EWT vs. EWX
Compare and contrast key facts about iShares MSCI Taiwan ETF (EWT) and SPDR S&P Emerging Markets Small Cap ETF (EWX).
EWT and EWX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWT is a passively managed fund by iShares that tracks the performance of the MSCI Taiwan Index. It was launched on Jun 20, 2000. EWX is a passively managed fund by State Street that tracks the performance of the S&P Emerging Markets Under USD2 Billion Index. It was launched on May 12, 2008. Both EWT and EWX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
EWT vs. EWX - Performance Comparison
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EWT vs. EWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWT iShares MSCI Taiwan ETF | 11.63% | 28.38% | 16.11% | 23.97% | -28.90% | 26.18% | 31.50% | 33.36% | -9.90% | 26.81% |
EWX SPDR S&P Emerging Markets Small Cap ETF | 0.71% | 15.46% | 6.81% | 18.13% | -15.00% | 18.15% | 14.84% | 15.59% | -18.75% | 34.12% |
Returns By Period
In the year-to-date period, EWT achieves a 11.63% return, which is significantly higher than EWX's 0.71% return. Over the past 10 years, EWT has outperformed EWX with an annualized return of 14.99%, while EWX has yielded a comparatively lower 8.29% annualized return.
EWT
- 1D
- 2.84%
- 1M
- -6.28%
- YTD
- 11.63%
- 6M
- 16.60%
- 1Y
- 56.23%
- 3Y*
- 22.26%
- 5Y*
- 10.25%
- 10Y*
- 14.99%
EWX
- 1D
- 2.19%
- 1M
- -5.61%
- YTD
- 0.71%
- 6M
- 0.20%
- 1Y
- 20.34%
- 3Y*
- 12.34%
- 5Y*
- 6.42%
- 10Y*
- 8.29%
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EWT vs. EWX - Expense Ratio Comparison
EWT has a 0.59% expense ratio, which is lower than EWX's 0.65% expense ratio.
Return for Risk
EWT vs. EWX — Risk / Return Rank
EWT
EWX
EWT vs. EWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan ETF (EWT) and SPDR S&P Emerging Markets Small Cap ETF (EWX). 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.
| EWT | EWX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.11 | 1.24 | +0.86 |
Sortino ratioReturn per unit of downside risk | 2.80 | 1.70 | +1.10 |
Omega ratioGain probability vs. loss probability | 1.38 | 1.25 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 3.55 | 1.51 | +2.04 |
Martin ratioReturn relative to average drawdown | 14.26 | 6.82 | +7.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EWT | EWX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.11 | 1.24 | +0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.43 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.49 | +0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.18 | +0.02 |
Correlation
The correlation between EWT and EWX is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
EWT vs. EWX - Dividend Comparison
EWT's dividend yield for the trailing twelve months is around 3.97%, more than EWX's 2.89% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWT iShares MSCI Taiwan ETF | 3.97% | 4.43% | 3.32% | 8.12% | 18.82% | 0.55% | 1.83% | 2.49% | 3.16% | 2.81% | 2.39% | 3.12% |
EWX SPDR S&P Emerging Markets Small Cap ETF | 2.89% | 2.91% | 2.90% | 2.32% | 3.00% | 2.77% | 2.24% | 2.73% | 3.26% | 2.30% | 2.46% | 3.04% |
Drawdowns
EWT vs. EWX - Drawdown Comparison
The maximum EWT drawdown since its inception was -64.37%, roughly equal to the maximum EWX drawdown of -63.90%. Use the drawdown chart below to compare losses from any high point for EWT and EWX.
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Drawdown Indicators
| EWT | EWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.37% | -63.90% | -0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -15.53% | -12.90% | -2.63% |
Max Drawdown (5Y)Largest decline over 5 years | -38.88% | -24.67% | -14.21% |
Max Drawdown (10Y)Largest decline over 10 years | -38.88% | -43.00% | +4.12% |
Current DrawdownCurrent decline from peak | -7.97% | -5.96% | -2.01% |
Average DrawdownAverage peak-to-trough decline | -19.35% | -13.28% | -6.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.87% | 2.85% | +1.02% |
Volatility
EWT vs. EWX - Volatility Comparison
iShares MSCI Taiwan ETF (EWT) has a higher volatility of 11.00% compared to SPDR S&P Emerging Markets Small Cap ETF (EWX) at 7.57%. This indicates that EWT's price experiences larger fluctuations and is considered to be riskier than EWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWT | EWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.00% | 7.57% | +3.43% |
Volatility (6M)Calculated over the trailing 6-month period | 18.14% | 10.52% | +7.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.85% | 16.46% | +10.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.32% | 15.12% | +7.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.22% | 17.08% | +4.14% |