EWC vs SPY
Comparison between iShares MSCI Canada ETF (EWC, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed EWC, delivering a return of +13.3% compared to +11.8%
EWC vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
EWC
$4.70B
Winner
SPY
$652B
Expense Ratio
EWC
0.50%
Winner
SPY
0.09%
Max Drawdown
EWC
62.71%
Winner
SPY
56.47%
Sharpe Ratio
Winner
EWC
2.12
SPY
2.07
5Y Beta
Winner
EWC
0.70
SPY
1.00
P/E Ratio
EWC
N/A
SPY
28.24
Forward P/E
EWC
N/A
SPY
21.85
5Y Dividends CAGR
EWC
5.11%
Winner
SPY
5.43%
5Y EPS CAGR
EWC
N/A
SPY
25.79%
Debt to Equity
EWC
N/A
SPY
22.35%
P/S Ratio
EWC
N/A
SPY
3.55
P/B Ratio
EWC
N/A
SPY
5.29
EWC vs SPY - Holdings Comparison
EWC and SPY have 1 common holdings. Overlap is -0.13%
EWC's top 25 holdings weight is 69.59%. SPY's top 25 holdings weight is 51.32%.
| Rank | EWC | SPY |
|---|---|---|
| #1 | ROYAL BANK OF CANADA (n/a) - 7.99% | NVIDIA CORP (NVDA) - 8.45% |
| #2 | THE TORONTO-DOMINION BANK (n/a) - 5.59% | APPLE INC (AAPL) - 6.48% |
| #3 | n/a (SHOP) - 5.24% | MICROSOFT CORP (MSFT) - 5.20% |
| #4 | ENBRIDGE INC (n/a) - 4.18% | AMAZON.COM INC (AMZN) - 4.14% |
| #5 | CANADIAN NATURAL RESOURCES LTD (n/a) - 3.57% | ALPHABET INC CLASS A (GOOGL) - 3.32% |
| #6 | BANK OF MONTREAL (n/a) - 3.43% | BROADCOM INC (AVGO) - 3.09% |
| #7 | AGNICO EAGLE MINES LTD (n/a) - 3.26% | ALPHABET INC CLASS C (GOOG) - 2.65% |
| #8 | CANADIAN IMPERIAL BANK OF COMMERCE (n/a) - 3.17% | META PLATFORMS INC CLASS A (META) - 2.40% |
| #9 | BANK OF NOVA SCOTIA (n/a) - 3.03% | TESLA INC (TSLA) - 1.73% |
| #10 | n/a (n/a) - 2.88% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43% |
| #11 | SUNCOR ENERGY INC (SU) - 2.68% | JPMORGAN CHASE & CO (JPM) - 1.37% |
| #12 | CANADIAN PACIFIC KANSAS CITY LTD (CP) - 2.52% | ELI LILLY AND CO (LLY) - 1.13% |
| #13 | TC ENERGY CORP (TRP) - 2.35% | EXXON MOBIL CORP (XOM) - 1.03% |
| #14 | BARRICK MINING CORP (n/a) - 2.25% | MICRON TECHNOLOGY INC (MU) - 0.93% |
| #15 | MANULIFE FINANCIAL CORP (MFC) - 2.04% | WALMART INC (WMT) - 0.91% |
| #16 | WHEATON PRECIOUS METALS CORP (WPM) - 1.92% | JOHNSON & JOHNSON (JNJ) - 0.90% |
| #17 | CANADIAN NATIONAL RAILWAY CO (n/a) - 1.87% | ADVANCED MICRO DEVICES INC (AMD) - 0.86% |
| #18 | NATIONAL BANK OF CANADA (n/a) - 1.80% | VISA INC CLASS A (V) - 0.85% |
| #19 | CAMECO CORP (n/a) - 1.63% | COSTCO WHOLESALE CORP (COST) - 0.72% |
| #20 | FRANCO-NEVADA CORP (FNV) - 1.55% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #21 | ALIMENTATION COUCHE-TARD INC (n/a) - 1.50% | INTEL CORP (INTC) - 0.65% |
| #22 | DOLLARAMA INC (n/a) - 1.32% | NETFLIX INC (NFLX) - 0.64% |
| #23 | CONSTELLATION SOFTWARE INC (n/a) - 1.32% | CATERPILLAR INC (CAT) - 0.62% |
| #24 | n/a (n/a) - 1.26% | CHEVRON CORP (CVX) - 0.58% |
| #25 | SUN LIFE FINANCIAL INC (SLF) - 1.24% | PROCTER & GAMBLE CO (PG) - 0.57% |
| Total Holdings | 88 | 505 |
EWC vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
EWC
+2.56%
Winner
SPY
+9.11%
3M
EWC
+3.23%
Winner
SPY
+6.59%
6M
Winner
EWC
+16.99%
SPY
+10.56%
1Y
Winner
EWC
+37.82%
SPY
+32.04%
5Y(CAGR)
EWC
+11.83%
Winner
SPY
+13.35%
10Y(CAGR)
EWC
+11.67%
Winner
SPY
+15.49%
Max(CAGR)
EWC
+8.35%
Winner
SPY
+8.50%
EWC vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | EWC | SPY |
|---|---|---|
| 2026 | +7.20% | +8.27% |
| 2025 | +35.76% | +18.00% |
| 2024 | +13.57% | +25.59% |
| 2023 | +15.42% | +26.72% |
| 2022 | -13.26% | -18.64% |
| 2021 | +26.59% | +30.52% |
| 2020 | +5.20% | +17.28% |
| 2019 | +26.40% | +31.09% |
| 2018 | -17.90% | -5.24% |
| 2017 | +15.08% | +20.78% |
| 2016 | +25.63% | +13.59% |
| 2015 | -23.46% | +1.31% |
| 2014 | +1.78% | +14.56% |
| 2013 | +3.58% | +29.00% |
| 2012 | +5.93% | +14.17% |
| 2011 | -13.13% | +0.85% |
| 2010 | +17.16% | +13.14% |
| 2009 | +49.27% | +22.67% |
| 2008 | -44.93% | -36.25% |
| 2007 | +31.35% | +5.32% |
| 2006 | +14.05% | +13.85% |
| 2005 | +28.83% | +5.32% |
| 2004 | +20.40% | +10.75% |
| 2003 | +49.22% | +24.18% |
| 2002 | -11.68% | -22.42% |
| 2001 | -18.05% | -10.13% |
| 2000 | +7.41% | -8.84% |
| 1999 | +14.77% | +8.61% |
EWC vs SPY Drawdown Comparison
The maximum drawdown for EWC was -60.77%, occurring on Mar 9, 2009. Recovery took 859 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current EWC drawdown is -1.16%.
| Rank | EWC | SPY |
|---|---|---|
| #1 | -60.77% Nov 6, 2007 - Apr 5, 2011 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -51.69% Sep 5, 2000 - Nov 3, 2004 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -42.66% Feb 19, 2020 - Nov 27, 2020 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -41.39% Sep 3, 2014 - Nov 15, 2019 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -28.48% Apr 8, 2011 - Jun 23, 2014 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -24.80% Mar 30, 2022 - Jul 12, 2024 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -14.51% Jul 19, 2007 - Sep 25, 2007 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -13.07% May 10, 2006 - Nov 22, 2006 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -12.96% Dec 5, 2024 - May 2, 2025 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -11.44% Mar 24, 2000 - Jun 2, 2000 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -9.99% Mar 8, 2005 - Jun 28, 2005 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -9.95% Oct 3, 2005 - Dec 6, 2005 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -8.51% Mar 2, 2026 - Apr 17, 2026 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -8.15% Nov 12, 2021 - Mar 17, 2022 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -6.98% Jul 25, 2000 - Aug 16, 2000 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between EWC and SPY is 0.92 which considered as a very strong positive correlation - the stocks move almost identically together.
0.92
-101
Dividend Comparison (1999 - 2026)
EWC vs SPY dividend yield comparison.
| Year | EWC | SPY |
|---|---|---|
| 2026 | 0.00% | 0.24% |
| 2025 | 1.45% | 1.07% |
| 2024 | 2.23% | 1.21% |
| 2023 | 2.27% | 1.40% |
| 2022 | 2.34% | 1.65% |
| 2021 | 1.85% | 1.20% |
| 2020 | 2.09% | 1.52% |
| 2019 | 2.16% | 1.75% |
| 2018 | 2.65% | 2.04% |
| 2017 | 1.97% | 1.80% |
| 2016 | 1.75% | 2.03% |
| 2015 | 2.34% | 2.06% |
| 2014 | 2.15% | 1.87% |
| 2013 | 2.37% | 1.81% |
| 2012 | 2.09% | 2.18% |
| 2011 | 2.10% | 2.05% |
| 2010 | 1.61% | 1.80% |
| 2009 | 1.25% | 1.95% |
| 2008 | 2.55% | 3.02% |
| 2007 | 1.21% | 1.85% |
| 2006 | 1.12% | 1.73% |
| 2005 | 0.68% | 1.73% |
| 2004 | 1.15% | 1.82% |
| 2003 | 1.41% | 1.47% |
| 2002 | 0.31% | 1.70% |
| 2001 | 0.80% | 1.25% |
| 2000 | 39.98% | 1.15% |
| 1999 | 0.02% | 0.24% |
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