EWT vs. SLV
EWT (iShares MSCI Taiwan ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - EWT is a Taiwan Equities fund tracking the MSCI Taiwan 25/50 Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, EWT returned 17.92%/yr vs 10.86%/yr for SLV. Their 0.25 correlation means their historical movements had little consistent relationship. EWT charges 0.59%/yr vs 0.50%/yr for SLV.
Performance
EWT vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, EWT achieves a 54.23% return, which is significantly higher than SLV's -18.57% return. Over the past 10 years, EWT has outperformed SLV with an annualized return of 17.92%, while SLV has yielded a comparatively lower 10.86% annualized return.
EWT
- 1D
- 1.48%
- 1M
- -6.56%
- 6M
- 42.12%
- YTD
- 54.23%
- 1Y
- 75.51%
- 3Y*
- 36.58%
- 5Y*
- 16.78%
- 10Y*
- 17.92%
- ALL TIME*
- 7.06%
SLV
- 1D
- 0.19%
- 1M
- -4.65%
- 6M
- -27.58%
- YTD
- -18.57%
- 1Y
- 56.18%
- 3Y*
- 34.29%
- 5Y*
- 17.38%
- 10Y*
- 10.86%
- ALL TIME*
- 7.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $570.84M | $674.34M | $671.50M | |
| $713.72M | $758.23M | $1.25B |
EWT vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWT iShares MSCI Taiwan ETF | 54.23% | 28.38% | 16.11% | 29.00% | -28.90% | 26.18% | 31.50% | 33.36% | -9.90% | 26.81% |
SLV iShares Silver Trust | -18.57% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between EWT and SLV is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.33 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.32 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.27 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006 | 0.25 |
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Return for Risk
EWT vs. SLV — Risk / Return Rank
EWT
SLV
EWT vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan ETF (EWT) and iShares Silver Trust (SLV). 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.
| EWT | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.54 | ||
| Sortino ratioReturn per unit of downside risk | +1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.21 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | 1.08 | +2.75 |
| Martin ratioReturn relative to average drawdown | 15.47 | 2.05 | +13.42 |
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Drawdowns
EWT vs. SLV - Drawdown Comparison
The maximum EWT drawdown since its inception was -64.37%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for EWT and SLV.
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Drawdown Indicators
| EWT | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.37% | -76.28% | +11.91% |
Max Drawdown (1Y)Largest decline over 1 year | -19.83% | -52.28% | +32.45% |
Max Drawdown (3Y)Largest decline over 3 years | -25.66% | -52.28% | +26.62% |
Max Drawdown (5Y)Largest decline over 5 years | -38.88% | -52.28% | +13.40% |
Max Drawdown (10Y)Largest decline over 10 years | -38.88% | -52.28% | +13.40% |
Current DrawdownCurrent decline from peak | -12.15% | -50.32% | +38.17% |
Average DrawdownAverage peak-to-trough decline | -19.09% | -44.68% | +25.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.90% | 27.49% | -22.59% |
Volatility
EWT vs. SLV - Volatility Comparison
iShares MSCI Taiwan ETF (EWT) has a higher volatility of 13.53% compared to iShares Silver Trust (SLV) at 10.86%. This indicates that EWT's price experiences larger fluctuations and is considered to be riskier than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWT | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.53% | 10.86% | +2.67% |
Volatility (6M)Calculated over the trailing 6-month period | 27.44% | 44.32% | -16.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.86% | 61.47% | -30.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.96% | 36.98% | -13.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.20% | 32.23% | -10.03% |
EWT vs. SLV - Expense Ratio Comparison
EWT has a 0.59% expense ratio, which is higher than SLV's 0.50% expense ratio.
Dividends
EWT vs. SLV - Dividend Comparison
EWT's dividend yield for the trailing twelve months is around 2.87%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWT iShares MSCI Taiwan ETF | 2.87% | 4.43% | 3.32% | 12.01% | 18.82% | 0.55% | 1.83% | 2.49% | 3.16% | 2.81% | 2.39% | 3.12% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EWT and SLV have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWT has higher volatility (13.53%) compared to SLV (10.86%). In terms of maximum drawdown, EWT dropped -64.37% vs SLV's -76.28%.
On 10-year performance, EWT leads with 17.92% vs 10.86% for SLV. On fees, SLV is cheaper at 0.50% per year. On volatility, SLV has been the lower-risk option at 10.86%. 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 17.92% return vs 10.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLV is cheaper with a 0.50% expense ratio, compared with 0.59% for EWT.
EWT has the higher dividend yield at 2.87%, compared with 0.00% for SLV.
EWT is categorized as Taiwan Equities, while SLV is Silver. EWT tracks MSCI Taiwan 25/50 Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.59% for EWT and 0.50% for SLV.
EWT currently has the higher Sharpe Ratio (2.46 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.
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