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FDD vs. EWP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FDD vs. EWP

Last updated Jun 24, 2026

FDD (First Trust STOXX European Select Dividend Index Fund) and EWP (iShares MSCI Spain ETF) are both Europe Equities funds - FDD tracks the STOXX Europe Select Dividend 30 while EWP tracks the MSCI Spain Index. Both are passively managed. Over the past 10 years, FDD returned 10.75%/yr vs 13.42%/yr for EWP. A 0.74 correlation means they provide meaningful diversification when combined. FDD charges 0.58%/yr vs 0.50%/yr for EWP.

Performance

FDD vs. EWP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust STOXX European Select Dividend Index Fund (FDD) and iShares MSCI Spain ETF (EWP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FDD achieves a 10.10% return, which is significantly lower than EWP's 11.25% return. Over the past 10 years, FDD has underperformed EWP with an annualized return of 10.75%, while EWP has yielded a comparatively higher 13.42% annualized return.

FDD

1D
-1.94%
1M
-2.36%
YTD
10.10%
6M
10.41%
1Y
30.12%
3Y*
26.20%
5Y*
11.36%
10Y*
10.75%

EWP

1D
-0.72%
1M
6.13%
YTD
11.25%
6M
11.48%
1Y
41.28%
3Y*
33.03%
5Y*
18.75%
10Y*
13.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FDD vs. EWP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FDD
First Trust STOXX European Select Dividend Index Fund		10.10%62.50%0.28%14.16%-16.14%16.03%-3.80%23.79%-8.98%19.07%
EWP
iShares MSCI Spain ETF		11.25%78.03%5.70%30.26%-5.18%0.25%-3.94%11.93%-15.32%26.98%

Correlation

The correlation between FDD and EWP is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.83

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

0.83

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

0.84

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

0.83

Correlation (All Time)
Calculated using the full available price history since Aug 30, 2007

0.74

The correlation between FDD and EWP shifts across timeframes, from 0.74 (all time) to 0.84 (5 years), reflecting how their relationship changes across market environments.

FDD vs. EWP - Sectors Allocation Comparison

Sectors
FDD
EWP

Financial Services

52.0%
42.4%

Industrials

13.3%
16.3%

Consumer Cyclical

12.3%
4.6%

Energy

10.4%
4.1%

Utilities

6.0%
21.4%

Consumer Defensive

3.6%

-

Real Estate

3.3%
2.8%

Basic Materials

3.1%

-

Communication Services

2.1%
2.8%

Healthcare

-

1.3%

Technology

-

5.6%

Financial Services

FDD
52.0%
EWP
42.4%

Industrials

FDD
13.3%
EWP
16.3%

Consumer Cyclical

FDD
12.3%
EWP
4.6%

Energy

FDD
10.4%
EWP
4.1%

Utilities

FDD
6.0%
EWP
21.4%

Consumer Defensive

FDD
3.6%
EWP

-

Real Estate

FDD
3.3%
EWP
2.8%

Basic Materials

FDD
3.1%
EWP

-

Communication Services

FDD
2.1%
EWP
2.8%

Healthcare

FDD

-

EWP
1.3%

Technology

FDD

-

EWP
5.6%

Compare stocks, funds, or ETFs

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First Trust STOXX European Select Dividend Index Fund

iShares MSCI Spain ETF

Often compared with FDD:
FDD vs. EUFNFDD vs. FLAXFDD vs. RFEUFDD vs. VTIFDD vs. IQDFFDD vs. DVYFDD vs. IEUR
Often compared with EWP:
EWP vs. EWGEWP vs. EWIEWP vs. EPOLEWP vs. EIRLEWP vs. VOOEWP vs. FEZEWP vs. EWQ

Return for Risk

FDD vs. EWP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FDD
FDD Risk / Return Rank: 6060
Overall Rank
FDD Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
FDD Sortino Ratio Rank: 5858
Sortino Ratio Rank
FDD Omega Ratio Rank: 5454
Omega Ratio Rank
FDD Calmar Ratio Rank: 6767
Calmar Ratio Rank
FDD Martin Ratio Rank: 6262
Martin Ratio Rank
EWP
EWP Risk / Return Rank: 7171
Overall Rank
EWP Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
EWP Sortino Ratio Rank: 6868
Sortino Ratio Rank
EWP Omega Ratio Rank: 6767
Omega Ratio Rank
EWP Calmar Ratio Rank: 7575
Calmar Ratio Rank
EWP Martin Ratio Rank: 7373
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.

FDD vs. EWP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust STOXX European Select Dividend Index Fund (FDD) and iShares MSCI Spain ETF (EWP). 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.

FDDEWPDifference
Sharpe ratioReturn per unit of total volatility
1.88
2.21

-0.32

Sortino ratioReturn per unit of downside risk
2.61
2.94

-0.33

Omega ratioGain probability vs. loss probability

1.32

1.38

-0.06

Calmar ratioReturn relative to maximum drawdown

3.22

3.64

-0.42

Martin ratioReturn relative to average drawdown

10.63

12.92

-2.29

FDD vs. EWP - Sharpe Ratio Comparison

The current FDD Sharpe Ratio is 1.88, which is comparable to the EWP Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of FDD and EWP, 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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Drawdowns

FDD vs. EWP - Drawdown Comparison

The maximum FDD drawdown since its inception was -74.77%, which is greater than EWP's maximum drawdown of -61.19%. Use the drawdown chart below to compare losses from any high point for FDD and EWP.

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Drawdown Indicators

FDDEWPDifference

Max Drawdown

Largest peak-to-trough decline

-74.77%

-61.19%

-13.58%

Max Drawdown (1Y)

Largest decline over 1 year

-9.39%

-11.38%

+1.99%

Max Drawdown (3Y)

Largest decline over 3 years

-13.06%

-12.19%

-0.87%

Max Drawdown (5Y)

Largest decline over 5 years

-34.84%

-31.63%

-3.21%

Max Drawdown (10Y)

Largest decline over 10 years

-41.43%

-46.36%

+4.93%

Current Drawdown

Current decline from peak

-3.52%

-0.72%

-2.80%

Average Drawdown

Average peak-to-trough decline

-35.37%

-21.40%

-13.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.84%

3.20%

-0.36%

Volatility

FDD vs. EWP - Volatility Comparison

First Trust STOXX European Select Dividend Index Fund (FDD) and iShares MSCI Spain ETF (EWP) have volatilities of 5.51% and 5.49%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FDDEWPDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.51%

5.49%

+0.02%

Volatility (6M)

Calculated over the trailing 6-month period

13.16%

16.07%

-2.91%

Volatility (1Y)

Calculated over the trailing 1-year period

16.09%

18.81%

-2.72%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.48%

20.29%

-1.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.86%

21.56%

-1.70%

FDD vs. EWP - Expense Ratio Comparison

FDD has a 0.58% expense ratio, which is higher than EWP's 0.50% expense ratio.

Dividends

FDD vs. EWP - Dividend Comparison

FDD's dividend yield for the trailing twelve months is around 3.59%, more than EWP's 2.82% yield.

PositionTTM20252024202320222021202020192018201720162015
EWP
iShares MSCI Spain ETF		2.82%2.27%4.35%2.70%3.07%3.29%2.56%3.72%3.69%2.72%4.65%3.85%
FDD
First Trust STOXX European Select Dividend Index Fund		3.59%3.99%7.65%6.85%6.07%3.44%4.01%4.69%5.05%2.78%4.88%4.35%

Frequently Asked Questions

FDD and EWP have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FDD has higher volatility (5.51%) compared to EWP (5.49%). In terms of maximum drawdown, FDD dropped -74.77% vs EWP's -61.19%.

On 10-year performance, EWP leads with 13.42% vs 10.75% for FDD. On fees, EWP is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWP has performed better with a 13.42% return vs 10.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWP is cheaper with a 0.50% expense ratio, compared with 0.58% for FDD.

FDD has the higher dividend yield at 3.59%, compared with 2.82% for EWP.

FDD tracks STOXX Europe Select Dividend 30, while EWP tracks MSCI Spain Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.58% for FDD and 0.50% for EWP.

EWP currently has the higher Sharpe Ratio (2.21 vs 1.88), 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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