SPY backtest in KRW: long-term returns with the exchange rate
How would exchange-rate changes affect the return on the same SPY investment measured in KRW?
SPY 100% from 2008-10-01 to 2026-10-23, KRW 10 million initially, no contributions and reinvested dividends. Compare with the USD return over the same period.
Data as of 2026-10-23
Backtest results
Backtest Period 2008.10.01 ~ 2026.10.23 · 18 yr 1 mo
Final Balance ₩100M
Annualized return +13.6%
Max drawdown · daily -30.1%
Loss after a 1-year hold 3%
Performance
Growth Chart
My Portfolio CAGR +13.6%
SPY CAGR +13.6%
Money put in
Shaded: major market crises GFC (2008–09)COVID-19 (Feb–Mar 2020)Bear Market (2022)
Holding-period outcomes
Held 1 year(s), 3% of start dates lost money; held 3 years, none did · worst +0.6%/yr
Held Annualized return · worst to best Losses
1 years -13.3% ~ +47.4% 3%6/205
3 years +0.6% ~ +28.7% 0%0/181
5 years +7.6% ~ +23.1% 0%0/157
7 years +9.6% ~ +21.5% 0%0/133
10 years +11.0% ~ +18.8% 0%0/97
Return spread for one holding periodPick a holding period to see its spread and each start month
Worst · average · best by holding period (table)Per-year returns and share of positive periods for 1–10 year holds
Annual & monthly returns
Up in 15 of 17 years · best 2024 +43.4% · worst 2022 -13.3%
Completed months · through 2026-09
Current Streak 4 mo down
Longest Gain Streak 10mo
Longest Loss Streak 4mo
Trailing returns
1 yearstotal +11.7% +11.7% +0.0pp
3 yearsper year +22.8% +22.8% +0.0pp
5 yearsper year +16.7% +16.7% +0.0pp
10 yearsper year +17.6% +17.6% +0.0pp
Fullper year +13.8% +13.8% +0.0pp
| Cumulative return | Annualized return | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 7Y | 10Y | Full | |
| My portfolio | -2.26% | -10.32% | +4.98% | +5.86% | +11.67% | +22.84% | +16.67% | +18.04% | +17.61% | +13.78% |
| SPY | -2.26% | -10.32% | +4.98% | +5.86% | +11.67% | +22.84% | +16.67% | +18.04% | +17.61% | +13.78% |
| Difference | +0.00pp | +0.00pp | +0.00pp | +0.00pp | +0.00pp | +0.00pp | +0.00pp | +0.00pp | +0.00pp | +0.00pp |
Growth Milestones3× in 10.6 yrs · 5× in 13.1 yrs · 10× in 17.2 yrs
10.0× your principal ₩10M → now ₩100M
- 1.5× Reached 2013-07 · took 4.8 yrs
- 2× Reached 2015-07 · took 6.8 yrs
- 3× Reached 2019-04 · took 10.6 yrs
- 5× Reached 2021-11 · took 13.1 yrs
- 10× Reached 2025-12 · took 17.2 yrs
Purchasing power — assuming 2.5% annual inflation+10.8% a year after inflation · +13.6% before
Annualized return
Nominal +13.6%
Real (Infl.-Adj.) +10.8%
Cumulative return
Nominal +900.0%
Real (Infl.-Adj.) +540.2%
Risk & recovery
Deepest fall -30.1% (2020.03) · 173 days from peak to recovery · now 12.6% below the peak
vs SPY
The same money in SPY would also have grown to ₩100M, level with this portfolio
Assets & diversification
Scenarios
Shuffles past monthly returns into 500 possible futures
Data & export
19 years of yearly and 4,545 days of daily records · CSV download