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

In the last 25 Years, the iShares MSCI Switzerland ETF (EWL) ETF obtained a 6.23% compound annual return, with a 16.79% standard deviation.

In 2022, the ETF granted a 1.63% dividend yield. If you are interested in getting periodic income, please refer to the iShares MSCI Switzerland ETF (EWL) 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 Switzerland ETF (EWL) ETF.

Returns and metrics are calculated based on monthly returns, assuming:
  • No fees or capital gain taxes
  • the reinvestment of dividends
ISHARES MSCI SWITZERLAND ETF (EWL) 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 (%)
-2.24 11.96 0.96 -18.86 2.92 5.43 6.86 8.77 7.18
US Inflation (%) -0.31 0.00 0.16 6.45 4.92 3.78 2.60 2.51 2.44
Infl. Adjusted
Return (%)
-1.94 11.97 0.80 -23.78 -1.90 1.59 4.15 6.11 4.62
Returns / Inflation rates over 1 year are annualized.
RISK INDICATORS
Standard Deviation (%) 18.77 17.54 15.46 13.54 15.71 16.82
Sharpe Ratio -1.08 0.13 0.28 0.46 0.49 0.19
Sortino Ratio -1.75 0.18 0.38 0.63 0.65 0.25
MAXIMUM DRAWDOWN
Drawdown Depth (%) -27.53 -27.53 -27.53 -27.53 -47.44 -47.44
Start (yyyy mm) 2022 01 2022 01 2022 01 2022 01 2007 11 2007 11
Bottom (yyyy mm) 2022 09 2022 09 2022 09 2022 09 2009 02 2009 02
Start to Bottom (# months) 9 9 9 9 16 16
Start to Recovery (# months) in progress
> 12
> 12
> 12
> 12
42
42
ROLLING PERIOD RETURNS - Annualized
Best Return (%) 58.51 28.05 21.97 12.75 9.26
Worst Return (%) -43.67 -12.32 -8.27 -0.36 4.86
% Positive Periods 67% 77% 88% 99% 100%
MONTHS
Positive 0 2 3 4 20 35 72 148 188
Negative 1 1 3 8 16 25 48 92 124
% Positive 0% 67% 50% 33% 56% 58% 60% 62% 60%
WITHDRAWAL RATES (WR)
Safe WR (%) 36.55 23.09 14.02 11.26 7.40
Perpetual WR (%) 0.00 1.57 3.98 5.76 4.42
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 Switzerland ETF (EWL) 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 SWITZERLAND ETF (EWL) ETF
Monthly correlations as of 31 December 2022
Swipe left to see all data
Correlation vs EWL
 
Asset Class 1 Year 5 Years 10 Years Since
Jan 1997
US Total Stock Market
VTI
0.90
0.85
0.80
0.74
US Large Cap
SPY
0.90
0.86
0.81
0.75
US Small Cap
IJR
0.83
0.71
0.63
0.62
US REITs
VNQ
0.91
0.78
0.66
0.57
US Technology
QQQ
0.87
0.80
0.75
0.52
Preferred Stocks
PFF
0.78
0.70
0.63
0.44
EAFE Stocks
EFA
0.96
0.89
0.89
0.86
World All Countries
VT
0.95
0.88
0.86
0.83
Emerging Markets
EEM
0.72
0.70
0.66
0.68
Europe
VGK
0.95
0.90
0.90
0.87
Pacific
VPL
0.94
0.80
0.76
0.70
Latin America
FLLA
0.45
0.57
0.53
0.61
US Total Bond Market
BND
0.77
0.49
0.41
0.17
Long Term Treasuries
TLT
0.64
0.19
0.12
-0.06
US Cash
BIL
0.25
-0.09
-0.06
-0.02
TIPS
TIP
0.80
0.61
0.48
0.21
Invest. Grade Bonds
LQD
0.84
0.66
0.56
0.34
High Yield Bonds
HYG
0.85
0.73
0.70
0.61
International Bonds
BNDX
0.81
0.48
0.37
0.17
Emerg. Market Bonds
EMB
0.88
0.74
0.66
0.56
Gold
GLD
0.50
0.37
0.20
0.18
Commodities
DBC
0.27
0.44
0.37
0.28

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 Switzerland ETF (EWL) ETF: Dividend Yield page.

An investment of 1000$, since January 1998, now would be worth 4530.88$, with a total return of 353.09% (6.23% annualized).

The Inflation Adjusted Capital now would be 2462.40$, with a net total return of 146.24% (3.67% annualized).
An investment of 1000$, since January 1997, now would be worth 6062.15$, with a total return of 506.22% (7.18% annualized).

The Inflation Adjusted Capital now would be 3239.44$, with a net total return of 223.94% (4.62% annualized).

Drawdowns

Worst drawdowns since January 1998.

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Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-47.44% Nov 2007 Feb 2009 16 Apr 2011 26 42
-40.22% Aug 1998 Feb 2003 55 Dec 2004 22 77
-27.53% Jan 2022 Sep 2022 9 in progress 3 12
-22.07% Jun 2011 Sep 2011 4 Jan 2013 16 20
-18.06% Jun 2015 Feb 2016 9 May 2017 15 24
-13.21% Feb 2020 Mar 2020 2 Jul 2020 4 6
-13.07% Feb 2018 Dec 2018 11 Jun 2019 6 17
-8.38% Sep 2021 Sep 2021 1 Dec 2021 3 4
-8.06% Jun 2014 Dec 2014 7 Apr 2015 4 11
-6.71% Sep 2020 Oct 2020 2 Nov 2020 1 3
-5.57% Mar 2005 Jun 2005 4 Aug 2005 2 6
-5.41% May 2007 Aug 2007 4 Oct 2007 2 6
-4.40% May 2006 Jun 2006 2 Aug 2006 2 4
-4.08% May 2013 Jun 2013 2 Sep 2013 3 5
-3.72% Jan 2005 Jan 2005 1 Feb 2005 1 2
-3.25% Jan 2021 Feb 2021 2 Apr 2021 2 4
-3.00% Jan 2014 Jan 2014 1 Feb 2014 1 2
-2.58% Jun 1998 Jun 1998 1 Jul 1998 1 2
-2.51% Feb 2007 Feb 2007 1 Apr 2007 2 3
-1.43% Oct 2017 Oct 2017 1 Dec 2017 2 3

Worst drawdowns since January 1997.

Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-47.44% Nov 2007 Feb 2009 16 Apr 2011 26 42
-40.22% Aug 1998 Feb 2003 55 Dec 2004 22 77
-27.53% Jan 2022 Sep 2022 9 in progress 3 12
-22.07% Jun 2011 Sep 2011 4 Jan 2013 16 20
-18.06% Jun 2015 Feb 2016 9 May 2017 15 24
-13.21% Feb 2020 Mar 2020 2 Jul 2020 4 6
-13.07% Feb 2018 Dec 2018 11 Jun 2019 6 17
-8.84% Aug 1997 Aug 1997 1 Dec 1997 4 5
-8.38% Sep 2021 Sep 2021 1 Dec 2021 3 4
-8.06% Jun 2014 Dec 2014 7 Apr 2015 4 11
-6.71% Sep 2020 Oct 2020 2 Nov 2020 1 3
-5.57% Mar 2005 Jun 2005 4 Aug 2005 2 6
-5.41% May 2007 Aug 2007 4 Oct 2007 2 6
-4.40% May 2006 Jun 2006 2 Aug 2006 2 4
-4.08% May 2013 Jun 2013 2 Sep 2013 3 5
-3.72% Jan 2005 Jan 2005 1 Feb 2005 1 2
-3.25% Jan 2021 Feb 2021 2 Apr 2021 2 4
-3.00% Jan 2014 Jan 2014 1 Feb 2014 1 2
-2.58% Jun 1998 Jun 1998 1 Jul 1998 1 2
-2.51% Feb 2007 Feb 2007 1 Apr 2007 2 3

Rolling Returns ( more details)

iShares MSCI Switzerland ETF (EWL) ETF: annualized rolling and average returns

Swipe left to see all data
Rolling
Period
Return (*) Negative
Periods
Average (%) Best (%) Worst (%)
1 Year
8.44 58.51
Mar 2009 - Feb 2010
-43.67
Mar 2008 - Feb 2009
32.89%
2 Years
7.47 37.49
Mar 2009 - Feb 2011
-23.66
Mar 2007 - Feb 2009
26.64%
3 Years
6.99 28.05
Apr 2003 - Mar 2006
-12.32
Apr 2000 - Mar 2003
23.47%
5 Years
6.83 21.97
Mar 2009 - Feb 2014
-8.27
Apr 1998 - Mar 2003
11.86%
7 Years
7.17 13.65
Apr 2003 - Mar 2010
0.40
Jun 1998 - May 2005
0.00%
10 Years
7.41 12.75
Apr 2003 - Mar 2013
-0.36
Mar 1999 - Feb 2009
0.52%
15 Years
7.15 10.50
Feb 2003 - Jan 2018
4.49
Oct 2007 - Sep 2022
0.00%
20 Years
6.95 9.26
Jan 2002 - Dec 2021
4.86
Jan 1999 - Dec 2018
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 Switzerland ETF (EWL) ETF: Rolling Returns page.

Seasonality

iShares MSCI Switzerland ETF (EWL) 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%
-2.79
20%
-0.25
60%
0.98
60%
0.88
40%
1.00
80%
3.51
80%
-0.29
80%
-3.47
20%
0.79
60%
3.83
80%
1.81
60%
 Capital Growth on monthly avg returns
100
100.50
97.70
97.46
98.41
99.28
100.27
103.78
103.48
99.89
100.68
104.54
106.43
Best 5.7
2019
3.8
2019
2.4
2022
4.7
2021
5.3
2021
6.6
2019
6.5
2018
3.0
2020
0.6
2019
7.0
2021
9.7
2022
6.8
2021
Worst -6.4
2022
-7.0
2020
-6.7
2020
-5.5
2022
-2.3
2018
-7.0
2022
-1.0
2019
-6.6
2022
-8.4
2021
-5.2
2020
-0.9
2021
-5.1
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
0.51
60%
-0.37
50%
0.89
70%
2.17
80%
0.99
50%
-0.23
50%
2.38
80%
-0.79
50%
-1.47
40%
0.39
50%
1.82
70%
1.29
70%
 Capital Growth on monthly avg returns
100
100.51
100.13
101.02
103.21
104.23
103.99
106.46
105.62
104.08
104.48
106.38
107.75
Best 7.1
2013
6.9
2014
4.9
2016
4.7
2021
5.3
2021
6.6
2019
6.5
2018
3.0
2020
6.6
2013
7.0
2021
9.7
2022
6.8
2021
Worst -6.4
2022
-7.0
2020
-6.7
2020
-5.5
2022
-2.5
2013
-7.0
2022
-4.4
2014
-6.7
2015
-8.4
2021
-5.2
2020
-2.8
2015
-5.1
2018
Monthly Seasonality over the period Jan 2013 - 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
-0.97
46%
-0.01
54%
1.30
69%
2.48
69%
0.95
58%
-0.31
42%
1.38
65%
-1.18
50%
-0.97
54%
1.48
69%
1.52
65%
2.72
81%
 Capital Growth on monthly avg returns
100
99.03
99.02
100.31
102.80
103.78
103.45
104.88
103.64
102.64
104.15
105.73
108.61
Best 7.1
2013
9.0
1998
8.5
2009
11.0
2003
11.8
2009
7.4
1997
10.5
2009
6.2
2009
7.6
1997
17.7
1998
9.7
2022
11.8
2000
Worst -14.6
2009
-11.3
2009
-10.2
2001
-5.5
2022
-10.7
2010
-7.0
2022
-13.9
2002
-18.6
1998
-12.2
2011
-12.6
2008
-9.3
2008
-5.1
2018
Monthly Seasonality over the period Jan 1997 - Dec 2022

Monthly/Yearly Returns

iShares MSCI Switzerland ETF (EWL) 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
188 Positive Months (60%) - 124 Negative Months (40%)
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
-18.86 -23.78 -6.4 -2.8 2.4 -5.5 -1.8 -7.0 4.7 -6.6 -7.8 4.4 9.7 -2.2
2021
+20.19 +12.29 -1.5 -1.8 2.3 4.7 5.3 1.6 3.3 1.2 -8.4 7.0 -0.9 6.8
2020
+11.79 +10.29 0.2 -7.0 -6.7 4.3 3.9 3.4 4.0 3.0 -1.6 -5.2 9.2 5.1
2019
+31.58 +28.64 5.7 3.8 2.3 2.3 -0.7 6.6 -1.0 0.8 0.6 2.3 0.8 4.5
2018
-9.19 -10.89 4.5 -6.1 -1.6 -1.0 -2.3 0.4 6.5 0.2 -0.2 -4.6 0.3 -5.1
2017
+23.36 +20.81 4.3 1.0 3.0 3.9 5.1 0.3 0.5 -0.5 2.1 -1.4 1.3 1.7
2016
-2.50 -4.48 -6.1 -2.8 4.9 3.0 -0.2 -0.3 1.9 -0.1 1.2 -5.0 -2.3 4.0
2015
+0.29 -0.44 0.2 4.9 -0.3 4.0 2.5 -5.3 4.1 -6.7 -3.9 3.9 -2.8 0.5
2014
-1.73 -2.47 -3.0 6.9 0.4 2.0 0.7 -0.4 -4.4 2.5 -3.3 -0.4 2.5 -4.5
2013
+25.70 +23.84 7.1 0.2 2.1 3.9 -2.5 -1.6 4.2 -1.7 6.6 3.0 0.2 2.2
2012
+21.85 +19.76 3.1 4.4 2.8 -0.8 -10.4 5.9 1.6 2.1 3.4 2.4 3.9 2.4
2011
-7.90 -10.55 -1.3 3.8 -1.6 10.1 1.8 -4.3 -1.1 -6.3 -12.2 8.5 -4.9 1.2
2010
+14.44 +12.76 -4.4 2.8 5.5 -5.1 -10.7 3.7 6.2 1.6 5.8 3.1 -3.4 10.4
2009
+22.07 +18.83 -14.6 -11.3 8.5 6.5 11.8 -0.9 10.5 6.2 4.5 -1.6 3.3 1.0
2008
-27.21 -27.28 -3.9 1.8 1.8 -0.2 0.3 -6.7 -0.5 -3.2 -8.2 -12.6 -9.3 11.7
2007
+5.51 +1.37 2.4 -2.5 2.5 6.7 -0.1 -2.7 -2.4 -0.3 4.6 2.4 -0.7 -4.0
2006
+29.96 +26.74 5.9 -0.8 3.3 6.3 -4.2 -0.2 3.5 2.9 1.7 2.3 3.8 2.5
2005
+12.97 +9.24 -3.7 6.3 -4.1 -0.7 0.4 -1.1 4.9 1.9 2.1 1.3 2.8 2.8
2004
+17.29 +13.59 2.6 0.1 -2.1 0.6 1.7 0.4 -4.1 0.1 2.0 3.8 7.5 4.1
2003
+33.44 +30.97 -3.7 -5.6 0.4 11.0 5.5 -0.8 2.6 1.2 4.5 2.5 5.6 7.1
2002
-11.17 -13.23 -4.9 2.7 7.2 2.4 4.5 -3.5 -13.9 -1.4 -7.8 2.7 5.8 -3.4
2001
-24.85 -26.00 -2.5 -4.6 -10.2 1.1 -1.4 -3.9 -2.6 0.3 -7.7 1.6 1.7 0.8
2000
+7.18 +3.67 -10.9 1.3 7.4 -4.0 5.9 1.2 0.4 -0.2 -5.1 2.1 -0.8 11.8
1999
-3.55 -6.07 -1.1 -3.3 -2.7 2.8 -5.0 2.4 -0.4 -0.4 2.4 0.8 -0.4 1.6
1998
+22.28 +20.34 3.6 9.0 5.0 -0.3 6.2 -2.6 5.0 -18.6 -8.3 17.7 4.6 3.6
1997
+33.80 +31.56 3.1 -0.5 1.5 6.5 8.5 7.4 2.4 -8.8 7.6 -2.5 1.7 4.0
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