FIEUX vs. EWG
FIEUX (Fidelity Europe Fund) and EWG (iShares MSCI Germany ETF) are both Europe Equities funds. FIEUX is actively managed, while EWG is passively managed. Over the past 10 years, FIEUX returned 8.50%/yr vs 7.95%/yr for EWG. Their correlation of 0.82 means they have usually moved in the same direction. FIEUX charges 0.77%/yr vs 0.49%/yr for EWG.
Performance
FIEUX vs. EWG - Performance Comparison
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Returns By Period
In the year-to-date period, FIEUX achieves a 7.85% return, which is significantly higher than EWG's 4.12% return. Over the past 10 years, FIEUX has outperformed EWG with an annualized return of 8.50%, while EWG has yielded a comparatively lower 7.95% annualized return.
FIEUX
- 1D
- -0.22%
- 1M
- -0.38%
- 6M
- 2.53%
- YTD
- 7.85%
- 1Y
- 18.88%
- 3Y*
- 16.77%
- 5Y*
- 5.83%
- 10Y*
- 8.50%
- ALL TIME*
- 8.28%
EWG
- 1D
- 1.24%
- 1M
- 2.53%
- 6M
- 1.77%
- YTD
- 4.12%
- 1Y
- 8.59%
- 3Y*
- 17.75%
- 5Y*
- 7.19%
- 10Y*
- 7.95%
- ALL TIME*
- 6.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $53.17M | $48.20M | $48.04M | |
FIEUX Fidelity Europe Fund | $0.00 | $0.00 | $0.00 |
FIEUX vs. EWG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIEUX Fidelity Europe Fund | 7.85% | 37.53% | 4.21% | 13.68% | -20.62% | 6.63% | 18.29% | 24.43% | -17.22% | 29.16% |
EWG iShares MSCI Germany ETF | 4.12% | 35.79% | 9.79% | 23.35% | -22.27% | 5.84% | 10.09% | 19.15% | -21.40% | 27.42% |
Correlation
The correlation between FIEUX and EWG is 0.87, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.87 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 1996 | 0.82 |
The correlation between FIEUX and EWG has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.
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Return for Risk
FIEUX vs. EWG — Risk / Return Rank
FIEUX
EWG
FIEUX vs. EWG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Europe Fund (FIEUX) and iShares MSCI Germany ETF (EWG). 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.
| FIEUX | EWG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.10 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 0.59 | +0.87 |
| Martin ratioReturn relative to average drawdown | 5.40 | 1.77 | +3.63 |
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Drawdowns
FIEUX vs. EWG - Drawdown Comparison
The maximum FIEUX drawdown since its inception was -59.96%, smaller than the maximum EWG drawdown of -67.57%. Use the drawdown chart below to compare losses from any high point for FIEUX and EWG.
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Drawdown Indicators
| FIEUX | EWG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.96% | -67.57% | +7.61% |
Max Drawdown (1Y)Largest decline over 1 year | -12.38% | -14.54% | +2.16% |
Max Drawdown (3Y)Largest decline over 3 years | -13.13% | -15.49% | +2.36% |
Max Drawdown (5Y)Largest decline over 5 years | -38.04% | -42.59% | +4.55% |
Max Drawdown (10Y)Largest decline over 10 years | -38.04% | -46.80% | +8.76% |
Current DrawdownCurrent decline from peak | -1.06% | -0.70% | -0.36% |
Average DrawdownAverage peak-to-trough decline | -13.98% | -19.12% | +5.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 4.86% | -1.51% |
Volatility
FIEUX vs. EWG - Volatility Comparison
The current volatility for Fidelity Europe Fund (FIEUX) is 4.40%, while iShares MSCI Germany ETF (EWG) has a volatility of 4.87%. This indicates that FIEUX experiences smaller price fluctuations and is considered to be less risky than EWG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIEUX | EWG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 4.87% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 15.30% | 15.35% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.53% | 17.72% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.51% | 20.59% | -3.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.45% | 20.82% | -3.37% |
FIEUX vs. EWG - Expense Ratio Comparison
FIEUX has a 0.77% expense ratio, which is higher than EWG's 0.49% expense ratio.
Dividends
FIEUX vs. EWG - Dividend Comparison
FIEUX's dividend yield for the trailing twelve months is around 2.07%, more than EWG's 1.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWG iShares MSCI Germany ETF | 1.92% | 1.60% | 2.38% | 2.56% | 3.24% | 2.70% | 1.67% | 2.51% | 2.93% | 2.06% | 2.35% | 1.93% |
FIEUX Fidelity Europe Fund | 2.07% | 2.23% | 3.28% | 1.62% | 0.00% | 16.10% | 1.15% | 7.42% | 11.93% | 2.52% | 1.51% | 0.43% |
Frequently Asked Questions
FIEUX and EWG have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWG has higher volatility (4.87%) compared to FIEUX (4.40%). In terms of maximum drawdown, FIEUX dropped -59.96% vs EWG's -67.57%.
FIEUX currently has the higher Sharpe Ratio (1.04 vs 0.49), 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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