EWK vs. FEP
Compare and contrast key facts about iShares MSCI Belgium ETF (EWK) and First Trust Europe AlphaDEX Fund (FEP).
EWK and FEP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWK is a passively managed fund by iShares that tracks the performance of the MSCI Belgium Investable Market Index. It was launched on Mar 12, 1996. FEP is a passively managed fund by First Trust that tracks the performance of the Defined Europe Index. It was launched on Apr 26, 2011. Both EWK and FEP 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
EWK vs. FEP - Performance Comparison
Loading graphics...
EWK vs. FEP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWK iShares MSCI Belgium ETF | 1.68% | 35.38% | 0.14% | 7.47% | -13.98% | 12.84% | 0.04% | 25.92% | -20.40% | 23.70% |
FEP First Trust Europe AlphaDEX Fund | 3.30% | 55.72% | 3.38% | 16.85% | -22.97% | 17.03% | 4.12% | 24.83% | -19.00% | 36.27% |
Returns By Period
In the year-to-date period, EWK achieves a 1.68% return, which is significantly lower than FEP's 3.30% return. Over the past 10 years, EWK has underperformed FEP with an annualized return of 6.00%, while FEP has yielded a comparatively higher 9.94% annualized return.
EWK
- 1D
- 1.64%
- 1M
- -5.03%
- YTD
- 1.68%
- 6M
- 5.18%
- 1Y
- 28.29%
- 3Y*
- 11.94%
- 5Y*
- 6.33%
- 10Y*
- 6.00%
FEP
- 1D
- 1.54%
- 1M
- -4.13%
- YTD
- 3.30%
- 6M
- 8.62%
- 1Y
- 40.34%
- 3Y*
- 21.59%
- 5Y*
- 9.91%
- 10Y*
- 9.94%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
EWK vs. FEP - Expense Ratio Comparison
EWK has a 0.49% expense ratio, which is lower than FEP's 0.80% expense ratio.
Return for Risk
EWK vs. FEP — Risk / Return Rank
EWK
FEP
EWK vs. FEP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Belgium ETF (EWK) and First Trust Europe AlphaDEX Fund (FEP). 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 | FEP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.77 | 2.08 | -0.31 |
Sortino ratioReturn per unit of downside risk | 2.38 | 2.66 | -0.28 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.41 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.79 | 3.31 | -1.52 |
Martin ratioReturn relative to average drawdown | 7.28 | 12.59 | -5.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| EWK | FEP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 2.08 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.51 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 0.48 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.32 | -0.07 |
Correlation
The correlation between EWK and FEP is 0.76, 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
EWK vs. FEP - Dividend Comparison
EWK's dividend yield for the trailing twelve months is around 1.71%, less than FEP's 3.17% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWK iShares MSCI Belgium ETF | 1.71% | 1.73% | 3.25% | 2.09% | 2.58% | 3.64% | 1.66% | 2.77% | 2.78% | 2.91% | 1.75% | 2.06% |
FEP First Trust Europe AlphaDEX Fund | 3.17% | 3.33% | 4.94% | 3.27% | 3.00% | 3.49% | 2.32% | 2.63% | 2.62% | 1.65% | 2.14% | 2.20% |
Drawdowns
EWK vs. FEP - Drawdown Comparison
The maximum EWK drawdown since its inception was -74.10%, which is greater than FEP's maximum drawdown of -46.05%. Use the drawdown chart below to compare losses from any high point for EWK and FEP.
Loading graphics...
Drawdown Indicators
| EWK | FEP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.10% | -46.05% | -28.05% |
Max Drawdown (1Y)Largest decline over 1 year | -15.47% | -12.31% | -3.16% |
Max Drawdown (5Y)Largest decline over 5 years | -35.22% | -38.99% | +3.77% |
Max Drawdown (10Y)Largest decline over 10 years | -42.80% | -46.05% | +3.25% |
Current DrawdownCurrent decline from peak | -10.08% | -6.38% | -3.70% |
Average DrawdownAverage peak-to-trough decline | -21.63% | -12.14% | -9.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.80% | 3.23% | +0.57% |
Volatility
EWK vs. FEP - Volatility Comparison
The current volatility for iShares MSCI Belgium ETF (EWK) is 7.57%, while First Trust Europe AlphaDEX Fund (FEP) has a volatility of 8.46%. This indicates that EWK experiences smaller price fluctuations and is considered to be less risky than FEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| EWK | FEP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.57% | 8.46% | -0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 10.86% | 12.63% | -1.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.03% | 19.48% | -3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.67% | 19.57% | -1.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.95% | 20.65% | -1.70% |