EWO is the first Austria-focused ETF. This plain-vanilla fund offers pure exposure to the broad Austrian equity market. As such, EWO is highly concentrated, with majority of the fund's assets in its top-10 holdings. Since financial firms dominate the Austrian market, the same holds true for EWO's portfolio. In addition, the fund applies a 25/50 capping methodology on its market-cap-weighting, and comes with some tweaks designed to make it RIC compliant. Although Austria may not be the most popular European market for ETF investors, EWO does an adequate performance. The index is rebalanced quarterly.
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