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EWI vs. BBEU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWI vs. BBEU

Last updated Aug 6, 2026
Documentation

EWI (iShares MSCI Italy ETF) and BBEU (JPMorgan BetaBuilders Europe ETF) are both Europe Equities funds - EWI tracks the MSCI Italy 25/50 Index (Net) while BBEU tracks the Morningstar Developed Europe Target Market Exposure Index. Both are passively managed. Over the past 5 years, EWI returned 18.14%/yr vs 9.88%/yr for BBEU. Their correlation of 0.88 means they have usually moved in the same direction. EWI charges 0.50%/yr vs 0.09%/yr for BBEU.

Performance

EWI vs. BBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Italy ETF (EWI) and JPMorgan BetaBuilders Europe ETF (BBEU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EWI achieves a 18.60% return, which is significantly higher than BBEU's 11.59% return.

EWI

1D
-0.03%
1M
3.35%
6M
13.15%
YTD
18.60%
1Y
33.93%
3Y*
29.60%
5Y*
18.14%
10Y*
14.91%
ALL TIME*
6.69%

BBEU

1D
-0.05%
1M
1.80%
6M
6.18%
YTD
11.59%
1Y
24.71%
3Y*
18.10%
5Y*
9.88%
10Y*
—
ALL TIME*
9.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

BBEU

JPMorgan BetaBuilders Europe ETF
$15.19M$17.44M$26.82M

EWI

iShares MSCI Italy ETF
$29.45M$26.12M$25.56M

EWI vs. BBEU - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
EWI
iShares MSCI Italy ETF		18.60%55.72%10.23%30.63%-14.16%14.38%1.69%26.98%-16.93%
BBEU
JPMorgan BetaBuilders Europe ETF		11.59%36.37%1.85%20.31%-14.72%17.50%5.00%23.96%-13.25%

Correlation

The correlation between EWI and BBEU is 0.87, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.87

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

0.88

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

0.90

Correlation (All Time)
Calculated using the full available price history since Jun 18, 2018

0.88

The correlation between EWI and BBEU has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

EWI vs. BBEU - Sectors Allocation Comparison

Sectors
EWI
BBEU

Financial Services

50.1%
23.2%

Utilities

18.0%
2.9%

Industrials

10.4%
14.5%

Consumer Cyclical

9.0%
4.3%

Energy

6.6%
3.5%

Communication Services

2.7%
2.5%

Healthcare

1.3%
11.0%

Basic Materials

1.0%
4.0%

Consumer Defensive

0.9%
8.1%

Real Estate

-

0.3%

Technology

-

8.0%

Financial Services

EWI
50.1%
BBEU
23.2%

Utilities

EWI
18.0%
BBEU
2.9%

Industrials

EWI
10.4%
BBEU
14.5%

Consumer Cyclical

EWI
9.0%
BBEU
4.3%

Energy

EWI
6.6%
BBEU
3.5%

Communication Services

EWI
2.7%
BBEU
2.5%

Healthcare

EWI
1.3%
BBEU
11.0%

Basic Materials

EWI
1.0%
BBEU
4.0%

Consumer Defensive

EWI
0.9%
BBEU
8.1%

Real Estate

EWI

-

BBEU
0.3%

Technology

EWI

-

BBEU
8.0%

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 Italy ETF

JPMorgan BetaBuilders Europe ETF

Often compared with EWI:
EWI vs. EWPEWI vs. SPYEWI vs. EWQEWI vs. VOOEWI vs. FEZEWI vs. QQQEEWI vs. EIRL
Often compared with BBEU:
BBEU vs. BBAXBBEU vs. SCHYBBEU vs. SCHDBBEU vs. TTAIBBEU vs. VOOBBEU vs. FSPSXBBEU vs. DXJ

Return for Risk

EWI vs. BBEU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EWI
EWI Risk / Return Rank: 7070
Overall Rank
EWI Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
EWI Sortino Ratio Rank: 7070
Sortino Ratio Rank
EWI Omega Ratio Rank: 6666
Omega Ratio Rank
EWI Calmar Ratio Rank: 6969
Calmar Ratio Rank
EWI Martin Ratio Rank: 7373
Martin Ratio Rank
BBEU
BBEU Risk / Return Rank: 5454
Overall Rank
BBEU Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
BBEU Sortino Ratio Rank: 5757
Sortino Ratio Rank
BBEU Omega Ratio Rank: 5353
Omega Ratio Rank
BBEU Calmar Ratio Rank: 4949
Calmar Ratio Rank
BBEU Martin Ratio Rank: 5757
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.

EWI vs. BBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Italy ETF (EWI) and JPMorgan BetaBuilders Europe ETF (BBEU). 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.

EWIBBEUDifference
Sharpe ratioReturn per unit of total volatility
1.87
1.56

+0.30

Sortino ratioReturn per unit of downside risk
2.58
2.25

+0.33

Omega ratioGain probability vs. loss probability

1.32

1.27

+0.04

Calmar ratioReturn relative to maximum drawdown

2.73

2.03

+0.70

Martin ratioReturn relative to average drawdown

10.23

7.70

+2.53

EWI vs. BBEU - Sharpe Ratio Comparison

The current EWI Sharpe Ratio is 1.87, which is comparable to the BBEU Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of EWI and BBEU, 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

EWI vs. BBEU - Drawdown Comparison

The maximum EWI drawdown since its inception was -70.38%, which is greater than BBEU's maximum drawdown of -36.27%. Use the drawdown chart below to compare losses from any high point for EWI and BBEU.

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Drawdown Indicators

EWIBBEUDifference

Max Drawdown

Largest peak-to-trough decline

-70.38%

-36.27%

-34.11%

Max Drawdown (1Y)

Largest decline over 1 year

-12.48%

-12.23%

-0.25%

Max Drawdown (3Y)

Largest decline over 3 years

-16.80%

-14.23%

-2.57%

Max Drawdown (5Y)

Largest decline over 5 years

-35.25%

-31.08%

-4.17%

Max Drawdown (10Y)

Largest decline over 10 years

-43.00%

—

—

Current Drawdown

Current decline from peak

-0.03%

-0.05%

+0.02%

Average Drawdown

Average peak-to-trough decline

-28.78%

-6.03%

-22.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.32%

3.22%

+0.10%

Volatility

EWI vs. BBEU - Volatility Comparison

iShares MSCI Italy ETF (EWI) has a higher volatility of 4.56% compared to JPMorgan BetaBuilders Europe ETF (BBEU) at 3.91%. This indicates that EWI's price experiences larger fluctuations and is considered to be riskier than BBEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWIBBEUDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.56%

3.91%

+0.65%

Volatility (6M)

Calculated over the trailing 6-month period

15.66%

13.84%

+1.82%

Volatility (1Y)

Calculated over the trailing 1-year period

18.27%

15.90%

+2.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.12%

17.58%

+3.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.50%

19.25%

+3.25%

EWI vs. BBEU - Expense Ratio Comparison

EWI has a 0.50% expense ratio, which is higher than BBEU's 0.09% expense ratio.

Dividends

EWI vs. BBEU - Dividend Comparison

EWI's dividend yield for the trailing twelve months is around 2.97%, more than BBEU's 2.84% yield.

PositionTTM20252024202320222021202020192018201720162015
BBEU
JPMorgan BetaBuilders Europe ETF		2.84%2.83%4.16%2.94%4.72%2.63%2.29%3.24%0.49%0.00%0.00%0.00%
EWI
iShares MSCI Italy ETF		2.97%2.80%4.07%3.40%4.57%2.63%1.66%3.80%4.71%2.19%3.64%2.31%

Frequently Asked Questions

EWI and BBEU have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWI has higher volatility (4.56%) compared to BBEU (3.91%). In terms of maximum drawdown, EWI dropped -70.38% vs BBEU's -36.27%.

On 5-year performance, EWI leads with 18.14% vs 9.88% for BBEU. On fees, BBEU is cheaper at 0.09% per year. On volatility, BBEU has been the lower-risk option at 3.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EWI has performed better with a 18.14% return vs 9.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BBEU is cheaper with a 0.09% expense ratio, compared with 0.50% for EWI.

EWI has the higher dividend yield at 2.97%, compared with 2.84% for BBEU.

EWI tracks MSCI Italy 25/50 Index (Net), while BBEU tracks Morningstar Developed Europe Target Market Exposure Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.50% for EWI and 0.09% for BBEU.

EWI currently has the higher Sharpe Ratio (1.87 vs 1.56), 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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