EWT vs SPY
EWT vs SPY
iShares MSCI Taiwan ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. EWT delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | EWT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.09% | |
| AUM | $10.0B | $789.1B | |
| Dividend Yield | 2.59% | 1.01% | |
| Holdings | 85 | 505 | |
| YTD Return | +59.16% | +13.79% | |
| 1Y Return | +78.64% | +23.66% | |
| 3Y Return (annualized) | +37.95% | +21.40% | |
| 5Y Return (annualized) | +17.92% | +13.37% | |
| Volatility (annualized) | 24.5% | 15.3% | |
| Max Drawdown | -64.0% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 20, 2000 | Jan 22, 1993 |
EWT vs SPY Performance
iShares MSCI Taiwan ETF (EWT) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EWT returned +78.64% while SPY returned +23.66%. Year to date, EWT is up 59.16% versus a gain of 13.79% for SPY.
Over three years, EWT compounded at +37.95% per year against +21.40% for SPY; over five years the annualized figures are +17.92% and +13.37% respectively. Across the full 26-year window we track, SPY has the edge at +8.85% annualized vs +7.28%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EWT has been the more volatile fund, with annualized monthly volatility of 24.5% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -64.0% for EWT and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EWT charges 0.59% per year while SPY charges 0.09%. On a $10,000 position that is $59 vs $9 annually, a gap of $50 per year that compounds over a long holding period. On income, EWT currently yields 2.59% against 1.01% for SPY.
Holdings Overlap
EWT and SPY share 0 holdings out of 583 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EWT or SPY?
EWT has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, EWT or SPY?
Over the past year EWT returned +78.64% vs +23.66% for SPY, so EWT leads on 1-year performance. Over the longest common window we track (26 years), EWT annualized +7.28% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, EWT or SPY?
EWT has been the more volatile fund at 24.5% annualized versus 15.3% for SPY. Worst drawdown: EWT -64.0% vs SPY -56.5%.
Should I hold both EWT and SPY?
EWT and SPY have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EWT and SPY?
EWT and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 583 unique securities.
Which pays a higher dividend, EWT or SPY?
EWT yields 2.59% while SPY yields 1.01%, so EWT currently pays the higher dividend yield.
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