ESLT vs. EWP
ESLT (Elbit Systems Ltd) is a stock, while EWP (iShares MSCI Spain ETF) is Europe Equities fund tracking the MSCI Spain Index. Over the past 10 years, ESLT returned 25.86%/yr vs 11.09%/yr for EWP. At a 0.28 correlation, their price movements are largely independent.
Performance
ESLT vs. EWP - Performance Comparison
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Returns By Period
In the year-to-date period, ESLT achieves a 45.20% return, which is significantly higher than EWP's 6.66% return. Over the past 10 years, ESLT has outperformed EWP with an annualized return of 25.86%, while EWP has yielded a comparatively lower 11.09% annualized return.
ESLT
- 1D
- 0.98%
- 1M
- -1.56%
- YTD
- 45.20%
- 6M
- 74.96%
- 1Y
- 96.01%
- 3Y*
- 63.50%
- 5Y*
- 46.33%
- 10Y*
- 25.86%
EWP
- 1D
- 1.11%
- 1M
- 2.28%
- YTD
- 6.66%
- 6M
- 11.07%
- 1Y
- 36.42%
- 3Y*
- 31.66%
- 5Y*
- 17.28%
- 10Y*
- 11.09%
ESLT vs. EWP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ESLT Elbit Systems Ltd | 45.20% | 125.14% | 22.17% | 31.30% | -4.82% | 34.77% | -14.56% | 37.62% | -13.22% | 32.65% |
EWP iShares MSCI Spain ETF | 6.66% | 78.03% | 5.70% | 30.26% | -5.18% | 0.25% | -3.94% | 11.93% | -15.32% | 26.98% |
Correlation
The correlation between ESLT and EWP is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 1996 | 0.28 |
The correlation between ESLT and EWP shifts across timeframes, from 0.11 (1 year) to 0.28 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
ESLT vs. EWP — Risk / Return Rank
ESLT
EWP
ESLT vs. EWP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Elbit Systems Ltd (ESLT) 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.
| ESLT | EWP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.34 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.72 | 3.21 | +0.50 |
| Martin ratioReturn relative to average drawdown | 10.71 | 11.44 | -0.73 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ESLT | EWP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.29 | 1.95 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.41 | 0.86 | +0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 0.50 | +0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.31 | +0.30 |
Drawdowns
ESLT vs. EWP - Drawdown Comparison
The maximum ESLT drawdown since its inception was -53.79%, smaller than the maximum EWP drawdown of -61.19%. Use the drawdown chart below to compare losses from any high point for ESLT and EWP.
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Drawdown Indicators
| ESLT | EWP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.79% | -61.19% | +7.40% |
Max Drawdown (1Y)Largest decline over 1 year | -25.98% | -11.38% | -14.60% |
Max Drawdown (3Y)Largest decline over 3 years | -25.98% | -12.19% | -13.79% |
Max Drawdown (5Y)Largest decline over 5 years | -32.89% | -33.91% | +1.02% |
Max Drawdown (10Y)Largest decline over 10 years | -32.89% | -46.36% | +13.47% |
Current DrawdownCurrent decline from peak | -17.30% | -1.52% | -15.78% |
Average DrawdownAverage peak-to-trough decline | -13.91% | -21.43% | +7.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.00% | 3.19% | +5.81% |
Volatility
ESLT vs. EWP - Volatility Comparison
Elbit Systems Ltd (ESLT) has a higher volatility of 16.10% compared to iShares MSCI Spain ETF (EWP) at 5.74%. This indicates that ESLT'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
| ESLT | EWP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.10% | 5.74% | +10.36% |
Volatility (6M)Calculated over the trailing 6-month period | 33.65% | 15.65% | +18.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.23% | 18.72% | +23.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.12% | 20.25% | +12.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.11% | 22.23% | +6.88% |
Dividends
ESLT vs. EWP - Dividend Comparison
ESLT's dividend yield for the trailing twelve months is around 0.37%, less than EWP's 2.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESLT Elbit Systems Ltd | 0.37% | 0.47% | 0.77% | 0.94% | 1.22% | 1.03% | 1.28% | 1.14% | 1.54% | 1.32% | 1.57% | 1.63% |
EWP iShares MSCI Spain ETF | 2.13% | 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
ESLT and EWP have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ESLT has higher volatility (16.10%) compared to EWP (5.74%). In terms of maximum drawdown, ESLT dropped -53.79% vs EWP's -61.19%.
ESLT currently has the higher Sharpe Ratio (2.29 vs 1.95), 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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