EPP vs. EWH
EPP (iShares MSCI Pacific ex Japan ETF) and EWH (iShares MSCI Hong Kong ETF) are both Asia Pacific Equities funds from iShares - EPP tracks the MSCI Pacific ex-Japan Index while EWH tracks the MSCI Hong Kong Index. Both are passively managed. Over the past 10 years, EPP returned 7.77%/yr vs 4.79%/yr for EWH. A 0.73 correlation means they provide meaningful diversification when combined. EPP charges 0.48%/yr vs 0.49%/yr for EWH.
Performance
EPP vs. EWH - Performance Comparison
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Returns By Period
In the year-to-date period, EPP achieves a 8.29% return, which is significantly higher than EWH's 2.00% return. Over the past 10 years, EPP has outperformed EWH with an annualized return of 7.77%, while EWH has yielded a comparatively lower 4.79% annualized return.
EPP
- 1D
- -0.19%
- 1M
- -0.60%
- YTD
- 8.29%
- 6M
- 8.03%
- 1Y
- 16.65%
- 3Y*
- 13.17%
- 5Y*
- 5.00%
- 10Y*
- 7.77%
EWH
- 1D
- 0.23%
- 1M
- -7.73%
- YTD
- 2.00%
- 6M
- 0.16%
- 1Y
- 17.74%
- 3Y*
- 8.52%
- 5Y*
- -0.71%
- 10Y*
- 4.79%
EPP vs. EWH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPP iShares MSCI Pacific ex Japan ETF | 8.29% | 19.70% | 4.76% | 5.76% | -6.59% | 4.26% | 6.04% | 18.30% | -10.78% | 26.05% |
EWH iShares MSCI Hong Kong ETF | 2.00% | 34.50% | 0.00% | -13.87% | -6.81% | -3.49% | 4.17% | 10.74% | -8.76% | 36.46% |
Correlation
The correlation between EPP and EWH is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2001 | 0.73 |
The correlation between EPP and EWH has been stable across timeframes, ranging from 0.67 to 0.74 - a consistent structural relationship.
EPP vs. EWH - Sectors Allocation Comparison
Sectors
EPP
EWH
Financial Services
Basic Materials
-
Industrials
Real Estate
Consumer Cyclical
Utilities
Healthcare
-
Consumer Defensive
Energy
-
Communication Services
Technology
-
Financial Services
EPP
EWH
Basic Materials
EPP
EWH
-
Industrials
EPP
EWH
Real Estate
EPP
EWH
Consumer Cyclical
EPP
EWH
Utilities
EPP
EWH
Healthcare
EPP
EWH
-
Consumer Defensive
EPP
EWH
Energy
EPP
EWH
-
Communication Services
EPP
EWH
Technology
EPP
EWH
-
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Return for Risk
EPP vs. EWH — Risk / Return Rank
EPP
EWH
EPP vs. EWH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Pacific ex Japan ETF (EPP) and iShares MSCI Hong Kong ETF (EWH). 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.
| EPP | EWH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.19 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 1.38 | +0.52 |
| Martin ratioReturn relative to average drawdown | 5.62 | 4.55 | +1.07 |
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Drawdowns
EPP vs. EWH - Drawdown Comparison
The maximum EPP drawdown since its inception was -66.01%, roughly equal to the maximum EWH drawdown of -66.44%. Use the drawdown chart below to compare losses from any high point for EPP and EWH.
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Drawdown Indicators
| EPP | EWH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.01% | -66.44% | +0.43% |
Max Drawdown (1Y)Largest decline over 1 year | -8.79% | -12.91% | +4.12% |
Max Drawdown (3Y)Largest decline over 3 years | -19.29% | -24.93% | +5.64% |
Max Drawdown (5Y)Largest decline over 5 years | -24.79% | -41.28% | +16.49% |
Max Drawdown (10Y)Largest decline over 10 years | -39.30% | -42.71% | +3.41% |
Current DrawdownCurrent decline from peak | -3.93% | -11.71% | +7.78% |
Average DrawdownAverage peak-to-trough decline | -10.61% | -19.47% | +8.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 3.91% | -0.94% |
Volatility
EPP vs. EWH - Volatility Comparison
iShares MSCI Pacific ex Japan ETF (EPP) and iShares MSCI Hong Kong ETF (EWH) have volatilities of 5.22% 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.
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Volatility by Period
| EPP | EWH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.22% | 5.30% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 12.75% | 12.57% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.14% | 16.78% | -1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.51% | 20.11% | -2.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.12% | 19.59% | -0.47% |
EPP vs. EWH - Expense Ratio Comparison
EPP has a 0.48% expense ratio, which is lower than EWH's 0.49% expense ratio.
Dividends
EPP vs. EWH - Dividend Comparison
EPP's dividend yield for the trailing twelve months is around 3.47%, less than EWH's 4.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPP iShares MSCI Pacific ex Japan ETF | 3.47% | 3.77% | 3.81% | 4.10% | 4.37% | 4.58% | 2.28% | 3.89% | 5.00% | 4.15% | 3.96% | 4.90% |
EWH iShares MSCI Hong Kong ETF | 4.86% | 5.20% | 4.17% | 4.28% | 2.91% | 2.78% | 2.56% | 2.71% | 2.93% | 4.35% | 3.08% | 2.63% |
Frequently Asked Questions
EPP and EWH have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWH has higher volatility (5.30%) compared to EPP (5.22%). In terms of maximum drawdown, EPP dropped -66.01% vs EWH's -66.44%.
On 10-year performance, EPP leads with 7.77% vs 4.79% for EWH. On fees, EPP is cheaper at 0.48% 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, EPP has performed better with a 7.77% return vs 4.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EPP is cheaper with a 0.48% expense ratio, compared with 0.49% for EWH.
EWH has the higher dividend yield at 4.86%, compared with 3.47% for EPP.
EPP tracks MSCI Pacific ex-Japan Index, while EWH tracks MSCI Hong Kong Index. Their fees differ too: 0.48% for EPP and 0.49% for EWH.
EPP currently has the higher Sharpe Ratio (1.11 vs 1.06), 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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