EWU(EWU)
AI Look-Through Summary
AI GeneratedThe iShares MSCI UK UCITS ETF (EWU) maintains a substantial asset base of $3.3 billion, reflecting significant capital allocation toward the United Kingdom equity market. The fund's portfolio is characterized by a pronounced concentration in its largest positions, with the top three holdings collectively accounting for nearly 27% of total assets under management. This heavy weighting in HSBC Holdings, AstraZeneca, and Shell suggests that performance will be highly sensitive to developments within banking, pharmaceuticals, and energy sectors respectively. The presence of these specific industry leaders indicates a tilt toward mature, large-cap entities rather than small or mid-capitalization growth stocks, which inherently influences the fund's volatility profile relative to broader market indices.
Geographically, the structure is exclusively focused on UK-listed equities, eliminating any direct exposure to other international markets through this single vehicle. The top ten holdings demonstrate a clear sectoral bias where financial services and healthcare dominate alongside traditional energy and industrial names. Notably, the inclusion of major oil producers like Shell and BP highlights an embedded sensitivity to global commodity price fluctuations, while strong representation from pharmaceutical giants such as AstraZeneca underscores exposure to regulatory environments within the British medical landscape. The lack of diversification beyond these primary sectors means that idiosyncratic risks associated with any single holding carry disproportionate weight in the overall portfolio variance.
Quantitatively, the fund offers investors a streamlined gateway to large-cap UK equities without requiring direct access to London-based trading venues or currency hedging mechanisms inherent in some global mandates. The sheer size of individual positions relative to the total AUM implies that capital flows into or out of these specific companies will have an amplified effect on the ETF's net asset value compared to more broadly diversified funds. Consequently, this instrument serves as a concentrated proxy for the performance of Britain's most established corporate leaders, making it particularly relevant for portfolios seeking targeted exposure to the UK economy's core pillars while accepting higher idiosyncratic risk in exchange for sector-specific upside potential.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-20 11:43:57.680133+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 95/100The investment profile of EWU demonstrates a highly coherent alignment with its stated theme as the FTSE UK All Cap ex-Financials Index ETF. The top ten holdings are dominated by established industrial, consumer goods, and healthcare entities such as HSBC Holdings (notably excluded from financials in this specific index construction), AstraZeneca, Shell, Rio Tinto, and GlaxoSmithKline. These names represent core sectors outside the banking and insurance industries, which effectively filters out pure financial services exposure while maintaining broad representation across non-financial UK equities. There is no evidence of unrelated holdings diluting the thematic focus; instead, the portfolio appears to strictly adhere to its mandate by excluding the financial sector entirely while capturing large-cap stability through familiar blue-chip names like Unilever and BP.
Sector coherence remains strong throughout the top ten positions, with weights distributed across healthcare, energy, consumer staples, materials, and industrials without significant deviation from a non-financial narrative. The concentration of 52.1% within the largest ten holdings indicates that while the fund relies heavily on mega-cap stocks for stability, this is consistent with an all-cap index approach rather than an attempt to obscure its strategy. This weighting suggests the fund tracks the broader market performance of UK companies outside finance, offering exposure similar to a broad-market benchmark minus one entire sector. The composition reflects genuine differentiation from a standard total market index only by virtue of the financial exclusion, yet it maintains sufficient breadth to avoid appearing as a concentrated thematic bet on specific niches or emerging trends.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-17 16:51:08.658852+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share EWU's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 48% of EWU's weight flows through these larger ETFs
27% of EWU's portfolio by weight is also held by DFAI, which commands 4× more assets under management. When DFAI receives inflows, it mechanically buys these shared stocks — dragging EWU's NAV along regardless of any thematic or sector catalyst. Combined, the top 2 overlapping ETFs control exposure to 48% ofEWU's weight.
Overlap computed from constituent-level holdings data across 2 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Replaces $249/yr MorningstarPeer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 52% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation. Data that Vanguard and BlackRock don't surface.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside EWU collectively pay out 57% of their Free Cash Flow to maintain the current yield. This is a sustainable payout level with moderate room for dividend growth. Based on 49% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryEWU is up 21.9% over the last 12 months. The underlying weighted earnings growth of its constituents is +37.1%. Despite earnings growth, valuations have contracted by 15.2% — the market is paying less per dollar of earnings than a year ago.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 52% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of EWU's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of EWU's analyzed weight, 100% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 0% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 21% of fund weight with available data. Not investment advice.
Concentration Risk Monitor
ELEVATEDEWU's top holding HSBA.L at 9.7% is above the 8% elevated-concentration threshold. The effective number of stocks is 30 vs. the actual count of 10.
Effective # of Stocks = 1 / HHI (Herfindahl-Hirschman Index). Variance share approximated as w² / Σw². Not investment advice.
Passive Crowding Score
LOWHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
EWU has a low Passive Crowding Score of 1/100. On average, 0.2% of the market capitalization of EWU's underlying holdings is structurally locked in passive ETF vehicles. This indicates relatively low passive crowding — the underlying stocks have ample active-market liquidity to absorb ETF-driven flows without significant price distortion.
Passive $ = Σ(ETF AUM × holding weight) across all 3 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 10 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | HSBA.L | HSBC Holdings PLC | 9.70% | 13.5x | 5/9 |
| 2 | AZN.L | AstraZeneca PLC | 9.06% | 28.4x | 7/9 |
| 3 | SHEL.L | Shell PLC | 7.94% | 15.5x | 5/9 |
| 4 | RR.L | Rolls-Royce Holdings PLC | 4.16% | 16.4x | — |
| 5 | BATS.L | British American Tobacco PLC | 3.94% | 12.6x | 7/9 |
| 6 | ULVR.L | Unilever PLC | 3.92% | 19.0x | — |
| 7 | BP.L | BP PLC | 3.85% | 38.6x | — |
| 8 | RIO.L | Rio Tinto PLC Ordinary Shares | 3.47% | 16.3x | — |
| 9 | GSK.L | GSK PLC | 3.29% | 14.6x | — |
| 10 | NG.L | National Grid PLC | 2.73% | 21.6x | — |
Historical Holdings Snapshots
Browse how EWU’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
10 holdings · 52.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | HSBA.L | 9.70% | — | — |
| 2 | AZN.L | 9.06% | — | — |
| 3 | SHEL.L | 7.94% | — | — |
| 4 | RR.L | 4.16% | — | — |
| 5 | BATS.L | 3.94% | — | — |
| 6 | ULVR.L | 3.92% | — | — |
| 7 | BP.L | 3.85% | — | — |
| 8 | RIO.L | 3.47% | — | — |
| 9 | GSK.L | 3.29% | — | — |
| 10 | NG.L | 2.73% | — | — |
2026-05-23
10 holdings · 52.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | HSBA.L | 9.70% | — | — |
| 2 | AZN.L | 9.06% | — | — |
| 3 | SHEL.L | 7.94% | — | — |
| 4 | RR.L | 4.16% | — | — |
| 5 | BATS.L | 3.94% | — | — |
| 6 | ULVR.L | 3.92% | — | — |
| 7 | BP.L | 3.85% | — | — |
| 8 | RIO.L | 3.47% | — | — |
| 9 | GSK.L | 3.29% | — | — |
| 10 | NG.L | 2.73% | — | — |
2026-05-22
10 holdings · 52.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | HSBA.L | 9.70% | — | — |
| 2 | AZN.L | 9.06% | — | — |
| 3 | SHEL.L | 7.94% | — | — |
| 4 | RR.L | 4.16% | — | — |
| 5 | BATS.L | 3.94% | — | — |
| 6 | ULVR.L | 3.92% | — | — |
| 7 | BP.L | 3.85% | — | — |
| 8 | RIO.L | 3.47% | — | — |
| 9 | GSK.L | 3.29% | — | — |
| 10 | NG.L | 2.73% | — | — |
2026-05-21
10 holdings · 52.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | HSBA.L | 9.70% | — | — |
| 2 | AZN.L | 9.06% | — | — |
| 3 | SHEL.L | 7.94% | — | — |
| 4 | RR.L | 4.16% | — | — |
| 5 | BATS.L | 3.94% | — | — |
| 6 | ULVR.L | 3.92% | — | — |
| 7 | BP.L | 3.85% | — | — |
| 8 | RIO.L | 3.47% | — | — |
| 9 | GSK.L | 3.29% | — | — |
| 10 | NG.L | 2.73% | — | — |
2026-05-20
10 holdings · 52.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | HSBA.L | 9.70% | — | — |
| 2 | AZN.L | 9.06% | — | — |
| 3 | SHEL.L | 7.94% | — | — |
| 4 | RR.L | 4.16% | — | — |
| 5 | BATS.L | 3.94% | — | — |
| 6 | ULVR.L | 3.92% | — | — |
| 7 | BP.L | 3.85% | — | — |
| 8 | RIO.L | 3.47% | — | — |
| 9 | GSK.L | 3.29% | — | — |
| 10 | NG.L | 2.73% | — | — |
2026-05-19
10 holdings · 52.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | HSBA.L | 9.70% | — | — |
| 2 | AZN.L | 9.06% | — | — |
| 3 | SHEL.L | 7.94% | — | — |
| 4 | RR.L | 4.16% | — | — |
| 5 | BATS.L | 3.94% | — | — |
| 6 | ULVR.L | 3.92% | — | — |
| 7 | BP.L | 3.85% | — | — |
| 8 | RIO.L | 3.47% | — | — |
| 9 | GSK.L | 3.29% | — | — |
| 10 | NG.L | 2.73% | — | — |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
Technical Setup
AI GeneratedThe current trading price of EWU at $46.29 establishes a specific point within its recent volatility range, though the absence of explicit Simple Moving Average envelope data prevents a precise calculation of mean-reversion distance or deviation from long-term trends. Without knowing whether this level represents an overbought condition near resistance or oversold territory approaching support relative to moving averages, any assessment of potential price normalization remains speculative based solely on the single data point provided. The position's relationship to dynamic average lines is unknown, leaving the probability of a snap-back toward statistical means indeterminate at this moment. In isolation, the $46.29 figure serves only as an anchor for further analysis once additional context regarding recent price action and moving average slopes becomes available. Technical frameworks typically rely on comparing current valuations against these dynamic benchmarks to gauge momentum exhaustion or accumulation zones; however, such a comparison cannot be factually constructed here without the necessary envelope parameters. Consequently, while the stock sits at this specific valuation, determining if it is statistically extended or fairly priced relative to its recent history requires supplementary data that has not been supplied in this instance. Ultimately, the technical picture remains incomplete regarding mean-reversion potential because the critical reference points defining normalcy are missing from the provided dataset. Market participants would need to integrate further metrics, such as standard deviation bands or specific moving average periods, to assess whether $46.29 represents a significant divergence warranting attention toward equilibrium levels or if it aligns comfortably
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How EWU’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.
SecuritiesDB is for informational purposes only. Not investment advice.