What if you invested monthly in an Korea MSCI ETF (EWY) for 20 years?
See what a 20-year monthly plan into EWY—dollar-denominated exposure to Korean large caps like Samsung Electronics—would have looked like using real price data, and what it means that it is priced in dollars rather than won.
Investment conditions
Asset · Korea MSCI ETF (EWY)
Method · Recurring monthly investment
Period · 2006-07-01 ~ 2026-07-01
Amount · $222 / month
As of · 2026-07-01
Key metrics
These results do not reflect taxes. Based on historical data.
Risk & recovery
As important as returns. This service does not hide maximum drawdown or loss periods.
Maximum drawdown (MDD)
-58.5%
Largest drop from peak
Longest loss period
15months
Months in loss: 20
Recovery period
5months
Growth over time
Invested principal (dashed) and portfolio value (solid). Values below match the calculation.
Total invested $53,556 → Final value $208,698 (+289.7%), Maximum drawdown (MDD) -58.5%
Why this period and asset
EWY is a dollar-denominated ETF tracking the MSCI Korea Index, heavily weighted toward Korean large caps such as Samsung Electronics and SK hynix. From 2006 to 2026, Korean equities swung sharply with the semiconductor and export cycle. They fell hard in the 2008 global financial crisis alongside a plunging won, then rallied in the chip supercycles (2017–2018, 2020–2021), yet spent long stretches range-bound. Because EWY is dollar-denominated, a weaker won makes the won-based domestic result diverge from the dollar result—a pronounced currency effect.
Interpreting the result
This scenario shows that even the 'same Korean market' carries a large currency effect when held in dollars. On the results screen, be sure to check the maximum drawdown, the underwater period, and the recovery time. Korea is sensitive to the export and chip cycle, so volatility is high and there can be long stretches below your principal. Monthly investing buys more units during declines but does not remove single-country concentration or currency risk.
Caveats & limits
EWY is dollar-denominated, so exchange rates can work on two layers for a won-based investor. It is highly concentrated in a single country (Korea) and sector (semiconductors), so its cycle drives results. The ETF's expense ratio, trading costs, and taxes also affect real performance. Past behavior does not guarantee future results, and this page does not recommend buying any specific asset.
Data sources & limits
- Price data source: Yahoo Finance / FinanceDataReader
- Collected on: 2026-07-23
- Effective trading date: 2026-07-01
- Price basis: Adjusted close (reflects dividends and stock splits)
- Trading fees and taxes are not reflected — figures are pre-tax.
- Based on historical data; does not guarantee future returns.
Frequently asked questions
How is EWY different from buying the KOSPI domestically?
EWY is dollar-denominated, so its currency effect differs. When the won weakens, the won-based domestic result and the dollar-based result can diverge, so even the same Korean market can produce different calculated outcomes.
Korea has a heavy semiconductor weight—is that risky?
Risk cannot be declared outright, but volatility does rise with the chip cycle. Sector concentration helps in upswings and deepens drawdowns in downturns, so it is worth checking the maximum drawdown on the results screen.
Doesn't adding exchange rates make the math complicated?
EWY trades in dollars, so USD/KRW affects won-based returns. When reading the results, keep in mind that the outcome reflects not only index moves but also the currency effect.
Related scenarios
📋 Results are based on historical data; past returns do not guarantee future returns.
📋 This service is provided for educational purposes to help you understand investing, not as investment advice.