TWN vs FMAT

Comparison between Taiwan Fund Inc (TWN, ETF) and FIDELITY MSCI MATERIALS INDEX ETF (FMAT, ETF).

5-Year PerformanceTWN has outperformed FMAT, delivering a return of +32.6% compared to +5.3%

TWN vs FMAT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	TWN(ETF)	FMAT(ETF)
Net Assets	$603M	$603M
Expense Ratio	N/A	0.08%
Max Drawdown	71.62%	43.86%
Sharpe Ratio	3.54	0.86
5Y Beta	0.87	0.86
P/E Ratio	N/A	32.30
Forward P/E	N/A	17.99
5Y Dividends CAGR	13.36%	4.45%
5Y EPS CAGR	N/A	19.31%
Debt to Equity	N/A	50.45%
P/S Ratio	N/A	2.11
P/B Ratio	N/A	3.09

Net Assets

TWN

$603M

Winner

FMAT

$603M

Expense Ratio

TWN

N/A

FMAT

0.08%

Max Drawdown

TWN

71.62%

Winner

FMAT

43.86%

Sharpe Ratio

Winner

TWN

3.54

FMAT

0.86

5Y Beta

TWN

0.87

Winner

FMAT

0.86

P/E Ratio

TWN

N/A

FMAT

32.30

Forward P/E

TWN

N/A

FMAT

17.99

5Y Dividends CAGR

Winner

TWN

13.36%

FMAT

4.45%

5Y EPS CAGR

TWN

N/A

FMAT

19.31%

Debt to Equity

TWN

N/A

FMAT

50.45%

P/S Ratio

TWN

N/A

FMAT

2.11

P/B Ratio

TWN

N/A

FMAT

3.09

TWN vs FMAT - Historical Returns

Returns include dividend reinvestment.

Period	TWN	FMAT
1 month	-4.60%	-1.80%
3 months	+51.83%	-1.13%
6 months	+83.52%	+13.82%
1 year	+164.04%	+19.36%
5 years(CAGR)	+32.60%	+5.25%
10 years(CAGR)	+28.85%	+9.96%
Max(CAGR)	+10.99%	+8.82%

TWN

-4.60%

Winner

FMAT

-1.80%

Winner

TWN

+51.83%

FMAT

-1.13%

Winner

TWN

+83.52%

FMAT

+13.82%

Winner

TWN

+164.04%

FMAT

+19.36%

5Y(CAGR)

Winner

TWN

+32.60%

FMAT

+5.25%

10Y(CAGR)

Winner

TWN

+28.85%

FMAT

+9.96%

Max(CAGR)

Winner

TWN

+10.99%

FMAT

+8.82%

TWN vs FMAT - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	TWN	FMAT
2026	+68.84%	+8.38%
2025	+54.22%	+13.29%
2024	+35.45%	+0.84%
2023	+51.64%	+13.85%
2022	-40.37%	-10.66%
2021	+55.56%	+28.83%
2020	+36.34%	+20.79%
2019	+48.10%	+22.83%
2018	-19.52%	-18.83%
2017	+32.76%	+22.61%
2016	+11.50%	+23.44%
2015	-8.90%	-10.02%
2014	-0.30%	+6.47%
2013	+16.46%	+5.12%
2012	+12.23%	N/A
2011	-23.34%	N/A
2010	+31.46%	N/A
2009	+52.57%	N/A
2008	-45.73%	N/A
2007	+12.03%	N/A
2006	+19.43%	N/A
2005	+14.40%	N/A
2004	+7.28%	N/A
2003	+30.77%	N/A
2002	-26.97%	N/A
2001	+10.64%	N/A
2000	-49.79%	N/A
1999	+13.98%	N/A

TWN vs FMAT Drawdown Comparison

The maximum drawdown for TWN was -71.07%, occurring on Sep 20, 2001. Recovery took 2057 trading sessions.

The maximum drawdown for FMAT was -41.08%, occurring on Mar 23, 2020. Recovery took 654 trading sessions.

The current TWN drawdown is -9.29%. The current FMAT drawdown is -6.44%.

Rank	TWN	FMAT
#1	-71.07% Feb 8, 2000 - Apr 16, 2008	-41.08% Jan 26, 2018 - Sep 1, 2020
#2	-64.47% Apr 16, 2008 - May 8, 2014	-27.23% Feb 24, 2015 - Nov 15, 2016
#3	-51.72% Jan 3, 2022 - Feb 12, 2024	-25.40% Apr 20, 2022 - Feb 29, 2024
#4	-36.26% Jan 17, 2020 - Jul 2, 2020	-23.17% Oct 18, 2024 - Dec 26, 2025
#5	-29.83% Jan 6, 2025 - Jun 9, 2025	-13.47% Feb 27, 2026 - Mar 20, 2026
#6	-27.91% Jan 25, 2018 - Oct 17, 2019	-12.14% Sep 5, 2014 - Feb 12, 2015
#7	-27.43% May 11, 2015 - Mar 29, 2017	-10.68% Jan 4, 2022 - Mar 25, 2022
#8	-17.72% Jul 10, 2024 - Oct 22, 2024	-10.63% May 17, 2021 - Nov 8, 2021
#9	-15.08% Jul 3, 2014 - May 11, 2015	-9.11% Jan 12, 2021 - Mar 10, 2021
#10	-13.79% May 7, 2021 - Jun 1, 2021	-7.81% Sep 17, 2020 - Oct 9, 2020
#11	-12.57% Jul 14, 2021 - Nov 9, 2021	-7.72% Nov 12, 2021 - Dec 29, 2021
#12	-9.61% Mar 7, 2024 - Jun 12, 2024	-6.81% Apr 9, 2024 - Jul 31, 2024
#13	-9.29% Jun 1, 2026 - Jun 5, 2026	-6.69% Dec 31, 2013 - Feb 14, 2014
#14	-9.09% Oct 29, 2025 - Dec 9, 2025	-6.65% Oct 12, 2020 - Nov 3, 2020
#15	-9.07% May 6, 2026 - May 26, 2026	-6.57% Jul 31, 2024 - Aug 26, 2024

Correlation

Correlation between TWN and FMAT is 0.85 which considered as a strong positive correlation - the stocks tend to move together.

0.85

-101

Dividend Comparison (2000 - 2026)

TWN vs FMAT dividend yield comparison.

Year	TWN	FMAT
2026	0.00%	0.34%
2025	11.62%	1.64%
2024	19.14%	1.68%
2023	1.26%	1.71%
2022	0.00%	2.00%
2021	7.78%	1.44%
2020	12.91%	1.73%
2019	8.26%	1.89%
2018	11.27%	2.18%
2017	3.16%	1.53%
2016	0.00%	1.78%
2015	0.00%	2.16%
2014	16.11%	1.65%
2013	0.00%	0.39%
2011	3.87%	0.00%
2010	0.42%	0.00%
2009	0.49%	0.00%
2008	1.86%	0.00%
2007	18.04%	0.00%
2005	0.35%	0.00%
2004	0.23%	0.00%
2000	1.96%	0.00%