EWA: iShares MSCI Australia ETF returns, drawdowns and risk
Funds on developed markets outside the United States: Europe, Japan, Australia, Canada.
Data updated October 2026
EWA · US exchange · USDCategory: International developed markets ETFsData from October 2006
From October 2006 to October 2026 EWA returned 6.0% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $32,111.
Its deepest fall was 67.0%, from October 2007 to November 2008, and it took about 63 months to get back to the previous high. Annual volatility was 27.6%; at the last close it was 4.2% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 240 months both have data, the correlation of monthly returns was 0.79: they usually moved together. Beta was 1.17. In months when SPY rose, EWA moved 104% as much on average; in months when SPY fell, 128% as much.
Key figures
- Annual return (CAGR)
- +6.0%
- 1-year return
- +10.3%
- 5 years, a year
- +6.1%
- 10 years, a year
- +7.8%
- Annual volatility
- 27.6%
- Maximum drawdown
- −67.0%
- Sharpe ratio
- 0.29
- Worst year
- 2008: −48.0%
Trailing returns
| Period | EWA | SPY |
|---|---|---|
| 1 year | +10.3% | +16.6% |
| 3 years, a year | +16.1% | +23.1% |
| 5 years, a year | +6.1% | +12.7% |
| 10 years, a year | +7.8% | +15.4% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: EWA vs SPY
Month-end values from November 2006, the first month both funds have data.
EWA drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | EWA | SPY |
|---|---|---|
| 2026(partial) | +12.9% | +13.3% |
| 2025 | +13.4% | +17.7% |
| 2024 | +1.6% | +24.9% |
| 2023 | +13.8% | +26.2% |
| 2022 | −5.8% | −18.2% |
| 2021 | +8.9% | +28.7% |
| 2020 | +8.3% | +18.3% |
| 2019 | +22.4% | +31.2% |
| 2018 | −12.0% | −4.6% |
| 2017 | +19.9% | +21.7% |
| 2016 | +11.1% | +12.0% |
| 2015 | −9.9% | +1.2% |
| 2014 | −4.6% | +13.5% |
| 2013 | +1.8% | +32.3% |
| 2012 | +24.0% | +16.0% |
| 2011 | −11.6% | +1.9% |
| 2010 | +15.3% | +15.1% |
| 2009 | +68.2% | +26.4% |
| 2008 | −48.0% | −36.8% |
| 2007 | +27.8% | +5.1% |
| 2006(partial) | +10.2% | — |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of EWA?
From October 2006 to October 2026 EWA returned 6.0% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: +6.1% a year. Over the last 12 months: +10.3%.
What was the worst drawdown of EWA?
67.0%, from October 2007 to November 2008; it took about 63 months from the previous high to get back to it.
How volatile is EWA?
Annual volatility was 27.6% over the period. Its worst month was −27.0% and 59% of months were positive. Worst calendar year: 2008 (−48.0%).
How closely does EWA follow SPY?
Over 240 months the correlation of monthly returns was 0.79, so they usually moved together, with a beta of 1.17.
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Other International developed markets ETFs
- All International developed markets ETFsReturns and risk side by side
- VXUS — Vanguard Total International Stock ETFCAGR +6.5%
- VEA — Vanguard FTSE Developed Markets ETFCAGR +12.9%
- IEFA — iShares Core MSCI EAFE ETFCAGR +8.3%
- EFA — iShares MSCI EAFE ETFCAGR +5.1%
- IXUS — iShares Core MSCI Total International Stock ETFCAGR +7.7%
- SCZ — iShares MSCI EAFE Small-Cap ETFCAGR +5.4%
- VSS — Vanguard FTSE All-World ex-US Small-Cap ETFCAGR +10.8%
- EWJ — iShares MSCI Japan ETFCAGR +6.8%
- EWC — iShares MSCI Canada ETFCAGR +6.8%
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.