EWC — iShares MSCI Canada ETF
Single Country - Developed Ranked #21 of 458 tracked ETFs · Issued by iShares
EWC Price Performance — Growth of $10,000
Value of a $10,000 investment in EWC over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
EWC Drawdown
The "underwater" chart: EWC's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in EWC?
See what a lump sum in EWC would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The iShares MSCI Canada ETF (EWC) is a Single Country - Developed fund issued by iShares, managing $7.02 billion in assets. It holds a B+ grade and ranks 1 of 18 within its category, placing it 21st among all 458 tracked ETFs. The fund’s 0.5% expense ratio matches the category median, but its 1.24% dividend yield trails the peer average of 3.49%. Concentration is notable, with the top 10 holdings comprising 44.1% of assets, led by a 9.0% position in Royal Bank of Canada.
Priced at $60.69, the ETF sits at 84.9% of its 52-week range, reflecting a strong upward trajectory. Short-term momentum is evident, with one-month and three-month returns of 2.10% and 2.19% respectively, while the one-year return of 22.55% significantly outpaces the category median of 15.82%. This strength contributed to an upgrade from B to B+ on 2026-10-16. The fund’s performance history is limited to 3.0 years, which constrains the depth of long-term trend analysis.
With a beta of 0.80, the fund exhibits lower sensitivity to market movements compared to the broader index. Annualized volatility of 14.67% is classified as Low, supporting a robust Sharpe ratio of 1.20. The maximum drawdown of -12.97% indicates moderate downside protection during recent periods. Liquidity is sufficient for trading, evidenced by an average daily volume of 1,731,189 shares.
AI-generated summary based on the data on this page.
EWC Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | ROYAL BANK OF CANADA | 8.98% | $615M |
| 2 | THE TORONTO-DOMINION BANK | 6.30% | $431M |
| 3 | SHOPIFY INC. | 5.68% | $389M |
| 4 | BANK OF MONTREAL | 3.69% | $253M |
| 5 | THE BANK OF NOVA SCOTIA | 3.55% | $243M |
| 6 | Enbridge Inc. | 3.47% | $238M |
| 7 | CANADIAN NATURAL RESOURCES LIMITED | 3.29% | $225M |
| 8 | CANADIAN IMPERIAL BANK OF COMMERCE | 3.28% | $224M |
| 9 | AGNICO EAGLE MINES LIMITED | 3.24% | $222M |
| 10 | Canadian Pacific Kansas City Limited | 2.60% | $178M |
Holdings as of 2026-08-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 44.1% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how EWC's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With EWC
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with EWC's top 10 — VIGI overlaps most, holding 2 of the same companies as EWC's top 10 (15.3% of EWC's assets).
| ETF | Name | Shared Companies | EWC Weight | Examples |
|---|---|---|---|---|
| VIGI | Vanguard International Dividend Appreciation Index Fund ETF Shares | 2 | 15.3% | ROYAL BANK OF CANADA, THE TORONTO-DOMINION BANK |
| SCHF | Schwab International Equity ETF | 1 | 9.0% | ROYAL BANK OF CANADA |
| VEA | Vanguard FTSE Developed Markets Index Fund ETF Shares | 1 | 9.0% | ROYAL BANK OF CANADA |
| SPDW | State Street SPDR Portfolio Developed World ex-US ETF | 1 | 9.0% | ROYAL BANK OF CANADA |
| VXUS | Vanguard Total International Stock Index Fund ETF Shares | 1 | 9.0% | ROYAL BANK OF CANADA |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
Market Backdrop
10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What EWC's Fees Cost You
EWC charges an expense ratio of 0.50% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
EWC Dividend Income Estimator
EWC currently yields 1.24%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
EWC Liquidity, Domicile & Tax Treatment
Liquidity: Average daily volume is 1.7M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $7.02B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: EWC is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
EWC Performance History
| Period | Return |
|---|---|
| 1-Day | -0.41% |
| 1-Week | +0.18% |
| 1-Month | +2.10% |
| 3-Month | +2.19% |
| 6-Month | +5.24% |
| YTD | +12.52% |
| 1-Year | +22.55% |
| 3-Year | +101.76% |
How EWC Compares to Other Single Country - Developed ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #21 | B+ |
EWC | iShares MSCI Canada ETF | +22.55% | 0.5% | $7.02B |
| #58 | B |
DXJ | WisdomTree Japan Hedged Equity Fund | +33.42% | 0.48% | $7.09B |
| #76 | B |
EWP | iShares MSCI Spain ETF | +20.03% | 0.5% | $2.38B |
| #81 | B |
FLJP | Franklin FTSE Japan ETF | +19.22% | 0.09% | $4.17B |
| #88 | B |
BBJP | JPMorgan BetaBuilders Japan ETF | +17.99% | 0.19% | $19.7B |
| #108 | B |
EWJ | iShares MSCI Japan ETF | +19.43% | 0.49% | $23.5B |
| #136 | B |
EWU | iShares MSCI United Kingdom ETF | +15.85% | 0.5% | $3.67B |
| #137 | B |
EIS | iShares MSCI Israel ETF | +23.80% | 0.59% | $874M |
| #147 | B |
HEWJ | iShares Currency Hedged MSCI Japan ETF | +26.79% | 0.49% | $653M |
| #166 | B |
EWS | iShares MSCI Singapore ETF | +15.79% | 0.5% | $1.43B |
| #231 | C |
EWL | iShares MSCI Switzerland ETF | +12.29% | 0.5% | $2.67B |
| #240 | C |
EWI | iShares MSCI Italy ETF | +12.12% | 0.5% | $1.17B |
| #272 | C |
EWN | iShares MSCI Netherlands ETF | +15.03% | 0.5% | $710M |
| #347 | C |
EWD | iShares MSCI Sweden ETF | +7.98% | 0.51% | $947M |
| #360 | C |
EWG | iShares MSCI Germany ETF | +0.78% | 0.49% | $1.47B |
| #366 | D |
EWA | iShares MSCI Australia ETF | +10.95% | 0.5% | $1.21B |
| #386 | D |
EWH | iShares MSCI Hong Kong ETF | +8.37% | 0.5% | $1.17B |
| #413 | D |
EWQ | iShares MSCI France ETF | -5.20% | 0.5% | $341M |