iShares MSCI Italy ETF (EWI): Historical Returns

Data Source: from January 1997 to May 2023 (~26 years)
Consolidated Returns as of 31 May 2023
Live Update: Jun 06 2023
Category: Stocks
ETF: iShares MSCI Italy ETF (EWI)
ETF • LIVE PERFORMANCE (USD currency)
0.95%
1 Day
Jun 06 2023
3.64%
Current Month
June 2023

In the last 25 Years, the iShares MSCI Italy ETF (EWI) ETF obtained a 1.70% compound annual return, with a 24.10% standard deviation.

In 2022, the ETF granted a 3.79% dividend yield. If you are interested in getting periodic income, please refer to the iShares MSCI Italy ETF (EWI) ETF: Dividend Yield page.

The ETF is related to the following investment themes:

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

Historical Returns as of May 31, 2023

Historical returns and Metrics of iShares MSCI Italy ETF (EWI) ETF.

Returns and metrics are calculated based on monthly returns, assuming:
  • No fees or capital gain taxes
  • the reinvestment of dividends
ISHARES MSCI ITALY ETF (EWI) ETF
Portfolio Metrics
Data Source: 1 January 1997 - 31 May 2023 (~26 years)
Swipe left to see all data
Metrics as of May 31, 2023
1M 3M 6M 1Y 3Y 5Y 10Y 20Y MAX
(~26Y)
Portfolio Return (%) -6.25 -1.10 8.29 7.70 13.08 3.07 4.18 2.34 4.11
US Inflation (%) 0.00 0.84 1.90 3.79 5.77 3.81 2.68 2.55 2.49
Infl. Adjusted Return (%) -6.25 -1.92 6.27 3.77 6.91 -0.72 1.46 -0.20 1.58
Waiting for updates, inflation of May 2023 is temporarily set to 0%. Returns / Inflation rates over 1 year are annualized.
RISK INDICATORS
Standard Deviation (%) 29.56 25.83 25.26 22.32 24.14 24.32
Sharpe Ratio 0.15 0.47 0.07 0.15 0.05 0.00
Sortino Ratio 0.23 0.74 0.10 0.22 0.07 0.01
MAXIMUM DRAWDOWN
Drawdown Depth (%) -23.14 -32.87 -32.87 -35.53 -66.05 -66.05
Start (yyyy mm) 2022 06 2021 11 2021 11 2014 05 2007 11 2007 11
Bottom (yyyy mm) 2022 09 2022 09 2022 09 2016 06 2012 05 2012 05
Start to Bottom (# months) 4 11 11 26 55 55
Start to Recovery (# months) in progress
8
18
18
45
> 187
> 187
ROLLING PERIOD RETURNS - Annualized
Best Return (%) 86.90 30.28 24.95 15.25 4.02
Worst Return (%) -57.86 -22.98 -19.26 -7.54 -0.48
% Positive Periods 57% 55% 61% 67% 96%
MONTHS
Positive 0 2 3 6 20 34 65 133 178
Negative 1 1 3 6 16 26 55 107 139
% Positive 0% 67% 50% 50% 56% 57% 54% 55% 56%
WITHDRAWAL RATES (WR)
Safe WR (%) 43.15 19.39 11.33 5.24 6.41
Perpetual WR (%) 6.47 0.00 1.44 0.00 1.56
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 May 31, 2023

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.

Monthly correlations of iShares MSCI Italy ETF (EWI) ETF vs the main Asset Classes, over different timeframes. Columns are sortable (click on table header to sort).

ISHARES MSCI ITALY ETF (EWI) ETF
Monthly correlations as of 31 May 2023
Swipe left to see all data
Correlation vs EWI
 
Asset Class 1 Year 5 Years 10 Years Since
Jan 1997
US Total Stock Market
VTI
0.81
0.77
0.69
0.70
US Large Cap
SPY
0.81
0.77
0.69
0.69
US Small Cap
IJR
0.77
0.77
0.62
0.65
US REITs
VNQ
0.82
0.69
0.50
0.53
US Technology
QQQ
0.61
0.61
0.56
0.53
Preferred Stocks
PFF
0.68
0.65
0.54
0.43
EAFE Stocks
EFA
0.95
0.93
0.88
0.85
World All Countries
VT
0.89
0.85
0.79
0.79
Emerging Markets
EEM
0.74
0.77
0.68
0.67
Europe
VGK
0.97
0.95
0.90
0.90
Pacific
VPL
0.87
0.84
0.72
0.62
Latin America
FLLA
0.74
0.70
0.62
0.64
US Total Bond Market
BND
0.69
0.40
0.28
0.14
Long Term Treasuries
TLT
0.56
0.03
-0.06
-0.14
US Cash
BIL
0.20
-0.06
-0.03
0.02
TIPS
TIP
0.71
0.42
0.31
0.17
Invest. Grade Bonds
LQD
0.76
0.61
0.49
0.32
High Yield Bonds
HYG
0.82
0.74
0.67
0.61
International Bonds
BNDX
0.67
0.40
0.27
0.12
Emerg. Market Bonds
EMB
0.84
0.77
0.65
0.54
Gold
GLD
0.56
0.19
0.11
0.11
Commodities
DBC
0.87
0.61
0.49
0.40

Capital Growth as of May 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 Italy ETF (EWI) ETF: Dividend Yield page.

An investment of 1000$, since June 1998, now would be worth 1524.34$, with a total return of 52.43% (1.70% annualized).

The Inflation Adjusted Capital now would be 818.04$, with a net total return of -18.20% (-0.80% annualized).
An investment of 1000$, since January 1997, now would be worth 2896.55$, with a total return of 189.65% (4.11% annualized).

The Inflation Adjusted Capital now would be 1514.33$, with a net total return of 51.43% (1.58% annualized).

Drawdowns

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.

ISHARES MSCI ITALY ETF (EWI) ETF
Drawdown periods
Updated to May 2023

Worst drawdowns since June 1998.

Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-66.05% Nov 2007 May 2012 55 in progress 132 187
-41.48% Feb 2001 Sep 2002 20 Jun 2004 21 41
-18.72% Aug 1998 Sep 1998 2 Dec 1998 3 5
-14.94% Jan 1999 Jul 1999 7 Dec 1999 5 12
-13.06% Mar 2000 Sep 2000 7 Dec 2000 3 10
-6.64% May 2007 Jul 2007 3 Oct 2007 3 6
-6.50% Jan 2000 Jan 2000 1 Feb 2000 1 2
-6.28% Jun 1998 Jun 1998 1 Jul 1998 1 2
-6.12% Oct 2005 Oct 2005 1 Jan 2006 3 4
-5.96% Mar 2005 May 2005 3 Aug 2005 3 6
-3.47% Jul 2004 Jul 2004 1 Sep 2004 2 3
-1.84% Jan 2005 Jan 2005 1 Feb 2005 1 2
-1.70% Feb 2007 Feb 2007 1 Mar 2007 1 2
-1.16% May 2006 May 2006 1 Jul 2006 2 3
-0.49% Sep 2006 Sep 2006 1 Oct 2006 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
-66.05% Nov 2007 May 2012 55 in progress 132 187
-41.48% Feb 2001 Sep 2002 20 Jun 2004 21 41
-18.72% Aug 1998 Sep 1998 2 Dec 1998 3 5
-14.94% Jan 1999 Jul 1999 7 Dec 1999 5 12
-13.06% Mar 2000 Sep 2000 7 Dec 2000 3 10
-8.08% Feb 1997 Feb 1997 1 Jun 1997 4 5
-6.64% May 2007 Jul 2007 3 Oct 2007 3 6
-6.50% Jan 2000 Jan 2000 1 Feb 2000 1 2
-6.49% Oct 1997 Oct 1997 1 Dec 1997 2 3
-6.28% Jun 1998 Jun 1998 1 Jul 1998 1 2
-6.12% Oct 2005 Oct 2005 1 Jan 2006 3 4
-5.96% Mar 2005 May 2005 3 Aug 2005 3 6
-4.39% Aug 1997 Aug 1997 1 Sep 1997 1 2
-3.47% Jul 2004 Jul 2004 1 Sep 2004 2 3
-1.86% Apr 1998 Apr 1998 1 May 1998 1 2
-1.84% Jan 2005 Jan 2005 1 Feb 2005 1 2
-1.70% Feb 2007 Feb 2007 1 Mar 2007 1 2
-1.16% May 2006 May 2006 1 Jul 2006 2 3
-0.49% Sep 2006 Sep 2006 1 Oct 2006 1 2

Rolling Returns ( more details)

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

ISHARES MSCI ITALY ETF (EWI) ETF
Annualized Rolling Returns
Data Source: from January 1997 to May 2023
Swipe left to see all data
Rolling
Period
Annualized Return (%) Negative
Periods
Average Latest Best Worst
1 Year
6.45 7.70 86.90
Jun 1997 - May 1998
-57.86
Mar 2008 - Feb 2009
43.14%
2 Years
4.16 -2.47 42.25
Jan 1997 - Dec 1998
-36.92
Mar 2007 - Feb 2009
39.12%
3 Years
3.14 13.08 30.28
Oct 2002 - Sep 2005
-22.98
Jun 2007 - May 2010
45.39%
5 Years
2.30 3.07 24.95
Oct 2002 - Sep 2007
-19.26
Jun 2007 - May 2012
38.76%
7 Years
2.14 6.37 12.18
Mar 1997 - Feb 2004
-8.99
Jan 2008 - Dec 2014
30.34%
10 Years
1.32 4.18 15.25
May 1997 - Apr 2007
-7.54
Dec 2006 - Nov 2016
33.33%
15 Years
0.48 -1.83 4.51
Oct 2002 - Sep 2017
-4.36
Oct 2007 - Sep 2022
39.13%
20 Years
2.08 2.34 4.02
Jun 1997 - May 2017
-0.48
Apr 2000 - Mar 2020
3.85%
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 Italy ETF (EWI) ETF: Rolling Returns page.

Seasonality

iShares MSCI Italy ETF (EWI) 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
2.63
40%
-0.73
40%
-3.41
60%
0.18
80%
0.55
60%
0.04
40%
1.37
80%
-2.06
40%
-2.36
40%
1.32
60%
7.23
80%
1.48
60%
 Capital Growth on monthly avg returns
100
102.63
101.88
98.41
98.58
99.12
99.16
100.52
98.45
96.12
97.40
104.43
105.98
Best 12.4
2023
5.5
2021
5.3
2021
4.0
2023
6.2
2020
9.9
2019
3.4
2018
4.1
2020
2.5
2019
12.0
2022
25.2
2020
5.8
2021
Worst -3.7
2021
-6.7
2022
-23.8
2020
-7.1
2022
-8.3
2019
-13.9
2022
-1.9
2019
-9.3
2018
-7.1
2022
-9.4
2018
-6.0
2021
-3.4
2018
Monthly Seasonality over the period Jun 2018 - May 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
1.05
40%
-0.13
40%
0.75
70%
1.73
90%
-0.62
50%
-1.88
30%
2.51
80%
-1.40
50%
-0.74
40%
1.71
60%
2.76
50%
0.86
50%
 Capital Growth on monthly avg returns
100
101.05
100.92
101.67
103.43
102.79
100.86
103.39
101.94
101.19
102.92
105.76
106.67
Best 12.4
2023
8.5
2015
8.8
2017
4.4
2018
6.2
2020
9.9
2019
10.1
2013
4.1
2020
8.3
2013
12.0
2022
25.2
2020
12.3
2016
Worst -12.2
2016
-6.7
2022
-23.8
2020
-7.1
2022
-9.8
2018
-13.9
2022
-6.0
2014
-9.3
2018
-7.1
2022
-9.4
2018
-6.0
2021
-8.0
2014
Monthly Seasonality over the period Jun 2013 - May 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
0.46
52%
-0.89
48%
0.92
59%
2.29
74%
-0.71
48%
-0.66
38%
1.03
58%
-1.52
50%
-0.58
50%
1.35
65%
2.05
65%
3.31
65%
 Capital Growth on monthly avg returns
100
100.46
99.57
100.48
102.79
102.06
101.38
102.42
100.86
100.28
101.63
103.72
107.15
Best 12.4
2023
15.0
2000
19.4
1998
18.8
2009
14.0
2009
14.5
2012
18.2
2010
11.3
2012
16.2
1997
13.6
2011
25.2
2020
15.6
1999
Worst -16.7
2009
-13.9
2009
-23.8
2020
-8.3
2012
-15.7
2012
-13.9
2022
-10.3
2011
-16.1
1998
-15.0
2001
-23.5
2008
-15.6
2010
-8.0
2014
Monthly Seasonality over the period Jan 1997 - May 2023

Monthly/Yearly Returns

iShares MSCI Italy ETF (EWI) 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 - May 2023
178 Positive Months (56%) - 139 Negative Months (44%)
MONTHLY RETURNS TABLE
Jan 1997 - May 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
+10.17 +7.79 12.4 -0.9 1.4 4.0 -6.3
2022
-14.10 -19.31 -1.2 -6.7 -2.4 -7.1 5.1 -13.9 2.3 -6.1 -7.1 12.0 15.5 -1.7
2021
+14.41 +6.89 -3.7 5.5 5.3 0.3 6.0 -2.2 0.3 1.4 -3.9 5.8 -6.0 5.8
2020
+1.67 +0.31 -2.4 -5.4 -23.8 1.8 6.2 8.3 2.7 4.1 -5.3 -6.4 25.2 3.9
2019
+26.97 +24.13 8.1 3.7 2.4 1.8 -8.3 9.9 -1.9 -0.4 2.5 4.7 0.1 2.8
2018
-17.20 -18.75 11.0 -6.1 1.4 4.4 -9.8 -2.0 3.4 -9.3 2.1 -9.4 1.4 -3.4
2017
+28.73 +26.07 -1.9 -0.4 8.8 2.8 5.4 1.6 7.1 1.8 3.5 -1.3 0.2 -1.3
2016
-8.56 -10.41 -12.2 -6.5 8.2 4.2 -4.4 -8.2 3.1 0.9 -2.4 2.4 -3.6 12.3
2015
+3.12 +2.38 0.8 8.5 -0.5 3.2 1.9 -2.6 4.0 -4.4 -3.2 3.4 -2.8 -4.2
2014
-10.92 -11.59 -0.3 6.8 6.7 1.9 -2.0 -0.3 -6.0 -2.3 -1.8 -5.0 -0.1 -8.0
2013
+19.05 +17.29 5.6 -12.4 -5.1 11.4 1.2 -9.5 10.1 0.3 8.3 11.0 -2.2 2.4
2012
+15.44 +13.46 8.0 3.2 -2.2 -8.3 -15.7 14.5 -6.8 11.3 2.6 3.7 2.2 6.0
2011
-24.10 -26.29 10.7 2.1 0.4 8.4 -7.5 -3.4 -10.3 -13.8 -12.7 13.6 -5.6 -4.7
2010
-14.22 -15.48 -9.3 -4.1 7.4 -8.1 -14.8 -1.8 18.2 -8.9 13.1 6.6 -15.6 9.0
2009
+22.02 +18.79 -16.7 -13.9 7.5 18.8 14.0 -3.9 8.4 8.5 6.9 -6.0 2.9 0.0
2008
-46.83 -46.88 -7.7 -1.9 -0.9 5.9 0.9 -11.3 -3.2 -4.6 -13.3 -23.5 -5.8 8.5
2007
+3.74 -0.33 1.2 -1.7 2.3 6.6 -0.6 -2.5 -3.7 0.6 3.0 3.8 -2.2 -2.6
2006
+32.47 +29.19 5.4 1.1 2.4 5.3 -1.2 0.7 0.6 4.1 -0.5 3.5 5.9 1.5
2005
+1.89 -1.48 -1.8 2.8 -0.2 -5.0 -0.9 1.4 3.8 1.5 1.4 -6.1 1.1 4.4
2004
+33.10 +28.91 3.0 1.0 -3.7 1.1 1.1 4.2 -3.5 0.2 5.3 6.2 7.5 7.3
2003
+41.82 +39.20 0.2 2.7 -7.3 13.4 11.7 -1.5 -0.8 -3.5 4.1 5.0 7.0 6.5
2002
-6.98 -9.14 -2.8 0.2 6.1 0.4 -0.8 -0.5 -8.9 0.2 -12.6 6.2 10.0 -2.4
2001
-27.61 -28.72 1.0 -9.5 -6.3 4.7 -7.7 -4.2 2.5 -1.5 -15.0 3.6 1.7 1.3
2000
+9.86 +6.26 -6.5 15.0 -7.0 -6.5 5.3 5.6 -3.8 -1.6 -5.0 2.4 4.0 10.4
1999
+0.79 -1.84 -4.4 -3.1 3.2 -1.7 -4.6 0.8 -5.9 2.5 2.0 -2.0 0.0 15.6
1998
+47.96 +45.61 7.8 4.0 19.4 -1.9 5.7 -6.3 9.6 -16.1 -3.1 7.5 10.5 7.5
1997
+36.76 +34.47 8.3 -8.1 1.3 0.0 0.8 9.8 5.6 -4.4 16.2 -6.5 2.1 9.3