EWA vs. VPL

Last updated Aug 2, 2026

EWA (iShares MSCI-Australia ETF) and VPL (Vanguard FTSE Pacific ETF) are both exchange-traded funds - EWA is a Australia Equities fund tracking the MSCI Australia Index, while VPL is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific Index. Both are passively managed. Over the past 10 years, EWA returned 7.94%/yr vs 9.52%/yr for VPL. Their correlation of 0.80 means they have usually moved in the same direction. EWA charges 0.50%/yr vs 0.08%/yr for VPL.

Performance

EWA vs. VPL - Performance Comparison

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

Returns By Period

In the year-to-date period, EWA achieves a 13.60% return, which is significantly lower than VPL's 20.61% return. Over the past 10 years, EWA has underperformed VPL with an annualized return of 7.94%, while VPL has yielded a comparatively higher 9.52% annualized return.

EWA

• 1D: -1.61%
• 1M: 4.45%
• 6M: 7.22%
• YTD: 13.60%
• 1Y: 16.79%
• 3Y*: 12.37%
• 5Y*: 6.94%
• 10Y*: 7.94%
• ALL TIME*: 7.65%

VPL

• 1D: -1.01%
• 1M: -2.62%
• 6M: 10.34%
• YTD: 20.61%
• 1Y: 37.66%
• 3Y*: 18.88%
• 5Y*: 9.33%
• 10Y*: 9.52%
• ALL TIME*: 6.48%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EWA iShares MSCI-Australia ETF	$49.04M	$53.99M	$64.81M
VPL Vanguard FTSE Pacific ETF	$40.49M	$47.90M	$62.42M

EWA vs. VPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWA iShares MSCI-Australia ETF	13.60%	13.35%	1.60%	13.81%	-5.92%	8.93%	8.29%	22.45%	-12.04%	19.88%
VPL Vanguard FTSE Pacific ETF	20.61%	32.66%	1.68%	15.58%	-15.20%	1.10%	16.65%	18.16%	-14.40%	28.85%

Correlation

The correlation between EWA and VPL is 0.68, 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.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (10Y) Provides a long-term view across more market conditions.	0.80
Correlation (All Time) Calculated using the full available price history since Mar 10, 2005	0.80

The correlation between EWA and VPL shifts across timeframes, from 0.68 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.

EWA vs. VPL - Sectors Allocation Comparison

Sectors	EWA	VPL
Financial Services	43.1%	17.8%
Basic Materials	23.7%	6.5%
Consumer Cyclical	7.0%	8.8%
Energy	5.2%	1.1%
Real Estate	4.8%	3.6%
Healthcare	4.7%	4.3%
Industrials	4.2%	17.4%
Consumer Defensive	3.9%	3.2%
Communication Services	1.8%	4.4%
Technology	0.8%	31.6%
Utilities	0.7%	1.3%

Return for Risk

EWA vs. VPL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EWA

EWA Risk / Return Rank: 39
EWA Sharpe Ratio Rank: 38
EWA Sortino Ratio Rank: 37
EWA Omega Ratio Rank: 36
EWA Calmar Ratio Rank: 46
EWA Martin Ratio Rank: 39

VPL

VPL Risk / Return Rank: 72
VPL Sharpe Ratio Rank: 71
VPL Sortino Ratio Rank: 65
VPL Omega Ratio Rank: 73
VPL Calmar Ratio Rank: 80
VPL Martin Ratio Rank: 71

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.

EWA vs. VPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI-Australia ETF (EWA) and Vanguard FTSE Pacific ETF (VPL). 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.

	EWA	VPL	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.59	-0.66
Sortino ratio: Return per unit of downside risk	1.38	2.16	-0.78
Omega ratio: Gain probability vs. loss probability	1.17	1.30	-0.13
Calmar ratio: Return relative to maximum drawdown	1.63	2.84	-1.20
Martin ratio: Return relative to average drawdown	4.13	8.65	-4.52

EWA vs. VPL - Sharpe Ratio Comparison

The current EWA Sharpe Ratio is 0.93, which is lower than the VPL Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of EWA and VPL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EWA vs. VPL - Drawdown Comparison

The maximum EWA drawdown since its inception was -66.98%, which is greater than VPL's maximum drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for EWA and VPL.

Drawdown Indicators

	EWA	VPL	Difference
Max Drawdown Largest peak-to-trough decline	-66.98%	-55.49%	-11.49%
Max Drawdown (1Y) Largest decline over 1 year	-10.01%	-13.33%	+3.32%
Max Drawdown (3Y) Largest decline over 3 years	-21.91%	-16.35%	-5.56%
Max Drawdown (5Y) Largest decline over 5 years	-24.87%	-31.09%	+6.22%
Max Drawdown (10Y) Largest decline over 10 years	-45.54%	-33.90%	-11.64%
Current Drawdown Current decline from peak	-1.68%	-9.69%	+8.01%
Average Drawdown Average peak-to-trough decline	-11.29%	-11.59%	+0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	4.37%	-0.42%

Volatility

EWA vs. VPL - Volatility Comparison

The current volatility for iShares MSCI-Australia ETF (EWA) is 4.58%, while Vanguard FTSE Pacific ETF (VPL) has a volatility of 9.21%. This indicates that EWA experiences smaller price fluctuations and is considered to be less risky than VPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWA	VPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	9.21%	-4.63%
Volatility (6M) Calculated over the trailing 6-month period	14.91%	21.74%	-6.83%
Volatility (1Y) Calculated over the trailing 1-year period	17.56%	23.77%	-6.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.79%	18.34%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.49%	17.73%	+4.76%

EWA vs. VPL - Expense Ratio Comparison

EWA has a 0.50% expense ratio, which is higher than VPL's 0.08% expense ratio.

Dividends

EWA vs. VPL - Dividend Comparison

EWA's dividend yield for the trailing twelve months is around 2.89%, more than VPL's 2.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWA iShares MSCI-Australia ETF	2.89%	3.21%	3.71%	3.72%	5.28%	5.08%	2.02%	3.97%	6.11%	4.44%	4.03%	5.48%
VPL Vanguard FTSE Pacific ETF	2.77%	4.01%	3.15%	3.12%	2.75%	3.19%	1.81%	2.84%	3.06%	2.57%	2.65%	2.43%

Frequently Asked Questions

Can I hold both EWA and VPL in my portfolio?

EWA and VPL have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWA or VPL?

VPL has higher volatility (9.21%) compared to EWA (4.58%). In terms of maximum drawdown, EWA dropped -66.98% vs VPL's -55.49%.

Which ETF is better, EWA or VPL?

On 10-year performance, VPL leads with 9.52% vs 7.94% for EWA. On fees, VPL is cheaper at 0.08% per year. On volatility, EWA has been the lower-risk option at 4.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWA or VPL?

Over the 10-year period, VPL has performed better with a 9.52% return vs 7.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWA or VPL?

VPL is cheaper with a 0.08% expense ratio, compared with 0.50% for EWA.

Which ETF pays a higher dividend yield, EWA or VPL?

EWA has the higher dividend yield at 2.89%, compared with 2.77% for VPL.

What is the main difference between EWA and VPL?

EWA is categorized as Australia Equities, while VPL is Asia Pacific Equities. EWA tracks MSCI Australia Index, while VPL tracks FTSE Developed Asia Pacific Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.50% for EWA and 0.08% for VPL.

Which has better risk-adjusted returns?

VPL currently has the higher Sharpe Ratio (1.59 vs 0.93), 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.