EWM vs. IDX

Last updated Aug 4, 2026

EWM (iShares MSCI Malaysia ETF) and IDX (VanEck Vectors Indonesia Index ETF) are both exchange-traded funds - EWM is a Asia Pacific Equities fund tracking the MSCI Malaysia Index, while IDX is a Indonesia Equities fund tracking the MVIS Indonesia Index. Both are passively managed. Over the past 10 years, EWM returned 2.51%/yr vs -5.23%/yr for IDX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. EWM charges 0.49%/yr vs 0.57%/yr for IDX.

Performance

EWM vs. IDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Malaysia ETF (EWM) and VanEck Vectors Indonesia Index ETF (IDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EWM achieves a 4.87% return, which is significantly higher than IDX's -33.62% return. Over the past 10 years, EWM has outperformed IDX with an annualized return of 2.51%, while IDX has yielded a comparatively lower -5.23% annualized return.

EWM

• 1D: 0.11%
• 1M: 4.23%
• 6M: -2.14%
• YTD: 4.87%
• 1Y: 21.56%
• 3Y*: 13.59%
• 5Y*: 6.70%
• 10Y*: 2.51%
• ALL TIME*: 1.91%

IDX

• 1D: 0.64%
• 1M: 9.05%
• 6M: -27.51%
• YTD: -33.62%
• 1Y: -26.86%
• 3Y*: -12.88%
• 5Y*: -7.01%
• 10Y*: -5.23%
• ALL TIME*: 3.76%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EWM iShares MSCI Malaysia ETF	$7.74M	$6.46M	$7.58M
IDX VanEck Vectors Indonesia Index ETF	$1.10M	$722.78K	$941.75K

EWM vs. IDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWM iShares MSCI Malaysia ETF	4.87%	15.74%	19.46%	-3.61%	-6.00%	-7.40%	3.12%	-1.41%	-6.28%	24.25%
IDX VanEck Vectors Indonesia Index ETF	-33.62%	13.83%	-9.75%	1.98%	-9.40%	-2.59%	-7.45%	6.26%	-10.46%	19.24%

Correlation

The correlation between EWM and IDX is 0.36, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.36
Correlation (3Y) Balances recent behavior with more history.	0.40
Correlation (5Y) Shows whether the relationship held over a longer period.	0.42
Correlation (10Y) Provides a long-term view across more market conditions.	0.51
Correlation (All Time) Calculated using the full available price history since Jan 20, 2009	0.59

Over the past year, the correlation between EWM and IDX has dropped to 0.36 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

EWM vs. IDX - Sectors Allocation Comparison

Sectors	EWM	IDX
Financial Services	51.8%	27.3%
Utilities	10.8%	4.2%
Industrials	9.9%	13.0%
Basic Materials	8.8%	20.9%
Consumer Defensive	7.3%	10.1%
Communication Services	5.3%	8.3%
Healthcare	3.1%	1.8%
Energy	2.9%	11.0%
Consumer Cyclical	1.1%	1.5%
Real Estate	-	1.9%
Technology	-	0.2%

Return for Risk

EWM vs. IDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EWM

EWM Risk / Return Rank: 57
EWM Sharpe Ratio Rank: 63
EWM Sortino Ratio Rank: 62
EWM Omega Ratio Rank: 58
EWM Calmar Ratio Rank: 55
EWM Martin Ratio Rank: 46

IDX

IDX Risk / Return Rank: 3
IDX Sharpe Ratio Rank: 2
IDX Sortino Ratio Rank: 3
IDX Omega Ratio Rank: 2
IDX Calmar Ratio Rank: 4
IDX Martin Ratio Rank: 2

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EWM vs. IDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Malaysia ETF (EWM) and VanEck Vectors Indonesia Index ETF (IDX). 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.

	EWM	IDX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	-0.95	+2.48
Sortino ratio: Return per unit of downside risk	2.17	-1.23	+3.40
Omega ratio: Gain probability vs. loss probability	1.26	0.84	+0.42
Calmar ratio: Return relative to maximum drawdown	2.04	-0.61	+2.65
Martin ratio: Return relative to average drawdown	5.39	-1.34	+6.73

EWM vs. IDX - Sharpe Ratio Comparison

The current EWM Sharpe Ratio is 1.54, which is higher than the IDX Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of EWM and IDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EWM vs. IDX - Drawdown Comparison

The maximum EWM drawdown since its inception was -89.19%, which is greater than IDX's maximum drawdown of -63.14%. Use the drawdown chart below to compare losses from any high point for EWM and IDX.

Drawdown Indicators

	EWM	IDX	Difference
Max Drawdown Largest peak-to-trough decline	-89.19%	-63.14%	-26.05%
Max Drawdown (1Y) Largest decline over 1 year	-10.61%	-44.52%	+33.91%
Max Drawdown (3Y) Largest decline over 3 years	-21.31%	-46.73%	+25.42%
Max Drawdown (5Y) Largest decline over 5 years	-22.76%	-51.25%	+28.49%
Max Drawdown (10Y) Largest decline over 10 years	-43.81%	-59.11%	+15.30%
Current Drawdown Current decline from peak	-7.32%	-54.98%	+47.66%
Average Drawdown Average peak-to-trough decline	-31.70%	-25.12%	-6.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	20.14%	-16.13%

Volatility

EWM vs. IDX - Volatility Comparison

The current volatility for iShares MSCI Malaysia ETF (EWM) is 3.61%, while VanEck Vectors Indonesia Index ETF (IDX) has a volatility of 7.49%. This indicates that EWM experiences smaller price fluctuations and is considered to be less risky than IDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWM	IDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	7.49%	-3.88%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	22.55%	-11.81%
Volatility (1Y) Calculated over the trailing 1-year period	14.14%	28.56%	-14.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.79%	21.31%	-7.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.16%	24.54%	-8.38%

EWM vs. IDX - Expense Ratio Comparison

EWM has a 0.49% expense ratio, which is lower than IDX's 0.57% expense ratio.

Dividends

EWM vs. IDX - Dividend Comparison

EWM's dividend yield for the trailing twelve months is around 3.55%, more than IDX's 3.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWM iShares MSCI Malaysia ETF	3.55%	3.41%	3.32%	3.47%	3.00%	6.48%	1.89%	2.91%	3.84%	5.58%	5.97%	37.54%
IDX VanEck Vectors Indonesia Index ETF	3.14%	2.08%	4.01%	3.62%	3.64%	1.08%	1.66%	2.21%	2.19%	1.85%	1.16%	2.43%

Frequently Asked Questions

Can I hold both EWM and IDX in my portfolio?

EWM and IDX 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.

Which is riskier, EWM or IDX?

IDX has higher volatility (7.49%) compared to EWM (3.61%). In terms of maximum drawdown, EWM dropped -89.19% vs IDX's -63.14%.

Which ETF is better, EWM or IDX?

On 10-year performance, EWM leads with 2.51% vs -5.23% for IDX. On fees, EWM is cheaper at 0.49% per year. On volatility, EWM has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWM or IDX?

Over the 10-year period, EWM has performed better with a 2.51% return vs -5.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWM or IDX?

EWM is cheaper with a 0.49% expense ratio, compared with 0.57% for IDX.

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

EWM has the higher dividend yield at 3.55%, compared with 3.14% for IDX.

What is the main difference between EWM and IDX?

EWM is categorized as Asia Pacific Equities, while IDX is Indonesia Equities. EWM tracks MSCI Malaysia Index, while IDX tracks MVIS Indonesia Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.49% for EWM and 0.57% for IDX.

Which has better risk-adjusted returns?

EWM currently has the higher Sharpe Ratio (1.53 vs -0.95), 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.