SPQ vs. EWI

Last updated Apr 1, 2026

Compare and contrast key facts about Simplify US Equity Plus QIS ETF (SPQ) and iShares MSCI Italy ETF (EWI).

SPQ and EWI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPQ is an actively managed fund by Simplify. It was launched on Nov 13, 2023. EWI is a passively managed fund by iShares that tracks the performance of the MSCI Italy Index. It was launched on Mar 12, 1996.

Performance

SPQ vs. EWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity Plus QIS ETF (SPQ) and iShares MSCI Italy ETF (EWI). The values are adjusted to include any dividend payments, if applicable.

SPQ vs. EWI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPQ Simplify US Equity Plus QIS ETF	0.00%	-4.67%	20.38%	5.51%
EWI iShares MSCI Italy ETF	-1.67%	55.72%	10.23%	6.06%

Returns By Period

SPQ

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EWI

• 1D: 4.11%
• 1M: -6.82%
• YTD: -1.67%
• 6M: 4.18%
• 1Y: 30.14%
• 3Y*: 24.97%
• 5Y*: 14.90%
• 10Y*: 12.01%

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

SPQ vs. EWI - Expense Ratio Comparison

SPQ has a 1.00% expense ratio, which is higher than EWI's 0.49% expense ratio.

SPQ

Simplify US Equity Plus QIS ETF

EWI

iShares MSCI Italy ETF

Return for Risk

SPQ vs. EWI — Risk / Return Rank

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

EWI

EWI Risk / Return Rank: 78
EWI Sharpe Ratio Rank: 79
EWI Sortino Ratio Rank: 80
EWI Omega Ratio Rank: 77
EWI Calmar Ratio Rank: 78
EWI Martin Ratio Rank: 78

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.

SPQ vs. EWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity Plus QIS ETF (SPQ) and iShares MSCI Italy ETF (EWI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SPQ	EWI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.41	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.72	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.22	—

Correlation

The correlation between SPQ and EWI is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SPQ vs. EWI - Dividend Comparison

SPQ has not paid dividends to shareholders, while EWI's dividend yield for the trailing twelve months is around 2.85%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPQ Simplify US Equity Plus QIS ETF	0.00%	0.31%	17.17%	1.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EWI iShares MSCI Italy ETF	2.85%	2.80%	4.07%	3.40%	4.57%	2.63%	1.66%	3.80%	4.71%	2.19%	3.64%	2.31%

Drawdowns

Drawdown Indicators

	SPQ	EWI	Difference
Max Drawdown Largest peak-to-trough decline	—	-70.38%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-14.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.25%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.00%	—
Current Drawdown Current decline from peak	—	-7.79%	—
Average Drawdown Average peak-to-trough decline	—	-29.10%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.55%	—

Volatility

Volatility by Period

	SPQ	EWI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.91%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.16%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	21.46%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	20.95%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	23.29%	—