ITWN.L vs. SPINX

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI Taiwan UCITS ETF (ITWN.L) and SEI Institutional Investments Trust S&P 500 Index Fund (SPINX).

ITWN.L is a passively managed fund by iShares that tracks the performance of the MSCI Taiwan NR USD. It was launched on Oct 28, 2005. SPINX is a passively managed fund by SEI that tracks the performance of the S&P 500 Index. It was launched on Dec 18, 2013. Both ITWN.L and SPINX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ITWN.L vs. SPINX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Taiwan UCITS ETF (ITWN.L) and SEI Institutional Investments Trust S&P 500 Index Fund (SPINX). The values are adjusted to include any dividend payments, if applicable.

ITWN.L vs. SPINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITWN.L iShares MSCI Taiwan UCITS ETF	15.01%	22.61%	25.77%	21.84%	-21.08%	29.84%	29.40%	30.88%	-3.90%	16.56%
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	-2.56%	9.49%	26.18%	19.93%	-8.56%	29.84%	14.87%	26.42%	1.20%	11.21%

Different Trading Currencies

ITWN.L is traded in GBp, while SPINX is traded in USD. To make them comparable, the SPINX 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 15.01% return, which is significantly higher than SPINX's -2.56% return. Over the past 10 years, ITWN.L has outperformed SPINX with an annualized return of 18.28%, while SPINX has yielded a comparatively lower 14.76% annualized return.

ITWN.L

• 1D: 3.80%
• 1M: -3.96%
• YTD: 15.01%
• 6M: 21.92%
• 1Y: 59.35%
• 3Y*: 25.07%
• 5Y*: 14.52%
• 10Y*: 18.28%

SPINX

• 1D: 2.62%
• 1M: -3.74%
• YTD: -2.56%
• 6M: -0.21%
• 1Y: 14.67%
• 3Y*: 15.27%
• 5Y*: 12.55%
• 10Y*: 14.76%

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

ITWN.L vs. SPINX - Expense Ratio Comparison

ITWN.L has a 0.74% expense ratio, which is higher than SPINX's 0.12% expense ratio.

ITWN.L

iShares MSCI Taiwan UCITS ETF

SPINX

SEI Institutional Investments Trust S&P 500 Index Fund

Return for Risk

ITWN.L vs. SPINX — 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: 94
ITWN.L Sharpe Ratio Rank: 94
ITWN.L Sortino Ratio Rank: 94
ITWN.L Omega Ratio Rank: 92
ITWN.L Calmar Ratio Rank: 97
ITWN.L Martin Ratio Rank: 95

SPINX

SPINX Risk / Return Rank: 56
SPINX Sharpe Ratio Rank: 46
SPINX Sortino Ratio Rank: 49
SPINX Omega Ratio Rank: 53
SPINX Calmar Ratio Rank: 59
SPINX Martin Ratio Rank: 72

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. SPINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan UCITS ETF (ITWN.L) and SEI Institutional Investments Trust S&P 500 Index Fund (SPINX). 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	SPINX	Difference
Sharpe ratio Return per unit of total volatility	2.38	0.81	+1.57
Sortino ratio Return per unit of downside risk	2.97	1.24	+1.73
Omega ratio Gain probability vs. loss probability	1.42	1.19	+0.23
Calmar ratio Return relative to maximum drawdown	4.94	1.36	+3.58
Martin ratio Return relative to average drawdown	16.54	5.63	+10.91
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. SPINX - Sharpe Ratio Comparison

The current ITWN.L Sharpe Ratio is 2.38, which is higher than the SPINX Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of ITWN.L and SPINX, 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

	ITWN.L	SPINX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	0.81	+1.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.57	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	0.70	+0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.74	-0.18

Correlation

The correlation between ITWN.L and SPINX is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ITWN.L vs. SPINX - Dividend Comparison

ITWN.L's dividend yield for the trailing twelve months is around 1.30%, less than SPINX's 12.44% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITWN.L iShares MSCI Taiwan UCITS ETF	1.30%	1.50%	1.37%	2.14%	3.54%	1.33%	1.83%	2.28%	2.72%	2.74%	2.86%	3.23%
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	12.44%	11.90%	26.02%	9.77%	9.59%	6.58%	3.58%	3.01%	4.94%	2.32%	1.97%	2.29%

Drawdowns

ITWN.L vs. SPINX - Drawdown Comparison

The maximum ITWN.L drawdown since its inception was -48.27%, which is greater than SPINX's maximum drawdown of -34.75%. Use the drawdown chart below to compare losses from any high point for ITWN.L and SPINX.

Drawdown Indicators

	ITWN.L	SPINX	Difference
Max Drawdown Largest peak-to-trough decline	-48.27%	-33.82%	-14.45%
Max Drawdown (1Y) Largest decline over 1 year	-16.63%	-12.11%	-4.52%
Max Drawdown (5Y) Largest decline over 5 years	-30.07%	-32.91%	+2.84%
Max Drawdown (10Y) Largest decline over 10 years	-30.07%	-33.82%	+3.75%
Current Drawdown Current decline from peak	-5.62%	-11.03%	+5.41%
Average Drawdown Average peak-to-trough decline	-9.24%	-5.25%	-3.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	2.53%	+1.01%

Volatility

ITWN.L vs. SPINX - Volatility Comparison

iShares MSCI Taiwan UCITS ETF (ITWN.L) has a higher volatility of 7.38% compared to SEI Institutional Investments Trust S&P 500 Index Fund (SPINX) at 4.58%. This indicates that ITWN.L's price experiences larger fluctuations and is considered to be riskier than SPINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITWN.L	SPINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.38%	4.58%	+2.80%
Volatility (6M) Calculated over the trailing 6-month period	16.32%	9.54%	+6.78%
Volatility (1Y) Calculated over the trailing 1-year period	24.88%	18.76%	+6.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.67%	22.04%	-1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.25%	21.23%	-0.98%