Global Idea: iShares MSCI Netherlands ETF

Research Notes For 19 to 23 May > https://www.unum.capital/post/r1923may

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The iShares MSCI Netherlands ETF (EWN) is an exchange-traded fund that seeks to track the investment results of a broad-based index composed of Dutch equities. It offers investors targeted access to the Dutch stock market.

Here's a summary of key aspects:

• Objective: To track the investment results of the MSCI Netherlands IMI 25/50 Index. This index measures the performance of large, mid, and small-capitalization segments of the Dutch equity market.

• Holdings: The ETF holds a basket of stocks of companies domiciled in the Netherlands. As of May 2025, top holdings include ASML Holding NV, ING Groep NV, and Prosus NV. The number of holdings is around 53-54.

• Sector Allocation: The fund is significantly weighted towards sectors like Technology, Financial Services, and Industrials.

• Expense Ratio: The gross expense ratio is 0.50%.

• Listing: It is listed on the NYSE Arca.

• Why EWN? It provides exposure to a broad range of companies in the Netherlands and can be used to express a single-country investment view.

In essence, EWN allows investors to easily invest in a diversified portfolio of Dutch stocks through a single security.

Price Action Model Reading: The short term overbought hence potential for a minor pullback. Long term: Positive.

Lester Davids

Senior Investment Analyst: Unum Capital