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EWY vs. EUFN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWY vs. EUFN

Last updated Jun 13, 2026

EWY (iShares MSCI South Korea ETF) and EUFN (iShares MSCI Europe Financials ETF) are both exchange-traded funds - EWY is a Asia Pacific Equities fund tracking the MSCI Korea Index, while EUFN is a Financials Equities fund tracking the MSCI Europe Financials Index. Both are passively managed. Over the past 10 years, EWY returned 16.84%/yr vs 13.48%/yr for EUFN. A 0.57 correlation means they provide meaningful diversification when combined. EWY charges 0.59%/yr vs 0.48%/yr for EUFN.

Performance

EWY vs. EUFN - Performance Comparison

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

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Returns By Period

In the year-to-date period, EWY achieves a 103.10% return, which is significantly higher than EUFN's 4.75% return. Over the past 10 years, EWY has outperformed EUFN with an annualized return of 16.84%, while EUFN has yielded a comparatively lower 13.48% annualized return.

EWY

1D
-0.75%
1M
3.64%
YTD
103.10%
6M
117.85%
1Y
203.95%
3Y*
46.46%
5Y*
18.80%
10Y*
16.84%

EUFN

1D
1.20%
1M
3.43%
YTD
4.75%
6M
9.10%
1Y
28.57%
3Y*
32.04%
5Y*
18.43%
10Y*
13.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWY vs. EUFN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
EUFN
iShares MSCI Europe Financials ETF		4.75%65.73%17.20%26.15%-8.78%19.13%-8.55%20.73%-23.14%26.94%

Correlation

The correlation between EWY and EUFN is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.45

Correlation (3Y)
Calculated over the trailing 3-year period

0.50

Correlation (5Y)
Calculated over the trailing 5-year period

0.55

Correlation (10Y)
Calculated over the trailing 10-year period

0.55

Correlation (All Time)
Calculated using the full available price history since Feb 3, 2010

0.57

The correlation between EWY and EUFN shifts across timeframes, from 0.45 (1 year) to 0.57 (all time), reflecting how their relationship changes across market environments.

EWY vs. EUFN - Sectors Allocation Comparison

Sectors
EWY
EUFN

Technology

52.4%
1.0%

Industrials

20.4%
0.4%

Financial Services

9.6%
97.1%

Consumer Cyclical

5.7%
0.2%

Healthcare

3.5%

-

Communication Services

2.9%

-

Basic Materials

2.0%

-

Consumer Defensive

1.7%

-

Energy

1.4%

-

Utilities

0.4%

-

Real Estate

-

-

Technology

EWY
52.4%
EUFN
1.0%

Industrials

EWY
20.4%
EUFN
0.4%

Financial Services

EWY
9.6%
EUFN
97.1%

Consumer Cyclical

EWY
5.7%
EUFN
0.2%

Healthcare

EWY
3.5%
EUFN

-

Communication Services

EWY
2.9%
EUFN

-

Basic Materials

EWY
2.0%
EUFN

-

Consumer Defensive

EWY
1.7%
EUFN

-

Energy

EWY
1.4%
EUFN

-

Utilities

EWY
0.4%
EUFN

-

Real Estate

EWY

-

EUFN

-

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 South Korea ETF

iShares MSCI Europe Financials ETF

Often compared with EWY:
EWY vs. FLKREWY vs. SPYEWY vs. EWJEWY vs. KORUEWY vs. QQQEWY vs. EWTEWY vs. EWH
Often compared with EUFN:
EUFN vs. XLFEUFN vs. FDDEUFN vs. SPYEUFN vs. GSIBEUFN vs. EURLEUFN vs. IEUREUFN vs. EIRL

Return for Risk

EWY vs. EUFN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWY
EWY Risk / Return Rank: 9595
Overall Rank
EWY Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
EWY Sortino Ratio Rank: 9393
Sortino Ratio Rank
EWY Omega Ratio Rank: 9494
Omega Ratio Rank
EWY Calmar Ratio Rank: 9797
Calmar Ratio Rank
EWY Martin Ratio Rank: 9696
Martin Ratio Rank
EUFN
EUFN Risk / Return Rank: 4242
Overall Rank
EUFN Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
EUFN Sortino Ratio Rank: 4242
Sortino Ratio Rank
EUFN Omega Ratio Rank: 3939
Omega Ratio Rank
EUFN Calmar Ratio Rank: 4141
Calmar Ratio Rank
EUFN Martin Ratio Rank: 4444
Martin Ratio Rank
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.

EWY vs. EUFN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Korea ETF (EWY) and iShares MSCI Europe Financials ETF (EUFN). 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.

EWYEUFNDifference
Sharpe ratioReturn per unit of total volatility
4.29
1.31

+2.98

Sortino ratioReturn per unit of downside risk
4.08
1.92

+2.16

Omega ratioGain probability vs. loss probability

1.59

1.23

+0.36

Calmar ratioReturn relative to maximum drawdown

8.65

1.79

+6.86

Martin ratioReturn relative to average drawdown

30.24

6.24

+24.00

EWY vs. EUFN - Sharpe Ratio Comparison

The current EWY Sharpe Ratio is 4.29, which is higher than the EUFN Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of EWY and EUFN, 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

EWY vs. EUFN - Drawdown Comparison

The maximum EWY drawdown since its inception was -74.14%, which is greater than EUFN's maximum drawdown of -53.25%. Use the drawdown chart below to compare losses from any high point for EWY and EUFN.

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Drawdown Indicators

EWYEUFNDifference

Max Drawdown

Largest peak-to-trough decline

-74.14%

-53.25%

-20.89%

Max Drawdown (1Y)

Largest decline over 1 year

-23.08%

-14.77%

-8.31%

Max Drawdown (3Y)

Largest decline over 3 years

-27.36%

-15.95%

-11.41%

Max Drawdown (5Y)

Largest decline over 5 years

-48.55%

-35.15%

-13.40%

Max Drawdown (10Y)

Largest decline over 10 years

-49.73%

-53.25%

+3.52%

Current Drawdown

Current decline from peak

-8.88%

-0.10%

-8.78%

Average Drawdown

Average peak-to-trough decline

-20.11%

-14.53%

-5.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.59%

4.23%

+2.36%

Volatility

EWY vs. EUFN - Volatility Comparison

iShares MSCI South Korea ETF (EWY) has a higher volatility of 25.64% compared to iShares MSCI Europe Financials ETF (EUFN) at 6.96%. This indicates that EWY's price experiences larger fluctuations and is considered to be riskier than EUFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWYEUFNDifference

Volatility (1M)

Calculated over the trailing 1-month period

25.64%

6.96%

+18.68%

Volatility (6M)

Calculated over the trailing 6-month period

42.65%

17.05%

+25.60%

Volatility (1Y)

Calculated over the trailing 1-year period

46.51%

20.17%

+26.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.15%

21.88%

+8.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.06%

24.53%

+3.53%

EWY vs. EUFN - Expense Ratio Comparison

EWY has a 0.59% expense ratio, which is higher than EUFN's 0.48% expense ratio.

Dividends

EWY vs. EUFN - Dividend Comparison

EWY's dividend yield for the trailing twelve months is around 1.03%, less than EUFN's 3.41% yield.

PositionTTM20252024202320222021202020192018201720162015
EUFN
iShares MSCI Europe Financials ETF		3.41%3.57%5.36%5.00%4.24%4.15%1.38%4.55%6.48%3.04%4.03%3.65%
EWY
iShares MSCI South Korea ETF		1.03%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

EWY and EUFN have a correlation of 0.45, 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 EUFN (6.96%). In terms of maximum drawdown, EWY dropped -74.14% vs EUFN's -53.25%.

On 10-year performance, EWY leads with 16.84% vs 13.48% for EUFN. On fees, EUFN is cheaper at 0.48% per year. On volatility, EUFN has been the lower-risk option at 6.96%. 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 16.84% return vs 13.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EUFN is cheaper with a 0.48% expense ratio, compared with 0.59% for EWY.

EUFN has the higher dividend yield at 3.41%, compared with 1.03% for EWY.

EWY is categorized as Asia Pacific Equities, while EUFN is Financials Equities. EWY tracks MSCI Korea Index, while EUFN tracks MSCI Europe Financials Index. Their fees differ too: 0.59% for EWY and 0.48% for EUFN.

EWY currently has the higher Sharpe Ratio (4.29 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.

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