EWI vs VOO
iShares MSCI Italy ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. EWI delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | EWI | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.03% | |
| AUM | $1.1B | $997.4B | |
| Dividend Yield | 3.04% | 1.08% | |
| Holdings | 33 | 509 | |
| YTD Return | +16.97% | +14.27% | |
| 1Y Return | +26.77% | +21.79% | |
| 3Y Return (annualized) | +30.45% | +22.19% | |
| 5Y Return (annualized) | +17.69% | +13.28% | |
| Volatility (annualized) | 23.9% | 14.2% | |
| Max Drawdown | -75.1% | -34.3% | |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Mar 12, 1996 | Sep 7, 2010 |
EWI vs VOO Performance
iShares MSCI Italy ETF (EWI) is a ETF from iShares by BlackRock (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year EWI returned +26.77% while VOO returned +21.79%. Year to date, EWI is up 16.97% versus a gain of 14.27% for VOO.
Over three years, EWI compounded at +30.45% per year against +22.19% for VOO; over five years the annualized figures are +17.69% and +13.28% respectively. Across the full 16-year window we track, VOO has the edge at +13.59% annualized vs +3.48%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EWI has been the more volatile fund, with annualized monthly volatility of 23.9% compared with 14.2% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -75.1% for EWI and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EWI charges 0.50% per year while VOO charges 0.03%. On a $10,000 position that is $50 vs $3 annually, a gap of $47 per year that compounds over a long holding period. On income, EWI currently yields 3.04% against 1.08% for VOO.
Holdings Overlap
EWI and VOO share 0 holdings out of 531 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EWI or VOO?
EWI has an expense ratio of 0.50% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, EWI or VOO?
Over the past year EWI returned +26.77% vs +21.79% for VOO, so EWI leads on 1-year performance. Over the longest common window we track (16 years), EWI annualized +3.48% vs +13.59% for VOO. Past performance does not guarantee future results.
Which is riskier, EWI or VOO?
EWI has been the more volatile fund at 23.9% annualized versus 14.2% for VOO. Worst drawdown: EWI -75.1% vs VOO -34.3%.
Should I hold both EWI and VOO?
EWI and VOO have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EWI and VOO?
EWI and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 531 unique securities.
Which pays a higher dividend, EWI or VOO?
EWI yields 3.04% while VOO yields 1.08%, so EWI currently pays the higher dividend yield.
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