With Taiwan Semiconductor down more than 6% over the past month, EWT has fallen by nearly 3% over the same period. The MSCI Emerging Markets Index, which allocates almost 12% of its weight to Taiwanese stocks, is higher by 6% over the past month.
Year-to-date, the $4 billion EWT has mustered a 3.8% gain, but underscoring just how much Taiwan Semiconductor has dragged on the Taiwan ETF, EWT’s gain to this point in the year is paltry compared to the 10.4% gained by the iShares MSCI South Korea Capped ETF (NYSEArca: EWY), another tech-heavy, low beta emerging markets country-specific ETF.
iShares MSCI Taiwan ETF
Tom Lydon’s clients own shares of Apple.