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ECH vs. EWY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ECH vs. EWY

Last updated Aug 2, 2026
Documentation

ECH (iShares MSCI Chile ETF) and EWY (iShares MSCI South Korea ETF) are both exchange-traded funds - ECH is a Latin America Equities fund tracking the MSCI Chile Investable Market Index, while EWY is a South Korea Equities fund tracking the MSCI Korea Index. Both are passively managed. Over the past 10 years, ECH returned 3.52%/yr vs 13.13%/yr for EWY. Their 0.52 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.59% expense ratio.

Performance

ECH vs. EWY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Chile ETF (ECH) and iShares MSCI South Korea ETF (EWY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ECH achieves a -1.11% return, which is significantly lower than EWY's 61.59% return. Over the past 10 years, ECH has underperformed EWY with an annualized return of 3.52%, while EWY has yielded a comparatively higher 13.13% annualized return.

ECH

1D
-1.23%
1M
0.51%
6M
-11.69%
YTD
-1.11%
1Y
33.73%
3Y*
11.11%
5Y*
12.16%
10Y*
3.52%
ALL TIME*
1.35%

EWY

1D
-2.55%
1M
-12.79%
6M
28.34%
YTD
61.59%
1Y
127.36%
3Y*
35.68%
5Y*
14.47%
10Y*
13.13%
ALL TIME*
9.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

ECH

iShares MSCI Chile ETF
$9.62M$13.53M$17.14M

EWY

iShares MSCI South Korea ETF
$4.45B$4.55B$4.16B

ECH vs. EWY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ECH
iShares MSCI Chile ETF		-1.11%65.41%-8.67%9.01%25.12%-19.80%-7.13%-17.79%-18.98%41.79%
EWY
iShares MSCI South Korea ETF		61.59%95.33%-20.48%19.05%-26.59%-7.58%39.43%7.97%-20.37%44.97%

Correlation

The correlation between ECH and EWY is 0.43, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.43

Correlation (3Y)
Balances recent behavior with more history.

0.44

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.46

Correlation (10Y)
Provides a long-term view across more market conditions.

0.49

Correlation (All Time)
Calculated using the full available price history since Nov 20, 2007

0.52

The correlation between ECH and EWY has been stable across timeframes, ranging from 0.43 to 0.52 - a consistent structural relationship.

ECH vs. EWY - Sectors Allocation Comparison

Sectors
ECH
EWY

Financial Services

22.9%
11.4%

Basic Materials

18.4%
2.2%

Industrials

16.6%
15.7%

Utilities

13.0%
0.4%

Consumer Cyclical

12.4%
5.9%

Real Estate

7.6%

-

Consumer Defensive

7.5%
2.2%

Communication Services

1.7%
2.9%

Energy

-

1.0%

Healthcare

-

3.6%

Technology

-

54.1%

Financial Services

ECH
22.9%
EWY
11.4%

Basic Materials

ECH
18.4%
EWY
2.2%

Industrials

ECH
16.6%
EWY
15.7%

Utilities

ECH
13.0%
EWY
0.4%

Consumer Cyclical

ECH
12.4%
EWY
5.9%

Real Estate

ECH
7.6%
EWY

-

Consumer Defensive

ECH
7.5%
EWY
2.2%

Communication Services

ECH
1.7%
EWY
2.9%

Energy

ECH

-

EWY
1.0%

Healthcare

ECH

-

EWY
3.6%

Technology

ECH

-

EWY
54.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Chile ETF

iShares MSCI South Korea ETF

Often compared with ECH:
ECH vs. EWZECH vs. EWWECH vs. EPUECH vs. EWZSECH vs. EPOLECH vs. SCHDECH vs. SMIN
Often compared with EWY:
EWY vs. FLKREWY vs. SPYEWY vs. EWJEWY vs. KORUEWY vs. EWTEWY vs. QQQEWY vs. EWH

Return for Risk

ECH vs. EWY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ECH
ECH Risk / Return Rank: 4949
Overall Rank
ECH Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
ECH Sortino Ratio Rank: 5454
Sortino Ratio Rank
ECH Omega Ratio Rank: 5252
Omega Ratio Rank
ECH Calmar Ratio Rank: 4949
Calmar Ratio Rank
ECH Martin Ratio Rank: 3535
Martin Ratio Rank
EWY
EWY Risk / Return Rank: 8686
Overall Rank
EWY Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
EWY Sortino Ratio Rank: 8080
Sortino Ratio Rank
EWY Omega Ratio Rank: 8484
Omega Ratio Rank
EWY Calmar Ratio Rank: 8888
Calmar Ratio Rank
EWY Martin Ratio Rank: 8787
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ECH vs. EWY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Chile ETF (ECH) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

ECHEWYDifference
Sharpe ratioReturn per unit of total volatility
1.35
2.24

-0.89

Sortino ratioReturn per unit of downside risk
1.88
2.59

-0.71

Omega ratioGain probability vs. loss probability

1.23

1.36

-0.13

Calmar ratioReturn relative to maximum drawdown

1.75

3.55

-1.79

Martin ratioReturn relative to average drawdown

3.55

12.67

-9.12

ECH vs. EWY - Sharpe Ratio Comparison

The current ECH Sharpe Ratio is 1.35, which is lower than the EWY Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of ECH and EWY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ECH vs. EWY - Drawdown Comparison

The maximum ECH drawdown since its inception was -74.08%, roughly equal to the maximum EWY drawdown of -74.14%. Use the drawdown chart below to compare losses from any high point for ECH and EWY.

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Drawdown Indicators

ECHEWYDifference

Max Drawdown

Largest peak-to-trough decline

-74.08%

-74.14%

+0.06%

Max Drawdown (1Y)

Largest decline over 1 year

-19.74%

-34.21%

+14.47%

Max Drawdown (3Y)

Largest decline over 3 years

-20.51%

-34.21%

+13.70%

Max Drawdown (5Y)

Largest decline over 5 years

-25.59%

-47.15%

+21.56%

Max Drawdown (10Y)

Largest decline over 10 years

-66.89%

-49.73%

-17.16%

Current Drawdown

Current decline from peak

-26.52%

-28.33%

+1.81%

Average Drawdown

Average peak-to-trough decline

-37.41%

-20.10%

-17.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.71%

9.56%

+0.15%

Volatility

ECH vs. EWY - Volatility Comparison

The current volatility for iShares MSCI Chile ETF (ECH) is 6.38%, while iShares MSCI South Korea ETF (EWY) has a volatility of 22.08%. This indicates that ECH 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.

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Volatility by Period

ECHEWYDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.38%

22.08%

-15.70%

Volatility (6M)

Calculated over the trailing 6-month period

21.15%

50.88%

-29.73%

Volatility (1Y)

Calculated over the trailing 1-year period

25.69%

54.29%

-28.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.49%

32.77%

-5.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.22%

29.38%

-2.16%

ECH vs. EWY - Expense Ratio Comparison

Both ECH and EWY have an expense ratio of 0.59%.

Dividends

ECH vs. EWY - Dividend Comparison

ECH's dividend yield for the trailing twelve months is around 2.00%, more than EWY's 1.30% yield.

PositionTTM20252024202320222021202020192018201720162015
ECH
iShares MSCI Chile ETF		2.00%2.01%3.12%4.77%6.73%5.49%2.16%2.47%2.37%1.42%1.85%2.13%
EWY
iShares MSCI South Korea ETF		1.30%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

ECH and EWY have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWY has higher volatility (22.08%) compared to ECH (6.38%). In terms of maximum drawdown, ECH dropped -74.08% vs EWY's -74.14%.

On 10-year performance, EWY leads with 13.13% vs 3.52% for ECH. Both ETFs have the same 0.59% expense ratio. On volatility, ECH has been the lower-risk option at 6.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWY has performed better with a 13.13% return vs 3.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ECH and EWY have the same expense ratio: 0.59% per year.

ECH has the higher dividend yield at 2.00%, compared with 1.30% for EWY.

ECH is categorized as Latin America Equities, while EWY is South Korea Equities. ECH tracks MSCI Chile Investable Market Index, while EWY tracks MSCI Korea Index.

EWY currently has the higher Sharpe Ratio (2.24 vs 1.35), 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.

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