EWK vs. PTEU
EWK (iShares MSCI Belgium ETF) and PTEU (Pacer Trendpilot European Index ETF) are both Europe Equities funds - EWK tracks the MSCI Belgium Investable Market Index while PTEU tracks the Pacer Trendpilot European Index. Both are passively managed. Over the past 10 years, EWK returned 6.81%/yr vs 5.57%/yr for PTEU. A 0.61 correlation means they provide meaningful diversification when combined. EWK charges 0.49%/yr vs 0.65%/yr for PTEU.
Performance
EWK vs. PTEU - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EWK achieves a 9.69% return, which is significantly higher than PTEU's 8.42% return. Over the past 10 years, EWK has outperformed PTEU with an annualized return of 6.81%, while PTEU has yielded a comparatively lower 5.57% annualized return.
EWK
- 1D
- 0.14%
- 1M
- -2.82%
- 6M
- 5.95%
- YTD
- 9.69%
- 1Y
- 22.41%
- 3Y*
- 15.38%
- 5Y*
- 6.62%
- 10Y*
- 6.81%
PTEU
- 1D
- 0.84%
- 1M
- -0.20%
- 6M
- 5.43%
- YTD
- 8.42%
- 1Y
- 18.81%
- 3Y*
- 9.41%
- 5Y*
- 8.47%
- 10Y*
- 5.57%
EWK vs. PTEU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWK iShares MSCI Belgium ETF | 9.69% | 35.38% | 0.14% | 7.47% | -13.98% | 12.84% | 0.04% | 25.92% | -20.40% | 23.70% |
PTEU Pacer Trendpilot European Index ETF | 8.42% | 30.80% | -0.50% | 12.45% | -7.46% | 13.43% | -19.41% | 13.50% | -16.87% | 28.91% |
Correlation
The correlation between EWK and PTEU is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.61 |
The correlation between EWK and PTEU has been stable across timeframes, ranging from 0.61 to 0.71 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EWK vs. PTEU — Risk / Return Rank
EWK
PTEU
EWK vs. PTEU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Belgium ETF (EWK) and Pacer Trendpilot European Index ETF (PTEU). 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.
| EWK | PTEU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.20 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 1.47 | -0.02 |
| Martin ratioReturn relative to average drawdown | 5.15 | 5.08 | +0.07 |
Loading charts...
Drawdowns
EWK vs. PTEU - Drawdown Comparison
The maximum EWK drawdown since its inception was -74.10%, which is greater than PTEU's maximum drawdown of -35.45%. Use the drawdown chart below to compare losses from any high point for EWK and PTEU.
Loading charts...
Drawdown Indicators
| EWK | PTEU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.10% | -35.45% | -38.65% |
Max Drawdown (1Y)Largest decline over 1 year | -15.47% | -12.82% | -2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -15.64% | -15.04% | -0.60% |
Max Drawdown (5Y)Largest decline over 5 years | -33.24% | -15.04% | -18.20% |
Max Drawdown (10Y)Largest decline over 10 years | -42.80% | -35.45% | -7.35% |
Current DrawdownCurrent decline from peak | -3.70% | -1.34% | -2.36% |
Average DrawdownAverage peak-to-trough decline | -21.46% | -14.36% | -7.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.36% | 3.71% | +0.65% |
Volatility
EWK vs. PTEU - Volatility Comparison
The current volatility for iShares MSCI Belgium ETF (EWK) is 3.73%, while Pacer Trendpilot European Index ETF (PTEU) has a volatility of 3.96%. This indicates that EWK experiences smaller price fluctuations and is considered to be less risky than PTEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EWK | PTEU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.73% | 3.96% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 13.42% | 14.72% | -1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.75% | 17.22% | -1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.90% | 15.27% | +2.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.79% | 14.58% | +4.21% |
EWK vs. PTEU - Expense Ratio Comparison
EWK has a 0.49% expense ratio, which is lower than PTEU's 0.65% expense ratio.
Dividends
EWK vs. PTEU - Dividend Comparison
EWK's dividend yield for the trailing twelve months is around 1.87%, more than PTEU's 1.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWK iShares MSCI Belgium ETF | 1.87% | 1.73% | 3.25% | 2.09% | 2.58% | 3.64% | 1.66% | 2.77% | 2.78% | 2.91% | 1.75% | 2.06% |
PTEU Pacer Trendpilot European Index ETF | 1.77% | 1.92% | 3.49% | 2.74% | 0.69% | 1.55% | 0.00% | 3.43% | 1.86% | 0.60% | 0.00% | 0.00% |
Frequently Asked Questions
EWK and PTEU have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTEU has higher volatility (3.96%) compared to EWK (3.73%). In terms of maximum drawdown, EWK dropped -74.10% vs PTEU's -35.45%.
On 10-year performance, EWK leads with 6.81% vs 5.57% for PTEU. On fees, EWK is cheaper at 0.49% per year. On volatility, EWK has been the lower-risk option at 3.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EWK has performed better with a 6.81% return vs 5.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWK is cheaper with a 0.49% expense ratio, compared with 0.65% for PTEU.
EWK has the higher dividend yield at 1.87%, compared with 1.77% for PTEU.
EWK tracks MSCI Belgium Investable Market Index, while PTEU tracks Pacer Trendpilot European Index. They also come from different issuers: iShares and Pacer. Their fees differ too: 0.49% for EWK and 0.65% for PTEU.
EWK currently has the higher Sharpe Ratio (1.43 vs 1.10), 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.
Find the right allocation for EWK and PTEU
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer