Skip to content
etf.net

EWL vs EZU

iShares MSCI Switzerland ETF

EWLBNYSE Arca

iShares MSCI Eurozone ETF

EZUACboe

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

EWL0.50%EZU0.50%

Avg volume · 30D

EZU 1.9×the volume

EWL502KEZU977K

10Y return · a year

EWL +1.0pt

EWL+10.5%EZU+9.5%

EWL vs EZU Performance

Oct 29, 2021 – Oct 30, 2026

+42.7%EWL+49.7%EZU

Oct 29, 2021 to Oct 30, 2026. EWL +42.7%. EZU +49.7%. Use the arrow keys to read each point.−20%0%20%Oct 2021Apr 2024Oct 2026
Expense ratio
EWL 0.50%
EZU 0.50%
Fund size
EWL $3.02B
EZU $9.13B
1Y total return
EWL +18.3%, better
EZU +7.7%
Yield (12M)
EWL 1.69%
EZU 2.83%, better
Holdings
EWL 44
EZU 220
Avg volume (30D)
EWL 502K sh
EZU 977K sh, better
NAV per share
EWL $64.27
EZU $65.37
52W range

ETF.net Grade

EWL: Cost 59, Risk 67, Mission 73, Tradability 74, Holdings 29, Durability 78. EZU: Cost 59, Risk 46, Mission 100, Tradability 89, Holdings 72, Durability 81.
Pillar letters and Scores for EWL, EZU, with each pillar’s weight
PillarEWLEZU
Cost30% weightB59B59
Mission25% weightA73A100Higher
Risk15% weightB67HigherC46
Tradability15% weightA74A89Higher
Holdings10% weightD29A72Higher
Durability5% weightA78A81Higher

Rank among Europe Region funds

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

Same Category. EWL and EZU are both graded against the same 12 Europe Region funds, so their Grades compare head to head.

Europe Region⁠

Category · 12 funds
See all 12 ›

EZU ranks 2nd and EWL 6th of 12 funds in the Europe Region Category.

  1. Rank 1ASPEUState Street SPDR Portfolio Europe ETFScore 85
  2. Rank 2AEZUiShares MSCI Eurozone ETFScore 74
  3. Rank 3AFLEUFranklin FTSE Eurozone ETFScore 73
  4. Rank 6BDAXGlobal X DAX Germany ETFScore 64
  5. Rank 6BEWLiShares MSCI Switzerland ETFScore 64
  6. Rank 8BEWDiShares MSCI Sweden ETFScore 59

Our read on each fund

ETF.net Research

EWLBiShares MSCI Switzerland ETF

EZUAiShares MSCI Eurozone ETF

In short

EWL One US-listed ticker for Switzerland's blue chips: roughly 40 names, franc exposure included, running since 1996. A concentrated slice of a defensive market rather than a broad Europe fund.

EZU Europe minus the UK, Switzerland and the Nordics. EZU holds only developed countries that use the euro, about 220 large and mid caps, and it has been doing that job since 2000.

Stated mandate

EWL The fund seeks to track the MSCI Switzerland 25/50 Index (Net), an index representing Swiss equities.

EZU The fund seeks to track an index of large- and mid-cap equities from developed countries that use the euro, providing diversified Eurozone equity exposure.

Why people hold it

  • EWL 0.50% a year, below the median fee in its single-country Europe peer group.
  • Listed since 1996 and now a multi-billion-dollar fund that trades at a moderate clip. Not a thin, fragile ticker.
  • Plain wiring: it tracks the capped MSCI Switzerland 25/50 index, no currency hedge and no factor tilt bolted on.
  • Ranks in the upper half of its single-country Europe cohort, ahead of hedged and factor-tilted takes on the region.
  • EZU The euro-only cut of Europe: the MSCI EMU index covers large and mid caps in developed countries inside the currency union, so no UK, Swiss or Nordic names ride along.msci.com
  • Trading since 2000 and now a multi-billion-dollar, actively traded fund, one of the established ways to own the Eurozone through a single US-listed ticker.
  • Roughly 220 stocks reaching about 85% of the euro bloc's free-float market value: the whole currency union, not a country or sector wager.msci.com
  • Tracking is the strong suit here. It has followed its benchmark closely, which is most of the job description for a plain index wrapper.

Worth knowing

  • EWL Roughly 40 stocks, and the index's capping rules only limit how far the biggest names run. Concentration is the price of pure Swiss exposure.
  • No currency hedge, so Swiss franc moves against the dollar flow straight into results, unlike hedged cousins such as HEDJ.
  • Single-country funds carry single-country fees: 0.50% is friendly for this group, but the cheapest name in it, DAX, runs 0.20%.
  • EZU 0.50% a year sits above the 0.45% median for index wrappers in its group and far above global one-fund options like VT at 0.06%.
  • Currency comes with the package. The euro's moves against the dollar flow straight into your dollar return; iShares runs HEZU on the same index for the hedged version.ishares.com
  • Large and mid caps only. Eurozone small caps and non-euro Europe (UK, Switzerland) sit outside the mandate by design.msci.com

Full EWL profile⁠

Full EZU profile⁠

EWL vs EZU 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.

EWL vs EZU Cost

Same expense ratio

$9,979

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

  • EWL 0.50%

    $9,979

  • EZU 0.50%

    $9,979

$10,000
30 years

Cost over time

  • EWL 0.50%
  • EZU 0.50%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530EWL $9,979EZU $9,979

Year by year

YearEWLEZU
10$900$900
20$3,460$3,460
30$9,979$9,979

Expense ratio

  • 0.50%EWL
  • 0.50%EZU
  • Middle half of Europe Region funds
  • Median 0.51%

EWL 5th cheapest of 12 funds

EZU 5th cheapest of 12 funds

EWL vs EZU Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
EWL 1.69%
EZU 2.83%, better
Payout (12M)
EWL $1.09
EZU $1.84
Last payment
EWL $1.09
EZU $1.23
Ex-dividend
EWL Jun 15, 2026
EZU Jun 15, 2026
Paid on
EWL Jun 18, 2026
EZU Jun 18, 2026
Frequency
EWL Annual
EZU Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

EWLAnnual · 11 paymentsAll EWL payments⁠
One bar per payment. 11 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.73; Jun 19, 2018 $0.81; Jun 17, 2019 $0.75; Jun 15, 2020 $0.62; Dec 14, 2020 $0.02; Jun 10, 2021 $0.92; Jun 9, 2022 $0.86; Jun 7, 2023 $1.02; Jun 11, 2024 $1.02; Jun 16, 2025 $1.02; Jun 15, 2026 $1.09. Use the arrow keys to read each point.$0$12017202020232026YTD
EZUTwice a year · 20 paymentsAll EZU payments⁠
One bar per payment. 20 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.64; Dec 19, 2017 $0.19; Jun 19, 2018 $1.03; Dec 18, 2018 $0.19; Jun 17, 2019 $1.02; Dec 16, 2019 $0.17; Jun 15, 2020 $0.32; Dec 14, 2020 $0.62; Jun 10, 2021 $0.48; Dec 13, 2021 $0.60; Dec 30, 2021 $0.12; Jun 9, 2022 $0.93; Dec 13, 2022 $0.17; Jun 7, 2023 $0.86; Dec 20, 2023 $0.35; Jun 11, 2024 $1.04; Dec 17, 2024 $0.33; Jun 16, 2025 $1.22; Dec 16, 2025 $0.61; Jun 15, 2026 $1.23. Use the arrow keys to read each point.$0$12017202020232026YTD

EWL vs EZU Risk

Fall from peak · 5 years

  • EWL
  • EZU
Oct 29, 2021 to Oct 30, 2026. Worst fall: EZU −36.0% · Sep 2022. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
EWL 15.3%EZU 13.9%, better
Return per unit of riskSharpe ratio, 3 years
EWL 0.85EZU 1.06, better
Worst fallMax drawdown, 5 years
EWL −29.0%, betterEZU −36.0%
Market sensitivityBeta, 5 years
EWL 0.90EZU 0.91

EWL and EZU in the news

All news⁠

Popular comparisons

  • EWLBvsSPEUA

    iShares MSCI Switzerland ETF · State Street SPDR Portfolio Europe ETF

    Expense ratio
    0.50% · 0.07%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • EZUAvsSPEUA

    iShares MSCI Eurozone ETF · State Street SPDR Portfolio Europe ETF

    Expense ratio
    0.50% · 0.07%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • EWLBvsFLEUA

    iShares MSCI Switzerland ETF · Franklin FTSE Eurozone 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.

  • EZUAvsFLEUA

    iShares MSCI Eurozone ETF · Franklin FTSE Eurozone 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.

  • EWLBvsFEZA

    iShares MSCI Switzerland ETF · State Street SPDR EURO STOXX 50 ETF

    Expense ratio
    0.50% · 0.29%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • EZUAvsFEZA

    iShares MSCI Eurozone ETF · State Street SPDR EURO STOXX 50 ETF

    Expense ratio
    0.50% · 0.29%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.