iShares MSCI Sweden ETF (EWD) Performance
EWD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +4.8% since Dec 31, 2025
- 1 year
- +7.3% total return
- 5 years
- +4.0% a year
- 10 years
- +9.3% a year
- Since first price
- +8.4% a year since 1996
EWD trailing returns vs SPY, QQQ, AGG
| Period | EWD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.8% | −1.8% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.4% | +1.4% | +3.2% | +1.9% | −0.4% |
| 6 months | −1.8% | −4.1% | +7.8% | +8.4% | −1.5% |
| YTD | +4.8% | +2.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +7.3% | +3.6% | +14.4% | +15.9% | −1.1% |
| 3 years | +76.4%+20.8%/yr | +59.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +21.6%+4.0%/yr | +3.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +144.3%+9.3%/yr | +77.7% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +224.8%+8.2%/yr | +96.2% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +245.8%+6.4%/yr | +74.8% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| 30 years | +884.3%+7.9%/yr | +211.3% | +1,693.8%+10.1%/yr | — | — |
| Since inceptionMar 18, 1996 | +1,076.0%+8.4%/yr | +261.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: EWD vs SPY
From Mar 18, 1996: EWD grew to $117,602, SPY to $196,507.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EWD returns by calendar year
18 of 29 full years positive. Best 2003 (+67.4%), worst 2008 (−46.9%). 2026 is year to date.
EWD annual returns table
| Year | EWD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +4.8% | −14.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +36.5% | −17.8% | +17.7% | +20.8% | +7.2% |
| 2024 | −3.9% | −14.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +25.1% | −17.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −27.8% | −41.7% | −18.2% | −32.6% | −13.0% |
| 2021 | +22.8% | −9.3% | +28.7% | +27.4% | −1.8% |
| 2020 | +22.3% | −37.2% | +18.3% | +48.6% | +7.5% |
| 2019 | +21.7% | −13.9% | +31.2% | +39.0% | +8.5% |
| 2018 | −12.8% | −23.3% | −4.6% | −0.1% | +0.1% |
| 2017 | +21.9% | −7.8% | +21.7% | +32.7% | +3.6% |
| 2016 | +2.4% | −14.7% | +12.0% | +7.1% | +2.4% |
| 2015 | −4.5% | −17.2% | +1.2% | +9.4% | +0.5% |
| 2014 | −8.4% | −16.6% | +13.5% | +19.2% | +6.0% |
| 2013 | +23.5% | −12.6% | +32.3% | +36.6% | −2.0% |
| 2012 | +24.4% | −19.7% | +16.0% | +18.1% | +3.8% |
| 2011 | −16.8% | −36.2% | +1.9% | +3.4% | +7.7% |
| 2010 | +35.9% | −20.9% | +15.1% | +19.9% | +6.4% |
| 2009 | +55.4% | −29.3% | +26.4% | +54.7% | +3.0% |
| 2008 | −46.9% | −62.6% | −36.8% | −41.7% | +7.9% |
| 2007 | −1.3% | −21.0% | +5.1% | +19.0% | +6.6% |
| 2006 | +43.7% | −21.4% | +15.8% | +7.1% | +3.9% |
| 2005 | +10.3% | −9.1% | +4.8% | +1.6% | +2.3% |
| 2004 | +35.3% | −12.8% | +10.7% | +10.5% | +3.8% |
| 2003 | +67.4% | −15.2% | +28.2% | +49.7% | — |
| 2002 | −29.5% | −49.1% | −21.6% | −37.4% | — |
| 2001 | −23.0% | −52.8% | −11.8% | −33.3% | — |
| 2000 | −22.6% | −43.4% | −9.7% | −36.1% | — |
| 1999 | +63.0% | −10.7% | +20.4% | — | — |
| 1998 | +12.1% | −41.4% | +28.7% | — | — |
| 1997 | +10.3% | −18.9% | +33.5% | — | — |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
EWD largest drawdowns
Now 7.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Mar 3, 2000 | −74.3% | Oct 9, 2002 | Apr 19, 2006 | 2.6 years | 6.1 years |
| Jul 12, 2007 | −68.1% | Mar 5, 2009 | Apr 21, 2011 | 1.6 years | 3.8 years |
| Aug 13, 2021 | −42.3% | Sep 26, 2022 | Feb 18, 2025 | 1.1 years | 3.5 years |
| Jul 20, 1998 | −41.4% | Oct 8, 1998 | Aug 23, 1999 | 3 months | 1.1 years |
| Feb 12, 2020 | −37.2% | Mar 23, 2020 | Jul 17, 2020 | 40 days | 5 months |
| May 2, 2011 | −36.2% | Sep 23, 2011 | Mar 7, 2013 | 5 months | 1.8 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
EWD risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 1996 |
|---|---|---|---|---|
| Annualized return | +18.7% | +5.6% | +9.0% | +8.4% |
| Volatility (annualized) | 19.5% | 22.9% | 20.7% | 24.2% |
| Sharpe ratio | 0.76 | 0.19 | 0.41 | — |
| Sortino ratio | 1.28 | 0.28 | 0.61 | — |
| Best month | +14.5% | +14.5% | +15.2% | +23.4% |
| Worst month | −11.0% | −14.2% | −15.8% | −25.6% |
| Best 12 months | +37.0% | +37.0% | +76.0% | +94.4% |
| Worst 12 months | −3.9% | −35.6% | −35.6% | −54.4% |
| Positive months | 64% | 60% | 58% | 57% |
| Beta vs S&P 500 | 0.92 | 1.09 | 1.04 | — |
| Correlation with S&P 500 | 0.59 | 0.75 | 0.77 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
EWD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 356 | −54.4% | +12.9% | +94.4% | 65% |
| 3-year (a year) | 332 | −29.5% | +7.6% | +43.2% | 76% |
| 5-year (a year) | 308 | −10.4% | +5.6% | +37.1% | 86% |
| 10-year (a year) | 248 | +0.1% | +7.1% | +16.5% | 100% |
Every holding period starting at a month-end since 1996. Returns for 3 years and longer are annualized.
EWD performance overview
iShares MSCI Sweden ETF (EWD) returned +7.3% over the past year and +9.3% a year over ten years, with distributions reinvested. Since its first recorded price in 1996 it has returned +8.4% a year, turning $10,000 into about $117,602. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −74.3%, from Mar 3, 2000 to Oct 9, 2002, and it took 3.5 years to get back to the old high. EWD finished 18 of its 29 full calendar years with a gain; the best year was 2003 (+67.4%) and the worst 2008 (−46.9%). Volatility has been 24.2% a year.
Related: EWD chart, EWD holdings, EWD dividends. See the EWD overview for the latest quote and fund facts.
EWD performance FAQ
What is the EWD return over the past year?
EWD returned +7.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 3.6%.
What is the average annual return of EWD?
EWD has returned +4.0% a year over 5 years, +9.3% a year over 10 years, +8.4% a year since March 18, 1996 (total return, distributions reinvested).
How much would $10,000 invested in EWD be worth?
$10,000 invested in EWD at its first recorded close on March 18, 1996 would be worth about $117,602 on October 23, 2026 with distributions reinvested.
What was the worst year for EWD?
The worst calendar year was 2008, with a total return of −46.9%. The best was 2003 at +67.4%.
What is the biggest drawdown of EWD?
The largest peak-to-trough decline was −74.3% between March 3, 2000 and October 9, 2002. It recovered to the old high on April 19, 2006, 3.5 years after the bottom.
How volatile is EWD?
Over the past 3 years EWD had an annualized volatility of 19.5% and a Sharpe ratio of 0.76 (excess return over 1–3 month T-bills per unit of risk).