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EWT vs. VOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWT vs. VOO

Last updated Jun 14, 2026

EWT (iShares MSCI Taiwan ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - EWT is a Asia Pacific Equities fund tracking the MSCI Taiwan Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, EWT returned 19.56%/yr vs 15.50%/yr for VOO. A 0.66 correlation means they provide meaningful diversification when combined. EWT charges 0.59%/yr vs 0.03%/yr for VOO.

Performance

EWT vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Taiwan ETF (EWT) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EWT achieves a 61.53% return, which is significantly higher than VOO's 9.08% return. Over the past 10 years, EWT has outperformed VOO with an annualized return of 19.56%, while VOO has yielded a comparatively lower 15.50% annualized return.

EWT

1D
0.17%
1M
7.48%
YTD
61.53%
6M
67.45%
1Y
92.18%
3Y*
34.98%
5Y*
17.48%
10Y*
19.56%

VOO

1D
0.55%
1M
-0.84%
YTD
9.08%
6M
9.44%
1Y
25.76%
3Y*
20.95%
5Y*
13.43%
10Y*
15.50%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWT vs. VOO - 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%
VOO
Vanguard S&P 500 ETF		9.08%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%

Correlation

The correlation between EWT and VOO is 0.73, 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

0.73

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

0.67

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

0.67

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

0.66

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2010

0.66

The correlation between EWT and VOO has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.

EWT vs. VOO - Sectors Allocation Comparison

Sectors
EWT
VOO

Technology

76.9%
35.6%

Financial Services

12.0%
11.6%

Industrials

3.1%
8.0%

Basic Materials

2.9%
1.8%

Communication Services

1.7%
11.1%

Consumer Cyclical

1.6%
10.1%

Consumer Defensive

1.0%
4.9%

Healthcare

1.0%
8.5%

Energy

-

3.5%

Real Estate

-

1.9%

Utilities

-

2.8%

Technology

EWT
76.9%
VOO
35.6%

Financial Services

EWT
12.0%
VOO
11.6%

Industrials

EWT
3.1%
VOO
8.0%

Basic Materials

EWT
2.9%
VOO
1.8%

Communication Services

EWT
1.7%
VOO
11.1%

Consumer Cyclical

EWT
1.6%
VOO
10.1%

Consumer Defensive

EWT
1.0%
VOO
4.9%

Healthcare

EWT
1.0%
VOO
8.5%

Energy

EWT

-

VOO
3.5%

Real Estate

EWT

-

VOO
1.9%

Utilities

EWT

-

VOO
2.8%

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

Vanguard S&P 500 ETF

Often compared with EWT:
EWT vs. EWYEWT vs. FLTWEWT vs. VTEWT vs. QQQEWT vs. EWHEWT vs. EWSEWT vs. EWX
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. SPYVOO vs. FXAIXVOO vs. IVV

Return for Risk

EWT vs. VOO — 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
VOO
VOO Risk / Return Rank: 7070
Overall Rank
VOO Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 6969
Sortino Ratio Rank
VOO Omega Ratio Rank: 7171
Omega Ratio Rank
VOO Calmar Ratio Rank: 6363
Calmar Ratio Rank
VOO Martin Ratio Rank: 7676
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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan ETF (EWT) and Vanguard S&P 500 ETF (VOO). 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.

EWTVOODifference
Sharpe ratioReturn per unit of total volatility
3.36
1.99

+1.36

Sortino ratioReturn per unit of downside risk
3.88
2.70

+1.18

Omega ratioGain probability vs. loss probability

1.55

1.36

+0.19

Calmar ratioReturn relative to maximum drawdown

8.53

2.75

+5.78

Martin ratioReturn relative to average drawdown

25.15

12.42

+12.72

EWT vs. VOO - Sharpe Ratio Comparison

The current EWT Sharpe Ratio is 3.36, which is higher than the VOO Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of EWT and VOO, 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. VOO - Drawdown Comparison

The maximum EWT drawdown since its inception was -64.37%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for EWT and VOO.

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Drawdown Indicators

EWTVOODifference

Max Drawdown

Largest peak-to-trough decline

-64.37%

-33.99%

-30.38%

Max Drawdown (1Y)

Largest decline over 1 year

-10.51%

-8.90%

-1.61%

Max Drawdown (3Y)

Largest decline over 3 years

-25.66%

-18.69%

-6.97%

Max Drawdown (5Y)

Largest decline over 5 years

-38.88%

-24.52%

-14.36%

Max Drawdown (10Y)

Largest decline over 10 years

-38.88%

-33.99%

-4.89%

Current Drawdown

Current decline from peak

-4.19%

-2.34%

-1.85%

Average Drawdown

Average peak-to-trough decline

-19.21%

-3.68%

-15.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.56%

1.97%

+1.59%

Volatility

EWT vs. VOO - Volatility Comparison

iShares MSCI Taiwan ETF (EWT) has a higher volatility of 13.55% compared to Vanguard S&P 500 ETF (VOO) at 4.34%. This indicates that EWT's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWTVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

13.55%

4.34%

+9.21%

Volatility (6M)

Calculated over the trailing 6-month period

22.68%

9.58%

+13.10%

Volatility (1Y)

Calculated over the trailing 1-year period

26.75%

12.27%

+14.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.95%

16.88%

+6.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.78%

18.03%

+3.75%

EWT vs. VOO - Expense Ratio Comparison

EWT has a 0.59% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

EWT vs. VOO - Dividend Comparison

EWT's dividend yield for the trailing twelve months is around 2.74%, more than VOO's 1.05% 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%
VOO
Vanguard S&P 500 ETF		1.05%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Frequently Asked Questions

EWT and VOO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWT has higher volatility (13.55%) compared to VOO (4.34%). In terms of maximum drawdown, EWT dropped -64.37% vs VOO's -33.99%.

On 10-year performance, EWT leads with 19.56% vs 15.50% for VOO. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.34%. 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 19.56% return vs 15.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOO is cheaper with a 0.03% expense ratio, compared with 0.59% for EWT.

EWT has the higher dividend yield at 2.74%, compared with 1.05% for VOO.

EWT is categorized as Asia Pacific Equities, while VOO is S&P 500. EWT tracks MSCI Taiwan Index, while VOO tracks S&P 500 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.59% for EWT and 0.03% for VOO.

EWT currently has the higher Sharpe Ratio (3.36 vs 1.99), 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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