EWL — iShares MSCI Switzerland ETF
Data updated: 2026-07-27
EWL — iShares MSCI Switzerland ETF. 0.50% expense ratio · since 1996 · Europe Blend / Core Equity · $1.70B AUM. Holdings, fees, performance and SEC filings.
EWL Fund Overview
EWL — iShares MSCI Switzerland ETF is a US ETF managed by iShares, Inc., categorised as Europe Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: iShares, Inc.
- Category: Europe Blend / Core Equity
- Assets under management: $1.70B
- 1-year return: 16.6%
- Ticker: EWL
- SEC CIK: 0000930667
- SEC series ID: S000004260
- Share class ID: C000011964
EWL Investment Objective and Strategy
iShares MSCI Switzerland ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by iShares, Inc..
Investment objective
The iShares MSCI Switzerland ETF (the “Fund”) seeks to track the investment results of an index composed of Swiss equities.
Principal investment strategy
The Fund seeks to track the investment results of the MSCI Switzerland 25/50 Index (the Underlying Index), which consists of stocks traded primarily on the Zurich Stock Exchange. The Underlying Index is a free float-adjusted market capitalization-weighted index with a capping methodology applied to issuer weights so that no single issuer of a component exceeds 25% of the Underlying Index weight, and all issuers with a weight above 5% do not cumulatively exceed 50% of the Underlying Index weight. The Underlying Index may include large-, mid- or small-capitalization companies. As of August 31, 2017, a significant portion of the Underlying Index is represented by securities of consumer staples, financials and healthcare companies. The components of the Underlying Index, and the degree to which these components represent certain industries, are likely to change over time.
BFA uses a passive or indexing approach to try to achieve the Funds investment objective. Unlike many investment companies, the Fund does not try to beat the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. Indexing may eliminate the chance that the Fund will substantially outperform the Underlying Index but also may reduce some of the risks of active management, such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by keeping portfolio turnover low in comparison to actively managed investment companies. BFA uses a representative sampling indexing strategy to manage the Fund. Representative sampling is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable underlying index.
The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of an applicable underlying index. The Fund may or may not hold all of the securities in the Underlying Index. The Fund will at all times invest at least 80% of its assets in the securities of its Underlying Index and in depositary receipts representing securities in its Underlying Index. The Fund may invest the remainder of its assets in other securities, including securities not in the Underlying Index, but which BFA believes will help the Fund track the Underlying Index, and in other investments, including futures contracts, options on futures contracts, other types of options and swaps related to its Underlying Index, as well as cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates.
The Fund seeks to track the investment results of the Underlying Index before fees and expenses of the Fund. The Fund may lend securities representing up to one-third of the value of the Fund's total assets (including the value of any collateral received). The Underlying Index is sponsored by MSCI Inc. (the Index Provider or MSCI), which is independent of the Fund and BFA. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index. Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated.
For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
EWL Holdings
Top 10 holdings of iShares MSCI Switzerland ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Roche Holding AG | 14.03% |
| Novartis AG | 13.56% |
| Nestle S.A. | 12.34% |
| ABB Ltd | 5.41% |
| UBS Group AG | 5.13% |
| Compagnie Financiere Richemont SA | 4.78% |
| Zurich Insurance Group AG | 4.44% |
| Holcim AG | 2.64% |
| Lonza Group AG | 2.35% |
| Swiss Re AG | 2.32% |
EWL Portfolio Allocation
Asset-class allocation of iShares MSCI Switzerland ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.1% |
| Other | 0.3% |
| Derivatives | 0.1% |
EWL Performance
Total returns for EWL (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 5.40% |
| 1 year | 16.57% |
| 3 years (annualised) | 13.23% |
| 5 years (annualised) | 7.43% |
EWL Risk Information
Risk metrics for EWL, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 15.31%
EWL Costs and Fees
EWL costs about $50 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.50%
- Gross expense ratio: 0.50%
- Portfolio turnover: 9%
- Brokerage commissions: 0.25 bps of average net assets (SEC N-CEN)
EWL Cashflows
Over the 12 months to 2026-05, iShares MSCI Switzerland ETF had net inflows of $208.02M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | $84.38M |
| 2026-04 | $22.62M |
| 2026-03 | −$95.78M |
| 2026-02 | $0 |
| 2026-01 | $60.22M |
| 2025-12 | $21.76M |
EWL Debt Constituents
No individual debt constituents are reported in iShares MSCI Switzerland ETF's latest SEC N-PORT filing.
EWL Prospectus and SEC Filings
Official iShares MSCI Switzerland ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-12-20
- Prospectus (485BPOS) — filed 2023-12-21
- Prospectus supplement (497) — filed 2025-12-30
- Portfolio holdings (N-PORT) — filed 2026-07-27
- Portfolio holdings (N-PORT) — filed 2026-04-23
- Portfolio holdings (N-PORT) — filed 2026-01-28
- Annual census (N-CEN) — filed 2025-11-14
- Annual census (N-CEN) — filed 2024-11-12
Related Funds
Other Europe Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.