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XNIF.L vs. ITWN.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XNIF.L vs. ITWN.L

Last updated Jun 26, 2026

XNIF.L (Xtrackers Nifty 50 Swap UCITS ETF 1C) and ITWN.L (iShares MSCI Taiwan UCITS ETF) are both Asia Pacific Equities funds - XNIF.L tracks the MSCI India NR USD while ITWN.L tracks the MSCI Taiwan NR USD. Both are passively managed. Over the past 10 years, XNIF.L returned 7.35%/yr vs 22.42%/yr for ITWN.L. At a 0.49 correlation, their price movements are largely independent. XNIF.L charges 0.85%/yr vs 0.74%/yr for ITWN.L.

Performance

XNIF.L vs. ITWN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers Nifty 50 Swap UCITS ETF 1C (XNIF.L) and iShares MSCI Taiwan UCITS ETF (ITWN.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XNIF.L achieves a -11.45% return, which is significantly lower than ITWN.L's 69.14% return. Over the past 10 years, XNIF.L has underperformed ITWN.L with an annualized return of 7.35%, while ITWN.L has yielded a comparatively higher 22.42% annualized return.

XNIF.L

1D
-0.47%
1M
4.15%
YTD
-11.45%
6M
-11.02%
1Y
-11.03%
3Y*
1.85%
5Y*
4.27%
10Y*
7.35%

ITWN.L

1D
-0.05%
1M
4.02%
YTD
69.14%
6M
73.32%
1Y
105.82%
3Y*
41.40%
5Y*
22.74%
10Y*
22.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XNIF.L
Xtrackers Nifty 50 Swap UCITS ETF 1C		-11.45%-1.71%6.70%11.98%5.08%23.10%7.50%5.06%-1.17%23.90%
ITWN.L
iShares MSCI Taiwan UCITS ETF		69.14%22.61%25.77%21.84%-21.08%29.84%30.38%29.88%-3.90%16.56%

Correlation

The correlation between XNIF.L and ITWN.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.33

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

0.28

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

0.31

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

0.45

Correlation (All Time)
Calculated using the full available price history since Jan 2, 2008

0.49

The correlation between XNIF.L and ITWN.L shifts across timeframes, from 0.28 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.

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

Sectors
XNIF.L
ITWN.L

Technology

22.4%
82.6%

Consumer Cyclical

19.7%
0.9%

Communication Services

17.1%
1.3%

Financial Services

11.0%
10.4%

Healthcare

11.0%
0.5%

Consumer Defensive

7.7%
0.7%

Energy

5.4%

-

Basic Materials

2.6%
1.8%

Industrials

2.3%
1.8%

Utilities

0.9%

-

Real Estate

-

-

Technology

XNIF.L
22.4%
ITWN.L
82.6%

Consumer Cyclical

XNIF.L
19.7%
ITWN.L
0.9%

Communication Services

XNIF.L
17.1%
ITWN.L
1.3%

Financial Services

XNIF.L
11.0%
ITWN.L
10.4%

Healthcare

XNIF.L
11.0%
ITWN.L
0.5%

Consumer Defensive

XNIF.L
7.7%
ITWN.L
0.7%

Energy

XNIF.L
5.4%
ITWN.L

-

Basic Materials

XNIF.L
2.6%
ITWN.L
1.8%

Industrials

XNIF.L
2.3%
ITWN.L
1.8%

Utilities

XNIF.L
0.9%
ITWN.L

-

Real Estate

XNIF.L

-

ITWN.L

-

Compare stocks, funds, or ETFs

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

Xtrackers Nifty 50 Swap UCITS ETF 1C

iShares MSCI Taiwan UCITS ETF

Often compared with XNIF.L:
XNIF.L vs. FRIN.LXNIF.L vs. INDYXNIF.L vs. NFTYXNIF.L vs. ^NIFTY500XNIF.L vs. IGCXNIF.L vs. SPYXNIF.L vs. FLIN
Often compared with ITWN.L:
ITWN.L vs. QQQITWN.L vs. SPINXITWN.L vs. TSMITWN.L vs. VTIITWN.L vs. VWCE.DEITWN.L vs. FLXT.DEITWN.L vs. IUIT.L

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XNIF.L
XNIF.L Risk / Return Rank: 44
Overall Rank
XNIF.L Sharpe Ratio Rank: 44
Sharpe Ratio Rank
XNIF.L Sortino Ratio Rank: 44
Sortino Ratio Rank
XNIF.L Omega Ratio Rank: 44
Omega Ratio Rank
XNIF.L Calmar Ratio Rank: 55
Calmar Ratio Rank
XNIF.L Martin Ratio Rank: 55
Martin Ratio Rank
ITWN.L
ITWN.L Risk / Return Rank: 9797
Overall Rank
ITWN.L Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
ITWN.L Sortino Ratio Rank: 9696
Sortino Ratio Rank
ITWN.L Omega Ratio Rank: 9696
Omega Ratio Rank
ITWN.L Calmar Ratio Rank: 9898
Calmar Ratio Rank
ITWN.L Martin Ratio Rank: 9696
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.

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

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Nifty 50 Swap UCITS ETF 1C (XNIF.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.

XNIF.LITWN.LDifference
Sharpe ratioReturn per unit of total volatility
-0.74
4.31

-5.05

Sortino ratioReturn per unit of downside risk
-1.01
4.99

-6.00

Omega ratioGain probability vs. loss probability

0.89

1.69

-0.80

Calmar ratioReturn relative to maximum drawdown

-0.52

11.24

-11.76

Martin ratioReturn relative to average drawdown

-1.02

29.80

-30.82

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

The current XNIF.L Sharpe Ratio is -0.74, which is lower than the ITWN.L Sharpe Ratio of 4.31. The chart below compares the historical Sharpe Ratios of XNIF.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.

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Drawdowns

XNIF.L vs. ITWN.L - Drawdown Comparison

The maximum XNIF.L drawdown since its inception was -78.21%, 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 XNIF.L and ITWN.L.

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Drawdown Indicators

XNIF.LITWN.LDifference

Max Drawdown

Largest peak-to-trough decline

-78.21%

-72.46%

-5.75%

Max Drawdown (1Y)

Largest decline over 1 year

-21.09%

-9.36%

-11.73%

Max Drawdown (3Y)

Largest decline over 3 years

-25.36%

-29.32%

+3.96%

Max Drawdown (5Y)

Largest decline over 5 years

-25.36%

-30.07%

+4.71%

Max Drawdown (10Y)

Largest decline over 10 years

-38.55%

-30.07%

-8.48%

Current Drawdown

Current decline from peak

-19.86%

-6.00%

-13.86%

Average Drawdown

Average peak-to-trough decline

-33.80%

-21.95%

-11.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.83%

3.54%

+7.29%

Volatility

XNIF.L vs. ITWN.L - Volatility Comparison

The current volatility for Xtrackers Nifty 50 Swap UCITS ETF 1C (XNIF.L) is 4.69%, while iShares MSCI Taiwan UCITS ETF (ITWN.L) has a volatility of 10.48%. This indicates that XNIF.L experiences smaller price fluctuations and is considered to be less risky than ITWN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XNIF.LITWN.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.69%

10.48%

-5.79%

Volatility (6M)

Calculated over the trailing 6-month period

12.48%

20.41%

-7.93%

Volatility (1Y)

Calculated over the trailing 1-year period

14.86%

24.41%

-9.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.74%

21.14%

-0.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.83%

20.45%

+1.38%

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

XNIF.L has a 0.85% expense ratio, which is higher than ITWN.L's 0.74% expense ratio.

Dividends

XNIF.L vs. ITWN.L - Dividend Comparison

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

PositionTTM20252024202320222021202020192018201720162015
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%
XNIF.L
Xtrackers Nifty 50 Swap 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

XNIF.L and ITWN.L have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ITWN.L is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ITWN.L is cheaper with a 0.74% expense ratio, compared with 0.85% for XNIF.L.

XNIF.L tracks MSCI India NR USD, while ITWN.L tracks MSCI Taiwan NR USD. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.85% for XNIF.L and 0.74% for ITWN.L.

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