EWU vs. EWQ
EWU (iShares MSCI United Kingdom ETF) and EWQ (iShares MSCI France ETF) are both Europe Equities funds from iShares - EWU tracks the MSCI United Kingdom Index (Net) while EWQ tracks the MSCI France Index. Both are passively managed. Over the past 10 years, EWU returned 8.54%/yr vs 10.16%/yr for EWQ. Their 0.73 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.50% expense ratio.
Performance
EWU vs. EWQ - Performance Comparison
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Returns By Period
In the year-to-date period, EWU achieves a 11.49% return, which is significantly higher than EWQ's 8.17% return. Over the past 10 years, EWU has underperformed EWQ with an annualized return of 8.54%, while EWQ has yielded a comparatively higher 10.16% annualized return.
EWU
- 1D
- 0.23%
- 1M
- 2.50%
- 6M
- 5.51%
- YTD
- 11.49%
- 1Y
- 24.30%
- 3Y*
- 18.84%
- 5Y*
- 12.00%
- 10Y*
- 8.54%
- ALL TIME*
- 6.08%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.77M | $14.69M | $16.24M | |
| $58.72M | $68.87M | $65.85M |
EWU vs. EWQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWU iShares MSCI United Kingdom ETF | 11.49% | 34.95% | 6.74% | 12.40% | -4.39% | 18.19% | -11.80% | 21.29% | -14.30% | 21.54% |
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% |
Correlation
The correlation between EWU and EWQ is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 1996 | 0.73 |
The correlation between EWU and EWQ has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.
EWU vs. EWQ - Sectors Allocation Comparison
Sectors
EWU
EWQ
Financial Services
Industrials
Consumer Defensive
Healthcare
Energy
Basic Materials
Utilities
Consumer Cyclical
Communication Services
Real Estate
Technology
Financial Services
EWU
EWQ
Industrials
EWU
EWQ
Consumer Defensive
EWU
EWQ
Healthcare
EWU
EWQ
Energy
EWU
EWQ
Basic Materials
EWU
EWQ
Utilities
EWU
EWQ
Consumer Cyclical
EWU
EWQ
Communication Services
EWU
EWQ
Real Estate
EWU
EWQ
Technology
EWU
EWQ
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Return for Risk
EWU vs. EWQ — Risk / Return Rank
EWU
EWQ
EWU vs. EWQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI United Kingdom ETF (EWU) and iShares MSCI France ETF (EWQ). 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.
| EWU | EWQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.18 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 1.23 | +1.23 |
| Martin ratioReturn relative to average drawdown | 8.07 | 3.68 | +4.39 |
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Drawdowns
EWU vs. EWQ - Drawdown Comparison
The maximum EWU drawdown since its inception was -63.99%, roughly equal to the maximum EWQ drawdown of -61.41%. Use the drawdown chart below to compare losses from any high point for EWU and EWQ.
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Drawdown Indicators
| EWU | EWQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.99% | -61.41% | -2.58% |
Max Drawdown (1Y)Largest decline over 1 year | -9.92% | -13.80% | +3.88% |
Max Drawdown (3Y)Largest decline over 3 years | -12.63% | -15.16% | +2.53% |
Max Drawdown (5Y)Largest decline over 5 years | -24.91% | -31.46% | +6.55% |
Max Drawdown (10Y)Largest decline over 10 years | -43.33% | -39.23% | -4.10% |
Current DrawdownCurrent decline from peak | -0.70% | 0.00% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -14.10% | -16.01% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 4.59% | -1.57% |
Volatility
EWU vs. EWQ - Volatility Comparison
The current volatility for iShares MSCI United Kingdom ETF (EWU) is 3.70%, while iShares MSCI France ETF (EWQ) has a volatility of 4.41%. This indicates that EWU experiences smaller price fluctuations and is considered to be less risky than EWQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWU | EWQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.70% | 4.41% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 12.88% | 14.71% | -1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.95% | 17.38% | -2.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.39% | 19.86% | -3.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 20.40% | -2.17% |
EWU vs. EWQ - Expense Ratio Comparison
Both EWU and EWQ have an expense ratio of 0.50%.
Dividends
EWU vs. EWQ - Dividend Comparison
EWU's dividend yield for the trailing twelve months is around 3.09%, more than EWQ's 2.77% 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% |
EWU iShares MSCI United Kingdom ETF | 3.09% | 3.73% | 4.16% | 4.14% | 3.43% | 4.35% | 2.48% | 4.13% | 4.98% | 3.91% | 3.97% | 4.11% |
Frequently Asked Questions
EWU and EWQ have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWQ has higher volatility (4.41%) compared to EWU (3.70%). In terms of maximum drawdown, EWU dropped -63.99% vs EWQ's -61.41%.
On 10-year performance, EWQ leads with 10.16% vs 8.54% for EWU. Both ETFs have the same 0.50% expense ratio. On volatility, EWU has been the lower-risk option at 3.70%. 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 10.16% return vs 8.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWU and EWQ have the same expense ratio: 0.50% per year.
EWU has the higher dividend yield at 3.09%, compared with 2.77% for EWQ.
EWU tracks MSCI United Kingdom Index (Net), while EWQ tracks MSCI France Index.
EWU currently has the higher Sharpe Ratio (1.63 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.
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