EPOL vs. EWUS

Last updated Aug 2, 2026

EPOL (iShares MSCI Poland ETF) and EWUS (iShares MSCI United Kingdom Small-Cap ETF) are both Europe Equities funds from iShares - EPOL tracks the MSCI Poland Investable Market Index while EWUS tracks the MSCI United Kingdom Small Cap Index. Both are passively managed. Over the past 10 years, EPOL returned 11.96%/yr vs 5.33%/yr for EWUS. Their 0.51 correlation means they have sometimes moved together and sometimes differently. EPOL charges 0.61%/yr vs 0.59%/yr for EWUS.

Performance

EPOL vs. EWUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Poland ETF (EPOL) and iShares MSCI United Kingdom Small-Cap ETF (EWUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPOL achieves a 22.62% return, which is significantly higher than EWUS's 6.86% return. Over the past 10 years, EPOL has outperformed EWUS with an annualized return of 11.96%, while EWUS has yielded a comparatively lower 5.33% annualized return.

EPOL

• 1D: 0.16%
• 1M: 8.60%
• 6M: 14.79%
• YTD: 22.62%
• 1Y: 40.70%
• 3Y*: 33.53%
• 5Y*: 18.62%
• 10Y*: 11.96%
• ALL TIME*: 6.44%

EWUS

• 1D: -1.04%
• 1M: 3.24%
• 6M: 1.26%
• YTD: 6.86%
• 1Y: 14.30%
• 3Y*: 13.24%
• 5Y*: 1.58%
• 10Y*: 5.33%
• ALL TIME*: 6.70%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EPOL iShares MSCI Poland ETF	$18.30M	$16.66M	$16.43M
EWUS iShares MSCI United Kingdom Small-Cap ETF	$129.53K	$175.40K	$229.81K

EPOL vs. EWUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPOL iShares MSCI Poland ETF	22.62%	77.34%	-2.61%	50.70%	-24.62%	12.21%	-8.38%	-6.13%	-13.76%	52.43%
EWUS iShares MSCI United Kingdom Small-Cap ETF	6.86%	25.13%	3.55%	15.41%	-31.19%	12.55%	-2.58%	35.16%	-20.16%	32.17%

Correlation

The correlation between EPOL and EWUS is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.61
Correlation (3Y) Balances recent behavior with more history.	0.57
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (10Y) Provides a long-term view across more market conditions.	0.56
Correlation (All Time) Calculated using the full available price history since Jan 26, 2012	0.51

The correlation between EPOL and EWUS shifts across timeframes, from 0.51 (all time) to 0.61 (5 years), reflecting how their relationship changes across market environments.

EPOL vs. EWUS - Sectors Allocation Comparison

Sectors	EPOL	EWUS
Financial Services	45.7%	22.8%
Consumer Cyclical	14.0%	16.8%
Energy	13.2%	1.7%
Basic Materials	7.1%	5.4%
Consumer Defensive	6.0%	3.9%
Communication Services	5.4%	6.3%
Utilities	4.5%	4.1%
Industrials	1.8%	22.0%
Technology	1.7%	3.5%
Healthcare	0.7%	3.0%
Real Estate	-	9.9%

Return for Risk

EPOL vs. EWUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EPOL

EPOL Risk / Return Rank: 79
EPOL Sharpe Ratio Rank: 78
EPOL Sortino Ratio Rank: 78
EPOL Omega Ratio Rank: 70
EPOL Calmar Ratio Rank: 89
EPOL Martin Ratio Rank: 78

EWUS

EWUS Risk / Return Rank: 30
EWUS Sharpe Ratio Rank: 31
EWUS Sortino Ratio Rank: 32
EWUS Omega Ratio Rank: 29
EWUS Calmar Ratio Rank: 28
EWUS Martin Ratio Rank: 31

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.

EPOL vs. EWUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Poland ETF (EPOL) and iShares MSCI United Kingdom Small-Cap ETF (EWUS). 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.

	EPOL	EWUS	Difference
Sharpe ratio: Return per unit of total volatility	1.76	0.75	+1.01
Sortino ratio: Return per unit of downside risk	2.49	1.21	+1.28
Omega ratio: Gain probability vs. loss probability	1.29	1.14	+0.15
Calmar ratio: Return relative to maximum drawdown	3.68	0.90	+2.79
Martin ratio: Return relative to average drawdown	9.96	2.83	+7.13

EPOL vs. EWUS - Sharpe Ratio Comparison

The current EPOL Sharpe Ratio is 1.76, which is higher than the EWUS Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of EPOL and EWUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EPOL vs. EWUS - Drawdown Comparison

The maximum EPOL drawdown since its inception was -63.72%, which is greater than EWUS's maximum drawdown of -49.33%. Use the drawdown chart below to compare losses from any high point for EPOL and EWUS.

Drawdown Indicators

	EPOL	EWUS	Difference
Max Drawdown Largest peak-to-trough decline	-63.72%	-49.33%	-14.39%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-15.21%	+4.17%
Max Drawdown (3Y) Largest decline over 3 years	-19.56%	-19.84%	+0.28%
Max Drawdown (5Y) Largest decline over 5 years	-54.21%	-48.14%	-6.07%
Max Drawdown (10Y) Largest decline over 10 years	-61.41%	-49.33%	-12.08%
Current Drawdown Current decline from peak	0.00%	-1.04%	+1.04%
Average Drawdown Average peak-to-trough decline	-26.64%	-12.98%	-13.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.07%	4.82%	-0.75%

Volatility

EPOL vs. EWUS - Volatility Comparison

iShares MSCI Poland ETF (EPOL) and iShares MSCI United Kingdom Small-Cap ETF (EWUS) have volatilities of 5.29% and 5.30%, 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.

Volatility by Period

	EPOL	EWUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	5.30%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	18.34%	15.41%	+2.93%
Volatility (1Y) Calculated over the trailing 1-year period	23.12%	18.20%	+4.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.12%	21.16%	+7.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.42%	21.50%	+5.92%

EPOL vs. EWUS - Expense Ratio Comparison

EPOL has a 0.61% expense ratio, which is higher than EWUS's 0.59% expense ratio.

Dividends

EPOL vs. EWUS - Dividend Comparison

EPOL's dividend yield for the trailing twelve months is around 3.44%, more than EWUS's 3.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPOL iShares MSCI Poland ETF	3.44%	4.78%	6.04%	2.87%	2.65%	1.33%	1.44%	2.51%	1.44%	1.88%	2.14%	2.53%
EWUS iShares MSCI United Kingdom Small-Cap ETF	3.08%	3.59%	3.67%	2.88%	2.03%	3.54%	1.97%	2.59%	3.53%	2.61%	3.18%	2.85%

Frequently Asked Questions

Can I hold both EPOL and EWUS in my portfolio?

EPOL and EWUS have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPOL or EWUS?

EWUS has higher volatility (5.30%) compared to EPOL (5.29%). In terms of maximum drawdown, EPOL dropped -63.72% vs EWUS's -49.33%.

Which ETF is better, EPOL or EWUS?

On 10-year performance, EPOL leads with 11.96% vs 5.33% for EWUS. On fees, EWUS is cheaper at 0.59% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPOL or EWUS?

Over the 10-year period, EPOL has performed better with a 11.96% return vs 5.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPOL or EWUS?

EWUS is cheaper with a 0.59% expense ratio, compared with 0.61% for EPOL.

Which ETF pays a higher dividend yield, EPOL or EWUS?

EPOL has the higher dividend yield at 3.44%, compared with 3.08% for EWUS.

What is the main difference between EPOL and EWUS?

EPOL tracks MSCI Poland Investable Market Index, while EWUS tracks MSCI United Kingdom Small Cap Index. Their fees differ too: 0.61% for EPOL and 0.59% for EWUS.

Which has better risk-adjusted returns?

EPOL currently has the higher Sharpe Ratio (1.76 vs 0.75), 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.