iShares MSCI Malaysia ETF (EWM) Performance
EWM total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.5% since Dec 31, 2025
- 1 year
- +7.9% total return
- 5 years
- +3.9% a year
- 10 years
- +2.2% a year
- Since first price
- +1.9% a year since 1996
EWM trailing returns vs SPY, QQQ, AGG
| Period | EWM total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −3.5% | −3.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −4.1% | −4.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −6.8% | −8.7% | +7.8% | +8.4% | −1.5% |
| YTD | −0.5% | −2.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +7.9% | +4.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +45.8%+13.4%/yr | +30.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +21.4%+3.9%/yr | +0.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +24.5%+2.2%/yr | −17.1% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +17.9%+1.1%/yr | −32.1% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +134.0%+4.3%/yr | +14.7% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| 30 years | +62.2%+1.6%/yr | −37.7% | +1,693.8%+10.1%/yr | — | — |
| Since inceptionMar 18, 1996 | +75.8%+1.9%/yr | −32.6% | — | — | — |
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: EWM vs SPY
From Mar 18, 1996: EWM grew to $17,579, SPY to $196,507.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EWM returns by calendar year
14 of 29 full years positive. Best 1999 (+106.0%), worst 1997 (−66.7%). 2026 is year to date.
EWM annual returns table
| Year | EWM | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −0.5% | −11.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +15.7% | −13.2% | +17.7% | +20.8% | +7.2% |
| 2024 | +19.5% | −12.4% | +24.9% | +25.6% | +1.3% |
| 2023 | −3.6% | −16.0% | +26.2% | +54.9% | +5.7% |
| 2022 | −6.0% | −22.2% | −18.2% | −32.6% | −13.0% |
| 2021 | −7.4% | −13.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +3.1% | −33.7% | +18.3% | +48.6% | +7.5% |
| 2019 | −1.4% | −11.5% | +31.2% | +39.0% | +8.5% |
| 2018 | −6.3% | −18.9% | −4.6% | −0.1% | +0.1% |
| 2017 | +24.2% | −3.7% | +21.7% | +32.7% | +3.6% |
| 2016 | −4.0% | −19.4% | +12.0% | +7.1% | +2.4% |
| 2015 | −20.6% | −32.9% | +1.2% | +9.4% | +0.5% |
| 2014 | −11.5% | −19.9% | +13.5% | +19.2% | +6.0% |
| 2013 | +7.8% | −16.1% | +32.3% | +36.6% | −2.0% |
| 2012 | +14.8% | −8.4% | +16.0% | +18.1% | +3.8% |
| 2011 | −2.6% | −22.3% | +1.9% | +3.4% | +7.7% |
| 2010 | +39.0% | −11.7% | +15.1% | +19.9% | +6.4% |
| 2009 | +49.4% | −13.3% | +26.4% | +54.7% | +3.0% |
| 2008 | −40.2% | −52.1% | −36.8% | −41.7% | +7.9% |
| 2007 | +44.6% | −18.1% | +5.1% | +19.0% | +6.6% |
| 2006 | +36.4% | −13.6% | +15.8% | +7.1% | +3.9% |
| 2005 | −0.6% | −11.1% | +4.8% | +1.6% | +2.3% |
| 2004 | +13.3% | −18.0% | +10.7% | +10.5% | +3.8% |
| 2003 | +32.5% | −10.4% | +28.2% | +49.7% | — |
| 2002 | −1.7% | −22.8% | −21.6% | −37.4% | — |
| 2001 | +4.4% | −31.0% | −11.8% | −33.3% | — |
| 2000 | −27.5% | −38.2% | −9.7% | −36.1% | — |
| 1999 | +106.0% | −30.2% | +20.4% | — | — |
| 1998 | −24.4% | −73.6% | +28.7% | — | — |
| 1997 | −66.7% | −70.5% | +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.
EWM largest drawdowns
Now 12.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 20, 1997 | −89.2% | Oct 7, 1998 | Oct 10, 2007 | 1.6 years | 10.6 years |
| Jan 14, 2008 | −52.1% | Oct 27, 2008 | Aug 27, 2010 | 9 months | 2.6 years |
| Aug 27, 2014 | −50.3% | Mar 19, 2020 | not yet | 5.6 years | 12.2 years so far |
| Jul 7, 2011 | −22.3% | Oct 3, 2011 | Sep 14, 2012 | 3 months | 1.2 years |
| May 14, 2013 | −16.1% | Aug 27, 2013 | May 19, 2014 | 3 months | 1.0 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
EWM risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 1996 |
|---|---|---|---|---|
| Annualized return | +14.0% | +5.5% | +2.4% | +1.9% |
| Volatility (annualized) | 12.9% | 15.1% | 14.5% | 32.5% |
| Sharpe ratio | 0.75 | 0.19 | 0.08 | — |
| Sortino ratio | 1.22 | 0.28 | 0.12 | — |
| Best month | +9.4% | +9.7% | +9.7% | +112.8% |
| Worst month | −8.9% | −9.5% | −9.5% | −34.3% |
| Best 12 months | +35.8% | +35.8% | +35.8% | +202.2% |
| Worst 12 months | −0.3% | −16.1% | −20.2% | −74.8% |
| Positive months | 64% | 55% | 51% | 52% |
| Beta vs S&P 500 | 0.24 | 0.46 | 0.46 | — |
| Correlation with S&P 500 | 0.23 | 0.48 | 0.49 | — |
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.
EWM rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 356 | −74.8% | +4.7% | +202.2% | 60% |
| 3-year (a year) | 332 | −38.3% | +3.9% | +39.5% | 63% |
| 5-year (a year) | 308 | −20.4% | +3.0% | +28.0% | 64% |
| 10-year (a year) | 248 | −4.4% | +4.1% | +20.0% | 71% |
Every holding period starting at a month-end since 1996. Returns for 3 years and longer are annualized.
EWM performance overview
iShares MSCI Malaysia ETF (EWM) returned +7.9% over the past year and +2.2% a year over ten years, with distributions reinvested. Since its first recorded price in 1996 it has returned +1.9% a year, turning $10,000 into about $17,579. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −89.2%, from Feb 20, 1997 to Oct 7, 1998, and it took 9.0 years to get back to the old high. EWM finished 14 of its 29 full calendar years with a gain; the best year was 1999 (+106.0%) and the worst 1997 (−66.7%). Volatility has been 32.5% a year.
Related: EWM chart, EWM holdings, EWM dividends. See the EWM overview for the latest quote and fund facts.
EWM performance FAQ
What is the EWM return over the past year?
EWM returned +7.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 4.0%.
What is the average annual return of EWM?
EWM has returned +3.9% a year over 5 years, +2.2% a year over 10 years, +1.9% a year since March 18, 1996 (total return, distributions reinvested).
How much would $10,000 invested in EWM be worth?
$10,000 invested in EWM at its first recorded close on March 18, 1996 would be worth about $17,579 on October 23, 2026 with distributions reinvested.
What was the worst year for EWM?
The worst calendar year was 1997, with a total return of −66.7%. The best was 1999 at +106.0%.
What is the biggest drawdown of EWM?
The largest peak-to-trough decline was −89.2% between February 20, 1997 and October 7, 1998. It recovered to the old high on October 10, 2007, 9.0 years after the bottom.
How volatile is EWM?
Over the past 3 years EWM had an annualized volatility of 12.9% and a Sharpe ratio of 0.75 (excess return over 1–3 month T-bills per unit of risk).