EWG — iShares MSCI Germany ETF

EWG Price Performance — Growth of $10,000

Value of a $10,000 investment in EWG 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.

EWG Drawdown

The "underwater" chart: EWG'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.

Overview

The iShares MSCI Germany ETF (EWG) is a Single Country - Developed fund issued by iShares that tracks 18 ETFs within its specific category. With an asset base of $1.58 billion and a share price of $40.59, the fund demonstrates significant investor adoption relative to its total assets under management. It holds an overall rank of #401 out of 458 tracked ETFs across all categories, receiving an ETFValuer grade of D with a score of 44.5 out of 100. The fund carries an expense ratio of 0.49% and offers a dividend yield of 1.65%. These metrics position the ETF as a moderately sized vehicle within the iShares lineup, though its lower overall ranking suggests it faces challenges compared to the broader universe of tracked funds. The combination of its AUM and price reflects a established presence in the market despite the current performance grade.

Recent performance data shows a pattern of negative returns across short-term horizons, with the fund down 1.74% over one day, 1.58% over one week, and 0.95% over one month. This downward trend continues into the three-month and six-month periods, recording losses of 2.16% and 3.31% respectively, while year-to-date returns stand at -2.72%. The one-year return is also negative at -2.39%, indicating a sustained period of underperformance in the near to medium term. However, the three-year return presents a stark contrast, showing a substantial gain of +46.58% over that longer timeframe. This divergence suggests that while recent market conditions have been unfavorable, the fund has delivered significant growth over the past three years.

The fund is assigned a Moderate volatility label and exhibits a beta of 0.98, indicating that its price movements generally align closely with the broader market. A Sharpe ratio of -0.42 implies that the risk-adjusted returns have been negative, suggesting the fund has not adequately compensated investors for the volatility taken. This risk profile is further highlighted by a maximum drawdown of -15.81%, which represents the largest peak-to-trough decline experienced by the fund. The combination of a beta near unity and a negative Sharpe ratio indicates that the fund tends to move in lockstep with market swings without generating excess returns during those movements. Consequently, the fund's behavior reflects a standard market correlation with periods of significant drawdown that have not been offset by sufficient risk-adjusted gains.

AI-generated summary based on the data on this page.

EWG Top Holdings

Holdings as of 2026-02-28 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 61.4% 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 EWG's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With EWG

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with EWG's top 10 — FEZ overlaps most, holding 4 of the same companies as EWG's top 10 (36.3% of EWG's assets).

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: 4.71% (as of 2026-07-23) — 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): 18.70 (as of 2026-07-23) — 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: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

EWG Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 7.84% and average daily volume is 1.2M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $1.58B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: EWG 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.

EWG Performance History

How EWG Compares to Other Single Country - Developed ETFs