TWDUSD=X vs. EWT
TWDUSD=X (TWD/USD) is a currency, while EWT (iShares MSCI Taiwan ETF) is Asia Pacific Equities fund tracking the MSCI Taiwan 25/50 Index. Over the past 10 years, TWDUSD=X returned 0.21%/yr vs 20.44%/yr for EWT. At a 0.41 correlation, their price movements are largely independent.
Performance
TWDUSD=X vs. EWT - Performance Comparison
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Returns By Period
In the year-to-date period, TWDUSD=X achieves a -1.49% return, which is significantly lower than EWT's 65.13% return. Over the past 10 years, TWDUSD=X has underperformed EWT with an annualized return of 0.21%, while EWT has yielded a comparatively higher 20.44% annualized return.
TWDUSD=X
- 1D
- 0.07%
- 1M
- -1.15%
- YTD
- -1.49%
- 6M
- -0.89%
- 1Y
- -8.00%
- 3Y*
- -0.85%
- 5Y*
- -2.63%
- 10Y*
- 0.21%
EWT
- 1D
- 0.18%
- 1M
- 2.71%
- YTD
- 65.13%
- 6M
- 67.78%
- 1Y
- 91.47%
- 3Y*
- 39.20%
- 5Y*
- 18.94%
- 10Y*
- 20.44%
TWDUSD=X vs. EWT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TWDUSD=X TWD/USD | -1.49% | 4.63% | -6.51% | -0.14% | -9.57% | 1.47% | 6.35% | 2.23% | -2.82% | 9.32% |
EWT iShares MSCI Taiwan ETF | 65.13% | 28.38% | 16.11% | 29.00% | -28.90% | 26.18% | 31.50% | 33.36% | -9.90% | 26.81% |
Correlation
The correlation between TWDUSD=X and EWT is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2007 | 0.41 |
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Return for Risk
TWDUSD=X vs. EWT — Risk / Return Rank
TWDUSD=X
EWT
TWDUSD=X vs. EWT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TWD/USD (TWDUSD=X) 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.
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.
| TWDUSD=X | EWT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.56 | ||
| Sortino ratioReturn per unit of downside risk | -5.53 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.55 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | 8.75 | -9.40 |
| Martin ratioReturn relative to average drawdown | -0.92 | 25.39 | -26.31 |
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Drawdowns
TWDUSD=X vs. EWT - Drawdown Comparison
The maximum TWDUSD=X drawdown since its inception was -17.28%, smaller than the maximum EWT drawdown of -64.37%. Use the drawdown chart below to compare losses from any high point for TWDUSD=X and EWT.
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Drawdown Indicators
| TWDUSD=X | EWT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.28% | -64.37% | +47.09% |
Max Drawdown (1Y)Largest decline over 1 year | -9.90% | -10.51% | +0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -9.90% | -25.66% | +15.76% |
Max Drawdown (5Y)Largest decline over 5 years | -17.28% | -38.88% | +21.60% |
Max Drawdown (10Y)Largest decline over 10 years | -17.28% | -38.88% | +21.60% |
Current DrawdownCurrent decline from peak | -13.60% | -5.94% | -7.66% |
Average DrawdownAverage peak-to-trough decline | -6.88% | -19.13% | +12.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.19% | 3.61% | +0.58% |
Volatility
TWDUSD=X vs. EWT - Volatility Comparison
The current volatility for TWD/USD (TWDUSD=X) is 1.11%, while iShares MSCI Taiwan ETF (EWT) has a volatility of 13.81%. This indicates that TWDUSD=X 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.
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Volatility by Period
| TWDUSD=X | EWT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 13.81% | -12.70% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 23.90% | -20.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.24% | 27.73% | -22.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 23.16% | -16.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.56% | 21.80% | -16.24% |
Frequently Asked Questions
TWDUSD=X and EWT have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWT has higher volatility (13.81%) compared to TWDUSD=X (1.11%). In terms of maximum drawdown, TWDUSD=X dropped -17.28% vs EWT's -64.37%.
EWT currently has the higher Sharpe Ratio (3.32 vs -1.25), 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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