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FSZvsEWLETF Comparison

ETF 1

FSZ

First Trust Switzerland AlphaDEX Fund ETF

This fund is part of

Europe Blended Cap

-1.06%

Full FSZ fund page

VS

ETF 2

EWL

iShares MSCI Switzerland ETF

This fund is part of

Europe Blended Cap

-1.06%

Full EWL fund page

First Trust Switzerland AlphaDEX Fund ETF (FSZ) and iShares MSCI Switzerland ETF (EWL) belong to the same industry segment: Europe Blended Cap. FSZ's top 3 sector exposures are Finance, Industrials and Consumer Non-Cyclicals. In contrast, EWL's top sector exposures are Healthcare, Finance and Consumer Non-Cyclicals. FSZ is more expensive with a Total Expense Ratio (TER) of 0.8%, versus 0.5% for EWL. FSZ is up 1.18% year-to-date (YTD) with -$8M in YTD flows. EWL performs better with 5.51% YTD performance, and +$1.27B in YTD flows. Run a side-by-side ETF comparison of FSZ and EWL below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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FSZ vs EWL performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/16/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FSZ EWL	+3.38%+2.15%	-2.86%-0.41%	+1.18%+5.51%	+5.61%+9.65%	+47.15%+54.07%	+30.79%+41.23%
Flows	FSZ EWL	-+$451M	-+$750M	-$8M+$1.27B	-$47M+$1.37B	-$76M+$1.24B	-$78M+$987M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FSZ EWL	+13.32%+14.10%	+14.42%+15.64%	+14.32%+14.82%	+16.84%+16.01%
Max drawdown	FSZ EWL	-6.96%-9.06%	-10.68%-13.49%	-12.99%-13.56%	-33.92%-28.82%
Max drawdown duration	FSZ EWL	68d55d	229d156d	208d185d	921d925d

Trading data

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	FSZ	EWL
Last sale 10/20/2026 at 4:02 PM	$80.63	$62.89
Previous close 10/19/2026	$79.82	$62.01
Consolidated volume 10/19/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of September 30, 2026

1-year trailing difference

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	FSZ	EWL
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/20/2026 at 4:02 PM

Live

Closed

	FSZ	EWL
Last price	$80.63	$62.89
1D performance	+1.01%	+1.42%
AuM	$36.06 M	$2.88 B
E/R	0.8%	0.5%

Characteristics

	FSZ	EWL
Management strategy	Passive	Passive
Provider	First Trust	iShares
Benchmark	NASDAQ AlphaDEX Switzerland Index	MSCI Switzerland 25/50 Index
N° of holdings	32	38
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	February 14, 2012	March 12, 1996
ESG	No	No

More FSZ data on Trackinsight

More EWL data on Trackinsight

Exposure

Countries

FSZ

Switzerland

78.66%

Other

21.34%

EWL

Switzerland

98.94%

Other

1.06%

Sectors

FSZ

Finance

24.87%

Industrials

14.85%

Consumer Non-Cycl.

8.56%

Other

51.72%

EWL

Healthcare

37.06%

Finance

21.29%

Consumer Non-Cycl.

13.69%

Non-Energy Materi.

8.83%

Industrials

7.73%

Other

11.4%

Diversification

FSZ

Total weight of top 15 holdings out of 15

54.07%

EWL

Total weight of top 15 holdings out of 15

75.99%

Top 15 holdings

Data as of August 31, 2026

FSZ

Sulzer AG

5.05%

Swiss Re AG

4.69%

Vontobel Holding AG

4.31%

BKW AG

3.89%

ABB Ltd.

3.79%

Avolta AG

3.59%

Flughafen Zürich AG

3.52%

VAT Group AG

3.52%

PSP Swiss Property AG

3.44%

SFS Group AG

3.43%

Swisscom AG

3.43%

Emmi AG

3.26%

UBS Group AG

2.81%

DKSH Holding Ltd.

2.72%

Partners Group Holding AG

2.62%

EWL

Roche Holding AG

13.64%

Novartis AG

12.35%

Nestlé SA

11.06%

UBS Group AG

6.84%

Compagnie Financière Richemont SA

4.65%

Zurich Insurance Group AG

4.53%

ABB Ltd.

4.41%

Swiss Re AG

2.82%

Lonza Group AG

2.75%

Holcim Ltd.

2.45%

Galderma Group AG

2.18%

Givaudan SA

2.14%

Sika AG

2.13%

Alcon AG

2.06%

Sandoz Group AG

1.99%

Frequently asked questions about FSZ and EWL

How have the FSZ and EWL ETFs performed in 2026?

As of October 16, 2026, FSZ is up 1.18% year-to-date (YTD), while EWL has returned 5.51%. That puts EWL better performer ahead so far this year.

Which ETF is attracting more investor money: FSZ or EWL?

Year-to-date, the FSZ ETF saw -$8M in flows, compared to +$1.27B for EWL.

Which ETF is more volatile: FSZ or EWL?

Over the past year, FSZ had a volatility of 14.42%, while EWL experienced 15.64%.

Which ETF is bigger: FSZ or EWL?

As of October 16, 2026, FSZ holds $36.06 M in assets under management (AUM), while EWL manages $2.88 B.

What sectors do the FSZ and EWL ETFs invest in?

FSZ leans toward sectors like Finance, Industrials and Consumer Non-Cyclicals. Meanwhile, EWL focuses on Healthcare, Finance and Consumer Non-Cyclicals.

What are the top holdings of the FSZ ETF and EWL ETF?

FSZ top holdings include Sulzer AG, Swiss Re AG and Vontobel Holding AG. EWL holds in its top three: Roche Holding AG, Novartis AG and Nestlé SA.

Which ETF is more diversified: FSZ or EWL?

FSZ holds 32 securities with 54.07% of its assets in the top 15. EWL has 41 securities and a top 15 weight of 75.99%.

There’s an ETF for That? Switzerland

May 1, 2025

EWL

FSZvsEWLETF Comparison

First Trust Switzerland AlphaDEX Fund ETF

iShares MSCI Switzerland ETF

FSZ vs EWL performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the FSZ and EWL ETFs performed in 2026?

As of October 16, 2026, FSZ is up 1.18% year-to-date (YTD), while EWL has returned 5.51%. That puts EWL better performer ahead so far this year.

Which ETF is attracting more investor money: FSZ or EWL?

Year-to-date, the FSZ ETF saw -$8M in flows, compared to +$1.27B for EWL.

Which ETF is more volatile: FSZ or EWL?

Over the past year, FSZ had a volatility of 14.42%, while EWL experienced 15.64%.

Which ETF is bigger: FSZ or EWL?

As of October 16, 2026, FSZ holds $36.06 M in assets under management (AUM), while EWL manages $2.88 B.

What sectors do the FSZ and EWL ETFs invest in?

FSZ leans toward sectors like Finance, Industrials and Consumer Non-Cyclicals. Meanwhile, EWL focuses on Healthcare, Finance and Consumer Non-Cyclicals.

What are the top holdings of the FSZ ETF and EWL ETF?

FSZ top holdings include Sulzer AG, Swiss Re AG and Vontobel Holding AG. EWL holds in its top three: Roche Holding AG, Novartis AG and Nestlé SA.

Which ETF is more diversified: FSZ or EWL?

FSZ holds 32 securities with 54.07% of its assets in the top 15. EWL has 41 securities and a top 15 weight of 75.99%.

There’s an ETF for That? Switzerland

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