XKS2.L vs. ITWN.L

Last updated Jun 25, 2026

XKS2.L (Xtrackers MSCI Korea UCITS ETF 1C) and ITWN.L (iShares MSCI Taiwan UCITS ETF) are both Asia Pacific Equities funds - XKS2.L tracks the MSCI Korea NR USD while ITWN.L tracks the MSCI Taiwan NR USD. Both are passively managed. Over the past 10 years, XKS2.L returned 17.48%/yr vs 22.53%/yr for ITWN.L. A 0.65 correlation means they provide meaningful diversification when combined. XKS2.L charges 0.65%/yr vs 0.74%/yr for ITWN.L.

Performance

XKS2.L vs. ITWN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI Korea UCITS ETF 1C (XKS2.L) and iShares MSCI Taiwan UCITS ETF (ITWN.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XKS2.L achieves a 106.16% return, which is significantly higher than ITWN.L's 69.22% return. Over the past 10 years, XKS2.L has underperformed ITWN.L with an annualized return of 17.48%, while ITWN.L has yielded a comparatively higher 22.53% annualized return.

XKS2.L

• 1D: 1.38%
• 1M: 8.26%
• YTD: 106.16%
• 6M: 116.67%
• 1Y: 196.48%
• 3Y*: 47.23%
• 5Y*: 19.21%
• 10Y*: 17.48%

ITWN.L

• 1D: -1.19%
• 1M: 9.11%
• YTD: 69.22%
• 6M: 73.41%
• 1Y: 108.23%
• 3Y*: 41.73%
• 5Y*: 22.75%
• 10Y*: 22.53%

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

XKS2.L vs. ITWN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XKS2.L Xtrackers MSCI Korea UCITS ETF 1C	106.16%	85.79%	-21.66%	13.44%	-19.57%	-7.21%	38.65%	7.36%	-16.62%	32.71%
ITWN.L iShares MSCI Taiwan UCITS ETF	69.22%	22.61%	25.77%	21.84%	-21.08%	29.84%	30.38%	29.88%	-3.90%	16.56%

Correlation

The correlation between XKS2.L and ITWN.L is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008	0.65

The correlation between XKS2.L and ITWN.L has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.

XKS2.L vs. ITWN.L - Sectors Allocation Comparison

Sectors	XKS2.L	ITWN.L
Technology	59.9%	82.6%
Industrials	16.2%	1.8%
Financial Services	8.2%	10.4%
Consumer Cyclical	6.8%	0.9%
Healthcare	2.6%	0.5%
Communication Services	2.4%	1.3%
Basic Materials	1.6%	1.8%
Consumer Defensive	1.2%	0.7%
Energy	0.8%	-
Utilities	0.3%	-
Real Estate	-	-

Return for Risk

XKS2.L vs. ITWN.L — Risk / Return Rank

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

XKS2.L

XKS2.L Risk / Return Rank: 96
XKS2.L Sharpe Ratio Rank: 98
XKS2.L Sortino Ratio Rank: 95
XKS2.L Omega Ratio Rank: 96
XKS2.L Calmar Ratio Rank: 97
XKS2.L Martin Ratio Rank: 96

ITWN.L

ITWN.L Risk / Return Rank: 97
ITWN.L Sharpe Ratio Rank: 97
ITWN.L Sortino Ratio Rank: 96
ITWN.L Omega Ratio Rank: 96
ITWN.L Calmar Ratio Rank: 98
ITWN.L Martin Ratio Rank: 96

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.

XKS2.L vs. ITWN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Korea UCITS ETF 1C (XKS2.L) and iShares MSCI Taiwan UCITS ETF (ITWN.L). 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.

	XKS2.L	ITWN.L	Difference
Sharpe ratio: Return per unit of total volatility	4.97	4.41	+0.56
Sortino ratio: Return per unit of downside risk	4.71	5.07	-0.36
Omega ratio: Gain probability vs. loss probability	1.69	1.70	0.00
Calmar ratio: Return relative to maximum drawdown	9.15	11.49	-2.34
Martin ratio: Return relative to average drawdown	30.58	30.65	-0.08

XKS2.L vs. ITWN.L - Sharpe Ratio Comparison

The current XKS2.L Sharpe Ratio is 4.97, which is comparable to the ITWN.L Sharpe Ratio of 4.41. The chart below compares the historical Sharpe Ratios of XKS2.L and ITWN.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XKS2.L vs. ITWN.L - Drawdown Comparison

The maximum XKS2.L drawdown since its inception was -76.54%, which is greater than ITWN.L's maximum drawdown of -72.46%. Use the drawdown chart below to compare losses from any high point for XKS2.L and ITWN.L.

Drawdown Indicators

	XKS2.L	ITWN.L	Difference
Max Drawdown Largest peak-to-trough decline	-76.54%	-72.46%	-4.08%
Max Drawdown (1Y) Largest decline over 1 year	-21.33%	-9.36%	-11.97%
Max Drawdown (3Y) Largest decline over 3 years	-37.56%	-29.32%	-8.24%
Max Drawdown (5Y) Largest decline over 5 years	-40.70%	-30.07%	-10.63%
Max Drawdown (10Y) Largest decline over 10 years	-44.01%	-30.07%	-13.94%
Current Drawdown Current decline from peak	-9.20%	-5.95%	-3.25%
Average Drawdown Average peak-to-trough decline	-29.32%	-21.94%	-7.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.39%	3.52%	+2.87%

Volatility

XKS2.L vs. ITWN.L - Volatility Comparison

Xtrackers MSCI Korea UCITS ETF 1C (XKS2.L) has a higher volatility of 18.54% compared to iShares MSCI Taiwan UCITS ETF (ITWN.L) at 10.60%. This indicates that XKS2.L's price experiences larger fluctuations and is considered to be riskier than ITWN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XKS2.L	ITWN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.54%	10.60%	+7.94%
Volatility (6M) Calculated over the trailing 6-month period	35.26%	20.41%	+14.85%
Volatility (1Y) Calculated over the trailing 1-year period	39.48%	24.48%	+15.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.74%	21.14%	+8.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.74%	20.46%	+6.28%

XKS2.L vs. ITWN.L - Expense Ratio Comparison

XKS2.L has a 0.65% expense ratio, which is lower than ITWN.L's 0.74% expense ratio.

Dividends

XKS2.L vs. ITWN.L - Dividend Comparison

XKS2.L has not paid dividends to shareholders, while ITWN.L's dividend yield for the trailing twelve months is around 0.89%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITWN.L iShares MSCI Taiwan UCITS ETF	0.89%	1.50%	1.37%	2.14%	3.54%	1.33%	1.83%	2.30%	2.72%	2.74%	2.86%	3.21%
XKS2.L Xtrackers MSCI Korea UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XKS2.L and ITWN.L in my portfolio?

XKS2.L and ITWN.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XKS2.L or ITWN.L?

On fees, XKS2.L is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XKS2.L or ITWN.L?

XKS2.L is cheaper with a 0.65% expense ratio, compared with 0.74% for ITWN.L.

What is the main difference between XKS2.L and ITWN.L?

XKS2.L tracks MSCI Korea NR USD, while ITWN.L tracks MSCI Taiwan NR USD. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.65% for XKS2.L and 0.74% for ITWN.L.