EWY vs. IBIT

Last updated Aug 4, 2026

EWY (iShares MSCI South Korea ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - EWY is a South Korea Equities fund tracking the MSCI Korea Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, EWY returned 131.90% vs -43.69% for IBIT. Their 0.34 correlation means their historical movements had little consistent relationship. EWY charges 0.59%/yr vs 0.25%/yr for IBIT.

Performance

EWY vs. IBIT - Performance Comparison

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

Returns By Period

In the year-to-date period, EWY achieves a 64.82% return, which is significantly higher than IBIT's -27.17% return.

EWY

• 1D: 2.00%
• 1M: -11.05%
• 6M: 32.51%
• YTD: 64.82%
• 1Y: 131.90%
• 3Y*: 38.47%
• 5Y*: 14.28%
• 10Y*: 13.21%
• ALL TIME*: 9.71%

IBIT

• 1D: 1.46%
• 1M: 3.70%
• 6M: -18.23%
• YTD: -27.17%
• 1Y: -43.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.60%

*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)
EWY iShares MSCI South Korea ETF	$4.48B	$4.44B	$4.18B
IBIT iShares Bitcoin Trust ETF	$1.33B	$1.34B	$1.65B

EWY vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EWY iShares MSCI South Korea ETF	64.82%	95.33%	-15.16%
IBIT iShares Bitcoin Trust ETF	-27.17%	-6.41%	89.87%

Correlation

The correlation between EWY and IBIT 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 (All Time) Calculated using the full available price history since Jan 11, 2024	0.34

Return for Risk

EWY vs. IBIT — Risk / Return Rank

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

EWY

EWY Risk / Return Rank: 88
EWY Sharpe Ratio Rank: 92
EWY Sortino Ratio Rank: 82
EWY Omega Ratio Rank: 86
EWY Calmar Ratio Rank: 90
EWY Martin Ratio Rank: 88

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 3

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.

EWY vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Korea ETF (EWY) and iShares Bitcoin Trust ETF (IBIT). 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	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	2.45	-0.99	+3.44
Sortino ratio: Return per unit of downside risk	2.74	-1.44	+4.18
Omega ratio: Gain probability vs. loss probability	1.38	0.84	+0.54
Calmar ratio: Return relative to maximum drawdown	3.88	-0.82	+4.70
Martin ratio: Return relative to average drawdown	13.64	-1.26	+14.90

EWY vs. IBIT - Sharpe Ratio Comparison

The current EWY Sharpe Ratio is 2.45, which is higher than the IBIT Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of EWY and IBIT, 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

EWY vs. IBIT - Drawdown Comparison

The maximum EWY drawdown since its inception was -74.14%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for EWY and IBIT.

Drawdown Indicators

	EWY	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-74.14%	-53.30%	-20.84%
Max Drawdown (1Y) Largest decline over 1 year	-34.21%	-53.30%	+19.09%
Max Drawdown (3Y) Largest decline over 3 years	-34.21%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-47.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.73%	—	—
Current Drawdown Current decline from peak	-26.90%	-49.28%	+22.38%
Average Drawdown Average peak-to-trough decline	-20.10%	-18.29%	-1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.71%	34.80%	-25.09%

Volatility

EWY vs. IBIT - Volatility Comparison

iShares MSCI South Korea ETF (EWY) has a higher volatility of 22.12% compared to iShares Bitcoin Trust ETF (IBIT) at 8.98%. This indicates that EWY's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWY	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.12%	8.98%	+13.14%
Volatility (6M) Calculated over the trailing 6-month period	50.88%	33.79%	+17.09%
Volatility (1Y) Calculated over the trailing 1-year period	54.30%	44.48%	+9.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.79%	49.57%	-16.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.39%	49.57%	-20.18%

EWY vs. IBIT - Expense Ratio Comparison

EWY has a 0.59% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

EWY vs. IBIT - Dividend Comparison

EWY's dividend yield for the trailing twelve months is around 1.27%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWY iShares MSCI South Korea ETF	1.27%	2.10%	2.55%	2.52%	1.23%	2.16%	0.73%	2.10%	1.34%	2.90%	1.21%	2.42%
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EWY and IBIT in my portfolio?

EWY and IBIT 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, EWY or IBIT?

EWY has higher volatility (22.12%) compared to IBIT (8.98%). In terms of maximum drawdown, EWY dropped -74.14% vs IBIT's -53.30%.

Which ETF is better, EWY or IBIT?

On 1-year performance, EWY leads with 131.90% vs -43.69% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 8.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWY or IBIT?

Over the 1-year period, EWY has performed better with a 131.90% return vs -43.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWY or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 0.59% for EWY.

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

EWY has the higher dividend yield at 1.27%, compared with 0.00% for IBIT.

What is the main difference between EWY and IBIT?

EWY is categorized as South Korea Equities, while IBIT is Cryptocurrency. EWY tracks MSCI Korea Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.59% for EWY and 0.25% for IBIT.

Which has better risk-adjusted returns?

EWY currently has the higher Sharpe Ratio (2.45 vs -0.99), 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.