EWD vs FMAT
Comparison between ISHARES MSCI SWEDEN ETF (EWD, ETF) and FIDELITY MSCI MATERIALS INDEX ETF (FMAT, ETF).
5-Year PerformanceFMAT has outperformed EWD, delivering a return of +6.7% compared to +5.6%
EWD vs FMAT - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
EWD
$580M
FMAT
$579M
Expense Ratio
EWD
0.51%
Winner
FMAT
0.08%
Max Drawdown
EWD
79.94%
Winner
FMAT
43.86%
Sharpe Ratio
Winner
EWD
0.82
FMAT
0.70
5Y Beta
EWD
0.86
Winner
FMAT
0.86
P/E Ratio
EWD
N/A
FMAT
30.31
Forward P/E
EWD
N/A
FMAT
18.85
5Y Dividends CAGR
Winner
EWD
13.13%
FMAT
4.94%
5Y EPS CAGR
EWD
N/A
FMAT
15.70%
Debt to Equity
EWD
N/A
FMAT
35.35%
P/S Ratio
EWD
N/A
FMAT
2.05
P/B Ratio
EWD
N/A
FMAT
3.10
EWD vs FMAT - Holdings Comparison
EWD and FMAT have 1 common holdings. Overlap is -0.28%
EWD's top 25 holdings weight is 84.48%. FMAT's top 25 holdings weight is 78.71%.
| Rank | EWD | FMAT |
|---|---|---|
| #1 | INVESTOR AB CLASS B (n/a) - 9.64% | LINDE PLC (LIN) - 15.76% |
| #2 | SPOTIFY TECHNOLOGY SA (SPOT) - 9.12% | NEWMONT CORP (NEM) - 6.73% |
| #3 | VOLVO AB CLASS B (VOLVF) - 7.55% | FREEPORT-MCMORAN INC (FCX) - 6.06% |
| #4 | ATLAS COPCO AB CLASS A (n/a) - 6.87% | SHERWIN-WILLIAMS CO (SHW) - 5.04% |
| #5 | SANDVIK AB (n/a) - 4.90% | ECOLAB INC (ECL) - 4.52% |
| #6 | SKANDINAVISKA ENSKILDA BANKEN AB CLASS A (n/a) - 4.39% | CRH PLC (CRH) - 4.50% |
| #7 | ASSA ABLOY AB CLASS B (n/a) - 4.26% | AIR PRODUCTS AND CHEMICALS INC (APD) - 4.22% |
| #8 | SWEDBANK AB CLASS A (n/a) - 4.19% | CORTEVA INC (CTVA) - 3.93% |
| #9 | ATLAS COPCO AB CLASS B (n/a) - 3.56% | NUCOR CORP (NUE) - 3.49% |
| #10 | TELEFONAKTIEBOLAGET L M ERICSSON CLASS B (n/a) - 3.43% | VULCAN MATERIALS CO (VMC) - 2.43% |
| #11 | SVENSKA HANDELSBANKEN AB CLASS A (n/a) - 2.76% | MARTIN MARIETTA MATERIALS INC (MLM) - 2.22% |
| #12 | HEXAGON AB CLASS B (n/a) - 2.57% | STEEL DYNAMICS INC (STLD) - 2.16% |
| #13 | SAAB AB CLASS B (n/a) - 2.54% | PPG INDUSTRIES INC (PPG) - 1.74% |
| #14 | ESSITY AB CLASS B (n/a) - 2.15% | AMRIZE LTD REGISTERED SHARE (AMRZ) - 1.63% |
| #15 | ALFA LAVAL AB (n/a) - 2.12% | SMURFIT WESTROCK PLC (SW) - 1.52% |
| #16 | EQT AB ORDINARY SHARES (n/a) - 2.12% | DOW INC (DOW) - 1.48% |
| #17 | EPIROC AB ORDINARY SHARES CLASS A (n/a) - 2.09% | PACKAGING CORP OF AMERICA (PKG) - 1.37% |
| #18 | BOLIDEN AB (n/a) - 1.74% | AMCOR PLC ORDINARY SHARES (AMCR) - 1.35% |
| #19 | TELIA COMPANY AB (n/a) - 1.35% | RELIANCE INC (RS) - 1.32% |
| #20 | EVOLUTION AB (n/a) - 1.26% | DUPONT DE NEMOURS INC (DD) - 1.28% |
| #21 | ADDTECH AB CLASS B (n/a) - 1.19% | INTERNATIONAL FLAVORS & FRAGRANCES INC (IFF) - 1.28% |
| #22 | TELE2 AB CLASS B (n/a) - 1.19% | CF INDUSTRIES HOLDINGS INC (CF) - 1.27% |
| #23 | SKANSKA AB CLASS B (n/a) - 1.18% | INTERNATIONAL PAPER CO (IP) - 1.23% |
| #24 | SKF AB CLASS B (n/a) - 1.17% | ROYAL GOLD INC (RGLD) - 1.11% |
| #25 | H & M HENNES & MAURITZ AB CLASS B (n/a) - 1.14% | COEUR MINING INC (CDE) - 1.07% |
| Total Holdings | 53 | 104 |
EWD vs FMAT - Historical Returns
Returns include dividend reinvestment.
1M
Winner
EWD
+4.50%
FMAT
+3.60%
3M
Winner
EWD
+4.27%
FMAT
+2.59%
6M
Winner
EWD
+0.40%
FMAT
-1.71%
1Y
Winner
EWD
+19.29%
FMAT
+16.29%
5Y(CAGR)
EWD
+5.57%
Winner
FMAT
+6.71%
10Y(CAGR)
EWD
+9.85%
Winner
FMAT
+10.09%
Max(CAGR)
EWD
+6.87%
Winner
FMAT
+9.07%
EWD vs FMAT - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | EWD | FMAT |
|---|---|---|
| 2026 | +10.77% | +13.86% |
| 2025 | +36.16% | +13.29% |
| 2024 | -1.94% | +0.84% |
| 2023 | +23.68% | +13.85% |
| 2022 | -28.45% | -10.66% |
| 2021 | +21.34% | +28.83% |
| 2020 | +18.94% | +20.79% |
| 2019 | +23.80% | +22.83% |
| 2018 | -13.43% | -18.83% |
| 2017 | +21.04% | +22.61% |
| 2016 | +4.52% | +23.44% |
| 2015 | -3.90% | -10.02% |
| 2014 | -5.97% | +6.47% |
| 2013 | +21.95% | +5.12% |
| 2012 | +19.94% | N/A |
| 2011 | -18.22% | N/A |
| 2010 | +31.31% | N/A |
| 2009 | +48.46% | N/A |
| 2008 | -46.58% | N/A |
| 2007 | -2.28% | N/A |
| 2006 | +38.19% | N/A |
| 2005 | +9.32% | N/A |
| 2004 | +34.96% | N/A |
| 2003 | +57.95% | N/A |
| 2002 | -31.32% | N/A |
| 2001 | -22.76% | N/A |
| 2000 | -27.76% | N/A |
| 1999 | +27.13% | N/A |
EWD vs FMAT Drawdown Comparison
The maximum drawdown for EWD was -75.34%, occurring on Oct 9, 2002. Recovery took 1668 trading sessions.
The maximum drawdown for FMAT was -41.08%, occurring on Mar 23, 2020. Recovery took 654 trading sessions.
The current EWD drawdown is -1.23%. The current FMAT drawdown is -1.71%.
| Rank | EWD | FMAT |
|---|---|---|
| #1 | -75.34% Mar 3, 2000 - Oct 20, 2006 | -41.08% Jan 26, 2018 - Sep 1, 2020 |
| #2 | -68.10% Jul 12, 2007 - Apr 21, 2011 | -27.23% Feb 24, 2015 - Nov 15, 2016 |
| #3 | -42.26% Aug 13, 2021 - Feb 18, 2025 | -25.40% Apr 20, 2022 - Feb 29, 2024 |
| #4 | -37.22% Feb 12, 2020 - Jul 17, 2020 | -23.17% Oct 18, 2024 - Dec 26, 2025 |
| #5 | -36.19% May 2, 2011 - Mar 7, 2013 | -13.47% Feb 27, 2026 - Mar 20, 2026 |
| #6 | -25.57% May 21, 2014 - May 2, 2017 | -12.14% Sep 5, 2014 - Feb 12, 2015 |
| #7 | -23.30% Jan 24, 2018 - Jan 2, 2020 | -10.68% Jan 4, 2022 - Mar 25, 2022 |
| #8 | -17.84% Mar 7, 2025 - May 13, 2025 | -10.63% May 17, 2021 - Nov 8, 2021 |
| #9 | -14.49% Feb 27, 2026 - Aug 4, 2026 | -9.11% Jan 12, 2021 - Mar 10, 2021 |
| #10 | -12.59% May 21, 2013 - Jul 23, 2013 | -7.81% Sep 17, 2020 - Oct 9, 2020 |
| #11 | -9.09% Feb 26, 2007 - Mar 21, 2007 | -7.72% Nov 12, 2021 - Dec 29, 2021 |
| #12 | -8.75% May 7, 2007 - Jul 6, 2007 | -6.81% Apr 9, 2024 - Jul 31, 2024 |
| #13 | -8.18% Oct 12, 2020 - Nov 6, 2020 | -6.69% Dec 31, 2013 - Feb 14, 2014 |
| #14 | -8.16% Sep 18, 2013 - Dec 30, 2013 | -6.65% Oct 12, 2020 - Nov 3, 2020 |
| #15 | -7.82% Oct 27, 2025 - Dec 10, 2025 | -6.57% Jul 31, 2024 - Aug 26, 2024 |
Correlation
Correlation between EWD and FMAT is 0.94 which considered as a very strong positive correlation - the stocks move almost identically together.
0.94
-101
Dividend Comparison (1999 - 2026)
EWD vs FMAT dividend yield comparison.
| Year | EWD | FMAT |
|---|---|---|
| 2026 | 2.22% | 0.67% |
| 2025 | 3.27% | 1.64% |
| 2024 | 1.77% | 1.68% |
| 2023 | 2.41% | 1.71% |
| 2022 | 3.68% | 2.00% |
| 2021 | 5.46% | 1.44% |
| 2020 | 0.98% | 1.73% |
| 2019 | 4.15% | 1.89% |
| 2018 | 5.17% | 2.18% |
| 2017 | 3.23% | 1.53% |
| 2016 | 3.91% | 1.78% |
| 2015 | 4.08% | 2.16% |
| 2014 | 3.92% | 1.65% |
| 2013 | 3.47% | 0.39% |
| 2012 | 3.03% | 0.00% |
| 2011 | 4.13% | 0.00% |
| 2010 | 1.77% | 0.00% |
| 2009 | 2.13% | 0.00% |
| 2008 | 8.23% | 0.00% |
| 2007 | 3.61% | 0.00% |
| 2006 | 1.05% | 0.00% |
| 2005 | 1.85% | 0.00% |
| 2004 | 0.70% | 0.00% |
| 2003 | 1.58% | 0.00% |
| 2002 | 1.28% | 0.00% |
| 2001 | 0.35% | 0.00% |
| 2000 | 30.15% | 0.00% |
| 1999 | 3.42% | 0.00% |
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