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EWQ vs. EWN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWQ vs. EWN

Last updated Jun 14, 2026

EWQ (iShares MSCI France ETF) and EWN (iShares MSCI Netherlands ETF) are both Europe Equities funds from iShares - EWQ tracks the MSCI France Index while EWN tracks the MSCI Netherlands Investable Market Index. Both are passively managed. Over the past 10 years, EWQ returned 10.24%/yr vs 14.08%/yr for EWN. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.

Performance

EWQ vs. EWN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI France ETF (EWQ) and iShares MSCI Netherlands ETF (EWN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EWQ achieves a 3.62% return, which is significantly lower than EWN's 22.27% return. Over the past 10 years, EWQ has underperformed EWN with an annualized return of 10.24%, while EWN has yielded a comparatively higher 14.08% annualized return.

EWQ

1D
0.17%
1M
5.57%
YTD
3.62%
6M
4.40%
1Y
11.89%
3Y*
9.90%
5Y*
6.62%
10Y*
10.24%

EWN

1D
0.00%
1M
8.19%
YTD
22.27%
6M
23.54%
1Y
37.02%
3Y*
20.74%
5Y*
9.41%
10Y*
14.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWQ vs. EWN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWQ
iShares MSCI France ETF		3.62%28.90%-5.63%21.71%-12.05%21.43%2.86%26.69%-12.90%29.11%
EWN
iShares MSCI Netherlands ETF		22.27%34.87%1.67%22.08%-24.43%22.74%23.23%32.45%-15.37%33.73%

Correlation

The correlation between EWQ and EWN is 0.74, 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

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.83

Correlation (10Y)
Calculated over the trailing 10-year period

0.84

Correlation (All Time)
Calculated using the full available price history since Apr 1, 1996

0.79

The correlation between EWQ and EWN has been stable across timeframes, ranging from 0.74 to 0.84 - a consistent structural relationship.

EWQ vs. EWN - Sectors Allocation Comparison

Sectors
EWQ
EWN

Industrials

31.6%
11.4%

Financial Services

12.6%
17.9%

Consumer Cyclical

11.5%
5.9%

Healthcare

8.9%
2.5%

Consumer Defensive

8.3%
10.1%

Energy

8.3%
2.0%

Basic Materials

7.1%
5.1%

Technology

4.2%
34.6%

Communication Services

3.0%
9.6%

Utilities

2.6%

-

Real Estate

1.3%
0.7%

Industrials

EWQ
31.6%
EWN
11.4%

Financial Services

EWQ
12.6%
EWN
17.9%

Consumer Cyclical

EWQ
11.5%
EWN
5.9%

Healthcare

EWQ
8.9%
EWN
2.5%

Consumer Defensive

EWQ
8.3%
EWN
10.1%

Energy

EWQ
8.3%
EWN
2.0%

Basic Materials

EWQ
7.1%
EWN
5.1%

Technology

EWQ
4.2%
EWN
34.6%

Communication Services

EWQ
3.0%
EWN
9.6%

Utilities

EWQ
2.6%
EWN

-

Real Estate

EWQ
1.3%
EWN
0.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI France ETF

iShares MSCI Netherlands ETF

Often compared with EWQ:
EWQ vs. EWGEWQ vs. EPOLEWQ vs. EWIEWQ vs. EWLEWQ vs. FEZEWQ vs. EWOEWQ vs. EIRL
Often compared with EWN:
EWN vs. EDENEWN vs. FEZEWN vs. EWCEWN vs. EWDEWN vs. VOOEWN vs. ICLNEWN vs. XLE

Return for Risk

EWQ vs. EWN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWQ
EWQ Risk / Return Rank: 2020
Overall Rank
EWQ Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
EWQ Sortino Ratio Rank: 1919
Sortino Ratio Rank
EWQ Omega Ratio Rank: 1919
Omega Ratio Rank
EWQ Calmar Ratio Rank: 1919
Calmar Ratio Rank
EWQ Martin Ratio Rank: 2121
Martin Ratio Rank
EWN
EWN Risk / Return Rank: 5757
Overall Rank
EWN Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
EWN Sortino Ratio Rank: 5656
Sortino Ratio Rank
EWN Omega Ratio Rank: 5252
Omega Ratio Rank
EWN Calmar Ratio Rank: 5959
Calmar Ratio Rank
EWN Martin Ratio Rank: 6262
Martin Ratio Rank
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.

EWQ vs. EWN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI France ETF (EWQ) and iShares MSCI Netherlands ETF (EWN). 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.

EWQEWNDifference
Sharpe ratioReturn per unit of total volatility
0.57
1.65

-1.08

Sortino ratioReturn per unit of downside risk
0.92
2.38

-1.46

Omega ratioGain probability vs. loss probability

1.11

1.29

-0.18

Calmar ratioReturn relative to maximum drawdown

0.73

2.58

-1.86

Martin ratioReturn relative to average drawdown

2.21

9.78

-7.57

EWQ vs. EWN - Sharpe Ratio Comparison

The current EWQ Sharpe Ratio is 0.57, which is lower than the EWN Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of EWQ and EWN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EWQ vs. EWN - Drawdown Comparison

The maximum EWQ drawdown since its inception was -61.41%, smaller than the maximum EWN drawdown of -65.22%. Use the drawdown chart below to compare losses from any high point for EWQ and EWN.

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Drawdown Indicators

EWQEWNDifference

Max Drawdown

Largest peak-to-trough decline

-61.41%

-65.22%

+3.81%

Max Drawdown (1Y)

Largest decline over 1 year

-13.80%

-13.24%

-0.56%

Max Drawdown (3Y)

Largest decline over 3 years

-15.16%

-19.77%

+4.61%

Max Drawdown (5Y)

Largest decline over 5 years

-31.46%

-43.57%

+12.11%

Max Drawdown (10Y)

Largest decline over 10 years

-39.23%

-43.57%

+4.34%

Current Drawdown

Current decline from peak

-3.58%

0.00%

-3.58%

Average Drawdown

Average peak-to-trough decline

-16.07%

-16.33%

+0.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.54%

3.51%

+1.03%

Volatility

EWQ vs. EWN - Volatility Comparison

The current volatility for iShares MSCI France ETF (EWQ) is 6.02%, while iShares MSCI Netherlands ETF (EWN) has a volatility of 8.11%. This indicates that EWQ experiences smaller price fluctuations and is considered to be less risky than EWN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWQEWNDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.02%

8.11%

-2.09%

Volatility (6M)

Calculated over the trailing 6-month period

14.06%

17.61%

-3.55%

Volatility (1Y)

Calculated over the trailing 1-year period

17.62%

20.73%

-3.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.85%

23.06%

-3.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.81%

21.42%

-0.61%

EWQ vs. EWN - Expense Ratio Comparison

Both EWQ and EWN have an expense ratio of 0.50%.

Dividends

EWQ vs. EWN - Dividend Comparison

EWQ's dividend yield for the trailing twelve months is around 2.54%, less than EWN's 4.12% yield.

PositionTTM20252024202320222021202020192018201720162015
EWN
iShares MSCI Netherlands ETF		4.12%5.03%2.18%1.79%1.98%1.01%0.78%2.57%2.40%1.68%2.71%1.92%
EWQ
iShares MSCI France ETF		2.54%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 EWN have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWN has higher volatility (8.11%) compared to EWQ (6.02%). In terms of maximum drawdown, EWQ dropped -61.41% vs EWN's -65.22%.

On 10-year performance, EWN leads with 14.08% vs 10.24% for EWQ. Both ETFs have the same 0.50% expense ratio. On volatility, EWQ has been the lower-risk option at 6.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWN has performed better with a 14.08% return vs 10.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWQ and EWN have the same expense ratio: 0.50% per year.

EWN has the higher dividend yield at 4.12%, compared with 2.54% for EWQ.

EWQ tracks MSCI France Index, while EWN tracks MSCI Netherlands Investable Market Index.

EWN currently has the higher Sharpe Ratio (1.65 vs 0.57), 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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