EWP vs. PPTA
EWP (iShares MSCI Spain ETF) is Europe Equities fund tracking the MSCI Spain Index, while PPTA (Perpetua Resources Corp) is a stock. Over the past 5 years, EWP returned 17.57%/yr vs 22.85%/yr for PPTA. At a 0.31 correlation, their price movements are largely independent.
Performance
EWP vs. PPTA - Performance Comparison
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Returns By Period
In the year-to-date period, EWP achieves a 8.89% return, which is significantly higher than PPTA's -0.50% return.
EWP
- 1D
- 0.63%
- 1M
- 4.02%
- YTD
- 8.89%
- 6M
- 11.54%
- 1Y
- 36.89%
- 3Y*
- 32.21%
- 5Y*
- 17.57%
- 10Y*
- 12.33%
PPTA
- 1D
- 2.77%
- 1M
- -24.17%
- YTD
- -0.50%
- 6M
- -16.47%
- 1Y
- 83.61%
- 3Y*
- 77.19%
- 5Y*
- 22.85%
- 10Y*
- —
EWP vs. PPTA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EWP iShares MSCI Spain ETF | 8.89% | 78.03% | 5.70% | 30.26% | -5.18% | 0.14% |
PPTA Perpetua Resources Corp | -0.50% | 126.90% | 236.59% | 8.56% | -38.53% | -34.48% |
Correlation
The correlation between EWP and PPTA is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2021 | 0.31 |
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Return for Risk
EWP vs. PPTA — Risk / Return Rank
EWP
PPTA
EWP vs. PPTA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Spain ETF (EWP) and Perpetua Resources Corp (PPTA). 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.
| EWP | PPTA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.22 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 1.97 | +1.28 |
| Martin ratioReturn relative to average drawdown | 11.51 | 5.23 | +6.28 |
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Drawdowns
EWP vs. PPTA - Drawdown Comparison
The maximum EWP drawdown since its inception was -61.19%, smaller than the maximum PPTA drawdown of -81.78%. Use the drawdown chart below to compare losses from any high point for EWP and PPTA.
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Drawdown Indicators
| EWP | PPTA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.19% | -81.78% | +20.59% |
Max Drawdown (1Y)Largest decline over 1 year | -11.38% | -42.61% | +31.23% |
Max Drawdown (3Y)Largest decline over 3 years | -12.19% | -42.61% | +30.42% |
Max Drawdown (5Y)Largest decline over 5 years | -33.91% | -81.78% | +47.87% |
Max Drawdown (10Y)Largest decline over 10 years | -46.36% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -35.28% | +35.28% |
Average DrawdownAverage peak-to-trough decline | -21.41% | -38.70% | +17.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 16.04% | -12.82% |
Volatility
EWP vs. PPTA - Volatility Comparison
The current volatility for iShares MSCI Spain ETF (EWP) is 6.21%, while Perpetua Resources Corp (PPTA) has a volatility of 25.93%. This indicates that EWP experiences smaller price fluctuations and is considered to be less risky than PPTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWP | PPTA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.21% | 25.93% | -19.72% |
Volatility (6M)Calculated over the trailing 6-month period | 16.09% | 56.52% | -40.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.13% | 75.66% | -56.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.31% | 72.00% | -51.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.22% | 72.22% | -50.00% |
Dividends
EWP vs. PPTA - Dividend Comparison
EWP's dividend yield for the trailing twelve months is around 2.09%, while PPTA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWP iShares MSCI Spain ETF | 2.09% | 2.27% | 4.35% | 2.70% | 3.07% | 3.29% | 2.56% | 3.72% | 3.69% | 2.72% | 4.65% | 3.85% |
PPTA Perpetua Resources Corp | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EWP and PPTA have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PPTA has higher volatility (25.93%) compared to EWP (6.21%). In terms of maximum drawdown, EWP dropped -61.19% vs PPTA's -81.78%.
EWP currently has the higher Sharpe Ratio (1.94 vs 1.16), 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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