EWG vs. EUDG

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI Germany ETF (EWG) and WisdomTree Europe Quality Dividend Growth Fund (EUDG).

EWG and EUDG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWG is a passively managed fund by iShares that tracks the performance of the MSCI Germany Index. It was launched on Mar 12, 1996. EUDG is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Europe Quality Dividend Growth Index. It was launched on May 7, 2014. Both EWG and EUDG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EWG vs. EUDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Germany ETF (EWG) and WisdomTree Europe Quality Dividend Growth Fund (EUDG). The values are adjusted to include any dividend payments, if applicable.

EWG vs. EUDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWG iShares MSCI Germany ETF	-6.66%	35.79%	9.79%	23.35%	-22.27%	5.84%	10.09%	19.15%	-21.40%	27.42%
EUDG WisdomTree Europe Quality Dividend Growth Fund	-2.65%	28.94%	-4.30%	19.36%	-18.24%	16.87%	11.29%	28.52%	-15.19%	29.66%

Returns By Period

In the year-to-date period, EWG achieves a -6.66% return, which is significantly lower than EUDG's -2.65% return. Over the past 10 years, EWG has underperformed EUDG with an annualized return of 7.03%, while EUDG has yielded a comparatively higher 7.83% annualized return.

EWG

• 1D: 3.39%
• 1M: -10.53%
• YTD: -6.66%
• 6M: -4.66%
• 1Y: 8.76%
• 3Y*: 14.25%
• 5Y*: 5.73%
• 10Y*: 7.03%

EUDG

• 1D: 2.85%
• 1M: -8.92%
• YTD: -2.65%
• 6M: 4.30%
• 1Y: 14.50%
• 3Y*: 8.89%
• 5Y*: 5.52%
• 10Y*: 7.83%

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

EWG vs. EUDG - Expense Ratio Comparison

EWG has a 0.49% expense ratio, which is lower than EUDG's 0.58% expense ratio.

EUDG

WisdomTree Europe Quality Dividend Growth Fund

EWG

iShares MSCI Germany ETF

Return for Risk

EWG vs. EUDG — Risk / Return Rank

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

EWG

EWG Risk / Return Rank: 27
EWG Sharpe Ratio Rank: 27
EWG Sortino Ratio Rank: 28
EWG Omega Ratio Rank: 27
EWG Calmar Ratio Rank: 26
EWG Martin Ratio Rank: 25

EUDG

EUDG Risk / Return Rank: 47
EUDG Sharpe Ratio Rank: 50
EUDG Sortino Ratio Rank: 50
EUDG Omega Ratio Rank: 46
EUDG Calmar Ratio Rank: 44
EUDG Martin Ratio Rank: 45

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.

EWG vs. EUDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Germany ETF (EWG) and WisdomTree Europe Quality Dividend Growth Fund (EUDG). 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.

	EWG	EUDG	Difference
Sharpe ratio Return per unit of total volatility	0.44	0.88	-0.44
Sortino ratio Return per unit of downside risk	0.77	1.32	-0.55
Omega ratio Gain probability vs. loss probability	1.10	1.17	-0.07
Calmar ratio Return relative to maximum drawdown	0.54	1.11	-0.57
Martin ratio Return relative to average drawdown	1.76	4.24	-2.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWG vs. EUDG - Sharpe Ratio Comparison

The current EWG Sharpe Ratio is 0.44, which is lower than the EUDG Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of EWG and EUDG, 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

	EWG	EUDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.44	0.88	-0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.34	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.45	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.32	-0.08

Correlation

The correlation between EWG and EUDG is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EWG vs. EUDG - Dividend Comparison

EWG's dividend yield for the trailing twelve months is around 1.71%, less than EUDG's 2.35% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWG iShares MSCI Germany ETF	1.71%	1.60%	2.38%	2.56%	3.24%	2.70%	1.67%	2.51%	2.93%	2.06%	2.35%	1.93%
EUDG WisdomTree Europe Quality Dividend Growth Fund	2.35%	2.19%	2.41%	2.14%	3.07%	2.98%	1.87%	2.30%	3.00%	1.55%	2.49%	2.10%

Drawdowns

EWG vs. EUDG - Drawdown Comparison

The maximum EWG drawdown since its inception was -67.57%, which is greater than EUDG's maximum drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for EWG and EUDG.

Drawdown Indicators

	EWG	EUDG	Difference
Max Drawdown Largest peak-to-trough decline	-67.57%	-33.76%	-33.81%
Max Drawdown (1Y) Largest decline over 1 year	-14.54%	-12.20%	-2.34%
Max Drawdown (5Y) Largest decline over 5 years	-43.44%	-33.30%	-10.14%
Max Drawdown (10Y) Largest decline over 10 years	-46.80%	-33.76%	-13.04%
Current Drawdown Current decline from peak	-10.97%	-9.27%	-1.70%
Average Drawdown Average peak-to-trough decline	-19.28%	-7.77%	-11.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	3.20%	+1.26%

Volatility

EWG vs. EUDG - Volatility Comparison

iShares MSCI Germany ETF (EWG) has a higher volatility of 8.65% compared to WisdomTree Europe Quality Dividend Growth Fund (EUDG) at 6.98%. This indicates that EWG's price experiences larger fluctuations and is considered to be riskier than EUDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWG	EUDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.65%	6.98%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	12.39%	10.65%	+1.74%
Volatility (1Y) Calculated over the trailing 1-year period	19.80%	16.52%	+3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.30%	16.45%	+3.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.03%	17.57%	+3.46%