EWS vs. MSFO
EWS (iShares MSCI Singapore ETF) and MSFO (YieldMax MSFT Option Income Strategy ETF ) are both exchange-traded funds - EWS is a Asia Pacific Equities fund tracking the MSCI Singapore Index, while MSFO is a Options Trading fund actively managed by YieldMax. EWS is passively managed, while MSFO is actively managed. Over the past year, EWS returned 18.15% vs -13.71% for MSFO. At a 0.27 correlation, their price movements are largely independent. EWS charges 0.50%/yr vs 0.99%/yr for MSFO.
Performance
EWS vs. MSFO - Performance Comparison
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Returns By Period
In the year-to-date period, EWS achieves a 5.96% return, which is significantly higher than MSFO's -16.15% return.
EWS
- 1D
- 0.07%
- 1M
- 0.24%
- YTD
- 5.96%
- 6M
- 7.68%
- 1Y
- 18.15%
- 3Y*
- 20.28%
- 5Y*
- 8.93%
- 10Y*
- 7.88%
MSFO
- 1D
- 0.02%
- 1M
- -5.33%
- YTD
- -16.15%
- 6M
- -15.35%
- 1Y
- -13.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EWS vs. MSFO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EWS iShares MSCI Singapore ETF | 5.96% | 31.35% | 22.10% | 6.47% |
MSFO YieldMax MSFT Option Income Strategy ETF
| -16.15% | 15.69% | 10.34% | 18.74% |
Correlation
The correlation between EWS and MSFO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2023 | 0.27 |
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Return for Risk
EWS vs. MSFO — Risk / Return Rank
EWS
MSFO
EWS vs. MSFO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Singapore ETF (EWS) and YieldMax MSFT Option Income Strategy ETF (MSFO). 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.
| EWS | MSFO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.78 | ||
| Sortino ratioReturn per unit of downside risk | +2.44 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.90 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | -0.47 | +2.71 |
| Martin ratioReturn relative to average drawdown | 5.40 | -1.02 | +6.42 |
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Drawdowns
EWS vs. MSFO - Drawdown Comparison
The maximum EWS drawdown since its inception was -75.13%, which is greater than MSFO's maximum drawdown of -29.29%. Use the drawdown chart below to compare losses from any high point for EWS and MSFO.
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Drawdown Indicators
| EWS | MSFO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.13% | -29.29% | -45.84% |
Max Drawdown (1Y)Largest decline over 1 year | -7.82% | -29.29% | +21.47% |
Max Drawdown (3Y)Largest decline over 3 years | -16.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.84% | — | — |
Current DrawdownCurrent decline from peak | -2.77% | -23.17% | +20.40% |
Average DrawdownAverage peak-to-trough decline | -21.98% | -6.69% | -15.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 13.60% | -10.37% |
Volatility
EWS vs. MSFO - Volatility Comparison
The current volatility for iShares MSCI Singapore ETF (EWS) is 5.05%, while YieldMax MSFT Option Income Strategy ETF (MSFO) has a volatility of 8.81%. This indicates that EWS experiences smaller price fluctuations and is considered to be less risky than MSFO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWS | MSFO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.05% | 8.81% | -3.76% |
Volatility (6M)Calculated over the trailing 6-month period | 12.11% | 19.32% | -7.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.24% | 21.81% | -6.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.34% | 19.81% | -2.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.04% | 19.81% | -1.77% |
EWS vs. MSFO - Expense Ratio Comparison
EWS has a 0.50% expense ratio, which is lower than MSFO's 0.99% expense ratio.
Dividends
EWS vs. MSFO - Dividend Comparison
EWS's dividend yield for the trailing twelve months is around 3.87%, less than MSFO's 44.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MSFO YieldMax MSFT Option Income Strategy ETF
| 44.05% | 33.91% | 35.15% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EWS and MSFO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFO has higher volatility (8.81%) compared to EWS (5.05%). In terms of maximum drawdown, EWS dropped -75.13% vs MSFO's -29.29%.
On 1-year performance, EWS leads with 18.15% vs -13.71% for MSFO. 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 1-year period, EWS has performed better with a 18.15% return vs -13.71%. 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 0.99% for MSFO.
MSFO has the higher dividend yield at 44.05%, compared with 3.87% for EWS.
EWS is categorized as Asia Pacific Equities, while MSFO is Options Trading. They also come from different issuers: iShares and YieldMax. Their fees differ too: 0.50% for EWS and 0.99% for MSFO.
EWS currently has the higher Sharpe Ratio (1.15 vs -0.64), 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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