Data Source: from January 1997 to December 2022 (~26 years)
Consolidated Returns as of 31 December 2022
Category: Stocks
ETF: iShares MSCI Hong Kong ETF (EWH)

In the last 25 Years, the iShares MSCI Hong Kong ETF (EWH) ETF obtained a 5.69% compound annual return, with a 23.99% standard deviation.

In 2022, the ETF granted a 2.65% dividend yield. If you are interested in getting periodic income, please refer to the iShares MSCI Hong Kong ETF (EWH) ETF: Dividend Yield page.

The ETF is related to the following investment themes:

  • Asset Class: Equity
  • Size: Large Cap
  • Style: Blend
  • Region: Developed Asia Pacific
  • Country: Developed Asia Pacific ex-Japan

Historical Returns as of Dec 31, 2022

Historical returns and Metrics of iShares MSCI Hong Kong ETF (EWH) ETF.

Returns and metrics are calculated based on monthly returns, assuming:
  • No fees or capital gain taxes
  • the reinvestment of dividends
ISHARES MSCI HONG KONG ETF (EWH) ETF
Portfolio Metrics
Data Source: 1 January 1997 - 31 December 2022 (~26 years)
Swipe left to see all data
Metrics as of Dec 31, 2022
1M 3M 6M 1Y 3Y 5Y 10Y 20Y MAX
(~26Y)
Portfolio
Return (%)
6.37 16.70 -4.12 -6.82 -2.14 -1.09 3.88 8.41 4.25
US Inflation (%) -0.31 0.00 0.16 6.45 4.92 3.78 2.60 2.51 2.44
Infl. Adjusted
Return (%)
6.70 16.70 -4.28 -12.47 -6.73 -4.69 1.25 5.76 1.76
Returns / Inflation rates over 1 year are annualized.
RISK INDICATORS
Standard Deviation (%) 31.39 23.93 21.50 18.61 20.47 24.63
Sharpe Ratio -0.26 -0.11 -0.10 0.18 0.36 0.01
Sortino Ratio -0.46 -0.18 -0.15 0.25 0.50 0.02
MAXIMUM DRAWDOWN
Drawdown Depth (%) -31.06 -40.35 -40.35 -40.35 -57.02 -65.56
Start (yyyy mm) 2022 02 2021 06 2021 06 2021 06 2007 11 1997 08
Bottom (yyyy mm) 2022 10 2022 10 2022 10 2022 10 2009 02 1998 08
Start to Bottom (# months) 9 17 17 17 16 13
Start to Recovery (# months) in progress
> 11
> 19
> 19
> 19
63
104
ROLLING PERIOD RETURNS - Annualized
Best Return (%) 119.19 32.09 28.73 14.52 10.68
Worst Return (%) -59.95 -18.95 -12.05 1.58 4.21
% Positive Periods 61% 77% 87% 100% 100%
MONTHS
Positive 1 2 2 5 18 30 67 147 179
Negative 0 1 4 7 18 30 53 93 133
% Positive 100% 67% 33% 42% 50% 50% 56% 61% 57%
WITHDRAWAL RATES (WR)
Safe WR (%) 30.86 18.41 12.35 12.43 4.13
Perpetual WR (%) 0.00 0.00 1.24 5.45 1.73
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 Dec 31, 2022

Monthly correlations of iShares MSCI Hong Kong ETF (EWH) 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 HONG KONG ETF (EWH) ETF
Monthly correlations as of 31 December 2022
Swipe left to see all data
Correlation vs EWH
 
Asset Class 1 Year 5 Years 10 Years Since
Jan 1997
US Total Stock Market
VTI
0.13
0.49
0.51
0.64
US Large Cap
SPY
0.16
0.48
0.50
0.62
US Small Cap
IJR
0.00
0.48
0.44
0.57
US REITs
VNQ
0.26
0.42
0.42
0.43
US Technology
QQQ
0.18
0.43
0.49
0.54
Preferred Stocks
PFF
0.47
0.44
0.42
0.32
EAFE Stocks
EFA
0.53
0.68
0.69
0.69
World All Countries
VT
0.33
0.60
0.63
0.70
Emerging Markets
EEM
0.84
0.80
0.80
0.83
Europe
VGK
0.48
0.65
0.64
0.63
Pacific
VPL
0.59
0.69
0.73
0.70
Latin America
FLLA
-0.07
0.34
0.41
0.66
US Total Bond Market
BND
0.65
0.33
0.31
0.12
Long Term Treasuries
TLT
0.76
0.04
0.06
-0.11
US Cash
BIL
0.42
0.06
0.01
-0.04
TIPS
TIP
0.26
0.22
0.29
0.14
Invest. Grade Bonds
LQD
0.61
0.44
0.42
0.25
High Yield Bonds
HYG
0.18
0.38
0.41
0.46
International Bonds
BNDX
0.34
0.17
0.18
0.20
Emerg. Market Bonds
EMB
0.68
0.56
0.55
0.57
Gold
GLD
0.65
0.25
0.19
0.23
Commodities
DBC
0.02
0.38
0.30
0.33

Capital Growth as of Dec 31, 2022

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 Hong Kong ETF (EWH) ETF: Dividend Yield page.

An investment of 1000$, since January 1998, now would be worth 3985.31$, with a total return of 298.53% (5.69% annualized).

The Inflation Adjusted Capital now would be 2165.89$, with a net total return of 116.59% (3.14% annualized).
An investment of 1000$, since January 1997, now would be worth 2948.27$, with a total return of 194.83% (4.25% annualized).

The Inflation Adjusted Capital now would be 1575.47$, with a net total return of 57.55% (1.76% annualized).

Drawdowns

Worst drawdowns since January 1998.

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Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-57.02% Nov 2007 Feb 2009 16 Jan 2013 47 63
-48.85% Jan 2000 Mar 2003 39 Jul 2005 28 67
-47.54% Apr 1998 Aug 1998 5 Apr 1999 8 13
-40.35% Jun 2021 Oct 2022 17 in progress 2 19
-23.05% May 2019 May 2020 13 Feb 2021 9 22
-22.64% May 2015 Jan 2016 9 Apr 2017 15 24
-18.38% Feb 2018 Oct 2018 9 Mar 2019 5 14
-9.80% Jul 1999 Sep 1999 3 Nov 1999 2 5
-8.32% May 2013 Jun 2013 2 Sep 2013 3 5
-7.59% Aug 2014 Sep 2014 2 Mar 2015 6 8
-7.47% Jan 1998 Jan 1998 1 Feb 1998 1 2
-7.18% Jan 2014 Jan 2014 1 May 2014 4 5
-7.00% Oct 2005 Oct 2005 1 Jan 2006 3 4
-6.36% May 2006 May 2006 1 Oct 2006 5 6
-6.22% May 1999 May 1999 1 Jun 1999 1 2
-4.15% Feb 2007 Feb 2007 1 May 2007 3 4
-2.22% Feb 2013 Mar 2013 2 Apr 2013 1 3
-1.34% Feb 2006 Feb 2006 1 Mar 2006 1 2
-0.91% Aug 2005 Aug 2005 1 Sep 2005 1 2
-0.04% Oct 2017 Oct 2017 1 Nov 2017 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
-65.56% Aug 1997 Aug 1998 13 Mar 2006 91 104
-57.02% Nov 2007 Feb 2009 16 Jan 2013 47 63
-40.35% Jun 2021 Oct 2022 17 in progress 2 19
-23.05% May 2019 May 2020 13 Feb 2021 9 22
-22.64% May 2015 Jan 2016 9 Apr 2017 15 24
-18.38% Feb 2018 Oct 2018 9 Mar 2019 5 14
-12.20% Jan 1997 Mar 1997 3 May 1997 2 5
-8.32% May 2013 Jun 2013 2 Sep 2013 3 5
-7.59% Aug 2014 Sep 2014 2 Mar 2015 6 8
-7.18% Jan 2014 Jan 2014 1 May 2014 4 5
-6.36% May 2006 May 2006 1 Oct 2006 5 6
-4.15% Feb 2007 Feb 2007 1 May 2007 3 4
-2.22% Feb 2013 Mar 2013 2 Apr 2013 1 3
-0.04% Oct 2017 Oct 2017 1 Nov 2017 1 2

Rolling Returns ( more details)

iShares MSCI Hong Kong ETF (EWH) ETF: annualized rolling and average returns

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Rolling
Period
Return (*) Negative
Periods
Average (%) Best (%) Worst (%)
1 Year
7.61 119.19
Sep 1998 - Aug 1999
-59.95
Sep 1997 - Aug 1998
39.20%
2 Years
7.02 60.23
Sep 1998 - Aug 2000
-22.70
Sep 2000 - Aug 2002
28.37%
3 Years
6.54 32.09
Nov 2004 - Oct 2007
-18.95
Apr 2000 - Mar 2003
22.74%
5 Years
6.78 28.73
Nov 2002 - Oct 2007
-12.05
Oct 1997 - Sep 2002
12.65%
7 Years
7.38 16.37
Apr 2003 - Mar 2010
-4.61
Aug 1997 - Jul 2004
4.80%
10 Years
7.65 14.52
May 2003 - Apr 2013
1.58
Nov 2012 - Oct 2022
0.00%
15 Years
7.46 12.38
May 2003 - Apr 2018
0.45
Nov 2007 - Oct 2022
0.00%
20 Years
7.03 10.68
Sep 1998 - Aug 2018
4.21
Jan 1997 - Dec 2016
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 Hong Kong ETF (EWH) ETF: Rolling Returns page.

Seasonality

iShares MSCI Hong Kong ETF (EWH) 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
2.46
80%
0.33
60%
-2.47
40%
1.19
80%
-1.04
60%
1.88
60%
-1.92
20%
-1.60
20%
-4.54
0%
-3.44
40%
7.37
60%
2.95
80%
 Capital Growth on monthly avg returns
100
102.46
102.80
100.26
101.46
100.40
102.29
100.33
98.72
94.23
90.99
97.69
100.58
Best 9.6
2019
5.0
2021
1.4
2019
6.1
2020
3.7
2022
9.8
2020
2.3
2018
7.5
2020
-0.6
2019
4.8
2019
24.3
2022
6.4
2022
Worst -5.8
2020
-4.3
2022
-13.2
2020
-5.3
2022
-6.9
2019
-5.4
2018
-4.3
2022
-8.1
2019
-10.8
2022
-11.7
2022
-5.1
2021
-1.1
2018
Monthly Seasonality over the period Jan 2018 - Dec 2022
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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
1.37
70%
1.00
70%
-0.25
50%
2.31
90%
-0.16
50%
0.40
60%
0.91
50%
-2.14
30%
-1.93
30%
-0.40
50%
3.91
60%
0.52
60%
 Capital Growth on monthly avg returns
100
101.37
102.38
102.13
104.49
104.32
104.74
105.69
103.42
101.43
101.02
104.97
105.51
Best 9.6
2019
5.5
2014
9.3
2016
8.5
2015
4.7
2014
9.8
2020
6.7
2016
7.5
2020
6.5
2013
7.3
2015
24.3
2022
6.4
2022
Worst -9.3
2016
-4.3
2022
-13.2
2020
-5.3
2022
-6.9
2019
-5.4
2018
-4.3
2022
-13.3
2015
-10.8
2022
-11.7
2022
-5.1
2021
-7.0
2016
Monthly Seasonality over the period Jan 2013 - Dec 2022
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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
0.00
54%
0.46
54%
-0.31
54%
2.82
81%
-0.45
46%
0.39
62%
1.34
62%
-1.97
42%
-0.22
46%
1.06
65%
2.49
58%
1.56
65%
 Capital Growth on monthly avg returns
100
100.00
100.46
100.15
102.97
102.51
102.90
104.28
102.23
102.01
103.09
105.66
107.31
Best 9.6
2019
9.9
1998
12.2
1999
23.7
1999
19.5
2009
13.8
1999
11.6
2009
11.2
2003
25.8
1998
38.4
1998
24.3
2022
10.1
2000
Worst -9.3
2016
-7.7
2008
-13.2
2020
-9.6
1998
-16.9
1998
-11.5
2008
-8.7
1999
-18.6
1998
-18.8
2011
-28.1
1997
-8.2
2000
-7.0
2016
Monthly Seasonality over the period Jan 1997 - Dec 2022

Monthly/Yearly Returns

iShares MSCI Hong Kong ETF (EWH) 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 - Dec 2022
179 Positive Months (57%) - 133 Negative Months (43%)
MONTHLY RETURNS TABLE
Jan 1997 - Dec 2022
(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
2022
-6.82 -12.47 2.2 -4.3 -0.5 -5.3 3.7 1.7 -4.3 -3.8 -10.8 -11.7 24.3 6.4
2021
-3.48 -9.82 1.7 5.0 1.0 2.6 3.0 -3.6 -2.4 -1.2 -6.9 2.3 -5.1 0.7
2020
+4.19 +2.79 -5.8 0.3 -13.2 6.1 -6.2 9.8 -1.2 7.5 -3.4 -1.9 10.7 4.5
2019
+10.71 +8.24 9.6 4.6 1.4 1.0 -6.9 6.9 -4.0 -8.1 -0.6 4.8 -1.0 4.2
2018
-8.73 -10.44 4.6 -3.8 -1.1 1.6 1.1 -5.4 2.3 -2.5 -1.0 -10.7 8.0 -1.1
2017
+36.50 +33.68 8.0 2.8 3.0 2.9 3.3 0.8 3.6 1.7 0.0 0.0 4.0 1.9
2016
+1.35 -0.71 -9.3 0.7 9.3 0.1 -0.2 1.1 6.7 0.6 4.7 -2.0 -1.9 -7.0
2015
-1.17 -1.89 5.5 0.2 1.0 8.5 -0.5 -3.5 -1.5 -13.3 -0.8 7.3 -2.0 -0.3
2014
+3.25 +2.48 -7.2 5.5 -2.0 2.5 4.7 0.9 5.4 -0.7 -6.9 6.3 0.3 -4.4
2013
+9.52 +7.90 4.5 -0.8 -1.4 3.1 -3.7 -4.8 4.4 -1.7 6.5 1.6 1.9 0.2
2012
+29.36 +27.15 9.2 8.0 -4.4 0.6 -9.3 5.4 2.1 1.4 7.1 1.6 3.3 2.3
2011
-16.21 -18.62 1.4 -2.7 1.4 2.3 0.5 -3.5 1.5 -6.1 -18.8 13.0 -1.2 -2.2
2010
+24.11 +22.28 -6.6 5.5 5.6 -3.9 -5.6 1.7 7.9 0.3 13.4 3.3 0.9 1.1
2009
+55.11 +51.00 -3.4 -4.0 5.7 16.7 19.5 -1.8 11.6 -6.0 7.6 0.1 2.1 0.1
2008
-50.29 -50.34 -8.8 -7.7 -2.8 8.4 -0.2 -11.5 -1.4 -5.0 -16.7 -21.1 -1.3 4.6
2007
+39.40 +33.93 2.4 -4.1 2.2 1.6 3.1 1.1 5.4 2.8 14.0 13.8 -5.3 -1.6
2006
+29.30 +26.10 6.3 -1.3 2.0 6.1 -6.4 0.9 1.6 3.3 -0.4 3.6 5.5 5.8
2005
+7.29 +3.74 -4.7 3.4 -3.4 4.7 0.0 3.1 6.1 -0.9 4.0 -7.0 2.0 0.7
2004
+23.63 +19.74 8.9 3.7 -6.1 -7.5 2.5 0.7 0.1 7.9 1.6 0.1 8.4 2.5
2003
+38.55 +35.99 0.7 -1.9 -6.9 1.5 9.8 0.5 6.5 11.2 4.5 6.1 -1.1 3.6
2002
-17.43 -19.35 -0.9 -4.6 6.0 7.6 -3.8 -6.5 -5.8 -6.6 -8.8 6.7 5.3 -5.5
2001
-18.21 -19.46 5.7 -1.7 -10.6 0.7 -1.0 -5.2 -2.8 -6.0 -12.3 1.3 10.2 4.3
2000
-17.60 -20.30 -8.8 2.4 2.8 -8.2 -7.5 7.0 6.0 3.9 -10.2 -5.7 -8.2 10.1
1999
+56.63 +52.53 -7.3 0.0 12.2 23.7 -6.2 13.8 -8.7 2.6 -3.7 5.5 8.9 10.1
1998
-9.07 -10.51 -7.5 9.9 0.0 -9.6 -16.9 -6.8 -8.1 -18.6 25.8 38.4 -1.9 -0.2
1997
-26.02 -27.26 -0.4 -2.9 -9.2 5.6 11.4 7.1 3.7 -14.0 6.4 -28.1 -1.7 -0.2
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