IUSV vs. EWO

Last updated Jul 14, 2026

IUSV (iShares Core S&P U.S. Value ETF) and EWO (iShares MSCI Austria ETF) are both exchange-traded funds - IUSV is a Large Cap Value Equities fund tracking the S&P 900 Value Index, while EWO is a Europe Equities fund tracking the MSCI Austria Investable Market Index. Both are passively managed. Over the past 10 years, IUSV returned 11.73%/yr vs 14.90%/yr for EWO. A 0.57 correlation means they provide meaningful diversification when combined. IUSV charges 0.04%/yr vs 0.49%/yr for EWO.

Performance

IUSV vs. EWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P U.S. Value ETF (IUSV) and iShares MSCI Austria ETF (EWO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUSV achieves a 9.97% return, which is significantly lower than EWO's 20.31% return. Over the past 10 years, IUSV has underperformed EWO with an annualized return of 11.73%, while EWO has yielded a comparatively higher 14.90% annualized return.

IUSV

• 1D: 0.15%
• 1M: 1.31%
• 6M: 7.21%
• YTD: 9.97%
• 1Y: 18.63%
• 3Y*: 14.24%
• 5Y*: 11.41%
• 10Y*: 11.73%

EWO

• 1D: -1.44%
• 1M: 1.48%
• 6M: 17.72%
• YTD: 20.31%
• 1Y: 43.73%
• 3Y*: 32.36%
• 5Y*: 17.10%
• 10Y*: 14.90%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IUSV vs. EWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUSV iShares Core S&P U.S. Value ETF	9.97%	12.85%	12.18%	21.73%	-5.40%	25.22%	1.56%	31.47%	-9.21%	15.09%
EWO iShares MSCI Austria ETF	20.31%	74.21%	4.05%	20.63%	-21.95%	31.50%	-3.67%	17.05%	-22.88%	52.47%

Correlation

The correlation between IUSV and EWO is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Aug 4, 2000	0.57

The correlation between IUSV and EWO shifts across timeframes, from 0.51 (3 years) to 0.61 (10 years), reflecting how their relationship changes across market environments.

IUSV vs. EWO - Sectors Allocation Comparison

Sectors	IUSV	EWO
Technology	21.7%	5.7%
Financial Services	14.9%	47.3%
Consumer Cyclical	11.2%	3.6%
Healthcare	11.1%	-
Industrials	10.9%	14.5%
Consumer Defensive	8.7%	-
Energy	7.0%	9.7%
Utilities	4.3%	6.5%
Real Estate	3.7%	4.1%
Basic Materials	3.5%	8.8%
Communication Services	3.0%	-

Return for Risk

IUSV vs. EWO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IUSV

IUSV Risk / Return Rank: 73
IUSV Sharpe Ratio Rank: 73
IUSV Sortino Ratio Rank: 73
IUSV Omega Ratio Rank: 72
IUSV Calmar Ratio Rank: 73
IUSV Martin Ratio Rank: 75

EWO

EWO Risk / Return Rank: 81
EWO Sharpe Ratio Rank: 87
EWO Sortino Ratio Rank: 88
EWO Omega Ratio Rank: 81
EWO Calmar Ratio Rank: 76
EWO Martin Ratio Rank: 72

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.

IUSV vs. EWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P U.S. Value ETF (IUSV) and iShares MSCI Austria ETF (EWO). 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.

	IUSV	EWO	Difference
Sharpe ratio: Return per unit of total volatility	1.87	2.25	-0.38
Sortino ratio: Return per unit of downside risk	2.63	3.17	-0.54
Omega ratio: Gain probability vs. loss probability	1.34	1.38	-0.04
Calmar ratio: Return relative to maximum drawdown	2.94	3.12	-0.18
Martin ratio: Return relative to average drawdown	11.19	10.48	+0.70

IUSV vs. EWO - Sharpe Ratio Comparison

The current IUSV Sharpe Ratio is 1.87, which is comparable to the EWO Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of IUSV and EWO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IUSV vs. EWO - Drawdown Comparison

The maximum IUSV drawdown since its inception was -56.88%, smaller than the maximum EWO drawdown of -75.69%. Use the drawdown chart below to compare losses from any high point for IUSV and EWO.

Drawdown Indicators

	IUSV	EWO	Difference
Max Drawdown Largest peak-to-trough decline	-56.88%	-75.69%	+18.81%
Max Drawdown (1Y) Largest decline over 1 year	-6.36%	-14.08%	+7.72%
Max Drawdown (3Y) Largest decline over 3 years	-17.76%	-16.75%	-1.01%
Max Drawdown (5Y) Largest decline over 5 years	-17.95%	-41.82%	+23.87%
Max Drawdown (10Y) Largest decline over 10 years	-37.54%	-58.10%	+20.56%
Current Drawdown Current decline from peak	-0.02%	-3.06%	+3.04%
Average Drawdown Average peak-to-trough decline	-6.27%	-28.03%	+21.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	4.18%	-2.51%

Volatility

IUSV vs. EWO - Volatility Comparison

The current volatility for iShares Core S&P U.S. Value ETF (IUSV) is 2.58%, while iShares MSCI Austria ETF (EWO) has a volatility of 7.39%. This indicates that IUSV experiences smaller price fluctuations and is considered to be less risky than EWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUSV	EWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	7.39%	-4.81%
Volatility (6M) Calculated over the trailing 6-month period	7.29%	16.64%	-9.35%
Volatility (1Y) Calculated over the trailing 1-year period	10.03%	19.55%	-9.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	22.00%	-7.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.98%	22.56%	-5.58%

IUSV vs. EWO - Expense Ratio Comparison

IUSV has a 0.04% expense ratio, which is lower than EWO's 0.49% expense ratio.

Dividends

IUSV vs. EWO - Dividend Comparison

IUSV's dividend yield for the trailing twelve months is around 1.67%, less than EWO's 2.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWO iShares MSCI Austria ETF	2.01%	2.38%	7.40%	5.66%	4.75%	2.42%	0.98%	3.11%	4.04%	2.03%	1.99%	1.51%
IUSV iShares Core S&P U.S. Value ETF	1.67%	1.78%	2.15%	1.75%	2.22%	1.87%	2.40%	2.19%	2.67%	1.93%	4.44%	7.63%

Frequently Asked Questions

Can I hold both IUSV and EWO in my portfolio?

IUSV and EWO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IUSV or EWO?

EWO has higher volatility (7.39%) compared to IUSV (2.58%). In terms of maximum drawdown, IUSV dropped -56.88% vs EWO's -75.69%.

Which ETF is better, IUSV or EWO?

On 10-year performance, EWO leads with 14.90% vs 11.73% for IUSV. On fees, IUSV is cheaper at 0.04% per year. On volatility, IUSV has been the lower-risk option at 2.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IUSV or EWO?

Over the 10-year period, EWO has performed better with a 14.90% return vs 11.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IUSV or EWO?

IUSV is cheaper with a 0.04% expense ratio, compared with 0.49% for EWO.

Which ETF pays a higher dividend yield, IUSV or EWO?

EWO has the higher dividend yield at 2.01%, compared with 1.67% for IUSV.

What is the main difference between IUSV and EWO?

IUSV is categorized as Large Cap Value Equities, while EWO is Europe Equities. IUSV tracks S&P 900 Value Index, while EWO tracks MSCI Austria Investable Market Index. Their fees differ too: 0.04% for IUSV and 0.49% for EWO.

Which has better risk-adjusted returns?

EWO currently has the higher Sharpe Ratio (2.25 vs 1.87), 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.