EWL vs. FXAIX
EWL (iShares MSCI Switzerland ETF) and FXAIX (Fidelity 500 Index Fund) are both funds - EWL is a Europe Equities fund tracking the MSCI Switzerland Index, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, EWL returned 10.14%/yr vs 15.44%/yr for FXAIX. A 0.66 correlation means they provide meaningful diversification when combined. EWL charges 0.50%/yr vs 0.02%/yr for FXAIX.
Performance
EWL vs. FXAIX - 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 FXAIX's 8.59% return. Over the past 10 years, EWL has underperformed FXAIX with an annualized return of 10.14%, while FXAIX has yielded a comparatively higher 15.44% 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%
FXAIX
- 1D
- 1.76%
- 1M
- -0.55%
- YTD
- 8.59%
- 6M
- 8.94%
- 1Y
- 23.79%
- 3Y*
- 21.06%
- 5Y*
- 13.34%
- 10Y*
- 15.44%
EWL vs. FXAIX - 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% |
FXAIX Fidelity 500 Index Fund | 8.59% | 17.84% | 25.01% | 26.29% | -18.14% | 28.71% | 18.42% | 31.48% | -4.43% | 21.82% |
Correlation
The correlation between EWL and FXAIX is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since May 4, 2011 | 0.66 |
The correlation between EWL and FXAIX shifts across timeframes, from 0.51 (3 years) to 0.66 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EWL vs. FXAIX — Risk / Return Rank
EWL
FXAIX
EWL vs. FXAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Switzerland ETF (EWL) and Fidelity 500 Index Fund (FXAIX). 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 | FXAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.36 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.01 | 2.74 | -1.73 |
| Martin ratioReturn relative to average drawdown | 3.24 | 12.46 | -9.21 |
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Drawdowns
EWL vs. FXAIX - Drawdown Comparison
The maximum EWL drawdown since its inception was -51.62%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for EWL and FXAIX.
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Drawdown Indicators
| EWL | FXAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.62% | -33.79% | -17.83% |
Max Drawdown (1Y)Largest decline over 1 year | -13.48% | -8.89% | -4.59% |
Max Drawdown (3Y)Largest decline over 3 years | -13.48% | -18.76% | +5.28% |
Max Drawdown (5Y)Largest decline over 5 years | -28.99% | -24.50% | -4.49% |
Max Drawdown (10Y)Largest decline over 10 years | -28.99% | -33.79% | +4.80% |
Current DrawdownCurrent decline from peak | -3.63% | -2.79% | -0.84% |
Average DrawdownAverage peak-to-trough decline | -11.08% | -3.79% | -7.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.22% | 1.95% | +2.27% |
Volatility
EWL vs. FXAIX - Volatility Comparison
iShares MSCI Switzerland ETF (EWL) has a higher volatility of 5.12% compared to Fidelity 500 Index Fund (FXAIX) at 4.44%. This indicates that EWL's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWL | FXAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.12% | 4.44% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 12.70% | 9.70% | +3.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.09% | 12.37% | +3.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 16.99% | -0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.47% | 18.10% | -1.63% |
EWL vs. FXAIX - Expense Ratio Comparison
EWL has a 0.50% expense ratio, which is higher than FXAIX's 0.02% expense ratio.
Dividends
EWL vs. FXAIX - Dividend Comparison
EWL's dividend yield for the trailing twelve months is around 1.63%, more than FXAIX's 1.06% 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% |
FXAIX Fidelity 500 Index Fund | 1.06% | 1.11% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% |
Frequently Asked Questions
EWL and FXAIX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWL has higher volatility (5.12%) compared to FXAIX (4.44%). In terms of maximum drawdown, EWL dropped -51.62% vs FXAIX's -33.79%.
FXAIX currently has the higher Sharpe Ratio (1.97 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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