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CEA1.L vs. ITWN.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CEA1.L vs. ITWN.L

Last updated Jun 26, 2026

CEA1.L (iShares MSCI EM Asia UCITS ETF (Acc)) and ITWN.L (iShares MSCI Taiwan UCITS ETF) are both Asia Pacific Equities funds from iShares - CEA1.L tracks the MSCI AC Asia Ex Japan NR USD while ITWN.L tracks the MSCI Taiwan NR USD. Both are passively managed. Over the past 10 years, CEA1.L returned 11.80%/yr vs 22.42%/yr for ITWN.L. A 0.79 correlation means they provide meaningful diversification when combined. CEA1.L charges 0.20%/yr vs 0.74%/yr for ITWN.L.

Performance

CEA1.L vs. ITWN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI EM Asia UCITS ETF (Acc) (CEA1.L) and iShares MSCI Taiwan UCITS ETF (ITWN.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CEA1.L achieves a 31.64% return, which is significantly lower than ITWN.L's 69.14% return. Over the past 10 years, CEA1.L has underperformed ITWN.L with an annualized return of 11.80%, while ITWN.L has yielded a comparatively higher 22.42% annualized return.

CEA1.L

1D
0.83%
1M
2.85%
YTD
31.64%
6M
33.65%
1Y
54.58%
3Y*
24.42%
5Y*
8.95%
10Y*
11.80%

ITWN.L

1D
-0.05%
1M
4.02%
YTD
69.14%
6M
73.32%
1Y
105.82%
3Y*
41.40%
5Y*
22.74%
10Y*
22.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CEA1.L vs. ITWN.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CEA1.L
iShares MSCI EM Asia UCITS ETF (Acc)		31.64%25.23%13.67%0.79%-11.96%-4.22%23.90%13.81%-10.88%29.65%
ITWN.L
iShares MSCI Taiwan UCITS ETF		69.14%22.61%25.77%21.84%-21.08%29.84%30.38%29.88%-3.90%16.56%

Correlation

The correlation between CEA1.L and ITWN.L is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.83

Correlation (3Y)
Calculated over the trailing 3-year period

0.75

Correlation (5Y)
Calculated over the trailing 5-year period

0.74

Correlation (10Y)
Calculated over the trailing 10-year period

0.79

Correlation (All Time)
Calculated using the full available price history since Aug 10, 2010

0.79

The correlation between CEA1.L and ITWN.L has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.

CEA1.L vs. ITWN.L - Sectors Allocation Comparison

Sectors
CEA1.L
ITWN.L

Technology

51.5%
82.6%

Financial Services

13.9%
10.4%

Consumer Cyclical

9.1%
0.9%

Communication Services

6.6%
1.3%

Industrials

6.6%
1.8%

Basic Materials

3.2%
1.8%

Healthcare

2.7%
0.5%

Energy

2.4%

-

Consumer Defensive

2.0%
0.7%

Utilities

1.3%

-

Real Estate

0.7%

-

Technology

CEA1.L
51.5%
ITWN.L
82.6%

Financial Services

CEA1.L
13.9%
ITWN.L
10.4%

Consumer Cyclical

CEA1.L
9.1%
ITWN.L
0.9%

Communication Services

CEA1.L
6.6%
ITWN.L
1.3%

Industrials

CEA1.L
6.6%
ITWN.L
1.8%

Basic Materials

CEA1.L
3.2%
ITWN.L
1.8%

Healthcare

CEA1.L
2.7%
ITWN.L
0.5%

Energy

CEA1.L
2.4%
ITWN.L

-

Consumer Defensive

CEA1.L
2.0%
ITWN.L
0.7%

Utilities

CEA1.L
1.3%
ITWN.L

-

Real Estate

CEA1.L
0.7%
ITWN.L

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI EM Asia UCITS ETF (Acc)

iShares MSCI Taiwan UCITS ETF

Often compared with CEA1.L:
CEA1.L vs. ADIVCEA1.L vs. EMV.LCEA1.L vs. XCX5.LCEA1.L vs. EMIM.LCEA1.L vs. IPACCEA1.L vs. IWDA.LCEA1.L vs. SPY
Often compared with ITWN.L:
ITWN.L vs. QQQITWN.L vs. SPINXITWN.L vs. TSMITWN.L vs. VTIITWN.L vs. VWCE.DEITWN.L vs. FLXT.DEITWN.L vs. IUIT.L

Return for Risk

CEA1.L vs. ITWN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CEA1.L
CEA1.L Risk / Return Rank: 8888
Overall Rank
CEA1.L Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
CEA1.L Sortino Ratio Rank: 8686
Sortino Ratio Rank
CEA1.L Omega Ratio Rank: 8989
Omega Ratio Rank
CEA1.L Calmar Ratio Rank: 8989
Calmar Ratio Rank
CEA1.L Martin Ratio Rank: 8585
Martin Ratio Rank
ITWN.L
ITWN.L Risk / Return Rank: 9797
Overall Rank
ITWN.L Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
ITWN.L Sortino Ratio Rank: 9696
Sortino Ratio Rank
ITWN.L Omega Ratio Rank: 9696
Omega Ratio Rank
ITWN.L Calmar Ratio Rank: 9898
Calmar Ratio Rank
ITWN.L Martin Ratio Rank: 9696
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CEA1.L vs. ITWN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM Asia UCITS ETF (Acc) (CEA1.L) and iShares MSCI Taiwan UCITS ETF (ITWN.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

CEA1.LITWN.LDifference
Sharpe ratioReturn per unit of total volatility
2.68
4.31

-1.63

Sortino ratioReturn per unit of downside risk
3.36
4.99

-1.63

Omega ratioGain probability vs. loss probability

1.49

1.69

-0.20

Calmar ratioReturn relative to maximum drawdown

4.65

11.24

-6.59

Martin ratioReturn relative to average drawdown

15.27

29.80

-14.53

CEA1.L vs. ITWN.L - Sharpe Ratio Comparison

The current CEA1.L Sharpe Ratio is 2.68, which is lower than the ITWN.L Sharpe Ratio of 4.31. The chart below compares the historical Sharpe Ratios of CEA1.L and ITWN.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

CEA1.L vs. ITWN.L - Drawdown Comparison

The maximum CEA1.L drawdown since its inception was -98.40%, which is greater than ITWN.L's maximum drawdown of -72.46%. Use the drawdown chart below to compare losses from any high point for CEA1.L and ITWN.L.

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Drawdown Indicators

CEA1.LITWN.LDifference

Max Drawdown

Largest peak-to-trough decline

-98.40%

-72.46%

-25.94%

Max Drawdown (1Y)

Largest decline over 1 year

-11.68%

-9.36%

-2.32%

Max Drawdown (3Y)

Largest decline over 3 years

-24.44%

-29.32%

+4.88%

Max Drawdown (5Y)

Largest decline over 5 years

-28.87%

-30.07%

+1.20%

Max Drawdown (10Y)

Largest decline over 10 years

-33.94%

-30.07%

-3.87%

Current Drawdown

Current decline from peak

-4.43%

-6.00%

+1.57%

Average Drawdown

Average peak-to-trough decline

-11.20%

-21.95%

+10.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.56%

3.54%

+0.02%

Volatility

CEA1.L vs. ITWN.L - Volatility Comparison

iShares MSCI EM Asia UCITS ETF (Acc) (CEA1.L) and iShares MSCI Taiwan UCITS ETF (ITWN.L) have volatilities of 10.05% and 10.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CEA1.LITWN.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.05%

10.48%

-0.43%

Volatility (6M)

Calculated over the trailing 6-month period

17.94%

20.41%

-2.47%

Volatility (1Y)

Calculated over the trailing 1-year period

20.26%

24.41%

-4.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.82%

21.14%

+1.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.01%

20.45%

+0.56%

CEA1.L vs. ITWN.L - Expense Ratio Comparison

CEA1.L has a 0.20% expense ratio, which is lower than ITWN.L's 0.74% expense ratio.

Dividends

CEA1.L vs. ITWN.L - Dividend Comparison

CEA1.L has not paid dividends to shareholders, while ITWN.L's dividend yield for the trailing twelve months is around 0.89%.

PositionTTM20252024202320222021202020192018201720162015
CEA1.L
iShares MSCI EM Asia UCITS ETF (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ITWN.L
iShares MSCI Taiwan UCITS ETF		0.89%1.50%1.37%2.14%3.54%1.33%1.83%2.30%2.72%2.74%2.86%3.21%

Frequently Asked Questions

CEA1.L and ITWN.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CEA1.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CEA1.L is cheaper with a 0.20% expense ratio, compared with 0.74% for ITWN.L.

CEA1.L tracks MSCI AC Asia Ex Japan NR USD, while ITWN.L tracks MSCI Taiwan NR USD. Their fees differ too: 0.20% for CEA1.L and 0.74% for ITWN.L.

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