What Is the EWO ETF? A Complete Guide to Returns, Expense Ratio, Holdings and Alternative ETFs
The iShares MSCI Austria ETF (EWO) is a single-country ETF that tracks the Austrian stock market. Its concentration in financials, energy and industrials, along with currency exposure, liquidity, the expense ratio and dividends, are the key selection criteria, and it is used as a regional ETF for diversifying across Europe.
SubscribeWhat Is the iShares MSCI Austria ETF?
This single-country ETF tracks the MSCI Austria Index and invests in stocks listed in Austria. It uses a market-cap-weighted approach to hold a broad range of local large- and mid-cap stocks.
It suits investors who want to diversify by individual European country or gain exposure to the Austrian economy.
It is a passive (index-tracking) ETF managed by iShares.
How Does the iShares MSCI Austria ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | MSCI Austria Index |
| Management Style | Passive (index tracking) |
| Rebalancing Frequency | Quarterly |
| Dividend Frequency | Semiannual |
| Issuer | iShares |
| Total Expense Ratio | 0.49% |
The fund holds stocks listed on the Austrian market in proportion to their market capitalization, tracking the performance of that country's stock market as a whole. Because it concentrates on a single country, the number of holdings is limited, and specific sectors such as financials, energy and industrials carry large weightings.
- Single-country exposure to Austria through a US-listed fund
- Convenient access to assets denominated in local currency
iShares MSCI Austria ETF Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) stand at $180.3M, and the total expense ratio is 0.49% per year.
Because it holds fewer stocks than broad European ETFs, the impact of individual stock and sector movements can be relatively large.
iShares MSCI Austria ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeBecause it tracks a single-country index, it rises and falls with the Austrian economy and the broader European business cycle. With heavy weightings in financials and industrials, it tends to show volatility tied to conditions in those industries.
Fund flows move in and out depending on demand for regional and country-level diversification, and the fund reacts sensitively to the European economy and currency conditions. By the nature of single-country ETFs, asset size and trading flows tend to be more limited than for broad ETFs.
iShares MSCI Austria ETF Pros and Cons
Its strength is easy exposure to a single country, Austria, while sector concentration and currency fluctuations work as drawbacks.
💪 Key Strengths
⚠️ Points to Watch
iShares MSCI Austria ETF Alternatives and Related Products
Comparable products in the same European single-country category shown in the table include the UK's EWU, Switzerland's EWL, Spain's EWP and Germany's EWG, and Canada's EWC also belongs to the same MSCI single-country series. To diversify more broadly across Europe, you can also consider EZU, a eurozone broad-market ETF, or VGK, which invests in developed European markets as a whole.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 EWC | iShares MSCI Canada ETF | $60.13 | -0.6% | $7.6B | 0.50% | 1.25% | +16.2% |
 EWU | iShares MSCI United Kingdom ETF | $47.76 | -0.1% | $3.7B | 0.50% | 3.13% | +9.8% |
 EWL | iShares MSCI Switzerland ETF | $64.90 | +0.0% | $3.1B | 0.50% | 1.68% | +11.8% |
 EWP | iShares MSCI Spain ETF | $59.63 | -0.5% | $2.1B | 0.50% | 2.79% | +13.5% |
 EWG | iShares MSCI Germany ETF | $42.81 | -0.5% | $2.1B | 0.49% | 1.94% | +2.7% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 EEA | European Equity Fund Inc | 0.00% | $10.54 | -0.2% | $72.2M | - | 9.18% |
 ESEA | Euroseas Ltd | 0.00% | $67.05 | +1.3% | $440.9M | 3.5 | 4.77% |
iShares MSCI Austria ETF Investor Checkpoints
Here are the points to review before investing in EWO. Because single-country ETFs offer limited diversification, it is wise to thoroughly check sector concentration, currency exposure and liquidity in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Cumulative costs over a long holding period | Annual fee applies |
| 📊 Sector Concentration | Trend in financials and industrials weightings | Large weighting in specific sectors |
| 💧 Liquidity | Trading volume and bid-ask spread | Needs checking |
| 💱 Currency | Impact on returns converted to dollars and euros | No currency hedge applied |
Due to sector concentration and a limited number of holdings, the impact of individual industry and company moves can be larger than for broad ETFs. Currency and the European economic cycle are also major drivers of short-term volatility.
It is a convenient vehicle for investors who want exposure to the single country of Austria. To broaden diversification across Europe, broad ETFs such as EZU and VGK can serve as alternatives.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 26, 2026.
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