EWC Fund Description

The iShares MSCI Canada ETF tracks a market-cap-weighted index of Canadian stocks. It captures 85% of the publicly available market, excluding all small-caps.

EWC ETF.com Insight

EWC provides excellent coverage in a low cost wrapper—a clear Analyst Pick. At 51 bps, it's the cheaper of the two established funds in the segment, and strong tracking keeps holdingLiquidity is strong for small and large investors alike costs and risks low. EWC's underlying index is very similar to our segment benchmark, so the fund doesn't stray much from the broad market. Here, that means a heavy dose of financials and concentrated exposure: Its top 10 holdings account for about 40% of its portfolio. Liquidity is strong for small and large investors alike, with over $30M trading on a daily basis. With an asset base of $3.5 billion, this fund is here to stay. (Insight updated 09/24/2014)

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
Performance [as of 10/16/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years
EWC -11.65% -11.03% -0.74% 2.33% 3.79% 3.71% 7.98%
EWC (NAV) -11.53% -11.22% -0.95% 2.01% 3.75% 3.72% 7.96%
MSCI Canada Index -11.50% -11.19% -0.85% 2.16% 3.96% 3.95% 8.23%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

EWC Top 10 Countries

EWC Top 10 Sectors

EWC Top 10 Holdings View All

EWC Summary Data

BlackRock

A company that produces and manages ETFs.

03/12/96

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.51%

The net total annual fee a fund holder pays to the issuer.

$3.04 B

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$57.78 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.03%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

EWC Portfolio Data

$38.41 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

22.28

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.96

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

2.17%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

12/17/14

The date on which a security's price excludes an upcoming dividend.

94

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

EWC Index Data

MSCI Canada Index

This is the benchmark an ETF is desigend to track or replicate.

Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

MSCI Canada Investable
Markets

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to EWC

FCAN

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

EWC ETF.com Efficiency Insight

EWC is a large, well-run fund. The fund's fee is much lower than its one peer. Better yet, the fund has typically trailed its index by just 0.18%—less than its expense ratio. With over $3 billion in assets and great liquidity, the fund has almost no chance of closing. (Insight updated 09/24/2014)

Total Return - 10/16/2014
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
Performance [as of 10/16/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years
EWC -11.65% -11.03% -0.74% 2.33% 3.79% 3.71% 7.98%
EWC (NAV) -11.53% -11.22% -0.95% 2.01% 3.75% 3.72% 7.96%
MSCI Canada Index -11.50% -11.19% -0.85% 2.16% 3.96% 3.95% 8.23%
MSCI Canada Investable Markets -11.63% -11.90% -1.31% 1.75% 3.31% 4.10% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

EWC Portfolio Management

0.51%

The net annual fee a fund holder pays to the issuer.

-0.18%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

-0.14%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

-0.25%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

EWC Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

EWC Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

75% / 25%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

EWC ETF.com Tradability Insight

EWC is the behemoth in its segment when it comes to liquidity. The fund trades over $30M a day at pennywide spreads. Block liquidity in the fund is more than adequate to support larger investors utilizing liquidity providers. As a plus, 1 creation unit of EWC accounts for only 0.15% of the volume in its underlying components so creating new shares should also pose few challenges. (Insight updated 09/24/2014)



Average Spread
Premium/Discount
Volume

EWC ETF.com/ Block LiquidityAs of 10/17/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of EWC. EWC is rated a 5 out of 5.

EWC Tradability

1,866,045

It is the daily number of shares traded, averaged over the past 45 trading days.

$57.78 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

1,271,151

Median number of shares traded over the past 45 trading days.

$39.06 M

Median dollar value of shares traded over the past 45 trading days.

0.03%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

$0.01

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

0.03%

The middle value in the ranked set of all premium/discount values over a maximum 12-month period.

0.76% / -1.20%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

100.00%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

100,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

12.71

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.07%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

0.13%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

11,060

The total number of net outstanding options contracts for an ETF.

$28.63

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

EWC ETF.com Fit Insight

EWC's underlying index is very similar to our segment benchmark. As a result, the fund does a great job of representing the broad market. Industry tilts are still present—the fund is slightly overweight financials and underweight telecom. It also tilts larger, with a weighted average market cap of $40B, compared to the benchmark's $34B. EWC's beta of 0.97 confirms the fund's risks align with our segment benchmark. Note: EWC is somewhat top-heavy—its top 10 holdings account for over 40% of its portfolio. (Insight updated 09/24/2014)

EWC Sector/Industry BreakdownView All

EWC Segment Benchmark
34.56% 37.82%

25.66% 26.02%

11.70% 10.65%

8.97% 9.12%

4.90% 4.40%

3.16% 3.69%

1.94% 1.39%

1.48% 1.22%

EWC Geographic Exposure

EWC Segment Benchmark
99.44% 99.37%

0.52% 0.63%

0.04% --

EWC Segment Benchmark
99.96% 100.00%

0.04% --

100.00% / 0% 100.00% / 0%

EWC Performance Statistics

0.99

The degree to which the fund and its segment benchmark move up and down in unison.

0.97

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

0.97

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.98

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.06%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

MSCI Canada Investable
Markets

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

EWC Benchmark Comparison

EWC
94 Holdings
Segment Benchmark
336 Constituents
Shared Holdings
94 (Count)
 
82.59% (Weight)
EWCSegment Benchmark
$32.58 B$38.41 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

63%74%
25%26%
10%0%
2%0%
24.3622.28

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.891.96

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

2.88%2.81%

The weighted average of the current yield on the portfolio’s holdings.

33694

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

LowMedium

The level of return contribution attributable to the average portfolio constituent.