EWQ vs SPY
iShares MSCI France ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | EWQ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $340M | $821.1B | |
| Dividend Yield | 2.82% | 1.01% | |
| Holdings | 61 | 505 | |
| YTD Return | +3.49% | +12.22% | |
| 1Y Return | +7.18% | +20.83% | |
| 3Y Return (annualized) | +10.20% | +21.70% | |
| 5Y Return (annualized) | +7.38% | +12.98% | |
| Volatility (annualized) | 20.6% | 15.3% | |
| Max Drawdown | -64.0% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 12, 1996 | Jan 22, 1993 |
EWQ vs SPY Performance
iShares MSCI France ETF (EWQ) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EWQ returned +7.18% while SPY returned +20.83%. Year to date, EWQ is up 3.49% versus a gain of 12.22% for SPY.
Over three years, EWQ compounded at +10.20% per year against +21.70% for SPY; over five years the annualized figures are +7.38% and +12.98% respectively. Across the full 30-year window we track, SPY has the edge at +8.79% annualized vs +4.75%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EWQ has been the more volatile fund, with annualized monthly volatility of 20.6% compared with 15.3% for SPY. 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 -64.0% for EWQ and -56.5% for SPY. 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EWQ charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, EWQ currently yields 2.82% against 1.01% for SPY.
Holdings Overlap
EWQ and SPY share 1 holdings out of 560 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in EWQ | Weight in SPY | Difference |
|---|---|---|---|
| DG | 3.02% | 0.04% | 2.98% |
Frequently Asked Questions
Which is cheaper, EWQ or SPY?
EWQ has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, EWQ or SPY?
Over the past year EWQ returned +7.18% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (30 years), EWQ annualized +4.75% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, EWQ or SPY?
EWQ has been the more volatile fund at 20.6% annualized versus 15.3% for SPY. Worst drawdown: EWQ -64.0% vs SPY -56.5%.
Should I hold both EWQ and SPY?
EWQ and SPY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EWQ and SPY?
EWQ and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 560 unique securities.
Which pays a higher dividend, EWQ or SPY?
EWQ yields 2.82% while SPY yields 1.01%, so EWQ currently pays the higher dividend yield.
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