At a glance
FLTW charges 0.19% a year, below the 0.37% average of the 4 funds most like it (the 3rd cheapest of 5). It has $3.03B in assets, the 5th largest of that group; it paid 1.59% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +69.5% with distributions reinvested (S&P 500: +11.5%), the best of those 5 funds; over three years it returned +46.2% a year. At its worst it fell 26.2% in the 2020 crash (S&P 500: 33.7%) and 37.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 18 months after the lows. Its ten largest positions make up 54.1% of the fund, out of 133 in all.
The short version
Franklin FTSE Taiwan ETF (FLTW) is an index fund that tracks the FTSE Taiwan RIC Capped Index, about 133 large and mid-sized Taiwanese companies. Its expense ratio is 0.19% a year. The larger iShares MSCI Taiwan ETF (EWT) charges 0.59% and shares about 81% of FLTW's holdings. This is a concentrated bet on one country: Taiwan Semiconductor Manufacturing alone made up 19.8% of the fund as of June 30, 2026.
Price history
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FLTW +69.5% 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 | |
|---|---|---|---|---|---|---|
| FLTW official prospectus, to Dec 31, 2025 | — | +31.91% | — | +13.48% | — | +13.89% |
| FTSE Taiwan Index-NR index, same period | — | +39.95% | — | +16.85% | — | +17.51% |
| FTSE Taiwan Capped Index-NR index, same period | — | +32.08% | — | +13.64% | — | +14.06% |
| FLTW price data to Oct 27, 2026 | +69.9% | +69.5% | +46.2% | +21.7% | — | +19.3% |
- Over the year to Oct 27, 2026, FLTW returned +69.5%, 1st of 5 among similar funds.
- Its 5-year annualized return was +21.7%.
- In the 2020 COVID crash it fell 26.2% and regained its old high 2.7 months after the low.
- Its worst full calendar year was 2022 (-27.5%); its best was 2025 (+32.0%).
- The deepest fall in its price history was 38% (Jan 13, 2022 to Oct 24, 2022), recovered by Apr 9, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +70.0% | — |
| 2025 | +32.0% | +31.91% |
| 2024 | +16.7% | +17.29% |
| 2023 | +30.1% | +29.78% |
| 2022 | -27.5% | -27.74% |
| 2021 | +29.5% | +29.72% |
| 2020 | +29.8% | +30.41% |
| 2019 | +31.2% | +30.89% |
| 2018 | -9.3% | -8.93% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 23.4% over that stretch · deepest drop along the way 26.2%, back to its old high 2.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 35.9% over that stretch · deepest drop along the way 37%, back to its old high 17.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.1800 | |
| 2025 | $1.5300 | +70.0% |
| 2024 | $0.9000 | -23.1% |
| 2023 | $1.1700 | +13.0% |
| 2022 | $1.0350 | -3.3% |
| 2021 | $1.0700 | +35.4% |
| 2020 | $0.7900 | -9.2% |
| 2019 | $0.8700 | +262.5% |
| 2018 | $0.2400 |
What's inside
As of Jun 30, 2026, the fund held 133 securities; the ten largest made up 54.09% of assets.
| Holding | Weight | |
|---|---|---|
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | 19.84% | |
| MEDIATEK INC | 9.14% | |
| DELTA ELECTRONICS INC | 5.51% | |
| HON HAI PRECISION INDUSTRY COMPANY LTD | 4.48% | |
| ASE TECHNOLOGY HOLDING CO LTD | 3.30% | |
| UNITED MICROELECTRONICS CORP | 2.81% | |
| YAGEO CORP | 2.62% | |
| ELITE MATERIAL COMPANY LTD | 2.48% | |
| UNIMICRON TECHNOLOGY CORP | 2.07% | |
| CTBC FINANCIAL HOLDING CO LTD | 1.84% | |
| ACCTON TECHNOLOGY CORP | 1.81% | |
| FUBON FINANCIAL HOLDING COMPANY LTD | 1.58% | |
| QUANTA COMPUTER INC | 1.42% | |
| CATHAY FINANCIAL HOLDING COMPANY LTD | 1.37% | |
| NAN YA PLASTICS CORP | 1.20% |
By country
Taiwan 97.14%Cayman Islands 2.59%By asset type
Stocks 99.74%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $638.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +28.21%, +20.97%, +1.98%.
How it works
FLTW is a passive fund. It tries to match the FTSE Taiwan RIC Capped Index before fees. FTSE Russell builds that index from Taiwanese large- and mid-cap stocks. Each company is weighted by its free-float market value, meaning the value of shares available for public trading, so bigger companies get bigger weights. As of May 31, 2026, the index held 132 stocks.
The "capped" part matters. Each quarter, the index limits any one company to 25% of the index. Companies above 5% also can't add up to more than 50% combined. As of June 30, 2026, Taiwan Semiconductor Manufacturing was 19.8% of the fund, MediaTek was 9.1% and Delta Electronics was 5.5%. The cap spreads risk, but it has cost returns. Through December 31, 2025, the uncapped FTSE Taiwan Index returned 16.85% a year over five years, compared with 13.64% for the capped version.
The fund keeps at least 80% of its assets in index stocks or depositary receipts. It may own every stock in the index or a representative sample. It may use futures, swaps and currency contracts to manage cash and trading. As of June 30, 2026, it held no derivatives. Turnover was 57%, meaning the fund replaced a little over half its holdings during the year. The index is concentrated in semiconductors and electronic components, and the fund could become "non-diversified" if a few stocks grow large.
What it really costs
- FLTW charges 0.19% a year, versus an average of 0.37% for the similar funds below (3rd of 5, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $19 in the first year and $241 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| FLTW | $19 | $60 | $105 | $241 |
In a retirement portfolio
It is a low-cost but concentrated, volatile bet on one country's technology stocks, so it fits as a small add-on rather than a foundation.
FLTW could add focused exposure to Taiwan's chip and electronics companies, at a low cost of 0.19% a year. In the SEC's standard example, that comes to $19 in the first year on a $10,000 investment. The fund launched in 2017, so it has no record from 2008. It fell 26.2% in the 2020 COVID crash but recovered in about 2.7 months. The 2022 bear market hit harder. The fund dropped 38% between January 13 and October 24, 2022, and didn't recover until April 9, 2024. Its worst calendar year was 2022, at −27.74%. Anyone who had to sell shares in late 2022 would have locked in deep losses. Income is modest: the trailing yield was 1.59% as of October 27, 2026, paid twice a year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want cheap Taiwan exposure: 0.19% a year, compared with 0.59% for the iShares MSCI Taiwan ETF, which holds about 81% of the same stocks.
- Investors comfortable with heavy chip exposure, led by Taiwan Semiconductor Manufacturing at 19.8% and MediaTek at 9.1% as of June 30, 2026.
- Holders of a small satellite position who could sit through drops like the 38% fall in 2022, which took about 17.5 months to recover.
Look elsewhere if
- Investors who want broad emerging-markets exposure. Vanguard FTSE Emerging Markets ETF (0.07%) and iShares Core MSCI Emerging Markets ETF (0.09%) cost less and spread risk wider.
- Retirees who need steady income: the trailing yield was 1.59% as of October 27, 2026, and the fund pays only twice a year.
- Anyone uneasy about single-country political risk, including Taiwan's complex relationship with China, which the prospectus lists as a principal risk.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| FLTW this fund | — | 0.19% | $3.03B | +69.5% | +46.2% |
| EWT iShares MSCI Taiwan ETF | 81% | 0.59% | $11.76B | +67.5% | +42.5% |
| AAXJ iShares MSCI All Country Asia ex-Japan ETF | 29% | 0.72% | $3.72B | +15.1% | +23.3% |
| VWO Vanguard FTSE Emerging Markets ETF | 28% | 0.07% | $162.04B | +3.3% | +16.8% |
| IEMG iShares Core MSCI Emerging Markets ETF | 25% | 0.09% | $160.90B | +11.7% | +19.8% |
Questions investors ask
What's the difference between FLTW and EWT?
Both funds hold Taiwanese stocks, and about 81% of their holdings overlap. FLTW tracks a FTSE Russell index and charges 0.19% a year. The iShares MSCI Taiwan ETF (EWT) tracks an MSCI index and charges 0.59%. EWT is much larger, with $11.8 billion in net assets as of August 31, 2026, compared with $3.0 billion for FLTW as of June 30, 2026. As of October 27, 2026, FLTW returned 69.5% over one year, compared with 67.5% for EWT.
Does FLTW pay dividends?
Yes. FLTW pays dividends twice a year. Over the 12 months through October 27, 2026, it paid $1.64 per share, a trailing yield of 1.59%. That's a modest yield, because most of the fund is in technology companies that return less cash to shareholders. Payments come from Taiwanese companies, so the amount can change from year to year with company profits and currency moves.
How much of FLTW is TSMC?
Taiwan Semiconductor Manufacturing was 19.8% of FLTW as of June 30, 2026, its largest holding by far. The index caps any single company at 25%. Companies above 5% also can't make up more than 50% combined. MediaTek (9.1%) and Delta Electronics (5.5%) were next. The 10 largest holdings made up 54.1% of the fund, so a handful of chip and electronics companies drive most of its results.
Is FLTW too risky for retirement?
FLTW is riskier than a broad stock fund, so it usually plays a small supporting role rather than a core one. Its volatility over the year through October 27, 2026 was 32.9%. Volatility measures how widely returns swing. The fund lost 38% between January and October 2022, and it took until April 2024 to recover. It holds one country and is concentrated in semiconductors, which adds both political and industry risk.
What is FLTW's average annual return?
As of December 31, 2025, FLTW returned 13.89% a year on average since it launched on November 2, 2017. It returned 13.48% a year over five years and 31.91% over one year. Those are SEC-standard figures from the prospectus. Results have swung widely, from a 27.74% loss in 2022 to a 31.91% gain in 2025. Based on price, the fund was up 69.95% for the year through October 27, 2026.