EWL vs. FLEU

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI Switzerland ETF (EWL) and Franklin FTSE Eurozone ETF (FLEU).

EWL and FLEU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWL is a passively managed fund by iShares that tracks the performance of the MSCI Switzerland Index. It was launched on Mar 12, 1996. FLEU is a passively managed fund by Franklin Templeton that tracks the performance of the FTSE Developed Eurozone Index - Benchmark TR Net. It was launched on Nov 2, 2017. Both EWL and FLEU 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

EWL vs. FLEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Switzerland ETF (EWL) and Franklin FTSE Eurozone ETF (FLEU). The values are adjusted to include any dividend payments, if applicable.

EWL vs. FLEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWL iShares MSCI Switzerland ETF	-1.92%	32.92%	-2.80%	17.67%	-18.89%	20.20%	11.80%	31.58%	-9.21%	2.80%
FLEU Franklin FTSE Eurozone ETF	-2.81%	41.56%	2.26%	16.21%	-9.14%	23.27%	0.95%	26.94%	-8.54%	-1.24%

Returns By Period

In the year-to-date period, EWL achieves a -1.92% return, which is significantly higher than FLEU's -2.81% return.

EWL

• 1D: 2.24%
• 1M: -9.63%
• YTD: -1.92%
• 6M: 6.46%
• 1Y: 15.70%
• 3Y*: 11.32%
• 5Y*: 7.64%
• 10Y*: 9.38%

FLEU

• 1D: 3.62%
• 1M: -9.14%
• YTD: -2.81%
• 6M: 1.86%
• 1Y: 21.11%
• 3Y*: 14.33%
• 5Y*: 10.90%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EWL vs. FLEU - Expense Ratio Comparison

EWL has a 0.50% expense ratio, which is higher than FLEU's 0.09% expense ratio.

EWL

iShares MSCI Switzerland ETF

FLEU

Franklin FTSE Eurozone ETF

Return for Risk

EWL vs. FLEU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EWL

EWL Risk / Return Rank: 49
EWL Sharpe Ratio Rank: 54
EWL Sortino Ratio Rank: 54
EWL Omega Ratio Rank: 50
EWL Calmar Ratio Rank: 44
EWL Martin Ratio Rank: 45

FLEU

FLEU Risk / Return Rank: 64
FLEU Sharpe Ratio Rank: 65
FLEU Sortino Ratio Rank: 68
FLEU Omega Ratio Rank: 64
FLEU Calmar Ratio Rank: 61
FLEU Martin Ratio Rank: 60

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EWL vs. FLEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Switzerland ETF (EWL) and Franklin FTSE Eurozone ETF (FLEU). 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.

	EWL	FLEU	Difference
Sharpe ratio Return per unit of total volatility	0.93	1.10	-0.17
Sortino ratio Return per unit of downside risk	1.38	1.66	-0.28
Omega ratio Gain probability vs. loss probability	1.18	1.23	-0.05
Calmar ratio Return relative to maximum drawdown	1.05	1.48	-0.43
Martin ratio Return relative to average drawdown	4.08	5.76	-1.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWL vs. FLEU - Sharpe Ratio Comparison

The current EWL Sharpe Ratio is 0.93, which is comparable to the FLEU Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of EWL and FLEU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EWL	FLEU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	1.10	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.69	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.52	-0.17

Correlation

The correlation between EWL and FLEU is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

EWL vs. FLEU - Dividend Comparison

EWL's dividend yield for the trailing twelve months is around 1.74%, less than FLEU's 2.29% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWL iShares MSCI Switzerland ETF	1.74%	1.71%	2.21%	2.12%	2.04%	1.73%	1.45%	1.85%	2.56%	2.05%	2.75%	2.58%
FLEU Franklin FTSE Eurozone ETF	2.29%	2.22%	3.18%	3.25%	21.45%	3.03%	1.94%	6.06%	12.17%	0.07%	0.00%	0.00%

Drawdowns

EWL vs. FLEU - Drawdown Comparison

The maximum EWL drawdown since its inception was -51.62%, which is greater than FLEU's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for EWL and FLEU.

Drawdown Indicators

	EWL	FLEU	Difference
Max Drawdown Largest peak-to-trough decline	-51.62%	-33.94%	-17.68%
Max Drawdown (1Y) Largest decline over 1 year	-13.48%	-13.41%	-0.07%
Max Drawdown (5Y) Largest decline over 5 years	-28.99%	-18.67%	-10.32%
Max Drawdown (10Y) Largest decline over 10 years	-28.99%	—	—
Current Drawdown Current decline from peak	-9.63%	-9.92%	+0.29%
Average Drawdown Average peak-to-trough decline	-11.12%	-4.73%	-6.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	3.45%	+0.03%

Volatility

EWL vs. FLEU - Volatility Comparison

The current volatility for iShares MSCI Switzerland ETF (EWL) is 6.66%, while Franklin FTSE Eurozone ETF (FLEU) has a volatility of 8.86%. This indicates that EWL experiences smaller price fluctuations and is considered to be less risky than FLEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWL	FLEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.66%	8.86%	-2.20%
Volatility (6M) Calculated over the trailing 6-month period	10.81%	12.19%	-1.38%
Volatility (1Y) Calculated over the trailing 1-year period	16.95%	19.25%	-2.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.86%	15.91%	-0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.36%	18.16%	-1.80%