BLOK.L vs. HTWD.L

Last updated Jul 16, 2026

BLOK.L (First Trust Indxx Innovative Transaction & Process UCITS ETF) and HTWD.L (HSBC MSCI Taiwan Capped UCITS ETF) are both Technology Equities funds - BLOK.L tracks the MSCI World/Information Tech NR USD while HTWD.L tracks the HSBC MSCI Taiwan Capped UCITS ETF. Both are passively managed. Over the past 5 years, BLOK.L returned 12.15%/yr vs 21.07%/yr for HTWD.L. A 0.65 correlation means they provide meaningful diversification when combined. BLOK.L charges 0.65%/yr vs 0.50%/yr for HTWD.L.

Performance

BLOK.L vs. HTWD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in First Trust Indxx Innovative Transaction & Process UCITS ETF (BLOK.L) and HSBC MSCI Taiwan Capped UCITS ETF (HTWD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BLOK.L is traded in GBp, while HTWD.L is traded in USD. To make them comparable, the HTWD.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, BLOK.L achieves a 9.33% return, which is significantly lower than HTWD.L's 59.56% return.

BLOK.L

• 1D: -0.46%
• 1M: -3.12%
• 6M: 6.32%
• YTD: 9.33%
• 1Y: 22.43%
• 3Y*: 19.59%
• 5Y*: 12.15%
• 10Y*: —

HTWD.L

• 1D: 0.00%
• 1M: -5.71%
• 6M: 52.04%
• YTD: 59.56%
• 1Y: 85.65%
• 3Y*: 39.30%
• 5Y*: 21.07%
• 10Y*: 20.58%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BLOK.L vs. HTWD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BLOK.L First Trust Indxx Innovative Transaction & Process UCITS ETF	9.33%	22.34%	18.56%	14.77%	-8.98%	19.08%	15.05%	22.59%	-28.50%
HTWD.L HSBC MSCI Taiwan Capped UCITS ETF	59.56%	22.83%	27.59%	22.54%	-21.01%	28.99%	32.61%	28.48%	-3.15%

Correlation

The correlation between BLOK.L and HTWD.L is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Apr 9, 2018	0.65

The correlation between BLOK.L and HTWD.L has been stable across timeframes, ranging from 0.60 to 0.65 - a consistent structural relationship.

Return for Risk

BLOK.L vs. HTWD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BLOK.L

BLOK.L Risk / Return Rank: 66
BLOK.L Sharpe Ratio Rank: 64
BLOK.L Sortino Ratio Rank: 61
BLOK.L Omega Ratio Rank: 63
BLOK.L Calmar Ratio Rank: 75
BLOK.L Martin Ratio Rank: 67

HTWD.L

HTWD.L Risk / Return Rank: 94
HTWD.L Sharpe Ratio Rank: 95
HTWD.L Sortino Ratio Rank: 92
HTWD.L Omega Ratio Rank: 92
HTWD.L Calmar Ratio Rank: 96
HTWD.L Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BLOK.L vs. HTWD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Innovative Transaction & Process UCITS ETF (BLOK.L) and HSBC MSCI Taiwan Capped UCITS ETF (HTWD.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BLOK.L	HTWD.L	Difference
Sharpe ratio: Return per unit of total volatility	1.70	3.24	-1.54
Sortino ratio: Return per unit of downside risk	2.32	3.90	-1.58
Omega ratio: Gain probability vs. loss probability	1.31	1.52	-0.22
Calmar ratio: Return relative to maximum drawdown	3.07	7.88	-4.81
Martin ratio: Return relative to average drawdown	9.72	21.77	-12.05

BLOK.L vs. HTWD.L - Sharpe Ratio Comparison

The current BLOK.L Sharpe Ratio is 1.70, which is lower than the HTWD.L Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of BLOK.L and HTWD.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BLOK.L vs. HTWD.L - Drawdown Comparison

The maximum BLOK.L drawdown since its inception was -31.83%, roughly equal to the maximum HTWD.L drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for BLOK.L and HTWD.L.

Drawdown Indicators

	BLOK.L	HTWD.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.83%	-32.66%	+0.83%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	-10.75%	+3.47%
Max Drawdown (3Y) Largest decline over 3 years	-20.06%	-29.82%	+9.76%
Max Drawdown (5Y) Largest decline over 5 years	-20.06%	-30.12%	+10.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.12%	—
Current Drawdown Current decline from peak	-3.89%	-10.75%	+6.86%
Average Drawdown Average peak-to-trough decline	-9.51%	-7.45%	-2.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	3.89%	-1.59%

Volatility

BLOK.L vs. HTWD.L - Volatility Comparison

The current volatility for First Trust Indxx Innovative Transaction & Process UCITS ETF (BLOK.L) is 3.50%, while HSBC MSCI Taiwan Capped UCITS ETF (HTWD.L) has a volatility of 10.65%. This indicates that BLOK.L experiences smaller price fluctuations and is considered to be less risky than HTWD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLOK.L	HTWD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	10.65%	-7.15%
Volatility (6M) Calculated over the trailing 6-month period	9.99%	22.58%	-12.59%
Volatility (1Y) Calculated over the trailing 1-year period	13.12%	26.11%	-12.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.66%	22.14%	-2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.95%	21.08%	+0.87%

BLOK.L vs. HTWD.L - Expense Ratio Comparison

BLOK.L has a 0.65% expense ratio, which is higher than HTWD.L's 0.50% expense ratio.

Dividends

BLOK.L vs. HTWD.L - Dividend Comparison

BLOK.L has not paid dividends to shareholders, while HTWD.L's dividend yield for the trailing twelve months is around 1.04%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BLOK.L First Trust Indxx Innovative Transaction & Process UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HTWD.L HSBC MSCI Taiwan Capped UCITS ETF	1.04%	1.53%	1.18%	2.73%	3.31%	1.13%	1.69%	2.08%	2.79%	1.37%	2.64%	2.65%

Frequently Asked Questions

Can I hold both BLOK.L and HTWD.L in my portfolio?

BLOK.L and HTWD.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BLOK.L or HTWD.L?

On fees, HTWD.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BLOK.L or HTWD.L?

HTWD.L is cheaper with a 0.50% expense ratio, compared with 0.65% for BLOK.L.

What is the main difference between BLOK.L and HTWD.L?

BLOK.L tracks MSCI World/Information Tech NR USD, while HTWD.L tracks HSBC MSCI Taiwan Capped UCITS ETF. They also come from different issuers: First Trust and HSBC. Their fees differ too: 0.65% for BLOK.L and 0.50% for HTWD.L.