ERIC vs. EWP
ERIC (Telefonaktiebolaget LM Ericsson (publ)) is a stock, while EWP (iShares MSCI Spain ETF) is Europe Equities fund tracking the MSCI Spain Index. Over the past 10 years, ERIC returned 8.16%/yr vs 12.33%/yr for EWP. At a 0.47 correlation, their price movements are largely independent.
Performance
ERIC vs. EWP - Performance Comparison
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Returns By Period
In the year-to-date period, ERIC achieves a 29.07% return, which is significantly higher than EWP's 8.89% return. Over the past 10 years, ERIC has underperformed EWP with an annualized return of 8.16%, while EWP has yielded a comparatively higher 12.33% annualized return.
ERIC
- 1D
- 1.15%
- 1M
- -1.76%
- YTD
- 29.07%
- 6M
- 30.15%
- 1Y
- 51.44%
- 3Y*
- 37.54%
- 5Y*
- 2.33%
- 10Y*
- 8.16%
EWP
- 1D
- 0.63%
- 1M
- 5.52%
- YTD
- 8.89%
- 6M
- 11.54%
- 1Y
- 39.17%
- 3Y*
- 32.21%
- 5Y*
- 17.57%
- 10Y*
- 12.33%
ERIC vs. EWP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERIC Telefonaktiebolaget LM Ericsson (publ) | 29.07% | 24.14% | 33.36% | 13.40% | -44.43% | -7.26% | 38.51% | 0.17% | 35.45% | 16.57% |
EWP iShares MSCI Spain ETF | 8.89% | 78.03% | 5.70% | 30.26% | -5.18% | 0.25% | -3.94% | 11.93% | -15.32% | 26.98% |
Correlation
The correlation between ERIC and EWP is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 1996 | 0.47 |
The correlation between ERIC and EWP has been stable across timeframes, ranging from 0.45 to 0.52 - a consistent structural relationship.
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Return for Risk
ERIC vs. EWP — Risk / Return Rank
ERIC
EWP
ERIC vs. EWP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Telefonaktiebolaget LM Ericsson (publ) (ERIC) and iShares MSCI Spain ETF (EWP). 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.
| ERIC | EWP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.34 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.14 | 3.26 | -0.12 |
| Martin ratioReturn relative to average drawdown | 7.76 | 11.51 | -3.75 |
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Drawdowns
ERIC vs. EWP - Drawdown Comparison
The maximum ERIC drawdown since its inception was -98.59%, which is greater than EWP's maximum drawdown of -61.19%. Use the drawdown chart below to compare losses from any high point for ERIC and EWP.
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Drawdown Indicators
| ERIC | EWP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.59% | -61.19% | -37.40% |
Max Drawdown (1Y)Largest decline over 1 year | -15.79% | -11.38% | -4.41% |
Max Drawdown (3Y)Largest decline over 3 years | -22.61% | -12.19% | -10.42% |
Max Drawdown (5Y)Largest decline over 5 years | -63.96% | -32.96% | -31.00% |
Max Drawdown (10Y)Largest decline over 10 years | -66.59% | -46.36% | -20.23% |
Current DrawdownCurrent decline from peak | -82.52% | 0.00% | -82.52% |
Average DrawdownAverage peak-to-trough decline | -67.77% | -21.41% | -46.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.38% | 3.22% | +3.16% |
Volatility
ERIC vs. EWP - Volatility Comparison
Telefonaktiebolaget LM Ericsson (publ) (ERIC) has a higher volatility of 14.05% compared to iShares MSCI Spain ETF (EWP) at 6.21%. This indicates that ERIC's price experiences larger fluctuations and is considered to be riskier than EWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERIC | EWP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.05% | 6.21% | +7.84% |
Volatility (6M)Calculated over the trailing 6-month period | 24.72% | 16.09% | +8.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.24% | 19.13% | +17.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.63% | 20.31% | +14.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.26% | 22.22% | +13.04% |
Dividends
ERIC vs. EWP - Dividend Comparison
ERIC's dividend yield for the trailing twelve months is around 2.55%, more than EWP's 2.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERIC Telefonaktiebolaget LM Ericsson (publ) | 2.55% | 3.04% | 3.22% | 4.07% | 4.22% | 2.15% | 1.36% | 1.24% | 1.42% | 1.67% | 5.14% | 5.30% |
EWP iShares MSCI Spain ETF | 2.09% | 2.27% | 4.35% | 2.70% | 3.07% | 3.29% | 2.56% | 3.72% | 3.69% | 2.72% | 4.65% | 3.85% |
Frequently Asked Questions
ERIC and EWP have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERIC has higher volatility (14.05%) compared to EWP (6.21%). In terms of maximum drawdown, ERIC dropped -98.59% vs EWP's -61.19%.
EWP currently has the higher Sharpe Ratio (1.94 vs 1.37), 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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