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

In the last 25 Years, the iShares MSCI Singapore ETF (EWS) ETF obtained a 4.99% compound annual return, with a 25.27% standard deviation.

In 2022, the ETF granted a 2.26% dividend yield. If you are interested in getting periodic income, please refer to the iShares MSCI Singapore ETF (EWS) ETF: Dividend Yield page.

The ETF is related to the following investment themes:

  • Asset Class: Equity
  • Size: Large Cap
  • Style: Blend
  • Region: Developed Markets
  • Country: Broad Developed Markets

Historical Returns as of Dec 31, 2022

Historical returns and Metrics of iShares MSCI Singapore ETF (EWS) ETF.

Returns and metrics are calculated based on monthly returns, assuming:
  • No fees or capital gain taxes
  • the reinvestment of dividends
ISHARES MSCI SINGAPORE ETF (EWS) 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 (%)		 -1.09 11.11 7.52 -9.79 -4.49 -2.42 0.07 8.01 2.45
US Inflation (%) -0.31 0.00 0.16 6.45 4.92 3.78 2.60 2.51 2.44
Infl. Adjusted
Return (%)		 -0.79 11.11 7.35 -15.26 -8.96 -5.97 -2.47 5.37 0.01
Returns / Inflation rates over 1 year are annualized.
RISK INDICATORS
Standard Deviation (%) 16.90 20.75 19.38 17.58 20.97 25.66
Sharpe Ratio -0.66 -0.24 -0.18 -0.03 0.33 -0.06
Sortino Ratio -1.17 -0.35 -0.25 -0.04 0.45 -0.08
MAXIMUM DRAWDOWN
Drawdown Depth (%) -18.81 -28.13 -32.07 -32.07 -60.07 -73.77
Start (yyyy mm) 2022 01 2020 01 2018 05 2018 05 2007 11 1997 02
Bottom (yyyy mm) 2022 09 2020 03 2020 03 2020 03 2009 02 1998 08
Start to Bottom (# months) 9 3 23 23 16 19
Start to Recovery (# months) in progress
> 12
16
> 56
> 56
38
117
ROLLING PERIOD RETURNS - Annualized
Best Return (%) 155.37 36.20 31.21 17.54 10.45
Worst Return (%) -62.92 -20.67 -14.05 -0.52 2.29
% Positive Periods 58% 66% 78% 98% 100%
MONTHS
Positive 0 2 3 3 15 27 60 136 172
Negative 1 1 3 9 21 33 60 104 140
% Positive 0% 67% 50% 25% 42% 45% 50% 57% 55%
WITHDRAWAL RATES (WR)
Safe WR (%) 28.50 17.49 9.29 13.96 3.09
Perpetual WR (%) 0.00 0.00 0.00 5.09 0.01
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 Singapore ETF (EWS) 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 SINGAPORE ETF (EWS) ETF
Monthly correlations as of 31 December 2022
Swipe left to see all data
Correlation vs EWS
 
Asset Class 1 Year 5 Years 10 Years Since
Jan 1997
US Total Stock Market
VTI
0.78
0.76
0.70
0.69
US Large Cap
SPY
0.79
0.75
0.70
0.68
US Small Cap
IJR
0.69
0.76
0.63
0.62
US REITs
VNQ
0.77
0.62
0.55
0.49
US Technology
QQQ
0.79
0.64
0.60
0.55
Preferred Stocks
PFF
0.81
0.62
0.54
0.37
EAFE Stocks
EFA
0.92
0.87
0.80
0.73
World All Countries
VT
0.88
0.83
0.79
0.76
Emerging Markets
EEM
0.85
0.80
0.81
0.83
Europe
VGK
0.87
0.86
0.77
0.68
Pacific
VPL
0.95
0.84
0.80
0.72
Latin America
FLLA
0.41
0.65
0.64
0.71
US Total Bond Market
BND
0.87
0.30
0.27
0.08
Long Term Treasuries
TLT
0.83
-0.10
-0.05
-0.14
US Cash
BIL
0.32
-0.12
-0.09
-0.07
TIPS
TIP
0.78
0.35
0.36
0.14
Invest. Grade Bonds
LQD
0.90
0.52
0.46
0.25
High Yield Bonds
HYG
0.81
0.69
0.63
0.52
International Bonds
BNDX
0.85
0.33
0.28
0.19
Emerg. Market Bonds
EMB
0.93
0.67
0.62
0.60
Gold
GLD
0.60
0.17
0.15
0.21
Commodities
DBC
0.16
0.57
0.47
0.35

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 Singapore ETF (EWS) ETF: Dividend Yield page.

An investment of 1000$, since January 1998, now would be worth 3375.15$, with a total return of 237.52% (4.99% annualized).

The Inflation Adjusted Capital now would be 1834.29$, with a net total return of 83.43% (2.46% annualized).
An investment of 1000$, since January 1997, now would be worth 1876.41$, with a total return of 87.64% (2.45% annualized).

The Inflation Adjusted Capital now would be 1002.70$, with a net total return of 0.27% (0.01% annualized).
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Drawdowns

Worst drawdowns since January 1998.

Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-60.07% Nov 2007 Feb 2009 16 Dec 2010 22 38
-53.72% Apr 1998 Aug 1998 5 Apr 1999 8 13
-53.11% Jan 2000 Mar 2003 39 Jul 2005 28 67
-32.07% May 2018 Mar 2020 23 in progress 33 56
-29.26% Aug 2014 Jan 2016 18 Oct 2017 21 39
-23.50% Aug 2011 Sep 2011 2 Dec 2012 15 17
-12.53% May 2013 Aug 2013 4 Jul 2014 11 15
-10.95% Jul 1999 Sep 1999 3 Dec 1999 3 6
-9.43% Jan 1998 Jan 1998 1 Feb 1998 1 2
-7.82% May 2006 May 2006 1 Oct 2006 5 6
-5.78% Jan 2011 Feb 2011 2 Apr 2011 2 4
-5.55% Aug 2005 Oct 2005 3 Dec 2005 2 5
-3.63% May 2011 Jun 2011 2 Jul 2011 1 3
-3.09% Feb 2018 Mar 2018 2 Apr 2018 1 3
-2.85% Jun 2007 Aug 2007 3 Sep 2007 1 4
-2.46% May 1999 May 1999 1 Jun 1999 1 2
-0.80% Feb 2013 Feb 2013 1 Mar 2013 1 2
-0.26% Feb 2007 Feb 2007 1 Mar 2007 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
-73.77% Feb 1997 Aug 1998 19 Oct 2006 98 117
-60.07% Nov 2007 Feb 2009 16 Dec 2010 22 38
-32.07% May 2018 Mar 2020 23 in progress 33 56
-29.26% Aug 2014 Jan 2016 18 Oct 2017 21 39
-23.50% Aug 2011 Sep 2011 2 Dec 2012 15 17
-12.53% May 2013 Aug 2013 4 Jul 2014 11 15
-5.78% Jan 2011 Feb 2011 2 Apr 2011 2 4
-3.63% May 2011 Jun 2011 2 Jul 2011 1 3
-3.09% Feb 2018 Mar 2018 2 Apr 2018 1 3
-2.85% Jun 2007 Aug 2007 3 Sep 2007 1 4
-0.80% Feb 2013 Feb 2013 1 Mar 2013 1 2
-0.26% Feb 2007 Feb 2007 1 Mar 2007 1 2

Rolling Returns ( more details)

iShares MSCI Singapore ETF (EWS) ETF: annualized rolling and average returns

Swipe left to see all data
Rolling
Period		 Return (*) Negative
Periods
Average (%) Best (%) Worst (%)
1 Year
 7.33 155.37
Sep 1998 - Aug 1999 		-62.92
Sep 1997 - Aug 1998 		42.19%
2 Years
 6.36 59.17
Sep 1998 - Aug 2000 		-29.38
Feb 1997 - Jan 1999 		35.29%
3 Years
 5.67 36.20
Nov 2004 - Oct 2007 		-20.67
Jan 2000 - Dec 2002 		33.94%
5 Years
 6.20 31.21
Nov 2002 - Oct 2007 		-14.05
Jan 1997 - Dec 2001 		21.74%
7 Years
 6.85 20.66
May 2003 - Apr 2010 		-7.42
Jan 1997 - Dec 2003 		8.73%
10 Years
 7.34 17.54
Apr 2003 - Mar 2013 		-0.52
Oct 2012 - Sep 2022 		1.55%
15 Years
 7.14 13.08
Sep 1998 - Aug 2013 		0.03
Nov 2007 - Oct 2022 		0.00%
20 Years
 6.35 10.45
Sep 1998 - Aug 2018 		2.29
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 Singapore ETF (EWS) ETF: Rolling Returns page.

Seasonality

iShares MSCI Singapore ETF (EWS) 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
1.29
60%
-1.21
20%
-2.82
40%
2.61
80%
-3.49
20%
-0.28
40%
1.17
60%
-2.08
20%
-1.09
40%
-0.17
60%
4.87
60%
0.66
40%
 Capital Growth on monthly avg returns
100
101.29
100.06
97.24
99.78
96.29
96.02
97.15
95.13
94.09
93.94
98.51
99.16
Best 6.6
2019 		2.5
2021 		6.1
2021 		6.7
2020 		0.6
2021 		10.2
2019 		5.9
2022 		2.3
2020 		2.0
2018 		5.6
2021 		17.3
2020 		3.3
2020
Worst -5.2
2020 		-4.6
2020 		-20.5
2020 		-6.3
2022 		-9.1
2019 		-7.4
2018 		-2.1
2019 		-5.5
2019 		-5.8
2022 		-8.4
2018 		-6.5
2021 		-1.7
2018
Monthly Seasonality over the period Jan 2018 - Dec 2022
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
-0.20
50%
0.31
50%
0.52
60%
2.84
90%
-2.88
30%
-0.15
40%
1.54
70%
-3.35
10%
-0.49
40%
1.12
60%
2.35
60%
0.02
40%
 Capital Growth on monthly avg returns
100
99.80
100.11
100.63
103.48
100.50
100.35
101.90
98.49
98.01
99.11
101.44
101.45
Best 9.2
2017 		3.7
2014 		12.0
2016 		6.9
2015 		3.1
2017 		10.2
2019 		5.9
2022 		2.3
2020 		7.7
2013 		9.3
2015 		17.3
2020 		3.3
2020
Worst -8.7
2016 		-4.6
2020 		-20.5
2020 		-6.3
2022 		-9.1
2019 		-7.4
2018 		-4.2
2015 		-12.1
2015 		-5.8
2022 		-8.4
2018 		-6.5
2021 		-2.2
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
-0.16
50%
-0.59
42%
0.70
65%
3.38
81%
-1.48
38%
0.68
50%
2.07
69%
-3.54
27%
-0.74
54%
1.97
65%
1.65
58%
1.78
62%
 Capital Growth on monthly avg returns
100
99.84
99.25
99.95
103.33
101.80
102.49
104.61
100.91
100.17
102.14
103.83
105.68
Best 14.3
2012 		14.6
1998 		12.0
2016 		27.1
1999 		27.3
2009 		16.0
1999 		16.7
2009 		5.6
2000 		17.6
1998 		40.0
1998 		17.3
2020 		12.1
2001
Worst -12.2
2000 		-11.0
2009 		-20.5
2020 		-9.8
1998 		-18.8
1998 		-13.4
1998 		-6.8
2002 		-27.0
1998 		-20.8
2001 		-27.8
2008 		-8.6
2007 		-10.0
1997
Monthly Seasonality over the period Jan 1997 - Dec 2022

Monthly/Yearly Returns

iShares MSCI Singapore ETF (EWS) 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
172 Positive Months (55%) - 140 Negative Months (45%)
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
 -9.79 -15.26 -1.4 -0.5 -0.7 -6.3 -2.3 -5.9 5.9 -3.0 -5.8 0.8 11.4 -1.1
2021
 +5.56 -1.38 0.3 2.5 6.1 2.2 0.6 -2.4 1.1 -1.7 -1.4 5.6 -6.5 -0.3
2020
 -8.49 -9.72 -5.2 -4.6 -20.5 6.7 -1.5 4.1 -0.7 2.3 -1.8 -3.7 17.3 3.3
2019
 +14.53 +11.97 6.6 -0.4 1.1 5.9 -9.1 10.2 -2.1 -5.5 1.6 4.8 -0.9 3.1
2018
 -11.33 -13.00 6.1 -3.0 -0.1 4.5 -5.1 -7.4 1.8 -2.5 2.0 -8.4 3.1 -1.7
2017
 +34.81 +32.03 9.2 2.5 2.2 0.7 3.1 0.8 5.2 -0.4 -1.3 4.5 3.6 0.5
2016
 +0.70 -1.35 -8.7 3.3 12.0 0.1 -4.1 4.9 0.5 -3.0 2.5 -4.7 1.7 -2.2
2015
 -18.34 -18.93 -2.4 0.4 -0.2 6.9 -5.8 -1.0 -4.2 -12.1 -3.9 9.3 -5.5 0.2
2014
 +2.68 +1.91 -7.2 3.7 3.1 4.2 1.8 -1.1 4.0 -0.7 -4.4 -0.5 1.1 -0.6
2013
 -0.02 -1.50 0.6 -0.8 2.2 3.4 -6.3 -3.7 4.1 -6.9 7.7 3.4 -1.7 -1.1
2012
 +31.79 +29.53 14.3 4.1 0.0 0.9 -10.4 7.5 6.7 -0.1 2.1 -0.5 1.4 3.8
2011
 -18.67 -21.01 -0.8 -5.0 4.8 5.7 -1.7 -1.9 4.7 -9.5 -15.5 11.4 -3.9 -5.6
2010
 +24.58 +22.74 -6.2 2.1 4.5 4.4 -8.3 3.1 9.5 -1.2 8.7 3.2 -2.1 6.1
2009
 +67.94 +63.49 -8.5 -11.0 9.8 16.2 27.3 -2.5 16.7 -2.8 5.1 -2.5 8.4 3.4
2008
 -46.10 -46.15 -11.7 -0.2 5.1 6.3 1.3 -8.7 -0.6 -8.8 -13.4 -27.8 -3.3 8.2
2007
 +27.88 +22.87 4.6 -0.3 5.8 2.9 7.5 -0.4 -0.8 -1.7 11.4 6.2 -8.6 -0.4
2006
 +45.79 +42.18 6.6 1.5 2.7 6.4 -7.8 2.2 0.1 3.0 2.9 8.6 8.3 5.0
2005
 +14.25 +10.48 1.8 0.4 -1.2 0.6 1.1 2.9 7.1 -3.5 1.9 -4.0 2.5 4.4
2004
 +24.13 +20.22 5.5 2.4 -1.5 -4.4 -0.3 3.0 0.6 4.0 3.8 1.5 3.3 4.5
2003
 +45.02 +42.34 -3.0 -1.0 -2.2 3.7 12.5 3.2 9.1 2.8 3.1 6.8 0.0 3.7
2002
 -14.25 -16.24 13.0 -3.8 2.9 -3.0 0.5 -4.7 -6.8 1.6 -11.0 6.1 -3.2 -4.7
2001
 -20.90 -22.11 2.3 -2.7 -16.5 2.0 -3.1 1.7 -3.1 0.4 -20.8 3.6 5.8 12.1
2000
 -26.39 -28.80 -12.2 -10.9 2.6 1.7 -11.7 12.3 0.0 5.6 -10.6 0.0 -4.5 0.8
1999
 +52.65 +48.66 -2.0 -3.1 3.2 27.1 -2.5 16.0 -6.5 0.0 -4.7 6.6 3.1 10.8
1998
 -5.09 -6.60 -9.4 14.6 1.8 -9.8 -18.8 -13.4 0.0 -27.0 17.6 40.0 13.1 4.2
1997
 -44.41 -45.34 3.6 -5.5 -8.5 -1.2 4.7 -1.1 1.7 -21.4 5.0 -19.0 -0.8 -10.0
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