iShares MSCI Belgium ETF

10-Year Study

EWK.US · · US · ETF

Executive Summary: iShares MSCI Belgium ETF has compounded at 6.4% annually over the last 10 years, with a maximum drawdown of 33.0% and an annualized volatility of 20.0%.

1Y CAGR
+24.0%
3Y CAGR
+17.7%
5Y CAGR
+5.8%
10Y CAGR
+6.4%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
33.0%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
0.21
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
0.34
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
17.7%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +35.4%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2018 · -20.4%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
80%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
20267.31.8-8.57.7————————7.8%
20251.73.92.17.13.81.9-1.15.90.50.63.90.735.4%
2024-3.8-0.03.4-1.04.8-3.46.03.33.5-5.0-3.5-3.30.1%
20235.1-1.01.51.3-8.93.36.7-3.6-5.0-3.58.84.17.5%
2022-3.7-3.01.4-6.0-0.8-7.41.1-7.5-9.48.511.62.5-14.0%
2021-1.3-0.25.36.15.1-1.8-0.41.4-5.34.2-5.25.112.8%
2020-3.5-10.4-16.27.04.13.44.12.5-3.3-7.421.63.10.0%
20198.21.82.33.9-6.54.63.3-2.22.01.31.93.525.9%
20188.4-4.2-2.2-2.5-3.1-0.73.6-4.1-2.0-9.11.6-7.1-20.4%
20171.70.35.03.64.3-1.76.1-0.92.80.8-1.31.023.7%
2016———1.52.0-2.32.50.13.8-5.1-4.33.20.9%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 20.0%. The dominant macroeconomic risk driver is VEA.US, accounting for 29.4% of variance. Idiosyncratic stock-specific factors contribute 7.1%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-0110147.230150870859
2016-05-0110345.357371701522
2016-06-0110109.730879012057
2016-07-0110366.619094774858
2016-08-0110372.371410263879
2016-09-0110766.222985961438
2016-10-0110218.223917982177
2016-11-019778.645074852917
2016-12-0110088.614784178948
2017-01-0110261.40269120988
2017-02-0110295.989398264112
2017-03-0110808.746432108117
2017-04-0111200.559212442478
2017-05-0111678.802353352365
2017-06-0111484.170210287179
2017-07-0112187.627424710201
2017-08-0112082.119764664765
2017-09-0112416.263761868702
2017-10-0112521.771421914138
2017-11-0112357.648395176793
2017-12-0112479.466418127804
2018-01-0113530.246985495429
2018-02-0112960.330867361798
2018-03-0112675.336401234928
2018-04-0112354.735830372229
2018-05-0111974.791751616474
2018-06-0111894.62340537077
2018-07-0112323.789829323703
2018-08-0111822.100541737054
2018-09-0111586.401234927476
2018-10-0110528.703326149007
2018-11-0110697.923341294345
2018-12-019933.229451855304
2019-01-0110747.801013572553
2019-02-0110936.24395642803
2019-03-0111185.632317819072
2019-04-0111617.128793615659
2019-05-0110863.284208073632
2019-06-0111361.259975534456
2019-07-0111733.19450107765
2019-08-0111472.81120754937
2019-09-0111702.175685909013
2019-10-0111853.410613386148
2019-11-0112080.29941166191
2019-12-0112508.00955321256
2020-01-0112075.857750334944
2020-02-0110823.16362789072
2020-03-019069.435544940876
2020-04-019708.306634822626
2020-05-0110102.740723481098
2020-06-0110447.07869750102
2020-07-0110870.565620085046
2020-08-0111142.30791635114
2020-09-0110775.761635696395
2020-10-019982.597425292714
2020-11-0112134.545931146968
2020-12-0112512.815285140096
2021-01-0112352.405778528575
2021-02-0112332.30908137706
2021-03-0112982.757616356963
2021-04-0113773.446146676764
2021-05-0114474.864565736589
2021-06-0114214.918156928992
2021-07-0114160.817265684162
2021-08-0114356.7600629114
2021-09-0113602.478592648687
2021-10-0114169.045261257063
2021-11-0113428.3800314557
2021-12-0114118.876332498397
2022-01-0113594.978738276928
2022-02-0113187.656550358246
2022-03-0113368.599638841964
2022-04-0112562.838585658532
2022-05-0112467.37927418885
2022-06-0111549.921360750277
2022-07-0111675.816974427682
2022-08-0110801.756276577154
2022-09-019786.58181394536
2022-10-0110623.070425816974
2022-11-0111853.192171025807
2022-12-0112145.103978563526
2023-01-0112768.174404380497
2023-02-0112639.875924739328
2023-03-0112826.280072231608
2023-04-0112999.06797926254
2023-05-0111840.158443525368
2023-06-0112234.956602784412
2023-07-0113056.591134152735
2023-08-0112580.823673326731
2023-09-0111953.09314382245
2023-10-0111532.591600163105
2023-11-0112542.232189666223
2023-12-0113052.222286945886
2024-01-0112560.217277334423
2024-02-0112556.940641929285
2024-03-0112980.28193627308
2024-04-0112853.512553154309
2024-05-0113471.850061163861
2024-06-0113009.116327838296
2024-07-0113793.033144987476
2024-08-0114245.06320265626
2024-09-0114741.218617114233
2024-10-0114004.92223451972
2024-11-0113515.61134735248
2024-12-0113070.353002854314
2025-01-0113288.358478476148
2025-02-0113803.008679443119
2025-03-0114093.391390458439
2025-04-0115089.706995980663
2025-05-0115658.676530552804
2025-06-0115951.24366517155
2025-07-0115782.67897710724
2025-08-0116715.791926370366
2025-09-0116800.110677462577
2025-10-0116904.234869225842
2025-11-0117565.09582338207
2025-12-0117693.83118774393
2026-01-0118989.9225257762
2026-02-0119339.43030232423
2026-03-0117701.112599755343
2026-04-0119070.01805790179
Annual Return Matrix
YearAnnual Return
20170.23698512482587897
2018-0.20403412140873345
20190.25920876124293546
20200.0003842123646524698
20210.12835329306472065
2022-0.1397967024749488
20230.07469004052854977
20240.0013890903410802569
20250.35373782053781855
20260.07777777777777772
Total Factor Risk
0.20041150184826026
VTI.US Exposure
-0.24671183756620205
VEA.US Exposure
0.2938063116232634
VWO.US Exposure
0.09403445387108338
QQQ.US Exposure
0.12202667910077689
VTV.US Exposure
0.21518946199701722
IJR.US Exposure
0.00023788713831243659
QUAL.US Exposure
0.0199543447138298
SHV.US Exposure
0.1705124995721998
TLT.US Exposure
-0.025601366404838514
LQD.US Exposure
-0.026314307486892934
HYG.US Exposure
0.14799443488257716
GLD.US Exposure
0.0019302347878686341
USO.US Exposure
0.014436417108610388
VNQ.US Exposure
0.07435601751179201
BTC-USD.CC Exposure
-0.003619430248159864
CPER.US Exposure
-0.022755318241946473
VIX.INDX Exposure
0.006750423625121243
UUP.US Exposure
0.0914709365857661
TIP.US Exposure
0.0017249180751097114
Idiosyncratic Exposure
0.07057723935471168
Value Score
46
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
19
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
20.0%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →10.0x
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →1.58%
Market Cap$19.5B
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$0
Avg Yield on Cost
0.00%

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+2.4%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+9.1%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
4.7% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
1.06
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is iShares MSCI Belgium ETF a high-risk investment?

iShares MSCI Belgium ETF (EWK.US) has an annualized volatility of 20.0% and experienced a maximum drawdown of 33.0% over the last 10 years. Its primary macro risk driver is VEA.US.

What is the 10-year return of EWK.US?

Over the past 10 years, EWK.US has generated a Compound Annual Growth Rate (CAGR) of 6.4%. It has had a positive return in 80% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

Run a Full Backtest on iShares MSCI Belgium ETF

stresstest.pro lets you simulate DCA vs Lump Sum, Monte Carlo projections, portfolio optimisation, and more — all in seconds.

Start a Free Backtest