At a glance
EWT charges 0.59% a year, above the 0.29% average of the 3 funds most like it (the 3rd cheapest of 4). It has $11.76B in assets, the 3rd largest of that group; it paid 2.63% of its price in distributions over the past 12 months, annual. Over the past year it returned +67.5% with distributions reinvested (S&P 500: +11.5%), the best of those 4 funds; over three years it returned +42.5% a year. At its worst it fell 26.8% in the 2020 crash (S&P 500: 33.7%) and 37.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 20 months after the lows. Its ten largest positions make up 47.0% of the fund, out of 80 in all.
The short version
iShares MSCI Taiwan ETF (EWT) is a BlackRock index fund that tracks the MSCI Taiwan 25/50 Index, holding about 80 large and mid-sized Taiwanese companies. It is a concentrated bet on one market: Taiwan Semiconductor Manufacturing alone made up 20.3% of the fund as of August 31, 2026. Its 0.59% expense ratio is well above broad emerging-markets funds such as VWO (0.07%), which also own Taiwanese stocks.
Price history
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EWT +67.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| EWT official prospectus, to Dec 31, 2024 | — | +16.79% | — | +12.81% | +10.95% | — |
| MSCI Emerging Markets Index Net index, same period | — | +7.50% | — | +1.70% | +3.64% | — |
| EWT price data to Oct 27, 2026 | +68.8% | +67.5% | +42.5% | +18.8% | +18.5% | +10.9% |
- Over the year to Oct 27, 2026, EWT returned +67.5%, 1st of 4 among similar funds.
- Its 5-year annualized return was +18.8% and its 10-year +18.5%.
- In the 2020 COVID crash it fell 26.8% and regained its old high 2.7 months after the low.
- Its worst full calendar year was 2008 (-45.2%); its best was 2009 (+73.8%).
- The deepest fall in its price history was 62.9% (Oct 29, 2007 to Nov 20, 2008), recovered by Jan 26, 2011.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +68.8% | — |
| 2025 | +28.4% | — |
| 2024 | +16.1% | +16.79% |
| 2023 | +24.5% | +29.15% |
| 2022 | -28.8% | -28.75% |
| 2021 | +26.3% | +28.38% |
| 2020 | +31.7% | +32.41% |
| 2019 | +33.3% | +32.47% |
| 2018 | -9.9% | -9.60% |
| 2017 | +26.9% | +25.51% |
| 2016 | +17.7% | +17.34% |
| 2015 | -12.9% | -12.28% |
| 2014 | +6.8% | — |
| 2013 | +7.8% | — |
| 2012 | +18.6% | — |
| 2011 | -23.5% | — |
| 2010 | +22.8% | — |
| 2009 | +73.8% | — |
| 2008 | -45.2% | — |
| 2007 | +6.3% | — |
| 2006 | +18.7% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 55.8% over that stretch · deepest drop along the way 62.9%, back to its old high 26.2 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 24.1% over that stretch · deepest drop along the way 26.8%, back to its old high 2.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 37% over that stretch · deepest drop along the way 37.9%, back to its old high 20.1 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $2.8200 | +64.0% |
| 2024 | $1.7200 | -54.0% |
| 2023 | $3.7400 | -50.5% |
| 2022 | $7.5600 | +1733.2% |
| 2021 | $0.4124 | -59.9% |
| 2020 | $1.0291 | +0.9% |
| 2019 | $1.0200 | +2.0% |
| 2018 | $1.0000 | -2.0% |
| 2017 | $1.0200 | +45.7% |
| 2016 | $0.7000 | -12.5% |
| 2015 | $0.8000 | +37.9% |
| 2014 | $0.5800 | +11.5% |
| 2013 | $0.5200 | -3.7% |
| 2012 | $0.5400 | +14.9% |
| 2011 | $0.4700 | -19.0% |
| 2010 | $0.5800 | +38.1% |
| 2009 | $0.4200 | -65.0% |
| 2008 | $1.2000 | +53.8% |
| 2007 | $0.7800 | +30.0% |
| 2006 | $0.6000 |
What's inside
As of Aug 31, 2026, the fund held 80 securities; the ten largest made up 46.98% of assets. It also reported 6.3% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited | 20.31% | |
| MediaTek Inc. | 6.05% | |
| DELTA ELECTRONICS, INC. | 3.97% | |
| HON HAI PRECISION INDUSTRY CO., LTD. | 3.35% | |
| ASE Technology Holding Co., Ltd. | 2.62% | |
| ELITE MATERIAL CO., LTD. | 2.40% | |
| NAN YA PLASTICS CORPORATION | 2.22% | |
| UNIMICRON TECHNOLOGY CORP. | 2.20% | |
| United Microelectronics Corporation | 1.94% | |
| Asia Vital Components Co., Ltd. | 1.91% | |
| KING SLIDE WORKS CO.,LTD | 1.84% | |
| Fubon Financial Holding Co., Ltd. | 1.67% | |
| ACCTON TECHNOLOGY CORPORATION | 1.62% | |
| Wiwynn Corporation | 1.58% | |
| YAGEO CORPORATION | 1.51% |
By country
Taiwan 96.58%Cayman Islands 3.23%By asset type
Stocks 99.49%Other 0.32%What changed recently
- Over the three months to Aug 31, 2026, investors added a net $284.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +6.15%, -11.97%, +13.38%.
How it works
EWT tracks the MSCI Taiwan 25/50 Index, built by MSCI Inc. The index covers large and mid-sized Taiwanese companies. It weights them by free-float market value, which counts only the shares readily available to trade and leaves out large stakes held by insiders or governments. Bigger companies get bigger weights. The index is rebalanced quarterly. An optimization process keeps it as close as possible to the broader MSCI Taiwan Index.
The "25/50" in the name refers to two caps. No single group entity (companies under common control) can exceed 25% of the index. All group entities above 5%, added together, can't exceed 50%. MSCI reviews these groupings once a year. The caps matter for a market where one chipmaker is so large.
BlackRock uses representative sampling: it holds a set of stocks that together resemble the index, not necessarily every one. At least 80% of assets go into index stocks or near-identical securities. Up to 20% can go into futures, options, swaps, cash, or stocks outside the index. As of August 31, 2026, the fund held a small FTSE Taiwan index futures position. It may lend out up to one-third of its assets. It also handles creations and redemptions in cash rather than in shares. That can force it to sell stocks and realize taxable gains that in-kind ETFs often avoid.
What it really costs
- EWT charges 0.59% a year, versus an average of 0.29% for the similar funds below (3rd of 4, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $60 in the first year and $738 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| EWT | $60 | $189 | $329 | $738 |
In a retirement portfolio
It is a single-country fund with a fifth of its assets in one company and a history of deep drops, so it fits as a small add-on rather than a foundation.
EWT could add focused exposure to Taiwan's chipmakers and electronics companies. Broad emerging-markets funds also own these stocks, but in smaller amounts. The price of that focus is steep swings. EWT fell 62.9% from October 2007 to November 2008 and didn't regain its peak until January 2011. It dropped 26.8% in the 2020 COVID crash and recovered in under three months. In 2022 it fell 37.9% and took until June 2024 to recover. Its worst calendar year was 2008, when it lost 45.2%. Selling shares to cover expenses during a stretch like that would lock in deep losses.
The fund pays income once a year, with a trailing yield of 2.63% as of October 27, 2026. Its 0.59% expense ratio is roughly double the 0.29% peer average. Past results don't predict future ones, and a plan should weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want targeted exposure to Taiwan's chip and electronics makers, led by TSMC at 20.3% of assets as of August 31, 2026.
- Those holding a small satellite position who can sit through drops like the fund's 37.9% fall in 2022 without needing to sell.
- Investors who already own broad international funds and want to add more Taiwan on purpose, accepting a 0.59% expense ratio.
Look elsewhere if
- Cost-focused investors: VWO (0.07%) and IEMG (0.09%) hold Taiwanese stocks inside broader emerging-markets portfolios for far less.
- Retirees who rely on steady, frequent income, since EWT pays once a year, with a 2.63% trailing yield as of October 27, 2026.
- Anyone uneasy about single-country risk. The prospectus flags China's territorial dispute over Taiwan and the economy's reliance on exports.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
What does EWT invest in?
EWT holds about 80 large and mid-sized Taiwanese stocks and tracks the MSCI Taiwan 25/50 Index. As of August 31, 2026, Taiwan Semiconductor Manufacturing was 20.3% of the fund. MediaTek was 6.1%, Delta Electronics 4.0%, Hon Hai Precision 3.4% and ASE Technology 2.6%. The 10 largest holdings made up about 47% of assets, so a handful of tech companies drive much of the fund's results.
Does EWT pay dividends?
Yes, but only once a year. Over the 12 months ending October 27, 2026, EWT paid $2.82 per share, a trailing yield of 2.63%. Dividends come from the Taiwanese companies the fund owns, so the amount can change from year to year with company profits and with the exchange rate between Taiwan's currency and the US dollar.
What is EWT's expense ratio?
EWT's expense ratio is 0.59%, according to its prospectus filed December 19, 2025. In the SEC's standard example, with $10,000 invested and a 5% yearly return, that comes to about $60 after one year, $329 after five years and $738 after 10 years. That's well above the 0.29% average for similar funds. Broad emerging-markets funds VWO and IEMG charge 0.07% and 0.09%.
EWT vs AAXJ: what's the difference?
EWT owns only Taiwanese stocks. The iShares MSCI All Country Asia ex-Japan ETF (AAXJ) spreads across many Asian markets. The two share about 30% of their holdings, the most of any similar fund. AAXJ costs more, at 0.72% versus EWT's 0.59%. EWT's concentration has paid off lately: it returned 67.5% over the year to October 27, 2026, against 15.1% for AAXJ. But it carries far more single-country risk.
How has EWT performed over the long term?
It has delivered strong returns, but with deep drops along the way. Through December 31, 2024, EWT returned 10.95% a year over 10 years, compared with 3.64% for the MSCI Emerging Markets Index. It fell 28.75% in 2022 and lost 62.9% from its 2007 peak to its 2008 low. After that drop, it took until January 2011 to get back to its old high.