PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EWT vs. EPP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWT vs. EPP

Last updated Jun 24, 2026

EWT (iShares MSCI Taiwan ETF) and EPP (iShares MSCI Pacific ex Japan ETF) are both Asia Pacific Equities funds from iShares - EWT tracks the MSCI Taiwan 25/50 Index while EPP tracks the MSCI Pacific ex-Japan Index. Both are passively managed. Over the past 10 years, EWT returned 20.43%/yr vs 7.62%/yr for EPP. A 0.66 correlation means they provide meaningful diversification when combined. EWT charges 0.59%/yr vs 0.48%/yr for EPP.

Performance

EWT vs. EPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Taiwan ETF (EWT) and iShares MSCI Pacific ex Japan ETF (EPP). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, EWT achieves a 65.65% return, which is significantly higher than EPP's 6.84% return. Over the past 10 years, EWT has outperformed EPP with an annualized return of 20.43%, while EPP has yielded a comparatively lower 7.62% annualized return.

EWT

1D
-5.64%
1M
8.67%
YTD
65.65%
6M
68.38%
1Y
99.48%
3Y*
39.48%
5Y*
19.11%
10Y*
20.43%

EPP

1D
-1.34%
1M
-1.93%
YTD
6.84%
6M
5.29%
1Y
13.95%
3Y*
12.66%
5Y*
4.60%
10Y*
7.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWT vs. EPP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWT
iShares MSCI Taiwan ETF		65.65%28.38%16.11%29.00%-28.90%26.18%31.50%33.36%-9.90%26.81%
EPP
iShares MSCI Pacific ex Japan ETF		6.84%19.70%4.76%5.76%-6.59%4.26%6.04%18.30%-10.78%26.05%

Correlation

The correlation between EWT and EPP is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.61

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

0.64

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

0.67

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

0.69

Correlation (All Time)
Calculated using the full available price history since Oct 26, 2001

0.66

The correlation between EWT and EPP has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.

EWT vs. EPP - Sectors Allocation Comparison

Sectors
EWT
EPP

Technology

76.9%
1.0%

Financial Services

12.0%
44.9%

Industrials

3.1%
8.5%

Basic Materials

2.9%
17.0%

Communication Services

1.7%
2.6%

Consumer Cyclical

1.6%
6.2%

Consumer Defensive

1.0%
2.9%

Healthcare

1.0%
3.3%

Energy

-

2.7%

Real Estate

-

7.4%

Utilities

-

3.5%

Technology

EWT
76.9%
EPP
1.0%

Financial Services

EWT
12.0%
EPP
44.9%

Industrials

EWT
3.1%
EPP
8.5%

Basic Materials

EWT
2.9%
EPP
17.0%

Communication Services

EWT
1.7%
EPP
2.6%

Consumer Cyclical

EWT
1.6%
EPP
6.2%

Consumer Defensive

EWT
1.0%
EPP
2.9%

Healthcare

EWT
1.0%
EPP
3.3%

Energy

EWT

-

EPP
2.7%

Real Estate

EWT

-

EPP
7.4%

Utilities

EWT

-

EPP
3.5%

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 Taiwan ETF

iShares MSCI Pacific ex Japan ETF

Often compared with EWT:
EWT vs. EWYEWT vs. FLTWEWT vs. VTEWT vs. QQQEWT vs. EWHEWT vs. EWSEWT vs. EWX
Often compared with EPP:
EPP vs. AAXJEPP vs. BBAXEPP vs. EWHEPP vs. AIAEPP vs. EWYEPP vs. VPLEPP vs. EWJ

Return for Risk

EWT vs. EPP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWT
EWT Risk / Return Rank: 9494
Overall Rank
EWT Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
EWT Sortino Ratio Rank: 9090
Sortino Ratio Rank
EWT Omega Ratio Rank: 9292
Omega Ratio Rank
EWT Calmar Ratio Rank: 9797
Calmar Ratio Rank
EWT Martin Ratio Rank: 9595
Martin Ratio Rank
EPP
EPP Risk / Return Rank: 2929
Overall Rank
EPP Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
EPP Sortino Ratio Rank: 2626
Sortino Ratio Rank
EPP Omega Ratio Rank: 2626
Omega Ratio Rank
EPP Calmar Ratio Rank: 3434
Calmar Ratio Rank
EPP Martin Ratio Rank: 3434
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.

EWT vs. EPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan ETF (EWT) and iShares MSCI Pacific ex Japan ETF (EPP). 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.

EWTEPPDifference
Sharpe ratioReturn per unit of total volatility
3.59
0.92

+2.67

Sortino ratioReturn per unit of downside risk
4.02
1.36

+2.66

Omega ratioGain probability vs. loss probability

1.58

1.17

+0.41

Calmar ratioReturn relative to maximum drawdown

9.52

1.59

+7.92

Martin ratioReturn relative to average drawdown

27.93

4.68

+23.25

EWT vs. EPP - Sharpe Ratio Comparison

The current EWT Sharpe Ratio is 3.59, which is higher than the EPP Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of EWT and EPP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

EWT vs. EPP - Drawdown Comparison

The maximum EWT drawdown since its inception was -64.37%, roughly equal to the maximum EPP drawdown of -66.01%. Use the drawdown chart below to compare losses from any high point for EWT and EPP.

Loading charts...

Drawdown Indicators

EWTEPPDifference

Max Drawdown

Largest peak-to-trough decline

-64.37%

-66.01%

+1.64%

Max Drawdown (1Y)

Largest decline over 1 year

-10.51%

-8.79%

-1.72%

Max Drawdown (3Y)

Largest decline over 3 years

-25.66%

-19.29%

-6.37%

Max Drawdown (5Y)

Largest decline over 5 years

-38.88%

-24.79%

-14.09%

Max Drawdown (10Y)

Largest decline over 10 years

-38.88%

-39.30%

+0.42%

Current Drawdown

Current decline from peak

-5.64%

-5.22%

-0.42%

Average Drawdown

Average peak-to-trough decline

-19.13%

-10.61%

-8.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.57%

2.99%

+0.58%

Volatility

EWT vs. EPP - Volatility Comparison

iShares MSCI Taiwan ETF (EWT) has a higher volatility of 14.88% compared to iShares MSCI Pacific ex Japan ETF (EPP) at 5.38%. This indicates that EWT's price experiences larger fluctuations and is considered to be riskier than EPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

EWTEPPDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.88%

5.38%

+9.50%

Volatility (6M)

Calculated over the trailing 6-month period

23.89%

12.79%

+11.10%

Volatility (1Y)

Calculated over the trailing 1-year period

27.85%

15.18%

+12.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.16%

17.52%

+5.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.80%

19.06%

+2.74%

EWT vs. EPP - Expense Ratio Comparison

EWT has a 0.59% expense ratio, which is higher than EPP's 0.48% expense ratio.

Dividends

EWT vs. EPP - Dividend Comparison

EWT's dividend yield for the trailing twelve months is around 2.68%, less than EPP's 3.52% yield.

PositionTTM20252024202320222021202020192018201720162015
EPP
iShares MSCI Pacific ex Japan ETF		3.52%3.77%3.81%4.10%4.37%4.58%2.28%3.89%5.00%4.15%3.96%4.90%
EWT
iShares MSCI Taiwan ETF		2.68%4.43%3.32%12.01%18.82%0.55%1.83%2.49%3.16%2.81%2.39%3.12%

Frequently Asked Questions

EWT and EPP have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWT has higher volatility (14.88%) compared to EPP (5.38%). In terms of maximum drawdown, EWT dropped -64.37% vs EPP's -66.01%.

On 10-year performance, EWT leads with 20.43% vs 7.62% for EPP. On fees, EPP is cheaper at 0.48% per year. On volatility, EPP has been the lower-risk option at 5.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWT has performed better with a 20.43% return vs 7.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EPP is cheaper with a 0.48% expense ratio, compared with 0.59% for EWT.

EPP has the higher dividend yield at 3.52%, compared with 2.68% for EWT.

EWT tracks MSCI Taiwan 25/50 Index, while EPP tracks MSCI Pacific ex-Japan Index. Their fees differ too: 0.59% for EWT and 0.48% for EPP.

EWT currently has the higher Sharpe Ratio (3.59 vs 0.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

Portfolio Optimizer

Find the right allocation for EWT and EPP

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer