FEZ vs. IYW
FEZ (SPDR EURO STOXX 50 ETF) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - FEZ is a Europe Equities fund tracking the EURO STOXX 50 Index, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 10 years, FEZ returned 10.66%/yr vs 25.53%/yr for IYW. A 0.64 correlation means they provide meaningful diversification when combined. FEZ charges 0.29%/yr vs 0.38%/yr for IYW.
Performance
FEZ vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, FEZ achieves a 4.68% return, which is significantly lower than IYW's 22.81% return. Over the past 10 years, FEZ has underperformed IYW with an annualized return of 10.66%, while IYW has yielded a comparatively higher 25.53% annualized return.
FEZ
- 1D
- 0.63%
- 1M
- 0.33%
- YTD
- 4.68%
- 6M
- 6.49%
- 1Y
- 15.20%
- 3Y*
- 17.76%
- 5Y*
- 9.78%
- 10Y*
- 10.66%
IYW
- 1D
- 1.61%
- 1M
- 2.72%
- YTD
- 22.81%
- 6M
- 20.20%
- 1Y
- 50.11%
- 3Y*
- 33.35%
- 5Y*
- 21.56%
- 10Y*
- 25.53%
FEZ vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEZ SPDR EURO STOXX 50 ETF | 4.68% | 37.81% | 3.57% | 27.16% | -14.27% | 14.84% | 4.84% | 26.04% | -15.85% | 24.80% |
IYW iShares U.S. Technology ETF | 22.81% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
Correlation
The correlation between FEZ and IYW is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2002 | 0.64 |
The correlation between FEZ and IYW has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.
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Return for Risk
FEZ vs. IYW — Risk / Return Rank
FEZ
IYW
FEZ vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR EURO STOXX 50 ETF (FEZ) and iShares U.S. Technology ETF (IYW). 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.
| FEZ | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.40 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | 2.83 | -1.71 |
| Martin ratioReturn relative to average drawdown | 3.81 | 9.20 | -5.40 |
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
| FEZ | IYW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 2.40 | -1.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.83 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 1.02 | -0.51 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.35 | -0.05 |
Drawdowns
FEZ vs. IYW - Drawdown Comparison
The maximum FEZ drawdown since its inception was -64.21%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for FEZ and IYW.
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Drawdown Indicators
| FEZ | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.21% | -81.90% | +17.69% |
Max Drawdown (1Y)Largest decline over 1 year | -13.63% | -17.81% | +4.18% |
Max Drawdown (3Y)Largest decline over 3 years | -15.85% | -26.47% | +10.62% |
Max Drawdown (5Y)Largest decline over 5 years | -35.05% | -39.44% | +4.39% |
Max Drawdown (10Y)Largest decline over 10 years | -39.69% | -39.44% | -0.25% |
Current DrawdownCurrent decline from peak | -2.79% | -5.70% | +2.91% |
Average DrawdownAverage peak-to-trough decline | -17.07% | -34.64% | +17.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.00% | 5.46% | -1.46% |
Volatility
FEZ vs. IYW - Volatility Comparison
The current volatility for SPDR EURO STOXX 50 ETF (FEZ) is 5.64%, while iShares U.S. Technology ETF (IYW) has a volatility of 8.86%. This indicates that FEZ experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEZ | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 8.86% | -3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 15.06% | 17.10% | -2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.11% | 21.05% | -2.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.64% | 26.01% | -5.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.12% | 25.18% | -4.06% |
FEZ vs. IYW - Expense Ratio Comparison
FEZ has a 0.29% expense ratio, which is lower than IYW's 0.38% expense ratio.
Dividends
FEZ vs. IYW - Dividend Comparison
FEZ's dividend yield for the trailing twelve months is around 2.58%, more than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEZ SPDR EURO STOXX 50 ETF | 2.58% | 2.78% | 2.94% | 2.75% | 3.06% | 2.61% | 2.13% | 2.61% | 3.45% | 2.44% | 3.35% | 3.03% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
FEZ and IYW have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (8.86%) compared to FEZ (5.64%). In terms of maximum drawdown, FEZ dropped -64.21% vs IYW's -81.90%.
On 10-year performance, IYW leads with 25.53% vs 10.66% for FEZ. On fees, FEZ is cheaper at 0.29% per year. On volatility, FEZ has been the lower-risk option at 5.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 25.53% return vs 10.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FEZ is cheaper with a 0.29% expense ratio, compared with 0.38% for IYW.
FEZ has the higher dividend yield at 2.58%, compared with 0.11% for IYW.
FEZ is categorized as Europe Equities, while IYW is Technology Equities. FEZ tracks EURO STOXX 50 Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.29% for FEZ and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.40 vs 0.84), 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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