VPL vs. EWT

Last updated Jun 4, 2026

VPL (Vanguard FTSE Pacific ETF) and EWT (iShares MSCI Taiwan ETF) are both Asia Pacific Equities funds - VPL tracks the FTSE Developed Asia Pacific Index while EWT tracks the MSCI Taiwan Index. Both are passively managed. Over the past 10 years, VPL returned 10.84%/yr vs 19.90%/yr for EWT. A 0.71 correlation means they provide meaningful diversification when combined. VPL charges 0.08%/yr vs 0.59%/yr for EWT.

Performance

VPL vs. EWT - Performance Comparison

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

Returns By Period

In the year-to-date period, VPL achieves a 30.29% return, which is significantly lower than EWT's 68.27% return. Over the past 10 years, VPL has underperformed EWT with an annualized return of 10.84%, while EWT has yielded a comparatively higher 19.90% annualized return.

VPL

• 1D: -0.28%
• 1M: 10.45%
• YTD: 30.29%
• 6M: 33.07%
• 1Y: 53.61%
• 3Y*: 23.02%
• 5Y*: 10.36%
• 10Y*: 10.84%

EWT

• 1D: -0.20%
• 1M: 18.24%
• YTD: 68.27%
• 6M: 72.42%
• 1Y: 110.37%
• 3Y*: 38.34%
• 5Y*: 18.33%
• 10Y*: 19.90%

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

VPL vs. EWT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VPL Vanguard FTSE Pacific ETF	30.29%	32.66%	1.68%	15.58%	-15.20%	1.10%	16.65%	18.16%	-14.40%	28.85%
EWT iShares MSCI Taiwan ETF	68.27%	28.38%	16.11%	23.97%	-28.90%	26.18%	31.50%	33.36%	-9.90%	26.81%

Correlation

The correlation between VPL and EWT is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Mar 11, 2005	0.71

The correlation between VPL and EWT has been stable across timeframes, ranging from 0.70 to 0.74 - a consistent structural relationship.

VPL vs. EWT - Sectors Allocation Comparison

Sectors	VPL	EWT
Technology	22.6%	72.9%
Industrials	20.5%	4.9%
Financial Services	19.3%	13.0%
Consumer Cyclical	9.6%	1.9%
Basic Materials	7.3%	3.5%
Healthcare	5.0%	0.8%
Communication Services	4.8%	1.9%
Real Estate	4.3%	-
Consumer Defensive	3.5%	1.1%
Energy	1.6%	-
Utilities	1.6%	-

Return for Risk

VPL vs. EWT — Risk / Return Rank

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

VPL

VPL Risk / Return Rank: 80
VPL Sharpe Ratio Rank: 83
VPL Sortino Ratio Rank: 78
VPL Omega Ratio Rank: 81
VPL Calmar Ratio Rank: 78
VPL Martin Ratio Rank: 80

EWT

EWT Risk / Return Rank: 95
EWT Sharpe Ratio Rank: 96
EWT Sortino Ratio Rank: 94
EWT Omega Ratio Rank: 94
EWT Calmar Ratio Rank: 97
EWT Martin Ratio Rank: 95

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.

VPL vs. EWT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Pacific ETF (VPL) 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.

	VPL	EWT	Difference
Sharpe ratio: Return per unit of total volatility	2.76	4.42	-1.66
Sortino ratio: Return per unit of downside risk	3.60	5.00	-1.41
Omega ratio: Gain probability vs. loss probability	1.49	1.69	-0.20
Calmar ratio: Return relative to maximum drawdown	4.04	10.56	-6.52
Martin ratio: Return relative to average drawdown	15.95	32.40	-16.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VPL vs. EWT - Sharpe Ratio Comparison

The current VPL Sharpe Ratio is 2.76, which is lower than the EWT Sharpe Ratio of 4.42. The chart below compares the historical Sharpe Ratios of VPL 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.

Sharpe Ratios by Period

	VPL	EWT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.76	4.42	-1.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.82	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.92	-0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.26	+0.09

Drawdowns

VPL vs. EWT - Drawdown Comparison

The maximum VPL drawdown since its inception was -55.49%, smaller than the maximum EWT drawdown of -64.37%. Use the drawdown chart below to compare losses from any high point for VPL and EWT.

Drawdown Indicators

	VPL	EWT	Difference
Max Drawdown Largest peak-to-trough decline	-55.49%	-64.37%	+8.88%
Max Drawdown (1Y) Largest decline over 1 year	-13.33%	-10.51%	-2.82%
Max Drawdown (3Y) Largest decline over 3 years	-16.35%	-25.66%	+9.31%
Max Drawdown (5Y) Largest decline over 5 years	-31.09%	-38.88%	+7.79%
Max Drawdown (10Y) Largest decline over 10 years	-33.90%	-38.88%	+4.98%
Current Drawdown Current decline from peak	-0.28%	-0.20%	-0.08%
Average Drawdown Average peak-to-trough decline	-11.63%	-19.23%	+7.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	3.42%	-0.05%

Volatility

VPL vs. EWT - Volatility Comparison

The current volatility for Vanguard FTSE Pacific ETF (VPL) is 7.32%, while iShares MSCI Taiwan ETF (EWT) has a volatility of 10.43%. This indicates that VPL 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

	VPL	EWT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.32%	10.43%	-3.11%
Volatility (6M) Calculated over the trailing 6-month period	16.71%	20.52%	-3.81%
Volatility (1Y) Calculated over the trailing 1-year period	19.55%	25.10%	-5.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.29%	22.59%	-5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.29%	21.60%	-4.31%

VPL vs. EWT - Expense Ratio Comparison

VPL has a 0.08% expense ratio, which is lower than EWT's 0.59% expense ratio.

Dividends

VPL vs. EWT - Dividend Comparison

VPL's dividend yield for the trailing twelve months is around 2.73%, more than EWT's 2.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWT iShares MSCI Taiwan ETF	2.63%	4.43%	3.32%	8.12%	18.82%	0.55%	1.83%	2.49%	3.16%	2.81%	2.39%	3.12%
VPL Vanguard FTSE Pacific ETF	2.73%	4.01%	3.15%	3.12%	2.75%	3.19%	1.81%	2.84%	3.06%	2.57%	2.65%	2.43%

Frequently Asked Questions

Can I hold both VPL and EWT in my portfolio?

VPL and EWT have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VPL or EWT?

EWT has higher volatility (10.43%) compared to VPL (7.32%). In terms of maximum drawdown, VPL dropped -55.49% vs EWT's -64.37%.

Which ETF is better, VPL or EWT?

On 10-year performance, EWT leads with 19.90% vs 10.84% for VPL. On fees, VPL is cheaper at 0.08% per year. On volatility, VPL has been the lower-risk option at 7.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VPL or EWT?

Over the 10-year period, EWT has performed better with a 19.90% return vs 10.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VPL or EWT?

VPL is cheaper with a 0.08% expense ratio, compared with 0.59% for EWT.

Which ETF pays a higher dividend yield, VPL or EWT?

VPL has the higher dividend yield at 2.73%, compared with 2.63% for EWT.

What is the main difference between VPL and EWT?

VPL tracks FTSE Developed Asia Pacific Index, while EWT tracks MSCI Taiwan Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.08% for VPL and 0.59% for EWT.

Which has better risk-adjusted returns?

EWT currently has the higher Sharpe Ratio (4.42 vs 2.76), 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.