Skip to content
etf.net

EFNL vs EWC

iShares MSCI Finland ETF

EFNLCCboe

iShares MSCI Canada ETF

EWCANYSE Arca

Overlap

Expense ratio

EWC −0.03pt a year

EFNL0.53%EWC0.50%

Avg volume · 30D

EWC 38.5×the volume

EFNL43.7KEWC1.68M

10Y return · a year

EWC +2.9pt

EFNL+8.5%EWC+11.4%

EFNL vs EWC Performance

Oct 29, 2021 – Oct 30, 2026

+27.1%EFNL+71.2%EWC

Oct 29, 2021 to Oct 30, 2026. EFNL +27.1%. EWC +71.2%. Use the arrow keys to read each point.−20%0%40%Oct 2021Apr 2024Oct 2026
Expense ratio
EFNL 0.53%
EWC 0.50%, better
Fund size
EFNL $384M
EWC $7.58B
1Y total return
EFNL +10.8%
EWC +21.1%, better
Yield (12M)
EFNL 1.08%
EWC 1.24%, better
Holdings
EFNL 37
EWC 83
Avg volume (30D)
EFNL 43.7K sh
EWC 1.68M sh, better
NAV per share
EFNL $49.83
EWC $60.62
52W range

ETF.net Grade

EFNL: Cost 30, Risk 42, Mission 78, Tradability 42, Holdings 34, Durability 69. EWC: Cost 55, Risk 87, Mission 90, Tradability 97, Holdings 78, Durability 80.
Pillar letters and Scores for EFNL, EWC, with each pillar’s weight
PillarEFNLEWC
Cost30% weightD30B55Higher
Mission25% weightA78A90Higher
Risk15% weightC42A87Higher
Tradability15% weightC42A97Higher
Holdings10% weightD34A78Higher
Durability5% weightB69A80Higher

Rank among Developed Single Country funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. EFNL and EWC are both graded against the same 38 Developed Single Country funds, so their Grades compare head to head.

Developed Single Country⁠

Category · 38 funds
See all 38 ›

EWC ranks 1st and EFNL 22nd of 38 funds in the Developed Single Country Category.

  1. Rank 1AEWCiShares MSCI Canada ETFScore 78
  2. Rank 1AFLCAFranklin FTSE Canada ETFScore 78
  3. Rank 21CEWKiShares MSCI Belgium ETFScore 50
  4. Rank 22CEFNLiShares MSCI Finland ETFScore 47
  5. Rank 22CENZLiShares MSCI New Zealand ETFScore 47

Our read on each fund

ETF.net Research

EFNLCiShares MSCI Finland ETF

EWCAiShares MSCI Canada ETF

In short

EFNL One ticker for the whole Finnish market: roughly 30 names through a capped MSCI index, run by iShares since 2012. A corner of Europe that barely registers inside broad developed-market funds.

EWC A 1996 original: Canada's large and mid caps in one ticker, back when single-country funds were still a novelty. About 80 names, held through a capped MSCI index built so one giant can't swamp the basket.

Stated mandate

EFNL The Fund seeks to follow a broad-based index of Finnish equities, providing exposure across the Finnish equity market.

EWC The fund seeks to track an index representing Canadian equities, providing exposure to large- and mid-sized companies in Canada.

Why people hold it

  • EFNL Pure Finland exposure in a single US-listed ticker, a market that broad Europe funds hold only in slivers. iShares has run it since 2012.ishares.com
  • Tracks the IMI version of MSCI's Finland index, reaching past the largest Helsinki names into mid and small caps, with 25/50 capping limiting how heavy any one stock gets.ishares.com
  • Sticks tightly to its stated Finnish-equity mandate and sits in the upper half of its developed single-country peer group.
  • EWC Running since 1996, which makes it one of the oldest US-listed ETFs still trading, and it is a multi-billion-dollar fund today.
  • Tracks the MSCI Canada Custom Capped Index closely, one of the tighter index-following records in its single-country developed peer group.ishares.com
  • Actively traded with among the easiest fills in its peer group, so the cost of getting in and out stays modest.
  • The capped index trims outsized single-name weights, so roughly 80 holdings stay a basket rather than a wager on two or three giants.ishares.com

Worth knowing

  • EFNL The 0.53% fee sits a touch above the typical developed single-country ETF and well above cohort bargains like FLKR and FLAU at 0.09%.
  • About 30 stocks in one small economy: individual names and sector swings land harder here than in a broad Europe fund, capping rules included.
  • Mid-sized and moderately traded rather than a liquidity giant. The holdings price in euros, so the currency move rides along with the stocks.
  • EWC At 0.50%, the fee sits right at the median for single-country developed funds, and cheaper Canada exposure exists: BBCA runs 0.19%.
  • One country, about 80 stocks: a concentrated slice of the world, with Canadian dollar moves riding along in your US-dollar return.ishares.com
  • Distributions land once or twice a year rather than monthly or quarterly, so income arrives in lumps.

Full EFNL profile⁠

Full EWC profile⁠

EFNL vs EWC Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EFNL vs EWC Cost

Overpaying EFNL vs EWC

$557

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • EFNL 0.53%

    $10,536

  • EWC 0.50%

    $9,979

$10,000
30 years

Cost over time

  • EFNL 0.53%
  • EWC 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530EFNL $10,536EWC $9,979

Year by year

YearEFNLEWCOverpaying
10$953$900$53
20$3,658$3,460$198
30$10,536$9,979$557

Expense ratio

  • 0.53%EFNL
  • 0.50%EWC, cheaper
  • Middle half of Developed Single Country funds
  • Median 0.50%

EWC 14th cheapest of 38 funds

EFNL 26th cheapest of 38 funds

EFNL vs EWC Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
EFNL 1.08%
EWC 1.24%, better
Payout (12M)
EFNL $0.54
EWC $0.75
Last payment
EFNL $0.29
EWC $0.28
Ex-dividend
EFNL Jun 15, 2026
EWC Jun 15, 2026
Paid on
EFNL Jun 18, 2026
EWC Jun 18, 2026
Frequency
EFNL Twice a year
EWC Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

EFNLTwice a year · 19 paymentsAll EFNL payments⁠
One bar per payment. 19 payments from 2017 to 2026 YTD. Jun 20, 2017 $1.15; Dec 19, 2017 $0.16; Jun 19, 2018 $1.35; Dec 18, 2018 $0.008; Jun 17, 2019 $1.52; Dec 16, 2019 $0.66; Jun 15, 2020 $0.73; Dec 14, 2020 $0.57; Jun 10, 2021 $0.80; Dec 13, 2021 $0.29; Jun 9, 2022 $2.05; Dec 13, 2022 $0.18; Jun 7, 2023 $0.77; Dec 20, 2023 $0.77; Jun 11, 2024 $1.22; Dec 17, 2024 $0.41; Jun 16, 2025 $1.37; Dec 16, 2025 $0.26; Jun 15, 2026 $0.29. Use the arrow keys to read each point.$0$22017202020232026YTD
EWCTwice a year · 19 paymentsAll EWC payments⁠
One bar per payment. 19 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.22; Dec 19, 2017 $0.37; Jun 19, 2018 $0.22; Dec 18, 2018 $0.41; Jun 17, 2019 $0.25; Dec 16, 2019 $0.39; Jun 15, 2020 $0.26; Dec 14, 2020 $0.39; Jun 10, 2021 $0.23; Dec 13, 2021 $0.48; Jun 9, 2022 $0.28; Dec 13, 2022 $0.49; Jun 7, 2023 $0.35; Dec 20, 2023 $0.49; Jun 11, 2024 $0.35; Dec 17, 2024 $0.55; Jun 16, 2025 $0.31; Dec 16, 2025 $0.47; Jun 15, 2026 $0.28. Use the arrow keys to read each point.$0$22017202020232026YTD

EFNL vs EWC Risk

Fall from peak · 5 years

  • EFNL
  • EWC
Oct 29, 2021 to Oct 30, 2026. Worst fall: EFNL −34.0% · Sep 2022. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
EFNL 15.8%EWC 13.1%, better
Return per unit of riskSharpe ratio, 3 years
EFNL 1.00EWC 1.54, better
Worst fallMax drawdown, 5 years
EFNL −34.0%EWC −24.8%, better
Market sensitivityBeta, 5 years
EFNL 0.88EWC 0.88Same figure. Both funds show the same value, so neither comes out ahead.

EFNL and EWC in the news

All news⁠

Popular comparisons

  • EFNLCvsFLCAA

    iShares MSCI Finland ETF · Franklin FTSE Canada ETF

    Expense ratio
    0.53% · 0.09%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • EWCAvsFLCAA

    iShares MSCI Canada ETF · Franklin FTSE Canada ETF

    Expense ratio
    0.50% · 0.09%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • EFNLCvsFLGBA

    iShares MSCI Finland ETF · Franklin FTSE United Kingdom ETF

    Expense ratio
    0.53% · 0.09%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • EWCAvsFLGBA

    iShares MSCI Canada ETF · Franklin FTSE United Kingdom ETF

    Expense ratio
    0.50% · 0.09%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • EFNLCvsBBCAA

    iShares MSCI Finland ETF · JPMorgan BetaBuilders Canada ETF

    Expense ratio
    0.53% · 0.19%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • EWCAvsBBCAA

    iShares MSCI Canada ETF · JPMorgan BetaBuilders Canada ETF

    Expense ratio
    0.50% · 0.19%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.