GBTC vs EWT

Comparison between Grayscale Investments LLC (GBTC, ETF) and ISHARES MSCI TAIWAN ETF (EWT, ETF).

5-Year PerformanceEWT has outperformed GBTC, delivering a return of +17.5% compared to +9.8%

GBTC vs EWT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GBTC(ETF)	EWT(ETF)
Net Assets	$11B	$11B
Expense Ratio	1.50%	0.59%
Max Drawdown	89.91%	66.98%
Sharpe Ratio	-0.97	2.55
5Y Beta	1.28	1.14
5Y Dividends CAGR	N/A	17.83%

Net Assets

GBTC

$11B

Winner

EWT

$11B

Expense Ratio

GBTC

1.50%

Winner

EWT

0.59%

Max Drawdown

GBTC

89.91%

Winner

EWT

66.98%

Sharpe Ratio

GBTC

-0.97

Winner

EWT

2.55

5Y Beta

GBTC

1.28

Winner

EWT

1.14

5Y Dividends CAGR

GBTC

N/A

EWT

17.83%

GBTC vs EWT - Historical Returns

Returns include dividend reinvestment.

Period	GBTC	EWT
1 month	-22.74%	+4.88%
3 months	-10.50%	+42.45%
6 months	-33.89%	+60.44%
1 year	-43.81%	+92.73%
5 years(CAGR)	+9.85%	+17.49%
10 years(CAGR)	+47.89%	+19.09%
Max(CAGR)	+53.55%	+7.07%

GBTC

-22.74%

Winner

EWT

+4.88%

GBTC

-10.50%

Winner

EWT

+42.45%

GBTC

-33.89%

Winner

EWT

+60.44%

GBTC

-43.81%

Winner

EWT

+92.73%

5Y(CAGR)

GBTC

+9.85%

Winner

EWT

+17.49%

10Y(CAGR)

Winner

GBTC

+47.89%

EWT

+19.09%

Max(CAGR)

Winner

GBTC

+53.55%

EWT

+7.07%

GBTC vs EWT - Annual Returns (2000 - 2026)

Returns include dividend reinvestment.

Year	GBTC	EWT
2026	-31.37%	+55.63%
2025	-11.46%	+29.45%
2024	+100.87%	+18.86%
2023	+322.20%	+23.87%
2022	-75.81%	-29.44%
2021	-2.37%	+24.57%
2020	+301.00%	+29.83%
2019	+77.27%	+34.78%
2018	-84.05%	-11.37%
2017	+1558.98%	+25.27%
2016	+90.08%	+21.43%
2015	+50.01%	-11.88%
2014	N/A	+9.67%
2013	N/A	+6.29%
2012	N/A	+17.35%
2011	N/A	-22.42%
2010	N/A	+19.35%
2009	N/A	+69.07%
2008	N/A	-43.19%
2007	N/A	+4.75%
2006	N/A	+14.69%
2005	N/A	+6.29%
2004	N/A	+4.14%
2003	N/A	+35.85%
2002	N/A	-26.24%
2001	N/A	+1.41%
2000	N/A	-42.87%

GBTC vs EWT Drawdown Comparison

The maximum drawdown for GBTC was -89.91%, occurring on Dec 14, 2018. Recovery took 766 trading sessions.

The maximum drawdown for EWT was -64.35%, occurring on Oct 7, 2002. Recovery took 1831 trading sessions.

The current GBTC drawdown is -51.09%. The current EWT drawdown is -5.89%.

Rank	GBTC	EWT
#1	-89.91% Dec 18, 2017 - Jan 5, 2021	-64.35% Jul 17, 2000 - Oct 29, 2007
#2	-86.24% Feb 19, 2021 - Mar 4, 2024	-62.92% Oct 29, 2007 - Jan 26, 2011
#3	-57.96% May 5, 2015 - Dec 8, 2015	-38.88% Jan 4, 2022 - Jun 14, 2024
#4	-52.45% Oct 6, 2025 - Jun 5, 2026	-31.35% Apr 27, 2015 - Feb 10, 2017
#5	-48.42% Aug 31, 2017 - Nov 3, 2017	-29.49% Jan 13, 2020 - Jul 6, 2020
#6	-41.48% Jun 17, 2016 - Jan 3, 2017	-29.06% Feb 7, 2011 - Apr 17, 2014
#7	-36.93% Dec 15, 2015 - Apr 21, 2016	-25.65% Jul 10, 2024 - Jun 10, 2025
#8	-36.68% Jun 6, 2017 - Aug 10, 2017	-20.51% Jan 22, 2018 - Oct 17, 2019
#9	-35.04% Mar 13, 2024 - Nov 11, 2024	-12.98% Apr 29, 2021 - Sep 3, 2021
#10	-30.26% Jan 7, 2021 - Feb 8, 2021	-11.12% Aug 27, 2014 - Apr 23, 2015
#11	-28.76% Jan 4, 2017 - May 1, 2017	-10.51% Feb 25, 2026 - Apr 13, 2026
#12	-28.45% Dec 17, 2024 - May 21, 2025	-8.43% Jun 2, 2026 - Jun 5, 2026
#13	-19.31% May 9, 2017 - May 22, 2017	-8.16% Sep 3, 2021 - Nov 17, 2021
#14	-18.18% May 9, 2016 - May 31, 2016	-8.12% Oct 29, 2025 - Jan 2, 2026
#15	-15.79% Nov 3, 2017 - Nov 20, 2017	-7.53% May 11, 2026 - May 26, 2026

Correlation

Correlation between GBTC and EWT is 0.80 which considered as a strong positive correlation - the stocks tend to move together.

0.80

-101

Dividend Comparison (2000 - 2025)

GBTC vs EWT dividend yield comparison.

Year	GBTC	EWT
2025	0.00%	4.43%
2024	0.00%	3.32%
2023	0.00%	8.12%
2022	0.00%	18.82%
2021	0.00%	0.55%
2020	0.00%	1.83%
2019	0.00%	2.49%
2018	0.00%	3.16%
2017	5.61%	2.81%
2016	0.00%	2.39%
2015	0.00%	3.12%
2014	0.00%	1.93%
2013	0.00%	1.82%
2012	0.00%	1.99%
2011	0.00%	4.04%
2010	0.00%	1.86%
2009	0.00%	1.60%
2008	0.00%	7.93%
2007	0.00%	2.60%
2006	0.00%	2.08%
2005	0.00%	1.09%
2004	0.00%	0.66%
2003	0.00%	0.19%
2000	0.00%	8.12%