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EUDV vs. EWO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EUDV vs. EWO

Last updated Aug 4, 2026
Documentation

EUDV (ProShares MSCI Europe Dividend Growers ETF) and EWO (iShares MSCI Austria ETF) are both Europe Equities funds - EUDV tracks the MSCI Europe Dividend Masters Index while EWO tracks the MSCI Austria Investable Market Index. Both are passively managed. Over the past 10 years, EUDV returned 5.57%/yr vs 15.11%/yr for EWO. Their 0.60 correlation means they have sometimes moved together and sometimes differently. EUDV charges 0.55%/yr vs 0.49%/yr for EWO.

Performance

EUDV vs. EWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares MSCI Europe Dividend Growers ETF (EUDV) and iShares MSCI Austria ETF (EWO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EUDV achieves a 5.42% return, which is significantly lower than EWO's 23.93% return. Over the past 10 years, EUDV has underperformed EWO with an annualized return of 5.57%, while EWO has yielded a comparatively higher 15.11% annualized return.

EUDV

1D
0.57%
1M
1.23%
6M
2.77%
YTD
5.42%
1Y
9.31%
3Y*
8.67%
5Y*
1.54%
10Y*
5.57%
ALL TIME*
5.01%

EWO

1D
1.41%
1M
1.03%
6M
16.20%
YTD
23.93%
1Y
49.93%
3Y*
34.23%
5Y*
17.28%
10Y*
15.11%
ALL TIME*
7.35%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

EUDV

ProShares MSCI Europe Dividend Growers ETF
$11.63K$8.35K$24.96K

EWO

iShares MSCI Austria ETF
$1.81M$2.91M$1.73M

EUDV vs. EWO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EUDV
ProShares MSCI Europe Dividend Growers ETF		5.42%14.05%0.03%20.41%-24.87%19.56%5.81%25.89%-11.12%21.57%
EWO
iShares MSCI Austria ETF		23.93%74.21%4.05%20.63%-21.95%31.50%-3.67%17.05%-22.88%52.47%

Correlation

The correlation between EUDV and EWO is 0.53, 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.

0.53

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

0.60

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

0.65

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

0.61

Correlation (All Time)
Calculated using the full available price history since Sep 11, 2015

0.60

The correlation between EUDV and EWO shifts across timeframes, from 0.53 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.

EUDV vs. EWO - Sectors Allocation Comparison

Sectors
EUDV
EWO

Industrials

19.5%
11.1%

Healthcare

18.1%

-

Basic Materials

12.4%
9.4%

Financial Services

12.3%
48.1%

Consumer Defensive

11.4%

-

Technology

10.6%
5.9%

Utilities

9.1%
6.4%

Communication Services

3.7%

-

Real Estate

2.8%
3.7%

Energy

2.2%
9.6%

Consumer Cyclical

-

4.7%

Industrials

EUDV
19.5%
EWO
11.1%

Healthcare

EUDV
18.1%
EWO

-

Basic Materials

EUDV
12.4%
EWO
9.4%

Financial Services

EUDV
12.3%
EWO
48.1%

Consumer Defensive

EUDV
11.4%
EWO

-

Technology

EUDV
10.6%
EWO
5.9%

Utilities

EUDV
9.1%
EWO
6.4%

Communication Services

EUDV
3.7%
EWO

-

Real Estate

EUDV
2.8%
EWO
3.7%

Energy

EUDV
2.2%
EWO
9.6%

Consumer Cyclical

EUDV

-

EWO
4.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares MSCI Europe Dividend Growers ETF

iShares MSCI Austria ETF

Often compared with EUDV:
EUDV vs. EUDGEUDV vs. HUKX.LEUDV vs. LDEG.LEUDV vs. IDHQEUDV vs. IEUREUDV vs. SPYEUDV vs. PRF
Often compared with EWO:
EWO vs. EWAEWO vs. EWQEWO vs. EWLEWO vs. EWGEWO vs. IBZL.LEWO vs. EEMEWO vs. VOO

Return for Risk

EUDV vs. EWO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EUDV
EUDV Risk / Return Rank: 2727
Overall Rank
EUDV Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
EUDV Sortino Ratio Rank: 2727
Sortino Ratio Rank
EUDV Omega Ratio Rank: 2525
Omega Ratio Rank
EUDV Calmar Ratio Rank: 2727
Calmar Ratio Rank
EUDV Martin Ratio Rank: 2929
Martin Ratio Rank
EWO
EWO Risk / Return Rank: 8989
Overall Rank
EWO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
EWO Sortino Ratio Rank: 9292
Sortino Ratio Rank
EWO Omega Ratio Rank: 9090
Omega Ratio Rank
EWO Calmar Ratio Rank: 8787
Calmar Ratio Rank
EWO Martin Ratio Rank: 8484
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.

EUDV vs. EWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares MSCI Europe Dividend Growers ETF (EUDV) and iShares MSCI Austria ETF (EWO). 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.

EUDVEWODifference
Sharpe ratioReturn per unit of total volatility
0.67
2.52

-1.85

Sortino ratioReturn per unit of downside risk
1.02
3.53

-2.51

Omega ratioGain probability vs. loss probability

1.12

1.42

-0.30

Calmar ratioReturn relative to maximum drawdown

0.88

3.56

-2.68

Martin ratioReturn relative to average drawdown

2.62

11.89

-9.27

EUDV vs. EWO - Sharpe Ratio Comparison

The current EUDV Sharpe Ratio is 0.67, which is lower than the EWO Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of EUDV and EWO, 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

EUDV vs. EWO - Drawdown Comparison

The maximum EUDV drawdown since its inception was -37.51%, smaller than the maximum EWO drawdown of -75.69%. Use the drawdown chart below to compare losses from any high point for EUDV and EWO.

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Drawdown Indicators

EUDVEWODifference

Max Drawdown

Largest peak-to-trough decline

-37.51%

-75.69%

+38.18%

Max Drawdown (1Y)

Largest decline over 1 year

-10.63%

-14.08%

+3.45%

Max Drawdown (3Y)

Largest decline over 3 years

-13.69%

-16.75%

+3.06%

Max Drawdown (5Y)

Largest decline over 5 years

-37.51%

-41.82%

+4.31%

Max Drawdown (10Y)

Largest decline over 10 years

-37.51%

-58.10%

+20.59%

Current Drawdown

Current decline from peak

-0.71%

-0.14%

-0.57%

Average Drawdown

Average peak-to-trough decline

-8.53%

-27.98%

+19.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.56%

4.21%

-0.65%

Volatility

EUDV vs. EWO - Volatility Comparison

The current volatility for ProShares MSCI Europe Dividend Growers ETF (EUDV) is 3.53%, while iShares MSCI Austria ETF (EWO) has a volatility of 6.04%. This indicates that EUDV experiences smaller price fluctuations and is considered to be less risky than EWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EUDVEWODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.53%

6.04%

-2.51%

Volatility (6M)

Calculated over the trailing 6-month period

11.63%

16.83%

-5.20%

Volatility (1Y)

Calculated over the trailing 1-year period

14.07%

19.98%

-5.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.22%

22.04%

-5.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.91%

22.61%

-5.70%

EUDV vs. EWO - Expense Ratio Comparison

EUDV has a 0.55% expense ratio, which is higher than EWO's 0.49% expense ratio.

Dividends

EUDV vs. EWO - Dividend Comparison

EUDV's dividend yield for the trailing twelve months is around 2.04%, more than EWO's 1.95% yield.

PositionTTM20252024202320222021202020192018201720162015
EUDV
ProShares MSCI Europe Dividend Growers ETF		2.04%1.74%1.92%1.87%1.77%2.30%1.27%2.20%2.22%2.33%2.53%0.37%
EWO
iShares MSCI Austria ETF		1.95%2.38%7.40%5.66%4.75%2.42%0.98%3.11%4.04%2.03%1.99%1.51%

Frequently Asked Questions

EUDV and EWO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWO has higher volatility (6.04%) compared to EUDV (3.53%). In terms of maximum drawdown, EUDV dropped -37.51% vs EWO's -75.69%.

On 10-year performance, EWO leads with 15.11% vs 5.57% for EUDV. On fees, EWO is cheaper at 0.49% per year. On volatility, EUDV has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWO has performed better with a 15.11% return vs 5.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWO is cheaper with a 0.49% expense ratio, compared with 0.55% for EUDV.

EUDV has the higher dividend yield at 2.04%, compared with 1.95% for EWO.

EUDV tracks MSCI Europe Dividend Masters Index, while EWO tracks MSCI Austria Investable Market Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.55% for EUDV and 0.49% for EWO.

EWO currently has the higher Sharpe Ratio (2.52 vs 0.67), 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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