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EWG vs. FDD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWG vs. FDD

Last updated Aug 4, 2026
Documentation

EWG (iShares MSCI Germany ETF) and FDD (First Trust STOXX European Select Dividend Index Fund) are both Europe Equities funds - EWG tracks the MSCI Germany Index while FDD tracks the STOXX Europe Select Dividend 30. Both are passively managed. Over the past 10 years, EWG returned 7.95%/yr vs 11.00%/yr for FDD. Their 0.76 correlation means they have sometimes moved together and sometimes differently. EWG charges 0.49%/yr vs 0.58%/yr for FDD.

Performance

EWG vs. FDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Germany ETF (EWG) and First Trust STOXX European Select Dividend Index Fund (FDD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EWG achieves a 4.12% return, which is significantly lower than FDD's 19.28% return. Over the past 10 years, EWG has underperformed FDD with an annualized return of 7.95%, while FDD has yielded a comparatively higher 11.00% annualized return.

EWG

1D
1.24%
1M
2.53%
6M
1.77%
YTD
4.12%
1Y
8.59%
3Y*
17.75%
5Y*
7.19%
10Y*
7.95%
ALL TIME*
6.37%

FDD

1D
0.30%
1M
7.57%
6M
12.89%
YTD
19.28%
1Y
39.85%
3Y*
27.89%
5Y*
13.10%
10Y*
11.00%
ALL TIME*
2.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

EWG

iShares MSCI Germany ETF
$53.17M$48.20M$48.04M

FDD

First Trust STOXX European Select Dividend Index Fund
$2.28M$2.30M$2.57M

EWG vs. FDD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWG
iShares MSCI Germany ETF		4.12%35.79%9.79%23.35%-22.27%5.84%10.09%19.15%-21.40%27.42%
FDD
First Trust STOXX European Select Dividend Index Fund		19.28%62.50%0.28%14.16%-16.14%16.03%-3.80%23.79%-8.98%19.07%

Correlation

The correlation between EWG and FDD is 0.78, 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.

0.78

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

0.81

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

0.85

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

0.83

Correlation (All Time)
Calculated using the full available price history since Aug 30, 2007

0.76

The correlation between EWG and FDD has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

EWG vs. FDD - Sectors Allocation Comparison

Sectors
EWG
FDD

Industrials

30.4%
11.4%

Financial Services

22.0%
58.2%

Technology

15.1%

-

Consumer Cyclical

7.8%
9.2%

Healthcare

7.0%

-

Communication Services

5.5%
1.9%

Basic Materials

5.2%
2.8%

Utilities

4.7%
6.0%

Consumer Defensive

1.5%
4.2%

Real Estate

0.9%
3.3%

Energy

-

9.1%

Industrials

EWG
30.4%
FDD
11.4%

Financial Services

EWG
22.0%
FDD
58.2%

Technology

EWG
15.1%
FDD

-

Consumer Cyclical

EWG
7.8%
FDD
9.2%

Healthcare

EWG
7.0%
FDD

-

Communication Services

EWG
5.5%
FDD
1.9%

Basic Materials

EWG
5.2%
FDD
2.8%

Utilities

EWG
4.7%
FDD
6.0%

Consumer Defensive

EWG
1.5%
FDD
4.2%

Real Estate

EWG
0.9%
FDD
3.3%

Energy

EWG

-

FDD
9.1%

Compare stocks, funds, or ETFs

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

iShares MSCI Germany ETF

First Trust STOXX European Select Dividend Index Fund

Often compared with EWG:
EWG vs. EWQEWG vs. SPYEWG vs. EWPEWG vs. IEUREWG vs. FLGREWG vs. EFAEWG vs. EWD
Often compared with FDD:
FDD vs. EUFNFDD vs. RFEUFDD vs. FLAXFDD vs. VTIFDD vs. IQDFFDD vs. IEURFDD vs. DVY

Return for Risk

EWG vs. FDD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EWG
EWG Risk / Return Rank: 2222
Overall Rank
EWG Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
EWG Sortino Ratio Rank: 2222
Sortino Ratio Rank
EWG Omega Ratio Rank: 2222
Omega Ratio Rank
EWG Calmar Ratio Rank: 2121
Calmar Ratio Rank
EWG Martin Ratio Rank: 2424
Martin Ratio Rank
FDD
FDD Risk / Return Rank: 9191
Overall Rank
FDD Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
FDD Sortino Ratio Rank: 9292
Sortino Ratio Rank
FDD Omega Ratio Rank: 9090
Omega Ratio Rank
FDD Calmar Ratio Rank: 9292
Calmar Ratio Rank
FDD Martin Ratio Rank: 8989
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.

EWG vs. FDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Germany ETF (EWG) and First Trust STOXX European Select Dividend Index Fund (FDD). 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.

EWGFDDDifference
Sharpe ratioReturn per unit of total volatility
0.49
2.54

-2.05

Sortino ratioReturn per unit of downside risk
0.80
3.45

-2.65

Omega ratioGain probability vs. loss probability

1.10

1.43

-0.33

Calmar ratioReturn relative to maximum drawdown

0.59

4.26

-3.67

Martin ratioReturn relative to average drawdown

1.77

14.11

-12.34

EWG vs. FDD - Sharpe Ratio Comparison

The current EWG Sharpe Ratio is 0.49, which is lower than the FDD Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of EWG and FDD, 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

EWG vs. FDD - Drawdown Comparison

The maximum EWG drawdown since its inception was -67.57%, smaller than the maximum FDD drawdown of -74.77%. Use the drawdown chart below to compare losses from any high point for EWG and FDD.

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Drawdown Indicators

EWGFDDDifference

Max Drawdown

Largest peak-to-trough decline

-67.57%

-74.77%

+7.20%

Max Drawdown (1Y)

Largest decline over 1 year

-14.54%

-9.39%

-5.15%

Max Drawdown (3Y)

Largest decline over 3 years

-15.49%

-12.90%

-2.59%

Max Drawdown (5Y)

Largest decline over 5 years

-42.59%

-34.84%

-7.75%

Max Drawdown (10Y)

Largest decline over 10 years

-46.80%

-41.43%

-5.37%

Current Drawdown

Current decline from peak

-0.70%

0.00%

-0.70%

Average Drawdown

Average peak-to-trough decline

-19.12%

-35.17%

+16.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.86%

2.83%

+2.03%

Volatility

EWG vs. FDD - Volatility Comparison

iShares MSCI Germany ETF (EWG) has a higher volatility of 4.87% compared to First Trust STOXX European Select Dividend Index Fund (FDD) at 3.60%. This indicates that EWG's price experiences larger fluctuations and is considered to be riskier than FDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWGFDDDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.87%

3.60%

+1.27%

Volatility (6M)

Calculated over the trailing 6-month period

15.35%

13.01%

+2.34%

Volatility (1Y)

Calculated over the trailing 1-year period

17.72%

15.80%

+1.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.59%

18.44%

+2.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.82%

19.77%

+1.05%

EWG vs. FDD - Expense Ratio Comparison

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

Dividends

EWG vs. FDD - Dividend Comparison

EWG's dividend yield for the trailing twelve months is around 1.92%, less than FDD's 4.99% yield.

PositionTTM20252024202320222021202020192018201720162015
EWG
iShares MSCI Germany ETF		1.92%1.60%2.38%2.56%3.24%2.70%1.67%2.51%2.93%2.06%2.35%1.93%
FDD
First Trust STOXX European Select Dividend Index Fund		4.99%3.99%7.65%6.85%6.07%3.44%4.01%4.69%5.05%2.78%4.88%4.35%

Frequently Asked Questions

EWG and FDD have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWG has higher volatility (4.87%) compared to FDD (3.60%). In terms of maximum drawdown, EWG dropped -67.57% vs FDD's -74.77%.

On 10-year performance, FDD leads with 11.00% vs 7.95% for EWG. On fees, EWG is cheaper at 0.49% per year. On volatility, FDD has been the lower-risk option at 3.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FDD has performed better with a 11.00% return vs 7.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWG is cheaper with a 0.49% expense ratio, compared with 0.58% for FDD.

FDD has the higher dividend yield at 4.99%, compared with 1.92% for EWG.

EWG tracks MSCI Germany Index, while FDD tracks STOXX Europe Select Dividend 30. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.49% for EWG and 0.58% for FDD.

FDD currently has the higher Sharpe Ratio (2.54 vs 0.49), 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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