EWA
iShares MSCI Australia ETF
#12 of 13 in Developed Markets by own-history percentile (high → low)
Relative to SPY
Relative price history
EWA ÷ SPY, 10-year range, as of Sep 18, 2026
How the reading moved
These changes re-score an older EWA÷SPY ratio against today's 10-year window, so they show whether the relative price has drifted toward the highs or lows of its own history — not a peer ranking and not a return forecast.
- About one week: -4.4 pts (from 5.2% on Aug 31, 2026 to 0.8% now)
- About one month: -5.5 pts (from 6.3% on Jul 31, 2026 to 0.8% now)
Developed Markets
Where this sits among peers
Developed Markets · EWA highlighted · same axes as the category chart on the home page
Top holdings
Holdings snapshot as of Jul 17, 2026.
What moves this
EWA is a commodity-currency play as much as an equity fund: mining and financials dominate the index, and both the underlying earnings and the Australian dollar itself are sensitive to Chinese demand for iron ore and other resources.
FAQ
Why is Australia so tied to China?
Australia is a major exporter of iron ore and other resources to China, so Chinese industrial demand affects both the mining companies' earnings and the broader Australian economy and currency.
Are Australian banks a big part of this index too?
Yes — large domestic banks are one of the two dominant sectors in this index alongside materials/mining, giving the fund a mix of commodity and domestic-credit exposure.
Does the Australian dollar move independently of the local stock market?
The currency itself tends to track commodity-price and China-sentiment swings, which can amplify or dampen this dollar-denominated fund's moves relative to the underlying Australian equity market.
Developed Markets