Data Source: from January 1997 to March 2023 (~26 years)
Consolidated Returns as of 31 March 2023
Category: Stocks
ETF: iShares MSCI Canada ETF (EWC)

In the last 25 Years, the iShares MSCI Canada ETF (EWC) ETF obtained a 6.51% compound annual return, with a 20.81% standard deviation.

In 2022, the ETF granted a 2.01% dividend yield. If you are interested in getting periodic income, please refer to the iShares MSCI Canada ETF (EWC) ETF: Dividend Yield page.

The ETF is related to the following investment themes:

  • Asset Class: Equity
  • Size: Large Cap
  • Style: Blend
  • Region: North America
  • Country: Canada

Historical Returns as of Mar 31, 2023

Historical returns and Metrics of iShares MSCI Canada ETF (EWC) ETF.

Returns and metrics are calculated based on monthly returns, assuming:
  • No fees or capital gain taxes
  • the reinvestment of dividends
ISHARES MSCI CANADA ETF (EWC) ETF
Portfolio Metrics
Data Source: 1 January 1997 - 31 March 2023 (~26 years)
Swipe left to see all data
Metrics as of Mar 31, 2023
1M 3M 6M 1Y 3Y 5Y 10Y 20Y MAX
(~26Y)
Portfolio
Return (%)
0.38 4.43 12.74 -13.12 18.56 6.72 4.06 8.46 7.15
US Inflation (%) 0.00 1.36 1.36 4.64 5.24 3.81 2.60 2.48 2.47
Infl. Adjusted
Return (%)
0.38 3.03 11.22 -16.97 12.66 2.81 1.42 5.83 4.57
Waiting for updates, inflation of Mar 2023 is temporarily set to 0%. Returns / Inflation rates over 1 year are annualized.
RISK INDICATORS
Standard Deviation (%) 22.92 19.69 20.57 17.34 20.06 20.70
Sharpe Ratio -0.68 0.90 0.27 0.19 0.36 0.15
Sortino Ratio -0.99 1.24 0.35 0.26 0.49 0.20
MAXIMUM DRAWDOWN
Drawdown Depth (%) -22.93 -22.93 -26.90 -34.11 -56.67 -56.67
Start (yyyy mm) 2022 04 2022 04 2020 01 2014 09 2007 11 2007 11
Bottom (yyyy mm) 2022 09 2022 09 2020 03 2016 01 2009 02 2009 02
Start to Bottom (# months) 6 6 3 17 16 16
Start to Recovery (# months) in progress
> 12
> 12
11
63
80
80
ROLLING PERIOD RETURNS - Annualized
Best Return (%) 74.06 37.31 33.03 16.39 9.12
Worst Return (%) -51.74 -12.18 -6.44 -0.32 3.96
% Positive Periods 66% 76% 87% 99% 100%
MONTHS
Positive 1 2 4 6 23 34 65 141 185
Negative 0 1 2 6 13 26 55 99 130
% Positive 100% 67% 67% 50% 64% 57% 54% 59% 59%
WITHDRAWAL RATES (WR)
Safe WR (%) 50.23 22.19 10.38 12.38 7.89
Perpetual WR (%) 11.24 2.73 1.40 5.51 4.37
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the ETF
  • Standard Deviation: it's a measure of the dispersion of returns around the mean
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the ETF. It's calculated by dividing the excess return of the ETF over the risk-free rate by the ETF standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the ETF. It's a modification of the Sharpe Ratio (same formula but the denominator is the ETF downside standard deviation).
  • Maximum Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.
  • Rolling Returns: returns over a time frame (best, worst, % of positive returns).
  • Pos./Neg. Months: number of months with positive/negative return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the original portfolio balance that can be withdrawn at the end of each year with inflation adjustment, without the portfolio running out of money (dollar amount withdrawal).
  • Perpetual Withdrawal Rate (PWR): it's the percentage of portfolio balance that can be withdrawn at the end of each year, while retaining the inflation adjusted portfolio balance (percentage withdrawal).

Correlations as of Mar 31, 2023

Monthly correlations of iShares MSCI Canada ETF (EWC) ETF vs the main Asset Classes, over different timeframes.

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1.

If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.

Asset correlations are calculated based on monthly returns.

Columns are sortable (click on table header to sort).

ISHARES MSCI CANADA ETF (EWC) ETF
Monthly correlations as of 31 March 2023
Swipe left to see all data
Correlation vs EWC
 
Asset Class 1 Year 5 Years 10 Years Since
Jan 1997
US Total Stock Market
VTI
0.95
0.92
0.85
0.84
US Large Cap
SPY
0.95
0.91
0.84
0.82
US Small Cap
IJR
0.92
0.90
0.80
0.78
US REITs
VNQ
0.89
0.85
0.62
0.57
US Technology
QQQ
0.86
0.78
0.69
0.69
Preferred Stocks
PFF
0.80
0.79
0.66
0.47
EAFE Stocks
EFA
0.95
0.91
0.83
0.83
World All Countries
VT
0.97
0.94
0.88
0.87
Emerging Markets
EEM
0.76
0.76
0.74
0.82
Europe
VGK
0.95
0.91
0.83
0.80
Pacific
VPL
0.91
0.85
0.75
0.73
Latin America
FLLA
0.86
0.71
0.71
0.78
US Total Bond Market
BND
0.79
0.39
0.29
0.12
Long Term Treasuries
TLT
0.66
0.00
-0.07
-0.18
US Cash
BIL
0.13
-0.23
-0.12
-0.01
TIPS
TIP
0.81
0.51
0.42
0.23
Invest. Grade Bonds
LQD
0.85
0.60
0.50
0.30
High Yield Bonds
HYG
0.92
0.83
0.77
0.66
International Bonds
BNDX
0.83
0.42
0.28
0.17
Emerg. Market Bonds
EMB
0.85
0.73
0.65
0.60
Gold
GLD
0.45
0.23
0.22
0.28
Commodities
DBC
0.55
0.67
0.66
0.56

Capital Growth as of Mar 31, 2023

Capital growth, returns, stats are calculated assuming a reinvestment of dividends.

If you are interested in getting periodic income, please refer to the iShares MSCI Canada ETF (EWC) ETF: Dividend Yield page.

An investment of 1000$, since April 1998, now would be worth 4842.24$, with a total return of 384.22% (6.51% annualized).

The Inflation Adjusted Capital now would be 2610.73$, with a net total return of 161.07% (3.91% annualized).
An investment of 1000$, since January 1997, now would be worth 6134.89$, with a total return of 513.49% (7.15% annualized).

The Inflation Adjusted Capital now would be 3234.26$, with a net total return of 223.43% (4.57% annualized).

Drawdowns

Worst drawdowns since April 1998.

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Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-56.67% Nov 2007 Feb 2009 16 Jun 2014 64 80
-47.84% Sep 2000 Sep 2002 25 Oct 2004 25 50
-34.11% Sep 2014 Jan 2016 17 Nov 2019 46 63
-30.77% May 1998 Aug 1998 4 Oct 1999 14 18
-26.90% Jan 2020 Mar 2020 3 Nov 2020 8 11
-22.93% Apr 2022 Sep 2022 6 in progress 6 12
-7.28% Oct 2005 Oct 2005 1 Dec 2005 2 3
-6.11% Apr 2005 Apr 2005 1 Jun 2005 2 3
-4.59% Nov 2021 Nov 2021 1 Mar 2022 4 5
-4.57% Jan 2005 Jan 2005 1 Feb 2005 1 2
-4.47% May 2006 Jun 2006 2 Oct 2006 4 6
-3.56% Jun 2021 Sep 2021 4 Oct 2021 1 5
-2.26% Feb 2006 Feb 2006 1 Apr 2006 2 3
-2.03% Apr 2000 Apr 2000 1 Jun 2000 2 3
-0.80% Jun 2007 Jun 2007 1 Sep 2007 3 4
-0.78% Jan 2021 Jan 2021 1 Feb 2021 1 2
-0.65% Dec 2006 Dec 2006 1 Feb 2007 2 3
-0.16% Jul 2014 Jul 2014 1 Aug 2014 1 2

Worst drawdowns since January 1997.

Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-56.67% Nov 2007 Feb 2009 16 Jun 2014 64 80
-47.84% Sep 2000 Sep 2002 25 Oct 2004 25 50
-34.11% Sep 2014 Jan 2016 17 Nov 2019 46 63
-30.77% May 1998 Aug 1998 4 Oct 1999 14 18
-26.90% Jan 2020 Mar 2020 3 Nov 2020 8 11
-22.93% Apr 2022 Sep 2022 6 in progress 6 12
-9.24% Aug 1997 Nov 1997 4 Feb 1998 3 7
-7.28% Oct 2005 Oct 2005 1 Dec 2005 2 3
-6.80% Feb 1997 Mar 1997 2 May 1997 2 4
-6.11% Apr 2005 Apr 2005 1 Jun 2005 2 3
-4.59% Nov 2021 Nov 2021 1 Mar 2022 4 5
-4.57% Jan 2005 Jan 2005 1 Feb 2005 1 2
-4.47% May 2006 Jun 2006 2 Oct 2006 4 6
-3.56% Jun 2021 Sep 2021 4 Oct 2021 1 5
-2.26% Feb 2006 Feb 2006 1 Apr 2006 2 3
-2.03% Apr 2000 Apr 2000 1 Jun 2000 2 3
-0.80% Jun 2007 Jun 2007 1 Sep 2007 3 4
-0.78% Jan 2021 Jan 2021 1 Feb 2021 1 2
-0.65% Dec 2006 Dec 2006 1 Feb 2007 2 3
-0.16% Jul 2014 Jul 2014 1 Aug 2014 1 2

Rolling Returns ( more details)

iShares MSCI Canada ETF (EWC) ETF: annualized rolling and average returns

Swipe left to see all data
Rolling
Period
Return (*) Negative
Periods
Average (%) Best (%) Worst (%)
1 Year
9.59 74.06
Mar 2009 - Feb 2010
-51.74
Mar 2008 - Feb 2009
34.21%
2 Years
8.51 52.33
Sep 1998 - Aug 2000
-25.84
Oct 2000 - Sep 2002
28.42%
3 Years
7.81 37.31
Oct 2002 - Sep 2005
-12.18
Mar 2006 - Feb 2009
23.57%
5 Years
7.14 33.03
Nov 2002 - Oct 2007
-6.44
Mar 2011 - Feb 2016
13.28%
7 Years
7.34 18.28
Oct 2002 - Sep 2009
-1.60
Apr 2013 - Mar 2020
3.88%
10 Years
7.09 16.39
Sep 1998 - Aug 2008
-0.32
Apr 2010 - Mar 2020
1.02%
15 Years
6.77 10.66
Sep 1998 - Aug 2013
1.49
Nov 2007 - Oct 2022
0.00%
20 Years
7.19 9.12
Nov 2001 - Oct 2021
3.96
Apr 2000 - Mar 2020
0.00%
(*) Annualized rolling and average returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the iShares MSCI Canada ETF (EWC) ETF: Rolling Returns page.

Seasonality

iShares MSCI Canada ETF (EWC) ETF: in which months is it better to invest?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.

For further information about the seasonality, check the Asset Class Seasonality page.
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
4.05
40%
-0.76
60%
-2.03
60%
2.64
80%
1.98
80%
-0.33
40%
2.44
80%
-0.31
40%
-2.71
20%
0.72
40%
3.96
80%
-0.94
60%
 Capital Growth on monthly avg returns
100
104.05
103.25
101.16
103.83
105.89
105.54
108.11
107.77
104.85
105.60
109.78
108.75
Best 12.9
2019
5.1
2021
5.8
2021
11.1
2020
6.3
2021
5.7
2019
5.5
2020
5.1
2020
2.5
2019
7.9
2021
14.4
2020
4.1
2021
Worst -0.8
2021
-7.0
2020
-20.8
2020
-7.9
2022
-4.3
2019
-10.3
2022
-0.8
2019
-4.6
2022
-8.7
2022
-7.9
2018
-4.6
2021
-8.6
2018
Monthly Seasonality over the period Apr 2018 - Mar 2023
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.96
40%
0.13
60%
-0.24
60%
2.68
70%
0.08
50%
0.02
50%
2.07
70%
-0.51
40%
-1.67
40%
0.64
40%
1.98
70%
-0.64
60%
 Capital Growth on monthly avg returns
100
100.96
101.09
100.85
103.56
103.64
103.66
105.81
105.27
103.52
104.18
106.25
105.56
Best 12.9
2019
6.0
2015
9.6
2016
11.1
2020
6.3
2021
5.7
2014
5.7
2013
5.1
2020
3.8
2017
7.9
2021
14.4
2020
4.1
2021
Worst -8.4
2015
-7.0
2020
-20.8
2020
-7.9
2022
-4.6
2015
-10.3
2022
-4.2
2015
-5.0
2015
-8.7
2022
-7.9
2018
-4.6
2021
-8.6
2018
Monthly Seasonality over the period Apr 2013 - Mar 2023
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.08
56%
0.52
63%
0.54
59%
2.79
77%
1.54
58%
-0.05
46%
1.10
58%
-0.61
46%
-0.84
54%
0.54
54%
1.22
65%
1.30
69%
 Capital Growth on monthly avg returns
100
101.08
101.61
102.16
105.01
106.62
106.57
107.75
107.10
106.20
106.77
108.07
109.47
Best 12.9
2019
9.5
1998
9.6
2016
13.9
2009
23.3
2009
10.0
2000
13.0
2009
8.2
2000
9.5
2007
10.8
2011
14.4
2020
9.6
1999
Worst -8.4
2015
-15.8
2001
-20.8
2020
-8.4
2004
-10.7
2012
-10.3
2022
-12.8
2002
-22.5
1998
-14.7
2011
-27.2
2008
-11.6
2007
-8.6
2018
Monthly Seasonality over the period Jan 1997 - Mar 2023

Monthly/Yearly Returns

iShares MSCI Canada ETF (EWC) ETF data source starts from January 1997: let's focus on monthly and yearly returns.

We are providing two different views:
  • Histogram: it shows the distribution of the returns recorded so far
  • Plain Table: it shows the detailed monthly and yearly returns
MONTHLY RETURNS HISTOGRAM
Jan 1997 - Mar 2023
185 Positive Months (59%) - 130 Negative Months (41%)
MONTHLY RETURNS TABLE
Jan 1997 - Mar 2023
(Scroll down to see all data)
Swipe left to see all data
Yearly Return(%)
Monthly Return(%)
Year Total Infl.Adj Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2023
+4.43 +3.03 9.5 -5.0 0.4
2022
-12.95 -18.23 -0.6 0.1 5.2 -7.9 2.1 -10.3 4.8 -4.6 -8.7 7.4 6.5 -5.6
2021
+27.00 +18.65 -0.8 5.1 5.8 4.6 6.3 -1.0 0.2 0.0 -2.8 7.9 -4.6 4.1
2020
+5.52 +4.10 -0.7 -7.0 -20.8 11.1 3.5 4.0 5.5 5.1 -4.5 -3.4 14.4 3.1
2019
+27.56 +24.71 12.9 3.0 -0.8 3.3 -4.3 5.7 -0.8 -0.7 2.5 -0.4 3.0 2.2
2018
-17.16 -18.71 0.8 -7.0 -0.8 2.1 2.2 0.0 2.5 -1.4 -0.1 -7.9 0.5 -8.6
2017
+15.74 +13.35 3.9 -1.8 0.7 -2.3 -0.4 3.1 4.3 -0.1 3.8 -0.5 0.5 3.7
2016
+23.82 +21.30 -2.7 3.4 9.6 7.1 -3.6 0.9 3.0 0.3 1.5 -1.3 2.6 1.5
2015
-23.91 -24.46 -8.4 6.0 -3.0 7.1 -4.6 -3.3 -4.2 -5.0 -5.2 3.5 -2.2 -6.4
2014
+1.08 +0.33 -4.2 4.5 1.3 3.4 0.5 5.7 -0.2 2.2 -6.6 -2.5 0.1 -2.3
2013
+5.30 +3.74 1.7 -2.3 1.0 -1.7 -1.0 -4.6 5.7 -0.9 3.4 3.7 -0.9 1.6
2012
+9.12 +7.25 5.7 3.2 -2.3 0.1 -10.7 2.9 1.7 4.6 3.6 0.0 -1.3 2.4
2011
-12.43 -14.95 0.9 7.6 -0.2 0.3 -2.4 -3.1 -2.3 -3.4 -14.7 10.8 -2.8 -1.8
2010
+19.78 +18.01 -7.2 6.0 7.7 1.1 -7.3 -4.3 7.2 -2.1 7.4 3.2 1.4 6.8
2009
+53.13 +49.08 -4.2 -9.6 9.1 13.9 23.3 -6.9 13.0 -1.7 7.1 -6.4 8.6 2.6
2008
-44.45 -44.50 -5.7 5.7 -5.3 7.1 7.9 -5.0 -5.5 -3.1 -13.3 -27.2 -10.8 3.9
2007
+28.39 +23.36 0.1 0.6 2.6 6.1 8.5 -0.8 0.0 0.1 9.5 10.2 -11.6 1.9
2006
+16.91 +14.02 9.0 -2.3 1.2 5.2 -2.3 -2.3 0.1 4.1 -3.0 4.8 2.5 -0.6
2005
+27.53 +23.31 -4.6 6.7 1.4 -6.1 2.7 5.4 5.8 6.2 5.7 -7.3 5.3 4.7
2004
+22.77 +18.90 0.4 2.7 -0.7 -8.4 1.7 5.7 -0.1 -0.6 8.3 6.4 5.0 1.3
2003
+53.51 +50.68 4.2 1.6 -2.4 7.6 9.5 2.6 -1.2 5.7 0.7 6.5 4.2 5.2
2002
-10.84 -12.91 -0.2 0.9 3.4 0.7 1.5 -6.1 -12.8 4.8 -11.3 5.8 5.8 -1.7
2001
-19.98 -21.21 5.4 -15.8 -8.6 8.8 3.4 -5.7 -1.2 -5.1 -9.9 -0.3 10.2 0.3
2000
+8.16 +4.62 1.1 4.1 6.1 -2.0 0.3 10.0 2.8 8.2 -5.1 -7.8 -11.3 3.8
1999
+48.64 +44.75 8.6 -5.0 4.2 10.1 -4.1 7.1 -0.9 0.4 0.0 5.6 6.2 9.6
1998
-7.86 -9.32 -0.9 9.5 5.6 0.0 -1.6 -2.1 -7.2 -22.5 4.4 9.0 3.3 -1.1
1997
+10.60 +8.75 5.1 -1.0 -5.9 1.6 8.7 0.9 8.4 -6.2 5.6 -5.7 -2.8 3.0
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