Fund flows in FTW, like EWT, remain modest year to date (+$5 million). EWT being market cap-weighted, has notable holdings differences among its top five positions compared to FWT (which employs the quantitatively based AlphaDEX methodology in a modified equal-weight process).
EWT can be sensitive to its overall weighting in Taiwan Semiconductor (>19.7% of the portfolio), with the company not slated to report quarterly earnings again until 10/15/14. Other top five holdings in EWT are Hon Hai Precision (>7.6%), MediaTek Inc. (>4.4%), Cathay Financial Holding (>2.7%), and Delta Electronics Inc. (2.5%), and FTW in comparison looks like the following: (AU Optronics Corp. (>4.5%), Far Eastern New Century Corp.
(>4.4%), Nanya Technology Corp. (>4.3%), Innolux Corp. (>4.3%), and Largan Precision Co. (>4.1%).
iShares MSCI Taiwan ETF
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