TWN vs VOO
Taiwan Fund Inc. vs Vanguard S&P 500 ETF
Which is better, TWN or VOO?
TWN has been ahead.
VOO has a lower expense ratio. TWN led over 1Y, 3Y, 5Y and the full window. VOO is less concentrated, with 37.6% of the fund in its ten largest positions against 73.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | TWN | VOO |
|---|---|---|
| Expense Ratio | 0.96% | 0.03%Best |
| AUM | $311M | $997.4B |
| Dividend Yield | 6.18% | 1.04% |
| Holdings | 30 | 509 |
| YTD Return | +83.32%Best | +12.25% |
| 1Y Return | +108.75%Best | +17.03% |
| 3Y Return (annualized) | +64.17%Best | +21.25% |
| 5Y Return (annualized) | +32.10%Best | +13.08% |
| Volatility (annualized) | 26.1% | 14.1%Best |
| Max Drawdown | -51.7% | -34.3%Best |
| $10,000 over 5 years | $40,227Best | $18,490 |
| Top 10 Weight | 73.2% | 37.6%Best |
| Fund Family | The Taiwan Fund | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 23, 1986 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 17, 2026 (16 years).
TWN vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16 years both funds cover.
TWN vs VOO Performance
Taiwan Fund Inc. (TWN) is an ETF from The Taiwan Fund and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year TWN returned +108.75% while VOO returned +17.03%. Year to date, TWN is up 83.32% versus a gain of 12.25% for VOO.
Over three years, TWN compounded at +64.17% per year against +21.25% for VOO; over five years the annualized figures are +32.10% and +13.08% respectively. Across the full 16-year window we track, TWN has the edge at +18.97% annualized vs +13.38%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TWN has been the more volatile fund, with annualized monthly volatility of 26.1% compared with 14.1% for VOO. 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 -51.7% for TWN and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.62. They move together some of the time, and apart the rest.
Fees and Cost Over Time
TWN charges 0.96% per year while VOO charges 0.03%. On a $10,000 position that is $96 vs $3 annually, a gap of $93 per year that compounds over a long holding period. On income, TWN currently yields 6.18% against 1.04% for VOO.
Holdings Overlap
We hold position weights for 30 holdings in TWN and 494 in VOO, totalling 98.5% and 99.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 61 days apart, TWN as of May 31, 2026 and VOO as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 30 positions we hold weights for in TWN and 494 in VOO, against full books of 30 and 509.
What only one of them owns
Our book lists 487 positions for VOO that do not appear in our book for TWN (99.2% of the fund), and 0 for TWN that do not appear in VOO (0.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of TWN and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, TWN or VOO?
TWN has an expense ratio of 0.96% while VOO charges 0.03%. VOO is the cheaper option, by $93 a year on a $10,000 investment.
Which performed better, TWN or VOO?
Over the past year TWN returned +108.75% vs +17.03% for VOO, so TWN leads on 1-year performance. Over the longest common window we track (16 years), TWN annualized +18.97% vs +13.38% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TWN or VOO?
TWN has been the more volatile fund at 26.1% annualized versus 14.1% for VOO. Worst drawdown: TWN -51.7% vs VOO -34.3%.
Should I hold both TWN and VOO?
TWN and VOO have a monthly-return correlation of 0.62, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, TWN or VOO?
TWN yields 6.18% while VOO yields 1.04%, so TWN currently pays the higher dividend yield.
Is VOO better than TWN?
VOO has a lower expense ratio. TWN led over 1Y, 3Y, 5Y and the full window. VOO is less concentrated, with 37.6% of the fund in its ten largest positions against 73.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.