Morningstar - Q2 2021 - 73

Performance Clocks The length of each line is proportional to

COUNTRY INDEX SPOTLIGHT

the monthly total return of each index in U.S. dollars. The clocks
track the trailing 12 months.
Monthly Return (%):

0%

26%

■ Positive  ■ Negative

2021 

2020

Taiwan The Morningstar Taiwan Index is one of the past year's
winners, driven by surging semiconductor names. Most notable:
a hefty stake in Taiwan Semiconductor Manufacturing TSM.

Morningstar US Market TR USD 03/31/2021
11

12

11/2021

10

2
3

9
8
7

6

5

44/
2020

01/2021 0.59

04/2020 13.21 07/2020 5.76

10/2020 2.21

02/2021 2.99

05/2020 5.37

08/2020 7.23

11/2020 11.97

03/2021 3.55

06/2020 2.26

09/2020 3.67

12/2020 4.32

12

10

2

9

3
8
7

6

5

44/
2020

12

01/2021 0.37

04/2020 6.22

07/2020 2.06

10/2020 4.44

02/2021 3.88

05/2020 1.21

08/2020 4.31

11/2020 16.70

03/2021 2.51

06/2020 1.24

09/2020 5.08

12/2020 6.17

2

01/2021 1.74

04/2020 6.64

07/2020 4.10

10/2020 6.32

3

02/2021 3.55

05/2020 6.77

08/2020 4.80

11/2020 20.25

44/
2020

03/2021 2.98

06/2020 5.80

09/2020 3.53

12/2020 4.66

9
8
7

6

5

5.1%

GNI per capita (2019)

$26,528

Morningstar Taiwan Index

Number of Constituents
Assets in Top 10

50.51%

Trailing 1-Year Return

87.50%

1-Yr Standard Deviation

Inflation (2020)

1.4%

1-Yr Sharpe Ratio

Life Expectancy (2019)

80.9

1-Yr Max. Drawdown

12

15

6

10
Morningstar Asia

01/2021 3.36

04/2020 9.58

07/2020 8.27

10/2020 2.83

3

02/2021 1.84

05/2020 0.21

08/2020 3.76

11/2020 8.86

44/
2020

03/2021 2.14

06/2020 8.32

09/2020 1.97

12/2020 6.79

9

7

5

12

Taiwan Semiconductor Manufacturing 2330

2

9

3
8
7

6

5

44/
2020

11

2

9
8
7

6

5

Weight (%)

Trailing 1-Year
Return (%)

33.16

130.93

04/2020 5.44

07/2020 1.92

10/2020 1.91

MediaTek 2454

4.12

216.99

02/2021 1.31

05/2020 6.25

08/2020 7.85

11/2020 11.49

Hon Hai Precision Industry 2317

4.04

94.39

03/2021 1.51

06/2020 0.29

09/2020 1.49

12/2020 4.10

United Microelectronics 2303

1.81

296.03

Delta Electronics 2308

1.56

157.71

Formosa Plastics 1301

1.24

48.75

Chunghwa Telecom 2412

1.20

14.10

10/2020 0.07

Nan Ya Plastics 1303

1.18

58.88

11/2021

10

5
04/2020

01/2021 1.05

Morningstar Australia Index GR USD 03/31/2021
12

04/2019

Company

11/2021

10

04/2018

Top 10 Index Constituents 03/31/2021

Morningstar Japan Index NR USD 03/31/2021
11

-6.58%

12.49

2

8

3.48

17.18

Morningstar Taiwan

11/2021

10

19.00

$20K

Morningstar Asia ex-Japan GR USD 03/31/2021
11

367

Growth of $10K 03/31/2021

11/2021

10

$610.7 B

GDP Annual Growth (2020)

Morningstar Eurozone Index GR USD 03/31/2021
11

23.6 M

GDP (2019)

11/2021

Portfolio Statistics 03/31/2021
Taiwan

Population (2020)

Morningstar UK Index GR USD 03/31/2021
11

Country Statistics 03/31/2021

01/2021 0.05

04/2020 16.68 07/2020 4.73

3

02/2021 2.63

05/2020 5.96

08/2020 6.51

11/2020 15.36

CTBC Financial Holding Co 2891

1.13

36.78

44/
2020

03/2021 0.71

06/2020 6.53

09/2020 6.51

12/2020 6.22

Cathay Financial Holding Co 2882

1.07

49.97

Sources: Morningstar, CEIC, Taiwan News, Trading Economics.

73



Morningstar - Q2 2021

Table of Contents for the Digital Edition of Morningstar - Q2 2021

Contents
Morningstar - Q2 2021 - Cover1
Morningstar - Q2 2021 - Cover2
Morningstar - Q2 2021 - 1
Morningstar - Q2 2021 - 2
Morningstar - Q2 2021 - Contents
Morningstar - Q2 2021 - 4
Morningstar - Q2 2021 - 5
Morningstar - Q2 2021 - 6
Morningstar - Q2 2021 - 7
Morningstar - Q2 2021 - 8
Morningstar - Q2 2021 - 9
Morningstar - Q2 2021 - 10
Morningstar - Q2 2021 - 11
Morningstar - Q2 2021 - 12
Morningstar - Q2 2021 - 13
Morningstar - Q2 2021 - 14
Morningstar - Q2 2021 - 15
Morningstar - Q2 2021 - 16
Morningstar - Q2 2021 - 17
Morningstar - Q2 2021 - 18
Morningstar - Q2 2021 - 19
Morningstar - Q2 2021 - 20
Morningstar - Q2 2021 - 21
Morningstar - Q2 2021 - 22
Morningstar - Q2 2021 - 23
Morningstar - Q2 2021 - 24
Morningstar - Q2 2021 - 25
Morningstar - Q2 2021 - 26
Morningstar - Q2 2021 - 27
Morningstar - Q2 2021 - 28
Morningstar - Q2 2021 - 29
Morningstar - Q2 2021 - 30
Morningstar - Q2 2021 - 31
Morningstar - Q2 2021 - 32
Morningstar - Q2 2021 - 33
Morningstar - Q2 2021 - 34
Morningstar - Q2 2021 - 35
Morningstar - Q2 2021 - 36
Morningstar - Q2 2021 - 37
Morningstar - Q2 2021 - 38
Morningstar - Q2 2021 - 39
Morningstar - Q2 2021 - 40
Morningstar - Q2 2021 - 41
Morningstar - Q2 2021 - 42
Morningstar - Q2 2021 - 43
Morningstar - Q2 2021 - 44
Morningstar - Q2 2021 - 45
Morningstar - Q2 2021 - 46
Morningstar - Q2 2021 - 47
Morningstar - Q2 2021 - 48
Morningstar - Q2 2021 - 49
Morningstar - Q2 2021 - 50
Morningstar - Q2 2021 - 51
Morningstar - Q2 2021 - 52
Morningstar - Q2 2021 - 53
Morningstar - Q2 2021 - 54
Morningstar - Q2 2021 - 55
Morningstar - Q2 2021 - 56
Morningstar - Q2 2021 - 57
Morningstar - Q2 2021 - 58
Morningstar - Q2 2021 - 59
Morningstar - Q2 2021 - 60
Morningstar - Q2 2021 - 61
Morningstar - Q2 2021 - 62
Morningstar - Q2 2021 - 63
Morningstar - Q2 2021 - 64
Morningstar - Q2 2021 - 65
Morningstar - Q2 2021 - 66
Morningstar - Q2 2021 - 67
Morningstar - Q2 2021 - 68
Morningstar - Q2 2021 - 69
Morningstar - Q2 2021 - 70
Morningstar - Q2 2021 - 71
Morningstar - Q2 2021 - 72
Morningstar - Q2 2021 - 73
Morningstar - Q2 2021 - 74
Morningstar - Q2 2021 - 75
Morningstar - Q2 2021 - 76
Morningstar - Q2 2021 - 77
Morningstar - Q2 2021 - 78
Morningstar - Q2 2021 - 79
Morningstar - Q2 2021 - 80
Morningstar - Q2 2021 - Cover3
Morningstar - Q2 2021 - Cover4
Morningstar - Q2 2021 - M1
Morningstar - Q2 2021 - M2
Morningstar - Q2 2021 - M3
Morningstar - Q2 2021 - M4
Morningstar - Q2 2021 - M5
Morningstar - Q2 2021 - M6
Morningstar - Q2 2021 - M7
Morningstar - Q2 2021 - M8
Morningstar - Q2 2021 - M9
Morningstar - Q2 2021 - M10
Morningstar - Q2 2021 - M11
Morningstar - Q2 2021 - M12
Morningstar - Q2 2021 - M13
Morningstar - Q2 2021 - M14
Morningstar - Q2 2021 - M15
Morningstar - Q2 2021 - M16
Morningstar - Q2 2021 - M17
Morningstar - Q2 2021 - M18
Morningstar - Q2 2021 - M19
Morningstar - Q2 2021 - M20
Morningstar - Q2 2021 - M21
Morningstar - Q2 2021 - M22
Morningstar - Q2 2021 - M23
Morningstar - Q2 2021 - M24
Morningstar - Q2 2021 - M25
Morningstar - Q2 2021 - M26
Morningstar - Q2 2021 - M27
Morningstar - Q2 2021 - M28
Morningstar - Q2 2021 - M29
Morningstar - Q2 2021 - M30
Morningstar - Q2 2021 - M31
Morningstar - Q2 2021 - M32
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2024q3
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2024q2
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2024q1
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2023q4
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2023q3
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2023q2
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2023q1
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2022q4
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2022q3
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2022q2
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2022q1
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2021q4
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2021q3
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2021q2
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2021q1
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2020q4
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2020q3
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2020q2
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2020q1
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019winter
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019fall
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019summer
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019spring
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20191201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20181011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20180809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20180607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20180405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20180203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20181201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20171011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20171201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20161011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20161201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20151011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20151201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20141011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20141201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20131011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20131201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20121011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20121201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20111011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20111201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20101011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20101201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20091011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008fall
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008summer
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2007spring
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2007fall
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2007summer
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008spring
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008catalog
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008winter
https://www.nxtbookmedia.com