EWQ vs. RNRG

Last updated Aug 5, 2026

EWQ (iShares MSCI France ETF) and RNRG (Global X Funds Global X Renewable Energy Producers ETF) are both exchange-traded funds - EWQ is a Europe Equities fund tracking the MSCI France Index, while RNRG is a Alternative Energy Equities fund tracking the Indxx Renewable Energy Producers Index. Both are passively managed. Over the past 10 years, EWQ returned 10.16%/yr vs 2.43%/yr for RNRG. Their 0.51 correlation means they have sometimes moved together and sometimes differently. EWQ charges 0.50%/yr vs 0.65%/yr for RNRG.

Performance

EWQ vs. RNRG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI France ETF (EWQ) and Global X Funds Global X Renewable Energy Producers ETF (RNRG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EWQ achieves a 8.17% return, which is significantly higher than RNRG's 4.37% return. Over the past 10 years, EWQ has outperformed RNRG with an annualized return of 10.16%, while RNRG has yielded a comparatively lower 2.43% annualized return.

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%

RNRG

• 1D: 1.15%
• 1M: -2.24%
• 6M: -4.13%
• YTD: 4.37%
• 1Y: 17.54%
• 3Y*: 1.31%
• 5Y*: -5.57%
• 10Y*: 2.43%
• ALL TIME*: 0.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EWQ iShares MSCI France ETF	$16.77M	$14.69M	$16.24M
RNRG Global X Funds Global X Renewable Energy Producers ETF	$66.75K	$257.91K	$323.94K

EWQ vs. RNRG - 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%
RNRG Global X Funds Global X Renewable Energy Producers ETF	4.37%	29.61%	-22.00%	-12.82%	-15.30%	-12.78%	26.67%	37.04%	-6.22%	21.16%

Correlation

The correlation between EWQ and RNRG is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.48
Correlation (3Y) Balances recent behavior with more history.	0.51
Correlation (5Y) Shows whether the relationship held over a longer period.	0.58
Correlation (10Y) Provides a long-term view across more market conditions.	0.52
Correlation (All Time) Calculated using the full available price history since May 28, 2015	0.51

The correlation between EWQ and RNRG shifts across timeframes, from 0.48 (1 year) to 0.58 (5 years), reflecting how their relationship changes across market environments.

EWQ vs. RNRG - Sectors Allocation Comparison

Sectors	EWQ	RNRG
Industrials	33.1%	3.0%
Financial Services	13.4%	-
Consumer Cyclical	11.4%	-
Consumer Defensive	8.5%	-
Healthcare	8.5%	-
Energy	7.2%	-
Basic Materials	7.1%	1.7%
Technology	4.0%	2.5%
Communication Services	2.8%	-
Utilities	2.6%	92.8%
Real Estate	1.3%	-

Return for Risk

EWQ vs. RNRG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EWQ

EWQ Risk / Return Rank: 35
EWQ Sharpe Ratio Rank: 36
EWQ Sortino Ratio Rank: 35
EWQ Omega Ratio Rank: 34
EWQ Calmar Ratio Rank: 33
EWQ Martin Ratio Rank: 35

RNRG

RNRG Risk / Return Rank: 36
RNRG Sharpe Ratio Rank: 39
RNRG Sortino Ratio Rank: 38
RNRG Omega Ratio Rank: 36
RNRG Calmar Ratio Rank: 32
RNRG Martin Ratio Rank: 36

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EWQ vs. RNRG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI France ETF (EWQ) and Global X Funds Global X Renewable Energy Producers ETF (RNRG). 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	RNRG	Difference
Sharpe ratio: Return per unit of total volatility	0.98	1.09	-0.12
Sortino ratio: Return per unit of downside risk	1.46	1.58	-0.12
Omega ratio: Gain probability vs. loss probability	1.18	1.19	-0.01
Calmar ratio: Return relative to maximum drawdown	1.23	1.19	+0.03
Martin ratio: Return relative to average drawdown	3.68	3.93	-0.25

EWQ vs. RNRG - Sharpe Ratio Comparison

The current EWQ Sharpe Ratio is 0.98, which is comparable to the RNRG Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of EWQ and RNRG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EWQ vs. RNRG - Drawdown Comparison

The maximum EWQ drawdown since its inception was -61.41%, roughly equal to the maximum RNRG drawdown of -58.79%. Use the drawdown chart below to compare losses from any high point for EWQ and RNRG.

Drawdown Indicators

	EWQ	RNRG	Difference
Max Drawdown Largest peak-to-trough decline	-61.41%	-58.79%	-2.62%
Max Drawdown (1Y) Largest decline over 1 year	-13.80%	-14.75%	+0.95%
Max Drawdown (3Y) Largest decline over 3 years	-15.16%	-30.62%	+15.46%
Max Drawdown (5Y) Largest decline over 5 years	-31.46%	-52.17%	+20.71%
Max Drawdown (10Y) Largest decline over 10 years	-39.23%	-58.79%	+19.56%
Current Drawdown Current decline from peak	0.00%	-38.24%	+38.24%
Average Drawdown Average peak-to-trough decline	-16.01%	-24.61%	+8.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.59%	4.47%	+0.12%

Volatility

EWQ vs. RNRG - Volatility Comparison

The current volatility for iShares MSCI France ETF (EWQ) is 4.41%, while Global X Funds Global X Renewable Energy Producers ETF (RNRG) has a volatility of 4.93%. This indicates that EWQ experiences smaller price fluctuations and is considered to be less risky than RNRG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWQ	RNRG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	4.93%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	14.71%	12.87%	+1.84%
Volatility (1Y) Calculated over the trailing 1-year period	17.38%	16.15%	+1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.86%	20.14%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.40%	19.58%	+0.82%

EWQ vs. RNRG - Expense Ratio Comparison

EWQ has a 0.50% expense ratio, which is lower than RNRG's 0.65% expense ratio.

Dividends

EWQ vs. RNRG - Dividend Comparison

EWQ's dividend yield for the trailing twelve months is around 2.77%, more than RNRG's 1.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
RNRG Global X Funds Global X Renewable Energy Producers ETF	1.70%	1.50%	1.48%	1.44%	1.15%	1.10%	3.16%	2.97%	5.22%	4.14%	5.02%	3.48%

Frequently Asked Questions

Can I hold both EWQ and RNRG in my portfolio?

EWQ and RNRG have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWQ or RNRG?

RNRG has higher volatility (4.93%) compared to EWQ (4.41%). In terms of maximum drawdown, EWQ dropped -61.41% vs RNRG's -58.79%.

Which ETF is better, EWQ or RNRG?

On 10-year performance, EWQ leads with 10.16% vs 2.43% for RNRG. 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.

Which ETF has performed better, EWQ or RNRG?

Over the 10-year period, EWQ has performed better with a 10.16% return vs 2.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWQ or RNRG?

EWQ is cheaper with a 0.50% expense ratio, compared with 0.65% for RNRG.

Which ETF pays a higher dividend yield, EWQ or RNRG?

EWQ has the higher dividend yield at 2.77%, compared with 1.70% for RNRG.

What is the main difference between EWQ and RNRG?

EWQ is categorized as Europe Equities, while RNRG is Alternative Energy Equities. EWQ tracks MSCI France Index, while RNRG tracks Indxx Renewable Energy Producers Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.50% for EWQ and 0.65% for RNRG.

Which has better risk-adjusted returns?

RNRG currently has the higher Sharpe Ratio (1.09 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.