---
ticker: "EWK"
name: "iShares MSCI Belgium ETF"
url: "https://etf.net/etf/EWK"
grade: "C"
score: 51
graded_at: "2026-10-12"
category: "Developed Single Country"
category_rank: "21 of 38"
methodology: "https://etf.net/methodology"
---

# EWK: iShares MSCI Belgium ETF

Grade **C**, Score 51 of 100. Rank 21 of 38 in Developed Single Country.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 55 | 10 of 38 |
| Mission | 56 | 26 of 35 |
| Risk | 51 | 16 of 37 |
| Tradability | 40 | 26 of 38 |
| Holdings | 40 | 26 of 36 |
| Durability | 58 | 17 of 38 |

## Top holdings

The fund holds 41 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | ABI.BR | Anheuser-Busch Inbev SA | 21.43% |
| 2 | ARGX.BR | Argenx | 15.04% |
| 3 | KBC.BR | Kbc Groep | 7.57% |
| 4 | AGS.BR | Ageas | 4.62% |
| 5 | UCB.BR | Ucb SA | 4.38% |
| 6 | AED.BR | Aedifica NV | 3.19% |
| 7 | ACKB.BR | Ackermans & Van Haaren NV | 2.81% |
| 8 | SYENS.BR | Syensqo NV | 2.71% |
| 9 | GBLB.BR | Groupe Bruxelles Lambert NV | 2.54% |
| 10 | LOTB.BR | Lotus Bakeries NV | 2.50% |
| 11 | ELI.BR | Elia Group SA | 2.45% |
| 12 | UMI.BR | Umicore SA | 2.29% |
| 13 | SOF.BR | Sofina SA | 2.01% |
| 14 | KBCA.BR | Kbc Ancora NV | 1.98% |
| 15 | DIE.BR | Dieteren (D) SA | 1.87% |
| 16 | WDP.BR | Warehouses De Pauw NV | 1.87% |
| 17 | TUB.BR | Financiere De Tubize SA | 1.75% |
| 18 | CMBT.BR | Cmb.tech NV | 1.75% |
| 19 | AZE.BR | Azelis Group NV | 1.65% |
| 20 | SOLB.BR | Solvay SA | 1.15% |
| 21 | FAGR.BR | Fagron NV | 1.02% |
| 22 | MELE.BR | Melexis NV | 0.98% |
| 23 | BEKB.BR | Bekaert (D) SA | 0.97% |
| 24 | DEME.BR | Deme Group NV | 0.93% |
| 25 | KIN.BR | Kinepolis NV | 0.92% |
| 26 | MONT.BR | Montea NV | 0.90% |
| 27 | GIMB.BR | Gimv NV | 0.90% |
| 28 | COLR.BR | Colruyt Group NV | 0.84% |
| 29 | RECT.BR | Recticel SA | 0.82% |
| 30 | LKFT.AS | Lakefront Biother NV | 0.75% |

Source: etf.net, https://etf.net/etf/EWK. Please cite the page URL.