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KSA vs. TUR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KSA vs. TUR

Last updated Aug 4, 2026
Documentation

KSA (iShares MSCI Saudi Arabia ETF) and TUR (iShares MSCI Turkey ETF) are both Emerging Markets Equities funds from iShares - KSA tracks the MSCI Saudi Arabia IMI 25/50 Index while TUR tracks the MSCI Turkey Investable Market Index. Both are passively managed. Over the past 10 years, KSA returned 7.97%/yr vs 2.87%/yr for TUR. Their 0.23 correlation means their historical movements had little consistent relationship. KSA charges 0.74%/yr vs 0.59%/yr for TUR.

Performance

KSA vs. TUR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Saudi Arabia ETF (KSA) and iShares MSCI Turkey ETF (TUR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, KSA achieves a 5.04% return, which is significantly lower than TUR's 11.52% return. Over the past 10 years, KSA has outperformed TUR with an annualized return of 7.97%, while TUR has yielded a comparatively lower 2.87% annualized return.

KSA

1D
1.92%
1M
0.78%
6M
-3.88%
YTD
5.04%
1Y
3.72%
3Y*
0.39%
5Y*
1.26%
10Y*
7.97%
ALL TIME*
6.20%

TUR

1D
-0.37%
1M
-3.61%
6M
-6.69%
YTD
11.52%
1Y
14.33%
3Y*
5.35%
5Y*
14.21%
10Y*
2.87%
ALL TIME*
1.05%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

KSA

iShares MSCI Saudi Arabia ETF
$21.47M$19.87M$20.11M

TUR

iShares MSCI Turkey ETF
$4.39M$3.77M$9.11M

KSA vs. TUR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
KSA
iShares MSCI Saudi Arabia ETF		5.04%-8.20%-0.19%15.05%-6.06%33.62%2.65%9.30%13.07%6.14%
TUR
iShares MSCI Turkey ETF		11.52%-1.54%12.91%-8.83%105.75%-27.41%-1.19%14.49%-41.46%37.58%

Correlation

The correlation between KSA and TUR is 0.25, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.25

Correlation (3Y)
Balances recent behavior with more history.

0.25

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.23

Correlation (10Y)
Provides a long-term view across more market conditions.

0.23

Correlation (All Time)
Calculated using the full available price history since Sep 17, 2015

0.23

KSA vs. TUR - Sectors Allocation Comparison

Sectors
KSA
TUR

Financial Services

41.1%
14.7%

Basic Materials

13.0%
12.0%

Energy

12.7%
7.4%

Communication Services

8.2%
3.1%

Healthcare

4.7%
2.2%

Utilities

4.6%
1.9%

Consumer Cyclical

4.3%
4.0%

Consumer Defensive

3.8%
13.0%

Industrials

3.5%
24.2%

Real Estate

2.5%
1.1%

Technology

1.7%
1.5%

Financial Services

KSA
41.1%
TUR
14.7%

Basic Materials

KSA
13.0%
TUR
12.0%

Energy

KSA
12.7%
TUR
7.4%

Communication Services

KSA
8.2%
TUR
3.1%

Healthcare

KSA
4.7%
TUR
2.2%

Utilities

KSA
4.6%
TUR
1.9%

Consumer Cyclical

KSA
4.3%
TUR
4.0%

Consumer Defensive

KSA
3.8%
TUR
13.0%

Industrials

KSA
3.5%
TUR
24.2%

Real Estate

KSA
2.5%
TUR
1.1%

Technology

KSA
1.7%
TUR
1.5%

Compare stocks, funds, or ETFs

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

iShares MSCI Saudi Arabia ETF

iShares MSCI Turkey ETF

Often compared with KSA:
KSA vs. UAEKSA vs. SPUSKSA vs. FLSAKSA vs. QATKSA vs. SPWOKSA vs. HLALKSA vs. EZA
Often compared with TUR:
TUR vs. VOOTUR vs. HEDJTUR vs. AMRTUR vs. EPOLTUR vs. SPYTUR vs. SFMTUR vs. VGK

Return for Risk

KSA vs. TUR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
KSA
KSA Risk / Return Rank: 1616
Overall Rank
KSA Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
KSA Sortino Ratio Rank: 1616
Sortino Ratio Rank
KSA Omega Ratio Rank: 1616
Omega Ratio Rank
KSA Calmar Ratio Rank: 1616
Calmar Ratio Rank
KSA Martin Ratio Rank: 1616
Martin Ratio Rank
TUR
TUR Risk / Return Rank: 2626
Overall Rank
TUR Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
TUR Sortino Ratio Rank: 2626
Sortino Ratio Rank
TUR Omega Ratio Rank: 2727
Omega Ratio Rank
TUR Calmar Ratio Rank: 2828
Calmar Ratio Rank
TUR Martin Ratio Rank: 2626
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KSA vs. TUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Saudi Arabia ETF (KSA) and iShares MSCI Turkey ETF (TUR). 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.

KSATURDifference
Sharpe ratioReturn per unit of total volatility
0.23
0.59

-0.36

Sortino ratioReturn per unit of downside risk
0.50
0.98

-0.48

Omega ratioGain probability vs. loss probability

1.06

1.13

-0.07

Calmar ratioReturn relative to maximum drawdown

0.32

0.90

-0.57

Martin ratioReturn relative to average drawdown

0.67

2.17

-1.50

KSA vs. TUR - Sharpe Ratio Comparison

The current KSA Sharpe Ratio is 0.23, which is lower than the TUR Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of KSA and TUR, 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

KSA vs. TUR - Drawdown Comparison

The maximum KSA drawdown since its inception was -40.56%, smaller than the maximum TUR drawdown of -72.34%. Use the drawdown chart below to compare losses from any high point for KSA and TUR.

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Drawdown Indicators

KSATURDifference

Max Drawdown

Largest peak-to-trough decline

-40.56%

-72.34%

+31.78%

Max Drawdown (1Y)

Largest decline over 1 year

-11.62%

-16.07%

+4.45%

Max Drawdown (3Y)

Largest decline over 3 years

-15.28%

-31.63%

+16.35%

Max Drawdown (5Y)

Largest decline over 5 years

-28.08%

-31.63%

+3.55%

Max Drawdown (10Y)

Largest decline over 10 years

-40.56%

-59.25%

+18.69%

Current Drawdown

Current decline from peak

-16.63%

-29.81%

+13.18%

Average Drawdown

Average peak-to-trough decline

-11.51%

-39.79%

+28.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.54%

6.61%

-1.07%

Volatility

KSA vs. TUR - Volatility Comparison

The current volatility for iShares MSCI Saudi Arabia ETF (KSA) is 3.38%, while iShares MSCI Turkey ETF (TUR) has a volatility of 4.69%. This indicates that KSA experiences smaller price fluctuations and is considered to be less risky than TUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

KSATURDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.38%

4.69%

-1.31%

Volatility (6M)

Calculated over the trailing 6-month period

11.61%

20.09%

-8.48%

Volatility (1Y)

Calculated over the trailing 1-year period

16.50%

24.59%

-8.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.97%

34.15%

-18.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.98%

34.11%

-14.13%

KSA vs. TUR - Expense Ratio Comparison

KSA has a 0.74% expense ratio, which is higher than TUR's 0.59% expense ratio.

Dividends

KSA vs. TUR - Dividend Comparison

KSA's dividend yield for the trailing twelve months is around 2.74%, more than TUR's 2.21% yield.

PositionTTM20252024202320222021202020192018201720162015
KSA
iShares MSCI Saudi Arabia ETF		2.74%2.95%3.44%2.44%1.93%1.58%1.76%2.15%2.51%2.30%3.05%0.04%
TUR
iShares MSCI Turkey ETF		2.21%2.40%1.79%4.43%1.97%4.22%0.87%3.29%4.05%2.64%2.89%3.04%

Frequently Asked Questions

KSA and TUR have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TUR has higher volatility (4.69%) compared to KSA (3.38%). In terms of maximum drawdown, KSA dropped -40.56% vs TUR's -72.34%.

On 10-year performance, KSA leads with 7.97% vs 2.87% for TUR. On fees, TUR is cheaper at 0.59% per year. On volatility, KSA has been the lower-risk option at 3.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, KSA has performed better with a 7.97% return vs 2.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

TUR is cheaper with a 0.59% expense ratio, compared with 0.74% for KSA.

KSA has the higher dividend yield at 2.74%, compared with 2.21% for TUR.

KSA tracks MSCI Saudi Arabia IMI 25/50 Index, while TUR tracks MSCI Turkey Investable Market Index. Their fees differ too: 0.74% for KSA and 0.59% for TUR.

TUR currently has the higher Sharpe Ratio (0.59 vs 0.23), 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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