iShares MSCI Germany Small-Cap ETF (EWGS)

The iShares MSCI Germany Small-Cap ETF gave investors exposure to smaller publicly traded companies in Germany. It tracked an MSCI index of German small caps, a segment that leans toward industrial, technology and real estate firms rather than the large exporters that dominate the main German market. The fund complemented the larger iShares MSCI Germany ETF (EWG), which holds the biggest German companies. Its shares were listed on Cboe BZX under the symbol EWGS.

BlackRock launched the fund in January 2012 as part of a set of single-country small-cap iShares funds. It never attracted much money compared with the flagship country ETFs. By 2023 its assets were only around $18 million, and it carried an expense ratio of 0.59%. Small single-country funds like this often struggle to cover their costs.

In August 2023 BlackRock announced that it would close EWGS along with four other U.S.-listed iShares ETFs. The fund stopped accepting creation and redemption orders and traded for the last time on October 30, 2023. Remaining shareholders received the fund's net asset value in cash, with the first liquidating distribution of about $52.37 per share paid on November 2, 2023. No replacement fund was created, though EWG continues to cover large German companies.