PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EWUS vs. EWU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWUS vs. EWU

Last updated Jun 24, 2026

EWUS (iShares MSCI United Kingdom Small-Cap ETF) and EWU (iShares MSCI United Kingdom ETF) are both Europe Equities funds from iShares - EWUS tracks the MSCI United Kingdom Small Cap Index while EWU tracks the MSCI United Kingdom Index. Both are passively managed. Over the past 10 years, EWUS returned 4.97%/yr vs 8.63%/yr for EWU. A 0.73 correlation means they provide meaningful diversification when combined. EWUS charges 0.59%/yr vs 0.50%/yr for EWU.

Performance

EWUS vs. EWU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI United Kingdom Small-Cap ETF (EWUS) and iShares MSCI United Kingdom ETF (EWU). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, EWUS achieves a -0.31% return, which is significantly lower than EWU's 5.10% return. Over the past 10 years, EWUS has underperformed EWU with an annualized return of 4.97%, while EWU has yielded a comparatively higher 8.63% annualized return.

EWUS

1D
-1.53%
1M
-3.03%
YTD
-0.31%
6M
0.01%
1Y
5.85%
3Y*
12.78%
5Y*
0.40%
10Y*
4.97%

EWU

1D
-0.26%
1M
-1.84%
YTD
5.10%
6M
5.10%
1Y
20.29%
3Y*
16.96%
5Y*
10.80%
10Y*
8.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWUS vs. EWU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWUS
iShares MSCI United Kingdom Small-Cap ETF		-0.31%25.13%3.55%15.41%-31.19%12.55%-2.58%35.16%-20.16%32.17%
EWU
iShares MSCI United Kingdom ETF		5.10%34.95%6.74%12.40%-4.39%18.19%-11.80%21.29%-14.30%21.54%

Correlation

The correlation between EWUS and EWU is 0.79, 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

0.79

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

0.80

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

0.82

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

0.78

Correlation (All Time)
Calculated using the full available price history since Jan 26, 2012

0.73

The correlation between EWUS and EWU has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.

EWUS vs. EWU - Sectors Allocation Comparison

Sectors
EWUS
EWU

Financial Services

23.1%
25.7%

Industrials

20.4%
13.2%

Consumer Cyclical

18.0%
3.8%

Real Estate

8.4%
0.6%

Communication Services

6.8%
2.3%

Basic Materials

6.3%
9.5%

Consumer Defensive

3.9%
13.1%

Technology

3.9%
0.7%

Energy

3.3%
11.6%

Healthcare

3.1%
14.5%

Utilities

2.8%
5.1%

Financial Services

EWUS
23.1%
EWU
25.7%

Industrials

EWUS
20.4%
EWU
13.2%

Consumer Cyclical

EWUS
18.0%
EWU
3.8%

Real Estate

EWUS
8.4%
EWU
0.6%

Communication Services

EWUS
6.8%
EWU
2.3%

Basic Materials

EWUS
6.3%
EWU
9.5%

Consumer Defensive

EWUS
3.9%
EWU
13.1%

Technology

EWUS
3.9%
EWU
0.7%

Energy

EWUS
3.3%
EWU
11.6%

Healthcare

EWUS
3.1%
EWU
14.5%

Utilities

EWUS
2.8%
EWU
5.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI United Kingdom Small-Cap ETF

iShares MSCI United Kingdom ETF

Often compared with EWUS:
EWUS vs. HSCZEWUS vs. SCJEWUS vs. EWZSEWUS vs. SCZEWUS vs. SMINEWUS vs. QQQEWUS vs. IJR
Often compared with EWU:
EWU vs. FLGBEWU vs. SPYEWU vs. FEZEWU vs. FKUEWU vs. BNDWEWU vs. VOOEWU vs. VEA

Return for Risk

EWUS vs. EWU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWUS
EWUS Risk / Return Rank: 1313
Overall Rank
EWUS Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
EWUS Sortino Ratio Rank: 1313
Sortino Ratio Rank
EWUS Omega Ratio Rank: 1212
Omega Ratio Rank
EWUS Calmar Ratio Rank: 1313
Calmar Ratio Rank
EWUS Martin Ratio Rank: 1414
Martin Ratio Rank
EWU
EWU Risk / Return Rank: 4242
Overall Rank
EWU Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
EWU Sortino Ratio Rank: 4141
Sortino Ratio Rank
EWU Omega Ratio Rank: 3939
Omega Ratio Rank
EWU Calmar Ratio Rank: 4343
Calmar Ratio Rank
EWU Martin Ratio Rank: 4545
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.

EWUS vs. EWU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI United Kingdom Small-Cap ETF (EWUS) and iShares MSCI United Kingdom ETF (EWU). 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.

EWUSEWUDifference
Sharpe ratioReturn per unit of total volatility
0.33
1.39

-1.06

Sortino ratioReturn per unit of downside risk
0.61
2.00

-1.40

Omega ratioGain probability vs. loss probability

1.07

1.24

-0.18

Calmar ratioReturn relative to maximum drawdown

0.39

2.05

-1.67

Martin ratioReturn relative to average drawdown

1.22

7.03

-5.81

EWUS vs. EWU - Sharpe Ratio Comparison

The current EWUS Sharpe Ratio is 0.33, which is lower than the EWU Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of EWUS and EWU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

EWUS vs. EWU - Drawdown Comparison

The maximum EWUS drawdown since its inception was -49.33%, smaller than the maximum EWU drawdown of -63.99%. Use the drawdown chart below to compare losses from any high point for EWUS and EWU.

Loading charts...

Drawdown Indicators

EWUSEWUDifference

Max Drawdown

Largest peak-to-trough decline

-49.33%

-63.99%

+14.66%

Max Drawdown (1Y)

Largest decline over 1 year

-15.21%

-9.92%

-5.29%

Max Drawdown (3Y)

Largest decline over 3 years

-19.84%

-12.63%

-7.21%

Max Drawdown (5Y)

Largest decline over 5 years

-48.14%

-24.91%

-23.23%

Max Drawdown (10Y)

Largest decline over 10 years

-49.33%

-43.33%

-6.00%

Current Drawdown

Current decline from peak

-7.35%

-5.05%

-2.30%

Average Drawdown

Average peak-to-trough decline

-13.05%

-14.15%

+1.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.82%

2.89%

+1.93%

Volatility

EWUS vs. EWU - Volatility Comparison

iShares MSCI United Kingdom Small-Cap ETF (EWUS) has a higher volatility of 4.96% compared to iShares MSCI United Kingdom ETF (EWU) at 4.04%. This indicates that EWUS's price experiences larger fluctuations and is considered to be riskier than EWU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

EWUSEWUDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.96%

4.04%

+0.92%

Volatility (6M)

Calculated over the trailing 6-month period

14.97%

12.59%

+2.38%

Volatility (1Y)

Calculated over the trailing 1-year period

18.14%

14.69%

+3.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.17%

16.43%

+4.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.92%

18.36%

+3.56%

EWUS vs. EWU - Expense Ratio Comparison

EWUS has a 0.59% expense ratio, which is higher than EWU's 0.50% expense ratio.

Dividends

EWUS vs. EWU - Dividend Comparison

EWUS's dividend yield for the trailing twelve months is around 3.30%, which matches EWU's 3.28% yield.

PositionTTM20252024202320222021202020192018201720162015
EWU
iShares MSCI United Kingdom ETF		3.28%3.73%4.16%4.14%3.43%4.35%2.48%4.13%4.98%3.91%3.97%4.11%
EWUS
iShares MSCI United Kingdom Small-Cap ETF		3.30%3.59%3.67%2.88%2.03%3.54%1.97%2.59%3.53%2.61%3.18%2.85%

Frequently Asked Questions

EWUS and EWU have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWUS has higher volatility (4.96%) compared to EWU (4.04%). In terms of maximum drawdown, EWUS dropped -49.33% vs EWU's -63.99%.

On 10-year performance, EWU leads with 8.63% vs 4.97% for EWUS. On fees, EWU is cheaper at 0.50% per year. On volatility, EWU has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWU has performed better with a 8.63% return vs 4.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWU is cheaper with a 0.50% expense ratio, compared with 0.59% for EWUS.

EWUS has the higher dividend yield at 3.30%, compared with 3.28% for EWU.

EWUS tracks MSCI United Kingdom Small Cap Index, while EWU tracks MSCI United Kingdom Index. Their fees differ too: 0.59% for EWUS and 0.50% for EWU.

EWU currently has the higher Sharpe Ratio (1.39 vs 0.33), 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.

Portfolio Optimizer

Find the right allocation for EWUS and EWU

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer