ITWN.L vs. FRXT.L
ITWN.L (iShares MSCI Taiwan UCITS ETF) and FRXT.L (Franklin FTSE Taiwan UCITS ETF) are both Asia Pacific Equities funds tracking the MSCI Taiwan NR USD, from iShares and Franklin Templeton respectively. Both are passively managed. Over the past 3 years, ITWN.L returned 40.47%/yr vs 41.30%/yr for FRXT.L. With a 0.96 correlation, they move nearly in lockstep. ITWN.L charges 0.74%/yr vs 0.19%/yr for FRXT.L.
Performance
ITWN.L vs. FRXT.L - Performance Comparison
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Different Trading Currencies
ITWN.L is traded in GBp, while FRXT.L is traded in GBP. To make them comparable, the FRXT.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with ITWN.L having a 67.93% return and FRXT.L slightly lower at 67.83%.
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%
FRXT.L
- 1D
- -1.47%
- 1M
- 15.57%
- YTD
- 67.83%
- 6M
- 73.29%
- 1Y
- 121.18%
- 3Y*
- 41.30%
- 5Y*
- —
- 10Y*
- —
ITWN.L vs. FRXT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ITWN.L iShares MSCI Taiwan UCITS ETF | 67.93% | 22.61% | 25.77% | 21.84% | -16.98% |
FRXT.L Franklin FTSE Taiwan UCITS ETF | 67.83% | 25.34% | 25.66% | 22.61% | -17.25% |
Correlation
The correlation between ITWN.L and FRXT.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 24, 2022 | 0.96 |
The correlation between ITWN.L and FRXT.L has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
ITWN.L vs. FRXT.L — Risk / Return Rank
ITWN.L
FRXT.L
ITWN.L vs. FRXT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan UCITS ETF (ITWN.L) and Franklin FTSE Taiwan UCITS ETF (FRXT.L). 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.L | FRXT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.81 | 1.87 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 12.46 | 13.25 | -0.79 |
| Martin ratioReturn relative to average drawdown | 34.79 | 38.41 | -3.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ITWN.L | FRXT.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.10 | 5.43 | -0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 1.28 | -0.64 |
Drawdowns
ITWN.L vs. FRXT.L - Drawdown Comparison
The maximum ITWN.L drawdown since its inception was -48.27%, which is greater than FRXT.L's maximum drawdown of -28.86%. Use the drawdown chart below to compare losses from any high point for ITWN.L and FRXT.L.
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Drawdown Indicators
| ITWN.L | FRXT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.27% | -28.86% | -19.41% |
Max Drawdown (1Y)Largest decline over 1 year | -9.36% | -9.09% | -0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -29.32% | -28.86% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -30.07% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.07% | — | — |
Current DrawdownCurrent decline from peak | -1.80% | -1.57% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -9.18% | -6.95% | -2.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 3.14% | +0.22% |
Volatility
ITWN.L vs. FRXT.L - Volatility Comparison
iShares MSCI Taiwan UCITS ETF (ITWN.L) has a higher volatility of 9.68% compared to Franklin FTSE Taiwan UCITS ETF (FRXT.L) at 9.21%. This indicates that ITWN.L's price experiences larger fluctuations and is considered to be riskier than FRXT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITWN.L | FRXT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.68% | 9.21% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 18.60% | 17.85% | +0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.88% | 22.19% | +0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.77% | 20.73% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.55% | 20.73% | -0.18% |
ITWN.L vs. FRXT.L - Expense Ratio Comparison
ITWN.L has a 0.74% expense ratio, which is higher than FRXT.L's 0.19% expense ratio.
Dividends
ITWN.L vs. FRXT.L - Dividend Comparison
ITWN.L's dividend yield for the trailing twelve months is around 0.89%, while FRXT.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRXT.L Franklin FTSE Taiwan UCITS 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% |
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
With a correlation of 0.98, ITWN.L and FRXT.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, FRXT.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FRXT.L is cheaper with a 0.19% expense ratio, compared with 0.74% for ITWN.L.
Both ETFs track MSCI Taiwan NR USD. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.74% for ITWN.L and 0.19% for FRXT.L.
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