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EWD vs SPY

Comparison between ISHARES MSCI SWEDEN ETF (EWD, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed EWD, delivering a return of +13.0% compared to +4.6%

EWD vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
EWD
$285M
Winner
SPY
$781B
Expense Ratio
EWD
0.51%
Winner
SPY
0.09%
Max Drawdown
EWD
79.94%
Winner
SPY
56.47%
Sharpe Ratio
EWD
0.66
Winner
SPY
1.25
5Y Beta
Winner
EWD
0.86
SPY
1.00
P/E Ratio
EWD
N/A
SPY
28.78
Forward P/E
EWD
N/A
SPY
21.23
5Y Dividends CAGR
Winner
EWD
13.13%
SPY
6.00%
5Y EPS CAGR
EWD
N/A
SPY
25.62%
Debt to Equity
EWD
N/A
SPY
31.92%
P/S Ratio
EWD
N/A
SPY
3.76
P/B Ratio
EWD
N/A
SPY
5.64

EWD vs SPY - Holdings Comparison

EWD and SPY have 1 common holdings. Overlap is -0.32%

EWD's top 25 holdings weight is 84.35%. SPY's top 25 holdings weight is 51.74%.

RankEWDSPY
#1
INVESTOR AB CLASS B (n/a) - 9.50%
NVIDIA CORP (NVDA) - 7.89%
#2
SPOTIFY TECHNOLOGY SA (SPOT) - 9.45%
APPLE INC (AAPL) - 7.37%
#3
VOLVO AB CLASS B (VOLVF) - 7.16%
MICROSOFT CORP (MSFT) - 4.50%
#4
ATLAS COPCO AB CLASS A (n/a) - 6.66%
AMAZON.COM INC (AMZN) - 3.82%
#5
SANDVIK AB (n/a) - 5.57%
ALPHABET INC CLASS A (GOOGL) - 3.33%
#6
SWEDBANK AB CLASS A (n/a) - 4.16%
BROADCOM INC (AVGO) - 2.86%
#7
SKANDINAVISKA ENSKILDA BANKEN AB CLASS A (n/a) - 4.12%
ALPHABET INC CLASS C (GOOG) - 2.68%
#8
ASSA ABLOY AB CLASS B (n/a) - 4.04%
META PLATFORMS INC CLASS A (META) - 2.29%
#9
TELEFONAKTIEBOLAGET L M ERICSSON CLASS B (n/a) - 3.65%
TESLA INC (TSLA) - 1.70%
#10
ATLAS COPCO AB CLASS B (n/a) - 3.46%
MICRON TECHNOLOGY INC (MU) - 1.56%
#11
SVENSKA HANDELSBANKEN AB CLASS A (n/a) - 2.81%
JPMORGAN CHASE & CO (JPM) - 1.42%
#12
EPIROC AB ORDINARY SHARES CLASS A (n/a) - 2.27%
ELI LILLY AND CO (LLY) - 1.40%
#13
SAAB AB CLASS B (n/a) - 2.25%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#14
ESSITY AB CLASS B (n/a) - 2.25%
ADVANCED MICRO DEVICES INC (AMD) - 1.32%
#15
HEXAGON AB CLASS B (n/a) - 2.21%
EXXONMOBIL HOLDINGS CORP (XOM) - 0.92%
#16
ALFA LAVAL AB (n/a) - 2.19%
JOHNSON & JOHNSON (JNJ) - 0.91%
#17
BOLIDEN AB (n/a) - 2.02%
VISA INC CLASS A (V) - 0.90%
#18
EQT AB ORDINARY SHARES (n/a) - 1.88%
WALMART INC (WMT) - 0.76%
#19
TELIA COMPANY AB (n/a) - 1.48%
INTEL CORP (INTC) - 0.75%
#20
TELE2 AB CLASS B (n/a) - 1.26%
APPLIED MATERIALS INC (AMAT) - 0.70%
#21
EVOLUTION AB (n/a) - 1.24%
CISCO SYSTEMS INC (CSCO) - 0.68%
#22
SWEDISH ORPHAN BIOVITRUM AB (n/a) - 1.20%
MASTERCARD INC CLASS A (MA) - 0.66%
#23
SKF AB CLASS B (n/a) - 1.19%
ABBVIE INC (ABBV) - 0.66%
#24
ADDTECH AB CLASS B (n/a) - 1.18%
CATERPILLAR INC (CAT) - 0.65%
#25
EPIROC AB SHARE B (n/a) - 1.15%
LAM RESEARCH CORP (LRCX) - 0.64%
Total Holdings53505

EWD vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
EWD
-0.16%
Winner
SPY
+0.52%
3M
EWD
-3.31%
Winner
SPY
+6.55%
6M
EWD
-0.49%
Winner
SPY
+9.76%
1Y
EWD
+14.71%
Winner
SPY
+20.32%
5Y(CAGR)
EWD
+4.55%
Winner
SPY
+13.01%
10Y(CAGR)
EWD
+9.54%
Winner
SPY
+15.06%
Max(CAGR)
EWD
+6.62%
Winner
SPY
+8.50%

EWD vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearEWDSPY
2026+3.36%+10.11%
2025+36.16%+18.00%
2024-1.94%+25.59%
2023+23.68%+26.72%
2022-28.45%-18.64%
2021+21.34%+30.52%
2020+18.94%+17.28%
2019+23.80%+31.09%
2018-13.43%-5.24%
2017+21.04%+20.78%
2016+4.52%+13.59%
2015-3.90%+1.31%
2014-5.97%+14.56%
2013+21.95%+29.00%
2012+19.94%+14.17%
2011-18.22%+0.85%
2010+31.31%+13.14%
2009+48.46%+22.67%
2008-46.58%-36.25%
2007-2.28%+5.32%
2006+38.19%+13.85%
2005+9.32%+5.32%
2004+34.96%+10.75%
2003+57.95%+24.18%
2002-31.32%-22.42%
2001-22.76%-10.13%
2000-27.76%-8.84%
1999+27.13%+8.61%

EWD vs SPY Drawdown Comparison

The maximum drawdown for EWD was -75.34%, occurring on Oct 9, 2002. Recovery took 1668 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current EWD drawdown is -6.31%. The current SPY drawdown is -1.24%.

RankEWDSPY
#1-75.34%
Mar 3, 2000 - Oct 20, 2006		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-68.10%
Jul 12, 2007 - Apr 21, 2011		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-42.26%
Aug 13, 2021 - Feb 18, 2025		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-37.22%
Feb 12, 2020 - Jul 17, 2020		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-36.19%
May 2, 2011 - Mar 7, 2013		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-25.57%
May 21, 2014 - May 2, 2017		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-23.30%
Jan 24, 2018 - Jan 2, 2020		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-17.84%
Mar 7, 2025 - May 13, 2025		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-14.49%
Feb 27, 2026 - Mar 20, 2026		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-12.59%
May 21, 2013 - Jul 23, 2013		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-9.09%
Feb 26, 2007 - Mar 21, 2007		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-8.75%
May 7, 2007 - Jul 6, 2007		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-8.18%
Oct 12, 2020 - Nov 6, 2020		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-8.16%
Sep 18, 2013 - Dec 30, 2013		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-7.82%
Oct 27, 2025 - Dec 10, 2025		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between EWD and SPY 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 SPY dividend yield comparison.

YearEWDSPY
20262.38%0.49%
20253.27%1.07%
20241.77%1.21%
20232.41%1.40%
20223.68%1.65%
20215.46%1.20%
20200.98%1.52%
20194.15%1.75%
20185.17%2.04%
20173.23%1.80%
20163.91%2.03%
20154.08%2.06%
20143.92%1.87%
20133.47%1.81%
20123.03%2.18%
20114.13%2.05%
20101.77%1.80%
20092.13%1.95%
20088.23%3.02%
20073.61%1.85%
20061.05%1.73%
20051.85%1.73%
20040.70%1.82%
20031.58%1.47%
20021.28%1.70%
20010.35%1.25%
200030.15%1.15%
19993.42%0.24%

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