The exchange traded fund (ETF) has been issued for 18 years. Total value of global assets has grown up nearly 300 times, among them, ETF of the Taiwan financial market has been issued for nearly two years. If it depended on the international market trend, may become investor's one of the main investment tools. In case of that, it is worthy to investigate into the performance and characteristic of Taiwan ETF. We analyze three issues in this research: (1).the price behavior difference between the net assets value of Taiwan ETF and Taiwan 50 indexes; (2).Correlation between Taiwan ETF market price and the TTT net assets value; (3).The performance comparison between Taiwan ETF and stock funds. Evidence from Taiwan market demonstrate that: (1).rate of return of Taiwan ETF is lower than the rate of returns of Taiwan 50 indexes; (2).Net assets value of Taiwan ETF and market price difference are extremely small, and the pre-period difference shows the ability of statistically explaining to next difference; (3).It is not apparent that the net assets value of Taiwan ETF and market price difference statistically explains the trading volume, and further, the arbitrage possibility is quite low; (4).The growth of trading volume of Taiwan ETF faces the market structural bottleneck. The result of this research is benefits the issue management of next Taiwan ETF and is worth consulting the trading tactics.