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The iShares MSCI Australia ETF offers exposure to the Australian equities market across 73 holdings, concentrated in the financials and basic materials sectors. EWA offers exposure to Australian large- and mid-caps, with a tilt toward financials and materials, resulting in a more comfortable P/E than that of the S&P 500. US equities have outperformed the rest of the world for a long time now. EWA offers investors exposure to Australian equities, providing diversification away from US-centric risks and trade policy uncertainties. Australia's second-quarter inflation drops to lowest since March 2021, supporting case for rate cut Inflation continued to ease in the second quarter, raising bets that the Australian central bank will deliver a rate cut next month.