EWA vs. ^N225

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI-Australia ETF (EWA) and Nikkei 225 (^N225).

EWA is a passively managed fund by iShares that tracks the performance of the MSCI Australia Index. It was launched on Mar 18, 1996.

Performance

EWA vs. ^N225 - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI-Australia ETF (EWA) and Nikkei 225 (^N225). The values are adjusted to include any dividend payments, if applicable.

EWA vs. ^N225 - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWA iShares MSCI-Australia ETF	7.25%	13.35%	1.60%	13.81%	-5.92%	8.93%	8.29%	22.45%	-12.04%	19.88%
^N225 Nikkei 225	-0.20%	26.56%	7.17%	19.21%	-20.48%	-5.90%	22.42%	19.73%	-10.20%	23.76%

Different Trading Currencies

EWA is traded in USD, while ^N225 is traded in JPY. To make them comparable, the ^N225 values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, EWA achieves a 7.25% return, which is significantly higher than ^N225's -0.06% return. Both investments have delivered pretty close results over the past 10 years, with EWA having a 8.25% annualized return and ^N225 not far ahead at 8.30%.

EWA

• 1D: 1.19%
• 1M: -6.15%
• YTD: 7.25%
• 6M: 5.23%
• 1Y: 22.34%
• 3Y*: 10.85%
• 5Y*: 6.55%
• 10Y*: 8.25%

^N225

• 1D: 0.00%
• 1M: -12.84%
• YTD: -0.06%
• 6M: 6.16%
• 1Y: 35.11%
• 3Y*: 14.74%
• 5Y*: 3.57%
• 10Y*: 8.30%

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

Return for Risk

EWA vs. ^N225 — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EWA

EWA Risk / Return Rank: 61
EWA Sharpe Ratio Rank: 58
EWA Sortino Ratio Rank: 57
EWA Omega Ratio Rank: 59
EWA Calmar Ratio Rank: 69
EWA Martin Ratio Rank: 64

^N225

^N225 Risk / Return Rank: 92
^N225 Sharpe Ratio Rank: 94
^N225 Sortino Ratio Rank: 97
^N225 Omega Ratio Rank: 94
^N225 Calmar Ratio Rank: 87
^N225 Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EWA vs. ^N225 - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI-Australia ETF (EWA) and Nikkei 225 (^N225). 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.

	EWA	^N225	Difference
Sharpe ratio Return per unit of total volatility	1.06	1.25	-0.19
Sortino ratio Return per unit of downside risk	1.54	1.91	-0.38
Omega ratio Gain probability vs. loss probability	1.23	1.25	-0.02
Calmar ratio Return relative to maximum drawdown	1.85	1.74	+0.11
Martin ratio Return relative to average drawdown	6.79	6.12	+0.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWA vs. ^N225 - Sharpe Ratio Comparison

The current EWA Sharpe Ratio is 1.06, which is comparable to the ^N225 Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of EWA and ^N225, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EWA	^N225	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	1.25	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.16	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.40	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.19	+0.10

Correlation

The correlation between EWA and ^N225 is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

EWA vs. ^N225 - Drawdown Comparison

The maximum EWA drawdown since its inception was -66.98%, which is greater than ^N225's maximum drawdown of -52.37%. Use the drawdown chart below to compare losses from any high point for EWA and ^N225.

Drawdown Indicators

	EWA	^N225	Difference
Max Drawdown Largest peak-to-trough decline	-66.98%	-81.87%	+14.89%
Max Drawdown (1Y) Largest decline over 1 year	-12.85%	-13.23%	+0.38%
Max Drawdown (5Y) Largest decline over 5 years	-24.87%	-26.26%	+1.39%
Max Drawdown (10Y) Largest decline over 10 years	-45.54%	-31.80%	-13.74%
Current Drawdown Current decline from peak	-6.86%	-7.92%	+1.06%
Average Drawdown Average peak-to-trough decline	-11.38%	-34.31%	+22.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	4.61%	-1.11%

Volatility

EWA vs. ^N225 - Volatility Comparison

The current volatility for iShares MSCI-Australia ETF (EWA) is 8.40%, while Nikkei 225 (^N225) has a volatility of 9.66%. This indicates that EWA experiences smaller price fluctuations and is considered to be less risky than ^N225 based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWA	^N225	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.40%	9.66%	-1.26%
Volatility (6M) Calculated over the trailing 6-month period	12.99%	18.72%	-5.73%
Volatility (1Y) Calculated over the trailing 1-year period	21.16%	28.11%	-6.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.62%	23.18%	-3.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.61%	21.27%	+1.34%