated Aug 2, 2026
Documentation

EPHE (iShares MSCI Philippines ETF) and ENZL (iShares MSCI New Zealand ETF) are both Asia Pacific Equities funds from iShares - EPHE tracks the MSCI Philippines Investable Market Index while ENZL tracks the MSCI New Zealand Investable Market Index. Both are passively managed. Over the past 10 years, EPHE returned -2.87%/yr vs 2.99%/yr for ENZL. Their 0.38 correlation means their historical movements had little consistent relationship. EPHE charges 0.59%/yr vs 0.50%/yr for ENZL.

Performance

EPHE vs. ENZL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Philippines ETF (EPHE) and iShares MSCI New Zealand ETF (ENZL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with EPHE having a 4.57% return and ENZL slightly lower at 4.40%. Over the past 10 years, EPHE has underperformed ENZL with an annualized return of -2.87%, while ENZL has yielded a comparatively higher 2.99% annualized return.

EPHE

1D
-0.51%
1M
4.41%
6M
0.35%
YTD
4.57%
1Y
1.90%
3Y*
0.76%
5Y*
0.25%
10Y*
-2.87%
ALL TIME*
1.41%

ENZL

1D
-0.93%
1M
4.18%
6M
0.69%
YTD
4.40%
1Y
7.11%
3Y*
0.97%
5Y*
-2.78%
10Y*
2.99%
ALL TIME*
7.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

ENZL

iShares MSCI New Zealand ETF
$6.05M$5.22M$3.06M

EPHE

iShares MSCI Philippines ETF
$3.93M$3.16M$3.33M

EPHE vs. ENZL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EPHE
iShares MSCI Philippines ETF		4.57%1.56%-1.41%1.27%-15.87%-2.23%-3.95%8.50%-17.50%20.20%
ENZL
iShares MSCI New Zealand ETF		4.40%2.47%-4.86%2.95%-16.18%-11.39%20.04%30.09%0.35%24.04%

Correlation

The correlation between EPHE and ENZL is 0.27, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.27

Correlation (3Y)
Balances recent behavior with more history.

0.28

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.33

Correlation (10Y)
Provides a long-term view across more market conditions.

0.33

Correlation (All Time)
Calculated using the full available price history since Sep 29, 2010

0.38

The correlation between EPHE and ENZL shifts across timeframes, from 0.27 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

EPHE vs. ENZL - Sectors Allocation Comparison

Sectors
EPHE
ENZL

Industrials

33.1%
30.9%

Financial Services

19.9%
1.5%

Utilities

12.6%
12.6%

Consumer Cyclical

12.5%
1.2%

Real Estate

10.8%
12.9%

Consumer Defensive

4.7%
1.4%

Communication Services

4.5%
3.0%

Energy

1.1%
1.9%

Basic Materials

0.8%
4.4%

Healthcare

-

30.0%

Technology

-

0.5%

Industrials

EPHE
33.1%
ENZL
30.9%

Financial Services

EPHE
19.9%
ENZL
1.5%

Utilities

EPHE
12.6%
ENZL
12.6%

Consumer Cyclical

EPHE
12.5%
ENZL
1.2%

Real Estate

EPHE
10.8%
ENZL
12.9%

Consumer Defensive

EPHE
4.7%
ENZL
1.4%

Communication Services

EPHE
4.5%
ENZL
3.0%

Energy

EPHE
1.1%
ENZL
1.9%

Basic Materials

EPHE
0.8%
ENZL
4.4%

Healthcare

EPHE

-

ENZL
30.0%

Technology

EPHE

-

ENZL
0.5%

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 Philippines ETF

iShares MSCI New Zealand ETF

Often compared with EPHE:
EPHE vs. VOOEPHE vs. EIDOEPHE vs. EWYEPHE vs. VTEPHE vs. VXUSEPHE vs. GOVTEPHE vs. VTI
Often compared with ENZL:
ENZL vs. EIRLENZL vs. EDENENZL vs. MNROENZL vs. IBC6.DEENZL vs. VTIENZL vs. EWAENZL vs. EWQ

Return for Risk

EPHE vs. ENZL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EPHE
EPHE Risk / Return Rank: 1414
Overall Rank
EPHE Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
EPHE Sortino Ratio Rank: 1414
Sortino Ratio Rank
EPHE Omega Ratio Rank: 1414
Omega Ratio Rank
EPHE Calmar Ratio Rank: 1414
Calmar Ratio Rank
EPHE Martin Ratio Rank: 1414
Martin Ratio Rank
ENZL
ENZL Risk / Return Rank: 2020
Overall Rank
ENZL Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
ENZL Sortino Ratio Rank: 1919
Sortino Ratio Rank
ENZL Omega Ratio Rank: 1919
Omega Ratio Rank
ENZL Calmar Ratio Rank: 1919
Calmar Ratio Rank
ENZL Martin Ratio Rank: 2020
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EPHE vs. ENZL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Philippines ETF (EPHE) and iShares MSCI New Zealand ETF (ENZL). 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.

EPHEENZLDifference
Sharpe ratioReturn per unit of total volatility
0.17
0.40

-0.23

Sortino ratioReturn per unit of downside risk
0.39
0.66

-0.27

Omega ratioGain probability vs. loss probability

1.05

1.08

-0.04

Calmar ratioReturn relative to maximum drawdown

0.21

0.49

-0.28

Martin ratioReturn relative to average drawdown

0.39

1.30

-0.91

EPHE vs. ENZL - Sharpe Ratio Comparison

The current EPHE Sharpe Ratio is 0.17, which is lower than the ENZL Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of EPHE and ENZL, 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

EPHE vs. ENZL - Drawdown Comparison

The maximum EPHE drawdown since its inception was -53.82%, which is greater than ENZL's maximum drawdown of -42.44%. Use the drawdown chart below to compare losses from any high point for EPHE and ENZL.

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Drawdown Indicators

EPHEENZLDifference

Max Drawdown

Largest peak-to-trough decline

-53.82%

-42.44%

-11.38%

Max Drawdown (1Y)

Largest decline over 1 year

-15.90%

-12.90%

-3.00%

Max Drawdown (3Y)

Largest decline over 3 years

-21.42%

-20.67%

-0.75%

Max Drawdown (5Y)

Largest decline over 5 years

-32.96%

-36.86%

+3.90%

Max Drawdown (10Y)

Largest decline over 10 years

-51.62%

-42.44%

-9.18%

Current Drawdown

Current decline from peak

-30.85%

-26.11%

-4.74%

Average Drawdown

Average peak-to-trough decline

-21.09%

-12.93%

-8.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.66%

4.83%

+3.83%

Volatility

EPHE vs. ENZL - Volatility Comparison

iShares MSCI Philippines ETF (EPHE) and iShares MSCI New Zealand ETF (ENZL) have volatilities of 4.21% and 4.20%, 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

EPHEENZLDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.21%

4.20%

+0.01%

Volatility (6M)

Calculated over the trailing 6-month period

15.65%

13.72%

+1.93%

Volatility (1Y)

Calculated over the trailing 1-year period

20.34%

15.89%

+4.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.37%

18.58%

-0.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.28%

20.37%

+1.91%

EPHE vs. ENZL - Expense Ratio Comparison

EPHE has a 0.59% expense ratio, which is higher than ENZL's 0.50% expense ratio.

Dividends

EPHE vs. ENZL - Dividend Comparison

EPHE's dividend yield for the trailing twelve months is around 2.66%, more than ENZL's 2.16% yield.

PositionTTM20252024202320222021202020192018201720162015
ENZL
iShares MSCI New Zealand ETF		2.16%2.23%2.13%3.00%1.62%2.46%1.66%3.35%3.60%3.69%4.79%4.29%
EPHE
iShares MSCI Philippines ETF		2.66%2.11%2.32%2.01%1.73%1.05%0.72%0.78%0.45%0.36%0.71%1.03%

Frequently Asked Questions

EPHE and ENZL have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EPHE has higher volatility (4.21%) compared to ENZL (4.20%). In terms of maximum drawdown, EPHE dropped -53.82% vs ENZL's -42.44%.

On 10-year performance, ENZL leads with 2.99% vs -2.87% for EPHE. On fees, ENZL is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ENZL has performed better with a 2.99% return vs -2.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ENZL is cheaper with a 0.50% expense ratio, compared with 0.59% for EPHE.

EPHE has the higher dividend yield at 2.66%, compared with 2.16% for ENZL.

EPHE tracks MSCI Philippines Investable Market Index, while ENZL tracks MSCI New Zealand Investable Market Index. Their fees differ too: 0.59% for EPHE and 0.50% for ENZL.

ENZL currently has the higher Sharpe Ratio (0.40 vs 0.17), 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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