UAE ETF: What Is It? – Returns, Expense Ratio, Holdings & Alternative ETFs
The iShares MSCI United Arab Emirates ETF (UAE) is a single-country passive product that invests in the UAE stock market. Key selection criteria include its semi-annual dividend, single-country concentration structure, and differences in country exposure and concentration versus related single-country funds such as EWU, EWG, and EWP.
SubscribeWhat Is the iShares MSCI United Arab Emirates ETF?
It is a single-country passive ETF that tracks an index composed of large- and mid-cap companies listed on the United Arab Emirates (UAE) stock exchange. It provides exposure to the Dubai and Abu Dhabi markets, concentrating investments in one Middle Eastern country.
It is well suited for investors who want focused exposure to the UAE market while accepting the volatility and currency risk inherent in a single-country, emerging-markets structure.
The fund is a passive (index-tracking) ETF managed by iShares.
How Does the iShares MSCI United Arab Emirates ETF Invest?
| Item | Details |
|---|---|
| Investment Target | UAE equities |
| Management Style | Passive (index tracking) |
| Markets | Dubai and Abu Dhabi stock exchanges |
| Dividend Frequency | Semi-annual |
| Total Expense Ratio | 0.59% |
The fund tracks an MSCI index composed of large- and mid-cap companies listed on the UAE stock exchange. Because it is concentrated in a single country, sector weights in financials and real estate tend to be heavy, and its returns are driven by that country's economy and policies as well as oil-price dynamics.
- Concentrated exposure to a single country: the United Arab Emirates
- Exposure to the Dubai and Abu Dhabi markets
Size and Cost of the iShares MSCI United Arab Emirates ETF (AUM and Expense Ratio)
Assets under management (AUM) stand at $300.5M, and the total expense ratio is 0.59% annually.
Compared with emerging-markets ETFs that diversify across multiple countries, the key comparison point is its single-country concentration in the UAE.
Performance and Flow Trends of the iShares MSCI United Arab Emirates ETF
1-Year Price Performance
Dividend & Yield
52-Week Price RangeUAE equities are driven by oil prices, Middle East geopolitical conditions, the real-estate cycle, and foreign capital flows. They tend to strengthen when oil prices are firm or when economic-diversification optimism builds, and to weaken when oil prices fall or geopolitical tensions escalate. As a single-country fund, volatility tends to be high.
Single-country emerging markets see inflows and outflows shift with oil prices, risk appetite, and foreign-fund flows, and capital can rotate into related products when interest in Middle East markets rises. Performance can vary materially with oil-price and geopolitical conditions, which is also worth examining.
Strengths and Weaknesses of the iShares MSCI United Arab Emirates ETF
Focused UAE exposure is both its strength and its risk. Single-country volatility, sector concentration, and sensitivity to oil prices and geopolitical developments are key considerations.
💪 Key Strengths
⚠️ Points to Watch
Alternative ETFs and Related Products for the iShares MSCI United Arab Emirates ETF
For exposure to other developed single-country markets, direct alternatives include EWU for the United Kingdom, EWG for Germany, and EWP for Spain. All three invest in developed European single-country markets, differing from this fund in target country and market character. This ETF's distinguishing feature is its single-country concentration in the UAE.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 EWC | iShares MSCI Canada ETF | $60.62 | -1.5% | $7.7B | 0.50% | 1.24% | +19.6% |
 EWU | iShares MSCI United Kingdom ETF | $47.83 | +0.3% | $3.7B | 0.50% | 3.13% | +11.9% |
 EWL | iShares MSCI Switzerland ETF | $64.37 | +0.4% | $3.0B | 0.50% | 1.69% | +15.8% |
 EWP | iShares MSCI Spain ETF | $56.33 | -1.2% | $2.0B | 0.50% | 2.95% | +12.0% |
 EWG | iShares MSCI Germany ETF | $41.88 | -1.3% | $1.6B | 0.49% | 1.99% | +2.1% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| BNS | Bank Of Nova Scotia | 0.00% | $93.76 | -1.7% | $115.5B | 17.0 | 3.44% |
| BNY | Bank Of New York Mellon Corp | 0.00% | $147.11 | -1.5% | $99.8B | 16.3 | 1.58% |
 BMRC | Bank of Marin Bancorp | 0.00% | $28.37 | -1.5% | $460.5M | - | 3.52% |
Investor Checklist for the iShares MSCI United Arab Emirates ETF
Points to review before investing in UAE. While the fund's concentrated UAE exposure is appealing, single-country volatility, sector concentration, and sensitivity to oil prices and geopolitical developments warrant pre-investment review. It is also advisable to compare this fund with diversified emerging-markets products and other single-country funds.
| Checkpoint | What to Verify | Current Status |
|---|---|---|
| 🇦🇪 Country Exposure | Review UAE market composition | Single country |
| 🏦 Sector Concentration | Check weights in financials and real estate | Concentrated |
| 🛢️ Oil and Geopolitics | Monitor oil prices and Middle East geopolitical conditions | Relatively sensitive |
| 💱 Currency | Review currency exposure | Requires verification |
Oil-price weakness, Middle East geopolitical instability, and real-estate slowdowns are the main drivers of performance. Concentration in a single country and in specific sectors results in greater volatility than diversified products. Sharp drawdowns are possible during geopolitical shock events.
This ETF is a suitable candidate for investors seeking concentrated exposure to the UAE market. For exposure to developed European single-country markets, compare with products such as EWU and EWG; for UAE exposure, compare with this fund to choose the most appropriate option.
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 10, 2026.
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