EWY’s worst drop since 2000 was 74%
iShares MSCI South Korea ETF (EWY) fell 74% from Oct 2007 to Nov 2008. It took 9.5 years from that peak to close at a new high, in May 2017. Over the same years the S&P 500 fell as much as 55%.
That drop ranks 31st deepest among the 203 ETFs PortfolioAutopsy tracks.
Drawdown from the last high, 2000 to now
How EWY held up in each crash
| Crash | Years | EWY | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | −74.1% | −55.2% |
| COVID crash | 2020 | −39.2% | −33.7% |
| 2022 rate shock | 2022 | −40.6% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was EWY’s maximum drawdown?
EWY’s deepest fall since 2000 was 74.1%, from its high on October 31, 2007 to its low on November 20, 2008. The figure uses daily prices with dividends reinvested.
How long did EWY take to recover?
9.5 years. EWY first closed above its Oct 2007 high again on May 15, 2017.
Was EWY riskier than the S&P 500?
Over the same years, EWY’s worst drop was 74.1% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −70.9% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, May 15, 2000 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.