IAAAX vs. EWC
IAAAX (Transamerica Asset Allocation Growth Portfolio Fund) and EWC (iShares MSCI Canada ETF) are both funds - IAAAX is a Diversified Portfolio fund managed by Transamerica, while EWC is a Canada Equities fund tracking the MSCI Canada Index. Over the past 10 years, IAAAX returned 11.15%/yr vs 11.19%/yr for EWC. A 0.72 correlation means they provide meaningful diversification when combined. Both charge a 0.49% expense ratio.
Performance
IAAAX vs. EWC - Performance Comparison
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Returns By Period
In the year-to-date period, IAAAX achieves a 10.35% return, which is significantly higher than EWC's 8.73% return. Both investments have delivered pretty close results over the past 10 years, with IAAAX having a 11.15% annualized return and EWC not far ahead at 11.19%.
IAAAX
- 1D
- 0.16%
- 1M
- 5.48%
- YTD
- 10.35%
- 6M
- 11.52%
- 1Y
- 26.56%
- 3Y*
- 20.03%
- 5Y*
- 9.85%
- 10Y*
- 11.15%
EWC
- 1D
- -1.38%
- 1M
- 1.30%
- YTD
- 8.73%
- 6M
- 12.75%
- 1Y
- 31.36%
- 3Y*
- 21.89%
- 5Y*
- 11.19%
- 10Y*
- 11.19%
IAAAX vs. EWC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAAAX Transamerica Asset Allocation Growth Portfolio Fund | 10.35% | 21.45% | 17.37% | 20.04% | -19.24% | 16.14% | 18.87% | 21.75% | -11.48% | 20.17% |
EWC iShares MSCI Canada ETF | 8.73% | 35.92% | 12.38% | 14.73% | -12.95% | 26.98% | 5.52% | 27.58% | -17.16% | 15.73% |
Correlation
The correlation between IAAAX and EWC is 0.72, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2002 | 0.72 |
The correlation between IAAAX and EWC has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.
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Return for Risk
IAAAX vs. EWC — Risk / Return Rank
IAAAX
EWC
IAAAX vs. EWC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Transamerica Asset Allocation Growth Portfolio Fund (IAAAX) and iShares MSCI Canada ETF (EWC). 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.
| IAAAX | EWC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.39 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 3.70 | -0.94 |
| Martin ratioReturn relative to average drawdown | 12.39 | 15.25 | -2.87 |
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
| IAAAX | EWC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 2.24 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | 0.65 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.60 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.41 | +0.02 |
Drawdowns
IAAAX vs. EWC - Drawdown Comparison
The maximum IAAAX drawdown since its inception was -56.57%, smaller than the maximum EWC drawdown of -60.75%. Use the drawdown chart below to compare losses from any high point for IAAAX and EWC.
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Drawdown Indicators
| IAAAX | EWC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.57% | -60.75% | +4.18% |
Max Drawdown (1Y)Largest decline over 1 year | -9.85% | -8.51% | -1.34% |
Max Drawdown (3Y)Largest decline over 3 years | -17.90% | -12.97% | -4.93% |
Max Drawdown (5Y)Largest decline over 5 years | -29.29% | -24.81% | -4.48% |
Max Drawdown (10Y)Largest decline over 10 years | -35.34% | -42.66% | +7.32% |
Current DrawdownCurrent decline from peak | 0.00% | -1.38% | +1.38% |
Average DrawdownAverage peak-to-trough decline | -9.53% | -13.14% | +3.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.19% | 2.06% | +0.13% |
Volatility
IAAAX vs. EWC - Volatility Comparison
Transamerica Asset Allocation Growth Portfolio Fund (IAAAX) and iShares MSCI Canada ETF (EWC) have volatilities of 3.36% and 3.46%, 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
| IAAAX | EWC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 3.46% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 10.13% | 11.03% | -0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.99% | 14.04% | -1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.33% | 17.25% | -0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.85% | 18.74% | -1.89% |
IAAAX vs. EWC - Expense Ratio Comparison
Both IAAAX and EWC have an expense ratio of 0.49%.
Dividends
IAAAX vs. EWC - Dividend Comparison
IAAAX's dividend yield for the trailing twelve months is around 6.54%, more than EWC's 1.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWC iShares MSCI Canada ETF | 1.33% | 1.45% | 2.23% | 2.27% | 2.34% | 1.85% | 2.09% | 2.16% | 2.65% | 1.97% | 1.75% | 2.34% |
IAAAX Transamerica Asset Allocation Growth Portfolio Fund | 6.54% | 7.21% | 5.16% | 2.79% | 8.74% | 8.25% | 4.13% | 9.02% | 19.05% | 11.01% | 8.16% | 9.44% |
Frequently Asked Questions
IAAAX and EWC have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWC has higher volatility (3.46%) compared to IAAAX (3.36%). In terms of maximum drawdown, IAAAX dropped -56.57% vs EWC's -60.75%.
EWC currently has the higher Sharpe Ratio (2.24 vs 2.10), 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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