XEML vs. EWP
XEML (Xtrackers Europe Market Leaders ETF) and EWP (iShares MSCI Spain ETF) are both Europe Equities funds - XEML tracks the STOXX Europe Total Market Leaders Index while EWP tracks the MSCI Spain Index. Both are passively managed. Their correlation of 0.82 suggests significant overlap in exposure. XEML charges 0.35%/yr vs 0.50%/yr for EWP.
Performance
XEML vs. EWP - Performance Comparison
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Returns By Period
In the year-to-date period, XEML achieves a 4.05% return, which is significantly lower than EWP's 10.82% return.
XEML
- 1D
- 0.95%
- 1M
- 1.17%
- YTD
- 4.05%
- 6M
- 3.58%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EWP
- 1D
- 0.75%
- 1M
- 3.38%
- YTD
- 10.82%
- 6M
- 10.79%
- 1Y
- 40.57%
- 3Y*
- 32.62%
- 5Y*
- 18.59%
- 10Y*
- 13.38%
XEML vs. EWP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XEML Xtrackers Europe Market Leaders ETF | 4.05% | -0.42% |
EWP iShares MSCI Spain ETF | 10.82% | 0.52% |
Correlation
The correlation between XEML and EWP is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025 | 0.82 |
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Return for Risk
XEML vs. EWP — Risk / Return Rank
XEML
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EWP
XEML vs. EWP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Europe Market Leaders ETF (XEML) 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.
| XEML | EWP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.38 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.58 | — |
| Martin ratioReturn relative to average drawdown | — | 12.69 | — |
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Drawdowns
XEML vs. EWP - Drawdown Comparison
The maximum XEML drawdown since its inception was -13.49%, smaller than the maximum EWP drawdown of -61.19%. Use the drawdown chart below to compare losses from any high point for XEML and EWP.
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Drawdown Indicators
| XEML | EWP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.49% | -61.19% | +47.70% |
Max Drawdown (1Y)Largest decline over 1 year | — | -11.38% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.19% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.63% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.36% | — |
Current DrawdownCurrent decline from peak | -4.46% | -1.11% | -3.35% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -21.39% | +16.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.21% | — |
Volatility
XEML vs. EWP - Volatility Comparison
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Volatility by Period
| XEML | EWP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.97% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 16.13% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 19.55% | 18.80% | +0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.55% | 20.29% | -0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.55% | 21.55% | -2.00% |
XEML vs. EWP - Expense Ratio Comparison
XEML has a 0.35% expense ratio, which is lower than EWP's 0.50% expense ratio.
Dividends
XEML vs. EWP - Dividend Comparison
XEML's dividend yield for the trailing twelve months is around 1.79%, less than EWP's 2.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWP iShares MSCI Spain ETF | 2.83% | 2.27% | 4.35% | 2.70% | 3.07% | 3.29% | 2.56% | 3.72% | 3.69% | 2.72% | 4.65% | 3.85% |
XEML Xtrackers Europe Market Leaders ETF | 1.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XEML and EWP have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEML is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEML is cheaper with a 0.35% expense ratio, compared with 0.50% for EWP.
EWP has the higher dividend yield at 2.83%, compared with 1.79% for XEML.
XEML tracks STOXX Europe Total Market Leaders Index, while EWP tracks MSCI Spain Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.35% for XEML and 0.50% for EWP.
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