EWS vs. WIP
EWS (iShares MSCI Singapore ETF) and WIP (SPDR FTSE International Government Inflation-Protected Bond ETF) are both exchange-traded funds - EWS is a Asia Pacific Equities fund tracking the MSCI Singapore Index, while WIP is a Inflation-Protected Bonds fund tracking the FTSE International Inflation-Linked Securities Select (USD). Both are passively managed. Over the past 10 years, EWS returned 7.57%/yr vs 1.51%/yr for WIP. At a 0.36 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.
Performance
EWS vs. WIP - Performance Comparison
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Returns By Period
In the year-to-date period, EWS achieves a 4.29% return, which is significantly higher than WIP's 3.03% return. Over the past 10 years, EWS has outperformed WIP with an annualized return of 7.57%, while WIP has yielded a comparatively lower 1.51% annualized return.
EWS
- 1D
- 0.07%
- 1M
- -0.69%
- YTD
- 4.29%
- 6M
- 6.98%
- 1Y
- 13.77%
- 3Y*
- 20.03%
- 5Y*
- 8.63%
- 10Y*
- 7.57%
WIP
- 1D
- -0.33%
- 1M
- -1.95%
- YTD
- 3.03%
- 6M
- 4.34%
- 1Y
- 8.35%
- 3Y*
- 4.44%
- 5Y*
- -0.96%
- 10Y*
- 1.51%
EWS vs. WIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWS iShares MSCI Singapore ETF | 4.29% | 31.35% | 22.10% | 6.15% | -9.80% | 5.47% | -8.47% | 14.54% | -11.34% | 34.78% |
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 3.03% | 15.18% | -8.71% | 8.84% | -15.54% | -4.15% | 8.37% | 8.62% | -5.97% | 12.73% |
Correlation
The correlation between EWS and WIP is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2008 | 0.36 |
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Return for Risk
EWS vs. WIP — Risk / Return Rank
EWS
WIP
EWS vs. WIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Singapore ETF (EWS) and SPDR FTSE International Government Inflation-Protected Bond ETF (WIP). 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.
| EWS | WIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.16 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | 1.62 | +0.14 |
| Martin ratioReturn relative to average drawdown | 4.29 | 4.84 | -0.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EWS | WIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.95 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | -0.08 | +0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.15 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.12 | +0.03 |
Drawdowns
EWS vs. WIP - Drawdown Comparison
The maximum EWS drawdown since its inception was -75.00%, which is greater than WIP's maximum drawdown of -29.60%. Use the drawdown chart below to compare losses from any high point for EWS and WIP.
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Drawdown Indicators
| EWS | WIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.00% | -29.60% | -45.40% |
Max Drawdown (1Y)Largest decline over 1 year | -7.82% | -5.16% | -2.66% |
Max Drawdown (3Y)Largest decline over 3 years | -16.34% | -11.16% | -5.18% |
Max Drawdown (5Y)Largest decline over 5 years | -29.06% | -28.84% | -0.22% |
Max Drawdown (10Y)Largest decline over 10 years | -40.84% | -28.84% | -12.00% |
Current DrawdownCurrent decline from peak | -4.30% | -5.04% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -21.87% | -8.58% | -13.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 1.73% | +1.49% |
Volatility
EWS vs. WIP - Volatility Comparison
iShares MSCI Singapore ETF (EWS) has a higher volatility of 4.69% compared to SPDR FTSE International Government Inflation-Protected Bond ETF (WIP) at 3.11%. This indicates that EWS's price experiences larger fluctuations and is considered to be riskier than WIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWS | WIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.69% | 3.11% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 11.96% | 6.96% | +5.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.15% | 8.81% | +6.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.31% | 11.46% | +5.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.06% | 10.17% | +7.89% |
EWS vs. WIP - Expense Ratio Comparison
Both EWS and WIP have an expense ratio of 0.50%.
Dividends
EWS vs. WIP - Dividend Comparison
EWS's dividend yield for the trailing twelve months is around 3.93%, less than WIP's 5.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWS iShares MSCI Singapore ETF | 3.93% | 4.10% | 4.28% | 6.50% | 2.56% | 6.00% | 2.68% | 4.70% | 4.21% | 3.46% | 3.96% | 4.20% |
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 5.86% | 5.51% | 6.06% | 6.54% | 11.15% | 4.63% | 1.59% | 2.49% | 4.05% | 1.91% | 1.27% | 1.14% |
Frequently Asked Questions
EWS and WIP have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWS has higher volatility (4.69%) compared to WIP (3.11%). In terms of maximum drawdown, EWS dropped -75.00% vs WIP's -29.60%.
On 10-year performance, EWS leads with 7.57% vs 1.51% for WIP. Both ETFs have the same 0.50% expense ratio. On volatility, WIP has been the lower-risk option at 3.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EWS has performed better with a 7.57% return vs 1.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWS and WIP have the same expense ratio: 0.50% per year.
WIP has the higher dividend yield at 5.86%, compared with 3.93% for EWS.
EWS is categorized as Asia Pacific Equities, while WIP is Inflation-Protected Bonds. EWS tracks MSCI Singapore Index, while WIP tracks FTSE International Inflation-Linked Securities Select (USD). They also come from different issuers: iShares and State Street.
WIP currently has the higher Sharpe Ratio (0.95 vs 0.91), 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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