PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ITWN.L vs. FLN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ITWN.L vs. FLN

Last updated Jun 5, 2026

ITWN.L (iShares MSCI Taiwan UCITS ETF) and FLN (First Trust Latin America AlphaDEX Fund) are both exchange-traded funds - ITWN.L is a Asia Pacific Equities fund tracking the MSCI Taiwan NR USD, while FLN is a Latin America Equities fund tracking the NASDAQ AlphaDEX Latin America Index. Both are passively managed. Over the past 10 years, ITWN.L returned 23.12%/yr vs 10.62%/yr for FLN. At a 0.34 correlation, their price movements are largely independent. ITWN.L charges 0.74%/yr vs 0.80%/yr for FLN.

Performance

ITWN.L vs. FLN - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Taiwan UCITS ETF (ITWN.L) and First Trust Latin America AlphaDEX Fund (FLN). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

ITWN.L is traded in GBp, while FLN is traded in USD. To make them comparable, the FLN values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, ITWN.L achieves a 67.93% return, which is significantly higher than FLN's 11.59% return. Over the past 10 years, ITWN.L has outperformed FLN with an annualized return of 23.12%, while FLN has yielded a comparatively lower 10.62% annualized return.

ITWN.L

1D
-1.63%
1M
14.84%
YTD
67.93%
6M
73.48%
1Y
117.37%
3Y*
40.47%
5Y*
22.94%
10Y*
23.12%

FLN

1D
-0.47%
1M
-6.62%
YTD
11.59%
6M
8.94%
1Y
37.19%
3Y*
12.64%
5Y*
10.05%
10Y*
10.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ITWN.L vs. FLN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ITWN.L
iShares MSCI Taiwan UCITS ETF		67.93%22.61%25.77%21.84%-21.08%29.84%29.40%30.88%-3.90%16.56%
FLN
First Trust Latin America AlphaDEX Fund		11.59%44.00%-21.75%23.19%14.95%-6.06%-14.85%22.38%-2.87%11.03%

Correlation

The correlation between ITWN.L and FLN is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.38

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

0.28

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

0.28

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

0.32

Correlation (All Time)
Calculated using the full available price history since Apr 21, 2011

0.34

ITWN.L vs. FLN - Sectors Allocation Comparison

Sectors
ITWN.L
FLN

Technology

80.7%
2.1%

Financial Services

10.9%
23.4%

Industrials

2.4%
12.4%

Basic Materials

2.0%
12.0%

Communication Services

1.4%
7.1%

Consumer Cyclical

1.2%
5.4%

Consumer Defensive

0.8%
7.2%

Healthcare

0.6%
0.6%

Energy

-

10.2%

Real Estate

-

4.7%

Utilities

-

16.9%

Technology

ITWN.L
80.7%
FLN
2.1%

Financial Services

ITWN.L
10.9%
FLN
23.4%

Industrials

ITWN.L
2.4%
FLN
12.4%

Basic Materials

ITWN.L
2.0%
FLN
12.0%

Communication Services

ITWN.L
1.4%
FLN
7.1%

Consumer Cyclical

ITWN.L
1.2%
FLN
5.4%

Consumer Defensive

ITWN.L
0.8%
FLN
7.2%

Healthcare

ITWN.L
0.6%
FLN
0.6%

Energy

ITWN.L

-

FLN
10.2%

Real Estate

ITWN.L

-

FLN
4.7%

Utilities

ITWN.L

-

FLN
16.9%

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 UCITS ETF

First Trust Latin America AlphaDEX Fund

Often compared with ITWN.L:
ITWN.L vs. QQQITWN.L vs. SPINXITWN.L vs. TSMITWN.L vs. VTIITWN.L vs. VWCE.DEITWN.L vs. FLXT.DEITWN.L vs. FLIN
Often compared with FLN:
FLN vs. ILFFLN vs. BRFFLN vs. FLLAFLN vs. BRAZFLN vs. EWZFLN vs. CHILXFLN vs. flla

Return for Risk

ITWN.L vs. FLN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ITWN.L
ITWN.L Risk / Return Rank: 9797
Overall Rank
ITWN.L Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
ITWN.L Sortino Ratio Rank: 9797
Sortino Ratio Rank
ITWN.L Omega Ratio Rank: 9696
Omega Ratio Rank
ITWN.L Calmar Ratio Rank: 9797
Calmar Ratio Rank
ITWN.L Martin Ratio Rank: 9696
Martin Ratio Rank
FLN
FLN Risk / Return Rank: 5353
Overall Rank
FLN Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
FLN Sortino Ratio Rank: 4747
Sortino Ratio Rank
FLN Omega Ratio Rank: 4949
Omega Ratio Rank
FLN Calmar Ratio Rank: 6565
Calmar Ratio Rank
FLN Martin Ratio Rank: 5353
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.

ITWN.L vs. FLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan UCITS ETF (ITWN.L) and First Trust Latin America AlphaDEX Fund (FLN). 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.

ITWN.LFLNDifference
Sharpe ratioReturn per unit of total volatility
5.10
1.96

+3.14

Sortino ratioReturn per unit of downside risk
5.92
2.53

+3.39

Omega ratioGain probability vs. loss probability

1.81

1.34

+0.47

Calmar ratioReturn relative to maximum drawdown

12.46

3.69

+8.77

Martin ratioReturn relative to average drawdown

34.79

10.67

+24.12

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITWN.L vs. FLN - Sharpe Ratio Comparison

The current ITWN.L Sharpe Ratio is 5.10, which is higher than the FLN Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of ITWN.L and FLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

ITWN.LFLNDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

5.10

1.96

+3.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.10

0.48

+0.62

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.17

0.40

+0.78

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.13

+0.51

Drawdowns

ITWN.L vs. FLN - Drawdown Comparison

The maximum ITWN.L drawdown since its inception was -48.27%, smaller than the maximum FLN drawdown of -54.73%. Use the drawdown chart below to compare losses from any high point for ITWN.L and FLN.

Loading charts...

Drawdown Indicators

ITWN.LFLNDifference

Max Drawdown

Largest peak-to-trough decline

-48.27%

-54.73%

+6.46%

Max Drawdown (1Y)

Largest decline over 1 year

-9.36%

-10.11%

+0.75%

Max Drawdown (3Y)

Largest decline over 3 years

-29.32%

-23.88%

-5.44%

Max Drawdown (5Y)

Largest decline over 5 years

-30.07%

-23.88%

-6.19%

Max Drawdown (10Y)

Largest decline over 10 years

-30.07%

-52.19%

+22.12%

Current Drawdown

Current decline from peak

-1.80%

-9.86%

+8.06%

Average Drawdown

Average peak-to-trough decline

-9.18%

-16.26%

+7.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.36%

3.49%

-0.13%

Volatility

ITWN.L vs. FLN - Volatility Comparison

iShares MSCI Taiwan UCITS ETF (ITWN.L) has a higher volatility of 9.68% compared to First Trust Latin America AlphaDEX Fund (FLN) at 5.22%. This indicates that ITWN.L's price experiences larger fluctuations and is considered to be riskier than FLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ITWN.LFLNDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.68%

5.22%

+4.46%

Volatility (6M)

Calculated over the trailing 6-month period

18.60%

16.41%

+2.19%

Volatility (1Y)

Calculated over the trailing 1-year period

22.88%

19.03%

+3.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.77%

20.96%

-0.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.55%

26.87%

-6.32%

ITWN.L vs. FLN - Expense Ratio Comparison

ITWN.L has a 0.74% expense ratio, which is lower than FLN's 0.80% expense ratio.

Dividends

ITWN.L vs. FLN - Dividend Comparison

ITWN.L's dividend yield for the trailing twelve months is around 0.89%, less than FLN's 3.61% yield.

PositionTTM20252024202320222021202020192018201720162015
FLN
First Trust Latin America AlphaDEX Fund		3.61%3.40%6.26%4.17%5.57%4.70%1.64%1.91%3.08%10.28%1.06%2.34%
ITWN.L
iShares MSCI Taiwan UCITS ETF		0.89%1.50%1.37%2.14%3.54%1.33%1.83%2.28%2.72%2.74%2.86%3.23%

Frequently Asked Questions

ITWN.L and FLN have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ITWN.L is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ITWN.L is cheaper with a 0.74% expense ratio, compared with 0.80% for FLN.

ITWN.L is categorized as Asia Pacific Equities, while FLN is Latin America Equities. ITWN.L tracks MSCI Taiwan NR USD, while FLN tracks NASDAQ AlphaDEX Latin America Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.74% for ITWN.L and 0.80% for FLN.

Portfolio Optimizer

Find the right allocation for ITWN.L and FLN

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer