EWL vs. BARIX
EWL (iShares MSCI Switzerland ETF) and BARIX (Baron Asset Fund Institutional Class) are both funds - EWL is a Europe Equities fund tracking the MSCI Switzerland Index, while BARIX is a Mid Cap Growth Equities fund managed by Baron Capital Group. Over the past 10 years, EWL returned 10.14%/yr vs 11.45%/yr for BARIX. A 0.62 correlation means they provide meaningful diversification when combined. EWL charges 0.50%/yr vs 1.03%/yr for BARIX.
Performance
EWL vs. BARIX - Performance Comparison
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Returns By Period
In the year-to-date period, EWL achieves a 4.60% return, which is significantly higher than BARIX's 0.84% return. Over the past 10 years, EWL has underperformed BARIX with an annualized return of 10.14%, while BARIX has yielded a comparatively higher 11.45% annualized return.
EWL
- 1D
- -0.30%
- 1M
- 1.55%
- YTD
- 4.60%
- 6M
- 7.45%
- 1Y
- 13.57%
- 3Y*
- 12.47%
- 5Y*
- 6.50%
- 10Y*
- 10.14%
BARIX
- 1D
- 0.43%
- 1M
- 9.83%
- YTD
- 0.84%
- 6M
- 0.23%
- 1Y
- 4.48%
- 3Y*
- 10.21%
- 5Y*
- 2.48%
- 10Y*
- 11.45%
EWL vs. BARIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWL iShares MSCI Switzerland ETF | 4.60% | 32.92% | -2.80% | 17.67% | -18.89% | 20.20% | 11.80% | 31.58% | -9.21% | 23.34% |
BARIX Baron Asset Fund Institutional Class | 0.84% | 8.17% | 10.64% | 17.36% | -25.87% | 14.17% | 33.32% | 37.98% | 0.13% | 26.55% |
Correlation
The correlation between EWL and BARIX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since May 29, 2009 | 0.62 |
The correlation between EWL and BARIX shifts across timeframes, from 0.46 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EWL vs. BARIX — Risk / Return Rank
EWL
BARIX
EWL vs. BARIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Switzerland ETF (EWL) and Baron Asset Fund Institutional Class (BARIX). 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.
| EWL | BARIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.07 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.01 | 0.44 | +0.57 |
| Martin ratioReturn relative to average drawdown | 3.24 | 0.91 | +2.33 |
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Drawdowns
EWL vs. BARIX - Drawdown Comparison
The maximum EWL drawdown since its inception was -51.62%, which is greater than BARIX's maximum drawdown of -37.44%. Use the drawdown chart below to compare losses from any high point for EWL and BARIX.
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Drawdown Indicators
| EWL | BARIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.62% | -37.44% | -14.18% |
Max Drawdown (1Y)Largest decline over 1 year | -13.48% | -10.68% | -2.80% |
Max Drawdown (3Y)Largest decline over 3 years | -13.48% | -17.78% | +4.30% |
Max Drawdown (5Y)Largest decline over 5 years | -28.99% | -37.44% | +8.45% |
Max Drawdown (10Y)Largest decline over 10 years | -28.99% | -37.44% | +8.45% |
Current DrawdownCurrent decline from peak | -3.63% | -1.45% | -2.18% |
Average DrawdownAverage peak-to-trough decline | -11.08% | -6.73% | -4.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.22% | 5.16% | -0.94% |
Volatility
EWL vs. BARIX - Volatility Comparison
The current volatility for iShares MSCI Switzerland ETF (EWL) is 5.12%, while Baron Asset Fund Institutional Class (BARIX) has a volatility of 7.48%. This indicates that EWL experiences smaller price fluctuations and is considered to be less risky than BARIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWL | BARIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.12% | 7.48% | -2.36% |
Volatility (6M)Calculated over the trailing 6-month period | 12.70% | 11.11% | +1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.09% | 16.36% | -0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 19.80% | -3.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.47% | 19.96% | -3.49% |
EWL vs. BARIX - Expense Ratio Comparison
EWL has a 0.50% expense ratio, which is lower than BARIX's 1.03% expense ratio.
Dividends
EWL vs. BARIX - Dividend Comparison
EWL's dividend yield for the trailing twelve months is around 1.63%, less than BARIX's 10.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BARIX Baron Asset Fund Institutional Class | 10.50% | 10.59% | 17.88% | 3.28% | 0.01% | 7.26% | 2.92% | 1.70% | 7.14% | 7.01% | 4.74% | 11.23% |
EWL iShares MSCI Switzerland ETF | 1.63% | 1.71% | 2.21% | 2.12% | 2.04% | 1.73% | 1.45% | 1.85% | 2.56% | 2.05% | 2.75% | 2.58% |
Frequently Asked Questions
EWL and BARIX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BARIX has higher volatility (7.48%) compared to EWL (5.12%). In terms of maximum drawdown, EWL dropped -51.62% vs BARIX's -37.44%.
EWL currently has the higher Sharpe Ratio (0.85 vs 0.29), 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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