ARB vs EWK

Comparison between ALTSHARES MERGER ARBITRAGE ETF (ARB, ETF) and ISHARES MSCI BELGIUM ETF (EWK, ETF).

5-Year PerformanceEWK has outperformed ARB, delivering a return of +6.4% compared to +3.9%

ARB vs EWK - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ARB(ETF)	EWK(ETF)
Net Assets	$103M	$103M
Expense Ratio	0.76%	0.49%
Max Drawdown	9.39%	76.53%
Sharpe Ratio	0.33	1.33
5Y Beta	0.05	0.47
5Y Dividends CAGR	-9.74%	4.09%

Net Assets

ARB

$103M

Winner

EWK

$103M

Expense Ratio

ARB

0.76%

Winner

EWK

0.49%

Max Drawdown

Winner

ARB

9.39%

EWK

76.53%

Sharpe Ratio

ARB

0.33

Winner

EWK

1.33

5Y Beta

Winner

ARB

0.05

EWK

0.47

5Y Dividends CAGR

ARB

-9.74%

Winner

EWK

4.09%

ARB vs EWK - Historical Returns

Returns include dividend reinvestment.

Period	ARB	EWK
1 month	-0.20%	+4.77%
3 months	+1.68%	+12.84%
6 months	+2.11%	+14.48%
1 year	+5.15%	+25.57%
5 years(CAGR)	+3.94%	+6.38%
10 years(CAGR)	N/A	+7.16%
Max(CAGR)	+4.20%	+5.20%

ARB

-0.20%

Winner

EWK

+4.77%

ARB

+1.68%

Winner

EWK

+12.84%

ARB

+2.11%

Winner

EWK

+14.48%

ARB

+5.15%

Winner

EWK

+25.57%

5Y(CAGR)

ARB

+3.94%

Winner

EWK

+6.38%

10Y(CAGR)

ARB

N/A

EWK

+7.16%

Max(CAGR)

ARB

+4.20%

Winner

EWK

+5.20%

ARB vs EWK - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	ARB	EWK
2026	+2.31%	+13.16%
2025	+5.80%	+35.87%
2024	+4.07%	+1.33%
2023	+3.94%	+7.19%
2022	+2.81%	-15.08%
2021	+3.29%	+11.60%
2020	+3.79%	-0.97%
2019	N/A	+26.61%
2018	N/A	-20.92%
2017	N/A	+23.57%
2016	N/A	-0.64%
2015	N/A	+13.66%
2014	N/A	+2.19%
2013	N/A	+24.29%
2012	N/A	+31.94%
2011	N/A	-16.35%
2010	N/A	+1.34%
2009	N/A	+44.49%
2008	N/A	-62.08%
2007	N/A	-3.13%
2006	N/A	+30.72%
2005	N/A	+7.66%
2004	N/A	+42.99%
2003	N/A	+37.15%
2002	N/A	-10.75%
2001	N/A	-13.53%
2000	N/A	-20.19%
1999	N/A	+2.80%

ARB vs EWK Drawdown Comparison

The maximum drawdown for ARB was -5.59%, occurring on May 22, 2023. Recovery took 215 trading sessions.

The maximum drawdown for EWK was -74.13%, occurring on Mar 9, 2009. Recovery took 2491 trading sessions.

The current ARB drawdown is -0.50%.

Rank	ARB	EWK
#1	-5.59% Nov 1, 2022 - Sep 12, 2023	-74.13% Jul 12, 2007 - Jun 2, 2017
#2	-5.11% Dec 17, 2021 - Aug 9, 2022	-53.88% Nov 17, 1999 - Aug 26, 2004
#3	-3.61% May 8, 2020 - Jul 15, 2020	-42.79% Jan 26, 2018 - Apr 21, 2021
#4	-3.16% Jan 8, 2021 - Apr 15, 2021	-35.17% Jun 15, 2021 - Apr 29, 2025
#5	-2.13% Apr 3, 2024 - Jul 16, 2024	-16.05% May 10, 2006 - Aug 30, 2006
#6	-1.99% Nov 7, 2024 - Jan 15, 2025	-15.47% Feb 17, 2026 - Jun 11, 2026
#7	-1.89% Jun 16, 2021 - Oct 7, 2021	-9.13% Mar 9, 2005 - Aug 11, 2005
#8	-1.67% Aug 15, 2022 - Oct 25, 2022	-8.75% Feb 14, 2007 - Apr 3, 2007
#9	-1.27% Mar 31, 2025 - May 16, 2025	-6.06% Aug 11, 2005 - Dec 12, 2005
#10	-1.07% Jun 5, 2026 - Jun 10, 2026	-5.86% May 7, 2007 - Jul 12, 2007
#11	-0.95% Dec 27, 2023 - Feb 26, 2024	-5.14% Dec 28, 2004 - Feb 14, 2005
#12	-0.92% Nov 3, 2021 - Dec 17, 2021	-4.38% Jul 23, 2025 - Aug 14, 2025
#13	-0.92% Aug 19, 2020 - Oct 9, 2020	-4.29% Jun 2, 2017 - Jul 20, 2017
#14	-0.69% May 12, 2026 - Jun 5, 2026	-4.20% Oct 13, 2017 - Jan 4, 2018
#15	-0.67% Mar 4, 2026 - Mar 31, 2026	-4.15% Oct 8, 2004 - Oct 26, 2004

Correlation

Correlation between ARB and EWK is 0.81 which considered as a strong positive correlation - the stocks tend to move together.

0.81

-101

Dividend Comparison (2000 - 2025)

ARB vs EWK dividend yield comparison.

Year	ARB	EWK
2025	0.43%	1.73%
2024	1.12%	3.25%
2023	0.00%	2.09%
2022	4.18%	2.58%
2021	0.00%	3.64%
2020	2.87%	1.66%
2019	0.00%	2.77%
2018	0.00%	2.78%
2017	0.00%	2.91%
2016	0.00%	1.75%
2015	0.00%	2.06%
2014	0.00%	1.85%
2013	0.00%	4.62%
2012	0.00%	2.70%
2011	0.00%	5.35%
2010	0.00%	1.86%
2009	0.00%	1.81%
2008	0.00%	13.65%
2007	0.00%	2.95%
2006	0.00%	1.72%
2005	0.00%	4.23%
2004	0.00%	1.54%
2003	0.00%	7.76%
2002	0.00%	1.15%
2001	0.00%	2.75%
2000	0.00%	3.10%