Overview

Dutch equity dominated by ASML — the world's only maker of EUV lithography machines used to manufacture chips at 7nm and below. ASML alone at 28% makes EWN effectively an ASML ETF with Shell and ING diversification.

Top Holdings

Fund Details

Investment Thesis

The Netherlands equity market is defined by ASML — holder of a complete monopoly on extreme ultraviolet lithography machines, the equipment that makes manufacturing chips at 7nm and below physically possible. No competitor can produce these machines, making ASML irreplaceable in the global semiconductor supply chain with extraordinary pricing power and sustainable competitive advantage. For investors who want ASML exposure in an ETF structure, EWN provides the most direct route. Shell's energy exposure and ING's banking presence provide sector diversification around the ASML core position.

Who It's For

Technology investors who want ASML exposure through an ETF structure, and those making a Dutch or Northern European equity allocation. EWN suits investors who understand their returns will be heavily driven by ASML's semiconductor equipment cycle given its 28% weight. The Shell energy exposure provides commodity diversification. Suitable as a concentrated technology infrastructure bet for investors who believe ASML's EUV monopoly will drive sustained earnings growth through the AI chip buildout.

10-Year History

Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.

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