iShares MSCI Italy ETF (EWI) ETF Analysis

The fund's expense ratio is 0.50%, and it provides a dividend yield of 1.23%. EWI's top holdings include UniCredit SpA, Enel SpA, and Intesa Sanpaolo, reflecting a significant allocation to the financial services and utilities sectors.

iShares MSCI Italy ETF (EWI) ETF — Price, Holdings & Analysis

The iShares MSCI Italy ETF (EWI) provides exposure to the Italian equity market, tracking an index of Italian stocks. With $0.60 billion in assets under management, EWI offers a focused approach to investing in Italy. The fund's expense ratio is 0.50%, and it provides a dividend yield of 1.23%. EWI's top holdings include UniCredit SpA, Enel SpA, and Intesa Sanpaolo, reflecting a significant allocation to the financial services and utilities sectors.

ETF Overview

The iShares MSCI Italy ETF seeks to track the investment results of an index composed of Italian equities.

The iShares MSCI Italy ETF (EWI) aims to replicate the investment results of an index composed of Italian equities. This ETF offers investors a way to target exposure to the Italian stock market through a single investment vehicle. EWI's portfolio consists of 27 holdings, providing concentrated exposure to the Italian economy. The fund's top holdings include UniCredit SpA (16.41%), Enel SpA (13.33%), and Intesa Sanpaolo (13.08%), indicating a heavy weighting towards the financial sector. Sector allocation shows a significant concentration in Financial Services (48.1%) and Utilities (19.6%), followed by Industrials (10.8%) and Consumer Cyclical (9.8%). This sector focus makes EWI suitable for investors seeking exposure to these specific areas of the Italian economy. With a beta of 1.08, EWI's price tends to move similarly to the broader market. Past performance does not guarantee future results.

Risk Metrics

EWI's risk profile is influenced by its concentrated exposure to the Italian equity market, with 95.1% of its holdings based in Italy. This geographic concentration makes the fund susceptible to economic and political events specific to Italy. The fund's sector allocation also presents a risk, with a significant portion of its assets invested in Financial Services (48.1%) and Utilities (19.6%). A downturn in these sectors could negatively impact EWI's performance. With only 27 holdings, the fund is subject to concentration risk, as the performance of a few key stocks can significantly affect its overall returns. The expense ratio of 0.50% can create a drag on returns, especially in periods of lower market performance. Past performance does not guarantee future results.

Expense Ratio

0.50%

What does EWI hold?

Holding	Weight
UniCredit SpA (UCG.MI)	16.41%
Enel SpA (ENEL.MI)	13.33%
Intesa Sanpaolo (ISP.MI)	13.08%
Eni SpA (ENI.MI)	4.71%
Prysmian SpA (PRY.MI)	4.51%
Generali (G.MI)	4.40%
Ferrari NV (RACE.MI)	4.38%
Leonardo SpA Az nom Post raggruppamento (LDO.MI)	4.17%
BPER Banca SpA (BPE.MI)	3.30%
Banca Monte dei Paschi di Siena (BMPS.MI)	2.81%

How Is the Fund Allocated?

Sector	Weight
Financial Services	48.1%
Utilities	19.6%
Industrials	10.8%
Consumer Cyclical	9.8%
Energy	6.6%
Communication Services	2.2%
Healthcare	1.3%
Consumer Defensive	1.0%
Basic Materials	0.6%
Cash & Others	0.0%

Country	Weight
Italy	95.1%
Netherlands	2.5%
Luxembourg	2.0%
Other	0.4%

Dividend Yield

1.23%

Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio

iShares Russell 2000 ETF (IWM) (Equity) — 0.19% expense ratio
iShares MSCI Emerging Markets ETF (EEM) (Equity) — 0.72% expense ratio
iShares MSCI EAFE ETF (EFA) (Equity) — 0.32% expense ratio
iShares Russell Mid-Cap ETF (IWR) (Equity) — 0.18% expense ratio
iShares MSCI Emerging Markets Small-Cap ETF (EEMS) (Equity) — 0.72% expense ratio
iShares FinTech Active ETF (BPAY) (Equity) — 0.66% expense ratio

Risk Metrics

Beta: 1.08

Questions & Answers

What is EWI and what does it track?

The iShares MSCI Italy ETF (EWI) is designed to track the investment results of an index composed of Italian equities. This means it aims to mirror the performance of the Italian stock market.

EWI provides investors with a convenient way to gain exposure to a basket of Italian companies without having to purchase individual stocks.

What is the expense ratio for EWI?

The expense ratio for the iShares MSCI Italy ETF (EWI) is 0.50%. This means that for every $1000 invested in the fund, $5.00 is used to cover the fund's operating expenses.

While this is a factor to consider, it's important to weigh it against the potential benefits of investing in the Italian market.

What are the top holdings in EWI?

As of 2026-03-15, the top holdings in the iShares MSCI Italy ETF (EWI) are concentrated in a few key Italian companies. The largest holding is UniCredit SpA, with a weight of 16.41%.

Enel SpA is the second-largest holding, representing 13.33% of the fund. Intesa Sanpaolo is the third-largest holding, comprising 13.08% of the fund's assets. These top three holdings constitute a significant portion of EWI's portfolio.

Is EWI a good long-term investment?

Whether EWI is a suitable long-term investment depends on an individual's investment goals, risk tolerance, and outlook on the Italian economy. EWI provides targeted exposure to Italian equities, which can offer diversification benefits.

However, it also carries risks associated with investing in a single country. The fund's expense ratio of 0.50% and dividend yield of 1.23% should also be considered.

How does EWI compare to similar ETFs?

EWI is unique in its focus on Italian equities. While other ETFs may offer broader European or global exposure, EWI provides a targeted approach to investing in Italy. Its expense ratio is 0.50%.

The fund's AUM is $0.60 billion, which may be smaller than some broader European equity ETFs.

Does EWI pay dividends?

Yes, the iShares MSCI Italy ETF (EWI) does pay dividends. As of 2026-03-15, the fund has a dividend yield of 1.23%.

This means that investors can expect to receive a portion of the fund's earnings in the form of dividend payments. The dividend yield may fluctuate over time depending on the performance of the underlying holdings and the fund's distribution policy.