EWL — iShares MSCI Switzerland ETF
Single Country - Developed Ranked #329 of 458 tracked ETFs · Issued by iShares
EWL Price Performance — Growth of $10,000
Value of a $10,000 investment in EWL 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.
EWL Drawdown
The "underwater" chart: EWL'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 EWL?
See what a lump sum in EWL 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 Switzerland ETF is a single-country developed market fund issued by iShares, managing $2.42 billion in assets. It holds an ETFValuer grade of C, reflecting a score of 54.0 out of 100, and ranks 14th among 18 peers in its category. The fund’s 0.5% expense ratio aligns with the category median, while its 1.01% dividend yield trails the 1.52% median. Concentration is notable, with the top 10 holdings representing 67.0% of assets and Roche Holding AG comprising the largest 14.0% position.
Price action shows the fund trading at $61.60, which sits at 66.8% of its 52-week range. Short-term performance has been negative, with declines of 2.42% over one day and 4.50% over one month. Conversely, longer horizons show growth, including a 11.45% return over the past year and 44.80% over three years. This annual return significantly underperforms the category median of 26.27%. The C grade has remained unchanged across the last 35 tracked days, based on 3.0 years of price history.
The fund exhibits moderate volatility at 15.88% annualized, with a beta of 0.91 indicating slightly lower sensitivity to market movements. A Sharpe ratio of 0.41 suggests modest risk-adjusted returns, while the maximum drawdown of -13.48% highlights recent downside exposure. Liquidity is supported by an average daily volume of 467,772 shares, though the bid-ask spread of 1.47% indicates moderate trading costs. These metrics collectively describe a fund that has experienced moderate price fluctuations and limited upside efficiency relative to its risk.
AI-generated summary based on the data on this page.
EWL Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | Roche Holding AG | 14.03% | $239M |
| 2 | Novartis AG | 13.56% | $231M |
| 3 | Nestle S.A. | 12.34% | $210M |
| 4 | ABB Ltd | 5.41% | $92M |
| 5 | UBS Group AG | 5.13% | $87M |
| 6 | COMPAGNIE FINANCIERE RICHEMONT SA | 4.78% | $81M |
| 7 | Zurich Insurance Group AG | 4.44% | $76M |
| 8 | Holcim AG | 2.64% | $45M |
| 9 | Lonza Group AG | 2.35% | $40M |
| 10 | Swiss Re AG | 2.32% | $40M |
Holdings as of 2026-05-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 67.0% 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 EWL's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With EWL
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with EWL's top 10 — ESGD overlaps most, holding 4 of the same companies as EWL's top 10 (45.3% of EWL's assets).
| ETF | Name | Shared Companies | EWL Weight | Examples |
|---|---|---|---|---|
| ESGD | iShares ESG Aware MSCI EAFE ETF | 4 | 45.3% | Roche Holding AG, Novartis AG, Nestle S.A.… |
| IDEV | iShares Core MSCI International Developed Markets ETF | 3 | 39.9% | Roche Holding AG, Novartis AG, Nestle S.A. |
| EFA | iShares MSCI EAFE ETF | 3 | 39.9% | Roche Holding AG, Novartis AG, Nestle S.A. |
| IEFA | iShares Core MSCI EAFE ETF | 3 | 39.9% | Roche Holding AG, Novartis AG, Nestle S.A. |
| IEUR | iShares Core MSCI Europe ETF | 3 | 39.9% | Roche Holding AG, Novartis AG, Nestle S.A. |
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: 4.78% (as of 2026-09-04) — 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): 15.30 (as of 2026-09-07) — 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 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What EWL's Fees Cost You
EWL 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.
EWL Dividend Income Estimator
EWL currently yields 1.01%. 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.
EWL Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 1.47% and average daily volume is 468K/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 $2.42B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: EWL 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.
EWL Performance History
| Period | Return |
|---|---|
| 1-Day | -2.42% |
| 1-Week | -1.91% |
| 1-Month | -4.50% |
| 3-Month | +2.89% |
| 6-Month | +2.75% |
| YTD | +3.89% |
| 1-Year | +11.45% |
| 3-Year | +44.80% |
How EWL Compares to Other Single Country - Developed ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #31 | B+ |
EWP | iShares MSCI Spain ETF | +34.65% | 0.5% | $2.26B |
| #35 | B+ |
EWC | iShares MSCI Canada ETF | +26.76% | 0.5% | $6.85B |
| #64 | B+ |
DXJ | WisdomTree Japan Hedged Equity Fund | +39.47% | 0.48% | $7.35B |
| #70 | B |
FLJP | Franklin FTSE Japan ETF | +27.66% | 0.09% | $4.12B |
| #74 | B |
BBJP | JPMorgan BetaBuilders Japan ETF | +27.21% | 0.19% | $19.2B |
| #86 | B |
EWJ | iShares MSCI Japan ETF | +29.04% | 0.49% | $22.7B |
| #99 | B |
EWS | iShares MSCI Singapore ETF | +25.30% | 0.5% | $1.25B |
| #119 | B |
HEWJ | iShares Currency Hedged MSCI Japan ETF | +38.81% | 0.49% | $774M |
| #143 | B |
EWI | iShares MSCI Italy ETF | +25.77% | 0.5% | $1.13B |
| #149 | B |
EIS | iShares MSCI Israel ETF | +33.97% | 0.59% | $897M |
| #152 | B |
EWN | iShares MSCI Netherlands ETF | +35.85% | 0.5% | $627M |
| #161 | B |
EWU | iShares MSCI United Kingdom ETF | +20.31% | 0.5% | $3.79B |
| #315 | C |
EWD | iShares MSCI Sweden ETF | +16.86% | 0.51% | $756M |
| #329 | C |
EWL | iShares MSCI Switzerland ETF | +11.45% | 0.5% | $2.42B |
| #354 | C |
EWG | iShares MSCI Germany ETF | +7.51% | 0.49% | $1.82B |
| #389 | D |
EWA | iShares MSCI Australia ETF | +14.90% | 0.5% | $1.33B |
| #396 | D |
EWQ | iShares MSCI France ETF | +10.31% | 0.5% | $338M |
| #398 | D |
EWH | iShares MSCI Hong Kong ETF | +13.54% | 0.5% | $1.21B |