iShares MSCI Hong Kong ETF (EWH) Performance
EWH total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.9% since Dec 31, 2025
- 1 year
- +7.4% total return
- 5 years
- +1.3% a year
- 10 years
- +3.4% a year
- Since first price
- +4.9% a year since 1996
EWH trailing returns vs SPY, QQQ, AGG
| Period | EWH total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −3.0% | −3.0% | −1.0% | −5.0% | +0.9% |
| 3 months | −3.2% | −3.2% | +3.2% | +1.9% | −0.4% |
| 6 months | −5.1% | −6.6% | +7.8% | +8.4% | −1.5% |
| YTD | +3.9% | +2.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +7.4% | +2.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +48.4%+14.1%/yr | +29.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +6.6%+1.3%/yr | −12.0% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +40.3%+3.4%/yr | −0.5% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +127.0%+5.6%/yr | +38.3% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +184.0%+5.4%/yr | +48.5% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| 30 years | +278.4%+4.5%/yr | +49.2% | +1,693.8%+10.1%/yr | — | — |
| Since inceptionMar 18, 1996 | +328.1%+4.9%/yr | +66.4% | — | — | — |
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: EWH vs SPY
From Mar 18, 1996: EWH grew to $42,810, SPY to $196,507.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EWH returns by calendar year
17 of 29 full years positive. Best 1999 (+56.7%), worst 2008 (−50.3%). 2026 is year to date.
EWH annual returns table
| Year | EWH | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +3.9% | −13.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +34.5% | −17.3% | +17.7% | +20.8% | +7.2% |
| 2024 | +0.0% | −17.7% | +24.9% | +25.6% | +1.3% |
| 2023 | −13.9% | −26.6% | +26.2% | +54.9% | +5.7% |
| 2022 | −6.8% | −33.7% | −18.2% | −32.6% | −13.0% |
| 2021 | −3.5% | −16.7% | +28.7% | +27.4% | −1.8% |
| 2020 | +4.2% | −28.9% | +18.3% | +48.6% | +7.5% |
| 2019 | +10.7% | −17.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −8.8% | −19.7% | −4.6% | −0.1% | +0.1% |
| 2017 | +36.5% | −4.1% | +21.7% | +32.7% | +3.6% |
| 2016 | +1.3% | −13.3% | +12.0% | +7.1% | +2.4% |
| 2015 | −1.2% | −24.6% | +1.2% | +9.4% | +0.5% |
| 2014 | +3.3% | −11.6% | +13.5% | +19.2% | +6.0% |
| 2013 | +9.5% | −14.1% | +32.3% | +36.6% | −2.0% |
| 2012 | +29.3% | −14.9% | +16.0% | +18.1% | +3.8% |
| 2011 | −16.2% | −29.7% | +1.9% | +3.4% | +7.7% |
| 2010 | +24.1% | −15.2% | +15.1% | +19.9% | +6.4% |
| 2009 | +55.1% | −20.1% | +26.4% | +54.7% | +3.0% |
| 2008 | −50.3% | −61.3% | −36.8% | −41.7% | +7.9% |
| 2007 | +39.4% | −15.9% | +5.1% | +19.0% | +6.6% |
| 2006 | +29.3% | −15.9% | +15.8% | +7.1% | +3.9% |
| 2005 | +7.3% | −9.5% | +4.8% | +1.6% | +2.3% |
| 2004 | +23.7% | −22.8% | +10.7% | +10.5% | +3.8% |
| 2003 | +38.6% | −15.1% | +28.2% | +49.7% | — |
| 2002 | −17.4% | −32.3% | −21.6% | −37.4% | — |
| 2001 | −18.2% | −41.8% | −11.8% | −33.3% | — |
| 2000 | −17.6% | −25.2% | −9.7% | −36.1% | — |
| 1999 | +56.7% | −18.9% | +20.4% | — | — |
| 1998 | −9.0% | −48.9% | +28.7% | — | — |
| 1997 | −25.9% | −43.1% | +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.
EWH largest drawdowns
Now 10.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 7, 1997 | −66.4% | Aug 31, 1998 | Apr 4, 2006 | 1.1 years | 8.7 years |
| Oct 29, 2007 | −63.6% | Nov 20, 2008 | Jan 24, 2013 | 1.1 years | 5.2 years |
| May 28, 2021 | −42.7% | Apr 17, 2024 | Jan 27, 2026 | 2.9 years | 4.7 years |
| Apr 5, 2019 | −31.1% | Mar 23, 2020 | Jan 15, 2021 | 12 months | 1.8 years |
| May 22, 2015 | −29.5% | Feb 9, 2016 | May 10, 2017 | 9 months | 2.0 years |
| Jan 26, 2018 | −19.7% | Oct 29, 2018 | Mar 29, 2019 | 9 months | 1.2 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
EWH risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 1996 |
|---|---|---|---|---|
| Annualized return | +13.9% | +2.2% | +3.5% | +4.8% |
| Volatility (annualized) | 18.7% | 22.1% | 19.7% | 23.9% |
| Sharpe ratio | 0.55 | 0.04 | 0.16 | — |
| Sortino ratio | 0.97 | 0.07 | 0.24 | — |
| Best month | +15.3% | +24.3% | +24.3% | +38.4% |
| Worst month | −9.7% | −11.7% | −13.2% | −28.1% |
| Best 12 months | +49.4% | +49.4% | +49.4% | +119.2% |
| Worst 12 months | +0.0% | −32.7% | −32.7% | −59.9% |
| Positive months | 53% | 52% | 53% | 56% |
| Beta vs S&P 500 | 0.29 | 0.37 | 0.54 | — |
| Correlation with S&P 500 | 0.19 | 0.26 | 0.42 | — |
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.
EWH rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 356 | −59.9% | +8.6% | +119.2% | 61% |
| 3-year (a year) | 332 | −18.9% | +5.3% | +32.1% | 72% |
| 5-year (a year) | 308 | −12.0% | +4.8% | +28.8% | 77% |
| 10-year (a year) | 248 | −0.6% | +6.5% | +14.5% | 99% |
Every holding period starting at a month-end since 1996. Returns for 3 years and longer are annualized.
EWH performance overview
iShares MSCI Hong Kong ETF (EWH) returned +7.4% over the past year and +3.4% a year over ten years, with distributions reinvested. Since its first recorded price in 1996 it has returned +4.9% a year, turning $10,000 into about $42,810. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −66.4%, from Aug 7, 1997 to Aug 31, 1998, and it took 7.6 years to get back to the old high. EWH finished 17 of its 29 full calendar years with a gain; the best year was 1999 (+56.7%) and the worst 2008 (−50.3%). Volatility has been 23.9% a year.
Related: EWH chart, EWH holdings, EWH dividends. See the EWH overview for the latest quote and fund facts.
EWH performance FAQ
What is the EWH return over the past year?
EWH returned +7.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 2.4%.
What is the average annual return of EWH?
EWH has returned +1.3% a year over 5 years, +3.4% a year over 10 years, +4.9% a year since March 18, 1996 (total return, distributions reinvested).
How much would $10,000 invested in EWH be worth?
$10,000 invested in EWH at its first recorded close on March 18, 1996 would be worth about $42,810 on October 23, 2026 with distributions reinvested.
What was the worst year for EWH?
The worst calendar year was 2008, with a total return of −50.3%. The best was 1999 at +56.7%.
What is the biggest drawdown of EWH?
The largest peak-to-trough decline was −66.4% between August 7, 1997 and August 31, 1998. It recovered to the old high on April 4, 2006, 7.6 years after the bottom.
How volatile is EWH?
Over the past 3 years EWH had an annualized volatility of 18.7% and a Sharpe ratio of 0.55 (excess return over 1–3 month T-bills per unit of risk).