DBRC.L vs. HTWD.L
DBRC.L (iShares BIC 50 UCITS ETF USD (Dist)) and HTWD.L (HSBC MSCI Taiwan Capped UCITS ETF USD (Dist)) are both Emerging Markets Equities funds - DBRC.L tracks the FTSE BIC 50 Net of Tax Index while HTWD.L tracks the MSCI Taiwan Capped Index. Both are passively managed. Over the past 10 years, DBRC.L returned 2.34%/yr vs 20.23%/yr for HTWD.L. A 0.63 correlation means they provide meaningful diversification when combined. DBRC.L charges 0.74%/yr vs 0.50%/yr for HTWD.L.
Performance
DBRC.L vs. HTWD.L - Performance Comparison
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Returns By Period
In the year-to-date period, DBRC.L achieves a -9.46% return, which is significantly lower than HTWD.L's 51.61% return. Over the past 10 years, DBRC.L has underperformed HTWD.L with an annualized return of 2.34%, while HTWD.L has yielded a comparatively higher 20.23% annualized return.
DBRC.L
- 1D
- 0.43%
- 1M
- 3.16%
- 6M
- -11.80%
- YTD
- -9.46%
- 1Y
- -5.05%
- 3Y*
- 7.58%
- 5Y*
- -6.84%
- 10Y*
- 2.34%
HTWD.L
- 1D
- -4.13%
- 1M
- -10.54%
- 6M
- 42.37%
- YTD
- 51.61%
- 1Y
- 73.67%
- 3Y*
- 38.33%
- 5Y*
- 19.33%
- 10Y*
- 20.23%
DBRC.L vs. HTWD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBRC.L iShares BIC 50 UCITS ETF USD (Dist) | -9.46% | 29.65% | 13.80% | -7.59% | -28.96% | -23.93% | 20.04% | 21.82% | -8.40% | 36.18% |
HTWD.L HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) | 51.61% | 32.26% | 25.40% | 28.98% | -29.41% | 27.78% | 36.62% | 33.56% | -8.71% | 27.16% |
Correlation
The correlation between DBRC.L and HTWD.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2011 | 0.63 |
Over the past year, the correlation between DBRC.L and HTWD.L has dropped to 0.39 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
DBRC.L vs. HTWD.L — Risk / Return Rank
DBRC.L
HTWD.L
DBRC.L vs. HTWD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares BIC 50 UCITS ETF USD (Dist) (DBRC.L) and HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) (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.
| DBRC.L | HTWD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.86 | ||
| Sortino ratioReturn per unit of downside risk | -3.44 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.43 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 5.31 | -5.47 |
| Martin ratioReturn relative to average drawdown | -0.36 | 17.31 | -17.67 |
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Drawdowns
DBRC.L vs. HTWD.L - Drawdown Comparison
The maximum DBRC.L drawdown since its inception was -70.16%, which is greater than HTWD.L's maximum drawdown of -41.06%. Use the drawdown chart below to compare losses from any high point for DBRC.L and HTWD.L.
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Drawdown Indicators
| DBRC.L | HTWD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.16% | -41.06% | -29.10% |
Max Drawdown (1Y)Largest decline over 1 year | -26.03% | -13.80% | -12.23% |
Max Drawdown (3Y)Largest decline over 3 years | -26.03% | -28.22% | +2.19% |
Max Drawdown (5Y)Largest decline over 5 years | -57.15% | -41.06% | -16.09% |
Max Drawdown (10Y)Largest decline over 10 years | -66.02% | -41.06% | -24.96% |
Current DrawdownCurrent decline from peak | -43.62% | -13.80% | -29.82% |
Average DrawdownAverage peak-to-trough decline | -31.51% | -9.66% | -21.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.39% | 4.24% | +7.15% |
Volatility
DBRC.L vs. HTWD.L - Volatility Comparison
The current volatility for iShares BIC 50 UCITS ETF USD (Dist) (DBRC.L) is 6.01%, while HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) (HTWD.L) has a volatility of 11.37%. This indicates that DBRC.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.
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Volatility by Period
| DBRC.L | HTWD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.01% | 11.37% | -5.36% |
Volatility (6M)Calculated over the trailing 6-month period | 15.13% | 24.13% | -9.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.20% | 27.64% | -7.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.52% | 23.64% | +6.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.51% | 21.67% | +4.84% |
DBRC.L vs. HTWD.L - Expense Ratio Comparison
DBRC.L has a 0.74% expense ratio, which is higher than HTWD.L's 0.50% expense ratio.
Dividends
DBRC.L vs. HTWD.L - Dividend Comparison
DBRC.L's dividend yield for the trailing twelve months is around 1.60%, more than HTWD.L's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBRC.L iShares BIC 50 UCITS ETF USD (Dist) | 1.60% | 1.74% | 2.81% | 2.60% | 3.58% | 1.58% | 1.43% | 2.02% | 2.96% | 1.94% | 1.89% | 2.68% |
HTWD.L HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) | 1.08% | 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
DBRC.L and HTWD.L have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
HTWD.L is cheaper with a 0.50% expense ratio, compared with 0.74% for DBRC.L.
DBRC.L tracks FTSE BIC 50 Net of Tax Index, while HTWD.L tracks MSCI Taiwan Capped Index. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.74% for DBRC.L and 0.50% for HTWD.L.
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