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EWU vs. IVV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWU vs. IVV

Last updated Jun 5, 2026

EWU (iShares MSCI United Kingdom ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - EWU is a Europe Equities fund tracking the MSCI United Kingdom Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, EWU returned 7.86%/yr vs 15.53%/yr for IVV. A 0.70 correlation means they provide meaningful diversification when combined. EWU charges 0.50%/yr vs 0.03%/yr for IVV.

Performance

EWU vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI United Kingdom ETF (EWU) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EWU achieves a 6.59% return, which is significantly lower than IVV's 11.38% return. Over the past 10 years, EWU has underperformed IVV with an annualized return of 7.86%, while IVV has yielded a comparatively higher 15.53% annualized return.

EWU

1D
0.99%
1M
0.93%
YTD
6.59%
6M
10.05%
1Y
21.33%
3Y*
17.73%
5Y*
10.86%
10Y*
7.86%

IVV

1D
0.47%
1M
4.66%
YTD
11.38%
6M
11.30%
1Y
28.64%
3Y*
22.69%
5Y*
13.99%
10Y*
15.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWU vs. IVV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWU
iShares MSCI United Kingdom ETF		6.59%34.95%6.74%12.40%-4.39%18.19%-11.80%21.29%-14.30%21.54%
IVV
iShares Core S&P 500 ETF		11.38%17.85%24.93%26.31%-18.16%28.76%18.40%31.07%-4.49%21.75%

Correlation

The correlation between EWU and IVV is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.63

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

0.59

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

0.63

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

0.67

Correlation (All Time)
Calculated using the full available price history since May 22, 2000

0.70

The correlation between EWU and IVV shifts across timeframes, from 0.59 (3 years) to 0.70 (all time), reflecting how their relationship changes across market environments.

EWU vs. IVV - Sectors Allocation Comparison

Sectors
EWU
IVV

Financial Services

26.0%
11.8%

Consumer Defensive

14.2%
4.9%

Healthcare

13.9%
8.5%

Industrials

12.1%
8.3%

Energy

11.0%
3.5%

Basic Materials

9.3%
1.8%

Utilities

5.1%
2.4%

Consumer Cyclical

4.0%
10.1%

Communication Services

2.4%
11.2%

Technology

0.6%
35.6%

Real Estate

0.6%
1.9%

Financial Services

EWU
26.0%
IVV
11.8%

Consumer Defensive

EWU
14.2%
IVV
4.9%

Healthcare

EWU
13.9%
IVV
8.5%

Industrials

EWU
12.1%
IVV
8.3%

Energy

EWU
11.0%
IVV
3.5%

Basic Materials

EWU
9.3%
IVV
1.8%

Utilities

EWU
5.1%
IVV
2.4%

Consumer Cyclical

EWU
4.0%
IVV
10.1%

Communication Services

EWU
2.4%
IVV
11.2%

Technology

EWU
0.6%
IVV
35.6%

Real Estate

EWU
0.6%
IVV
1.9%

Compare stocks, funds, or ETFs

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iShares MSCI United Kingdom ETF

iShares Core S&P 500 ETF

Often compared with EWU:
EWU vs. FLGBEWU vs. EWUSEWU vs. SPYEWU vs. FEZEWU vs. FKUEWU vs. BNDWEWU vs. VOO
Often compared with IVV:
IVV vs. VOOIVV vs. SPYIVV vs. FXAIXIVV vs. QQQIVV vs. VTIIVV vs. IOOIVV vs. CSPX.L

Return for Risk

EWU vs. IVV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWU
EWU Risk / Return Rank: 4444
Overall Rank
EWU Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
EWU Sortino Ratio Rank: 4343
Sortino Ratio Rank
EWU Omega Ratio Rank: 4141
Omega Ratio Rank
EWU Calmar Ratio Rank: 4444
Calmar Ratio Rank
EWU Martin Ratio Rank: 4848
Martin Ratio Rank
IVV
IVV Risk / Return Rank: 7474
Overall Rank
IVV Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
IVV Sortino Ratio Rank: 7575
Sortino Ratio Rank
IVV Omega Ratio Rank: 7575
Omega Ratio Rank
IVV Calmar Ratio Rank: 6666
Calmar Ratio Rank
IVV Martin Ratio Rank: 7979
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.

EWU vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI United Kingdom ETF (EWU) and iShares Core S&P 500 ETF (IVV). 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.

EWUIVVDifference
Sharpe ratioReturn per unit of total volatility
1.49
2.44

-0.95

Sortino ratioReturn per unit of downside risk
2.12
3.31

-1.20

Omega ratioGain probability vs. loss probability

1.26

1.44

-0.18

Calmar ratioReturn relative to maximum drawdown

2.16

3.24

-1.08

Martin ratioReturn relative to average drawdown

7.80

15.05

-7.24

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWU vs. IVV - Sharpe Ratio Comparison

The current EWU Sharpe Ratio is 1.49, which is lower than the IVV Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of EWU and IVV, 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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Sharpe Ratios by Period

EWUIVVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.49

2.44

-0.95

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.83

-0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.42

0.86

-0.44

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

0.45

-0.19

Drawdowns

EWU vs. IVV - Drawdown Comparison

The maximum EWU drawdown since its inception was -63.99%, which is greater than IVV's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for EWU and IVV.

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Drawdown Indicators

EWUIVVDifference

Max Drawdown

Largest peak-to-trough decline

-63.99%

-55.25%

-8.74%

Max Drawdown (1Y)

Largest decline over 1 year

-9.92%

-8.89%

-1.03%

Max Drawdown (3Y)

Largest decline over 3 years

-12.63%

-18.75%

+6.12%

Max Drawdown (5Y)

Largest decline over 5 years

-24.91%

-24.53%

-0.38%

Max Drawdown (10Y)

Largest decline over 10 years

-43.33%

-33.90%

-9.43%

Current Drawdown

Current decline from peak

-3.70%

-0.29%

-3.41%

Average Drawdown

Average peak-to-trough decline

-14.16%

-10.78%

-3.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.74%

1.91%

+0.83%

Volatility

EWU vs. IVV - Volatility Comparison

iShares MSCI United Kingdom ETF (EWU) has a higher volatility of 5.64% compared to iShares Core S&P 500 ETF (IVV) at 2.83%. This indicates that EWU's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWUIVVDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.64%

2.83%

+2.81%

Volatility (6M)

Calculated over the trailing 6-month period

12.33%

8.90%

+3.43%

Volatility (1Y)

Calculated over the trailing 1-year period

14.40%

11.80%

+2.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.43%

16.88%

-0.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.84%

18.05%

+0.79%

EWU vs. IVV - Expense Ratio Comparison

EWU has a 0.50% expense ratio, which is higher than IVV's 0.03% expense ratio.

Dividends

EWU vs. IVV - Dividend Comparison

EWU's dividend yield for the trailing twelve months is around 3.50%, more than IVV's 1.06% yield.

PositionTTM20252024202320222021202020192018201720162015
EWU
iShares MSCI United Kingdom ETF		3.50%3.73%4.16%4.14%3.43%4.35%2.48%4.13%4.98%3.91%3.97%4.11%
IVV
iShares Core S&P 500 ETF		1.06%1.17%1.30%1.44%1.66%1.20%1.57%1.85%2.21%1.75%2.01%2.27%

Frequently Asked Questions

EWU and IVV have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWU has higher volatility (5.64%) compared to IVV (2.83%). In terms of maximum drawdown, EWU dropped -63.99% vs IVV's -55.25%.

On 10-year performance, IVV leads with 15.53% vs 7.86% for EWU. On fees, IVV is cheaper at 0.03% per year. On volatility, IVV has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IVV has performed better with a 15.53% return vs 7.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IVV is cheaper with a 0.03% expense ratio, compared with 0.50% for EWU.

EWU has the higher dividend yield at 3.50%, compared with 1.06% for IVV.

EWU is categorized as Europe Equities, while IVV is S&P 500. EWU tracks MSCI United Kingdom Index, while IVV tracks S&P 500 Index. Their fees differ too: 0.50% for EWU and 0.03% for IVV.

IVV currently has the higher Sharpe Ratio (2.44 vs 1.49), 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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