EWY — iShares MSCI South Korea ETF

EWY Price Performance — Growth of $10,000

Value of a $10,000 investment in EWY over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

EWY Drawdown

The "underwater" chart: EWY's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares MSCI South Korea ETF (EWY) operates within the Single Country - Emerging category, where it is one of 22 funds tracked by ETFValuer. Issued by iShares, this fund manages $24.5 billion in assets and trades at a price of $162.96. It holds an overall rank of #60 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of B with a score of 74.0 out of 100. The fund charges an expense ratio of 0.59% and offers a dividend yield of 0.36%. The substantial asset under management figure suggests significant investor adoption relative to the category size, despite the relatively high cost structure compared to broader index funds. This combination of high AUM and a mid-tier rank indicates the fund remains a primary vehicle for exposure to South Korean equities within the emerging markets space.

Recent performance data reveals a volatile trajectory with a sharp divergence between short-term and long-term returns. The fund experienced a significant one-day decline of -6.27% and a one-month drop of -17.39%, contrasting with a modest one-week gain of +0.26%. Over longer horizons, the trend shows strong acceleration, with the three-month return rising to +8.21% and the six-month return surging to +40.49%. Year-to-date performance has been particularly robust at +59.42%, while the one-year return reached +125.62%. This momentum extended further into the three-year period, which recorded a cumulative return of +159.08%. The data illustrates a pattern where short-term corrections have been followed by sustained periods of rapid appreciation over the past year and beyond.

EWY carries a volatility label of Very High, supported by a beta of 2.40, indicating that the fund's price movements are significantly more sensitive to market fluctuations than the broader benchmark. This high sensitivity is reflected in a maximum drawdown of -27.36%, representing the largest peak-to-trough decline experienced by the fund. Despite the elevated volatility and deep drawdown, the fund has generated a Sharpe ratio of 2.30, suggesting that the returns achieved have been substantial relative to the risk taken. The combination of a very high beta and a strong Sharpe ratio implies that while the fund experiences extreme swings in both directions, the magnitude of the upside gains has historically outweighed the downside risks over the measured periods. Investors in this vehicle should anticipate significant price swings that are amplified compared to general market movements.

AI-generated summary based on the data on this page.

EWY Top Holdings

Holdings as of 2026-02-28 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 65.3% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how EWY's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With EWY

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with EWY's top 10 — FLKR overlaps most, holding 9 of the same companies as EWY's top 10 (63.1% of EWY's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

EWY Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.17% and average daily volume is 20.8M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $24.5B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: EWY is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

EWY Performance History

How EWY Compares to Other Single Country - Emerging ETFs