GIND vs. EWT

Last updated Jun 4, 2026

GIND (Goldman Sachs India Equity ETF) and EWT (iShares MSCI Taiwan ETF) are both Asia Pacific Equities funds. GIND is actively managed, while EWT is passively managed. Over the past year, GIND returned -13.74% vs 110.37% for EWT. At a 0.46 correlation, their price movements are largely independent. GIND charges 0.75%/yr vs 0.59%/yr for EWT.

Performance

GIND vs. EWT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs India Equity ETF (GIND) and iShares MSCI Taiwan ETF (EWT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GIND achieves a -12.46% return, which is significantly lower than EWT's 68.27% return.

GIND

• 1D: -1.57%
• 1M: -2.39%
• YTD: -12.46%
• 6M: -11.52%
• 1Y: -13.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EWT

• 1D: -0.20%
• 1M: 18.24%
• YTD: 68.27%
• 6M: 72.42%
• 1Y: 110.37%
• 3Y*: 38.34%
• 5Y*: 18.33%
• 10Y*: 19.90%

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

GIND vs. EWT - Yearly Performance Comparison

	2026 (YTD)	2025
GIND Goldman Sachs India Equity ETF	-12.46%	4.55%
EWT iShares MSCI Taiwan ETF	68.27%	44.30%

Correlation

The correlation between GIND and EWT is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	0.46

GIND vs. EWT - Sectors Allocation Comparison

Sectors	GIND	EWT
Financial Services	28.9%	13.0%
Consumer Cyclical	15.9%	1.9%
Industrials	10.7%	4.9%
Basic Materials	9.2%	3.5%
Technology	9.0%	72.9%
Healthcare	8.8%	0.8%
Consumer Defensive	5.7%	1.1%
Energy	4.1%	-
Utilities	2.9%	-
Communication Services	2.8%	1.9%
Real Estate	2.2%	-

Return for Risk

GIND vs. EWT — Risk / Return Rank

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

GIND

GIND Risk / Return Rank: 3
GIND Sharpe Ratio Rank: 2
GIND Sortino Ratio Rank: 3
GIND Omega Ratio Rank: 3
GIND Calmar Ratio Rank: 4
GIND Martin Ratio Rank: 1

EWT

EWT Risk / Return Rank: 95
EWT Sharpe Ratio Rank: 96
EWT Sortino Ratio Rank: 94
EWT Omega Ratio Rank: 94
EWT Calmar Ratio Rank: 97
EWT Martin Ratio Rank: 95

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.

GIND vs. EWT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs India Equity ETF (GIND) and iShares MSCI Taiwan ETF (EWT). 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.

	GIND	EWT	Difference
Sharpe ratio: Return per unit of total volatility	-0.85	4.42	-5.27
Sortino ratio: Return per unit of downside risk	-1.18	5.00	-6.18
Omega ratio: Gain probability vs. loss probability	0.87	1.69	-0.83
Calmar ratio: Return relative to maximum drawdown	-0.60	10.56	-11.16
Martin ratio: Return relative to average drawdown	-1.45	32.40	-33.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GIND vs. EWT - Sharpe Ratio Comparison

The current GIND Sharpe Ratio is -0.85, which is lower than the EWT Sharpe Ratio of 4.42. The chart below compares the historical Sharpe Ratios of GIND and EWT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GIND	EWT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.85	4.42	-5.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.82	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.43	0.26	-0.69

Drawdowns

GIND vs. EWT - Drawdown Comparison

The maximum GIND drawdown since its inception was -22.97%, smaller than the maximum EWT drawdown of -64.37%. Use the drawdown chart below to compare losses from any high point for GIND and EWT.

Drawdown Indicators

	GIND	EWT	Difference
Max Drawdown Largest peak-to-trough decline	-22.97%	-64.37%	+41.40%
Max Drawdown (1Y) Largest decline over 1 year	-22.97%	-10.51%	-12.46%
Max Drawdown (3Y) Largest decline over 3 years	—	-25.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.88%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.88%	—
Current Drawdown Current decline from peak	-17.00%	-0.20%	-16.80%
Average Drawdown Average peak-to-trough decline	-6.85%	-19.23%	+12.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.52%	3.42%	+6.10%

Volatility

GIND vs. EWT - Volatility Comparison

The current volatility for Goldman Sachs India Equity ETF (GIND) is 5.81%, while iShares MSCI Taiwan ETF (EWT) has a volatility of 10.43%. This indicates that GIND experiences smaller price fluctuations and is considered to be less risky than EWT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIND	EWT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.81%	10.43%	-4.62%
Volatility (6M) Calculated over the trailing 6-month period	14.04%	20.52%	-6.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.24%	25.10%	-8.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	22.59%	-5.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.14%	21.60%	-4.46%

GIND vs. EWT - Expense Ratio Comparison

GIND has a 0.75% expense ratio, which is higher than EWT's 0.59% expense ratio.

Dividends

GIND vs. EWT - Dividend Comparison

GIND has not paid dividends to shareholders, while EWT's dividend yield for the trailing twelve months is around 2.63%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWT iShares MSCI Taiwan ETF	2.63%	4.43%	3.32%	8.12%	18.82%	0.55%	1.83%	2.49%	3.16%	2.81%	2.39%	3.12%
GIND Goldman Sachs India Equity ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GIND and EWT in my portfolio?

GIND and EWT have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GIND or EWT?

EWT has higher volatility (10.43%) compared to GIND (5.81%). In terms of maximum drawdown, GIND dropped -22.97% vs EWT's -64.37%.

Which ETF is better, GIND or EWT?

On 1-year performance, EWT leads with 110.37% vs -13.74% for GIND. On fees, EWT is cheaper at 0.59% per year. On volatility, GIND has been the lower-risk option at 5.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GIND or EWT?

Over the 1-year period, EWT has performed better with a 110.37% return vs -13.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GIND or EWT?

EWT is cheaper with a 0.59% expense ratio, compared with 0.75% for GIND.

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

EWT has the higher dividend yield at 2.63%, compared with 0.00% for GIND.

What is the main difference between GIND and EWT?

They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.75% for GIND and 0.59% for EWT.

Which has better risk-adjusted returns?

EWT currently has the higher Sharpe Ratio (4.42 vs -0.85), 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.