EWG
iShares MSCI Germany ETF
The iShares MSCI Germany Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the German equity market, as measured by the MSCI Germany Index.
International
EQUITY
Passive
MANAGEMENT STYLE
1.7 B
ASSETS UNDER MGMT
50 bp
EXPENSES
Fund Basics
| Fund sponsor | Barclays Global Investors |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 12, 1996 |
| Assets (mns) | $1,746 |
| Expense ratio | 50 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| SAP AG | 13.3 % |
| SIEMENS AG-REG | 11.0 % |
| ALLIANZ SE-REG | 9.0 % |
| DEUTSCHE TELEKOM AG | 6.0 % |
| SIEMENS ENERGY AG | 5.6 % |
| RHEINMETALL AG | 4.5 % |
| MUENCHENER RUECKVER AG-REG | 4.5 % |
| DEUTSCHE BANK AG-REGISTERED | 3.6 % |
| INFINEON TECHNOLOGIES AG | 2.9 % |
| DAIMLER AG-REGISTERED SHARES | 2.7 % |
Constituent Breakdown
| Number of holdings | 54 |
| Herfindahl-Hirschman Index | 559 |
| Wgt avg mkt cap (mns) | $114,867 |
| Large cap (>$10bn) | 95.8% |
| Mid cap ($2-10bn) | 3.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 98.8% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
GERMANY | 99.5 % |
Historical Performance
Standardized Performance (as of 11/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 28.6% | 26.8% | 20.0% | 17.2% | 6.0% | 4.1% | 3.8% | 3.8% |
| Dividend Yield | 2.1% | 2.1% | 2.5% | 2.7% | 2.9% | 2.6% | 2.5% | 2.5% |
| Total Returns | 30.7% | 28.9% | 22.5% | 19.9% | 8.9% | 6.7% | 6.3% | 6.3% | Ann. Volatility | 20.4% | 19.8% | 17.4% | 17.2% | 20.1% | 21.1% | 25.3% | 25.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.71 | 49% |
| MSCI EAFE | 1.08 | 83% |
| MSCI Emg Mkts | 0.78 | 49% |
Liquidity Measures
| Avg. volume (000) | 1,928 |
| ADV traded (mns) | $81 |
| Turnover | 4.7% |
| Avg. Bid/Ask (% of price) | 0.02% |
Technical Indicators
| 30d moving avg. (EMA) | $41.08 |
| Relative strength (RSI) | 56 |
| MACD/Signal | 0.32/0.08 |
| Bollinger Bands (Upper/Lower) | $42.61/$38.76 |
| Short interest (% of AUM) | 8.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. EWG |
Expenses vs. EWG |
ALTAR Score™ vs. EWG |
|---|---|---|---|---|
| DAX | Global X DAX Germany ETF | 90.2% | -29 bp | +6.9% |
| FLGR | Franklin FTSE Germany ETF | 85.2% | -41 bp | +7.0% |
| FGM | First Trust Germany AlphaDEX Fund | 34.4% | +30 bp | +6.6% |
| FEZ | SPDR EURO STOXX 50 ETF | 29.3% | -21 bp | +6.3% |
| DBEZ | Xtrackers MSCI Eurozone Hedged Equity ETF | 28.4% | -5 bp | +6.7% |
| EZU | iShares MSCI Eurozone ETF | 26.7% | +2 bp | +6.4% |
| HEDJ | WisdomTree Europe Hedged Equity Fund | 24.8% | +8 bp | +6.4% |
| GSEU | Goldman Sachs ActiveBeta Europe Equity ETF | 16.4% | -25 bp | +7.0% |
| DBEU | Xtrackers MSCI Europe Hedged Equity ETF | 15.6% | -4 bp | +6.5% |
| FEUZ | First Trust Eurozone AlphaDEX ETF | 15.6% | +30 bp | +7.4% |
Risk and Returns: EWG vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/14/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
EWG
6.4%
Cat. Avg
6.8%
ALTAR Score™ Calculation
Category Overview
There are 271 funds in the International Equity category, with an average ALTAR Score™
of 6.8% and a standard deviation of
1.8%. EWG's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places EWG in the 42nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
EWGSELL
U/W
HOLD
O/W
BUY