TWDUSD=X vs. EWT

Last updated Apr 2, 2026

Compare and contrast key facts about TWD/USD (TWDUSD=X) and iShares MSCI Taiwan ETF (EWT).

EWT is a passively managed fund by iShares that tracks the performance of the MSCI Taiwan Index. It was launched on Jun 20, 2000.

Performance

TWDUSD=X vs. EWT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TWD/USD (TWDUSD=X) and iShares MSCI Taiwan ETF (EWT). The values are adjusted to include any dividend payments, if applicable.

TWDUSD=X vs. EWT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWDUSD=X TWD/USD	-1.76%	4.63%	-6.51%	-0.14%	-9.57%	1.47%	6.35%	2.23%	-2.82%	9.32%
EWT iShares MSCI Taiwan ETF	12.89%	28.38%	16.11%	23.97%	-28.90%	26.18%	31.50%	33.36%	-9.90%	26.81%

Returns By Period

In the year-to-date period, TWDUSD=X achieves a -1.76% return, which is significantly lower than EWT's 12.89% return. Over the past 10 years, TWDUSD=X has underperformed EWT with an annualized return of 0.11%, while EWT has yielded a comparatively higher 15.12% annualized return.

TWDUSD=X

• 1D: -0.05%
• 1M: -1.38%
• YTD: -1.76%
• 6M: -4.65%
• 1Y: 4.11%
• 3Y*: -1.44%
• 5Y*: -2.22%
• 10Y*: 0.11%

EWT

• 1D: 1.13%
• 1M: -4.46%
• YTD: 12.89%
• 6M: 16.96%
• 1Y: 55.63%
• 3Y*: 22.72%
• 5Y*: 10.50%
• 10Y*: 15.12%

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

Return for Risk

TWDUSD=X vs. EWT — Risk / Return Rank

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

TWDUSD=X

TWDUSD=X Risk / Return Rank: 42
TWDUSD=X Sharpe Ratio Rank: 57
TWDUSD=X Sortino Ratio Rank: 62
TWDUSD=X Omega Ratio Rank: 63
TWDUSD=X Calmar Ratio Rank: 13
TWDUSD=X Martin Ratio Rank: 18

EWT

EWT Risk / Return Rank: 92
EWT Sharpe Ratio Rank: 91
EWT Sortino Ratio Rank: 92
EWT Omega Ratio Rank: 88
EWT Calmar Ratio Rank: 93
EWT Martin Ratio Rank: 94

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.

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.

	TWDUSD=X	EWT	Difference
Sharpe ratio Return per unit of total volatility	0.37	2.08	-1.72
Sortino ratio Return per unit of downside risk	0.77	2.78	-2.01
Omega ratio Gain probability vs. loss probability	1.10	1.38	-0.28
Calmar ratio Return relative to maximum drawdown	-0.64	3.73	-4.38
Martin ratio Return relative to average drawdown	-0.98	14.90	-15.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TWDUSD=X vs. EWT - Sharpe Ratio Comparison

The current TWDUSD=X Sharpe Ratio is 0.37, which is lower than the EWT Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of TWDUSD=X and EWT, 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

	TWDUSD=X	EWT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	2.08	-1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.33	0.47	-0.80
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.02	0.71	-0.70
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.20	-0.17

Correlation

The correlation between TWDUSD=X and EWT 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.

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.

Drawdown Indicators

	TWDUSD=X	EWT	Difference
Max Drawdown Largest peak-to-trough decline	-17.28%	-64.37%	+47.09%
Max Drawdown (1Y) Largest decline over 1 year	-9.90%	-15.53%	+5.63%
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 Drawdown Current decline from peak	-13.83%	-6.93%	-6.90%
Average Drawdown Average peak-to-trough decline	-6.70%	-19.35%	+12.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.47%	3.89%	+2.58%

Volatility

TWDUSD=X vs. EWT - Volatility Comparison

The current volatility for TWD/USD (TWDUSD=X) is 1.69%, while iShares MSCI Taiwan ETF (EWT) has a volatility of 9.80%. 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.

Volatility by Period

	TWDUSD=X	EWT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.69%	9.80%	-8.11%
Volatility (6M) Calculated over the trailing 6-month period	4.26%	18.16%	-13.90%
Volatility (1Y) Calculated over the trailing 1-year period	8.95%	26.86%	-17.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.29%	22.32%	-16.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.59%	21.22%	-15.63%