EWC vs. CDUAF
EWC (iShares MSCI Canada ETF) is Canada Equities fund tracking the MSCI Canada Custom Capped Index, while CDUAF (Canadian Utilities Limited) is a stock. Over the past 10 years, EWC returned 11.07%/yr vs 7.26%/yr for CDUAF. At a 0.25 correlation, their price movements are largely independent.
Performance
EWC vs. CDUAF - Performance Comparison
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Returns By Period
In the year-to-date period, EWC achieves a 9.41% return, which is significantly lower than CDUAF's 23.00% return. Over the past 10 years, EWC has outperformed CDUAF with an annualized return of 11.07%, while CDUAF has yielded a comparatively lower 7.26% annualized return.
EWC
- 1D
- 0.14%
- 1M
- 0.42%
- 6M
- 7.11%
- YTD
- 9.41%
- 1Y
- 29.05%
- 3Y*
- 20.80%
- 5Y*
- 11.96%
- 10Y*
- 11.07%
CDUAF
- 1D
- 1.20%
- 1M
- 1.65%
- 6M
- 23.27%
- YTD
- 23.00%
- 1Y
- 41.49%
- 3Y*
- 19.20%
- 5Y*
- 11.66%
- 10Y*
- 7.26%
EWC vs. CDUAF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWC iShares MSCI Canada ETF | 9.41% | 35.92% | 12.38% | 14.73% | -12.95% | 26.98% | 5.52% | 27.58% | -17.16% | 15.73% |
CDUAF Canadian Utilities Limited | 23.00% | 35.10% | 6.34% | -6.25% | -1.87% | 25.16% | -14.69% | 37.49% | -19.67% | 15.55% |
Correlation
The correlation between EWC and CDUAF is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2007 | 0.25 |
Over the past year, the correlation between EWC and CDUAF has dropped to 0.05 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.
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Return for Risk
EWC vs. CDUAF — Risk / Return Rank
EWC
CDUAF
EWC vs. CDUAF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Canada ETF (EWC) and Canadian Utilities Limited (CDUAF). 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.
| EWC | CDUAF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.49 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 7.80 | -4.37 |
| Martin ratioReturn relative to average drawdown | 13.53 | 19.24 | -5.71 |
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Drawdowns
EWC vs. CDUAF - Drawdown Comparison
The maximum EWC drawdown since its inception was -60.75%, smaller than the maximum CDUAF drawdown of -71.22%. Use the drawdown chart below to compare losses from any high point for EWC and CDUAF.
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Drawdown Indicators
| EWC | CDUAF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.75% | -71.22% | +10.47% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | -5.35% | -3.16% |
Max Drawdown (3Y)Largest decline over 3 years | -12.97% | -18.96% | +5.99% |
Max Drawdown (5Y)Largest decline over 5 years | -24.81% | -31.94% | +7.13% |
Max Drawdown (10Y)Largest decline over 10 years | -42.66% | -41.92% | -0.74% |
Current DrawdownCurrent decline from peak | -0.76% | -14.80% | +14.04% |
Average DrawdownAverage peak-to-trough decline | -13.10% | -39.76% | +26.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 2.16% | -0.01% |
Volatility
EWC vs. CDUAF - Volatility Comparison
The current volatility for iShares MSCI Canada ETF (EWC) is 2.95%, while Canadian Utilities Limited (CDUAF) has a volatility of 4.07%. This indicates that EWC experiences smaller price fluctuations and is considered to be less risky than CDUAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWC | CDUAF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.95% | 4.07% | -1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 11.27% | 12.00% | -0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.30% | 16.20% | -1.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.27% | 19.10% | -1.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.67% | 24.94% | -6.27% |
Dividends
EWC vs. CDUAF - Dividend Comparison
EWC's dividend yield for the trailing twelve months is around 1.28%, less than CDUAF's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDUAF Canadian Utilities Limited | 3.56% | 4.21% | 5.47% | 6.05% | 5.03% | 4.85% | 5.32% | 4.24% | 4.49% | 4.82% | 4.82% | 5.11% |
EWC iShares MSCI Canada ETF | 1.28% | 1.45% | 2.23% | 2.27% | 2.34% | 1.85% | 2.09% | 2.16% | 2.65% | 1.97% | 1.75% | 2.34% |
Frequently Asked Questions
EWC and CDUAF have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDUAF has higher volatility (4.07%) compared to EWC (2.95%). In terms of maximum drawdown, EWC dropped -60.75% vs CDUAF's -71.22%.
CDUAF currently has the higher Sharpe Ratio (2.58 vs 2.04), 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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