What is the fee difference between EWY and FLKR?

EWY charges 0.59% a year and FLKR charges 0.09%, a gap of 0.50 percentage points. On $10,000 invested that is roughly $59 a year for EWY against about $9 for FLKR. This is one of the largest fee gaps between two funds covering the same country, and it compounds noticeably over a multi-year holding period.

What index does each fund track?

EWY tracks the MSCI Korea 25-50 index, a capped version of MSCI Korea that limits the largest positions to meet US diversification rules, with 93 holdings. FLKR tracks the FTSE South Korea RIC Capped Index, which applies similar caps to the FTSE Korea universe and results in 165 holdings. Both are large and mid-cap Korean equity benchmarks.

How much do EWY and FLKR overlap?

The overlap is high. Eight of the ten largest positions are shared: SK hynix, Samsung Electronics, SK Square, Samsung Electro-Mechanics, KB Financial, Shinhan Financial, Hyundai Motor and Doosan Enerbility. EWY also lists Korean won cash at 5.23% and Hana Financial, while FLKR adds Samsung Electronics preferred shares at 2.22% and Hanwha Aerospace.

Which fund pays a higher dividend yield?

FLKR pays more, with a dividend yield of 2.40% compared with 1.09% for EWY. Part of that gap reflects FLKR's much lower expense ratio, since fees are deducted before distributions, and part reflects differences in holdings such as FLKR's Samsung preferred shares, which typically carry a higher yield than the common stock.

Which fund suits which goal?

FLKR's 0.09% fee and higher yield make it the lower-cost option for investors who want to hold Korean equities for the long term. EWY suits traders and institutions who need very deep liquidity, an active options market or a track record of more than 25 years. For a buy-and-hold allocation, the 0.50 percentage point fee gap is hard to ignore.

How large and liquid are EWY and FLKR?

EWY is far larger at about $26 billion in net assets, compared with roughly $1.68 billion for FLKR. Both are tradable for retail investors, but FLKR's smaller size can mean wider bid-ask spreads and lower daily volume, so using limit orders is sensible. EWY launched in May 2000 and FLKR in November 2017.

Are there tax or account considerations?

Both are US-listed ETFs holding Korean stocks, so dividends may be subject to Korean withholding tax inside the fund and then US withholding tax on distributions to non-US investors, depending on treaty status. The treatment of foreign dividends differs by country and account type. Check your local guidance or speak to a tax professional.

Can I hold both EWY and FLKR?

You can, but there is little diversification benefit because both funds hold the same Korean companies with SK hynix and Samsung at the top. Holding both simply means paying two fee levels for one exposure. Some investors keep an existing EWY position to avoid a taxable sale and direct new money to FLKR.

How concentrated are EWY and FLKR?

Both are heavily concentrated in two stocks. In EWY, SK hynix is 23.63% and Samsung Electronics 21.78%, so more than 45% of the fund sits in two companies. In FLKR the same two stocks are 20.17% and 16.99%, about 37% combined. Any Korea single-country fund carries this semiconductor concentration.

Why does EWY hold cash?

EWY's holdings list shows Korean won cash at 5.23%. Funds hold cash for reasons such as pending trades, dividend accruals and managing daily flows. A cash position of this size slightly dilutes the fund's exposure to Korean stocks when the market rises and cushions it when the market falls. FLKR's top ten does not show a comparable cash line.

EWY vs FLKR

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

EWY tracks the MSCI Korea 25-50 index with 93 holdings for a 0.59% expense ratio, while FLKR tracks the FTSE South Korea RIC Capped Index with 165 holdings for 0.09%. Both are led by SK hynix and Samsung Electronics, but EWY is far larger at about $26 billion versus $1.68 billion. EWY suits traders who value size; FLKR suits cost-focused long-term holders. Educational content, not financial advice.

EWY tracks the MSCI Korea 25-50 index with 93 holdings for a 0.59% expense ratio, while FLKR tracks the FTSE South Korea RIC Capped Index with 165 holdings for 0.09%. Both are led by SK hynix and Sams...

Fund Snapshot

Key Fund Metrics

EWY

Metric

FLKR

0.59%

Expense Ratio

0.09%

1.09%

Dividend Yield

2.40%

$26.29B

Net Assets

$1.68B

93

Holdings

165

May 9, 2000

Inception Date

Nov 2, 2017

MSCI Korea 25-50

Index Tracked

FTSE South Korea RIC Capped Index

Focused Region

Fund Category

Focused Region

FLKR costs about $50.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	EWY	FLKR
KRX: 000660SK hynix Inc.	23.63%	20.17%
KRX: 005930Samsung Electronics Co., Ltd.	21.78%	16.99%
KRX: 402340SK Square Co., Ltd.	2.80%	4.31%
KRX: 009150Samsung Electro-Mechanics Co., Ltd.	2.45%	3.42%
KRX: 105560KB Financial Group Inc.	2.07%	2.67%
KRX: 055550Shinhan Financial Group Co., Ltd.	1.69%	2.08%
KRX: 005380Hyundai Motor Company	1.56%	2.20%
KRX: 034020Doosan Enerbility Co., Ltd.	1.34%	1.68%

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EWY vs SOXX

Compare EWY and SOXX ETFs. Review expense ratios, net assets, dividend yields, holdings, and tracking differences for informed research decisions.

Investment Analysis

EWY

Pros

About $26 billion in net assets, by far the larger and more heavily traded Korea fund
Trading history back to May 2000 covers several emerging-market cycles
Widely used benchmark exposure to MSCI Korea for institutions and traders

Considerations

Expense ratio of 0.59% is more than six times FLKR's 0.09%
Dividend yield of 1.09% is less than half of FLKR's 2.40%
SK hynix and Samsung Electronics together make up more than 45% of the fund

FLKR

Pros

Expense ratio of 0.09%, about $9 a year per $10,000 invested
165 holdings give broader coverage of the Korean market than EWY's 93
Dividend yield of 2.40% from a portfolio that includes Samsung preferred shares

Considerations

Small fund at about $1.68 billion in net assets, so spreads may be wider
Shorter track record, with trading only since November 2017
Still highly concentrated, with SK hynix and Samsung above 37% combined

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