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EWT vs. TDGB.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWT vs. TDGB.L

Last updated Jun 13, 2026

EWT (iShares MSCI Taiwan ETF) and TDGB.L (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) are both exchange-traded funds - EWT is a Asia Pacific Equities fund tracking the MSCI Taiwan Index, while TDGB.L is a Global Equities fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. Both are passively managed. Over the past 10 years, EWT returned 19.56%/yr vs 10.04%/yr for TDGB.L. At a 0.43 correlation, their price movements are largely independent. EWT charges 0.59%/yr vs 0.38%/yr for TDGB.L.

Performance

EWT vs. TDGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Taiwan ETF (EWT) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

EWT is traded in USD, while TDGB.L is traded in GBP. To make them comparable, the TDGB.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, EWT achieves a 61.53% return, which is significantly higher than TDGB.L's 9.84% return. Over the past 10 years, EWT has outperformed TDGB.L with an annualized return of 19.56%, while TDGB.L has yielded a comparatively lower 10.04% annualized return.

EWT

1D
0.17%
1M
8.18%
YTD
61.53%
6M
67.45%
1Y
89.17%
3Y*
34.98%
5Y*
17.48%
10Y*
19.56%

TDGB.L

1D
0.13%
1M
1.04%
YTD
9.84%
6M
11.95%
1Y
27.32%
3Y*
22.83%
5Y*
16.75%
10Y*
10.04%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWT vs. TDGB.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWT
iShares MSCI Taiwan ETF		61.53%28.38%16.11%23.97%-28.90%26.18%31.50%33.36%-9.90%26.81%
TDGB.L
VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF		9.84%40.77%8.81%14.79%9.40%18.51%-2.72%8.05%-13.18%12.67%

Correlation

The correlation between EWT and TDGB.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.28

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

0.36

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

0.42

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

0.43

Correlation (All Time)
Calculated using the full available price history since May 23, 2016

0.43

The correlation between EWT and TDGB.L shifts across timeframes, from 0.28 (1 year) to 0.43 (10 years), reflecting how their relationship changes across market environments.

EWT vs. TDGB.L - Sectors Allocation Comparison

Sectors
EWT
TDGB.L

Technology

72.9%
0.3%

Financial Services

13.0%
31.7%

Industrials

4.9%
3.9%

Basic Materials

3.5%
1.2%

Consumer Cyclical

1.9%
3.8%

Communication Services

1.9%
8.7%

Consumer Defensive

1.1%
10.1%

Healthcare

0.8%
14.4%

Energy

-

19.7%

Real Estate

-

0.0%

Utilities

-

6.2%

Technology

EWT
72.9%
TDGB.L
0.3%

Financial Services

EWT
13.0%
TDGB.L
31.7%

Industrials

EWT
4.9%
TDGB.L
3.9%

Basic Materials

EWT
3.5%
TDGB.L
1.2%

Consumer Cyclical

EWT
1.9%
TDGB.L
3.8%

Communication Services

EWT
1.9%
TDGB.L
8.7%

Consumer Defensive

EWT
1.1%
TDGB.L
10.1%

Healthcare

EWT
0.8%
TDGB.L
14.4%

Energy

EWT

-

TDGB.L
19.7%

Real Estate

EWT

-

TDGB.L
0.0%

Utilities

EWT

-

TDGB.L
6.2%

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

VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF

Often compared with EWT:
EWT vs. EWYEWT vs. FLTWEWT vs. VTEWT vs. QQQEWT vs. EWHEWT vs. EWSEWT vs. EWX
Often compared with TDGB.L:
TDGB.L vs. VHYL.ASTDGB.L vs. SCHDTDGB.L vs. SPYDTDGB.L vs. LDEG.LTDGB.L vs. VHYD.LTDGB.L vs. JEGP.LTDGB.L vs. CSKR.L

Return for Risk

EWT vs. TDGB.L — 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: 9292
Sortino Ratio Rank
EWT Omega Ratio Rank: 9292
Omega Ratio Rank
EWT Calmar Ratio Rank: 9696
Calmar Ratio Rank
EWT Martin Ratio Rank: 9595
Martin Ratio Rank
TDGB.L
TDGB.L Risk / Return Rank: 9494
Overall Rank
TDGB.L Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
TDGB.L Sortino Ratio Rank: 9494
Sortino Ratio Rank
TDGB.L Omega Ratio Rank: 9393
Omega Ratio Rank
TDGB.L Calmar Ratio Rank: 9494
Calmar Ratio Rank
TDGB.L Martin Ratio Rank: 9393
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. TDGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan ETF (EWT) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.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.

EWTTDGB.LDifference
Sharpe ratioReturn per unit of total volatility
3.36
2.45

+0.91

Sortino ratioReturn per unit of downside risk
3.88
3.33

+0.55

Omega ratioGain probability vs. loss probability

1.55

1.44

+0.11

Calmar ratioReturn relative to maximum drawdown

8.53

5.37

+3.16

Martin ratioReturn relative to average drawdown

25.15

15.18

+9.97

EWT vs. TDGB.L - Sharpe Ratio Comparison

The current EWT Sharpe Ratio is 3.36, which is higher than the TDGB.L Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of EWT and TDGB.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

EWT vs. TDGB.L - Drawdown Comparison

The maximum EWT drawdown since its inception was -64.37%, which is greater than TDGB.L's maximum drawdown of -45.20%. Use the drawdown chart below to compare losses from any high point for EWT and TDGB.L.

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Drawdown Indicators

EWTTDGB.LDifference

Max Drawdown

Largest peak-to-trough decline

-64.37%

-45.20%

-19.17%

Max Drawdown (1Y)

Largest decline over 1 year

-10.51%

-5.06%

-5.45%

Max Drawdown (3Y)

Largest decline over 3 years

-25.66%

-13.68%

-11.98%

Max Drawdown (5Y)

Largest decline over 5 years

-38.88%

-18.93%

-19.95%

Max Drawdown (10Y)

Largest decline over 10 years

-38.88%

-45.20%

+6.32%

Current Drawdown

Current decline from peak

-4.19%

-0.80%

-3.39%

Average Drawdown

Average peak-to-trough decline

-19.21%

-8.17%

-11.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.56%

1.80%

+1.76%

Volatility

EWT vs. TDGB.L - Volatility Comparison

iShares MSCI Taiwan ETF (EWT) has a higher volatility of 13.55% compared to VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L) at 2.32%. This indicates that EWT's price experiences larger fluctuations and is considered to be riskier than TDGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWTTDGB.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.55%

2.32%

+11.23%

Volatility (6M)

Calculated over the trailing 6-month period

22.68%

8.18%

+14.50%

Volatility (1Y)

Calculated over the trailing 1-year period

26.75%

11.11%

+15.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.95%

14.23%

+8.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.78%

16.74%

+5.04%

EWT vs. TDGB.L - Expense Ratio Comparison

EWT has a 0.59% expense ratio, which is higher than TDGB.L's 0.38% expense ratio.

Dividends

EWT vs. TDGB.L - Dividend Comparison

EWT's dividend yield for the trailing twelve months is around 2.74%, less than TDGB.L's 3.16% yield.

PositionTTM20252024202320222021202020192018201720162015
EWT
iShares MSCI Taiwan ETF		2.74%4.43%3.32%8.12%18.82%0.55%1.83%2.49%3.16%2.81%2.39%3.12%
TDGB.L
VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF		3.16%3.50%4.26%4.93%4.40%4.06%4.16%4.52%4.38%3.48%0.00%0.00%

Frequently Asked Questions

EWT and TDGB.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, TDGB.L is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

TDGB.L is cheaper with a 0.38% expense ratio, compared with 0.59% for EWT.

EWT is categorized as Asia Pacific Equities, while TDGB.L is Global Equities. EWT tracks MSCI Taiwan Index, while TDGB.L tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.59% for EWT and 0.38% for TDGB.L.

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