South Korean defense stocks rallied on Tuesday on hopes of potential easing of tensions between Iran and the U.S., boosting sentiment toward a country that relies heavily on Middle Eastern energy imports.
The rally extended a surge that has seen South Korea-focused ETFs Shares MSCI South Korea ETF (NYSE:EWY) and Direxion Daily South Korea Bull 3X ETF (NYSE:KORU), as well as the PLUS Korea Defense Industry Index ETF (NYSE:KDEF) gain between 16% and more than 1,400% over the past year. iShares MSCI South Korea ETF (NYSE:EWY) The fund is the largest U.S.-listed fund focused on South Korean equities, providing exposure to some of the country's biggest companies.
The fund has approximately 24.31billion in assets under management and charges an expense ratio of 0.59%.
Price Action: EWY, which climbed 7.09% on Tuesday, has gained roughly 117% year-to-date and is up 218% over the past 12 months.
Read Also: Ed Yardeni Says He Hasn't 'Been Bullish Enough,' Predicts S&P 500 Will Hit 10,000 By 2029 Direxion Daily South Korea Bull 3X ETF (NYSE:KORU) The ETF seeks to deliver three times the daily performance of an index of South Korean equities and has about 55.19 million in assets under management and charges an expense ratio of 1.32%.
