TUR vs. USDX
TUR (iShares MSCI Turkey ETF) and USDX (SGI Enhanced Core ETF) are both exchange-traded funds - TUR is a Emerging Markets Equities fund tracking the MSCI Turkey Investable Market Index, while USDX is a Intermediate Core Bond fund actively managed by Summit Global Investments. TUR is passively managed, while USDX is actively managed. Over the past year, TUR returned 36.03% vs 6.47% for USDX. At a correlation of -0.07, they often move in opposite directions. TUR charges 0.59%/yr vs 0.98%/yr for USDX.
Performance
TUR vs. USDX - Performance Comparison
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Returns By Period
In the year-to-date period, TUR achieves a 17.67% return, which is significantly higher than USDX's 2.55% return.
TUR
- 1D
- -1.23%
- 1M
- 2.95%
- YTD
- 17.67%
- 6M
- 16.33%
- 1Y
- 36.03%
- 3Y*
- 14.79%
- 5Y*
- 15.96%
- 10Y*
- 3.43%
USDX
- 1D
- 0.04%
- 1M
- 0.31%
- YTD
- 2.55%
- 6M
- 2.67%
- 1Y
- 6.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TUR vs. USDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TUR iShares MSCI Turkey ETF | 17.67% | -1.54% | -2.28% |
USDX SGI Enhanced Core ETF | 2.55% | 6.25% | 6.87% |
Correlation
The correlation between TUR and USDX is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024 | -0.07 |
The correlation between TUR and USDX shifts across timeframes, from -0.19 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TUR vs. USDX — Risk / Return Rank
TUR
USDX
TUR vs. USDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Turkey ETF (TUR) and SGI Enhanced Core ETF (USDX). 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.
| TUR | USDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -2.92 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.77 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 6.93 | -4.68 |
| Martin ratioReturn relative to average drawdown | 6.32 | 44.33 | -38.01 |
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Drawdowns
TUR vs. USDX - Drawdown Comparison
The maximum TUR drawdown since its inception was -72.34%, which is greater than USDX's maximum drawdown of -0.94%. Use the drawdown chart below to compare losses from any high point for TUR and USDX.
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Drawdown Indicators
| TUR | USDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.34% | -0.94% | -71.40% |
Max Drawdown (1Y)Largest decline over 1 year | -16.07% | -0.94% | -15.13% |
Max Drawdown (3Y)Largest decline over 3 years | -31.63% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -59.25% | — | — |
Current DrawdownCurrent decline from peak | -25.94% | 0.00% | -25.94% |
Average DrawdownAverage peak-to-trough decline | -39.86% | -0.06% | -39.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.72% | 0.15% | +5.57% |
Volatility
TUR vs. USDX - Volatility Comparison
iShares MSCI Turkey ETF (TUR) has a higher volatility of 10.32% compared to SGI Enhanced Core ETF (USDX) at 1.06%. This indicates that TUR's price experiences larger fluctuations and is considered to be riskier than USDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TUR | USDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.32% | 1.06% | +9.26% |
Volatility (6M)Calculated over the trailing 6-month period | 20.48% | 1.90% | +18.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.50% | 2.07% | +23.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.16% | 1.74% | +32.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.30% | 1.74% | +32.56% |
TUR vs. USDX - Expense Ratio Comparison
TUR has a 0.59% expense ratio, which is lower than USDX's 0.98% expense ratio.
Dividends
TUR vs. USDX - Dividend Comparison
TUR's dividend yield for the trailing twelve months is around 2.10%, less than USDX's 5.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TUR iShares MSCI Turkey ETF | 2.10% | 2.40% | 1.79% | 4.43% | 1.97% | 4.22% | 0.87% | 3.29% | 4.05% | 2.64% | 2.89% | 3.04% |
USDX SGI Enhanced Core ETF | 5.86% | 5.88% | 4.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TUR and USDX have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TUR has higher volatility (10.32%) compared to USDX (1.06%). In terms of maximum drawdown, TUR dropped -72.34% vs USDX's -0.94%.
On 1-year performance, TUR leads with 36.03% vs 6.47% for USDX. On fees, TUR is cheaper at 0.59% per year. On volatility, USDX has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TUR has performed better with a 36.03% return vs 6.47%. 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 0.98% for USDX.
USDX has the higher dividend yield at 5.86%, compared with 2.10% for TUR.
TUR is categorized as Emerging Markets Equities, while USDX is Intermediate Core Bond. They also come from different issuers: iShares and Summit Global Investments. Their fees differ too: 0.59% for TUR and 0.98% for USDX.
USDX currently has the higher Sharpe Ratio (3.14 vs 1.42), 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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