EWY vs. BTC-USD
EWY (iShares MSCI South Korea ETF) is Asia Pacific Equities fund tracking the MSCI Korea Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, EWY returned 16.84%/yr vs 57.32%/yr for BTC-USD. At a 0.11 correlation, their price movements are largely independent.
Performance
EWY vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, EWY achieves a 103.10% return, which is significantly higher than BTC-USD's -27.32% return. Over the past 10 years, EWY has underperformed BTC-USD with an annualized return of 16.84%, while BTC-USD has yielded a comparatively higher 57.32% annualized return.
EWY
- 1D
- -0.75%
- 1M
- 4.68%
- YTD
- 103.10%
- 6M
- 117.85%
- 1Y
- 198.25%
- 3Y*
- 46.46%
- 5Y*
- 18.80%
- 10Y*
- 16.84%
BTC-USD
- 1D
- 0.05%
- 1M
- -19.79%
- YTD
- -27.32%
- 6M
- -29.56%
- 1Y
- -39.85%
- 3Y*
- 34.86%
- 5Y*
- 10.27%
- 10Y*
- 57.32%
EWY vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWY iShares MSCI South Korea ETF | 103.10% | 95.33% | -20.48% | 19.05% | -26.59% | -7.58% | 39.43% | 7.97% | -20.37% | 44.97% |
BTC-USD Bitcoin | -27.32% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between EWY and BTC-USD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2012 | 0.11 |
The correlation between EWY and BTC-USD shifts across timeframes, from 0.11 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EWY vs. BTC-USD — Risk / Return Rank
EWY
BTC-USD
EWY vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Korea ETF (EWY) and Bitcoin (BTC-USD). 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.
| EWY | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.22 | ||
| Sortino ratioReturn per unit of downside risk | +5.38 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 0.87 | +0.72 |
| Calmar ratioReturn relative to maximum drawdown | 8.65 | -0.78 | +9.42 |
| Martin ratioReturn relative to average drawdown | 30.24 | -1.36 | +31.60 |
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Drawdowns
EWY vs. BTC-USD - Drawdown Comparison
The maximum EWY drawdown since its inception was -74.14%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for EWY and BTC-USD.
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Drawdown Indicators
| EWY | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.14% | -85.30% | +11.16% |
Max Drawdown (1Y)Largest decline over 1 year | -23.08% | -51.21% | +28.13% |
Max Drawdown (3Y)Largest decline over 3 years | -27.36% | -51.21% | +23.85% |
Max Drawdown (5Y)Largest decline over 5 years | -48.55% | -76.67% | +28.12% |
Max Drawdown (10Y)Largest decline over 10 years | -49.73% | -83.80% | +34.07% |
Current DrawdownCurrent decline from peak | -8.88% | -49.01% | +40.13% |
Average DrawdownAverage peak-to-trough decline | -20.11% | -42.35% | +22.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.59% | 35.02% | -28.43% |
Volatility
EWY vs. BTC-USD - Volatility Comparison
iShares MSCI South Korea ETF (EWY) has a higher volatility of 25.64% compared to Bitcoin (BTC-USD) at 12.11%. This indicates that EWY's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWY | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.64% | 12.11% | +13.53% |
Volatility (6M)Calculated over the trailing 6-month period | 42.65% | 34.59% | +8.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.51% | 35.62% | +10.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.15% | 44.71% | -14.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.06% | 56.62% | -28.56% |
Frequently Asked Questions
EWY and BTC-USD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWY has higher volatility (25.64%) compared to BTC-USD (12.11%). In terms of maximum drawdown, EWY dropped -74.14% vs BTC-USD's -85.30%.
EWY currently has the higher Sharpe Ratio (4.29 vs -0.93), 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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