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IXC vs. EWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IXC vs. EWM

Last updated Jun 14, 2026

IXC (iShares Global Energy ETF) and EWM (iShares MSCI Malaysia ETF) are both exchange-traded funds - IXC is a Energy Equities fund tracking the S&P Global 1200 Energy Capped Index, while EWM is a Asia Pacific Equities fund tracking the MSCI Malaysia Index. Both are passively managed. Over the past 10 years, IXC returned 10.05%/yr vs 2.79%/yr for EWM. At a 0.43 correlation, their price movements are largely independent. IXC charges 0.40%/yr vs 0.49%/yr for EWM.

Performance

IXC vs. EWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Energy ETF (IXC) and iShares MSCI Malaysia ETF (EWM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IXC achieves a 29.17% return, which is significantly higher than EWM's 2.89% return. Over the past 10 years, IXC has outperformed EWM with an annualized return of 10.05%, while EWM has yielded a comparatively lower 2.79% annualized return.

IXC

1D
0.28%
1M
-3.42%
YTD
29.17%
6M
28.84%
1Y
36.66%
3Y*
17.43%
5Y*
19.14%
10Y*
10.05%

EWM

1D
0.25%
1M
-5.22%
YTD
2.89%
6M
6.00%
1Y
20.41%
3Y*
14.97%
5Y*
4.69%
10Y*
2.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IXC vs. EWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IXC
iShares Global Energy ETF		29.17%13.98%1.95%3.92%48.51%40.88%-31.00%12.67%-14.85%5.54%
EWM
iShares MSCI Malaysia ETF		2.89%15.74%19.46%-3.61%-6.00%-7.40%3.12%-1.41%-6.28%24.25%

Correlation

The correlation between IXC and EWM is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.02

Correlation (3Y)
Calculated over the trailing 3-year period

0.12

Correlation (5Y)
Calculated over the trailing 5-year period

0.22

Correlation (10Y)
Calculated over the trailing 10-year period

0.33

Correlation (All Time)
Calculated using the full available price history since Nov 16, 2001

0.43

Over the past year, the correlation between IXC and EWM has dropped to 0.02 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

IXC vs. EWM - Sectors Allocation Comparison

Sectors
IXC
EWM

Energy

100.0%
2.9%

Basic Materials

-

9.9%

Communication Services

-

5.5%

Consumer Cyclical

-

1.1%

Consumer Defensive

-

4.7%

Financial Services

-

50.5%

Healthcare

-

3.4%

Industrials

-

12.2%

Real Estate

-

-

Technology

-

-

Utilities

-

10.9%

Energy

IXC
100.0%
EWM
2.9%

Basic Materials

IXC

-

EWM
9.9%

Communication Services

IXC

-

EWM
5.5%

Consumer Cyclical

IXC

-

EWM
1.1%

Consumer Defensive

IXC

-

EWM
4.7%

Financial Services

IXC

-

EWM
50.5%

Healthcare

IXC

-

EWM
3.4%

Industrials

IXC

-

EWM
12.2%

Real Estate

IXC

-

EWM

-

Technology

IXC

-

EWM

-

Utilities

IXC

-

EWM
10.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Global Energy ETF

iShares MSCI Malaysia ETF

Often compared with IXC:
IXC vs. XLEIXC vs. VDEIXC vs. IYEIXC vs. OIHIXC vs. IUES.LIXC vs. DDMIXC vs. XDW0.DE
Often compared with EWM:
EWM vs. EIDOEWM vs. EWYEWM vs. EWTEWM vs. EPIEWM vs. AAXJEWM vs. VOOEWM vs. SCHD

Return for Risk

IXC vs. EWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IXC
IXC Risk / Return Rank: 7373
Overall Rank
IXC Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
IXC Sortino Ratio Rank: 6969
Sortino Ratio Rank
IXC Omega Ratio Rank: 6767
Omega Ratio Rank
IXC Calmar Ratio Rank: 8585
Calmar Ratio Rank
IXC Martin Ratio Rank: 7171
Martin Ratio Rank
EWM
EWM Risk / Return Rank: 4444
Overall Rank
EWM Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
EWM Sortino Ratio Rank: 4343
Sortino Ratio Rank
EWM Omega Ratio Rank: 4141
Omega Ratio Rank
EWM Calmar Ratio Rank: 4848
Calmar Ratio Rank
EWM Martin Ratio Rank: 4646
Martin Ratio Rank
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.

IXC vs. EWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Energy ETF (IXC) and iShares MSCI Malaysia ETF (EWM). 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.

IXCEWMDifference
Sharpe ratioReturn per unit of total volatility
2.08
1.36

+0.73

Sortino ratioReturn per unit of downside risk
2.70
1.92

+0.78

Omega ratioGain probability vs. loss probability

1.34

1.24

+0.10

Calmar ratioReturn relative to maximum drawdown

4.05

2.09

+1.96

Martin ratioReturn relative to average drawdown

11.55

6.65

+4.90

IXC vs. EWM - Sharpe Ratio Comparison

The current IXC Sharpe Ratio is 2.08, which is higher than the EWM Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of IXC and EWM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IXC vs. EWM - Drawdown Comparison

The maximum IXC drawdown since its inception was -67.88%, smaller than the maximum EWM drawdown of -89.19%. Use the drawdown chart below to compare losses from any high point for IXC and EWM.

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Drawdown Indicators

IXCEWMDifference

Max Drawdown

Largest peak-to-trough decline

-67.88%

-89.19%

+21.31%

Max Drawdown (1Y)

Largest decline over 1 year

-9.66%

-9.14%

-0.52%

Max Drawdown (3Y)

Largest decline over 3 years

-19.06%

-21.31%

+2.25%

Max Drawdown (5Y)

Largest decline over 5 years

-24.93%

-22.76%

-2.17%

Max Drawdown (10Y)

Largest decline over 10 years

-64.16%

-43.81%

-20.35%

Current Drawdown

Current decline from peak

-7.04%

-9.08%

+2.04%

Average Drawdown

Average peak-to-trough decline

-17.47%

-31.80%

+14.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.38%

2.87%

+0.51%

Volatility

IXC vs. EWM - Volatility Comparison

iShares Global Energy ETF (IXC) has a higher volatility of 6.44% compared to iShares MSCI Malaysia ETF (EWM) at 3.97%. This indicates that IXC's price experiences larger fluctuations and is considered to be riskier than EWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IXCEWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.44%

3.97%

+2.47%

Volatility (6M)

Calculated over the trailing 6-month period

15.63%

10.95%

+4.68%

Volatility (1Y)

Calculated over the trailing 1-year period

18.79%

14.10%

+4.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.53%

13.72%

+9.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.84%

16.27%

+10.57%

IXC vs. EWM - Expense Ratio Comparison

IXC has a 0.40% expense ratio, which is lower than EWM's 0.49% expense ratio.

Dividends

IXC vs. EWM - Dividend Comparison

IXC's dividend yield for the trailing twelve months is around 2.85%, less than EWM's 3.32% yield.

PositionTTM20252024202320222021202020192018201720162015
EWM
iShares MSCI Malaysia ETF		3.32%3.41%3.32%3.47%3.00%6.48%1.89%2.91%3.84%5.58%5.97%37.54%
IXC
iShares Global Energy ETF		2.85%3.68%4.56%3.45%4.76%3.98%4.86%7.00%3.51%3.05%2.86%3.77%

Frequently Asked Questions

IXC and EWM have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IXC has higher volatility (6.44%) compared to EWM (3.97%). In terms of maximum drawdown, IXC dropped -67.88% vs EWM's -89.19%.

On 10-year performance, IXC leads with 10.05% vs 2.79% for EWM. On fees, IXC is cheaper at 0.40% per year. On volatility, EWM has been the lower-risk option at 3.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IXC has performed better with a 10.05% return vs 2.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IXC is cheaper with a 0.40% expense ratio, compared with 0.49% for EWM.

EWM has the higher dividend yield at 3.32%, compared with 2.85% for IXC.

IXC is categorized as Energy Equities, while EWM is Asia Pacific Equities. IXC tracks S&P Global 1200 Energy Capped Index, while EWM tracks MSCI Malaysia Index. Their fees differ too: 0.40% for IXC and 0.49% for EWM.

IXC currently has the higher Sharpe Ratio (2.08 vs 1.36), 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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