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EWH vs. EIDO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWH vs. EIDO

Last updated Jun 13, 2026

EWH (iShares MSCI Hong Kong ETF) and EIDO (iShares MSCI Indonesia ETF) are both Asia Pacific Equities funds from iShares - EWH tracks the MSCI Hong Kong Index while EIDO tracks the MSCI Indonesia Investable Market Index. Both are passively managed. Over the past 10 years, EWH returned 4.79%/yr vs -3.71%/yr for EIDO. At a 0.48 correlation, their price movements are largely independent. EWH charges 0.49%/yr vs 0.59%/yr for EIDO.

Performance

EWH vs. EIDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Hong Kong ETF (EWH) and iShares MSCI Indonesia ETF (EIDO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EWH achieves a 3.53% return, which is significantly higher than EIDO's -34.01% return. Over the past 10 years, EWH has outperformed EIDO with an annualized return of 4.79%, while EIDO has yielded a comparatively lower -3.71% annualized return.

EWH

1D
0.55%
1M
-10.39%
YTD
3.53%
6M
3.83%
1Y
16.40%
3Y*
7.74%
5Y*
-0.57%
10Y*
4.79%

EIDO

1D
1.82%
1M
-13.71%
YTD
-34.01%
6M
-33.58%
1Y
-32.31%
3Y*
-16.75%
5Y*
-8.51%
10Y*
-3.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWH vs. EIDO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWH
iShares MSCI Hong Kong ETF		3.53%34.50%0.00%-13.87%-6.81%-3.49%4.17%10.74%-8.76%36.46%
EIDO
iShares MSCI Indonesia ETF		-34.01%4.90%-13.02%2.56%-0.16%-0.60%-7.13%5.30%-10.88%19.40%

Correlation

The correlation between EWH and EIDO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.35

Correlation (3Y)
Calculated over the trailing 3-year period

0.33

Correlation (5Y)
Calculated over the trailing 5-year period

0.34

Correlation (10Y)
Calculated over the trailing 10-year period

0.42

Correlation (All Time)
Calculated using the full available price history since May 7, 2010

0.48

The correlation between EWH and EIDO shifts across timeframes, from 0.33 (3 years) to 0.48 (all time), reflecting how their relationship changes across market environments.

EWH vs. EIDO - Sectors Allocation Comparison

Sectors
EWH
EIDO

Financial Services

45.4%
37.8%

Real Estate

18.7%
1.8%

Industrials

16.6%
6.1%

Utilities

11.2%
2.4%

Consumer Cyclical

3.7%
1.6%

Consumer Defensive

2.7%
7.5%

Communication Services

1.7%
8.7%

Basic Materials

-

18.5%

Energy

-

10.6%

Healthcare

-

2.4%

Technology

-

2.7%

Financial Services

EWH
45.4%
EIDO
37.8%

Real Estate

EWH
18.7%
EIDO
1.8%

Industrials

EWH
16.6%
EIDO
6.1%

Utilities

EWH
11.2%
EIDO
2.4%

Consumer Cyclical

EWH
3.7%
EIDO
1.6%

Consumer Defensive

EWH
2.7%
EIDO
7.5%

Communication Services

EWH
1.7%
EIDO
8.7%

Basic Materials

EWH

-

EIDO
18.5%

Energy

EWH

-

EIDO
10.6%

Healthcare

EWH

-

EIDO
2.4%

Technology

EWH

-

EIDO
2.7%

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 Hong Kong ETF

iShares MSCI Indonesia ETF

Often compared with EWH:
EWH vs. MCHIEWH vs. FXIEWH vs. EWSEWH vs. EWYEWH vs. EWTEWH vs. EWJEWH vs. EPP
Often compared with EIDO:
EIDO vs. IDXEIDO vs. EWYEIDO vs. INDAEIDO vs. ASEAEIDO vs. EWMEIDO vs. EWSEIDO vs. EWW

Return for Risk

EWH vs. EIDO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWH
EWH Risk / Return Rank: 3131
Overall Rank
EWH Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
EWH Sortino Ratio Rank: 3030
Sortino Ratio Rank
EWH Omega Ratio Rank: 2929
Omega Ratio Rank
EWH Calmar Ratio Rank: 2929
Calmar Ratio Rank
EWH Martin Ratio Rank: 3434
Martin Ratio Rank
EIDO
EIDO Risk / Return Rank: 11
Overall Rank
EIDO Sharpe Ratio Rank: 00
Sharpe Ratio Rank
EIDO Sortino Ratio Rank: 11
Sortino Ratio Rank
EIDO Omega Ratio Rank: 00
Omega Ratio Rank
EIDO Calmar Ratio Rank: 33
Calmar Ratio Rank
EIDO Martin Ratio Rank: 00
Martin Ratio Rank
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.

EWH vs. EIDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Hong Kong ETF (EWH) and iShares MSCI Indonesia ETF (EIDO). 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.

EWHEIDODifference
Sharpe ratioReturn per unit of total volatility
0.98
-1.29

+2.27

Sortino ratioReturn per unit of downside risk
1.46
-1.84

+3.30

Omega ratioGain probability vs. loss probability

1.17

0.76

+0.41

Calmar ratioReturn relative to maximum drawdown

1.28

-0.74

+2.02

Martin ratioReturn relative to average drawdown

4.57

-2.38

+6.95

EWH vs. EIDO - Sharpe Ratio Comparison

The current EWH Sharpe Ratio is 0.98, which is higher than the EIDO Sharpe Ratio of -1.29. The chart below compares the historical Sharpe Ratios of EWH and EIDO, 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

EWH vs. EIDO - Drawdown Comparison

The maximum EWH drawdown since its inception was -66.44%, which is greater than EIDO's maximum drawdown of -63.21%. Use the drawdown chart below to compare losses from any high point for EWH and EIDO.

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Drawdown Indicators

EWHEIDODifference

Max Drawdown

Largest peak-to-trough decline

-66.44%

-63.21%

-3.23%

Max Drawdown (1Y)

Largest decline over 1 year

-12.91%

-43.81%

+30.90%

Max Drawdown (3Y)

Largest decline over 3 years

-24.93%

-51.77%

+26.84%

Max Drawdown (5Y)

Largest decline over 5 years

-41.28%

-51.77%

+10.49%

Max Drawdown (10Y)

Largest decline over 10 years

-42.71%

-59.41%

+16.70%

Current Drawdown

Current decline from peak

-10.39%

-54.96%

+44.57%

Average Drawdown

Average peak-to-trough decline

-19.47%

-24.68%

+5.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.60%

13.63%

-10.03%

Volatility

EWH vs. EIDO - Volatility Comparison

The current volatility for iShares MSCI Hong Kong ETF (EWH) is 5.23%, while iShares MSCI Indonesia ETF (EIDO) has a volatility of 13.82%. This indicates that EWH experiences smaller price fluctuations and is considered to be less risky than EIDO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWHEIDODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.23%

13.82%

-8.59%

Volatility (6M)

Calculated over the trailing 6-month period

12.44%

21.56%

-9.12%

Volatility (1Y)

Calculated over the trailing 1-year period

16.80%

25.14%

-8.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.08%

20.41%

-0.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.59%

25.00%

-5.41%

EWH vs. EIDO - Expense Ratio Comparison

EWH has a 0.49% expense ratio, which is lower than EIDO's 0.59% expense ratio.

Dividends

EWH vs. EIDO - Dividend Comparison

EWH's dividend yield for the trailing twelve months is around 5.02%, less than EIDO's 5.39% yield.

PositionTTM20252024202320222021202020192018201720162015
EIDO
iShares MSCI Indonesia ETF		5.39%3.56%5.20%2.94%2.53%1.33%1.51%1.78%1.99%1.26%1.16%1.67%
EWH
iShares MSCI Hong Kong ETF		5.02%5.20%4.17%4.28%2.91%2.78%2.56%2.71%2.93%4.35%3.08%2.63%

Frequently Asked Questions

EWH and EIDO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EIDO has higher volatility (13.82%) compared to EWH (5.23%). In terms of maximum drawdown, EWH dropped -66.44% vs EIDO's -63.21%.

On 10-year performance, EWH leads with 4.79% vs -3.71% for EIDO. On fees, EWH is cheaper at 0.49% per year. On volatility, EWH has been the lower-risk option at 5.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWH has performed better with a 4.79% return vs -3.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWH is cheaper with a 0.49% expense ratio, compared with 0.59% for EIDO.

EIDO has the higher dividend yield at 5.39%, compared with 5.02% for EWH.

EWH tracks MSCI Hong Kong Index, while EIDO tracks MSCI Indonesia Investable Market Index. Their fees differ too: 0.49% for EWH and 0.59% for EIDO.

EWH currently has the higher Sharpe Ratio (0.98 vs -1.29), 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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