EWY vs. KORU

Last updated Jul 14, 2026

EWY (iShares MSCI South Korea ETF) and KORU (Direxion Daily MSCI South Korea Bull 3X Shares) are both South Korea Equities funds - EWY tracks the MSCI Korea Index while KORU tracks the MSCI Korea 25/50 Index. Both are passively managed. Over the past 10 years, EWY returned 14.08%/yr vs 6.31%/yr for KORU. With a 0.98 correlation, they move nearly in lockstep. EWY charges 0.59%/yr vs 1.32%/yr for KORU.

Performance

EWY vs. KORU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI South Korea ETF (EWY) and Direxion Daily MSCI South Korea Bull 3X Shares (KORU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EWY achieves a 72.82% return, which is significantly lower than KORU's 130.89% return. Over the past 10 years, EWY has outperformed KORU with an annualized return of 14.08%, while KORU has yielded a comparatively lower 6.31% annualized return.

EWY

• 1D: -8.45%
• 1M: -14.91%
• 6M: 54.25%
• YTD: 72.82%
• 1Y: 136.76%
• 3Y*: 39.02%
• 5Y*: 15.37%
• 10Y*: 14.08%

KORU

• 1D: -24.74%
• 1M: -49.18%
• 6M: 66.57%
• YTD: 130.89%
• 1Y: 413.07%
• 3Y*: 60.31%
• 5Y*: 1.85%
• 10Y*: 6.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EWY vs. KORU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWY iShares MSCI South Korea ETF	72.82%	95.33%	-20.48%	19.05%	-26.59%	-7.58%	39.43%	7.97%	-20.37%	44.97%
KORU Direxion Daily MSCI South Korea Bull 3X Shares	130.89%	432.73%	-62.18%	28.61%	-70.16%	-33.86%	48.78%	5.47%	-59.89%	167.08%

Correlation

The correlation between EWY and KORU is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Apr 10, 2013	0.98

The correlation between EWY and KORU has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

EWY vs. KORU - Sectors Allocation Comparison

Sectors	EWY	KORU
Technology	60.9%	63.4%
Industrials	14.5%	15.2%
Financial Services	8.9%	7.4%
Consumer Cyclical	4.8%	5.5%
Healthcare	3.1%	2.5%
Communication Services	2.2%	2.1%
Basic Materials	2.0%	1.4%
Consumer Defensive	1.8%	1.3%
Energy	0.6%	0.9%
Utilities	0.3%	0.3%
Real Estate	-	-

Return for Risk

EWY vs. KORU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EWY

EWY Risk / Return Rank: 90
EWY Sharpe Ratio Rank: 93
EWY Sortino Ratio Rank: 82
EWY Omega Ratio Rank: 87
EWY Calmar Ratio Rank: 95
EWY Martin Ratio Rank: 93

KORU

KORU Risk / Return Rank: 89
KORU Sharpe Ratio Rank: 94
KORU Sortino Ratio Rank: 79
KORU Omega Ratio Rank: 85
KORU Calmar Ratio Rank: 95
KORU Martin Ratio Rank: 92

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. KORU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Korea ETF (EWY) and Direxion Daily MSCI South Korea Bull 3X Shares (KORU). 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	KORU	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.78	-0.08
Sortino ratio: Return per unit of downside risk	2.89	2.78	+0.11
Omega ratio: Gain probability vs. loss probability	1.42	1.40	+0.02
Calmar ratio: Return relative to maximum drawdown	5.89	6.23	-0.34
Martin ratio: Return relative to average drawdown	18.50	17.42	+1.08

EWY vs. KORU - Sharpe Ratio Comparison

The current EWY Sharpe Ratio is 2.70, which is comparable to the KORU Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of EWY and KORU, 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. KORU - Drawdown Comparison

The maximum EWY drawdown since its inception was -74.14%, smaller than the maximum KORU drawdown of -95.79%. Use the drawdown chart below to compare losses from any high point for EWY and KORU.

Drawdown Indicators

	EWY	KORU	Difference
Max Drawdown Largest peak-to-trough decline	-74.14%	-95.79%	+21.65%
Max Drawdown (1Y) Largest decline over 1 year	-23.35%	-66.86%	+43.51%
Max Drawdown (3Y) Largest decline over 3 years	-27.36%	-73.34%	+45.98%
Max Drawdown (5Y) Largest decline over 5 years	-47.23%	-92.82%	+45.59%
Max Drawdown (10Y) Largest decline over 10 years	-49.73%	-95.79%	+46.06%
Current Drawdown Current decline from peak	-23.35%	-66.86%	+43.51%
Average Drawdown Average peak-to-trough decline	-20.09%	-57.39%	+37.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.42%	23.85%	-16.43%

Volatility

EWY vs. KORU - Volatility Comparison

The current volatility for iShares MSCI South Korea ETF (EWY) is 25.85%, while Direxion Daily MSCI South Korea Bull 3X Shares (KORU) has a volatility of 78.13%. This indicates that EWY experiences smaller price fluctuations and is considered to be less risky than KORU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWY	KORU	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.85%	78.13%	-52.28%
Volatility (6M) Calculated over the trailing 6-month period	47.91%	145.83%	-97.92%
Volatility (1Y) Calculated over the trailing 1-year period	51.11%	150.12%	-99.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.74%	93.49%	-61.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.80%	84.08%	-55.28%

EWY vs. KORU - Expense Ratio Comparison

EWY has a 0.59% expense ratio, which is lower than KORU's 1.32% expense ratio.

Dividends

EWY vs. KORU - Dividend Comparison

EWY's dividend yield for the trailing twelve months is around 1.21%, more than KORU's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWY iShares MSCI South Korea ETF	1.21%	2.10%	2.55%	2.52%	1.23%	2.16%	0.73%	2.10%	1.34%	2.90%	1.21%	2.42%
KORU Direxion Daily MSCI South Korea Bull 3X Shares	0.38%	0.89%	4.10%	2.55%	0.48%	0.76%	0.01%	0.93%	1.40%	3.59%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EWY and KORU in my portfolio?

With a correlation of 1.00, EWY and KORU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EWY or KORU?

KORU has higher volatility (78.13%) compared to EWY (25.85%). In terms of maximum drawdown, EWY dropped -74.14% vs KORU's -95.79%.

Which ETF is better, EWY or KORU?

On 10-year performance, EWY leads with 14.08% vs 6.31% for KORU. On fees, EWY is cheaper at 0.59% per year. On volatility, EWY has been the lower-risk option at 25.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWY or KORU?

Over the 10-year period, EWY has performed better with a 14.08% return vs 6.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWY or KORU?

EWY is cheaper with a 0.59% expense ratio, compared with 1.32% for KORU.

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

EWY has the higher dividend yield at 1.21%, compared with 0.38% for KORU.

What is the main difference between EWY and KORU?

EWY tracks MSCI Korea Index, while KORU tracks MSCI Korea 25/50 Index. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.59% for EWY and 1.32% for KORU.

Which has better risk-adjusted returns?

KORU currently has the higher Sharpe Ratio (2.78 vs 2.70), 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.