South Korea, like Japan, is an export-driven economy. Earlier this year, central bankers and policymakers there said the weak yen was one of the two biggest risks facing the economy. Federal Reserve tapering of quantitative easing was the other.

Still, compelling valuations and South Korea’s reputation for being less volatile than other emerging markets sent investors pouring into the country’s equities. As a result, EWY, with no won hedge, is up almost 15% in the past 90 days.

DXKW will be WisdomTree’s sixth currency hedged ETF and fourth introduced by the firm this year. Deutsche Asset & Wealth Management has eight currency hedged ETFs.

ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of DXJ.