EWP vs. EUSC

Last updated Jun 3, 2026

EWP (iShares MSCI Spain ETF) and EUSC (WisdomTree Europe Hedged SmallCap Equity Fund) are both Europe Equities funds - EWP tracks the MSCI Spain Index while EUSC tracks the WisdomTree Europe Hedged SmallCap Equity Index. Both are passively managed. EWP charges 0.50%/yr vs 0.58%/yr for EUSC.

Performance

EWP vs. EUSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Spain ETF (EWP) and WisdomTree Europe Hedged SmallCap Equity Fund (EUSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EWP

• 1D: 0.02%
• 1M: 1.54%
• YTD: 6.62%
• 6M: 12.03%
• 1Y: 34.29%
• 3Y*: 31.36%
• 5Y*: 17.20%
• 10Y*: 11.11%

EUSC

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EWP vs. EUSC - Yearly Performance Comparison

	2026 (YTD)
EWP iShares MSCI Spain ETF	-0.50%
EUSC WisdomTree Europe Hedged SmallCap Equity Fund	0.00%

EWP vs. EUSC - Sectors Allocation Comparison

Sectors	EWP	EUSC
Financial Services	41.4%	28.4%
Utilities	21.2%	6.5%
Industrials	16.1%	20.1%
Energy	5.3%	3.7%
Technology	4.9%	4.4%
Consumer Cyclical	4.0%	9.1%
Communication Services	2.9%	5.0%
Real Estate	2.9%	9.3%
Healthcare	1.3%	2.9%
Basic Materials	-	6.5%
Consumer Defensive	-	4.1%

Return for Risk

EWP vs. EUSC — Risk / Return Rank

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

EWP

EWP Risk / Return Rank: 56
EWP Sharpe Ratio Rank: 54
EWP Sortino Ratio Rank: 50
EWP Omega Ratio Rank: 50
EWP Calmar Ratio Rank: 63
EWP 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.

EWP vs. EUSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Spain ETF (EWP) and WisdomTree Europe Hedged SmallCap Equity Fund (EUSC). 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	EUSC	Difference
Sharpe ratio Return per unit of total volatility	1.84	—	—
Sortino ratio Return per unit of downside risk	2.48	—	—
Omega ratio Gain probability vs. loss probability	1.32	—	—
Calmar ratio Return relative to maximum drawdown	3.18	—	—
Martin ratio Return relative to average drawdown	11.33	—	—
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

	EWP	EUSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	—	—

Drawdowns

EWP vs. EUSC - Drawdown Comparison

The maximum EWP drawdown since its inception was -61.19%, which is greater than EUSC's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for EWP and EUSC.

Drawdown Indicators

	EWP	EUSC	Difference
Max Drawdown Largest peak-to-trough decline	-61.19%	0.00%	-61.19%
Max Drawdown (1Y) Largest decline over 1 year	-11.38%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.19%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.36%	—	—
Current Drawdown Current decline from peak	-1.56%	0.00%	-1.56%
Average Drawdown Average peak-to-trough decline	-21.44%	0.00%	-21.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	—	—

Volatility

Volatility by Period

	EWP	EUSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.86%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.60%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.76%	0.00%	+18.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.24%	0.00%	+20.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.23%	0.00%	+22.23%

EWP vs. EUSC - Expense Ratio Comparison

EWP has a 0.50% expense ratio, which is lower than EUSC's 0.58% expense ratio.

Dividends

EWP vs. EUSC - Dividend Comparison

EWP's dividend yield for the trailing twelve months is around 2.13%, while EUSC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUSC WisdomTree Europe Hedged SmallCap Equity Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EWP iShares MSCI Spain ETF	2.13%	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

Which ETF is better, EWP or EUSC?

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.

Which ETF is cheaper, EWP or EUSC?

EWP is cheaper with a 0.50% expense ratio, compared with 0.58% for EUSC.

Which ETF pays a higher dividend yield, EWP or EUSC?

EWP has the higher dividend yield at 2.13%, compared with 0.00% for EUSC.

What is the main difference between EWP and EUSC?

EWP tracks MSCI Spain Index, while EUSC tracks WisdomTree Europe Hedged SmallCap Equity Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.50% for EWP and 0.58% for EUSC.