EWP vs. EUNY.DE
EWP (iShares MSCI Spain ETF) and EUNY.DE (iShares Emerging Markets Dividend UCITS ETF) are both exchange-traded funds - EWP is a Europe Equities fund tracking the MSCI Spain Index, while EUNY.DE is a Emerging Markets Equities fund tracking the Dow Jones Emerging Markets Select Dividend. Both are passively managed. Over the past 10 years, EWP returned 11.50%/yr vs 7.38%/yr for EUNY.DE. At a 0.50 correlation, their price movements are largely independent. EWP charges 0.50%/yr vs 0.65%/yr for EUNY.DE.
Performance
EWP vs. EUNY.DE - Performance Comparison
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Different Trading Currencies
EWP is traded in USD, while EUNY.DE is traded in EUR. To make them comparable, the EUNY.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, EWP achieves a 5.10% return, which is significantly lower than EUNY.DE's 10.16% return. Over the past 10 years, EWP has outperformed EUNY.DE with an annualized return of 11.50%, while EUNY.DE has yielded a comparatively lower 7.38% annualized return.
EWP
- 1D
- -0.23%
- 1M
- -1.00%
- YTD
- 5.10%
- 6M
- 9.82%
- 1Y
- 33.13%
- 3Y*
- 30.85%
- 5Y*
- 16.75%
- 10Y*
- 11.50%
EUNY.DE
- 1D
- -0.45%
- 1M
- -3.77%
- YTD
- 10.16%
- 6M
- 12.47%
- 1Y
- 27.56%
- 3Y*
- 20.45%
- 5Y*
- 4.30%
- 10Y*
- 7.38%
EWP vs. EUNY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWP iShares MSCI Spain ETF | 5.10% | 78.03% | 5.70% | 30.26% | -5.18% | 0.25% | -3.94% | 11.93% | -15.32% | 26.98% |
EUNY.DE iShares Emerging Markets Dividend UCITS ETF | 10.16% | 28.66% | 5.96% | 19.01% | -30.20% | 10.52% | -3.07% | 15.81% | -6.18% | 26.11% |
Correlation
The correlation between EWP and EUNY.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2012 | 0.50 |
The correlation between EWP and EUNY.DE has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.
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Return for Risk
EWP vs. EUNY.DE — Risk / Return Rank
EWP
EUNY.DE
EWP vs. EUNY.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Spain ETF (EWP) and iShares Emerging Markets Dividend UCITS ETF (EUNY.DE). 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.
| EWP | EUNY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.35 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 4.80 | -1.87 |
| Martin ratioReturn relative to average drawdown | 10.37 | 13.42 | -3.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EWP | EUNY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 2.06 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.25 | +0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.41 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.18 | +0.13 |
Drawdowns
EWP vs. EUNY.DE - Drawdown Comparison
The maximum EWP drawdown since its inception was -61.19%, which is greater than EUNY.DE's maximum drawdown of -48.41%. Use the drawdown chart below to compare losses from any high point for EWP and EUNY.DE.
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Drawdown Indicators
| EWP | EUNY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.19% | -48.41% | -12.78% |
Max Drawdown (1Y)Largest decline over 1 year | -11.38% | -5.73% | -5.65% |
Max Drawdown (3Y)Largest decline over 3 years | -12.19% | -14.74% | +2.55% |
Max Drawdown (5Y)Largest decline over 5 years | -33.91% | -40.81% | +6.90% |
Max Drawdown (10Y)Largest decline over 10 years | -46.36% | -40.81% | -5.55% |
Current DrawdownCurrent decline from peak | -2.96% | -3.96% | +1.00% |
Average DrawdownAverage peak-to-trough decline | -21.43% | -15.76% | -5.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 2.05% | +1.15% |
Volatility
EWP vs. EUNY.DE - Volatility Comparison
iShares MSCI Spain ETF (EWP) and iShares Emerging Markets Dividend UCITS ETF (EUNY.DE) have volatilities of 5.07% and 5.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWP | EUNY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 5.13% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 15.70% | 11.02% | +4.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.79% | 13.37% | +5.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.25% | 17.37% | +2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.24% | 17.83% | +4.41% |
EWP vs. EUNY.DE - Expense Ratio Comparison
EWP has a 0.50% expense ratio, which is lower than EUNY.DE's 0.65% expense ratio.
Dividends
EWP vs. EUNY.DE - Dividend Comparison
EWP's dividend yield for the trailing twelve months is around 2.16%, less than EUNY.DE's 5.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNY.DE iShares Emerging Markets Dividend UCITS ETF | 5.32% | 5.82% | 7.72% | 8.04% | 9.56% | 6.35% | 5.09% | 5.57% | 5.65% | 4.09% | 4.35% | 6.37% |
EWP iShares MSCI Spain ETF | 2.16% | 2.27% | 4.35% | 2.70% | 3.07% | 3.29% | 2.56% | 3.72% | 3.69% | 2.72% | 4.65% | 3.85% |
Frequently Asked Questions
EWP and EUNY.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EWP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EWP is cheaper with a 0.50% expense ratio, compared with 0.65% for EUNY.DE.
EWP is categorized as Europe Equities, while EUNY.DE is Emerging Markets Equities. EWP tracks MSCI Spain Index, while EUNY.DE tracks Dow Jones Emerging Markets Select Dividend. Their fees differ too: 0.50% for EWP and 0.65% for EUNY.DE.
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