EWY: iShares MSCI South Korea ETF returns, drawdowns and risk
Funds on emerging and Asian markets, as a block or country by country.
Data updated October 2026
EWY · US exchange · USDCategory: Emerging markets and Asia ETFsData from October 2006
From October 2006 to October 2026 EWY returned 7.8% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $44,927.
Its deepest fall was 74.1%, from October 2007 to November 2008, and it took about 114 months to get back to the previous high. Annual volatility was 32.6%; at the last close it was 29.7% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 240 months both have data, the correlation of monthly returns was 0.68: they moved together only in part. Beta was 1.34. In months when SPY rose, EWY moved 117% as much on average; in months when SPY fell, 127% as much.
Key figures
- Annual return (CAGR)
- +7.8%
- 1-year return
- +74.1%
- 5 years, a year
- +16.2%
- 10 years, a year
- +12.7%
- Annual volatility
- 32.6%
- Maximum drawdown
- −74.1%
- Sharpe ratio
- 0.34
- Worst year
- 2008: −56.0%
Trailing returns
| Period | EWY | SPY |
|---|---|---|
| 1 year | +74.1% | +16.6% |
| 3 years, a year | +42.7% | +23.1% |
| 5 years, a year | +16.2% | +12.7% |
| 10 years, a year | +12.7% | +15.4% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: EWY vs SPY
Month-end values from November 2006, the first month both funds have data.
EWY drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | EWY | SPY |
|---|---|---|
| 2026(partial) | +58.4% | +13.3% |
| 2025 | +95.3% | +17.7% |
| 2024 | −20.5% | +24.9% |
| 2023 | +19.1% | +26.2% |
| 2022 | −26.6% | −18.2% |
| 2021 | −7.5% | +28.7% |
| 2020 | +39.6% | +18.3% |
| 2019 | +8.0% | +31.2% |
| 2018 | −20.4% | −4.6% |
| 2017 | +45.0% | +21.7% |
| 2016 | +8.4% | +12.0% |
| 2015 | −8.0% | +1.2% |
| 2014 | −13.5% | +13.5% |
| 2013 | +3.6% | +32.3% |
| 2012 | +21.9% | +16.0% |
| 2011 | −13.5% | +1.9% |
| 2010 | +29.5% | +15.1% |
| 2009 | +71.8% | +26.4% |
| 2008 | −56.0% | −36.8% |
| 2007 | +31.7% | +5.1% |
| 2006(partial) | +6.8% | — |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of EWY?
From October 2006 to October 2026 EWY returned 7.8% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: +16.2% a year. Over the last 12 months: +74.1%.
What was the worst drawdown of EWY?
74.1%, from October 2007 to November 2008; it took about 114 months from the previous high to get back to it.
How volatile is EWY?
Annual volatility was 32.6% over the period. Its worst month was −28.5% and 57% of months were positive. Worst calendar year: 2008 (−56.0%).
How closely does EWY follow SPY?
Over 240 months the correlation of monthly returns was 0.68, so they moved together only in part, with a beta of 1.34.
Use EWY in a free tool
Other Emerging markets and Asia ETFs
- All Emerging markets and Asia ETFsReturns and risk side by side
- VWO — Vanguard FTSE Emerging Markets ETFCAGR +9.6%
- IEMG — iShares Core MSCI Emerging Markets ETFCAGR +6.0%
- EIMI — iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)CAGR +7.3%
- EEM — iShares MSCI Emerging Markets ETFCAGR +5.2%
- VFEM — Vanguard FTSE Emerging Markets UCITS ETF (Dist)CAGR +5.1%
- XMME — Xtrackers MSCI Emerging Markets UCITS ETF 1CCAGR +6.2%
- INDA — iShares MSCI India ETFCAGR +5.0%
- MCHI — iShares MSCI China ETFCAGR +2.6%
- FXI — iShares China Large-Cap ETFCAGR +3.0%
- KWEB — KraneShares CSI China Internet ETFCAGR +1.3%
- EWT — iShares MSCI Taiwan ETFCAGR +13.4%
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.