EWO vs. ELP

Last updated Jun 3, 2026

EWO (iShares MSCI Austria ETF) is Europe Equities fund tracking the MSCI Austria Investable Market Index, while ELP (Companhia Paranaense de Energia - COPEL) is a stock. At a 0.28 correlation, their price movements are largely independent.

Performance

EWO vs. ELP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Austria ETF (EWO) and Companhia Paranaense de Energia - COPEL (ELP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EWO

• 1D: 1.05%
• 1M: 6.00%
• YTD: 16.61%
• 6M: 23.65%
• 1Y: 44.58%
• 3Y*: 33.99%
• 5Y*: 15.24%
• 10Y*: 14.21%

ELP

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EWO vs. ELP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWO iShares MSCI Austria ETF	16.61%	74.21%	4.05%	20.63%	-21.95%	31.50%	-3.67%	17.05%	-22.88%	52.47%
ELP Companhia Paranaense de Energia - COPEL	0.00%	72.16%	-26.84%	22.60%	39.20%	-11.33%	-11.91%	126.44%	15.91%	-1.77%

Correlation

The correlation between EWO and ELP is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jun 4, 1998	0.28

Over the past year, the correlation between EWO and ELP has dropped to 0.08 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.

Return for Risk

EWO vs. ELP — Risk / Return Rank

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

EWO

EWO Risk / Return Rank: 68
EWO Sharpe Ratio Rank: 73
EWO Sortino Ratio Rank: 73
EWO Omega Ratio Rank: 67
EWO Calmar Ratio Rank: 65
EWO Martin Ratio Rank: 62

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.

EWO vs. ELP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Austria ETF (EWO) and Companhia Paranaense de Energia - COPEL (ELP). 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.

	EWO	ELP	Difference
Sharpe ratio Return per unit of total volatility	2.43	—	—
Sortino ratio Return per unit of downside risk	3.34	—	—
Omega ratio Gain probability vs. loss probability	1.41	—	—
Calmar ratio Return relative to maximum drawdown	3.32	—	—
Martin ratio Return relative to average drawdown	11.30	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EWO	ELP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	—	—

Drawdowns

Drawdown Indicators

	EWO	ELP	Difference
Max Drawdown Largest peak-to-trough decline	-75.69%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-14.08%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-41.82%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-58.10%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-28.13%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.14%	—	—

Volatility

Volatility by Period

	EWO	ELP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.61%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.95%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.47%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.83%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.86%	—	—

Dividends

EWO vs. ELP - Dividend Comparison

EWO's dividend yield for the trailing twelve months is around 2.04%, less than ELP's 6.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ELP Companhia Paranaense de Energia - COPEL	6.18%	9.41%	5.07%	3.93%	8.63%	12.84%	4.23%	4.11%	11.43%	10.18%	3.64%	4.94%
EWO iShares MSCI Austria ETF	2.04%	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

Can I hold both EWO and ELP in my portfolio?

EWO and ELP have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.