iShares MSCI Germany ETF (EWG) Holdings
EWG holdings summary
as of Oct 25, 2026- Holdings
- 50 positions listed
- Top 10 weight
- 62.6% of net assets
- Effective holdings
- 17 equal-weight equivalent
- Largest holding
- SAP 13.01% SAP SE
- Annual turnover
- 5.9% of the portfolio traded
All EWG holdings
| # | Name | ||||||
|---|---|---|---|---|---|---|---|
| 1 | SAP | SAP SE | Technology | 13.01% | $195.0M | — | — |
| 2 | SIE | Siemens Aktiengesellschaft | Industrials | 11.25% | $168.5M | — | — |
| 3 | ALV | Allianz SE VNA O.N. | Financial Services | 9.69% | $145.2M | — | — |
| 4 | ENR | Siemens Energy AG | Industrials | 5.71% | $85.5M | — | — |
| 5 | DTE | Deutsche Telekom AG | Communication Services | 5.36% | $80.3M | — | — |
| 6 | IFX | Infineon Technologies AG | Technology | 4.13% | $61.9M | — | — |
| 7 | MUV2 | Münchener Rück AG | Financial Services | 4.07% | $61.0M | — | — |
| 8 | DB1 | Deutsche Börse AG | Financial Services | 3.39% | $50.8M | — | — |
| 9 | DHL | Deutsche Post AG | Industrials | 3.15% | $47.2M | — | — |
| 10 | DBK | Deutsche Bank Aktiengesellschaft | Financial Services | 2.85% | $42.7M | — | — |
| 11 | RHM | Rheinmetall AG | Industrials | 2.73% | $40.9M | — | — |
| 12 | BAYN | Bayer AG NA | Healthcare | 2.71% | $40.6M | — | — |
| 13 | BAS | BASF SE | Basic Materials | 2.68% | $40.1M | — | — |
| 14 | EOAN | E.ON SE | Utilities | 2.52% | $37.7M | — | — |
| 15 | RWE | RWE AG | Utilities | 2.25% | $33.7M | — | — |
| 16 | MBG | Mercedes-Benz Group AG | Consumer Cyclical | 1.69% | $25.3M | — | — |
| 17 | ADS | adidas AG | Consumer Cyclical | 1.63% | $24.4M | — | — |
| 18 | CBK | Commerzbank AG | Financial Services | 1.25% | $18.7M | — | — |
| 19 | DTG | Daimler Truck Holding AG | Industrials | 1.17% | $17.5M | — | — |
| 20 | FRE | Fresenius SE & Co. KGaA | Healthcare | 1.13% | $17.0M | — | — |
| 21 | MRK | Merck KGaA | Healthcare | 1.13% | $16.9M | — | — |
| 22 | HEI | Heidelberg Materials AG | Basic Materials | 1.13% | $16.9M | — | — |
| 23 | BMW | Bayerische Motoren Werke Aktiengesellschaft | Consumer Cyclical | 1.09% | $16.3M | — | — |
| 24 | MTX | MTU Aero Engines AG | Industrials | 1.04% | $15.6M | — | — |
| 25 | HNR1 | Hannover Rück SE | Financial Services | 1.01% | $15.1M | — | — |
| 26 | VOW3 | Volkswagen AG VZO O.N. | Consumer Cyclical | 0.87% | $13.0M | — | — |
| 27 | SHL | Siemens Healthineers AG | Healthcare | 0.82% | $12.3M | — | — |
| 28 | SY1 | Symrise AG | Basic Materials | 0.80% | $12.0M | — | — |
| 29 | HEN3 | Henkel AG & Co. KGaA vz. (Pref Shares) | Consumer Defensive | 0.74% | $11.1M | — | — |
| 30 | VNA | Vonovia SE | Real Estate | 0.69% | $10.4M | — | — |
| 31 | G1A | GEA GROUP | Industrials | 0.63% | $9.4M | — | — |
| 32 | QIA | QIAGEN NV | Healthcare | 0.55% | $8.3M | — | — |
| 33 | TLX | Talanx AG | Financial Services | 0.47% | $7.0M | — | — |
| 34 | CON | Continental Aktiengesellschaft | Consumer Cyclical | 0.45% | $6.8M | — | — |
| 35 | BEI | Beiersdorf Aktiengesellschaft | Consumer Defensive | 0.45% | $6.7M | — | — |
| 36 | FME | Fresenius Medical Care AG & Co. KGaA | Healthcare | 0.44% | $6.6M | — | — |
| 37 | SRT3 | Sartorius Aktiengesellschaft | Healthcare | 0.43% | $6.4M | — | — |
| 38 | BNR | Brenntag SE | Basic Materials | 0.42% | $6.3M | — | — |
| 39 | HEN | Henkel AG & Co. KGaA | Consumer Defensive | 0.42% | $6.2M | — | — |
| 40 | KBX | Knorr-Bremse AG | Consumer Cyclical | 0.36% | $5.3M | — | — |
| 41 | EVK | Evonik Industries AG | Basic Materials | 0.34% | $5.0M | — | — |
| 42 | HOT | HOCHTIEF Aktiengesellschaft | Industrials | 0.33% | $4.9M | — | — |
| 43 | DHER | Delivery Hero SE | Consumer Cyclical | 0.32% | $4.8M | — | — |
| 44 | ZAL | Zalando SE | Consumer Cyclical | 0.31% | $4.6M | — | — |
| 45 | HAG | Hensoldt AG | Industrials | 0.30% | $4.5M | — | — |
| 46 | P911 | Porsche AG | Consumer Cyclical | 0.28% | $4.2M | — | — |
| 47 | NEM | Nemetschek AG O.N. | Technology | 0.27% | $4.1M | — | — |
| 48 | LHA | Deutsche Lufthansa AG | Industrials | 0.26% | $3.9M | — | — |
| 49 | PAH3 | Porsche Automobil Holding SE | Consumer Cyclical | 0.22% | $3.4M | — | — |
| 50 | RAA | RATIONAL Aktiengesellschaft | Industrials | 0.18% | $2.7M | — | — |
Weights as a percentage of net assets. Value held = weight × net assets ($1.50B). Market cap and P/E from each company's latest fundamentals (U.S.-listed stocks).
EWG sector breakdown
| Sector | Weight | Holdings | Largest |
|---|---|---|---|
| Industrials | 26.7% | 11 | SIE, ENR, DHL |
| Financial Services | 22.7% | 7 | ALV, MUV2, DB1 |
| Technology | 17.4% | 3 | SAP, IFX, NEM |
| Healthcare | 7.2% | 7 | BAYN, FRE, MRK |
| Consumer Cyclical | 7.2% | 10 | MBG, ADS, BMW |
| Communication Services | 5.4% | 1 | DTE |
| Basic Materials | 5.4% | 5 | BAS, HEI, SY1 |
| Utilities | 4.8% | 2 | EOAN, RWE |
| Consumer Defensive | 1.6% | 3 | HEN3, BEI, HEN |
| Real Estate | 0.7% | 1 | VNA |
Sum of the weights of the holdings in each sector.
EWG top industries
EWG overlap with other ETFs
| ETF | Fund | Overlap | Shared holdings | Expense ratio |
|---|---|---|---|---|
| VXUS | Vanguard Total International Stock ETF | 4.0% | 43 of 8,035 | 0.05% |
| DIA | SPDR Dow Jones Industrial Average ETF | 1.1% | 1 of 30 | 0.16% |
| SPY | SPDR S&P 500 ETF | 0.7% | 3 of 502 | 0.09% |
| VTI | Vanguard Total Stock Market ETF | 0.7% | 8 of 2,941 | 0.03% |
| IWM | iShares Russell 2000 ETF | 0.3% | 4 of 1,962 | 0.19% |
| QQQ | Invesco QQQ ETF | 0.0% | 0 of 101 | 0.17% |
Overlap = sum over shared holdings of the smaller of the two weights. 100% means identical portfolios.
About the EWG portfolio
iShares MSCI Germany ETF holds 50 positions. The ten largest make up 62.6% of the fund, so it behaves like a portfolio of about 17 equally weighted positions. The biggest positions are SAP SE (13.01%), Siemens Aktiengesellschaft (11.25%), Allianz SE VNA O.N. (9.69%), Siemens Energy AG (5.71%), Deutsche Telekom AG (5.36%).
By sector, Industrials is 26.7%, Financial Services is 22.7%, Technology is 17.4%. Holdings data is from the fund's latest portfolio as reported by EODHD on October 25, 2026; positions change as the fund rebalances.
Related: EWG chart, EWG performance, EWG dividends, EWG overview.
EWG holdings FAQ
How many holdings does EWG have?
EWG holds 50 positions as of October 25, 2026.
What are the top 10 holdings of EWG?
The ten largest holdings are SAP SE (13.01%), Siemens Aktiengesellschaft (11.25%), Allianz SE VNA O.N. (9.69%), Siemens Energy AG (5.71%), Deutsche Telekom AG (5.36%), Infineon Technologies AG (4.13%), Münchener Rück AG (4.07%), Deutsche Börse AG (3.39%), Deutsche Post AG (3.15%), Deutsche Bank Aktiengesellschaft (2.85%). Together they are 62.6% of the fund.
What percentage of EWG is SAP SE?
SAP SE is the largest holding at 13.01% of net assets, about $195.0M of the fund's $1.50B.
Which sector is the largest in EWG?
Industrials is the largest sector at 26.7%, followed by Financial Services (22.7%) and Technology (17.4%), based on the sectors of the individual holdings.
How concentrated is EWG?
The top 10 holdings are 62.6% of the fund. By the effective number of holdings (1 divided by the sum of squared weights) EWG behaves like a portfolio of about 17 equally weighted positions.