EWM vs. KORU

Last updated Aug 4, 2026

EWM (iShares MSCI Malaysia ETF) and KORU (Direxion Daily MSCI South Korea Bull 3X Shares) are both exchange-traded funds - EWM is a Asia Pacific Equities fund tracking the MSCI Malaysia Index, while KORU is a South Korea Equities fund tracking the MSCI Korea 25/50 Index. Both are passively managed. Over the past 10 years, EWM returned 2.51%/yr vs 2.54%/yr for KORU. Their 0.54 correlation means they have sometimes moved together and sometimes differently. EWM charges 0.49%/yr vs 1.32%/yr for KORU.

Performance

EWM vs. KORU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Malaysia ETF (EWM) and Direxion Daily MSCI South Korea Bull 3X Shares (KORU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EWM achieves a 4.87% return, which is significantly lower than KORU's 74.82% return. Both investments have delivered pretty close results over the past 10 years, with EWM having a 2.51% annualized return and KORU not far ahead at 2.54%.

EWM

• 1D: 0.11%
• 1M: 4.23%
• 6M: -2.14%
• YTD: 4.87%
• 1Y: 21.56%
• 3Y*: 13.59%
• 5Y*: 6.70%
• 10Y*: 2.51%
• ALL TIME*: 1.91%

KORU

• 1D: 5.87%
• 1M: -41.38%
• 6M: -5.76%
• YTD: 74.82%
• 1Y: 326.36%
• 3Y*: 52.12%
• 5Y*: -3.49%
• 10Y*: 2.54%
• ALL TIME*: -0.80%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EWM iShares MSCI Malaysia ETF	$7.74M	$6.46M	$7.58M
KORU Direxion Daily MSCI South Korea Bull 3X Shares	$701.92M	$755.38M	$782.78M

EWM vs. KORU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWM iShares MSCI Malaysia ETF	4.87%	15.74%	19.46%	-3.61%	-6.00%	-7.40%	3.12%	-1.41%	-6.28%	24.25%
KORU Direxion Daily MSCI South Korea Bull 3X Shares	74.82%	432.73%	-62.18%	28.61%	-70.16%	-33.86%	48.78%	5.47%	-59.89%	167.08%

Correlation

The correlation between EWM and KORU is 0.41, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.41
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.	0.53
Correlation (All Time) Calculated using the full available price history since Apr 10, 2013	0.54

The correlation between EWM and KORU shifts across timeframes, from 0.41 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

EWM vs. KORU - Sectors Allocation Comparison

Sectors	EWM	KORU
Financial Services	51.8%	8.8%
Utilities	10.8%	0.3%
Industrials	9.9%	15.4%
Basic Materials	8.8%	1.2%
Consumer Defensive	7.3%	1.7%
Communication Services	5.3%	2.6%
Healthcare	3.1%	3.1%
Energy	2.9%	1.0%
Consumer Cyclical	1.1%	4.7%
Real Estate	-	-
Technology	-	61.3%

Return for Risk

EWM vs. KORU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EWM

EWM Risk / Return Rank: 57
EWM Sharpe Ratio Rank: 63
EWM Sortino Ratio Rank: 62
EWM Omega Ratio Rank: 58
EWM Calmar Ratio Rank: 55
EWM Martin Ratio Rank: 46

KORU

KORU Risk / Return Rank: 84
KORU Sharpe Ratio Rank: 86
KORU Sortino Ratio Rank: 79
KORU Omega Ratio Rank: 83
KORU Calmar Ratio Rank: 91
KORU Martin Ratio Rank: 82

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.

EWM vs. KORU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Malaysia ETF (EWM) and Direxion Daily MSCI South Korea Bull 3X Shares (KORU). 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.

	EWM	KORU	Difference
Sharpe ratio: Return per unit of total volatility	1.54	2.06	-0.53
Sortino ratio: Return per unit of downside risk	2.17	2.59	-0.42
Omega ratio: Gain probability vs. loss probability	1.26	1.36	-0.10
Calmar ratio: Return relative to maximum drawdown	2.04	4.06	-2.02
Martin ratio: Return relative to average drawdown	5.39	11.13	-5.73

EWM vs. KORU - Sharpe Ratio Comparison

The current EWM Sharpe Ratio is 1.54, which is comparable to the KORU Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of EWM and KORU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EWM vs. KORU - Drawdown Comparison

The maximum EWM drawdown since its inception was -89.19%, smaller than the maximum KORU drawdown of -95.79%. Use the drawdown chart below to compare losses from any high point for EWM and KORU.

Drawdown Indicators

	EWM	KORU	Difference
Max Drawdown Largest peak-to-trough decline	-89.19%	-95.79%	+6.60%
Max Drawdown (1Y) Largest decline over 1 year	-10.61%	-80.90%	+70.29%
Max Drawdown (3Y) Largest decline over 3 years	-21.31%	-80.90%	+59.59%
Max Drawdown (5Y) Largest decline over 5 years	-22.76%	-92.74%	+69.98%
Max Drawdown (10Y) Largest decline over 10 years	-43.81%	-95.79%	+51.98%
Current Drawdown Current decline from peak	-7.32%	-74.91%	+67.59%
Average Drawdown Average peak-to-trough decline	-31.70%	-57.45%	+25.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	29.49%	-25.48%

Volatility

EWM vs. KORU - Volatility Comparison

The current volatility for iShares MSCI Malaysia ETF (EWM) is 3.61%, while Direxion Daily MSCI South Korea Bull 3X Shares (KORU) has a volatility of 65.03%. This indicates that EWM experiences smaller price fluctuations and is considered to be less risky than KORU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWM	KORU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	65.03%	-61.42%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	154.04%	-143.30%
Volatility (1Y) Calculated over the trailing 1-year period	14.14%	159.66%	-145.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.79%	96.62%	-82.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.16%	85.86%	-69.70%

EWM vs. KORU - Expense Ratio Comparison

EWM has a 0.49% expense ratio, which is lower than KORU's 1.32% expense ratio.

Dividends

EWM vs. KORU - Dividend Comparison

EWM's dividend yield for the trailing twelve months is around 3.55%, more than KORU's 0.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWM iShares MSCI Malaysia ETF	3.55%	3.41%	3.32%	3.47%	3.00%	6.48%	1.89%	2.91%	3.84%	5.58%	5.97%	37.54%
KORU Direxion Daily MSCI South Korea Bull 3X Shares	0.50%	0.89%	4.10%	2.55%	0.48%	0.76%	0.01%	0.93%	1.40%	3.59%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EWM and KORU in my portfolio?

EWM and KORU have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWM or KORU?

KORU has higher volatility (65.03%) compared to EWM (3.61%). In terms of maximum drawdown, EWM dropped -89.19% vs KORU's -95.79%.

Which ETF is better, EWM or KORU?

On 10-year performance, KORU leads with 2.54% vs 2.51% for EWM. On fees, EWM is cheaper at 0.49% per year. On volatility, EWM has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWM or KORU?

Over the 10-year period, KORU has performed better with a 2.54% return vs 2.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWM or KORU?

EWM is cheaper with a 0.49% expense ratio, compared with 1.32% for KORU.

Which ETF pays a higher dividend yield, EWM or KORU?

EWM has the higher dividend yield at 3.55%, compared with 0.50% for KORU.

What is the main difference between EWM and KORU?

EWM is categorized as Asia Pacific Equities, while KORU is South Korea Equities. EWM tracks MSCI Malaysia Index, while KORU tracks MSCI Korea 25/50 Index. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.49% for EWM and 1.32% for KORU.

Which has better risk-adjusted returns?

KORU currently has the higher Sharpe Ratio (2.06 vs 1.53), 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.