EIDO vs. EWY

Last updated Jun 3, 2026

EIDO (iShares MSCI Indonesia ETF) and EWY (iShares MSCI South Korea ETF) are both Asia Pacific Equities funds from iShares - EIDO tracks the MSCI Indonesia Investable Market Index while EWY tracks the MSCI Korea Index. Both are passively managed. Over the past 10 years, EIDO returned -3.47%/yr vs 17.54%/yr for EWY. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 0.59% expense ratio.

Performance

EIDO vs. EWY - Performance Comparison

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

Returns By Period

In the year-to-date period, EIDO achieves a -31.44% return, which is significantly lower than EWY's 120.66% return. Over the past 10 years, EIDO has underperformed EWY with an annualized return of -3.47%, while EWY has yielded a comparatively higher 17.54% annualized return.

EIDO

• 1D: -0.23%
• 1M: -14.30%
• YTD: -31.44%
• 6M: -31.58%
• 1Y: -28.39%
• 3Y*: -15.47%
• 5Y*: -7.95%
• 10Y*: -3.47%

EWY

• 1D: -1.00%
• 1M: 32.43%
• YTD: 120.66%
• 6M: 138.24%
• 1Y: 255.28%
• 3Y*: 52.36%
• 5Y*: 20.77%
• 10Y*: 17.54%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EIDO vs. EWY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EIDO iShares MSCI Indonesia ETF	-31.44%	4.90%	-13.02%	2.56%	-0.16%	-0.60%	-7.13%	5.30%	-10.88%	19.40%
EWY iShares MSCI South Korea ETF	120.66%	95.33%	-20.48%	19.05%	-26.59%	-7.58%	39.43%	7.97%	-20.37%	44.97%

Correlation

The correlation between EIDO and EWY is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since May 10, 2010	0.55

Over the past year, the correlation between EIDO and EWY has dropped to 0.27 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

EIDO vs. EWY - Sectors Allocation Comparison

Sectors	EIDO	EWY
Financial Services	37.8%	9.6%
Basic Materials	18.5%	2.0%
Energy	10.6%	1.4%
Communication Services	8.7%	2.9%
Consumer Defensive	7.5%	1.7%
Industrials	6.1%	20.4%
Technology	2.7%	52.4%
Utilities	2.4%	0.4%
Healthcare	2.4%	3.5%
Real Estate	1.8%	-
Consumer Cyclical	1.6%	5.7%

Return for Risk

EIDO vs. EWY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EIDO

EIDO Risk / Return Rank: 1
EIDO Sharpe Ratio Rank: 0
EIDO Sortino Ratio Rank: 1
EIDO Omega Ratio Rank: 1
EIDO Calmar Ratio Rank: 1
EIDO Martin Ratio Rank: 0

EWY

EWY Risk / Return Rank: 97
EWY Sharpe Ratio Rank: 98
EWY Sortino Ratio Rank: 95
EWY Omega Ratio Rank: 95
EWY Calmar Ratio Rank: 97
EWY Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EIDO vs. EWY - Risk-Adjusted Trends Comparison

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

	EIDO	EWY	Difference
Sharpe ratio Return per unit of total volatility	-1.31	6.11	-7.41
Sortino ratio Return per unit of downside risk	-1.79	5.35	-7.14
Omega ratio Gain probability vs. loss probability	0.77	1.75	-0.98
Calmar ratio Return relative to maximum drawdown	-0.88	11.34	-12.22
Martin ratio Return relative to average drawdown	-2.52	42.32	-44.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EIDO vs. EWY - Sharpe Ratio Comparison

The current EIDO Sharpe Ratio is -1.31, which is lower than the EWY Sharpe Ratio of 6.11. The chart below compares the historical Sharpe Ratios of EIDO 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.

Sharpe Ratios by Period

	EIDO	EWY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.31	6.11	-7.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.41	0.72	-1.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.14	0.64	-0.78
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.34	-0.39

Drawdowns

EIDO vs. EWY - Drawdown Comparison

The maximum EIDO drawdown since its inception was -63.21%, smaller than the maximum EWY drawdown of -74.14%. Use the drawdown chart below to compare losses from any high point for EIDO and EWY.

Drawdown Indicators

	EIDO	EWY	Difference
Max Drawdown Largest peak-to-trough decline	-63.21%	-74.14%	+10.93%
Max Drawdown (1Y) Largest decline over 1 year	-33.82%	-23.08%	-10.74%
Max Drawdown (3Y) Largest decline over 3 years	-43.19%	-27.36%	-15.83%
Max Drawdown (5Y) Largest decline over 5 years	-43.19%	-48.55%	+5.36%
Max Drawdown (10Y) Largest decline over 10 years	-59.41%	-49.73%	-9.68%
Current Drawdown Current decline from peak	-53.21%	-1.00%	-52.21%
Average Drawdown Average peak-to-trough decline	-24.62%	-20.13%	-4.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.76%	6.19%	+5.57%

Volatility

EIDO vs. EWY - Volatility Comparison

The current volatility for iShares MSCI Indonesia ETF (EIDO) is 6.09%, while iShares MSCI South Korea ETF (EWY) has a volatility of 20.22%. This indicates that EIDO 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.

Volatility by Period

	EIDO	EWY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.09%	20.22%	-14.13%
Volatility (6M) Calculated over the trailing 6-month period	17.59%	37.40%	-19.81%
Volatility (1Y) Calculated over the trailing 1-year period	21.87%	42.10%	-20.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.65%	28.83%	-9.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.72%	27.37%	-2.65%

EIDO vs. EWY - Expense Ratio Comparison

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

Dividends

EIDO vs. EWY - Dividend Comparison

EIDO's dividend yield for the trailing twelve months is around 5.19%, more than EWY's 0.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIDO iShares MSCI Indonesia ETF	5.19%	3.56%	5.20%	2.94%	2.53%	1.33%	1.51%	1.78%	1.99%	1.26%	1.16%	1.67%
EWY iShares MSCI South Korea ETF	0.95%	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

Can I hold both EIDO and EWY in my portfolio?

EIDO and EWY have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIDO or EWY?

EWY has higher volatility (20.22%) compared to EIDO (6.09%). In terms of maximum drawdown, EIDO dropped -63.21% vs EWY's -74.14%.

Which ETF is better, EIDO or EWY?

On 10-year performance, EWY leads with 17.54% vs -3.47% for EIDO. Both ETFs have the same 0.59% expense ratio. On volatility, EIDO has been the lower-risk option at 6.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EIDO or EWY?

Over the 10-year period, EWY has performed better with a 17.54% return vs -3.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EIDO or EWY?

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

Which ETF pays a higher dividend yield, EIDO or EWY?

EIDO has the higher dividend yield at 5.19%, compared with 0.95% for EWY.

What is the main difference between EIDO and EWY?

EIDO tracks MSCI Indonesia Investable Market Index, while EWY tracks MSCI Korea Index.

Which has better risk-adjusted returns?

EWY currently has the higher Sharpe Ratio (6.11 vs -1.31), 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.