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HWM vs. EWY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HWM vs. EWY

Last updated Jun 13, 2026

HWM (Howmet Aerospace Inc.) is a stock, while EWY (iShares MSCI South Korea ETF) is Asia Pacific Equities fund tracking the MSCI Korea Index. Over the past 10 years, HWM returned 33.28%/yr vs 16.84%/yr for EWY. At a 0.44 correlation, their price movements are largely independent.

Performance

HWM vs. EWY - Performance Comparison

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

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Returns By Period

In the year-to-date period, HWM achieves a 29.23% return, which is significantly lower than EWY's 103.10% return. Over the past 10 years, HWM has outperformed EWY with an annualized return of 33.28%, while EWY has yielded a comparatively lower 16.84% annualized return.

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

1D
-0.75%
1M
4.68%
YTD
103.10%
6M
117.85%
1Y
198.25%
3Y*
46.46%
5Y*
18.80%
10Y*
16.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HWM vs. EWY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HWM
Howmet Aerospace Inc.		29.23%87.95%102.71%37.84%24.16%11.67%21.03%83.54%-37.43%48.40%
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%

Correlation

The correlation between HWM and EWY 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 HWM and EWY shifts across timeframes, from 0.31 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Howmet Aerospace Inc.

iShares MSCI South Korea ETF

Often compared with HWM:
HWM vs. TDGHWM vs. HEI-AHWM vs. CBZHWM vs. TXTHWM vs. CAHHWM vs. AWIHWM vs. HLIO
Often compared with EWY:
EWY vs. FLKREWY vs. SPYEWY vs. EWJEWY vs. KORUEWY vs. QQQEWY vs. EWTEWY vs. EWH

Return for Risk

HWM vs. EWY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HWM
HWM Risk / Return Rank: 8585
Overall Rank
HWM Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
HWM Sortino Ratio Rank: 8585
Sortino Ratio Rank
HWM Omega Ratio Rank: 8181
Omega Ratio Rank
HWM Calmar Ratio Rank: 8787
Calmar Ratio Rank
HWM Martin Ratio Rank: 8888
Martin Ratio Rank
EWY
EWY Risk / Return Rank: 9595
Overall Rank
EWY Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
EWY Sortino Ratio Rank: 9393
Sortino Ratio Rank
EWY Omega Ratio Rank: 9494
Omega Ratio Rank
EWY Calmar Ratio Rank: 9797
Calmar Ratio Rank
EWY Martin Ratio Rank: 9696
Martin Ratio Rank
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.

HWM vs. EWY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Howmet Aerospace Inc. (HWM) and iShares MSCI South Korea ETF (EWY). 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.

HWMEWYDifference
Sharpe ratioReturn per unit of total volatility
1.75
4.29

-2.54

Sortino ratioReturn per unit of downside risk
2.51
4.08

-1.57

Omega ratioGain probability vs. loss probability

1.30

1.59

-0.29

Calmar ratioReturn relative to maximum drawdown

3.46

8.65

-5.19

Martin ratioReturn relative to average drawdown

9.77

30.24

-20.46

HWM vs. EWY - Sharpe Ratio Comparison

The current HWM Sharpe Ratio is 1.75, which is lower than the EWY Sharpe Ratio of 4.29. The chart below compares the historical Sharpe Ratios of HWM and EWY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HWM vs. EWY - Drawdown Comparison

The maximum HWM drawdown since its inception was -88.30%, which is greater than EWY's maximum drawdown of -74.14%. Use the drawdown chart below to compare losses from any high point for HWM and EWY.

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Drawdown Indicators

HWMEWYDifference

Max Drawdown

Largest peak-to-trough decline

-88.30%

-74.14%

-14.16%

Max Drawdown (1Y)

Largest decline over 1 year

-15.89%

-23.08%

+7.19%

Max Drawdown (3Y)

Largest decline over 3 years

-19.41%

-27.36%

+7.95%

Max Drawdown (5Y)

Largest decline over 5 years

-21.61%

-48.55%

+26.94%

Max Drawdown (10Y)

Largest decline over 10 years

-64.81%

-49.73%

-15.08%

Current Drawdown

Current decline from peak

-3.26%

-8.88%

+5.62%

Average Drawdown

Average peak-to-trough decline

-31.00%

-20.11%

-10.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.61%

6.59%

-0.98%

Volatility

HWM vs. EWY - Volatility Comparison

The current volatility for Howmet Aerospace Inc. (HWM) is 11.03%, while iShares MSCI South Korea ETF (EWY) has a volatility of 25.64%. This indicates that HWM experiences smaller price fluctuations and is considered to be less risky than EWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HWMEWYDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.03%

25.64%

-14.61%

Volatility (6M)

Calculated over the trailing 6-month period

25.03%

42.65%

-17.62%

Volatility (1Y)

Calculated over the trailing 1-year period

31.46%

46.51%

-15.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.20%

30.15%

+2.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

39.82%

28.06%

+11.76%

Dividends

HWM vs. EWY - Dividend Comparison

HWM's dividend yield for the trailing twelve months is around 0.18%, less than EWY's 1.03% yield.

PositionTTM20252024202320222021202020192018201720162015
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

HWM and EWY 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, HWM dropped -88.30% vs EWY's -74.14%.

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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