EWM vs. DVYA

Last updated Jun 4, 2026

EWM (iShares MSCI Malaysia ETF) and DVYA (iShares Asia/Pacific Dividend ETF) are both Asia Pacific Equities funds from iShares - EWM tracks the MSCI Malaysia Index while DVYA tracks the Dow Jones Asia/Pacific Select Dividend 30 Index. Both are passively managed. Over the past 10 years, EWM returned 2.59%/yr vs 7.30%/yr for DVYA. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 0.49% expense ratio.

Performance

EWM vs. DVYA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Malaysia ETF (EWM) and iShares Asia/Pacific Dividend ETF (DVYA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EWM achieves a 2.45% return, which is significantly lower than DVYA's 13.35% return. Over the past 10 years, EWM has underperformed DVYA with an annualized return of 2.59%, while DVYA has yielded a comparatively higher 7.30% annualized return.

EWM

• 1D: -2.37%
• 1M: -5.11%
• YTD: 2.45%
• 6M: 6.54%
• 1Y: 20.74%
• 3Y*: 14.49%
• 5Y*: 4.53%
• 10Y*: 2.59%

DVYA

• 1D: -0.86%
• 1M: 0.51%
• YTD: 13.35%
• 6M: 13.63%
• 1Y: 39.49%
• 3Y*: 21.73%
• 5Y*: 9.88%
• 10Y*: 7.30%

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

EWM vs. DVYA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWM iShares MSCI Malaysia ETF	2.45%	15.74%	19.46%	-3.61%	-6.00%	-7.40%	3.12%	-1.41%	-6.28%	24.25%
DVYA iShares Asia/Pacific Dividend ETF	13.35%	30.22%	6.05%	13.75%	-2.17%	3.41%	-9.61%	14.70%	-14.87%	16.99%

Correlation

The correlation between EWM and DVYA is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Feb 27, 2012	0.55

The correlation between EWM and DVYA has been stable across timeframes, ranging from 0.52 to 0.60 - a consistent structural relationship.

EWM vs. DVYA - Sectors Allocation Comparison

Sectors	EWM	DVYA
Financial Services	46.6%	30.9%
Industrials	11.1%	7.1%
Utilities	10.8%	4.5%
Basic Materials	8.9%	16.1%
Consumer Defensive	7.3%	5.2%
Communication Services	6.6%	4.7%
Energy	3.9%	5.0%
Healthcare	3.8%	3.5%
Consumer Cyclical	1.1%	10.9%
Real Estate	-	10.6%
Technology	-	1.6%

Return for Risk

EWM vs. DVYA — Risk / Return Rank

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

EWM

EWM Risk / Return Rank: 45
EWM Sharpe Ratio Rank: 42
EWM Sortino Ratio Rank: 41
EWM Omega Ratio Rank: 40
EWM Calmar Ratio Rank: 54
EWM Martin Ratio Rank: 49

DVYA

DVYA Risk / Return Rank: 85
DVYA Sharpe Ratio Rank: 89
DVYA Sortino Ratio Rank: 88
DVYA Omega Ratio Rank: 85
DVYA Calmar Ratio Rank: 84
DVYA Martin Ratio Rank: 82

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.

EWM vs. DVYA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Malaysia ETF (EWM) and iShares Asia/Pacific Dividend ETF (DVYA). 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.

	EWM	DVYA	Difference
Sharpe ratio Return per unit of total volatility	1.49	3.05	-1.56
Sortino ratio Return per unit of downside risk	2.09	4.06	-1.98
Omega ratio Gain probability vs. loss probability	1.26	1.53	-0.27
Calmar ratio Return relative to maximum drawdown	2.65	4.59	-1.94
Martin ratio Return relative to average drawdown	8.22	16.66	-8.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWM vs. DVYA - Sharpe Ratio Comparison

The current EWM Sharpe Ratio is 1.49, which is lower than the DVYA Sharpe Ratio of 3.05. The chart below compares the historical Sharpe Ratios of EWM and DVYA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EWM	DVYA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	3.05	-1.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.66	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	0.42	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.30	-0.24

Drawdowns

EWM vs. DVYA - Drawdown Comparison

The maximum EWM drawdown since its inception was -89.19%, which is greater than DVYA's maximum drawdown of -45.61%. Use the drawdown chart below to compare losses from any high point for EWM and DVYA.

Drawdown Indicators

	EWM	DVYA	Difference
Max Drawdown Largest peak-to-trough decline	-89.19%	-45.61%	-43.58%
Max Drawdown (1Y) Largest decline over 1 year	-7.86%	-8.64%	+0.78%
Max Drawdown (3Y) Largest decline over 3 years	-21.31%	-19.15%	-2.16%
Max Drawdown (5Y) Largest decline over 5 years	-22.76%	-25.37%	+2.61%
Max Drawdown (10Y) Largest decline over 10 years	-43.81%	-45.61%	+1.80%
Current Drawdown Current decline from peak	-9.46%	-3.11%	-6.35%
Average Drawdown Average peak-to-trough decline	-31.82%	-10.06%	-21.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	2.38%	+0.15%

Volatility

EWM vs. DVYA - Volatility Comparison

iShares MSCI Malaysia ETF (EWM) has a higher volatility of 4.15% compared to iShares Asia/Pacific Dividend ETF (DVYA) at 3.94%. This indicates that EWM's price experiences larger fluctuations and is considered to be riskier than DVYA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWM	DVYA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	3.94%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	10.86%	10.44%	+0.42%
Volatility (1Y) Calculated over the trailing 1-year period	13.99%	13.00%	+0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.70%	15.08%	-1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.29%	17.55%	-1.26%

EWM vs. DVYA - Expense Ratio Comparison

Both EWM and DVYA have an expense ratio of 0.49%.

Dividends

EWM vs. DVYA - Dividend Comparison

EWM's dividend yield for the trailing twelve months is around 3.33%, less than DVYA's 4.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVYA iShares Asia/Pacific Dividend ETF	4.33%	4.71%	5.97%	6.48%	7.29%	5.81%	3.66%	5.52%	6.24%	4.74%	4.79%	5.33%
EWM iShares MSCI Malaysia ETF	3.33%	3.41%	3.32%	3.47%	3.00%	6.48%	1.89%	2.91%	3.84%	5.58%	5.97%	37.54%

Frequently Asked Questions

Can I hold both EWM and DVYA in my portfolio?

EWM and DVYA have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWM or DVYA?

EWM has higher volatility (4.15%) compared to DVYA (3.94%). In terms of maximum drawdown, EWM dropped -89.19% vs DVYA's -45.61%.

Which ETF is better, EWM or DVYA?

On 10-year performance, DVYA leads with 7.30% vs 2.59% for EWM. Both ETFs have the same 0.49% expense ratio. On volatility, DVYA has been the lower-risk option at 3.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWM or DVYA?

Over the 10-year period, DVYA has performed better with a 7.30% return vs 2.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWM or DVYA?

EWM and DVYA have the same expense ratio: 0.49% per year.

Which ETF pays a higher dividend yield, EWM or DVYA?

DVYA has the higher dividend yield at 4.33%, compared with 3.33% for EWM.

What is the main difference between EWM and DVYA?

EWM tracks MSCI Malaysia Index, while DVYA tracks Dow Jones Asia/Pacific Select Dividend 30 Index.

Which has better risk-adjusted returns?

DVYA currently has the higher Sharpe Ratio (3.05 vs 1.49), 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.