Data Source: from January 2001 to December 2022 (~22 years)
Consolidated Returns as of 31 December 2022
Category: Stocks
ETF: iShares MSCI South Korea ETF (EWY)

In the last 20 Years, the iShares MSCI South Korea ETF (EWY) ETF obtained a 7.12% compound annual return, with a 26.51% standard deviation.

In 2022, the ETF granted a 0.90% dividend yield. If you are interested in getting periodic income, please refer to the iShares MSCI South Korea ETF (EWY) ETF: Dividend Yield page.

The ETF is related to the following investment themes:

  • Asset Class: Equity
  • Size: Large Cap
  • Style: Value
  • Region: Developed Asia Pacific
  • Country: South Korea

Historical Returns as of Dec 31, 2022

Historical returns and Metrics of iShares MSCI South Korea ETF (EWY) ETF.

Returns and metrics are calculated based on monthly returns, assuming:
  • No fees or capital gain taxes
  • the reinvestment of dividends
ISHARES MSCI SOUTH KOREA ETF (EWY) ETF
Portfolio Metrics
Data Source: 1 January 2001 - 31 December 2022 (~22 years)
Swipe left to see all data
Metrics as of Dec 31, 2022
1M 3M 6M 1Y 3Y 5Y 10Y 20Y MAX
(~22Y)
Portfolio
Return (%)
-5.84 20.68 -1.78 -26.60 -1.83 -4.05 0.52 7.12 8.46
US Inflation (%) -0.31 0.00 0.16 6.45 4.92 3.78 2.60 2.51 2.46
Infl. Adjusted
Return (%)
-5.55 20.69 -1.94 -31.05 -6.43 -7.55 -2.03 4.50 5.86
Returns / Inflation rates over 1 year are annualized.
RISK INDICATORS
Standard Deviation (%) 32.23 27.33 24.94 21.26 26.51 28.16
Sharpe Ratio -0.87 -0.09 -0.21 0.00 0.23 0.16
Sortino Ratio -1.29 -0.12 -0.29 0.00 0.32 0.23
MAXIMUM DRAWDOWN
Drawdown Depth (%) -39.18 -48.08 -48.08 -48.08 -70.13 -70.13
Start (yyyy mm) 2022 01 2021 07 2021 07 2021 07 2007 11 2007 11
Bottom (yyyy mm) 2022 09 2022 09 2022 09 2022 09 2009 02 2009 02
Start to Bottom (# months) 9 15 15 15 16 16
Start to Recovery (# months) in progress
> 12
> 18
> 18
> 18
115
115
ROLLING PERIOD RETURNS - Annualized
Best Return (%) 110.75 46.82 33.75 18.93 11.73
Worst Return (%) -63.31 -21.47 -5.52 -0.61 6.28
% Positive Periods 65% 76% 85% 99% 100%
MONTHS
Positive 0 2 3 5 19 31 68 139 153
Negative 1 1 3 7 17 29 52 101 111
% Positive 0% 67% 50% 42% 53% 52% 57% 58% 58%
WITHDRAWAL RATES (WR)
Safe WR (%) 36.34 17.34 9.90 12.34 14.36
Perpetual WR (%) 0.00 0.00 0.00 4.31 5.54
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the ETF
  • Standard Deviation: it's a measure of the dispersion of returns around the mean
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the ETF. It's calculated by dividing the excess return of the ETF over the risk-free rate by the ETF standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the ETF. It's a modification of the Sharpe Ratio (same formula but the denominator is the ETF downside standard deviation).
  • Maximum Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.
  • Rolling Returns: returns over a time frame (best, worst, % of positive returns).
  • Pos./Neg. Months: number of months with positive/negative return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the original portfolio balance that can be withdrawn at the end of each year with inflation adjustment, without the portfolio running out of money (dollar amount withdrawal).
  • Perpetual Withdrawal Rate (PWR): it's the percentage of portfolio balance that can be withdrawn at the end of each year, while retaining the inflation adjusted portfolio balance (percentage withdrawal).

Correlations as of Dec 31, 2022

Monthly correlations of iShares MSCI South Korea ETF (EWY) ETF vs the main Asset Classes, over different timeframes.

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1.

If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.

Asset correlations are calculated based on monthly returns.

Columns are sortable (click on table header to sort).

ISHARES MSCI SOUTH KOREA ETF (EWY) ETF
Monthly correlations as of 31 December 2022
Swipe left to see all data
Correlation vs EWY
 
Asset Class 1 Year 5 Years 10 Years Since
Jan 2001
US Total Stock Market
VTI
0.84
0.76
0.68
0.74
US Large Cap
SPY
0.84
0.75
0.68
0.73
US Small Cap
IJR
0.83
0.79
0.64
0.71
US REITs
VNQ
0.80
0.64
0.51
0.55
US Technology
QQQ
0.75
0.67
0.63
0.67
Preferred Stocks
PFF
0.69
0.63
0.54
0.46
EAFE Stocks
EFA
0.94
0.88
0.80
0.79
World All Countries
VT
0.92
0.84
0.79
0.80
Emerging Markets
EEM
0.82
0.87
0.86
0.88
Europe
VGK
0.93
0.86
0.78
0.76
Pacific
VPL
0.95
0.91
0.83
0.76
Latin America
FLLA
0.52
0.62
0.60
0.70
US Total Bond Market
BND
0.77
0.43
0.38
0.11
Long Term Treasuries
TLT
0.62
0.04
0.05
-0.15
US Cash
BIL
0.16
-0.18
-0.13
-0.02
TIPS
TIP
0.82
0.52
0.46
0.22
Invest. Grade Bonds
LQD
0.81
0.59
0.55
0.29
High Yield Bonds
HYG
0.81
0.73
0.67
0.64
International Bonds
BNDX
0.75
0.40
0.34
0.17
Emerg. Market Bonds
EMB
0.85
0.70
0.66
0.57
Gold
GLD
0.49
0.27
0.24
0.19
Commodities
DBC
0.44
0.55
0.46
0.41

Capital Growth as of Dec 31, 2022

Capital growth, returns, stats are calculated assuming a reinvestment of dividends.

If you are interested in getting periodic income, please refer to the iShares MSCI South Korea ETF (EWY) ETF: Dividend Yield page.

An investment of 1000$, since January 2003, now would be worth 3958.49$, with a total return of 295.85% (7.12% annualized).

The Inflation Adjusted Capital now would be 2412.73$, with a net total return of 141.27% (4.50% annualized).
An investment of 1000$, since January 2001, now would be worth 5974.05$, with a total return of 497.41% (8.46% annualized).

The Inflation Adjusted Capital now would be 3502.34$, with a net total return of 250.23% (5.86% annualized).

Drawdowns

Worst drawdowns since January 2003.

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Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-70.13% Nov 2007 Feb 2009 16 May 2017 99 115
-48.08% Jul 2021 Sep 2022 15 in progress 3 18
-37.90% Feb 2018 Mar 2020 26 Nov 2020 8 34
-21.78% Apr 2004 Jul 2004 4 Nov 2004 4 8
-18.15% Jan 2003 Mar 2003 3 May 2003 2 5
-10.17% Mar 2005 Apr 2005 2 Jul 2005 3 5
-9.03% May 2006 Jun 2006 2 Dec 2006 6 8
-8.72% Sep 2003 Sep 2003 1 Oct 2003 1 2
-5.58% Oct 2005 Oct 2005 1 Nov 2005 1 2
-4.23% Jan 2007 Jan 2007 1 Mar 2007 2 3
-3.73% Feb 2006 Feb 2006 1 Apr 2006 2 3
-2.83% Aug 2007 Aug 2007 1 Sep 2007 1 2
-2.47% Aug 2005 Aug 2005 1 Sep 2005 1 2
-2.15% Nov 2003 Nov 2003 1 Dec 2003 1 2
-1.76% Aug 2017 Aug 2017 1 Oct 2017 2 3
-0.15% Feb 2021 Feb 2021 1 Mar 2021 1 2

Worst drawdowns since January 2001.

Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-70.13% Nov 2007 Feb 2009 16 May 2017 99 115
-48.08% Jul 2021 Sep 2022 15 in progress 3 18
-37.90% Feb 2018 Mar 2020 26 Nov 2020 8 34
-34.78% Jun 2002 Mar 2003 10 Aug 2003 5 15
-26.54% Feb 2001 Sep 2001 8 Nov 2001 2 10
-21.78% Apr 2004 Jul 2004 4 Nov 2004 4 8
-10.17% Mar 2005 Apr 2005 2 Jul 2005 3 5
-9.03% May 2006 Jun 2006 2 Dec 2006 6 8
-8.72% Sep 2003 Sep 2003 1 Oct 2003 1 2
-5.58% Oct 2005 Oct 2005 1 Nov 2005 1 2
-4.23% Jan 2007 Jan 2007 1 Mar 2007 2 3
-3.73% Feb 2006 Feb 2006 1 Apr 2006 2 3
-2.83% Aug 2007 Aug 2007 1 Sep 2007 1 2
-2.47% Aug 2005 Aug 2005 1 Sep 2005 1 2
-2.15% Nov 2003 Nov 2003 1 Dec 2003 1 2
-1.79% Apr 2002 Apr 2002 1 May 2002 1 2
-1.76% Aug 2017 Aug 2017 1 Oct 2017 2 3
-0.15% Feb 2021 Feb 2021 1 Mar 2021 1 2

Rolling Returns ( more details)

iShares MSCI South Korea ETF (EWY) ETF: annualized rolling and average returns

Swipe left to see all data
Rolling
Period
Return (*) Negative
Periods
Average (%) Best (%) Worst (%)
1 Year
13.05 110.75
Mar 2009 - Feb 2010
-63.31
Dec 2007 - Nov 2008
35.18%
2 Years
10.33 64.59
Mar 2009 - Feb 2011
-32.49
Mar 2007 - Feb 2009
31.12%
3 Years
9.41 46.82
Apr 2003 - Mar 2006
-21.47
Mar 2006 - Feb 2009
24.02%
5 Years
8.46 33.75
Oct 2001 - Sep 2006
-5.52
Oct 2017 - Sep 2022
15.12%
7 Years
7.14 27.54
Jan 2001 - Dec 2007
-2.39
Nov 2007 - Oct 2014
2.76%
10 Years
7.11 18.93
Apr 2001 - Mar 2011
-0.61
Oct 2012 - Sep 2022
0.69%
15 Years
6.97 12.74
Oct 2001 - Sep 2016
-1.01
Nov 2007 - Oct 2022
2.35%
20 Years
8.93 11.73
Apr 2001 - Mar 2021
6.28
Jul 2002 - Jun 2022
0.00%
(*) Annualized rolling and average returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the iShares MSCI South Korea ETF (EWY) ETF: Rolling Returns page.

Seasonality

iShares MSCI South Korea ETF (EWY) ETF: in which months is it better to invest?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.

For further information about the seasonality, check the Asset Class Seasonality page.
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.48
60%
-3.07
20%
-2.57
40%
1.12
80%
-1.34
60%
-0.99
60%
-0.67
40%
-1.16
40%
-2.88
60%
-0.56
40%
6.69
60%
3.95
60%
 Capital Growth on monthly avg returns
100
100.48
97.40
94.90
95.96
94.67
93.73
93.11
92.03
89.38
88.88
94.83
98.57
Best 10.0
2019
0.0
2022
4.7
2018
10.0
2020
3.8
2020
7.7
2019
5.5
2020
4.7
2020
5.8
2019
9.4
2022
17.8
2020
13.5
2020
Worst -7.3
2020
-7.9
2018
-14.6
2020
-6.4
2022
-9.6
2019
-14.5
2022
-7.5
2019
-4.4
2022
-18.2
2022
-14.6
2018
-4.7
2021
-5.8
2022
Monthly Seasonality over the period Jan 2018 - Dec 2022
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
-0.67
50%
-0.78
50%
0.43
60%
1.17
70%
-0.59
50%
-1.19
60%
0.58
60%
-0.99
50%
-0.98
70%
1.30
50%
2.61
50%
1.91
60%
 Capital Growth on monthly avg returns
100
99.33
98.55
98.98
100.14
99.54
98.35
98.93
97.95
96.99
98.25
100.81
102.73
Best 10.0
2019
3.6
2013
13.4
2016
10.0
2020
9.0
2017
7.7
2019
6.9
2016
4.7
2020
7.5
2013
11.5
2015
17.8
2020
13.5
2020
Worst -8.7
2014
-7.9
2018
-14.6
2020
-6.4
2022
-9.6
2019
-14.5
2022
-7.5
2019
-6.5
2015
-18.2
2022
-14.6
2018
-4.7
2021
-5.8
2022
Monthly Seasonality over the period Jan 2013 - Dec 2022
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.11
55%
-0.59
55%
1.66
59%
3.53
68%
-0.64
50%
-1.09
45%
1.86
64%
-0.86
50%
-1.12
64%
1.77
59%
3.12
59%
3.36
68%
 Capital Growth on monthly avg returns
100
101.11
100.52
102.18
105.79
105.11
103.96
105.90
104.98
103.81
105.65
108.95
112.61
Best 23.3
2001
10.9
2002
30.6
2009
20.2
2009
9.5
2007
8.1
2003
19.7
2009
10.0
2004
13.9
2009
19.0
2011
26.8
2001
17.7
2008
Worst -12.4
2008
-17.8
2009
-14.6
2020
-8.3
2004
-15.1
2010
-14.5
2022
-9.4
2004
-13.7
2011
-18.2
2022
-28.5
2008
-15.7
2008
-13.4
2002
Monthly Seasonality over the period Jan 2001 - Dec 2022

Monthly/Yearly Returns

iShares MSCI South Korea ETF (EWY) ETF data source starts from January 2001: let's focus on monthly and yearly returns.

We are providing two different views:
  • Histogram: it shows the distribution of the returns recorded so far
  • Plain Table: it shows the detailed monthly and yearly returns
MONTHLY RETURNS HISTOGRAM
Jan 2001 - Dec 2022
153 Positive Months (58%) - 111 Negative Months (42%)
MONTHLY RETURNS TABLE
Jan 2001 - Dec 2022
(Scroll down to see all data)
Swipe left to see all data
Yearly Return(%)
Monthly Return(%)
Year Total Infl.Adj Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2022
-26.60 -31.05 -7.0 0.0 -1.6 -6.4 2.1 -14.5 4.1 -4.4 -18.2 9.4 17.2 -5.8
2021
-7.56 -13.64 2.4 -0.1 2.0 1.0 1.6 1.2 -4.8 -2.3 -7.0 -1.5 -4.7 5.0
2020
+39.44 +37.56 -7.3 -4.7 -14.6 10.0 3.8 6.7 5.5 4.7 3.6 -0.7 17.8 13.5
2019
+7.95 +5.54 10.0 -2.7 -3.2 0.9 -9.6 7.7 -7.5 -3.9 5.8 4.6 -0.8 8.7
2018
-20.38 -21.88 4.4 -7.9 4.7 0.2 -4.6 -6.1 -0.7 0.1 1.4 -14.6 4.0 -1.6
2017
+45.00 +42.00 8.8 1.2 5.7 0.4 9.0 0.1 2.8 -1.8 0.9 8.3 0.5 2.7
2016
+8.44 +6.24 -3.9 -2.4 13.4 -1.1 -4.8 4.6 6.9 1.2 3.2 -4.8 -3.8 1.1
2015
-8.03 -8.70 0.7 1.8 1.1 6.9 -5.5 -4.7 -7.1 -6.5 2.0 11.5 -2.9 -3.7
2014
-13.48 -14.13 -8.7 3.5 0.7 1.7 3.3 0.6 1.7 0.5 -8.9 -3.1 -3.0 -1.6
2013
+3.54 +2.01 -6.0 3.6 -3.7 -1.7 -1.3 -7.7 4.9 2.5 7.5 3.9 1.8 0.9
2012
+21.93 +19.84 9.8 4.4 -0.6 -0.5 -11.2 4.2 1.4 1.3 5.0 -2.6 3.6 6.8
2011
-13.53 -16.01 0.3 -5.4 10.8 7.2 -4.3 -1.0 1.0 -13.7 -17.9 19.0 1.2 -6.1
2010
+29.55 +27.64 -4.6 0.3 9.7 3.7 -15.1 2.2 9.7 -2.6 11.9 1.7 -0.8 13.7
2009
+71.76 +67.21 -5.1 -17.8 30.6 20.2 5.5 -3.1 19.7 -0.1 13.9 -9.5 3.5 7.6
2008
-55.97 -56.01 -12.4 0.5 -2.0 7.8 -1.2 -13.1 -2.1 -13.4 -8.2 -28.5 -15.7 17.7
2007
+31.70 +26.54 -4.2 3.6 3.2 4.9 9.5 3.8 9.4 -2.8 6.2 9.8 -11.3 -1.9
2006
+11.13 +8.38 7.7 -3.7 0.5 6.3 -8.7 -0.4 0.1 1.6 0.9 2.1 4.8 0.5
2005
+53.89 +48.80 5.9 10.8 -7.3 -3.0 4.2 -0.5 12.5 -2.5 12.4 -5.6 9.5 10.4
2004
+17.23 +13.53 6.2 3.9 2.1 -8.3 -3.9 -2.1 -9.4 10.0 3.1 2.2 10.6 3.9
2003
+37.77 +35.22 -3.9 -3.6 -11.6 15.0 7.1 8.1 8.6 7.8 -8.7 13.3 -2.1 6.8
2002
+3.61 +1.21 8.4 10.9 7.8 -1.8 2.2 -5.0 -7.5 3.9 -16.8 7.6 12.5 -13.4
2001
+45.65 +43.43 23.3 -8.8 -11.1 14.5 7.6 -5.2 -8.3 1.5 -16.6 16.4 26.8 8.9
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