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EWS vs. EIS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWS vs. EIS

Last updated Jun 13, 2026

EWS (iShares MSCI Singapore ETF) and EIS (iShares MSCI Israel ETF) are both exchange-traded funds - EWS is a Asia Pacific Equities fund tracking the MSCI Singapore Index, while EIS is a Foreign Large Cap Equities fund tracking the MSCI Israel Capped Investable Market Index (Net). Both are passively managed. Over the past 10 years, EWS returned 7.88%/yr vs 12.35%/yr for EIS. A 0.54 correlation means they provide meaningful diversification when combined. EWS charges 0.50%/yr vs 0.59%/yr for EIS.

Performance

EWS vs. EIS - Performance Comparison

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

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Returns By Period

In the year-to-date period, EWS achieves a 5.96% return, which is significantly lower than EIS's 18.11% return. Over the past 10 years, EWS has underperformed EIS with an annualized return of 7.88%, while EIS has yielded a comparatively higher 12.35% annualized return.

EWS

1D
0.07%
1M
-0.82%
YTD
5.96%
6M
7.68%
1Y
17.42%
3Y*
20.28%
5Y*
8.93%
10Y*
7.88%

EIS

1D
1.32%
1M
-3.04%
YTD
18.11%
6M
18.71%
1Y
56.95%
3Y*
33.86%
5Y*
15.01%
10Y*
12.35%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWS vs. EIS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWS
iShares MSCI Singapore ETF		5.96%31.35%22.10%6.15%-9.80%5.47%-8.47%14.54%-11.34%34.78%
EIS
iShares MSCI Israel ETF		18.11%45.11%34.50%5.48%-27.05%22.83%12.01%20.93%-4.84%12.77%

Correlation

The correlation between EWS and EIS is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.39

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

0.44

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

0.51

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

0.51

Correlation (All Time)
Calculated using the full available price history since Mar 28, 2008

0.54

The correlation between EWS and EIS shifts across timeframes, from 0.39 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

EWS vs. EIS - Sectors Allocation Comparison

Sectors
EWS
EIS

Financial Services

52.2%
34.6%

Industrials

18.1%
10.9%

Real Estate

8.6%
9.1%

Utilities

4.7%
6.6%

Consumer Defensive

4.6%
2.3%

Communication Services

4.2%
2.7%

Technology

4.0%
17.8%

Consumer Cyclical

3.5%
2.5%

Basic Materials

-

1.8%

Energy

-

2.0%

Healthcare

-

9.8%

Financial Services

EWS
52.2%
EIS
34.6%

Industrials

EWS
18.1%
EIS
10.9%

Real Estate

EWS
8.6%
EIS
9.1%

Utilities

EWS
4.7%
EIS
6.6%

Consumer Defensive

EWS
4.6%
EIS
2.3%

Communication Services

EWS
4.2%
EIS
2.7%

Technology

EWS
4.0%
EIS
17.8%

Consumer Cyclical

EWS
3.5%
EIS
2.5%

Basic Materials

EWS

-

EIS
1.8%

Energy

EWS

-

EIS
2.0%

Healthcare

EWS

-

EIS
9.8%

Compare stocks, funds, or ETFs

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iShares MSCI Singapore ETF

iShares MSCI Israel ETF

Often compared with EWS:
EWS vs. EWHEWS vs. EWTEWS vs. EWJEWS vs. ASEAEWS vs. SMINEWS vs. EIDOEWS vs. FLGR
Often compared with EIS:
EIS vs. ISRAEIS vs. IZRLEIS vs. SPYEIS vs. VOOEIS vs. ITEQEIS vs. QQQEIS vs. EGPT

Return for Risk

EWS vs. EIS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWS
EWS Risk / Return Rank: 3939
Overall Rank
EWS Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
EWS Sortino Ratio Rank: 3636
Sortino Ratio Rank
EWS Omega Ratio Rank: 3535
Omega Ratio Rank
EWS Calmar Ratio Rank: 5151
Calmar Ratio Rank
EWS Martin Ratio Rank: 3939
Martin Ratio Rank
EIS
EIS Risk / Return Rank: 8585
Overall Rank
EIS Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
EIS Sortino Ratio Rank: 8585
Sortino Ratio Rank
EIS Omega Ratio Rank: 8080
Omega Ratio Rank
EIS Calmar Ratio Rank: 8989
Calmar Ratio Rank
EIS Martin Ratio Rank: 8686
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.

EWS vs. EIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Singapore ETF (EWS) and iShares MSCI Israel ETF (EIS). 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.

EWSEISDifference
Sharpe ratioReturn per unit of total volatility
1.15
2.41

-1.26

Sortino ratioReturn per unit of downside risk
1.69
3.29

-1.60

Omega ratioGain probability vs. loss probability

1.21

1.41

-0.20

Calmar ratioReturn relative to maximum drawdown

2.24

4.62

-2.38

Martin ratioReturn relative to average drawdown

5.40

15.86

-10.45

EWS vs. EIS - Sharpe Ratio Comparison

The current EWS Sharpe Ratio is 1.15, which is lower than the EIS Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of EWS and EIS, 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

EWS vs. EIS - Drawdown Comparison

The maximum EWS drawdown since its inception was -75.13%, which is greater than EIS's maximum drawdown of -51.94%. Use the drawdown chart below to compare losses from any high point for EWS and EIS.

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Drawdown Indicators

EWSEISDifference

Max Drawdown

Largest peak-to-trough decline

-75.13%

-51.94%

-23.19%

Max Drawdown (1Y)

Largest decline over 1 year

-7.82%

-12.40%

+4.58%

Max Drawdown (3Y)

Largest decline over 3 years

-16.34%

-24.10%

+7.76%

Max Drawdown (5Y)

Largest decline over 5 years

-29.06%

-41.88%

+12.82%

Max Drawdown (10Y)

Largest decline over 10 years

-40.84%

-41.88%

+1.04%

Current Drawdown

Current decline from peak

-2.77%

-5.61%

+2.84%

Average Drawdown

Average peak-to-trough decline

-21.98%

-13.89%

-8.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.23%

3.61%

-0.38%

Volatility

EWS vs. EIS - Volatility Comparison

The current volatility for iShares MSCI Singapore ETF (EWS) is 5.05%, while iShares MSCI Israel ETF (EIS) has a volatility of 9.80%. This indicates that EWS experiences smaller price fluctuations and is considered to be less risky than EIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWSEISDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.05%

9.80%

-4.75%

Volatility (6M)

Calculated over the trailing 6-month period

12.11%

17.62%

-5.51%

Volatility (1Y)

Calculated over the trailing 1-year period

15.24%

23.81%

-8.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.34%

22.06%

-4.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.04%

21.21%

-3.17%

EWS vs. EIS - Expense Ratio Comparison

EWS has a 0.50% expense ratio, which is lower than EIS's 0.59% expense ratio.

Dividends

EWS vs. EIS - Dividend Comparison

EWS's dividend yield for the trailing twelve months is around 3.87%, more than EIS's 1.22% yield.

PositionTTM20252024202320222021202020192018201720162015
EIS
iShares MSCI Israel ETF		1.22%1.44%1.38%1.39%1.66%1.04%0.16%2.06%0.87%2.02%1.78%2.55%
EWS
iShares MSCI Singapore ETF		3.87%4.10%4.28%6.50%2.56%6.00%2.68%4.70%4.21%3.46%3.96%4.20%

Frequently Asked Questions

EWS and EIS have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EIS has higher volatility (9.80%) compared to EWS (5.05%). In terms of maximum drawdown, EWS dropped -75.13% vs EIS's -51.94%.

On 10-year performance, EIS leads with 12.35% vs 7.88% for EWS. On fees, EWS is cheaper at 0.50% per year. On volatility, EWS has been the lower-risk option at 5.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EIS has performed better with a 12.35% return vs 7.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWS is cheaper with a 0.50% expense ratio, compared with 0.59% for EIS.

EWS has the higher dividend yield at 3.87%, compared with 1.22% for EIS.

EWS is categorized as Asia Pacific Equities, while EIS is Foreign Large Cap Equities. EWS tracks MSCI Singapore Index, while EIS tracks MSCI Israel Capped Investable Market Index (Net). Their fees differ too: 0.50% for EWS and 0.59% for EIS.

EIS currently has the higher Sharpe Ratio (2.41 vs 1.15), 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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