iShares MSCI Germany ETF (EWG) is a Europe-focused ETF. As of October 9, 2026, ETF Copilot scores EWG 3.5 out of 10 — highest on Growth (5.5), lowest on Value (2.1). It trades at 16.1 times earnings, against its own median of 14.7. Its ten largest holdings are 64% of the fund.
What stands out in EWG's data
German large- and mid-cap equities, from automakers to industrials.
Trades at a richer price than most European peers — you pay more for the same earnings.
Its 11.6x EBITDA multiple is among the most expensive in the group, above the 10.3x peer median, and its 21.1% EBITDA margin trails the typical peer.
A single-country position in Europe's largest economy, for a portfolio that already holds broad European exposure.
Why did EWG move this week? It fell 0.8% in the week to October 9, 2026 — Deutsche Telekom and Siemens drove it
EWG fell 0.8% in the week to October 9, 2026. The holdings that moved it most were Deutsche Telekom (−7.3%), Siemens (−1.7%) and MTU Aero Engines (−6.0%); SAP (+3.8%) pushed the other way.
How is EWG rated? ETF Copilot scores iShares MSCI Germany ETF (EWG) 3.5 out of 10
As of October 9, 2026, ETF Copilot scores iShares MSCI Germany ETF (EWG) 3.5 out of 10 overall.
ETF Copilot scores (0–10 scale, higher is better):
- Overall: 3.5 / 10
- Growth: 5.5 / 10
- Value: 2.1 / 10
- Risk: 2.7 / 10
- Quality: 3.7 / 10
- Return: 2.8 / 10
Is EWG expensive right now? It trades at 16.1 times earnings, against its own median of 14.7
As of October 9, 2026, EWG is more expensive than 67% of its own last 9 years.
Trailing 12 months, built from EWG's holdings. How we calculate this →
What's inside EWG? 17% Tech
What's inside EWG: Size (Large 89%, Mid 11%, Small 0%); Geography (International 100%, US 0%); Tech 16.7%; AI 2.4%; Semiconductors 4.9%; Memory 4.9%.
What are EWG's top holdings? The ten largest are 64% of the fund
Siemens, SAP, Allianz, Siemens Energy, Deutsche Telekom, Infineon Technologies, Muenchener Rueckversicherungs-Gese, Deutsche Boerse, Deutsche Bank and DHL are EWG's largest holdings, in that order.
More concentrated than 72% of Europe ETFs.
Half of EWG's weight sits in its 6 largest positions, and once those weights are taken into account it behaves like 18 equally weighted holdings.
What is EWG's expense ratio? 0.49% a year
As of October 9, 2026, EWG charges 0.49% a year, yields 2.03% and holds $1.4B in assets across 53 positions.
| Measure | EWG |
|---|---|
| Expense ratio | 0.49% |
| Dividend yield | 2.03% |
| Assets under management | $1.4B |
| Holdings | 53 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
Cite this
ETF Copilot, “iShares MSCI Germany ETF (EWG) scores and holdings analysis”, as of October 9, 2026.
https://etf-copilot.com/etf/ewg
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