- ISIN
- US4642863017
- CUSIP
- 464286301
- Issuer
- iShares
- Inception Date
- Mar 12, 1996
- Region
- North America (U.S.)
- Category
- Europe Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- MSCI Belgium Investable Market Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
- Assets Under Management
- $155M
Share Price Chart
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Performance
EWK Performance Chart
iShares MSCI Belgium ETF (EWK) is up 13.9% since the beginning of the year. EWK is currently trading at $28 per share. Investors who bought $1,000 worth of EWK shares 5 years ago would now be looking at an investment worth $1,360.
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Returns By Period
iShares MSCI Belgium ETF (EWK) has returned 13.90% so far this year and 26.95% over the past 12 months. Over the last ten years, EWK has returned 7.35% per year, falling short of the S&P 500 Index benchmark, which averaged 13.61% annually.
iShares MSCI Belgium ETF
- 1D
- 0.22%
- 1M
- 5.69%
- YTD
- 13.90%
- 6M
- 14.48%
- 1Y
- 26.95%
- 3Y*
- 17.68%
- 5Y*
- 6.35%
- 10Y*
- 7.35%
Benchmark (S&P 500 Index)
- 1D
- 0.50%
- 1M
- 0.31%
- YTD
- 8.56%
- 6M
- 8.85%
- 1Y
- 24.33%
- 3Y*
- 19.37%
- 5Y*
- 11.84%
- 10Y*
- 13.61%
EWK Monthly Returns History
Based on dividend-adjusted daily data since Apr 1, 1996, EWK's average daily return is +0.03%, while the average monthly return is +0.67%. At this rate, an investment would double in approximately 8.7 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2020 with a return of +21.6%, while the worst month was Oct 2008 at -33.7%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 7 months.
On a daily basis, EWK closed higher 49% of trading days. The best single day was Mar 16, 2000 with a return of +10.8%, while the worst single day was Sep 29, 2008 at -13.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.32% | 1.84% | -8.47% | 5.36% | 5.25% | 2.67% | 13.90% | ||||||
| 2025 | 1.67% | 3.87% | 2.10% | 7.07% | 3.77% | 1.87% | -1.06% | 5.91% | 0.50% | 0.62% | 3.91% | 0.74% | 35.38% |
| 2024 | -3.77% | -0.03% | 3.37% | -0.98% | 4.81% | -3.44% | 6.03% | 3.28% | 3.48% | -4.99% | -3.48% | -3.31% | 0.14% |
| 2023 | 5.13% | -1.00% | 1.47% | 1.35% | -8.92% | 3.33% | 6.72% | -3.64% | -4.99% | -3.52% | 8.75% | 4.07% | 7.47% |
| 2022 | -3.71% | -3.00% | 1.37% | -6.03% | -0.76% | -7.36% | 1.09% | -7.49% | -9.40% | 8.55% | 11.58% | 2.46% | -13.98% |
| 2021 | -1.28% | -0.16% | 5.27% | 6.09% | 5.09% | -1.80% | -0.38% | 1.38% | -5.25% | 4.17% | -5.23% | 5.14% | 12.84% |
Benchmark Metrics
iShares MSCI Belgium ETF has an annualized alpha of 0.96%, beta of 0.79, and R2 of 0.41 versus S&P 500 Index. Calculated based on daily prices since April 01, 1996.
- This ETF participated in 98.13% of S&P 500 Index downside but only 88.17% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.41 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 0.96%
- Beta
- 0.79
- R²
- 0.41
- Upside Capture
- 88.17%
- Downside Capture
- 98.13%
Expense Ratio
EWK has an expense ratio of 0.49%, placing it in the medium range.
Return for Risk
Risk / Return Rank
EWK ranks 48 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares MSCI Belgium ETF (EWK) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EWK | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.34 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 2.53 | -0.87 |
| Martin ratioReturn relative to average drawdown | 5.95 | 11.37 | -5.42 |
Dividends
Dividend History
iShares MSCI Belgium ETF provided a 1.52% dividend yield over the last twelve months, with an annual payout of $0.42 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.42 | $0.42 | $0.59 | $0.39 | $0.46 | $0.78 | $0.32 | $0.55 | $0.45 | $0.61 | $0.31 | $0.37 |
Dividend yield | 1.52% | 1.73% | 3.25% | 2.09% | 2.58% | 3.64% | 1.66% | 2.77% | 2.78% | 2.91% | 1.75% | 2.06% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares MSCI Belgium ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.16 | $0.42 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.37 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.23 | $0.59 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.33 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.06 | $0.39 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.46 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.46 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.52 | $0.78 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares MSCI Belgium ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares MSCI Belgium ETF was 74.10%, occurring on Mar 9, 2009. Recovery took 2074 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -74.10%Mar 2009 | 1y 8mo | 8y 2mo | 9y 10moJul 2007 - Jun 2017 |
2003 bear market2003 | -60.23%Mar 2003 | 4y 2mo | 1y 7mo | 5y 9moJan 1999 - Oct 2004 |
COVID crash2020 | -42.80%Mar 2020 | 2y 1mo | 1y 1mo | 3y 2moJan 2018 - Apr 2021 |
Bear market2022 | -35.22%Oct 2022 | 1y 3mo | 2y 6mo | 3y 10moJun 2021 - Apr 2025 |
1998 bear market1998 | -20.83%Oct 1998 | 2mo 16d | 2mo 25d | 5mo 11dJul 1998 - Dec 1998 |
Drawdown Indicators
| EWK | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.10% | -56.78% | -17.32% |
Max Drawdown (1Y)Largest decline over 1 year | -15.47% | -9.10% | -6.37% |
Max Drawdown (3Y)Largest decline over 3 years | -15.64% | -18.90% | +3.26% |
Max Drawdown (5Y)Largest decline over 5 years | -34.43% | -25.43% | -9.00% |
Max Drawdown (10Y)Largest decline over 10 years | -42.80% | -33.92% | -8.88% |
Current DrawdownCurrent decline from peak | 0.00% | -2.34% | +2.34% |
Average DrawdownAverage peak-to-trough decline | -21.52% | -10.72% | -10.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.32% | 2.02% | +2.30% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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