Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
AIRR vs EWY: how they differ
Over the year EWY returned more, +147.9% against +15.0%, and EWY charges 0.59% against 0.69%.
First Trust RBA American Industrial Renaissance ETF and iShares MSCI South Korea ETF.
What they hold in common
By the books each fund has filed, AIRR and EWY hold 0% of their money in the same securities at the same weight.
| Only in AIRR | Only in EWY |
|---|---|
| IES Holdings, Inc. 3.83% | SK HYNIX 24.02% |
| Kratos Defense & Security Solutions, Inc 3.38% | SAMSUNG ELECTRONICS LTD 22.13% |
| SPX Technologies 3.10% | SK SQUARE 3.01% |
| BWX Technologies, Inc. 3.09% | KRW CASH 2.49% |
| Owens Corning 3.03% | SAMSUNG ELECTRO MECHANICS LTD 2.46% |
| Nextpower Inc. (Class A) 2.89% | KB FINANCIAL GROUP 1.92% |
| Saia, Inc. 2.83% | HYUNDAI MOTOR 1.60% |
| C.H. Robinson Worldwide, Inc. 2.77% | SHINHAN FINANCIAL GROUP 1.57% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Sep 10, 2026.
| AIRR First Trust RBA American Industrial Renaissance ETF | EWY iShares MSCI South Korea ETF | |
|---|---|---|
| Where it sits | Thematic ETF | Core index fund |
| Issuer | First Trust | iShares |
| What it is | Reshoring and manufacturing | MSCI South Korea |
| Total return, 1 year | +15.0% | +147.9% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −2.5 pts | +130.4 pts |
| Expense ratio | 0.69% | 0.59% |
| Already in the S&P 500 | 5.5% | 0.0% |
| Holdings | 58 | 80 |
AIRR in plain words
By weight, 6% of AIRR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 30% of the fund across 58 positions, as published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned +15.0% with distributions reinvested against +17.5% for the S&P 500, so a holder was behind by 2.5 pts. It sits 19.5% below its all-time high of Jun 22, 2026.
EWY in plain words
EWY is an index equity fund tracking the MSCI South Korea. Over the year to Sep 11, 2026 it returned +147.9% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.59% a year. By its holdings filed for Sep 10, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 80 positions, with the top ten at 61.9%. It sat 13.9% below its high of Jun 18, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, AIRR or EWY?
- In the year to Sep 13, 2026, with distributions reinvested, AIRR returned +15.0% and EWY returned +147.9%, so EWY returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, AIRR or EWY?
- AIRR charges 0.69% a year and EWY charges 0.59%, so EWY is cheaper. Fees come from each fund's prospectus.
- How much do AIRR and EWY overlap with the S&P 500?
- By their latest filed holdings, 6% of AIRR and 0% of EWY by weight is stocks the S&P 500 already holds. Between the two funds, 0% of their books are the same securities at the same weight.
- Are AIRR and EWY the same kind of fund?
- No. AIRR is a thematic ETF and EWY is an index ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each actually holds.
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, AIRR against EWY, data as of Sep 13, 2026. https://etfiq.com/compare/any/airr-vs-ewy Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources