This South Korean ETF is smashing records but 2 single-name Korean stocks look more attractive

EWY is 66 percent above its 200-day moving average, the most extreme reading in the ETF's history. The Korea Value-Up reform thesis is real, but EWY is a leveraged HBM memory bet wearing a country-diversification disguise, and 2 single-name alternatives express the same reform thesis with a fraction of the chip-cycle risk.