TWDUSD=X vs. VWO
TWDUSD=X (TWD/USD) is a currency, while VWO (Vanguard FTSE Emerging Markets ETF) is Emerging Markets Equities fund tracking the FTSE Emerging Index. Over the past 10 years, TWDUSD=X returned 0.26%/yr vs 9.31%/yr for VWO. At a 0.34 correlation, their price movements are largely independent.
Performance
TWDUSD=X vs. VWO - Performance Comparison
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Returns By Period
In the year-to-date period, TWDUSD=X achieves a -0.74% return, which is significantly lower than VWO's 14.05% return. Over the past 10 years, TWDUSD=X has underperformed VWO with an annualized return of 0.26%, while VWO has yielded a comparatively higher 9.31% annualized return.
TWDUSD=X
- 1D
- 0.13%
- 1M
- -0.36%
- YTD
- -0.74%
- 6M
- -0.22%
- 1Y
- -6.19%
- 3Y*
- -0.65%
- 5Y*
- -2.40%
- 10Y*
- 0.26%
VWO
- 1D
- 0.77%
- 1M
- 3.96%
- YTD
- 14.05%
- 6M
- 14.71%
- 1Y
- 32.13%
- 3Y*
- 18.64%
- 5Y*
- 5.90%
- 10Y*
- 9.31%
TWDUSD=X vs. VWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TWDUSD=X TWD/USD | -0.74% | 4.63% | -6.51% | -0.14% | -9.57% | 1.47% | 6.35% | 2.23% | -2.82% | 9.32% |
VWO Vanguard FTSE Emerging Markets ETF | 14.05% | 25.60% | 10.59% | 9.25% | -17.98% | 1.26% | 15.17% | 20.75% | -14.76% | 31.49% |
Correlation
The correlation between TWDUSD=X and VWO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2007 | 0.34 |
The correlation between TWDUSD=X and VWO shifts across timeframes, from 0.34 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TWDUSD=X vs. VWO — Risk / Return Rank
TWDUSD=X
VWO
TWDUSD=X vs. VWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TWD/USD (TWDUSD=X) and Vanguard FTSE Emerging Markets ETF (VWO). 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 | VWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.89 | ||
| Sortino ratioReturn per unit of downside risk | -3.99 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.36 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 2.89 | -3.40 |
| Martin ratioReturn relative to average drawdown | -0.71 | 10.19 | -10.91 |
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Drawdowns
TWDUSD=X vs. VWO - Drawdown Comparison
The maximum TWDUSD=X drawdown since its inception was -17.28%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for TWDUSD=X and VWO.
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Drawdown Indicators
| TWDUSD=X | VWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.28% | -67.68% | +50.40% |
Max Drawdown (1Y)Largest decline over 1 year | -9.90% | -11.17% | +1.27% |
Max Drawdown (3Y)Largest decline over 3 years | -9.90% | -17.37% | +7.47% |
Max Drawdown (5Y)Largest decline over 5 years | -17.28% | -32.60% | +15.32% |
Max Drawdown (10Y)Largest decline over 10 years | -17.28% | -36.39% | +19.11% |
Current DrawdownCurrent decline from peak | -12.94% | 0.00% | -12.94% |
Average DrawdownAverage peak-to-trough decline | -6.88% | -15.79% | +8.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 3.16% | +0.99% |
Volatility
TWDUSD=X vs. VWO - Volatility Comparison
The current volatility for TWD/USD (TWDUSD=X) is 1.13%, while Vanguard FTSE Emerging Markets ETF (VWO) has a volatility of 6.57%. This indicates that TWDUSD=X experiences smaller price fluctuations and is considered to be less risky than VWO 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 | VWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 6.57% | -5.44% |
Volatility (6M)Calculated over the trailing 6-month period | 3.36% | 14.28% | -10.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.26% | 16.67% | -11.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 17.53% | -11.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.58% | 19.24% | -13.66% |
Frequently Asked Questions
TWDUSD=X and VWO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VWO has higher volatility (6.57%) compared to TWDUSD=X (1.13%). In terms of maximum drawdown, TWDUSD=X dropped -17.28% vs VWO's -67.68%.
VWO currently has the higher Sharpe Ratio (1.94 vs -0.95), 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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