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

In the last 25 Years, the iShares MSCI Sweden ETF (EWD) ETF obtained a 6.58% compound annual return, with a 25.19% standard deviation.

In 2022, the ETF granted a 2.58% dividend yield. If you are interested in getting periodic income, please refer to the iShares MSCI Sweden ETF (EWD) ETF: Dividend Yield page.

The ETF is related to the following investment themes:

  • Asset Class: Equity
  • Size: Large Cap
  • Style: Blend
  • Region: Developed Europe
  • Country: U.S.

Historical Returns as of Dec 31, 2022

Historical returns and Metrics of iShares MSCI Sweden ETF (EWD) ETF.

Returns and metrics are calculated based on monthly returns, assuming:
  • No fees or capital gain taxes
  • the reinvestment of dividends
ISHARES MSCI SWEDEN ETF (EWD) 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 (%)
-2.91 19.32 6.78 -27.79 2.75 2.87 4.49 9.72 6.73
US Inflation (%) -0.31 0.00 0.16 6.45 4.92 3.78 2.60 2.51 2.44
Infl. Adjusted
Return (%)
-2.61 19.33 6.61 -32.16 -2.07 -0.88 1.84 7.03 4.19
Returns / Inflation rates over 1 year are annualized.
RISK INDICATORS
Standard Deviation (%) 31.85 26.79 23.55 19.03 22.95 25.06
Sharpe Ratio -0.92 0.08 0.08 0.20 0.37 0.11
Sortino Ratio -1.43 0.11 0.10 0.28 0.52 0.15
MAXIMUM DRAWDOWN
Drawdown Depth (%) -39.48 -40.26 -40.26 -40.26 -63.06 -69.56
Start (yyyy mm) 2022 01 2021 08 2021 08 2021 08 2007 05 2000 03
Bottom (yyyy mm) 2022 09 2022 09 2022 09 2022 09 2009 02 2002 09
Start to Bottom (# months) 9 14 14 14 22 31
Start to Recovery (# months) in progress
> 12
> 17
> 17
> 17
47
73
ROLLING PERIOD RETURNS - Annualized
Best Return (%) 94.27 43.20 37.07 16.46 10.59
Worst Return (%) -54.42 -29.44 -10.30 0.12 2.59
% Positive Periods 61% 74% 83% 100% 100%
MONTHS
Positive 0 2 3 5 20 32 66 133 172
Negative 1 1 3 7 16 28 54 107 140
% Positive 0% 67% 50% 42% 56% 53% 55% 55% 55%
WITHDRAWAL RATES (WR)
Safe WR (%) 38.75 21.60 12.40 15.23 7.15
Perpetual WR (%) 0.00 0.00 1.81 6.57 4.02
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 Sweden ETF (EWD) 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 SWEDEN ETF (EWD) ETF
Monthly correlations as of 31 December 2022
Swipe left to see all data
Correlation vs EWD
 
Asset Class 1 Year 5 Years 10 Years Since
Jan 1997
US Total Stock Market
VTI
0.89
0.86
0.82
0.81
US Large Cap
SPY
0.90
0.87
0.82
0.79
US Small Cap
IJR
0.81
0.79
0.72
0.74
US REITs
VNQ
0.86
0.72
0.59
0.52
US Technology
QQQ
0.86
0.79
0.75
0.71
Preferred Stocks
PFF
0.82
0.72
0.65
0.40
EAFE Stocks
EFA
0.94
0.93
0.91
0.86
World All Countries
VT
0.93
0.91
0.88
0.86
Emerging Markets
EEM
0.64
0.76
0.70
0.75
Europe
VGK
0.95
0.94
0.92
0.88
Pacific
VPL
0.87
0.86
0.78
0.67
Latin America
FLLA
0.48
0.59
0.55
0.66
US Total Bond Market
BND
0.75
0.44
0.36
0.08
Long Term Treasuries
TLT
0.54
0.03
-0.02
-0.18
US Cash
BIL
0.24
-0.15
-0.09
-0.05
TIPS
TIP
0.75
0.53
0.45
0.11
Invest. Grade Bonds
LQD
0.84
0.65
0.56
0.27
High Yield Bonds
HYG
0.91
0.82
0.77
0.64
International Bonds
BNDX
0.82
0.45
0.35
0.12
Emerg. Market Bonds
EMB
0.88
0.77
0.69
0.54
Gold
GLD
0.27
0.23
0.16
0.13
Commodities
DBC
0.22
0.54
0.46
0.32

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 Sweden ETF (EWD) ETF: Dividend Yield page.

An investment of 1000$, since January 1998, now would be worth 4923.14$, with a total return of 392.31% (6.58% annualized).

The Inflation Adjusted Capital now would be 2675.57$, with a net total return of 167.56% (4.02% annualized).
An investment of 1000$, since January 1997, now would be worth 5435.04$, with a total return of 443.50% (6.73% annualized).

The Inflation Adjusted Capital now would be 2904.34$, with a net total return of 190.43% (4.19% annualized).

Drawdowns

Worst drawdowns since January 1998.

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Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-69.56% Mar 2000 Sep 2002 31 Mar 2006 42 73
-63.06% May 2007 Feb 2009 22 Mar 2011 25 47
-40.26% Aug 2021 Sep 2022 14 in progress 3 17
-33.41% May 2011 Sep 2011 5 Jul 2013 22 27
-25.84% Jun 1998 Sep 1998 4 Jul 1999 10 14
-22.26% Feb 2018 Mar 2020 26 Jul 2020 4 30
-20.56% Jun 2014 Jan 2016 20 May 2017 16 36
-8.18% May 2006 Jul 2006 3 Oct 2006 3 6
-5.35% Sep 2020 Oct 2020 2 Nov 2020 1 3
-4.77% Jan 2014 Jan 2014 1 Feb 2014 1 2
-4.57% Oct 2017 Dec 2017 3 Jan 2018 1 4
-4.15% Feb 2007 Feb 2007 1 Mar 2007 1 2
-3.47% Aug 2013 Aug 2013 1 Sep 2013 1 2
-3.18% Jan 2000 Jan 2000 1 Feb 2000 1 2
-2.04% Jun 2021 Jun 2021 1 Jul 2021 1 2
-0.92% Aug 1999 Aug 1999 1 Sep 1999 1 2
-0.18% Oct 2013 Oct 2013 1 Nov 2013 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
-69.56% Mar 2000 Sep 2002 31 Mar 2006 42 73
-63.06% May 2007 Feb 2009 22 Mar 2011 25 47
-40.26% Aug 2021 Sep 2022 14 in progress 3 17
-33.41% May 2011 Sep 2011 5 Jul 2013 22 27
-25.84% Jun 1998 Sep 1998 4 Jul 1999 10 14
-22.26% Feb 2018 Mar 2020 26 Jul 2020 4 30
-20.56% Jun 2014 Jan 2016 20 May 2017 16 36
-11.37% Oct 1997 Dec 1997 3 Mar 1998 3 6
-8.18% May 2006 Jul 2006 3 Oct 2006 3 6
-6.83% Aug 1997 Aug 1997 1 Sep 1997 1 2
-5.35% Sep 2020 Oct 2020 2 Nov 2020 1 3
-4.96% Apr 1997 Apr 1997 1 Jun 1997 2 3
-4.77% Jan 2014 Jan 2014 1 Feb 2014 1 2
-4.57% Oct 2017 Dec 2017 3 Jan 2018 1 4
-4.15% Feb 2007 Feb 2007 1 Mar 2007 1 2
-3.47% Aug 2013 Aug 2013 1 Sep 2013 1 2
-3.18% Jan 2000 Jan 2000 1 Feb 2000 1 2
-2.04% Jun 2021 Jun 2021 1 Jul 2021 1 2
-0.92% Aug 1999 Aug 1999 1 Sep 1999 1 2
-0.72% Feb 1997 Feb 1997 1 Mar 1997 1 2

Rolling Returns ( more details)

iShares MSCI Sweden ETF (EWD) ETF: annualized rolling and average returns

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Rolling
Period
Return (*) Negative
Periods
Average (%) Best (%) Worst (%)
1 Year
10.92 94.27
Mar 2009 - Feb 2010
-54.42
Mar 2008 - Feb 2009
39.20%
2 Years
9.04 63.29
Mar 2009 - Feb 2011
-37.17
Oct 2000 - Sep 2002
29.07%
3 Years
7.83 43.20
Apr 2003 - Mar 2006
-29.44
Apr 2000 - Mar 2003
26.35%
5 Years
6.95 37.07
Oct 2002 - Sep 2007
-10.30
Oct 1997 - Sep 2002
17.00%
7 Years
7.50 19.00
Oct 2002 - Sep 2009
0.48
Apr 2013 - Mar 2020
0.00%
10 Years
7.68 16.46
Apr 2003 - Mar 2013
0.12
Mar 1999 - Feb 2009
0.00%
15 Years
7.35 13.67
Oct 2002 - Sep 2017
1.77
Oct 2007 - Sep 2022
0.00%
20 Years
7.17 10.59
Nov 2001 - Oct 2021
2.59
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 Sweden ETF (EWD) ETF: Rolling Returns page.

Seasonality

iShares MSCI Sweden ETF (EWD) 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
0.50
60%
-3.38
40%
-1.62
60%
1.71
60%
1.07
60%
-1.07
40%
5.14
80%
-2.33
20%
-1.98
40%
1.42
60%
4.57
60%
1.62
60%
 Capital Growth on monthly avg returns
100
100.50
97.10
95.53
97.16
98.19
97.14
102.13
99.75
97.78
99.16
103.70
105.38
Best 6.3
2018
3.3
2021
6.0
2021
7.2
2020
10.0
2020
9.1
2019
11.7
2022
5.4
2020
4.0
2019
8.1
2022
15.2
2020
6.1
2021
Worst -8.9
2022
-10.4
2022
-15.8
2020
-7.6
2022
-9.4
2019
-14.2
2022
-5.3
2019
-11.6
2022
-9.4
2022
-10.5
2018
-5.9
2021
-3.1
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
0.63
60%
-0.24
60%
0.07
70%
2.03
80%
0.49
50%
-1.82
30%
3.74
80%
-1.70
30%
-0.47
50%
0.42
40%
2.19
60%
0.90
50%
 Capital Growth on monthly avg returns
100
100.63
100.38
100.45
102.49
102.99
101.12
104.90
103.11
102.63
103.05
105.31
106.26
Best 6.3
2018
7.0
2015
7.3
2016
7.2
2020
10.0
2020
9.1
2019
11.7
2022
5.4
2020
7.2
2013
8.1
2022
15.2
2020
6.1
2021
Worst -8.9
2022
-10.4
2022
-15.8
2020
-7.6
2022
-9.4
2019
-14.2
2022
-5.3
2019
-11.6
2022
-9.4
2022
-10.5
2018
-5.9
2021
-4.9
2014
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
0.05
58%
1.28
54%
0.76
65%
3.89
69%
-0.52
50%
-0.87
31%
2.27
62%
-2.19
38%
-0.76
58%
0.82
54%
2.46
65%
2.49
58%
 Capital Growth on monthly avg returns
100
100.05
101.34
102.10
106.08
105.52
104.60
106.98
104.64
103.85
104.70
107.28
109.96
Best 9.3
2001
21.7
2000
10.8
2009
23.4
2009
10.6
2009
11.8
1999
18.8
2009
5.4
2020
19.4
2010
15.5
2011
18.7
2002
17.1
1999
Worst -15.6
2009
-13.3
2001
-21.2
2001
-9.0
2002
-13.9
2010
-16.2
2008
-15.9
2002
-15.6
1998
-17.3
2002
-25.6
2008
-17.4
2000
-13.6
2002
Monthly Seasonality over the period Jan 1997 - Dec 2022

Monthly/Yearly Returns

iShares MSCI Sweden ETF (EWD) 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
-27.79 -32.16 -8.9 -10.4 2.7 -7.6 1.6 -14.2 11.7 -11.6 -9.4 8.1 13.7 -2.9
2021
+22.86 +14.78 2.2 3.3 6.0 4.2 4.4 -2.0 4.3 -1.0 -6.4 6.8 -5.9 6.1
2020
+22.26 +20.62 -2.7 -5.1 -15.8 7.2 10.0 3.2 9.0 5.4 -1.1 -4.3 15.2 3.1
2019
+21.74 +19.02 5.6 1.1 0.2 6.6 -9.4 9.1 -5.3 -3.0 4.0 7.0 0.6 5.0
2018
-12.76 -14.40 6.3 -5.8 -1.3 -1.9 -1.3 -1.5 6.0 -1.4 3.0 -10.5 -0.7 -3.1
2017
+21.88 +19.37 6.2 -0.6 4.2 4.9 2.8 1.9 0.7 1.7 3.3 -0.8 -3.7 -0.1
2016
+2.37 +0.29 -6.2 0.3 7.3 2.6 -2.2 -3.8 2.5 1.9 1.8 -5.3 -0.2 4.5
2015
-4.54 -5.23 2.4 7.0 -3.6 1.6 -0.2 -3.2 0.8 -5.3 -4.3 3.9 0.4 -3.5
2014
-8.41 -9.10 -4.8 6.9 0.4 0.7 0.3 -1.9 -3.3 -0.2 -2.8 -0.5 1.9 -4.9
2013
+23.48 +21.65 6.2 0.9 0.5 2.0 -1.2 -5.9 11.0 -3.5 7.2 -0.2 0.6 4.8
2012
+24.57 +22.44 6.8 9.5 -1.4 -2.3 -13.4 8.8 5.8 -0.1 3.9 -2.1 3.4 5.6
2011
-16.73 -19.13 3.2 -0.8 2.6 8.9 -2.4 -5.7 -5.7 -10.8 -14.1 15.5 -4.0 -1.5
2010
+35.89 +33.89 -3.3 4.8 6.6 4.5 -13.9 2.3 14.2 -7.0 19.4 0.8 -2.8 10.1
2009
+55.33 +51.21 -15.6 -4.0 10.8 23.4 10.6 -0.4 18.8 4.2 1.0 1.3 3.2 -2.8
2008
-46.95 -46.99 -9.4 4.1 3.8 4.4 1.9 -16.2 -1.0 -4.2 -15.9 -25.6 -6.2 9.3
2007
-1.31 -5.18 1.6 -4.1 6.7 10.6 -1.3 -1.5 -0.9 -3.2 6.9 -2.6 -8.3 -3.6
2006
+43.72 +40.16 5.7 -0.9 8.3 5.8 -7.0 -0.1 -1.1 3.5 4.9 6.2 4.3 8.5
2005
+10.32 +6.67 -5.0 5.7 -3.3 -1.4 1.7 -1.0 5.9 2.0 3.3 -5.4 0.8 7.6
2004
+35.31 +31.04 4.1 4.9 -2.3 -0.4 2.1 3.8 -6.3 2.5 8.9 0.9 13.9 -0.2
2003
+67.37 +64.29 -0.7 -0.3 -2.4 20.6 5.5 -0.9 4.9 2.5 3.4 8.8 3.1 10.2
2002
-29.47 -31.11 -7.8 1.6 3.3 -9.0 0.1 -3.0 -15.9 0.8 -17.3 14.7 18.7 -13.6
2001
-23.04 -24.21 9.3 -13.3 -21.2 13.5 -5.0 -5.9 2.6 -7.7 -14.3 4.7 16.1 3.0
2000
-22.30 -24.85 -3.2 21.7 -1.6 -3.1 -2.1 -4.0 -4.0 0.9 -11.2 -4.9 -17.4 8.9
1999
+63.15 +58.88 5.2 -1.5 0.0 3.4 -2.7 11.8 2.2 -0.9 1.1 7.8 8.3 17.1
1998
+12.00 +10.23 2.4 9.1 7.4 6.9 2.2 -1.6 -3.5 -15.6 -7.6 5.9 8.4 0.3
1997
+10.40 +8.55 1.8 -0.7 1.8 -5.0 5.2 9.2 5.5 -6.8 12.7 -9.1 0.7 -3.1
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