EWY vs. IYZ
EWY (iShares MSCI South Korea ETF) and IYZ (iShares U.S. Telecommunications ETF) are both exchange-traded funds - EWY is a Asia Pacific Equities fund tracking the MSCI Korea Index, while IYZ is a Communications Equities fund tracking the Dow Jones U.S. Select Telecommunications Index. Both are passively managed. Over the past 10 years, EWY returned 16.84%/yr vs 5.94%/yr for IYZ. At a 0.47 correlation, their price movements are largely independent. EWY charges 0.59%/yr vs 0.42%/yr for IYZ.
Performance
EWY vs. IYZ - 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 IYZ's 29.57% return. Over the past 10 years, EWY has outperformed IYZ with an annualized return of 16.84%, while IYZ has yielded a comparatively lower 5.94% annualized return.
EWY
- 1D
- -0.75%
- 1M
- 10.39%
- YTD
- 103.10%
- 6M
- 117.85%
- 1Y
- 203.95%
- 3Y*
- 46.46%
- 5Y*
- 18.80%
- 10Y*
- 16.84%
IYZ
- 1D
- 1.27%
- 1M
- 2.31%
- YTD
- 29.57%
- 6M
- 32.60%
- 1Y
- 58.27%
- 3Y*
- 28.37%
- 5Y*
- 7.57%
- 10Y*
- 5.94%
EWY vs. IYZ - 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% |
IYZ iShares U.S. Telecommunications ETF | 29.57% | 29.28% | 20.53% | 3.90% | -30.29% | 11.69% | 4.13% | 16.14% | -8.59% | -11.86% |
Correlation
The correlation between EWY and IYZ is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since May 26, 2000 | 0.47 |
The correlation between EWY and IYZ shifts across timeframes, from 0.36 (1 year) to 0.47 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EWY vs. IYZ — Risk / Return Rank
EWY
IYZ
EWY vs. IYZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Korea ETF (EWY) and iShares U.S. Telecommunications ETF (IYZ). 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 | IYZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.52 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 8.65 | 6.54 | +2.11 |
| Martin ratioReturn relative to average drawdown | 30.24 | 25.99 | +4.24 |
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Drawdowns
EWY vs. IYZ - Drawdown Comparison
The maximum EWY drawdown since its inception was -74.14%, roughly equal to the maximum IYZ drawdown of -77.11%. Use the drawdown chart below to compare losses from any high point for EWY and IYZ.
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Drawdown Indicators
| EWY | IYZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.14% | -77.11% | +2.97% |
Max Drawdown (1Y)Largest decline over 1 year | -23.08% | -8.62% | -14.46% |
Max Drawdown (3Y)Largest decline over 3 years | -27.36% | -13.85% | -13.51% |
Max Drawdown (5Y)Largest decline over 5 years | -48.55% | -39.74% | -8.81% |
Max Drawdown (10Y)Largest decline over 10 years | -49.73% | -39.74% | -9.99% |
Current DrawdownCurrent decline from peak | -8.88% | -4.77% | -4.11% |
Average DrawdownAverage peak-to-trough decline | -20.11% | -40.10% | +19.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.59% | 2.17% | +4.42% |
Volatility
EWY vs. IYZ - Volatility Comparison
iShares MSCI South Korea ETF (EWY) has a higher volatility of 25.64% compared to iShares U.S. Telecommunications ETF (IYZ) at 8.76%. This indicates that EWY's price experiences larger fluctuations and is considered to be riskier than IYZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWY | IYZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.64% | 8.76% | +16.88% |
Volatility (6M)Calculated over the trailing 6-month period | 42.65% | 15.61% | +27.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.51% | 18.65% | +27.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.15% | 18.88% | +11.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.06% | 19.30% | +8.76% |
EWY vs. IYZ - Expense Ratio Comparison
EWY has a 0.59% expense ratio, which is higher than IYZ's 0.42% expense ratio.
Dividends
EWY vs. IYZ - Dividend Comparison
EWY's dividend yield for the trailing twelve months is around 1.03%, less than IYZ's 1.53% 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% |
IYZ iShares U.S. Telecommunications ETF | 1.53% | 2.04% | 1.94% | 2.27% | 2.55% | 2.51% | 2.60% | 2.36% | 2.15% | 3.54% | 2.27% | 1.98% |
Frequently Asked Questions
EWY and IYZ have a correlation of 0.36, 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 IYZ (8.76%). In terms of maximum drawdown, EWY dropped -74.14% vs IYZ's -77.11%.
On 10-year performance, EWY leads with 16.84% vs 5.94% for IYZ. On fees, IYZ is cheaper at 0.42% per year. On volatility, IYZ has been the lower-risk option at 8.76%. 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 5.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYZ is cheaper with a 0.42% expense ratio, compared with 0.59% for EWY.
IYZ has the higher dividend yield at 1.53%, compared with 1.03% for EWY.
EWY is categorized as Asia Pacific Equities, while IYZ is Communications Equities. EWY tracks MSCI Korea Index, while IYZ tracks Dow Jones U.S. Select Telecommunications Index. Their fees differ too: 0.59% for EWY and 0.42% for IYZ.
EWY currently has the higher Sharpe Ratio (4.29 vs 3.02), 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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