EWY vs. PIT
EWY (iShares MSCI South Korea ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - EWY is a Asia Pacific Equities fund tracking the MSCI Korea Index, while PIT is a Commodities fund actively managed by VanEck. EWY is passively managed, while PIT is actively managed. Over the past 3 years, EWY returned 50.62%/yr vs 19.41%/yr for PIT. At a 0.18 correlation, their price movements are largely independent. EWY charges 0.59%/yr vs 0.55%/yr for PIT.
Performance
EWY vs. PIT - Performance Comparison
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Returns By Period
In the year-to-date period, EWY achieves a 117.50% return, which is significantly higher than PIT's 30.77% return.
EWY
- 1D
- 7.09%
- 1M
- 18.22%
- YTD
- 117.50%
- 6M
- 133.15%
- 1Y
- 225.50%
- 3Y*
- 50.62%
- 5Y*
- 20.64%
- 10Y*
- 17.58%
PIT
- 1D
- -1.29%
- 1M
- -10.51%
- YTD
- 30.77%
- 6M
- 32.74%
- 1Y
- 44.04%
- 3Y*
- 19.41%
- 5Y*
- —
- 10Y*
- —
EWY vs. PIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EWY iShares MSCI South Korea ETF | 117.50% | 95.33% | -20.48% | 19.05% | -1.47% |
PIT VanEck Commodity Strategy ETF | 30.77% | 21.63% | 6.77% | -4.54% | 1.67% |
Correlation
The correlation between EWY and PIT is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022 | 0.18 |
The correlation between EWY and PIT shifts across timeframes, from -0.02 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EWY vs. PIT — Risk / Return Rank
EWY
PIT
EWY vs. PIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Korea ETF (EWY) and VanEck Commodity Strategy ETF (PIT). 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 | PIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.37 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 9.84 | 3.78 | +6.06 |
| Martin ratioReturn relative to average drawdown | 34.39 | 13.96 | +20.43 |
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Drawdowns
EWY vs. PIT - Drawdown Comparison
The maximum EWY drawdown since its inception was -74.14%, which is greater than PIT's maximum drawdown of -12.27%. Use the drawdown chart below to compare losses from any high point for EWY and PIT.
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Drawdown Indicators
| EWY | PIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.14% | -12.27% | -61.87% |
Max Drawdown (1Y)Largest decline over 1 year | -23.08% | -11.71% | -11.37% |
Max Drawdown (3Y)Largest decline over 3 years | -27.36% | -12.27% | -15.09% |
Max Drawdown (5Y)Largest decline over 5 years | -48.55% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.73% | — | — |
Current DrawdownCurrent decline from peak | -2.42% | -11.71% | +9.29% |
Average DrawdownAverage peak-to-trough decline | -20.11% | -4.03% | -16.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.59% | 3.16% | +3.43% |
Volatility
EWY vs. PIT - Volatility Comparison
iShares MSCI South Korea ETF (EWY) has a higher volatility of 26.48% compared to VanEck Commodity Strategy ETF (PIT) at 5.06%. This indicates that EWY's price experiences larger fluctuations and is considered to be riskier than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWY | PIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.48% | 5.06% | +21.42% |
Volatility (6M)Calculated over the trailing 6-month period | 43.04% | 19.35% | +23.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.01% | 21.58% | +25.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.33% | 17.51% | +12.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.15% | 17.51% | +10.64% |
EWY vs. PIT - Expense Ratio Comparison
EWY has a 0.59% expense ratio, which is higher than PIT's 0.55% expense ratio.
Dividends
EWY vs. PIT - Dividend Comparison
EWY's dividend yield for the trailing twelve months is around 0.96%, less than PIT's 6.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWY iShares MSCI South Korea ETF | 0.96% | 2.10% | 2.55% | 2.52% | 1.23% | 2.16% | 0.73% | 2.10% | 1.34% | 2.90% | 1.21% | 2.42% |
PIT VanEck Commodity Strategy ETF | 6.82% | 8.92% | 3.59% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EWY and PIT have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWY has higher volatility (26.48%) compared to PIT (5.06%). In terms of maximum drawdown, EWY dropped -74.14% vs PIT's -12.27%.
On 3-year performance, EWY leads with 50.62% vs 19.41% for PIT. On fees, PIT is cheaper at 0.55% per year. On volatility, PIT has been the lower-risk option at 5.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EWY has performed better with a 50.62% return vs 19.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PIT is cheaper with a 0.55% expense ratio, compared with 0.59% for EWY.
PIT has the higher dividend yield at 6.82%, compared with 0.96% for EWY.
EWY is categorized as Asia Pacific Equities, while PIT is Commodities. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.59% for EWY and 0.55% for PIT.
EWY currently has the higher Sharpe Ratio (4.84 vs 2.05), 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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