ASX vs. EWY
ASX (ASE Technology Holding Co., Ltd.) is a stock, while EWY (iShares MSCI South Korea ETF) is Asia Pacific Equities fund tracking the MSCI Korea Index. Over the past 10 years, ASX returned 27.14%/yr vs 17.46%/yr for EWY. At a 0.50 correlation, their price movements are largely independent.
Performance
ASX vs. EWY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ASX achieves a 147.89% return, which is significantly higher than EWY's 119.05% return. Over the past 10 years, ASX has outperformed EWY with an annualized return of 27.14%, while EWY has yielded a comparatively lower 17.46% annualized return.
ASX
- 1D
- 1.66%
- 1M
- 23.64%
- YTD
- 147.89%
- 6M
- 159.16%
- 1Y
- 336.26%
- 3Y*
- 78.22%
- 5Y*
- 44.06%
- 10Y*
- 27.14%
EWY
- 1D
- -0.73%
- 1M
- 30.18%
- YTD
- 119.05%
- 6M
- 134.13%
- 1Y
- 251.82%
- 3Y*
- 51.99%
- 5Y*
- 20.31%
- 10Y*
- 17.46%
ASX vs. EWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ASX ASE Technology Holding Co., Ltd. | 147.89% | 65.68% | 10.14% | 60.87% | -12.75% | 38.25% | 8.13% | 53.97% | -37.08% | 31.93% |
EWY iShares MSCI South Korea ETF | 119.05% | 95.33% | -20.48% | 19.05% | -26.59% | -7.58% | 39.43% | 7.97% | -20.37% | 44.97% |
Correlation
The correlation between ASX and EWY is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2000 | 0.50 |
The correlation between ASX and EWY has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ASX vs. EWY — Risk / Return Rank
ASX
EWY
ASX vs. EWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ASE Technology Holding Co., Ltd. (ASX) and iShares MSCI South Korea ETF (EWY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ASX | EWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.87 | 1.74 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 20.16 | 10.99 | +9.17 |
| Martin ratioReturn relative to average drawdown | 55.80 | 40.91 | +14.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ASX | EWY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.76 | 6.02 | +1.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.12 | 0.71 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.64 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.33 | +0.06 |
Drawdowns
ASX vs. EWY - Drawdown Comparison
The maximum ASX drawdown since its inception was -78.05%, which is greater than EWY's maximum drawdown of -74.14%. Use the drawdown chart below to compare losses from any high point for ASX and EWY.
Loading charts...
Drawdown Indicators
| ASX | EWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.05% | -74.14% | -3.91% |
Max Drawdown (1Y)Largest decline over 1 year | -16.81% | -23.08% | +6.27% |
Max Drawdown (3Y)Largest decline over 3 years | -40.64% | -27.36% | -13.28% |
Max Drawdown (5Y)Largest decline over 5 years | -45.99% | -48.55% | +2.56% |
Max Drawdown (10Y)Largest decline over 10 years | -54.17% | -49.73% | -4.44% |
Current DrawdownCurrent decline from peak | -1.70% | -1.73% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -22.58% | -20.13% | -2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.06% | 6.19% | -0.13% |
Volatility
ASX vs. EWY - Volatility Comparison
The current volatility for ASE Technology Holding Co., Ltd. (ASX) is 19.08%, while iShares MSCI South Korea ETF (EWY) has a volatility of 20.32%. This indicates that ASX experiences smaller price fluctuations and is considered to be less risky than EWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ASX | EWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.08% | 20.32% | -1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 33.26% | 37.41% | -4.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.68% | 42.10% | +1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.70% | 28.83% | +10.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.30% | 27.37% | +10.93% |
Dividends
ASX vs. EWY - Dividend Comparison
ASX's dividend yield for the trailing twelve months is around 0.90%, less than EWY's 0.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASX ASE Technology Holding Co., Ltd. | 0.90% | 2.23% | 3.19% | 6.07% | 7.64% | 3.86% | 2.34% | 2.88% | 14.19% | 2.51% | 3.63% | 4.00% |
EWY iShares MSCI South Korea ETF | 0.96% | 2.10% | 2.55% | 2.52% | 1.23% | 2.16% | 0.73% | 2.10% | 1.34% | 2.90% | 1.21% | 2.42% |
Frequently Asked Questions
ASX and EWY have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWY has higher volatility (20.32%) compared to ASX (19.08%). In terms of maximum drawdown, ASX dropped -78.05% vs EWY's -74.14%.
ASX currently has the higher Sharpe Ratio (7.76 vs 6.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for ASX and EWY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer