TWDUSD=X vs. EWT
TWDUSD=X (TWD/USD) is a currency, while EWT (iShares MSCI Taiwan ETF) is Taiwan Equities fund tracking the MSCI Taiwan 25/50 Index. Over the past 10 years, TWDUSD=X returned -0.08%/yr vs 18.99%/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 -2.48% return, which is significantly lower than EWT's 61.33% return. Over the past 10 years, TWDUSD=X has underperformed EWT with an annualized return of -0.08%, while EWT has yielded a comparatively higher 18.99% annualized return.
TWDUSD=X
- 1D
- -0.09%
- 1M
- -1.89%
- 6M
- -1.88%
- YTD
- -2.48%
- 1Y
- -8.51%
- 3Y*
- -1.24%
- 5Y*
- -2.73%
- 10Y*
- -0.08%
EWT
- 1D
- 0.60%
- 1M
- -3.65%
- 6M
- 54.10%
- YTD
- 61.33%
- 1Y
- 83.97%
- 3Y*
- 36.76%
- 5Y*
- 18.05%
- 10Y*
- 18.99%
TWDUSD=X vs. EWT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TWDUSD=X TWD/USD | -2.48% | 4.63% | -6.51% | -0.14% | -9.57% | 1.47% | 6.35% | 2.23% | -2.82% | 9.32% |
EWT iShares MSCI Taiwan ETF | 61.33% | 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 | 0.46 |
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 31, 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 | -4.27 | ||
| Sortino ratioReturn per unit of downside risk | -5.24 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.48 | -0.69 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 8.03 | -8.79 |
| Martin ratioReturn relative to average drawdown | -1.08 | 21.65 | -22.73 |
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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 | -9.12% | -10.51% | +1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -10.16% | -25.66% | +15.50% |
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 | -14.46% | -8.11% | -6.35% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -19.10% | +12.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 3.89% | -0.31% |
Volatility
TWDUSD=X vs. EWT - Volatility Comparison
The current volatility for TWD/USD (TWDUSD=X) is 1.02%, while iShares MSCI Taiwan ETF (EWT) has a volatility of 12.95%. 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 | 1.02% | 12.95% | -11.93% |
Volatility (6M)Calculated over the trailing 6-month period | 3.18% | 25.55% | -22.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.14% | 28.88% | -23.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 23.49% | -17.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.56% | 21.94% | -16.38% |
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 (12.95%) compared to TWDUSD=X (1.02%). In terms of maximum drawdown, TWDUSD=X dropped -17.28% vs EWT's -64.37%.
EWT currently has the higher Sharpe Ratio (2.92 vs -1.35), 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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