EWY vs SPY
Comparison between ISHARES MSCI SOUTH KOREA ETF (EWY, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceEWY has outperformed SPY, delivering a return of +18.3% compared to +13.2%
EWY vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
EWY
$24B
Winner
SPY
$784B
Expense Ratio
EWY
0.59%
Winner
SPY
0.09%
Max Drawdown
EWY
74.59%
Winner
SPY
56.47%
Sharpe Ratio
Winner
EWY
2.33
SPY
1.54
5Y Beta
EWY
1.30
Winner
SPY
1.00
P/E Ratio
EWY
N/A
SPY
27.62
Forward P/E
EWY
N/A
SPY
21.11
5Y Dividends CAGR
Winner
EWY
11.47%
SPY
6.00%
5Y EPS CAGR
EWY
N/A
SPY
25.30%
Debt to Equity
EWY
N/A
SPY
31.11%
P/S Ratio
EWY
N/A
SPY
3.49
P/B Ratio
EWY
N/A
SPY
5.30
EWY vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
EWY
+5.59%
SPY
-1.37%
3M
Winner
EWY
+43.64%
SPY
+12.22%
6M
Winner
EWY
+107.34%
SPY
+7.20%
1Y
Winner
EWY
+183.17%
SPY
+23.58%
5Y(CAGR)
Winner
EWY
+18.26%
SPY
+13.19%
10Y(CAGR)
Winner
EWY
+15.84%
SPY
+15.12%
Max(CAGR)
Winner
EWY
+10.51%
SPY
+8.44%
EWY vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | EWY | SPY |
|---|---|---|
| 2026 | +88.03% | +7.95% |
| 2025 | +94.51% | +18.00% |
| 2024 | -19.49% | +25.59% |
| 2023 | +21.31% | +26.72% |
| 2022 | -26.59% | -18.64% |
| 2021 | -9.94% | +30.52% |
| 2020 | +39.48% | +17.28% |
| 2019 | +9.42% | +31.09% |
| 2018 | -21.37% | -5.24% |
| 2017 | +42.82% | +20.78% |
| 2016 | +11.04% | +13.59% |
| 2015 | -7.06% | +1.31% |
| 2014 | -9.22% | +14.56% |
| 2013 | +0.96% | +29.00% |
| 2012 | +17.42% | +14.17% |
| 2011 | -14.35% | +0.85% |
| 2010 | +25.06% | +13.14% |
| 2009 | +65.55% | +22.67% |
| 2008 | -54.47% | -36.25% |
| 2007 | +33.51% | +5.32% |
| 2006 | +7.16% | +13.85% |
| 2005 | +56.02% | +5.32% |
| 2004 | +14.22% | +10.75% |
| 2003 | +34.61% | +24.18% |
| 2002 | -0.43% | -22.42% |
| 2001 | +43.43% | -10.13% |
| 2000 | -37.79% | -8.84% |
| 1999 | N/A | +8.61% |
EWY vs SPY Drawdown Comparison
The maximum drawdown for EWY was -74.15%, occurring on Nov 20, 2008. Recovery took 2400 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current EWY drawdown is -12.32%. The current SPY drawdown is -3.18%.
| Rank | EWY | SPY |
|---|---|---|
| #1 | -74.15% Oct 31, 2007 - May 15, 2017 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -50.79% Jun 9, 2000 - Mar 6, 2002 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -49.72% Jan 8, 2021 - Oct 20, 2025 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -48.95% Jan 26, 2018 - Nov 24, 2020 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -38.19% Apr 23, 2002 - Oct 13, 2003 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -27.95% Apr 12, 2004 - Jan 18, 2005 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -23.18% May 8, 2006 - Apr 3, 2007 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -23.08% Feb 27, 2026 - Apr 17, 2026 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -19.16% Jun 1, 2026 - Jun 18, 2026 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -18.90% Jul 23, 2007 - Oct 1, 2007 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -14.49% May 16, 2000 - Jun 2, 2000 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -12.32% Jun 18, 2026 - Jun 23, 2026 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -12.22% Mar 1, 2005 - Jul 19, 2005 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -12.16% Nov 3, 2025 - Dec 29, 2025 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -10.33% Apr 5, 2002 - Apr 17, 2002 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between EWY and SPY is 0.79 which considered as a strong positive correlation - the stocks tend to move together.
0.79
-101
Dividend Comparison (1999 - 2026)
EWY vs SPY dividend yield comparison.
| Year | EWY | SPY |
|---|---|---|
| 2026 | 0.00% | 0.50% |
| 2025 | 2.10% | 1.07% |
| 2024 | 2.55% | 1.21% |
| 2023 | 2.52% | 1.40% |
| 2022 | 1.23% | 1.65% |
| 2021 | 2.16% | 1.20% |
| 2020 | 0.73% | 1.52% |
| 2019 | 2.10% | 1.75% |
| 2018 | 1.34% | 2.04% |
| 2017 | 2.90% | 1.80% |
| 2016 | 1.21% | 2.03% |
| 2015 | 2.42% | 2.06% |
| 2014 | 1.20% | 1.87% |
| 2013 | 1.39% | 1.81% |
| 2012 | 0.58% | 2.18% |
| 2011 | 1.34% | 2.05% |
| 2010 | 0.72% | 1.80% |
| 2009 | 0.66% | 1.95% |
| 2008 | 2.86% | 3.02% |
| 2007 | 0.57% | 1.85% |
| 2006 | 0.68% | 1.73% |
| 2005 | 0.58% | 1.73% |
| 2004 | 0.34% | 1.82% |
| 2003 | 0.94% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.59% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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