EWT vs. VLUE

Last updated Jun 13, 2026

EWT (iShares MSCI Taiwan ETF) and VLUE (iShares MSCI USA Value Factor ETF) are both exchange-traded funds - EWT is a Asia Pacific Equities fund tracking the MSCI Taiwan Index, while VLUE is a Large Cap Value Equities fund tracking the MSCI USA Enhanced Value Index. Both are passively managed. Over the past 10 years, EWT returned 19.56%/yr vs 15.38%/yr for VLUE. A 0.59 correlation means they provide meaningful diversification when combined. EWT charges 0.59%/yr vs 0.15%/yr for VLUE.

Performance

EWT vs. VLUE - Performance Comparison

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

Returns By Period

In the year-to-date period, EWT achieves a 61.53% return, which is significantly higher than VLUE's 45.72% return. Over the past 10 years, EWT has outperformed VLUE with an annualized return of 19.56%, while VLUE has yielded a comparatively lower 15.38% 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%

VLUE

• 1D: 0.40%
• 1M: 7.90%
• YTD: 45.72%
• 6M: 46.53%
• 1Y: 83.16%
• 3Y*: 31.47%
• 5Y*: 16.01%
• 10Y*: 15.38%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EWT vs. VLUE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VLUE iShares MSCI USA Value Factor ETF	45.72%	32.67%	7.25%	14.26%	-14.17%	28.93%	-0.23%	27.20%	-11.13%	21.95%

Correlation

The correlation between EWT and VLUE is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013	0.59

The correlation between EWT and VLUE has been stable across timeframes, ranging from 0.59 to 0.66 - a consistent structural relationship.

EWT vs. VLUE - Sectors Allocation Comparison

Sectors	EWT	VLUE
Technology	72.9%	44.5%
Financial Services	13.0%	10.4%
Industrials	4.9%	7.4%
Basic Materials	3.5%	1.6%
Consumer Cyclical	1.9%	8.3%
Communication Services	1.9%	8.3%
Consumer Defensive	1.1%	4.0%
Healthcare	0.8%	8.5%
Energy	-	3.2%
Real Estate	-	1.8%
Utilities	-	2.0%

Return for Risk

EWT vs. VLUE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EWT

EWT Risk / Return Rank: 94
EWT Sharpe Ratio Rank: 95
EWT Sortino Ratio Rank: 92
EWT Omega Ratio Rank: 92
EWT Calmar Ratio Rank: 96
EWT Martin Ratio Rank: 95

VLUE

VLUE Risk / Return Rank: 97
VLUE Sharpe Ratio Rank: 98
VLUE Sortino Ratio Rank: 97
VLUE Omega Ratio Rank: 96
VLUE Calmar Ratio Rank: 97
VLUE Martin Ratio Rank: 97

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. VLUE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan ETF (EWT) and iShares MSCI USA Value Factor ETF (VLUE). 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	VLUE	Difference
Sharpe ratio: Return per unit of total volatility	3.36	4.55	-1.19
Sortino ratio: Return per unit of downside risk	3.88	5.75	-1.87
Omega ratio: Gain probability vs. loss probability	1.55	1.77	-0.22
Calmar ratio: Return relative to maximum drawdown	8.53	9.25	-0.72
Martin ratio: Return relative to average drawdown	25.15	39.16	-14.02

EWT vs. VLUE - Sharpe Ratio Comparison

The current EWT Sharpe Ratio is 3.36, which is comparable to the VLUE Sharpe Ratio of 4.55. The chart below compares the historical Sharpe Ratios of EWT and VLUE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EWT vs. VLUE - Drawdown Comparison

The maximum EWT drawdown since its inception was -64.37%, which is greater than VLUE's maximum drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for EWT and VLUE.

Drawdown Indicators

	EWT	VLUE	Difference
Max Drawdown Largest peak-to-trough decline	-64.37%	-39.47%	-24.90%
Max Drawdown (1Y) Largest decline over 1 year	-10.51%	-9.04%	-1.47%
Max Drawdown (3Y) Largest decline over 3 years	-25.66%	-17.89%	-7.77%
Max Drawdown (5Y) Largest decline over 5 years	-38.88%	-27.12%	-11.76%
Max Drawdown (10Y) Largest decline over 10 years	-38.88%	-39.47%	+0.59%
Current Drawdown Current decline from peak	-4.19%	-2.61%	-1.58%
Average Drawdown Average peak-to-trough decline	-19.21%	-6.01%	-13.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	2.13%	+1.43%

Volatility

EWT vs. VLUE - Volatility Comparison

iShares MSCI Taiwan ETF (EWT) has a higher volatility of 13.55% compared to iShares MSCI USA Value Factor ETF (VLUE) at 8.83%. This indicates that EWT's price experiences larger fluctuations and is considered to be riskier than VLUE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWT	VLUE	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.55%	8.83%	+4.72%
Volatility (6M) Calculated over the trailing 6-month period	22.68%	15.31%	+7.37%
Volatility (1Y) Calculated over the trailing 1-year period	26.75%	18.38%	+8.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.95%	18.00%	+4.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.78%	19.91%	+1.87%

EWT vs. VLUE - Expense Ratio Comparison

EWT has a 0.59% expense ratio, which is higher than VLUE's 0.15% expense ratio.

Dividends

EWT vs. VLUE - Dividend Comparison

EWT's dividend yield for the trailing twelve months is around 2.74%, more than VLUE's 1.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VLUE iShares MSCI USA Value Factor ETF	1.43%	2.11%	2.73%	2.66%	3.18%	2.22%	2.42%	2.61%	2.70%	2.14%	2.07%	2.39%

Frequently Asked Questions

Can I hold both EWT and VLUE in my portfolio?

EWT and VLUE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWT or VLUE?

EWT has higher volatility (13.55%) compared to VLUE (8.83%). In terms of maximum drawdown, EWT dropped -64.37% vs VLUE's -39.47%.

Which ETF is better, EWT or VLUE?

On 10-year performance, EWT leads with 19.56% vs 15.38% for VLUE. On fees, VLUE is cheaper at 0.15% per year. On volatility, VLUE has been the lower-risk option at 8.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWT or VLUE?

Over the 10-year period, EWT has performed better with a 19.56% return vs 15.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWT or VLUE?

VLUE is cheaper with a 0.15% expense ratio, compared with 0.59% for EWT.

Which ETF pays a higher dividend yield, EWT or VLUE?

EWT has the higher dividend yield at 2.74%, compared with 1.43% for VLUE.

What is the main difference between EWT and VLUE?

EWT is categorized as Asia Pacific Equities, while VLUE is Large Cap Value Equities. EWT tracks MSCI Taiwan Index, while VLUE tracks MSCI USA Enhanced Value Index. Their fees differ too: 0.59% for EWT and 0.15% for VLUE.

Which has better risk-adjusted returns?

VLUE currently has the higher Sharpe Ratio (4.55 vs 3.36), 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.