EWP vs. IBDRY
EWP (iShares MSCI Spain ETF) is Europe Equities fund tracking the MSCI Spain Index, while IBDRY (Iberdrola SA) is a stock. Over the past 10 years, EWP returned 10.99%/yr vs 18.51%/yr for IBDRY. A 0.72 correlation means they provide meaningful diversification when combined.
Performance
EWP vs. IBDRY - Performance Comparison
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Returns By Period
In the year-to-date period, EWP achieves a 5.49% return, which is significantly lower than IBDRY's 6.44% return. Over the past 10 years, EWP has underperformed IBDRY with an annualized return of 10.99%, while IBDRY has yielded a comparatively higher 18.51% annualized return.
EWP
- 1D
- -1.06%
- 1M
- 3.64%
- YTD
- 5.49%
- 6M
- 10.02%
- 1Y
- 34.73%
- 3Y*
- 30.89%
- 5Y*
- 17.03%
- 10Y*
- 10.99%
IBDRY
- 1D
- -0.20%
- 1M
- -1.17%
- YTD
- 6.44%
- 6M
- 9.44%
- 1Y
- 29.97%
- 3Y*
- 28.29%
- 5Y*
- 17.04%
- 10Y*
- 18.51%
EWP vs. IBDRY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWP iShares MSCI Spain ETF | 5.49% | 78.03% | 5.70% | 30.26% | -5.18% | 0.25% | -3.94% | 11.93% | -15.32% | 26.98% |
IBDRY Iberdrola SA | 6.44% | 65.75% | 10.02% | 17.36% | 3.59% | -15.13% | 44.34% | 33.28% | 7.72% | 27.83% |
Correlation
The correlation between EWP and IBDRY is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2007 | 0.72 |
The correlation between EWP and IBDRY shifts across timeframes, from 0.53 (1 year) to 0.72 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EWP vs. IBDRY — Risk / Return Rank
EWP
IBDRY
EWP vs. IBDRY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Spain ETF (EWP) and Iberdrola SA (IBDRY). 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 | IBDRY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.31 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.07 | 3.28 | -0.22 |
| Martin ratioReturn relative to average drawdown | 10.91 | 8.57 | +2.34 |
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 | IBDRY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 1.71 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 0.80 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.79 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.25 | +0.06 |
Drawdowns
EWP vs. IBDRY - Drawdown Comparison
The maximum EWP drawdown since its inception was -61.19%, smaller than the maximum IBDRY drawdown of -77.08%. Use the drawdown chart below to compare losses from any high point for EWP and IBDRY.
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Drawdown Indicators
| EWP | IBDRY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.19% | -77.08% | +15.89% |
Max Drawdown (1Y)Largest decline over 1 year | -11.38% | -9.17% | -2.21% |
Max Drawdown (3Y)Largest decline over 3 years | -12.19% | -19.11% | +6.92% |
Max Drawdown (5Y)Largest decline over 5 years | -33.91% | -28.11% | -5.80% |
Max Drawdown (10Y)Largest decline over 10 years | -46.36% | -37.43% | -8.93% |
Current DrawdownCurrent decline from peak | -2.60% | -5.91% | +3.31% |
Average DrawdownAverage peak-to-trough decline | -21.43% | -29.49% | +8.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 3.51% | -0.32% |
Volatility
EWP vs. IBDRY - Volatility Comparison
iShares MSCI Spain ETF (EWP) has a higher volatility of 6.12% compared to Iberdrola SA (IBDRY) at 5.14%. This indicates that EWP's price experiences larger fluctuations and is considered to be riskier than IBDRY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWP | IBDRY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.12% | 5.14% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 15.64% | 13.51% | +2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.76% | 17.62% | +1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.24% | 21.41% | -1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.23% | 23.43% | -1.20% |
Dividends
EWP vs. IBDRY - Dividend Comparison
EWP's dividend yield for the trailing twelve months is around 2.15%, less than IBDRY's 3.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWP iShares MSCI Spain ETF | 2.15% | 2.27% | 4.35% | 2.70% | 3.07% | 3.29% | 2.56% | 3.72% | 3.69% | 2.72% | 4.65% | 3.85% |
IBDRY Iberdrola SA | 3.46% | 4.18% | 4.38% | 4.11% | 4.14% | 3.77% | 2.83% | 3.01% | 3.76% | 7.28% | 10.00% | 1.71% |
Frequently Asked Questions
EWP and IBDRY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWP has higher volatility (6.12%) compared to IBDRY (5.14%). In terms of maximum drawdown, EWP dropped -61.19% vs IBDRY's -77.08%.
EWP currently has the higher Sharpe Ratio (1.87 vs 1.71), 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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