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EPHE vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EPHE vs. IWM

Last updated Aug 2, 2026
Documentation

EPHE (iShares MSCI Philippines ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - EPHE is a Asia Pacific Equities fund tracking the MSCI Philippines Investable Market Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past 10 years, EPHE returned -2.87%/yr vs 10.70%/yr for IWM. Their 0.43 correlation means their historical movements had little consistent relationship. EPHE charges 0.59%/yr vs 0.19%/yr for IWM.

Performance

EPHE vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Philippines ETF (EPHE) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EPHE achieves a 4.57% return, which is significantly lower than IWM's 18.79% return. Over the past 10 years, EPHE has underperformed IWM with an annualized return of -2.87%, while IWM has yielded a comparatively higher 10.70% 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%

IWM

1D
-0.48%
1M
-2.14%
6M
12.62%
YTD
18.79%
1Y
36.90%
3Y*
15.11%
5Y*
6.99%
10Y*
10.70%
ALL TIME*
8.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

EPHE

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

IWM

iShares Russell 2000 ETF
$6.67B$6.32B$7.45B

EPHE vs. IWM - 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%
IWM
iShares Russell 2000 ETF		18.79%12.66%11.38%16.83%-20.48%14.54%20.03%25.39%-11.12%14.58%

Correlation

The correlation between EPHE and IWM is 0.32, which is low. Their historical price movements had little consistent relationship.

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

0.32

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

0.36

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

0.38

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

0.36

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

0.43

The correlation between EPHE and IWM shifts across timeframes, from 0.32 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.

EPHE vs. IWM - Sectors Allocation Comparison

Sectors
EPHE
IWM

Industrials

33.1%
13.7%

Financial Services

19.9%
18.3%

Utilities

12.6%
2.9%

Consumer Cyclical

12.5%
9.2%

Real Estate

10.8%
7.0%

Consumer Defensive

4.7%
2.8%

Communication Services

4.5%
2.0%

Energy

1.1%
5.6%

Basic Materials

0.8%
4.5%

Healthcare

-

20.0%

Technology

-

13.6%

Industrials

EPHE
33.1%
IWM
13.7%

Financial Services

EPHE
19.9%
IWM
18.3%

Utilities

EPHE
12.6%
IWM
2.9%

Consumer Cyclical

EPHE
12.5%
IWM
9.2%

Real Estate

EPHE
10.8%
IWM
7.0%

Consumer Defensive

EPHE
4.7%
IWM
2.8%

Communication Services

EPHE
4.5%
IWM
2.0%

Energy

EPHE
1.1%
IWM
5.6%

Basic Materials

EPHE
0.8%
IWM
4.5%

Healthcare

EPHE

-

IWM
20.0%

Technology

EPHE

-

IWM
13.6%

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 Philippines ETF

iShares Russell 2000 ETF

Often compared with EPHE:
EPHE vs. VOOEPHE vs. EIDOEPHE vs. EWYEPHE vs. VTEPHE vs. VXUSEPHE vs. GOVTEPHE vs. VTI
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. VOOIWM vs. IWNIWM vs. IWO

Return for Risk

EPHE vs. IWM — 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
IWM
IWM Risk / Return Rank: 7979
Overall Rank
IWM Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 7878
Sortino Ratio Rank
IWM Omega Ratio Rank: 7272
Omega Ratio Rank
IWM Calmar Ratio Rank: 8383
Calmar Ratio Rank
IWM Martin Ratio Rank: 8383
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. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Philippines ETF (EPHE) and iShares Russell 2000 ETF (IWM). 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.

EPHEIWMDifference
Sharpe ratioReturn per unit of total volatility
0.17
1.77

-1.60

Sortino ratioReturn per unit of downside risk
0.39
2.51

-2.12

Omega ratioGain probability vs. loss probability

1.05

1.30

-0.25

Calmar ratioReturn relative to maximum drawdown

0.21

3.11

-2.90

Martin ratioReturn relative to average drawdown

0.39

11.02

-10.63

EPHE vs. IWM - Sharpe Ratio Comparison

The current EPHE Sharpe Ratio is 0.17, which is lower than the IWM Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of EPHE and IWM, 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. IWM - Drawdown Comparison

The maximum EPHE drawdown since its inception was -53.82%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for EPHE and IWM.

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Drawdown Indicators

EPHEIWMDifference

Max Drawdown

Largest peak-to-trough decline

-53.82%

-59.05%

+5.23%

Max Drawdown (1Y)

Largest decline over 1 year

-15.90%

-11.03%

-4.87%

Max Drawdown (3Y)

Largest decline over 3 years

-21.42%

-27.50%

+6.08%

Max Drawdown (5Y)

Largest decline over 5 years

-32.96%

-31.91%

-1.05%

Max Drawdown (10Y)

Largest decline over 10 years

-51.62%

-41.13%

-10.49%

Current Drawdown

Current decline from peak

-30.85%

-3.08%

-27.77%

Average Drawdown

Average peak-to-trough decline

-21.09%

-10.71%

-10.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.66%

3.11%

+5.55%

Volatility

EPHE vs. IWM - Volatility Comparison

iShares MSCI Philippines ETF (EPHE) has a higher volatility of 4.21% compared to iShares Russell 2000 ETF (IWM) at 3.82%. This indicates that EPHE's price experiences larger fluctuations and is considered to be riskier than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EPHEIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.21%

3.82%

+0.39%

Volatility (6M)

Calculated over the trailing 6-month period

15.65%

14.12%

+1.53%

Volatility (1Y)

Calculated over the trailing 1-year period

20.34%

19.41%

+0.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.37%

22.48%

-4.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.28%

23.01%

-0.73%

EPHE vs. IWM - Expense Ratio Comparison

EPHE has a 0.59% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

EPHE vs. IWM - Dividend Comparison

EPHE's dividend yield for the trailing twelve months is around 2.66%, more than IWM's 0.91% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IWM
iShares Russell 2000 ETF		0.91%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%

Frequently Asked Questions

EPHE and IWM have a correlation of 0.32, 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 IWM (3.82%). In terms of maximum drawdown, EPHE dropped -53.82% vs IWM's -59.05%.

On 10-year performance, IWM leads with 10.70% vs -2.87% for EPHE. On fees, IWM is cheaper at 0.19% per year. On volatility, IWM has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWM has performed better with a 10.70% return vs -2.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWM is cheaper with a 0.19% expense ratio, compared with 0.59% for EPHE.

EPHE has the higher dividend yield at 2.66%, compared with 0.91% for IWM.

EPHE is categorized as Asia Pacific Equities, while IWM is Small Cap Blend Equities. EPHE tracks MSCI Philippines Investable Market Index, while IWM tracks Russell 2000 Index. Their fees differ too: 0.59% for EPHE and 0.19% for IWM.

IWM currently has the higher Sharpe Ratio (1.77 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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