EWL vs. IBIT
EWL (iShares MSCI Switzerland ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - EWL is a Europe Equities fund tracking the MSCI Switzerland Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, EWL returned 17.04% vs -39.82% for IBIT. At a 0.21 correlation, their price movements are largely independent. EWL charges 0.50%/yr vs 0.25%/yr for IBIT.
Performance
EWL vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, EWL achieves a 4.35% return, which is significantly higher than IBIT's -28.88% return.
EWL
- 1D
- 0.38%
- 1M
- -0.12%
- YTD
- 4.35%
- 6M
- 3.59%
- 1Y
- 17.04%
- 3Y*
- 12.55%
- 5Y*
- 6.65%
- 10Y*
- 10.25%
IBIT
- 1D
- -3.26%
- 1M
- -17.81%
- YTD
- -28.88%
- 6M
- -28.88%
- 1Y
- -39.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EWL vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EWL iShares MSCI Switzerland ETF | 4.35% | 32.92% | -2.14% |
IBIT iShares Bitcoin Trust ETF | -28.88% | -6.41% | 89.87% |
Correlation
The correlation between EWL and IBIT is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.21 |
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Return for Risk
EWL vs. IBIT — Risk / Return Rank
EWL
IBIT
EWL vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Switzerland ETF (EWL) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.98 | ||
| Sortino ratioReturn per unit of downside risk | +2.86 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.86 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | -0.77 | +2.04 |
| Martin ratioReturn relative to average drawdown | 4.04 | -1.30 | +5.34 |
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Drawdowns
EWL vs. IBIT - Drawdown Comparison
The maximum EWL drawdown since its inception was -51.62%, roughly equal to the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for EWL and IBIT.
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Drawdown Indicators
| EWL | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.62% | -52.11% | +0.49% |
Max Drawdown (1Y)Largest decline over 1 year | -13.48% | -52.11% | +38.63% |
Max Drawdown (3Y)Largest decline over 3 years | -13.48% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.99% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.99% | — | — |
Current DrawdownCurrent decline from peak | -3.86% | -50.47% | +46.61% |
Average DrawdownAverage peak-to-trough decline | -11.08% | -16.85% | +5.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.23% | 30.58% | -26.35% |
Volatility
EWL vs. IBIT - Volatility Comparison
The current volatility for iShares MSCI Switzerland ETF (EWL) is 4.71%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.18%. This indicates that EWL experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWL | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.71% | 13.18% | -8.47% |
Volatility (6M)Calculated over the trailing 6-month period | 12.64% | 34.64% | -22.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.86% | 44.31% | -28.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.12% | 50.22% | -34.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.30% | 50.22% | -33.92% |
EWL vs. IBIT - Expense Ratio Comparison
EWL has a 0.50% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
EWL vs. IBIT - Dividend Comparison
EWL's dividend yield for the trailing twelve months is around 1.77%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWL iShares MSCI Switzerland ETF | 1.77% | 1.71% | 2.21% | 2.12% | 2.04% | 1.73% | 1.45% | 1.85% | 2.56% | 2.05% | 2.75% | 2.58% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EWL and IBIT have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (13.18%) compared to EWL (4.71%). In terms of maximum drawdown, EWL dropped -51.62% vs IBIT's -52.11%.
On 1-year performance, EWL leads with 17.04% vs -39.82% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, EWL has been the lower-risk option at 4.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EWL has performed better with a 17.04% return vs -39.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.50% for EWL.
EWL has the higher dividend yield at 1.77%, compared with 0.00% for IBIT.
EWL is categorized as Europe Equities, while IBIT is Cryptocurrency. EWL tracks MSCI Switzerland Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.50% for EWL and 0.25% for IBIT.
EWL currently has the higher Sharpe Ratio (1.08 vs -0.90), 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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