ITEC.L vs. EWN
ITEC.L (SPDR® MSCI Europe Technology UCITS ETF) and EWN (iShares MSCI Netherlands ETF) are both exchange-traded funds - ITEC.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while EWN is a Europe Equities fund tracking the MSCI Netherlands Investable Market Index. Both are passively managed. Over the past 10 years, ITEC.L returned 16.38%/yr vs 12.68%/yr for EWN. A 0.66 correlation means they provide meaningful diversification when combined. ITEC.L charges 0.18%/yr vs 0.50%/yr for EWN.
Performance
ITEC.L vs. EWN - Performance Comparison
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Different Trading Currencies
ITEC.L is traded in EUR, while EWN is traded in USD. To make them comparable, the EWN values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ITEC.L achieves a 50.84% return, which is significantly higher than EWN's 20.95% return. Over the past 10 years, ITEC.L has outperformed EWN with an annualized return of 16.38%, while EWN has yielded a comparatively lower 12.68% annualized return.
ITEC.L
- 1D
- 0.11%
- 1M
- 20.47%
- YTD
- 50.84%
- 6M
- 47.59%
- 1Y
- 59.63%
- 3Y*
- 24.64%
- 5Y*
- 15.12%
- 10Y*
- 16.38%
EWN
- 1D
- 1.13%
- 1M
- 8.22%
- YTD
- 20.95%
- 6M
- 20.78%
- 1Y
- 32.54%
- 3Y*
- 17.40%
- 5Y*
- 9.98%
- 10Y*
- 12.68%
ITEC.L vs. EWN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITEC.L SPDR® MSCI Europe Technology UCITS ETF | 50.84% | 9.68% | 8.54% | 34.99% | -28.19% | 35.95% | 14.06% | 36.63% | -7.09% | 19.92% |
EWN iShares MSCI Netherlands ETF | 20.95% | 18.86% | 8.39% | 18.42% | -19.75% | 31.92% | 13.07% | 35.45% | -11.40% | 17.30% |
Correlation
The correlation between ITEC.L and EWN is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014 | 0.66 |
The correlation between ITEC.L and EWN has been stable across timeframes, ranging from 0.65 to 0.68 - a consistent structural relationship.
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Return for Risk
ITEC.L vs. EWN — Risk / Return Rank
ITEC.L
EWN
ITEC.L vs. EWN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR® MSCI Europe Technology UCITS ETF (ITEC.L) and iShares MSCI Netherlands ETF (EWN). 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.
| ITEC.L | EWN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.31 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.54 | 3.08 | +1.46 |
| Martin ratioReturn relative to average drawdown | 12.02 | 10.64 | +1.38 |
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
| ITEC.L | EWN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.33 | 1.78 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.49 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.64 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.37 | +0.28 |
Drawdowns
ITEC.L vs. EWN - Drawdown Comparison
The maximum ITEC.L drawdown since its inception was -38.49%, smaller than the maximum EWN drawdown of -60.88%. Use the drawdown chart below to compare losses from any high point for ITEC.L and EWN.
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Drawdown Indicators
| ITEC.L | EWN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.49% | -60.88% | +22.39% |
Max Drawdown (1Y)Largest decline over 1 year | -13.06% | -10.60% | -2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -26.94% | -20.13% | -6.81% |
Max Drawdown (5Y)Largest decline over 5 years | -38.49% | -33.00% | -5.49% |
Max Drawdown (10Y)Largest decline over 10 years | -38.49% | -35.59% | -2.90% |
Current DrawdownCurrent decline from peak | -0.09% | 0.00% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -9.08% | -13.54% | +4.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.95% | 3.07% | +1.88% |
Volatility
ITEC.L vs. EWN - Volatility Comparison
SPDR® MSCI Europe Technology UCITS ETF (ITEC.L) has a higher volatility of 10.27% compared to iShares MSCI Netherlands ETF (EWN) at 6.58%. This indicates that ITEC.L's price experiences larger fluctuations and is considered to be riskier than EWN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITEC.L | EWN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.27% | 6.58% | +3.69% |
Volatility (6M)Calculated over the trailing 6-month period | 20.59% | 14.97% | +5.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.53% | 18.33% | +7.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.71% | 20.30% | +5.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.09% | 19.73% | +4.36% |
ITEC.L vs. EWN - Expense Ratio Comparison
ITEC.L has a 0.18% expense ratio, which is lower than EWN's 0.50% expense ratio.
Dividends
ITEC.L vs. EWN - Dividend Comparison
ITEC.L has not paid dividends to shareholders, while EWN's dividend yield for the trailing twelve months is around 4.21%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWN iShares MSCI Netherlands ETF | 4.21% | 5.03% | 2.18% | 1.79% | 1.98% | 1.01% | 0.78% | 2.57% | 2.40% | 1.68% | 2.71% | 1.92% |
ITEC.L SPDR® MSCI Europe Technology UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ITEC.L and EWN have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ITEC.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ITEC.L is cheaper with a 0.18% expense ratio, compared with 0.50% for EWN.
ITEC.L is categorized as Technology Equities, while EWN is Europe Equities. ITEC.L tracks MSCI World/Information Tech NR USD, while EWN tracks MSCI Netherlands Investable Market Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for ITEC.L and 0.50% for EWN.
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