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EWQ vs. RFEU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWQ vs. RFEU

Last updated Jun 4, 2026

EWQ (iShares MSCI France ETF) and RFEU (First Trust RiverFront Dynamic Europe ETF) are both Europe Equities funds. EWQ is passively managed, while RFEU is actively managed. Over the past 10 years, EWQ returned 9.13%/yr vs 7.29%/yr for RFEU. A 0.79 correlation means they provide meaningful diversification when combined. EWQ charges 0.50%/yr vs 0.83%/yr for RFEU.

Performance

EWQ vs. RFEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI France ETF (EWQ) and First Trust RiverFront Dynamic Europe ETF (RFEU). 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 1.20% return, which is significantly lower than RFEU's 1.50% return. Over the past 10 years, EWQ has outperformed RFEU with an annualized return of 9.13%, while RFEU has yielded a comparatively lower 7.29% annualized return.

EWQ

1D
-1.19%
1M
2.85%
YTD
1.20%
6M
2.17%
1Y
9.25%
3Y*
9.50%
5Y*
6.30%
10Y*
9.13%

RFEU

1D
0.00%
1M
0.00%
YTD
1.50%
6M
4.04%
1Y
13.97%
3Y*
12.44%
5Y*
3.74%
10Y*
7.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWQ vs. RFEU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWQ
iShares MSCI France ETF		1.20%28.90%-5.63%21.71%-12.05%21.43%2.86%26.69%-12.90%29.11%
RFEU
First Trust RiverFront Dynamic Europe ETF		1.50%30.78%-1.78%16.19%-24.17%22.83%6.25%23.21%-17.57%26.58%

Correlation

The correlation between EWQ and RFEU is 0.60, 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

0.60

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

0.72

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

0.76

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

0.79

Correlation (All Time)
Calculated using the full available price history since Apr 15, 2016

0.79

The correlation between EWQ and RFEU shifts across timeframes, from 0.60 (1 year) to 0.79 (10 years), reflecting how their relationship changes across market environments.

EWQ vs. RFEU - Sectors Allocation Comparison

Sectors
EWQ
RFEU

Industrials

31.7%
15.4%

Financial Services

12.8%
18.9%

Consumer Cyclical

12.0%
10.6%

Healthcare

8.4%
13.3%

Consumer Defensive

8.3%
9.3%

Energy

8.0%
8.7%

Basic Materials

7.0%
1.2%

Technology

4.1%
12.5%

Communication Services

3.0%
3.8%

Utilities

2.6%
6.4%

Real Estate

1.4%

-

Industrials

EWQ
31.7%
RFEU
15.4%

Financial Services

EWQ
12.8%
RFEU
18.9%

Consumer Cyclical

EWQ
12.0%
RFEU
10.6%

Healthcare

EWQ
8.4%
RFEU
13.3%

Consumer Defensive

EWQ
8.3%
RFEU
9.3%

Energy

EWQ
8.0%
RFEU
8.7%

Basic Materials

EWQ
7.0%
RFEU
1.2%

Technology

EWQ
4.1%
RFEU
12.5%

Communication Services

EWQ
3.0%
RFEU
3.8%

Utilities

EWQ
2.6%
RFEU
6.4%

Real Estate

EWQ
1.4%
RFEU

-

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

First Trust RiverFront Dynamic Europe ETF

Often compared with EWQ:
EWQ vs. EWGEWQ vs. EPOLEWQ vs. EWIEWQ vs. EWLEWQ vs. FEZEWQ vs. EWOEWQ vs. EWN
Often compared with RFEU:
RFEU vs. FDDRFEU vs. SPMORFEU vs. ONEQRFEU vs. HEDJRFEU vs. VTAPXRFEU vs. VEUR.LRFEU vs. IEV

Return for Risk

EWQ vs. RFEU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWQ
EWQ Risk / Return Rank: 1717
Overall Rank
EWQ Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
EWQ Sortino Ratio Rank: 1717
Sortino Ratio Rank
EWQ Omega Ratio Rank: 1717
Omega Ratio Rank
EWQ Calmar Ratio Rank: 1717
Calmar Ratio Rank
EWQ Martin Ratio Rank: 1919
Martin Ratio Rank
RFEU
RFEU Risk / Return Rank: 5959
Overall Rank
RFEU Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
RFEU Sortino Ratio Rank: 5454
Sortino Ratio Rank
RFEU Omega Ratio Rank: 6565
Omega Ratio Rank
RFEU Calmar Ratio Rank: 6161
Calmar Ratio Rank
RFEU Martin Ratio Rank: 6161
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. RFEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI France ETF (EWQ) and First Trust RiverFront Dynamic Europe ETF (RFEU). 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.

EWQRFEUDifference
Sharpe ratioReturn per unit of total volatility
0.54
1.77

-1.23

Sortino ratioReturn per unit of downside risk
0.88
2.57

-1.69

Omega ratioGain probability vs. loss probability

1.11

1.39

-0.28

Calmar ratioReturn relative to maximum drawdown

0.67

2.99

-2.32

Martin ratioReturn relative to average drawdown

2.08

10.93

-8.85

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWQ vs. RFEU - Sharpe Ratio Comparison

The current EWQ Sharpe Ratio is 0.54, which is lower than the RFEU Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of EWQ and RFEU, 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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Sharpe Ratios by Period

EWQRFEUDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.54

1.77

-1.23

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.32

0.23

+0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.44

0.41

+0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.27

0.41

-0.14

Drawdowns

EWQ vs. RFEU - Drawdown Comparison

The maximum EWQ drawdown since its inception was -61.41%, which is greater than RFEU's maximum drawdown of -39.74%. Use the drawdown chart below to compare losses from any high point for EWQ and RFEU.

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Drawdown Indicators

EWQRFEUDifference

Max Drawdown

Largest peak-to-trough decline

-61.41%

-39.74%

-21.67%

Max Drawdown (1Y)

Largest decline over 1 year

-13.80%

-5.15%

-8.65%

Max Drawdown (3Y)

Largest decline over 3 years

-15.16%

-13.48%

-1.68%

Max Drawdown (5Y)

Largest decline over 5 years

-31.46%

-35.92%

+4.46%

Max Drawdown (10Y)

Largest decline over 10 years

-39.23%

-39.74%

+0.51%

Current Drawdown

Current decline from peak

-5.83%

-0.11%

-5.72%

Average Drawdown

Average peak-to-trough decline

-16.08%

-9.62%

-6.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.46%

1.35%

+3.11%

Volatility

EWQ vs. RFEU - Volatility Comparison

iShares MSCI France ETF (EWQ) has a higher volatility of 6.56% compared to First Trust RiverFront Dynamic Europe ETF (RFEU) at 0.00%. This indicates that EWQ's price experiences larger fluctuations and is considered to be riskier than RFEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWQRFEUDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.56%

0.00%

+6.56%

Volatility (6M)

Calculated over the trailing 6-month period

13.52%

4.43%

+9.09%

Volatility (1Y)

Calculated over the trailing 1-year period

17.15%

8.73%

+8.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.78%

16.77%

+3.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.81%

17.86%

+2.95%

EWQ vs. RFEU - Expense Ratio Comparison

EWQ has a 0.50% expense ratio, which is lower than RFEU's 0.83% expense ratio.

Dividends

EWQ vs. RFEU - Dividend Comparison

EWQ's dividend yield for the trailing twelve months is around 2.60%, less than RFEU's 2.83% yield.

PositionTTM20252024202320222021202020192018201720162015
EWQ
iShares MSCI France ETF		2.60%2.63%3.31%2.73%3.23%3.79%1.02%2.44%2.90%1.90%2.84%2.25%
RFEU
First Trust RiverFront Dynamic Europe ETF		2.83%2.87%5.45%3.37%4.98%1.82%2.32%3.08%2.84%1.35%3.16%0.00%

Frequently Asked Questions

EWQ and RFEU have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWQ has higher volatility (6.56%) compared to RFEU (0.00%). In terms of maximum drawdown, EWQ dropped -61.41% vs RFEU's -39.74%.

On 10-year performance, EWQ leads with 9.13% vs 7.29% for RFEU. On fees, EWQ is cheaper at 0.50% per year. On volatility, RFEU has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWQ has performed better with a 9.13% return vs 7.29%. 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 0.83% for RFEU.

RFEU has the higher dividend yield at 2.83%, compared with 2.60% for EWQ.

They also come from different issuers: iShares and First Trust. Their fees differ too: 0.50% for EWQ and 0.83% for RFEU.

RFEU currently has the higher Sharpe Ratio (1.77 vs 0.54), 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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