EWK vs. BUD
EWK (iShares MSCI Belgium ETF) is Europe Equities fund tracking the MSCI Belgium Investable Market Index, while BUD (Anheuser-Busch InBev SA/NV) is a stock. Over the past 10 years, EWK returned 6.17%/yr vs -2.62%/yr for BUD. A 0.73 correlation means they provide meaningful diversification when combined.
Performance
EWK vs. BUD - Performance Comparison
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Returns By Period
In the year-to-date period, EWK achieves a 9.09% return, which is significantly lower than BUD's 25.25% return. Over the past 10 years, EWK has outperformed BUD with an annualized return of 6.17%, while BUD has yielded a comparatively lower -2.62% annualized return.
EWK
- 1D
- -0.90%
- 1M
- 4.22%
- YTD
- 9.09%
- 6M
- 10.00%
- 1Y
- 22.69%
- 3Y*
- 16.49%
- 5Y*
- 5.76%
- 10Y*
- 6.17%
BUD
- 1D
- -1.91%
- 1M
- 8.53%
- YTD
- 25.25%
- 6M
- 30.24%
- 1Y
- 13.84%
- 3Y*
- 14.78%
- 5Y*
- 2.01%
- 10Y*
- -2.62%
EWK vs. BUD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWK iShares MSCI Belgium ETF | 9.09% | 35.38% | 0.14% | 7.47% | -13.98% | 12.84% | 0.04% | 25.92% | -20.40% | 23.70% |
BUD Anheuser-Busch InBev SA/NV | 25.25% | 30.33% | -21.37% | 9.04% | 0.09% | -12.66% | -13.97% | 27.69% | -38.79% | 9.62% |
Correlation
The correlation between EWK and BUD is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2009 | 0.73 |
The correlation between EWK and BUD shifts across timeframes, from 0.53 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EWK vs. BUD — Risk / Return Rank
EWK
BUD
EWK vs. BUD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Belgium ETF (EWK) and Anheuser-Busch InBev SA/NV (BUD). 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.
| EWK | BUD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.13 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 0.68 | +0.79 |
| Martin ratioReturn relative to average drawdown | 5.28 | 1.28 | +4.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EWK | BUD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | 0.53 | +0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.08 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | -0.09 | +0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.26 | -0.01 |
Drawdowns
EWK vs. BUD - Drawdown Comparison
The maximum EWK drawdown since its inception was -74.10%, which is greater than BUD's maximum drawdown of -70.02%. Use the drawdown chart below to compare losses from any high point for EWK and BUD.
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Drawdown Indicators
| EWK | BUD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.10% | -70.02% | -4.08% |
Max Drawdown (1Y)Largest decline over 1 year | -15.47% | -20.36% | +4.89% |
Max Drawdown (3Y)Largest decline over 3 years | -15.64% | -31.55% | +15.91% |
Max Drawdown (5Y)Largest decline over 5 years | -35.22% | -42.88% | +7.66% |
Max Drawdown (10Y)Largest decline over 10 years | -42.80% | -70.02% | +27.22% |
Current DrawdownCurrent decline from peak | -3.53% | -26.41% | +22.88% |
Average DrawdownAverage peak-to-trough decline | -21.54% | -23.45% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.30% | 10.84% | -6.54% |
Volatility
EWK vs. BUD - Volatility Comparison
The current volatility for iShares MSCI Belgium ETF (EWK) is 5.54%, while Anheuser-Busch InBev SA/NV (BUD) has a volatility of 10.32%. This indicates that EWK experiences smaller price fluctuations and is considered to be less risky than BUD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWK | BUD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.54% | 10.32% | -4.78% |
Volatility (6M)Calculated over the trailing 6-month period | 12.75% | 17.96% | -5.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.29% | 26.23% | -10.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.86% | 24.88% | -7.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.06% | 27.66% | -8.60% |
Dividends
EWK vs. BUD - Dividend Comparison
EWK's dividend yield for the trailing twelve months is around 1.59%, less than BUD's 1.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUD Anheuser-Busch InBev SA/NV | 1.70% | 1.91% | 1.74% | 1.28% | 0.88% | 0.98% | 0.79% | 2.45% | 5.15% | 3.63% | 5.41% | 3.21% |
EWK iShares MSCI Belgium ETF | 1.59% | 1.73% | 3.25% | 2.09% | 2.58% | 3.64% | 1.66% | 2.77% | 2.78% | 2.91% | 1.75% | 2.06% |
Frequently Asked Questions
EWK and BUD have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BUD has higher volatility (10.32%) compared to EWK (5.54%). In terms of maximum drawdown, EWK dropped -74.10% vs BUD's -70.02%.
EWK currently has the higher Sharpe Ratio (1.49 vs 0.53), 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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