EWI — iShares MSCI Italy ETF

EWI Price Performance — Growth of $10,000

Value of a $10,000 investment in EWI 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.

EWI Drawdown

The "underwater" chart: EWI'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 Italy ETF (EWI) is a single-country developed market fund issued by iShares with $1.17 billion in assets under management. It holds a C grade, ranking 12th out of 18 peers in its category and 240th of 458 tracked ETFs overall. The fund charges an expense ratio of 0.5%, which aligns with the category median, while offering a dividend yield of 3.41% that sits slightly below the peer average of 3.49%. Concentration is notable, with the top ten holdings representing 70.8% of assets and UNICREDIT comprising 16.6% of the portfolio.

Price action shows the fund trading at $54.98, which is 33.9% of the way through its 52-week range. Short-term returns have been negative, with one-month and three-month figures of -8.27% and -9.53% respectively, contrasting with a positive year-to-date gain of 1.64%. The one-year return of 12.12% trails the category median of 15.82%, contributing to a recent downgrade from a B to a C grade on October 1, 2026. Long-term momentum remains strong, evidenced by a 105.77% return over three years, though price history is limited to just three years.

The fund exhibits moderate volatility at 18.80% annualized, with a beta of 0.88 indicating less sensitivity to market movements than the broader index. A Sharpe ratio of 0.38 suggests modest risk-adjusted returns, while the maximum drawdown of -16.80% highlights the extent of recent losses. Liquidity is supported by an average daily volume of 420,232 shares, providing adequate trading activity for investors. These metrics collectively describe a fund that has experienced significant recent declines but maintains a relatively stable risk profile compared to higher-beta alternatives.

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

EWI Top Holdings

Holdings as of 2026-08-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 70.8% 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 EWI's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With EWI

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with EWI's top 10 — IDV overlaps most, holding 2 of the same companies as EWI's top 10 (15.5% of EWI'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: 4.96% (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.

EWI Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 420K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $1.17B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: EWI 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.

EWI Performance History

How EWI Compares to Other Single Country - Developed ETFs