EWQ vs. EWD
EWQ (iShares MSCI France ETF) and EWD (iShares MSCI Sweden ETF) are both Europe Equities funds from iShares - EWQ tracks the MSCI France Index while EWD tracks the MSCI Sweden Index. Both are passively managed. Over the past 10 years, EWQ returned 10.16%/yr vs 10.20%/yr for EWD. Their 0.73 correlation means they have sometimes moved together and sometimes differently. EWQ charges 0.50%/yr vs 0.55%/yr for EWD.
Performance
EWQ vs. EWD - Performance Comparison
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Returns By Period
In the year-to-date period, EWQ achieves a 8.17% return, which is significantly lower than EWD's 11.35% return. Both investments have delivered pretty close results over the past 10 years, with EWQ having a 10.16% annualized return and EWD not far ahead at 10.20%.
EWQ
- 1D
- 1.11%
- 1M
- 3.51%
- 6M
- 6.51%
- YTD
- 8.17%
- 1Y
- 16.85%
- 3Y*
- 10.87%
- 5Y*
- 7.54%
- 10Y*
- 10.16%
- ALL TIME*
- 7.01%
EWD
- 1D
- 1.81%
- 1M
- 6.08%
- 6M
- 2.98%
- YTD
- 11.35%
- 1Y
- 25.27%
- 3Y*
- 19.40%
- 5Y*
- 5.21%
- 10Y*
- 10.20%
- ALL TIME*
- 8.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.32M | $18.47M | $11.48M | |
| $16.77M | $14.69M | $16.24M |
EWQ vs. EWD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWQ iShares MSCI France ETF | 8.17% | 28.90% | -5.63% | 21.71% | -12.05% | 21.43% | 2.86% | 26.69% | -12.90% | 29.11% |
EWD iShares MSCI Sweden ETF | 11.35% | 36.55% | -3.90% | 25.07% | -27.84% | 22.84% | 22.27% | 21.74% | -12.78% | 21.86% |
Correlation
The correlation between EWQ and EWD is 0.80, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 1996 | 0.73 |
The correlation between EWQ and EWD shifts across timeframes, from 0.73 (all time) to 0.83 (5 years), reflecting how their relationship changes across market environments.
EWQ vs. EWD - Sectors Allocation Comparison
Sectors
EWQ
EWD
Industrials
Financial Services
Consumer Cyclical
Consumer Defensive
Healthcare
Energy
-
Basic Materials
Technology
Communication Services
Utilities
-
Real Estate
Industrials
EWQ
EWD
Financial Services
EWQ
EWD
Consumer Cyclical
EWQ
EWD
Consumer Defensive
EWQ
EWD
Healthcare
EWQ
EWD
Energy
EWQ
EWD
-
Basic Materials
EWQ
EWD
Technology
EWQ
EWD
Communication Services
EWQ
EWD
Utilities
EWQ
EWD
-
Real Estate
EWQ
EWD
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Return for Risk
EWQ vs. EWD — Risk / Return Rank
EWQ
EWD
EWQ vs. EWD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI France ETF (EWQ) and iShares MSCI Sweden ETF (EWD). 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.
| EWQ | EWD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 1.75 | -0.53 |
| Martin ratioReturn relative to average drawdown | 3.68 | 5.30 | -1.62 |
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Drawdowns
EWQ vs. EWD - Drawdown Comparison
The maximum EWQ drawdown since its inception was -61.41%, smaller than the maximum EWD drawdown of -75.40%. Use the drawdown chart below to compare losses from any high point for EWQ and EWD.
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Drawdown Indicators
| EWQ | EWD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.41% | -75.40% | +13.99% |
Max Drawdown (1Y)Largest decline over 1 year | -13.80% | -14.49% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -15.16% | -17.84% | +2.68% |
Max Drawdown (5Y)Largest decline over 5 years | -31.46% | -42.33% | +10.87% |
Max Drawdown (10Y)Largest decline over 10 years | -39.23% | -42.33% | +3.10% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -16.01% | -19.15% | +3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.59% | 4.78% | -0.19% |
Volatility
EWQ vs. EWD - Volatility Comparison
The current volatility for iShares MSCI France ETF (EWQ) is 4.41%, while iShares MSCI Sweden ETF (EWD) has a volatility of 4.96%. This indicates that EWQ experiences smaller price fluctuations and is considered to be less risky than EWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWQ | EWD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.41% | 4.96% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 14.71% | 17.15% | -2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.38% | 20.15% | -2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.86% | 24.04% | -4.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.40% | 23.20% | -2.80% |
EWQ vs. EWD - Expense Ratio Comparison
EWQ has a 0.50% expense ratio, which is lower than EWD's 0.55% expense ratio.
Dividends
EWQ vs. EWD - Dividend Comparison
EWQ's dividend yield for the trailing twelve months is around 2.77%, less than EWD's 3.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWD iShares MSCI Sweden ETF | 3.35% | 3.27% | 1.77% | 2.41% | 3.68% | 5.46% | 0.98% | 4.15% | 5.17% | 3.23% | 3.91% | 4.08% |
EWQ iShares MSCI France ETF | 2.77% | 2.63% | 3.31% | 2.73% | 3.23% | 3.79% | 1.02% | 2.44% | 2.90% | 1.90% | 2.84% | 2.25% |
Frequently Asked Questions
EWQ and EWD have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWD has higher volatility (4.96%) compared to EWQ (4.41%). In terms of maximum drawdown, EWQ dropped -61.41% vs EWD's -75.40%.
On 10-year performance, EWD leads with 10.20% vs 10.16% for EWQ. On fees, EWQ is cheaper at 0.50% per year. On volatility, EWQ has been the lower-risk option at 4.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EWD has performed better with a 10.20% return vs 10.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWQ is cheaper with a 0.50% expense ratio, compared with 0.55% for EWD.
EWD has the higher dividend yield at 3.35%, compared with 2.77% for EWQ.
EWQ tracks MSCI France Index, while EWD tracks MSCI Sweden Index. Their fees differ too: 0.50% for EWQ and 0.55% for EWD.
EWD currently has the higher Sharpe Ratio (1.26 vs 0.98), 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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