VIAV vs. EWP
VIAV (Viavi Solutions Inc.) is a stock, while EWP (iShares MSCI Spain ETF) is Europe Equities fund tracking the MSCI Spain Index. Over the past 10 years, VIAV returned 22.10%/yr vs 13.29%/yr for EWP. At a 0.39 correlation, their price movements are largely independent.
Performance
VIAV vs. EWP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VIAV achieves a 177.27% return, which is significantly higher than EWP's 9.99% return. Over the past 10 years, VIAV has outperformed EWP with an annualized return of 22.10%, while EWP has yielded a comparatively lower 13.29% annualized return.
VIAV
- 1D
- -1.12%
- 1M
- -0.20%
- YTD
- 177.27%
- 6M
- 170.59%
- 1Y
- 398.59%
- 3Y*
- 68.11%
- 5Y*
- 22.94%
- 10Y*
- 22.10%
EWP
- 1D
- -1.14%
- 1M
- 4.93%
- YTD
- 9.99%
- 6M
- 9.97%
- 1Y
- 37.57%
- 3Y*
- 32.53%
- 5Y*
- 18.41%
- 10Y*
- 13.29%
VIAV vs. EWP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIAV Viavi Solutions Inc. | 177.27% | 76.44% | 0.30% | -4.19% | -40.35% | 17.66% | -0.17% | 49.25% | 14.99% | 6.85% |
EWP iShares MSCI Spain ETF | 9.99% | 78.03% | 5.70% | 30.26% | -5.18% | 0.25% | -3.94% | 11.93% | -15.32% | 26.98% |
Correlation
The correlation between VIAV and EWP is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2015 | 0.39 |
The correlation between VIAV and EWP shifts across timeframes, from 0.29 (3 years) to 0.39 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VIAV vs. EWP — Risk / Return Rank
VIAV
EWP
VIAV vs. EWP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Viavi Solutions Inc. (VIAV) and iShares MSCI Spain ETF (EWP). 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.
| VIAV | EWP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.23 | ||
| Sortino ratioReturn per unit of downside risk | +2.61 | ||
| Omega ratioGain probability vs. loss probability | 1.74 | 1.35 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 19.01 | 3.32 | +15.70 |
| Martin ratioReturn relative to average drawdown | 66.10 | 11.75 | +54.35 |
Loading charts...
Drawdowns
VIAV vs. EWP - Drawdown Comparison
The maximum VIAV drawdown since its inception was -62.88%, roughly equal to the maximum EWP drawdown of -61.19%. Use the drawdown chart below to compare losses from any high point for VIAV and EWP.
Loading charts...
Drawdown Indicators
| VIAV | EWP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.88% | -61.19% | -1.69% |
Max Drawdown (1Y)Largest decline over 1 year | -21.13% | -11.38% | -9.75% |
Max Drawdown (3Y)Largest decline over 3 years | -42.19% | -12.19% | -30.00% |
Max Drawdown (5Y)Largest decline over 5 years | -62.88% | -31.63% | -31.25% |
Max Drawdown (10Y)Largest decline over 10 years | -62.88% | -46.36% | -16.52% |
Current DrawdownCurrent decline from peak | -10.70% | -1.85% | -8.85% |
Average DrawdownAverage peak-to-trough decline | -20.20% | -21.39% | +1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.07% | 3.21% | +2.86% |
Volatility
VIAV vs. EWP - Volatility Comparison
Viavi Solutions Inc. (VIAV) has a higher volatility of 28.34% compared to iShares MSCI Spain ETF (EWP) at 5.37%. This indicates that VIAV's price experiences larger fluctuations and is considered to be riskier than EWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VIAV | EWP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 28.34% | 5.37% | +22.97% |
Volatility (6M)Calculated over the trailing 6-month period | 55.41% | 16.12% | +39.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.48% | 18.84% | +45.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.58% | 20.29% | +23.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.78% | 21.56% | +17.22% |
Dividends
VIAV vs. EWP - Dividend Comparison
VIAV has not paid dividends to shareholders, while EWP's dividend yield for the trailing twelve months is around 2.85%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWP iShares MSCI Spain ETF | 2.85% | 2.27% | 4.35% | 2.70% | 3.07% | 3.29% | 2.56% | 3.72% | 3.69% | 2.72% | 4.65% | 3.85% |
VIAV Viavi Solutions Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 77.01% |
Frequently Asked Questions
VIAV and EWP have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIAV has higher volatility (28.34%) compared to EWP (5.37%). In terms of maximum drawdown, VIAV dropped -62.88% vs EWP's -61.19%.
VIAV currently has the higher Sharpe Ratio (6.24 vs 2.01), 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.
Find the right allocation for VIAV and EWP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer