EWP — iShares MSCI Spain ETF

EWP Price Performance — Growth of $10,000

Value of a $10,000 investment in EWP 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.

EWP Drawdown

The "underwater" chart: EWP'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 Spain ETF (EWP) operates within the Single Country - Developed category, which currently contains 18 funds tracked by ETFValuer. Issued by iShares, this fund manages $1.89 billion in assets and trades at a price of $59.40 per share. It holds an overall rank of #22 out of 458 tracked ETFs across all categories, earning an ETFValuer grade of B+ with a score of 78.9 out of 100. The fund charges an expense ratio of 0.5% and offers a dividend yield of 1.15%. The combination of a substantial asset base and a mid-tier ranking suggests a moderate level of investor adoption relative to the broader universe of available funds. Its position as the 22nd ranked fund indicates it is performing well above the median of the total tracked population despite the higher cost structure compared to some broad market alternatives.

Recent price action shows a decline over the shortest horizons, with the fund down 1.77% over one day and 1.21% over one week. However, the trend reverses into positive territory over the one-month period, which saw a gain of 0.29%. This positive momentum accelerated significantly over the subsequent quarters, resulting in a 3-month return of 7.59% and a 6-month return of 5.88%. Year-to-date performance has been robust at +10.33%, while the one-year return stands at an impressive 36.70%. The long-term trajectory is even more pronounced, with the 3-year return reaching 132.38%. This pattern illustrates a clear divergence where short-term volatility gave way to sustained, accelerating growth over the medium and long term.

The fund carries a Moderate volatility label and exhibits a beta of 0.86, indicating that its price movements have historically been less sensitive to broad market fluctuations. A Sharpe ratio of 1.68 suggests that the returns generated have been efficient relative to the amount of risk taken during the measurement period. Despite the strong returns, the fund experienced a maximum drawdown of -12.19%, which represents the largest peak-to-trough decline recorded. This combination of a beta below 1.0 and a high Sharpe ratio implies the fund has provided substantial upside potential while maintaining a defensive posture during market turbulence. The moderate volatility classification aligns with the observed drawdown, suggesting that while losses occurred, they were contained within a manageable range relative to the fund's significant appreciation.

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

EWP Top Holdings

Holdings as of 2026-05-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 73.7% 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 EWP's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With EWP

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with EWP's top 10 — EZU overlaps most, holding 2 of the same companies as EWP's top 10 (31.6% of EWP'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: 4.61% (as of 2026-07-28) — 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): 18.21 (as of 2026-07-28) — 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.

EWP Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 3.72% and average daily volume is 367K/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 $1.89B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: EWP 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.

EWP Performance History

How EWP Compares to Other Single Country - Developed ETFs