EWC
iShares MSCI Canada ETF
#4 of 13 in Developed Markets by own-history percentile (high → low)
Relative to SPY
Relative price history
EWC ÷ SPY, 10-year range, as of Sep 18, 2026
How the reading moved
These changes re-score an older EWC÷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: +13.0 pts (from 16.9% on Aug 31, 2026 to 29.9% now)
- About one month: +14.4 pts (from 15.5% on Jul 31, 2026 to 29.9% now)
Developed Markets
Where this sits among peers
Developed Markets · EWC highlighted · same axes as the category chart on the home page
Top holdings
Holdings snapshot as of Jul 17, 2026.
What moves this
EWC's index leans heavily on financials and energy, so its relative valuation moves closely with oil prices and North American interest-rate cycles — two forces that don't always point in the same direction, which can make this fund's relative price swing more than a quick 'commodity economy' label would suggest.
FAQ
Is Canada's market basically a play on oil prices?
Energy is a major component, but large banks make up an even bigger share of the index, so this fund reflects both commodity cycles and North American credit conditions.
How correlated is this fund with the US market?
Historically fairly correlated given deep economic ties, but the heavier energy and financials weighting means Canada can diverge from the S&P 500 during commodity-driven periods.
Does the Canadian dollar's moves affect this ETF?
Yes — CAD/USD swings, which themselves often track oil prices, add to this dollar-denominated fund's volatility beyond the underlying Canadian stock market's local performance.
Developed Markets