What Is the EWT ETF? Returns, Expense Ratio, Holdings, and Alternative ETFs Explained
An introduction to the iShares MSCI Taiwan ETF (EWT), which tracks the Taiwanese stock market. Semiconductor weighting and single-country concentration are the key selection criteria, and its deep liquidity and broad asset base are strengths among Taiwan single-country ETFs. Investors should check dividends, currency exposure, and geopolitical risk before investing.
SubscribeWhat Is the iShares MSCI Taiwan ETF?
This is a single-country ETF that tracks the MSCI Taiwan 25/50 Index and holds large- and mid-cap Taiwanese stocks on a market-capitalization-weighted basis. It directly reflects Taiwan's industrial structure, which is centered on semiconductors.
It suits investors who want concentrated exposure to the Taiwanese economy and the semiconductor value chain, and it is recommended for long-term investors who can tolerate single-country volatility.
It is a passive (index-tracking) ETF managed by BlackRock (iShares).
How Does the iShares MSCI Taiwan ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | MSCI Taiwan 25/50 Index |
| Management Style | Passive (index-tracking) |
| Rebalancing Frequency | Quarterly |
| Dividend Frequency | Semiannual |
| Issuer | BlackRock (iShares) |
| Expense Ratio | 0.59% |
The fund holds the constituents of the MSCI Taiwan 25/50 Index in proportion to their market capitalization, tracking the overall performance of the Taiwanese stock market. It applies a capping method that limits the weight of single stocks and top groups, and rebalancing is carried out quarterly in line with the index rules.
- Deep liquidity for Taiwan equity exposure
- Reflects a semiconductor-centered industrial structure
iShares MSCI Taiwan ETF Size and Costs (AUM and Management Fees)
Assets under management (AUM) stand at $11.4B, and the expense ratio is 0.59% per year.
It holds a comparative advantage in liquidity and asset size over peer single-country emerging market ETFs.
iShares MSCI Taiwan ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeThe fund has moved closely with the semiconductor cycle and the global tech stock cycle, and its short-term movements are often influenced by the earnings of key Taiwanese companies, exchange rates, and geopolitical issues. Volatility can widen at certain points in time.
Fund flows continue in and out depending on demand for the semiconductor theme and emerging market allocation, and inflows can be especially pronounced when global tech stocks are in favor. As is typical of a single-country ETF, fund flows react sensitively to changes in the macro environment.
iShares MSCI Taiwan ETF Strengths and Weaknesses
Taiwan semiconductor exposure and liquidity are its strengths, while single-country concentration and a top-heavy portfolio can work against it.
💪 Key Strengths
⚠️ Points of Caution
Alternative ETFs and Related Products to the iShares MSCI Taiwan ETF
Comparable ETFs in the same emerging market single-country and regional category, as shown in the comparison table, include India (INDA), China (MCHI, FXI), and Brazil (EWZ) ETFs, each of which offers exposure to a different emerging economy. For more focused Taiwan exposure, you can also consider FLTW, a lower-cost direct substitute that tracks the same Taiwanese stock market. To diversify across the broader emerging markets, a wide emerging market ETF such as EEM is also an option.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 EWZ | iShares MSCI Brazil ETF | $34.15 | -19.8% | $14.0B | 0.59% | 3.97% | +12.4% |
 INDA | iShares MSCI India ETF | $46.59 | +0.3% | $5.7B | 0.61% | - | -14.5% |
 MCHI | iShares MSCI China ETF | $49.12 | +0.2% | $5.5B | 0.59% | 2.23% | -23.9% |
 FLTW | Franklin FTSE Taiwan ETF | $101.63 | +0.7% | $4.7B | 0.19% | 1.61% | +64.4% |
 FXI | iShares China Large-Cap ETF | $32.51 | +0.6% | $3.7B | 0.74% | 2.09% | -19.8% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| TSM | Taiwan Semiconductor Manufacturing ADR | 0.62% | $424.37 | +1.4% | $2.20T | 27.3 | 0.97% |
| ASX | ASE Technology Holding CoLtd ADR | 0.08% | $39.91 | +3.1% | $87.8B | 46.7 | 1.56% |
| CHT | Chunghwa Telecom ADR | 0.02% | $48.14 | -0.8% | $37.3B | 29.4 | 3.43% |
 THFF | First Financial Corp | 0.01% | $76.46 | -0.3% | $909.1M | 10.7 | 2.94% |
iShares MSCI Taiwan ETF Investor Checkpoints
Here are the points to review before investing in EWT. Taiwan semiconductor exposure is the core appeal, but single-country concentration, top-holding concentration, currency exposure, and geopolitical risk deserve thorough review before you invest.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the cumulative effect over a long holding period | Annual fee applies |
| 📊 Top-Holding Concentration | Trend in the weight of core semiconductor stocks | Relatively heavy weighting |
| 🌏 Single-Country Risk | Check exposure to Taiwan's macro and policy conditions | Concentrated exposure |
| 💱 Currency | Impact on returns converted into Korean won | Unhedged |
Single-country concentration and dependence on the semiconductor cycle are the main drivers of short-term volatility. When geopolitical tensions escalate, short-term losses can widen, so position sizing is important.
It is an efficient choice for investors who want concentrated exposure to the Taiwanese stock market and the semiconductor value chain. ETFs such as FLTW for lower fees, or EEM for diversification across emerging markets, can serve as alternatives.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 21, 2026.
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