EWD vs FRWD
Comparison between ISHARES MSCI SWEDEN ETF (EWD, ETF) and Nomura Transformational Technologies ETF (FRWD, ETF).
EWD vs FRWD - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
EWD
$285M
Winner
FRWD
$285M
Expense Ratio
Winner
EWD
0.51%
FRWD
0.65%
Max Drawdown
EWD
79.94%
Winner
FRWD
18.49%
Sharpe Ratio
EWD
0.66
Winner
FRWD
1.40
5Y Beta
Winner
EWD
0.86
FRWD
2.08
P/E Ratio
EWD
N/A
FRWD
43.94
Forward P/E
EWD
N/A
FRWD
24.86
PEG Ratio
EWD
N/A
FRWD
0.28
5Y Dividends CAGR
EWD
13.13%
FRWD
N/A
5Y EPS CAGR
EWD
N/A
FRWD
34.63%
P/S Ratio
EWD
N/A
FRWD
4.51
P/B Ratio
EWD
N/A
FRWD
12.90
EWD vs FRWD - Holdings Comparison
EWD and FRWD have 2 common holdings. Overlap is 2.36%
EWD's top 25 holdings weight is 84.35%. FRWD's top 25 holdings weight is 99.42%.
| Rank | EWD | FRWD |
|---|---|---|
| #1 | INVESTOR AB CLASS B (n/a) - 9.50% | NVIDIA CORP (NVDA) - 8.39% |
| #2 | SPOTIFY TECHNOLOGY SA (SPOT) - 9.45% | ADVANCED MICRO DEVICES INC (AMD) - 7.40% |
| #3 | VOLVO AB CLASS B (VOLVF) - 7.16% | SEAGATE TECHNOLOGY HOLDINGS PLC (STX) - 6.98% |
| #4 | ATLAS COPCO AB CLASS A (n/a) - 6.66% | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ADR (TSM) - 6.10% |
| #5 | SANDVIK AB (n/a) - 5.57% | LAM RESEARCH CORP (LRCX) - 5.72% |
| #6 | SWEDBANK AB CLASS A (n/a) - 4.16% | ASML HOLDING NV ADR (ASML) - 4.79% |
| #7 | SKANDINAVISKA ENSKILDA BANKEN AB CLASS A (n/a) - 4.12% | BROADCOM INC (AVGO) - 4.71% |
| #8 | ASSA ABLOY AB CLASS B (n/a) - 4.04% | MICRON TECHNOLOGY INC (MU) - 4.60% |
| #9 | TELEFONAKTIEBOLAGET L M ERICSSON CLASS B (n/a) - 3.65% | WESTERN DIGITAL CORP (WDC) - 4.36% |
| #10 | ATLAS COPCO AB CLASS B (n/a) - 3.46% | TEXAS INSTRUMENTS INC (TXN) - 3.94% |
| #11 | SVENSKA HANDELSBANKEN AB CLASS A (n/a) - 2.81% | NETFLIX INC (NFLX) - 3.79% |
| #12 | EPIROC AB ORDINARY SHARES CLASS A (n/a) - 2.27% | SAMSUNG ELECTRONICS CO LTD (n/a) - 3.76% |
| #13 | SAAB AB CLASS B (n/a) - 2.25% | DOORDASH INC ORDINARY SHARES CLASS A (DASH) - 3.64% |
| #14 | ESSITY AB CLASS B (n/a) - 2.25% | ALPHABET INC CLASS A (GOOGL) - 3.44% |
| #15 | HEXAGON AB CLASS B (n/a) - 2.21% | MICROSOFT CORP (MSFT) - 3.13% |
| #16 | ALFA LAVAL AB (n/a) - 2.19% | AMAZON.COM INC (AMZN) - 3.05% |
| #17 | BOLIDEN AB (n/a) - 2.02% | KRATOS DEFENSE & SECURITY SOLUTIONS INC (KTOS) - 2.90% |
| #18 | EQT AB ORDINARY SHARES (n/a) - 1.88% | SPOTIFY TECHNOLOGY SA (SPOT) - 2.68% |
| #19 | TELIA COMPANY AB (n/a) - 1.48% | CELESTICA INC ORDINARY SHARES (SUBORDINATE VOTING) (CLS) - 2.63% |
| #20 | TELE2 AB CLASS B (n/a) - 1.26% | MERCADOLIBRE INC (MELI) - 2.57% |
| #21 | EVOLUTION AB (n/a) - 1.24% | SPACE EXPLORATION TECHNOLOGIES CORP CLASS A (SPCX) - 2.51% |
| #22 | SWEDISH ORPHAN BIOVITRUM AB (n/a) - 1.20% | BOOKING HOLDINGS INC (BKNG) - 2.25% |
| #23 | SKF AB CLASS B (n/a) - 1.19% | SHOPIFY INC REGISTERED SHS -A- SUBORD VTG (SHOP) - 2.16% |
| #24 | ADDTECH AB CLASS B (n/a) - 1.18% | SERVICENOW INC (NOW) - 1.99% |
| #25 | EPIROC AB SHARE B (n/a) - 1.15% | CADENCE DESIGN SYSTEMS INC (CDNS) - 1.93% |
| Total Holdings | 53 | 27 |
EWD vs FRWD - Historical Returns
Returns include dividend reinvestment.
1M
Winner
EWD
-0.16%
FRWD
-7.62%
3M
EWD
-3.31%
Winner
FRWD
+17.20%
6M
EWD
-0.49%
Winner
FRWD
+26.34%
1Y
EWD
+14.71%
FRWD
N/A
5Y(CAGR)
EWD
+4.55%
FRWD
N/A
10Y(CAGR)
EWD
+9.54%
FRWD
N/A
Max(CAGR)
EWD
+6.62%
Winner
FRWD
+58.34%
EWD vs FRWD - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | EWD | FRWD |
|---|---|---|
| 2026 | +3.36% | +26.85% |
| 2025 | +36.16% | N/A |
| 2024 | -1.94% | N/A |
| 2023 | +23.68% | N/A |
| 2022 | -28.45% | N/A |
| 2021 | +21.34% | N/A |
| 2020 | +18.94% | N/A |
| 2019 | +23.80% | N/A |
| 2018 | -13.43% | N/A |
| 2017 | +21.04% | N/A |
| 2016 | +4.52% | N/A |
| 2015 | -3.90% | N/A |
| 2014 | -5.97% | N/A |
| 2013 | +21.95% | N/A |
| 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 FRWD Drawdown Comparison
The maximum drawdown for EWD was -75.34%, occurring on Oct 9, 2002. Recovery took 1668 trading sessions.
The maximum drawdown for FRWD was -18.49%, occurring on Mar 30, 2026. Recovery took 53 trading sessions.
The current EWD drawdown is -6.31%. The current FRWD drawdown is -8.32%.
| Rank | EWD | FRWD |
|---|---|---|
| #1 | -75.34% Mar 3, 2000 - Oct 20, 2006 | -18.49% Jan 28, 2026 - Apr 15, 2026 |
| #2 | -68.10% Jul 12, 2007 - Apr 21, 2011 | -12.65% Jun 18, 2026 - Jul 17, 2026 |
| #3 | -42.26% Aug 13, 2021 - Feb 18, 2025 | -9.94% Jun 2, 2026 - Jun 15, 2026 |
| #4 | -37.22% Feb 12, 2020 - Jul 17, 2020 | -5.01% May 14, 2026 - May 22, 2026 |
| #5 | -36.19% May 2, 2011 - Mar 7, 2013 | -2.67% Apr 24, 2026 - May 1, 2026 |
| #6 | -25.57% May 21, 2014 - May 2, 2017 | -1.87% Jan 16, 2026 - Jan 22, 2026 |
| #7 | -23.30% Jan 24, 2018 - Jan 2, 2020 | -1.81% Jun 15, 2026 - Jun 18, 2026 |
| #8 | -17.84% Mar 7, 2025 - May 13, 2025 | -1.60% May 11, 2026 - May 14, 2026 |
| #9 | -14.49% Feb 27, 2026 - Mar 20, 2026 | -1.53% Jan 13, 2026 - Jan 16, 2026 |
| #10 | -12.59% May 21, 2013 - Jul 23, 2013 | -1.34% May 6, 2026 - May 8, 2026 |
| #11 | -9.09% Feb 26, 2007 - Mar 21, 2007 | -0.89% Apr 22, 2026 - Apr 24, 2026 |
| #12 | -8.75% May 7, 2007 - Jul 6, 2007 | -0.59% Apr 17, 2026 - Apr 22, 2026 |
| #13 | -8.18% Oct 12, 2020 - Nov 6, 2020 | -0.09% May 1, 2026 - May 5, 2026 |
| #14 | -8.16% Sep 18, 2013 - Dec 30, 2013 | N/A |
| #15 | -7.82% Oct 27, 2025 - Dec 10, 2025 | N/A |
Correlation
Correlation between EWD and FRWD is 0.05 which considered as a very weak or no correlation - the stocks move independently of each other.
0.05
-101
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