FPBFX vs. TWN
FPBFX (Fidelity Pacific Basin Fund) and TWN (The Taiwan Fund Inc.) are both Asia Pacific Equities funds. Over the past 10 years, FPBFX returned 13.58%/yr vs 30.11%/yr for TWN. At a 0.45 correlation, their price movements are largely independent.
Performance
FPBFX vs. TWN - Performance Comparison
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Returns By Period
In the year-to-date period, FPBFX achieves a 33.43% return, which is significantly lower than TWN's 89.25% return. Over the past 10 years, FPBFX has underperformed TWN with an annualized return of 13.58%, while TWN has yielded a comparatively higher 30.11% annualized return.
FPBFX
- 1D
- 2.19%
- 1M
- 7.75%
- YTD
- 33.43%
- 6M
- 34.61%
- 1Y
- 61.36%
- 3Y*
- 25.97%
- 5Y*
- 11.45%
- 10Y*
- 13.58%
TWN
- 1D
- 0.19%
- 1M
- 7.55%
- YTD
- 89.25%
- 6M
- 91.94%
- 1Y
- 163.62%
- 3Y*
- 62.85%
- 5Y*
- 33.66%
- 10Y*
- 30.11%
FPBFX vs. TWN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPBFX Fidelity Pacific Basin Fund | 33.43% | 37.15% | 9.26% | 14.07% | -23.71% | 2.28% | 32.92% | 32.21% | -18.08% | 40.06% |
TWN The Taiwan Fund Inc. | 89.25% | 54.11% | 32.76% | 51.73% | -38.54% | 58.14% | 40.71% | 47.00% | -19.15% | 33.80% |
Correlation
The correlation between FPBFX and TWN is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 1989 | 0.45 |
The correlation between FPBFX and TWN shifts across timeframes, from 0.45 (all time) to 0.62 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
FPBFX vs. TWN — Risk / Return Rank
FPBFX
TWN
FPBFX vs. TWN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Pacific Basin Fund (FPBFX) and The Taiwan Fund Inc. (TWN). 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.
| FPBFX | TWN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.14 | ||
| Sortino ratioReturn per unit of downside risk | -2.62 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.85 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 4.87 | 17.73 | -12.86 |
| Martin ratioReturn relative to average drawdown | 17.98 | 54.13 | -36.15 |
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Drawdowns
FPBFX vs. TWN - Drawdown Comparison
The maximum FPBFX drawdown since its inception was -69.06%, smaller than the maximum TWN drawdown of -79.52%. Use the drawdown chart below to compare losses from any high point for FPBFX and TWN.
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Drawdown Indicators
| FPBFX | TWN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.06% | -79.52% | +10.46% |
Max Drawdown (1Y)Largest decline over 1 year | -12.25% | -9.29% | -2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -19.48% | -29.97% | +10.49% |
Max Drawdown (5Y)Largest decline over 5 years | -37.97% | -51.72% | +13.75% |
Max Drawdown (10Y)Largest decline over 10 years | -39.85% | -51.72% | +11.87% |
Current DrawdownCurrent decline from peak | 0.00% | -0.50% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -17.56% | -37.36% | +19.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 3.04% | +0.27% |
Volatility
FPBFX vs. TWN - Volatility Comparison
The current volatility for Fidelity Pacific Basin Fund (FPBFX) is 9.74%, while The Taiwan Fund Inc. (TWN) has a volatility of 12.62%. This indicates that FPBFX experiences smaller price fluctuations and is considered to be less risky than TWN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPBFX | TWN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.74% | 12.62% | -2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 18.08% | 24.28% | -6.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.56% | 27.92% | -6.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.48% | 24.23% | -4.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.88% | 22.70% | -4.82% |
Dividends
FPBFX vs. TWN - Dividend Comparison
FPBFX's dividend yield for the trailing twelve months is around 6.14%, which matches TWN's 6.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPBFX Fidelity Pacific Basin Fund | 6.14% | 8.19% | 5.99% | 5.36% | 8.76% | 14.97% | 4.45% | 0.75% | 10.88% | 4.36% | 2.38% | 3.61% |
TWN The Taiwan Fund Inc. | 6.14% | 11.62% | 19.14% | 1.26% | 0.00% | 7.78% | 12.91% | 8.26% | 11.27% | 3.16% | 0.00% | 0.00% |
Frequently Asked Questions
FPBFX and TWN have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TWN has higher volatility (12.62%) compared to FPBFX (9.74%). In terms of maximum drawdown, FPBFX dropped -69.06% vs TWN's -79.52%.
TWN currently has the higher Sharpe Ratio (5.91 vs 2.77), 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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