EWN vs. EUDV

Last updated Jun 24, 2026

EWN (iShares MSCI Netherlands ETF) and EUDV (ProShares MSCI Europe Dividend Growers ETF) are both Europe Equities funds - EWN tracks the MSCI Netherlands Investable Market Index while EUDV tracks the MSCI Europe Dividend Masters Index. Both are passively managed. Over the past 10 years, EWN returned 14.24%/yr vs 5.53%/yr for EUDV. A 0.74 correlation means they provide meaningful diversification when combined. EWN charges 0.50%/yr vs 0.55%/yr for EUDV.

Performance

EWN vs. EUDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Netherlands ETF (EWN) and ProShares MSCI Europe Dividend Growers ETF (EUDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EWN achieves a 20.24% return, which is significantly higher than EUDV's 0.21% return. Over the past 10 years, EWN has outperformed EUDV with an annualized return of 14.24%, while EUDV has yielded a comparatively lower 5.53% annualized return.

EWN

• 1D: -3.91%
• 1M: 2.60%
• YTD: 20.24%
• 6M: 20.65%
• 1Y: 34.25%
• 3Y*: 21.10%
• 5Y*: 9.47%
• 10Y*: 14.24%

EUDV

• 1D: -0.40%
• 1M: -2.70%
• YTD: 0.21%
• 6M: 0.08%
• 1Y: -1.24%
• 3Y*: 7.37%
• 5Y*: 1.81%
• 10Y*: 5.53%

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

EWN vs. EUDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWN iShares MSCI Netherlands ETF	20.24%	34.87%	1.67%	22.08%	-24.43%	22.74%	23.23%	32.45%	-15.37%	33.73%
EUDV ProShares MSCI Europe Dividend Growers ETF	0.21%	14.05%	0.03%	20.41%	-24.87%	19.56%	5.81%	25.89%	-11.12%	21.57%

Correlation

The correlation between EWN and EUDV is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Sep 11, 2015	0.74

The correlation between EWN and EUDV shifts across timeframes, from 0.69 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.

EWN vs. EUDV - Sectors Allocation Comparison

Sectors	EWN	EUDV
Technology	34.6%	12.1%
Financial Services	17.9%	13.6%
Industrials	11.4%	20.5%
Consumer Defensive	10.1%	11.0%
Communication Services	9.6%	4.1%
Consumer Cyclical	5.9%	-
Basic Materials	5.1%	11.2%
Healthcare	2.5%	16.5%
Energy	2.0%	2.2%
Real Estate	0.7%	2.0%
Utilities	-	8.9%

Return for Risk

EWN vs. EUDV — Risk / Return Rank

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

EWN

EWN Risk / Return Rank: 53
EWN Sharpe Ratio Rank: 50
EWN Sortino Ratio Rank: 50
EWN Omega Ratio Rank: 47
EWN Calmar Ratio Rank: 57
EWN Martin Ratio Rank: 59

EUDV

EUDV Risk / Return Rank: 8
EUDV Sharpe Ratio Rank: 8
EUDV Sortino Ratio Rank: 7
EUDV Omega Ratio Rank: 7
EUDV Calmar Ratio Rank: 8
EUDV Martin Ratio Rank: 7

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.

EWN vs. EUDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Netherlands ETF (EWN) and ProShares MSCI Europe Dividend Growers ETF (EUDV). 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.

	EWN	EUDV	Difference
Sharpe ratio: Return per unit of total volatility	1.64	-0.09	+1.73
Sortino ratio: Return per unit of downside risk	2.33	-0.03	+2.36
Omega ratio: Gain probability vs. loss probability	1.29	1.00	+0.29
Calmar ratio: Return relative to maximum drawdown	2.60	-0.12	+2.72
Martin ratio: Return relative to average drawdown	9.83	-0.31	+10.14

EWN vs. EUDV - Sharpe Ratio Comparison

The current EWN Sharpe Ratio is 1.64, which is higher than the EUDV Sharpe Ratio of -0.09. The chart below compares the historical Sharpe Ratios of EWN and EUDV, 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

EWN vs. EUDV - Drawdown Comparison

The maximum EWN drawdown since its inception was -65.22%, which is greater than EUDV's maximum drawdown of -37.51%. Use the drawdown chart below to compare losses from any high point for EWN and EUDV.

Drawdown Indicators

	EWN	EUDV	Difference
Max Drawdown Largest peak-to-trough decline	-65.22%	-37.51%	-27.71%
Max Drawdown (1Y) Largest decline over 1 year	-13.24%	-10.63%	-2.61%
Max Drawdown (3Y) Largest decline over 3 years	-19.77%	-13.69%	-6.08%
Max Drawdown (5Y) Largest decline over 5 years	-43.57%	-37.51%	-6.06%
Max Drawdown (10Y) Largest decline over 10 years	-43.57%	-37.51%	-6.06%
Current Drawdown Current decline from peak	-4.14%	-5.62%	+1.48%
Average Drawdown Average peak-to-trough decline	-16.32%	-8.58%	-7.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.49%	3.97%	-0.48%

Volatility

EWN vs. EUDV - Volatility Comparison

iShares MSCI Netherlands ETF (EWN) has a higher volatility of 8.69% compared to ProShares MSCI Europe Dividend Growers ETF (EUDV) at 3.91%. This indicates that EWN's price experiences larger fluctuations and is considered to be riskier than EUDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWN	EUDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.69%	3.91%	+4.78%
Volatility (6M) Calculated over the trailing 6-month period	18.07%	11.49%	+6.58%
Volatility (1Y) Calculated over the trailing 1-year period	21.06%	14.19%	+6.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.14%	16.18%	+6.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.23%	17.17%	+4.06%

EWN vs. EUDV - Expense Ratio Comparison

EWN has a 0.50% expense ratio, which is lower than EUDV's 0.55% expense ratio.

Dividends

EWN vs. EUDV - Dividend Comparison

EWN's dividend yield for the trailing twelve months is around 4.18%, more than EUDV's 1.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUDV ProShares MSCI Europe Dividend Growers ETF	1.73%	1.74%	1.92%	1.87%	1.77%	2.30%	1.27%	2.20%	2.22%	2.33%	2.53%	0.37%
EWN iShares MSCI Netherlands ETF	4.18%	5.03%	2.18%	1.79%	1.98%	1.01%	0.78%	2.57%	2.40%	1.68%	2.71%	1.92%

Frequently Asked Questions

Can I hold both EWN and EUDV in my portfolio?

EWN and EUDV have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWN or EUDV?

EWN has higher volatility (8.69%) compared to EUDV (3.91%). In terms of maximum drawdown, EWN dropped -65.22% vs EUDV's -37.51%.

Which ETF is better, EWN or EUDV?

On 10-year performance, EWN leads with 14.24% vs 5.53% for EUDV. On fees, EWN is cheaper at 0.50% per year. On volatility, EUDV has been the lower-risk option at 3.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWN or EUDV?

Over the 10-year period, EWN has performed better with a 14.24% return vs 5.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWN or EUDV?

EWN is cheaper with a 0.50% expense ratio, compared with 0.55% for EUDV.

Which ETF pays a higher dividend yield, EWN or EUDV?

EWN has the higher dividend yield at 4.18%, compared with 1.73% for EUDV.

What is the main difference between EWN and EUDV?

EWN tracks MSCI Netherlands Investable Market Index, while EUDV tracks MSCI Europe Dividend Masters Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.50% for EWN and 0.55% for EUDV.

Which has better risk-adjusted returns?

EWN currently has the higher Sharpe Ratio (1.64 vs -0.09), 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.