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VOO vs. EWT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VOO vs. EWT

Last updated Jun 14, 2026

VOO (Vanguard S&P 500 ETF) and EWT (iShares MSCI Taiwan ETF) are both exchange-traded funds - VOO is a S&P 500 fund tracking the S&P 500 Index, while EWT is a Asia Pacific Equities fund tracking the MSCI Taiwan Index. Both are passively managed. Over the past 10 years, VOO returned 15.50%/yr vs 19.56%/yr for EWT. A 0.66 correlation means they provide meaningful diversification when combined. VOO charges 0.03%/yr vs 0.59%/yr for EWT.

Performance

VOO vs. EWT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P 500 ETF (VOO) and iShares MSCI Taiwan ETF (EWT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VOO achieves a 9.08% return, which is significantly lower than EWT's 61.53% return. Over the past 10 years, VOO has underperformed EWT with an annualized return of 15.50%, while EWT has yielded a comparatively higher 19.56% annualized return.

VOO

1D
0.55%
1M
-0.84%
YTD
9.08%
6M
9.44%
1Y
25.76%
3Y*
20.95%
5Y*
13.43%
10Y*
15.50%

EWT

1D
0.17%
1M
7.48%
YTD
61.53%
6M
67.45%
1Y
92.18%
3Y*
34.98%
5Y*
17.48%
10Y*
19.56%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VOO vs. EWT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VOO
Vanguard S&P 500 ETF		9.08%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%
EWT
iShares MSCI Taiwan ETF		61.53%28.38%16.11%23.97%-28.90%26.18%31.50%33.36%-9.90%26.81%

Correlation

The correlation between VOO and EWT is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.73

Correlation (3Y)
Calculated over the trailing 3-year period

0.67

Correlation (5Y)
Calculated over the trailing 5-year period

0.67

Correlation (10Y)
Calculated over the trailing 10-year period

0.66

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2010

0.66

The correlation between VOO and EWT has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.

VOO vs. EWT - Sectors Allocation Comparison

Sectors
VOO
EWT

Technology

35.6%
76.9%

Financial Services

11.6%
12.0%

Communication Services

11.1%
1.7%

Consumer Cyclical

10.1%
1.6%

Healthcare

8.5%
1.0%

Industrials

8.0%
3.1%

Consumer Defensive

4.9%
1.0%

Energy

3.5%

-

Utilities

2.8%

-

Real Estate

1.9%

-

Basic Materials

1.8%
2.9%

Technology

VOO
35.6%
EWT
76.9%

Financial Services

VOO
11.6%
EWT
12.0%

Communication Services

VOO
11.1%
EWT
1.7%

Consumer Cyclical

VOO
10.1%
EWT
1.6%

Healthcare

VOO
8.5%
EWT
1.0%

Industrials

VOO
8.0%
EWT
3.1%

Consumer Defensive

VOO
4.9%
EWT
1.0%

Energy

VOO
3.5%
EWT

-

Utilities

VOO
2.8%
EWT

-

Real Estate

VOO
1.9%
EWT

-

Basic Materials

VOO
1.8%
EWT
2.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard S&P 500 ETF

iShares MSCI Taiwan ETF

Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. SPYVOO vs. FXAIXVOO vs. IVV
Often compared with EWT:
EWT vs. EWYEWT vs. FLTWEWT vs. VTEWT vs. QQQEWT vs. EWHEWT vs. EWSEWT vs. EWX

Return for Risk

VOO vs. EWT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VOO
VOO Risk / Return Rank: 7070
Overall Rank
VOO Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 6969
Sortino Ratio Rank
VOO Omega Ratio Rank: 7171
Omega Ratio Rank
VOO Calmar Ratio Rank: 6363
Calmar Ratio Rank
VOO Martin Ratio Rank: 7676
Martin Ratio Rank
EWT
EWT Risk / Return Rank: 9494
Overall Rank
EWT Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
EWT Sortino Ratio Rank: 9292
Sortino Ratio Rank
EWT Omega Ratio Rank: 9292
Omega Ratio Rank
EWT Calmar Ratio Rank: 9696
Calmar Ratio Rank
EWT Martin Ratio Rank: 9595
Martin Ratio Rank
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.

VOO vs. EWT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 ETF (VOO) 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.

VOOEWTDifference
Sharpe ratioReturn per unit of total volatility
1.99
3.36

-1.36

Sortino ratioReturn per unit of downside risk
2.70
3.88

-1.18

Omega ratioGain probability vs. loss probability

1.36

1.55

-0.19

Calmar ratioReturn relative to maximum drawdown

2.75

8.53

-5.78

Martin ratioReturn relative to average drawdown

12.42

25.15

-12.72

VOO vs. EWT - Sharpe Ratio Comparison

The current VOO Sharpe Ratio is 1.99, which is lower than the EWT Sharpe Ratio of 3.36. The chart below compares the historical Sharpe Ratios of VOO and EWT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VOO vs. EWT - Drawdown Comparison

The maximum VOO drawdown since its inception was -33.99%, smaller than the maximum EWT drawdown of -64.37%. Use the drawdown chart below to compare losses from any high point for VOO and EWT.

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Drawdown Indicators

VOOEWTDifference

Max Drawdown

Largest peak-to-trough decline

-33.99%

-64.37%

+30.38%

Max Drawdown (1Y)

Largest decline over 1 year

-8.90%

-10.51%

+1.61%

Max Drawdown (3Y)

Largest decline over 3 years

-18.69%

-25.66%

+6.97%

Max Drawdown (5Y)

Largest decline over 5 years

-24.52%

-38.88%

+14.36%

Max Drawdown (10Y)

Largest decline over 10 years

-33.99%

-38.88%

+4.89%

Current Drawdown

Current decline from peak

-2.34%

-4.19%

+1.85%

Average Drawdown

Average peak-to-trough decline

-3.68%

-19.21%

+15.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.97%

3.56%

-1.59%

Volatility

VOO vs. EWT - Volatility Comparison

The current volatility for Vanguard S&P 500 ETF (VOO) is 4.34%, while iShares MSCI Taiwan ETF (EWT) has a volatility of 13.55%. This indicates that VOO 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

VOOEWTDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.34%

13.55%

-9.21%

Volatility (6M)

Calculated over the trailing 6-month period

9.58%

22.68%

-13.10%

Volatility (1Y)

Calculated over the trailing 1-year period

12.27%

26.75%

-14.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.88%

22.95%

-6.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.03%

21.78%

-3.75%

VOO vs. EWT - Expense Ratio Comparison

VOO has a 0.03% expense ratio, which is lower than EWT's 0.59% expense ratio.

Dividends

VOO vs. EWT - Dividend Comparison

VOO's dividend yield for the trailing twelve months is around 1.05%, less than EWT's 2.74% yield.

PositionTTM20252024202320222021202020192018201720162015
EWT
iShares MSCI Taiwan ETF		2.74%4.43%3.32%8.12%18.82%0.55%1.83%2.49%3.16%2.81%2.39%3.12%
VOO
Vanguard S&P 500 ETF		1.05%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Frequently Asked Questions

VOO and EWT have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWT has higher volatility (13.55%) compared to VOO (4.34%). In terms of maximum drawdown, VOO dropped -33.99% vs EWT's -64.37%.

On 10-year performance, EWT leads with 19.56% vs 15.50% for VOO. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWT has performed better with a 19.56% return vs 15.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOO is cheaper with a 0.03% expense ratio, compared with 0.59% for EWT.

EWT has the higher dividend yield at 2.74%, compared with 1.05% for VOO.

VOO is categorized as S&P 500, while EWT is Asia Pacific Equities. VOO tracks S&P 500 Index, while EWT tracks MSCI Taiwan Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for VOO and 0.59% for EWT.

EWT currently has the higher Sharpe Ratio (3.36 vs 1.99), 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.

Portfolio Optimizer

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