FLTW vs. TSM

Last updated Apr 2, 2026

Compare and contrast key facts about Franklin FTSE Taiwan ETF (FLTW) and Taiwan Semiconductor Manufacturing Company Limited (TSM).

FLTW is a passively managed fund by Franklin Templeton that tracks the performance of the FTSE Taiwan RIC Capped Index. It was launched on Nov 2, 2017.

Performance

FLTW vs. TSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Taiwan ETF (FLTW) and Taiwan Semiconductor Manufacturing Company Limited (TSM). The values are adjusted to include any dividend payments, if applicable.

FLTW vs. TSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLTW Franklin FTSE Taiwan ETF	13.05%	32.00%	16.68%	30.05%	-27.51%	29.46%	29.77%	31.23%	-9.32%	-1.25%
TSM Taiwan Semiconductor Manufacturing Company Limited	12.69%	55.91%	92.58%	42.33%	-36.75%	12.09%	92.67%	64.85%	-3.50%	-6.55%

Returns By Period

The year-to-date returns for both stocks are quite close, with FLTW having a 13.05% return and TSM slightly lower at 12.69%.

FLTW

• 1D: 0.98%
• 1M: -5.90%
• YTD: 13.05%
• 6M: 18.97%
• 1Y: 60.86%
• 3Y*: 25.91%
• 5Y*: 13.32%
• 10Y*: —

TSM

• 1D: 1.05%
• 1M: -7.22%
• YTD: 12.69%
• 6M: 19.02%
• 1Y: 104.95%
• 3Y*: 56.55%
• 5Y*: 24.34%
• 10Y*: 32.58%

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

Return for Risk

FLTW vs. TSM — Risk / Return Rank

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

FLTW

FLTW Risk / Return Rank: 93
FLTW Sharpe Ratio Rank: 93
FLTW Sortino Ratio Rank: 93
FLTW Omega Ratio Rank: 90
FLTW Calmar Ratio Rank: 94
FLTW Martin Ratio Rank: 95

TSM

TSM Risk / Return Rank: 94
TSM Sharpe Ratio Rank: 95
TSM Sortino Ratio Rank: 93
TSM Omega Ratio Rank: 91
TSM Calmar Ratio Rank: 95
TSM 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.

FLTW vs. TSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Taiwan ETF (FLTW) and Taiwan Semiconductor Manufacturing Company Limited (TSM). 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.

	FLTW	TSM	Difference
Sharpe ratio Return per unit of total volatility	2.22	2.74	-0.51
Sortino ratio Return per unit of downside risk	2.91	3.30	-0.40
Omega ratio Gain probability vs. loss probability	1.40	1.42	-0.02
Calmar ratio Return relative to maximum drawdown	4.01	5.96	-1.96
Martin ratio Return relative to average drawdown	16.28	20.06	-3.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLTW vs. TSM - Sharpe Ratio Comparison

The current FLTW Sharpe Ratio is 2.22, which is comparable to the TSM Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of FLTW and TSM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FLTW	TSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	2.74	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.66	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.35	+0.36

Correlation

The correlation between FLTW and TSM is 0.73, 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

FLTW vs. TSM - Dividend Comparison

FLTW's dividend yield for the trailing twelve months is around 2.22%, more than TSM's 0.97% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLTW Franklin FTSE Taiwan ETF	2.22%	2.51%	1.89%	2.85%	3.16%	2.31%	2.14%	3.00%	1.06%	0.00%	0.00%	0.00%
TSM Taiwan Semiconductor Manufacturing Company Limited	0.97%	1.00%	1.18%	1.78%	2.49%	1.57%	1.56%	3.46%	3.64%	2.32%	2.61%	2.54%

Drawdowns

FLTW vs. TSM - Drawdown Comparison

The maximum FLTW drawdown since its inception was -38.00%, smaller than the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for FLTW and TSM.

Drawdown Indicators

	FLTW	TSM	Difference
Max Drawdown Largest peak-to-trough decline	-38.00%	-89.08%	+51.08%
Max Drawdown (1Y) Largest decline over 1 year	-15.81%	-18.14%	+2.33%
Max Drawdown (5Y) Largest decline over 5 years	-38.00%	-56.47%	+18.47%
Max Drawdown (10Y) Largest decline over 10 years	—	-56.47%	—
Current Drawdown Current decline from peak	-7.55%	-11.68%	+4.13%
Average Drawdown Average peak-to-trough decline	-8.57%	-43.13%	+34.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	5.39%	-1.50%

Volatility

FLTW vs. TSM - Volatility Comparison

The current volatility for Franklin FTSE Taiwan ETF (FLTW) is 10.06%, while Taiwan Semiconductor Manufacturing Company Limited (TSM) has a volatility of 13.87%. This indicates that FLTW experiences smaller price fluctuations and is considered to be less risky than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLTW	TSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.06%	13.87%	-3.81%
Volatility (6M) Calculated over the trailing 6-month period	18.45%	27.13%	-8.68%
Volatility (1Y) Calculated over the trailing 1-year period	27.53%	38.60%	-11.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.06%	36.91%	-14.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.30%	33.85%	-12.55%