EWL — iShares MSCI Switzerland ETF
Single Country - Developed Ranked #231 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 (EWL) is a single-country developed market fund issued by iShares with $2.67 billion in assets under management. It holds an ETFValuer grade of C, ranking 11th out of 18 peers in its category and 231st 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 1.73% that trails the peer median of 3.49%. Concentration is notable, with the top 10 holdings representing 65.4% of assets and Roche Holding AG comprising the largest single position at 13.6%.
Price action shows the fund trading at $63.05, situated at 76.9% of its 52-week range. Short-term momentum has been positive, with gains of 1.29% over one week and 4.32% over one month, contrasting with a slight 0.99% decline in the last day. Over longer horizons, the fund has delivered a 12.29% return over the past year, though this lags the category median of 15.82%. The three-year return stands at 58.37%, and the rating grade has remained unchanged at C across the last 35 tracked days. Historical price data is available for 3.0 years.
The fund exhibits a beta of 0.91, indicating it moves slightly less than the broader market. Annualized volatility is recorded at 16.11%, which is labeled as moderate, while the maximum drawdown has reached -13.48%. A Sharpe ratio of 0.45 suggests modest risk-adjusted returns relative to the risk taken. Liquidity is supported by an average daily volume of 521,537 shares. These metrics collectively describe a fund with moderate price fluctuations and average trading activity.
AI-generated summary based on the data on this page.
EWL Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | Roche Holding AG | 13.64% | $330M |
| 2 | Novartis AG | 12.34% | $299M |
| 3 | Nestle S.A. | 11.05% | $267M |
| 4 | ABB Ltd | 5.75% | $139M |
| 5 | COMPAGNIE FINANCIERE RICHEMONT SA | 5.21% | $126M |
| 6 | UBS Group AG | 5.13% | $124M |
| 7 | Zurich Insurance Group AG | 4.33% | $105M |
| 8 | Swiss Re AG | 2.78% | $67M |
| 9 | Lonza Group AG | 2.75% | $66M |
| 10 | Holcim AG | 2.44% | $59M |
Holdings as of 2026-08-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 65.4% 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 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 — IDEV overlaps most, holding 3 of the same companies as EWL's top 10 (37.0% of EWL's assets).
| ETF | Name | Shared Companies | EWL Weight | Examples |
|---|---|---|---|---|
| IDEV | iShares Core MSCI International Developed Markets ETF | 3 | 37.0% | Roche Holding AG, Novartis AG, Nestle S.A. |
| EFA | iShares MSCI EAFE ETF | 3 | 37.0% | Roche Holding AG, Novartis AG, Nestle S.A. |
| EFV | iShares MSCI EAFE Value ETF | 3 | 37.0% | Roche Holding AG, Novartis AG, Nestle S.A. |
| IEFA | iShares Core MSCI EAFE ETF | 3 | 37.0% | Roche Holding AG, Novartis AG, Nestle S.A. |
| ESGD | iShares ESG Aware MSCI EAFE ETF | 3 | 37.0% | 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: 4.96% (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 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 1.73%. 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: Average daily volume is 522K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $2.67B 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 | -0.99% |
| 1-Week | +1.29% |
| 1-Month | +4.32% |
| 3-Month | +0.98% |
| 6-Month | +4.23% |
| YTD | +6.34% |
| 1-Year | +12.29% |
| 3-Year | +58.37% |
How EWL 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 |