EWL vs. FOCPX
EWL (iShares MSCI Switzerland ETF) and FOCPX (Fidelity OTC Portfolio) are both funds - EWL is a Europe Equities fund tracking the MSCI Switzerland Index, while FOCPX is a Large Cap Growth Equities fund actively managed by Fidelity. EWL is passively managed, while FOCPX is actively managed. Over the past 10 years, EWL returned 10.14%/yr vs 22.49%/yr for FOCPX. At a 0.48 correlation, their price movements are largely independent. EWL charges 0.50%/yr vs 0.73%/yr for FOCPX.
Performance
EWL vs. FOCPX - Performance Comparison
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Returns By Period
In the year-to-date period, EWL achieves a 4.60% return, which is significantly lower than FOCPX's 22.78% return. Over the past 10 years, EWL has underperformed FOCPX with an annualized return of 10.14%, while FOCPX has yielded a comparatively higher 22.49% 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%
FOCPX
- 1D
- 2.86%
- 1M
- -0.60%
- YTD
- 22.78%
- 6M
- 24.57%
- 1Y
- 51.96%
- 3Y*
- 32.72%
- 5Y*
- 17.85%
- 10Y*
- 22.49%
EWL vs. FOCPX - 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% |
FOCPX Fidelity OTC Portfolio | 22.78% | 22.21% | 38.95% | 42.64% | -32.08% | 24.94% | 46.75% | 39.20% | -3.30% | 38.61% |
Correlation
The correlation between EWL and FOCPX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 1996 | 0.48 |
The correlation between EWL and FOCPX shifts across timeframes, from 0.35 (3 years) to 0.54 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
EWL vs. FOCPX — Risk / Return Rank
EWL
FOCPX
EWL vs. FOCPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Switzerland ETF (EWL) and Fidelity OTC Portfolio (FOCPX). 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 | FOCPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.95 | ||
| Sortino ratioReturn per unit of downside risk | -2.16 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.47 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.01 | 4.68 | -3.66 |
| Martin ratioReturn relative to average drawdown | 3.24 | 19.87 | -16.63 |
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Drawdowns
EWL vs. FOCPX - Drawdown Comparison
The maximum EWL drawdown since its inception was -51.62%, smaller than the maximum FOCPX drawdown of -70.25%. Use the drawdown chart below to compare losses from any high point for EWL and FOCPX.
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Drawdown Indicators
| EWL | FOCPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.62% | -70.25% | +18.63% |
Max Drawdown (1Y)Largest decline over 1 year | -13.48% | -11.29% | -2.19% |
Max Drawdown (3Y)Largest decline over 3 years | -13.48% | -24.82% | +11.34% |
Max Drawdown (5Y)Largest decline over 5 years | -28.99% | -37.05% | +8.06% |
Max Drawdown (10Y)Largest decline over 10 years | -28.99% | -37.05% | +8.06% |
Current DrawdownCurrent decline from peak | -3.63% | -4.42% | +0.79% |
Average DrawdownAverage peak-to-trough decline | -11.08% | -17.00% | +5.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.22% | 2.65% | +1.57% |
Volatility
EWL vs. FOCPX - Volatility Comparison
The current volatility for iShares MSCI Switzerland ETF (EWL) is 5.12%, while Fidelity OTC Portfolio (FOCPX) has a volatility of 8.13%. This indicates that EWL experiences smaller price fluctuations and is considered to be less risky than FOCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWL | FOCPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.12% | 8.13% | -3.01% |
Volatility (6M)Calculated over the trailing 6-month period | 12.70% | 15.35% | -2.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.09% | 18.86% | -2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 22.83% | -6.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.47% | 22.51% | -6.04% |
EWL vs. FOCPX - Expense Ratio Comparison
EWL has a 0.50% expense ratio, which is lower than FOCPX's 0.73% expense ratio.
Dividends
EWL vs. FOCPX - Dividend Comparison
EWL's dividend yield for the trailing twelve months is around 1.63%, less than FOCPX's 6.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FOCPX Fidelity OTC Portfolio | 6.33% | 7.78% | 16.76% | 0.05% | 4.06% | 11.53% | 6.23% | 7.58% | 7.93% | 4.86% | 3.24% | 5.41% |
Frequently Asked Questions
EWL and FOCPX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FOCPX has higher volatility (8.13%) compared to EWL (5.12%). In terms of maximum drawdown, EWL dropped -51.62% vs FOCPX's -70.25%.
FOCPX currently has the higher Sharpe Ratio (2.80 vs 0.85), 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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