PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EWN vs. EWS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWN vs. EWS

Last updated Aug 2, 2026
Documentation

EWN (iShares MSCI Netherlands ETF) and EWS (iShares MSCI Singapore ETF) are both exchange-traded funds - EWN is a Europe Equities fund tracking the MSCI Netherlands Investable Market Index, while EWS is a Asia Pacific Equities fund tracking the MSCI Singapore 25/50 Index. Both are passively managed. Over the past 10 years, EWN returned 13.34%/yr vs 8.70%/yr for EWS. Their 0.52 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.50% expense ratio.

Performance

EWN vs. EWS - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, EWN achieves a 18.31% return, which is significantly lower than EWS's 19.46% return. Over the past 10 years, EWN has outperformed EWS with an annualized return of 13.34%, while EWS has yielded a comparatively lower 8.70% annualized return.

EWN

1D
-0.93%
1M
-1.10%
6M
8.36%
YTD
18.31%
1Y
37.76%
3Y*
17.97%
5Y*
8.59%
10Y*
13.34%
ALL TIME*
7.52%

EWS

1D
-0.40%
1M
7.03%
6M
16.49%
YTD
19.46%
1Y
26.92%
3Y*
22.85%
5Y*
11.82%
10Y*
8.70%
ALL TIME*
4.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EWN

iShares MSCI Netherlands ETF
$20.58M$19.47M$16.07M

EWS

iShares MSCI Singapore ETF
$34.51M$34.58M$29.31M

EWN vs. EWS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWN
iShares MSCI Netherlands ETF		18.31%34.87%1.67%22.08%-24.43%22.74%23.23%32.45%-15.37%33.73%
EWS
iShares MSCI Singapore ETF		19.46%31.35%22.10%6.15%-9.80%5.47%-8.47%14.54%-11.34%34.78%

Correlation

The correlation between EWN and EWS is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.55

Correlation (3Y)
Balances recent behavior with more history.

0.58

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.63

Correlation (10Y)
Provides a long-term view across more market conditions.

0.63

Correlation (All Time)
Calculated using the full available price history since Apr 1, 1996

0.52

The correlation between EWN and EWS shifts across timeframes, from 0.52 (all time) to 0.63 (5 years), reflecting how their relationship changes across market environments.

EWN vs. EWS - Sectors Allocation Comparison

Sectors
EWN
EWS

Technology

37.8%
4.7%

Financial Services

17.3%
52.5%

Industrials

10.4%
17.4%

Consumer Defensive

9.9%
4.0%

Communication Services

9.8%
3.8%

Consumer Cyclical

5.4%
4.8%

Basic Materials

4.7%

-

Healthcare

2.5%

-

Energy

1.8%

-

Real Estate

0.7%
8.7%

Utilities

-

4.1%

Technology

EWN
37.8%
EWS
4.7%

Financial Services

EWN
17.3%
EWS
52.5%

Industrials

EWN
10.4%
EWS
17.4%

Consumer Defensive

EWN
9.9%
EWS
4.0%

Communication Services

EWN
9.8%
EWS
3.8%

Consumer Cyclical

EWN
5.4%
EWS
4.8%

Basic Materials

EWN
4.7%
EWS

-

Healthcare

EWN
2.5%
EWS

-

Energy

EWN
1.8%
EWS

-

Real Estate

EWN
0.7%
EWS
8.7%

Utilities

EWN

-

EWS
4.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Netherlands ETF

iShares MSCI Singapore ETF

Often compared with EWN:
EWN vs. EDENEWN vs. FEZEWN vs. EWQEWN vs. EWCEWN vs. EWDEWN vs. VOOEWN vs. ICLN
Often compared with EWS:
EWS vs. EWHEWS vs. EWTEWS vs. EWJEWS vs. ASEAEWS vs. EIDOEWS vs. FLGREWS vs. SMIN

Return for Risk

EWN vs. EWS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EWN
EWN Risk / Return Rank: 7474
Overall Rank
EWN Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
EWN Sortino Ratio Rank: 7373
Sortino Ratio Rank
EWN Omega Ratio Rank: 6666
Omega Ratio Rank
EWN Calmar Ratio Rank: 7878
Calmar Ratio Rank
EWN Martin Ratio Rank: 7979
Martin Ratio Rank
EWS
EWS Risk / Return Rank: 7777
Overall Rank
EWS Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
EWS Sortino Ratio Rank: 7777
Sortino Ratio Rank
EWS Omega Ratio Rank: 7575
Omega Ratio Rank
EWS Calmar Ratio Rank: 8787
Calmar Ratio Rank
EWS Martin Ratio Rank: 7070
Martin Ratio Rank
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.

EWN vs. EWS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Netherlands ETF (EWN) and iShares MSCI Singapore ETF (EWS). 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.

EWNEWSDifference
Sharpe ratioReturn per unit of total volatility
1.65
1.76

-0.11

Sortino ratioReturn per unit of downside risk
2.36
2.47

-0.11

Omega ratioGain probability vs. loss probability

1.28

1.31

-0.03

Calmar ratioReturn relative to maximum drawdown

2.78

3.50

-0.72

Martin ratioReturn relative to average drawdown

10.09

8.50

+1.59

EWN vs. EWS - Sharpe Ratio Comparison

The current EWN Sharpe Ratio is 1.65, which is comparable to the EWS Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of EWN and EWS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

EWN vs. EWS - Drawdown Comparison

The maximum EWN drawdown since its inception was -65.22%, smaller than the maximum EWS drawdown of -75.13%. Use the drawdown chart below to compare losses from any high point for EWN and EWS.

Loading charts...

Drawdown Indicators

EWNEWSDifference

Max Drawdown

Largest peak-to-trough decline

-65.22%

-75.13%

+9.91%

Max Drawdown (1Y)

Largest decline over 1 year

-13.24%

-7.82%

-5.42%

Max Drawdown (3Y)

Largest decline over 3 years

-19.77%

-16.34%

-3.43%

Max Drawdown (5Y)

Largest decline over 5 years

-43.57%

-29.06%

-14.51%

Max Drawdown (10Y)

Largest decline over 10 years

-43.57%

-40.84%

-2.73%

Current Drawdown

Current decline from peak

-5.67%

-0.40%

-5.27%

Average Drawdown

Average peak-to-trough decline

-16.28%

-21.89%

+5.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.64%

3.21%

+0.43%

Volatility

EWN vs. EWS - Volatility Comparison

iShares MSCI Netherlands ETF (EWN) has a higher volatility of 7.40% compared to iShares MSCI Singapore ETF (EWS) at 4.19%. This indicates that EWN's price experiences larger fluctuations and is considered to be riskier than EWS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

EWNEWSDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.40%

4.19%

+3.21%

Volatility (6M)

Calculated over the trailing 6-month period

19.19%

12.07%

+7.12%

Volatility (1Y)

Calculated over the trailing 1-year period

22.36%

15.57%

+6.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.35%

17.27%

+6.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.31%

17.94%

+3.37%

EWN vs. EWS - Expense Ratio Comparison

Both EWN and EWS have an expense ratio of 0.50%.

Dividends

EWN vs. EWS - Dividend Comparison

EWN's dividend yield for the trailing twelve months is around 4.25%, more than EWS's 3.67% yield.

PositionTTM20252024202320222021202020192018201720162015
EWN
iShares MSCI Netherlands ETF		4.25%5.03%2.18%1.79%1.98%1.01%0.78%2.57%2.40%1.68%2.71%1.92%
EWS
iShares MSCI Singapore ETF		3.67%4.10%4.28%6.50%2.56%6.00%2.68%4.70%4.21%3.46%3.96%4.20%

Frequently Asked Questions

EWN and EWS 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.

EWN has higher volatility (7.40%) compared to EWS (4.19%). In terms of maximum drawdown, EWN dropped -65.22% vs EWS's -75.13%.

On 10-year performance, EWN leads with 13.34% vs 8.70% for EWS. Both ETFs have the same 0.50% expense ratio. On volatility, EWS has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWN has performed better with a 13.34% return vs 8.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWN and EWS have the same expense ratio: 0.50% per year.

EWN has the higher dividend yield at 4.25%, compared with 3.67% for EWS.

EWN is categorized as Europe Equities, while EWS is Asia Pacific Equities. EWN tracks MSCI Netherlands Investable Market Index, while EWS tracks MSCI Singapore 25/50 Index.

EWS currently has the higher Sharpe Ratio (1.76 vs 1.65), 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.

Portfolio Optimizer

Find the right allocation for EWN and EWS

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer