EWY vs. HWM
EWY (iShares MSCI South Korea ETF) is Asia Pacific Equities fund tracking the MSCI Korea Index, while HWM (Howmet Aerospace Inc.) is a stock. Over the past 10 years, EWY returned 16.84%/yr vs 33.28%/yr for HWM. At a 0.44 correlation, their price movements are largely independent.
Performance
EWY vs. HWM - 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 HWM's 29.23% return. Over the past 10 years, EWY has underperformed HWM with an annualized return of 16.84%, while HWM has yielded a comparatively higher 33.28% 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%
HWM
- 1D
- 0.03%
- 1M
- -3.09%
- YTD
- 29.23%
- 6M
- 33.60%
- 1Y
- 54.66%
- 3Y*
- 79.69%
- 5Y*
- 50.00%
- 10Y*
- 33.28%
EWY vs. HWM - 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% |
HWM Howmet Aerospace Inc. | 29.23% | 87.95% | 102.71% | 37.84% | 24.16% | 11.67% | 21.03% | 83.54% | -37.43% | 48.40% |
Correlation
The correlation between EWY and HWM is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since May 12, 2000 | 0.44 |
The correlation between EWY and HWM shifts across timeframes, from 0.31 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EWY vs. HWM — Risk / Return Rank
EWY
HWM
EWY vs. HWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Korea ETF (EWY) and Howmet Aerospace Inc. (HWM). 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 | HWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.54 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.30 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 8.65 | 3.46 | +5.19 |
| Martin ratioReturn relative to average drawdown | 30.24 | 9.77 | +20.46 |
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Drawdowns
EWY vs. HWM - Drawdown Comparison
The maximum EWY drawdown since its inception was -74.14%, smaller than the maximum HWM drawdown of -88.30%. Use the drawdown chart below to compare losses from any high point for EWY and HWM.
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Drawdown Indicators
| EWY | HWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.14% | -88.30% | +14.16% |
Max Drawdown (1Y)Largest decline over 1 year | -23.08% | -15.89% | -7.19% |
Max Drawdown (3Y)Largest decline over 3 years | -27.36% | -19.41% | -7.95% |
Max Drawdown (5Y)Largest decline over 5 years | -48.55% | -21.61% | -26.94% |
Max Drawdown (10Y)Largest decline over 10 years | -49.73% | -64.81% | +15.08% |
Current DrawdownCurrent decline from peak | -8.88% | -3.26% | -5.62% |
Average DrawdownAverage peak-to-trough decline | -20.11% | -31.00% | +10.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.59% | 5.61% | +0.98% |
Volatility
EWY vs. HWM - Volatility Comparison
iShares MSCI South Korea ETF (EWY) has a higher volatility of 25.64% compared to Howmet Aerospace Inc. (HWM) at 11.03%. This indicates that EWY's price experiences larger fluctuations and is considered to be riskier than HWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWY | HWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.64% | 11.03% | +14.61% |
Volatility (6M)Calculated over the trailing 6-month period | 42.65% | 25.03% | +17.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.51% | 31.46% | +15.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.15% | 32.20% | -2.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.06% | 39.82% | -11.76% |
Dividends
EWY vs. HWM - Dividend Comparison
EWY's dividend yield for the trailing twelve months is around 1.03%, more than HWM's 0.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
HWM Howmet Aerospace Inc. | 0.18% | 0.21% | 0.24% | 0.31% | 0.25% | 0.13% | 0.05% | 0.39% | 1.42% | 0.88% | 40.49% | 1.22% |
Frequently Asked Questions
EWY and HWM have a correlation of 0.31, 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 HWM (11.03%). In terms of maximum drawdown, EWY dropped -74.14% vs HWM's -88.30%.
EWY currently has the higher Sharpe Ratio (4.29 vs 1.75), 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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