ETF Evaluator:
iShares MSCI Switzerland ETF (EWL)
Follow This ETF
(as of Jul 31)
Best Performing in Focused Region Over the Last Year
| 216.0% | VanEck Russia Small-Cap ETF (RSXJ) |
| 188.5% | iShares MSCI South Korea ETF (EWY) |
| 175.8% | Franklin FTSE South Korea ETF (FLKR) |
| 137.0% | Matthews Korea Active ETF (MKOR) |
| 74.6% | iShares MSCI Peru ETF (EPU) |
Risk
Index
Risk
Index
ETF Details
iShares MSCI Switzerland ETF Overview
iShares MSCI Switzerland ETF (EWL) is a passively managed International Equity Focused Region exchange-traded fund (ETF). iShares launched the ETF in 1996.
The investment seeks to track the investment results of the MSCI Switzerland 25/50 Index.
The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The index is a free float-adjusted market capitalization-weighted index that is designed to measure the performance of the large- and mid- capitalization segments of the equity market in Switzerland. The fund is non-diversified.
About iShares MSCI Switzerland ETF (EWL)
There are 4 members of the management team with an average tenure of 4.31 years: Jennifer Hsui (2012), Peter Sietsema (2025), Matt Waldron (2025) and Steven White (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI ACWI Ex USA NR USD index with a weighting of 100% and MSCI Switzerland 25-50 NR USD index with a weighting of 100%. iShares MSCI Switzerland ETF has 46 securities in its portfolio. The top 10 holdings constitute 65.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
iShares MSCI Switzerland ETF is part of the Equity global asset class and is within the International Equity ETF group. iShares MSCI Switzerland ETF has 98.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 98.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). iShares MSCI Switzerland ETF has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $1 billion average for the Focused Region category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
EWL Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The iShares MSCI Switzerland ETF expense ratio is average compared to funds in the Focused Region category. iShares MSCI Switzerland ETF has an expense ratio of 0.50%, which is 3% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. iShares MSCI Switzerland ETF has a portfolio turnover rate of 9%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 26% for the Focused Region category.
Recently, in the month of June 2026, iShares MSCI Switzerland ETF returned 1.2%, which earned it a grade of A, as the Focused Region category had an average return of -2.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
iShares MSCI Switzerland ETF has a trailing yield of 1.74%, which is below the 5.65% category average.
The fund normally distributes its income semi-annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
iShares MSCI Switzerland ETF Grades
Year to date, the ETF has returned 6.7%, 2.4 percentage points worse than the category, which translates into a grade of C. The fund has returned 16.5% over the past year (grade of D), 12.9% over the past three years (grade of D) and 7.4% per year over the past five years (grade of C) and 10.0% per year over the past 10 years (grade of B).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about iShares MSCI Switzerland ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
EWL Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| EWL Return (NAV) | 1.2% | 8.6% | 16.5% | 12.9% | 7.4% | 10.0% |
| EWL Return (Price) | 1.3% | 8.8% | 16.7% | 12.9% | 7.4% | 10.0% |
| NAV +/- Price Return | -0.088% | -0.148% | -0.166% | -0.018% | 0.007% | 0.045% |
| Focused Region Avg | -2.1% | 5.8% | 27.1% | 86.8% | 8.6% | 8.7% |
| EWL Grade (NAV) | A | B | D | D | C | B |
| +/- Category (NAV) | 3.3% | 2.8% | -10.6% | -73.9% | -1.2% | 1.4% |
| EWL Tax-Cost Ratio | na | na | 0.7% | 0.7% | 0.6% | 0.6% |
EWL Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EWL Return (NAV) | 6.7% | 32.5% | -2.6% | 17.4% | -18.6% | 19.3% | 12.7% | 32.3% | -9.8% | 23.4% | -3.0% |
| EWL Return (Price) | 6.7% | 32.9% | -2.8% | 17.7% | -18.9% | 20.2% | 11.8% | 31.6% | -9.2% | 23.4% | -2.5% |
| NAV +/- Price Ret | -0.003% | 0.012% | 0.058% | 0.020% | 0.016% | 0.048% | -0.069% | -2.1% | -6.0% | -0.0% | -17.8% |
| Focused Region Avg | 9.1% | 40.1% | 7.5% | 33.4% | -15.0% | 8.3% | 3.6% | 20.0% | -13.7% | 26.4% | 13.0% |
| EWL Grade (NAV) | C | D | D | C | D | B | B | A | B | C | D |
| +/- Category | -2.4% | -7.6% | -10.1% | -16.1% | -3.6% | 11.0% | 9.1% | 12.3% | 4.0% | -3.0% | -16.1% |
| Risk Measures | |
| Beta: | 0.90 |
| R-Squared: | 67% |
| Standard Deviation: | 15.4% |
| Category Risk Index: | 0.19 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.26 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 1.7% |
| Total Assets: | $ 1,970 Mil |
| Share Class Assets: | $ 1,970 Mil |
| Turnover: | 9.0% |
| Expense Ratio: | 0.50% |
| Index Fund: | Yes |
| Index Tracked: | MSCI ACWI Ex USA NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Semi-Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 13.5 years | |||
| Average Tenure: 4.3 years | |||
| Managers (Year): Hsui Jennifer (2012), Sietsema Peter (2025), Waldron Matt (2025), White Steven (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 46 |
| % in Top 10 Holdings: | 65.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 98.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 98.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | iShares |
| Phone Number: | 800-474-2737 |
| Website: | ca.ishares.com/home.htm |
| Inception Date: | March 12, 1996 |
Expenses and Fees
| Expense Ratio (%): | 0.50% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.52% |
