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EWO vs. BBEU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWO vs. BBEU

Last updated Aug 2, 2026
Documentation

EWO (iShares MSCI Austria ETF) and BBEU (JPMorgan BetaBuilders Europe ETF) are both Europe Equities funds - EWO tracks the MSCI Austria Investable Market Index while BBEU tracks the Morningstar Developed Europe Target Market Exposure Index. Both are passively managed. Over the past 5 years, EWO returned 17.22%/yr vs 9.83%/yr for BBEU. Their correlation of 0.80 means they have usually moved in the same direction. EWO charges 0.49%/yr vs 0.09%/yr for BBEU.

Performance

EWO vs. BBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Austria ETF (EWO) and JPMorgan BetaBuilders Europe ETF (BBEU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EWO achieves a 22.21% return, which is significantly higher than BBEU's 10.17% return.

EWO

1D
-0.06%
1M
-0.38%
6M
15.38%
YTD
22.21%
1Y
47.85%
3Y*
33.11%
5Y*
17.22%
10Y*
15.04%
ALL TIME*
7.31%

BBEU

1D
-0.43%
1M
0.89%
6M
5.48%
YTD
10.17%
1Y
24.74%
3Y*
16.80%
5Y*
9.83%
10Y*
—
ALL TIME*
9.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

BBEU

JPMorgan BetaBuilders Europe ETF
$16.13M$18.88M$27.96M

EWO

iShares MSCI Austria ETF
$1.47M$2.78M$1.63M

EWO vs. BBEU - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
EWO
iShares MSCI Austria ETF		22.21%74.21%4.05%20.63%-21.95%31.50%-3.67%17.05%-19.92%
BBEU
JPMorgan BetaBuilders Europe ETF		10.17%36.37%1.85%20.31%-14.72%17.50%5.00%23.96%-13.25%

Correlation

The correlation between EWO and BBEU is 0.76, 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.

0.76

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

0.77

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

0.81

Correlation (All Time)
Calculated using the full available price history since Jun 18, 2018

0.80

The correlation between EWO and BBEU has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

EWO vs. BBEU - Sectors Allocation Comparison

Sectors
EWO
BBEU

Financial Services

48.1%
23.2%

Industrials

11.1%
14.5%

Energy

9.6%
3.5%

Basic Materials

9.4%
4.0%

Utilities

6.4%
2.9%

Technology

5.9%
8.0%

Consumer Cyclical

4.7%
4.3%

Real Estate

3.7%
0.3%

Communication Services

-

2.5%

Consumer Defensive

-

8.1%

Healthcare

-

11.0%

Financial Services

EWO
48.1%
BBEU
23.2%

Industrials

EWO
11.1%
BBEU
14.5%

Energy

EWO
9.6%
BBEU
3.5%

Basic Materials

EWO
9.4%
BBEU
4.0%

Utilities

EWO
6.4%
BBEU
2.9%

Technology

EWO
5.9%
BBEU
8.0%

Consumer Cyclical

EWO
4.7%
BBEU
4.3%

Real Estate

EWO
3.7%
BBEU
0.3%

Communication Services

EWO

-

BBEU
2.5%

Consumer Defensive

EWO

-

BBEU
8.1%

Healthcare

EWO

-

BBEU
11.0%

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 Austria ETF

JPMorgan BetaBuilders Europe ETF

Often compared with EWO:
EWO vs. EWAEWO vs. EWQEWO vs. EWLEWO vs. EWGEWO vs. IBZL.LEWO vs. EEMEWO vs. VOO
Often compared with BBEU:
BBEU vs. BBAXBBEU vs. SCHYBBEU vs. SCHDBBEU vs. TTAIBBEU vs. VOOBBEU vs. FSPSXBBEU vs. DXJ

Return for Risk

EWO vs. BBEU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EWO
EWO Risk / Return Rank: 8989
Overall Rank
EWO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
EWO Sortino Ratio Rank: 9292
Sortino Ratio Rank
EWO Omega Ratio Rank: 8989
Omega Ratio Rank
EWO Calmar Ratio Rank: 8787
Calmar Ratio Rank
EWO Martin Ratio Rank: 8383
Martin Ratio Rank
BBEU
BBEU Risk / Return Rank: 6363
Overall Rank
BBEU Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
BBEU Sortino Ratio Rank: 6767
Sortino Ratio Rank
BBEU Omega Ratio Rank: 6363
Omega Ratio Rank
BBEU Calmar Ratio Rank: 5656
Calmar Ratio Rank
BBEU Martin Ratio Rank: 6363
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.

EWO vs. BBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Austria ETF (EWO) and JPMorgan BetaBuilders Europe ETF (BBEU). 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.

EWOBBEUDifference
Sharpe ratioReturn per unit of total volatility
2.40
1.52

+0.87

Sortino ratioReturn per unit of downside risk
3.39
2.21

+1.19

Omega ratioGain probability vs. loss probability

1.41

1.27

+0.14

Calmar ratioReturn relative to maximum drawdown

3.38

1.98

+1.40

Martin ratioReturn relative to average drawdown

11.29

7.53

+3.76

EWO vs. BBEU - Sharpe Ratio Comparison

The current EWO Sharpe Ratio is 2.40, which is higher than the BBEU Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of EWO and BBEU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EWO vs. BBEU - Drawdown Comparison

The maximum EWO drawdown since its inception was -75.69%, which is greater than BBEU's maximum drawdown of -36.27%. Use the drawdown chart below to compare losses from any high point for EWO and BBEU.

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Drawdown Indicators

EWOBBEUDifference

Max Drawdown

Largest peak-to-trough decline

-75.69%

-36.27%

-39.42%

Max Drawdown (1Y)

Largest decline over 1 year

-14.08%

-12.23%

-1.85%

Max Drawdown (3Y)

Largest decline over 3 years

-16.75%

-14.23%

-2.52%

Max Drawdown (5Y)

Largest decline over 5 years

-41.82%

-31.08%

-10.74%

Max Drawdown (10Y)

Largest decline over 10 years

-58.10%

—

—

Current Drawdown

Current decline from peak

-1.53%

-0.43%

-1.10%

Average Drawdown

Average peak-to-trough decline

-27.98%

-6.04%

-21.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.21%

3.22%

+0.99%

Volatility

EWO vs. BBEU - Volatility Comparison

iShares MSCI Austria ETF (EWO) has a higher volatility of 6.23% compared to JPMorgan BetaBuilders Europe ETF (BBEU) at 4.39%. This indicates that EWO's price experiences larger fluctuations and is considered to be riskier than BBEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWOBBEUDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.23%

4.39%

+1.84%

Volatility (6M)

Calculated over the trailing 6-month period

16.88%

13.87%

+3.01%

Volatility (1Y)

Calculated over the trailing 1-year period

19.92%

15.97%

+3.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.03%

17.57%

+4.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.60%

19.26%

+3.34%

EWO vs. BBEU - Expense Ratio Comparison

EWO has a 0.49% expense ratio, which is higher than BBEU's 0.09% expense ratio.

Dividends

EWO vs. BBEU - Dividend Comparison

EWO's dividend yield for the trailing twelve months is around 1.98%, less than BBEU's 2.88% yield.

PositionTTM20252024202320222021202020192018201720162015
BBEU
JPMorgan BetaBuilders Europe ETF		2.88%2.83%4.16%2.94%4.72%2.63%2.29%3.24%0.49%0.00%0.00%0.00%
EWO
iShares MSCI Austria ETF		1.98%2.38%7.40%5.66%4.75%2.42%0.98%3.11%4.04%2.03%1.99%1.51%

Frequently Asked Questions

EWO and BBEU have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWO has higher volatility (6.23%) compared to BBEU (4.39%). In terms of maximum drawdown, EWO dropped -75.69% vs BBEU's -36.27%.

On 5-year performance, EWO leads with 17.22% vs 9.83% for BBEU. On fees, BBEU is cheaper at 0.09% per year. On volatility, BBEU has been the lower-risk option at 4.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EWO has performed better with a 17.22% return vs 9.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BBEU is cheaper with a 0.09% expense ratio, compared with 0.49% for EWO.

BBEU has the higher dividend yield at 2.88%, compared with 1.98% for EWO.

EWO tracks MSCI Austria Investable Market Index, while BBEU tracks Morningstar Developed Europe Target Market Exposure Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.49% for EWO and 0.09% for BBEU.

EWO currently has the higher Sharpe Ratio (2.40 vs 1.52), 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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