EMVL.L vs. HTWD.L
EMVL.L (iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc)) and HTWD.L (HSBC MSCI Taiwan Capped UCITS ETF USD (Dist)) are both Emerging Markets Equities funds - EMVL.L tracks the MSCI EM NR USD while HTWD.L tracks the MSCI Taiwan Capped Index. Both are passively managed. Over the past 5 years, EMVL.L returned 14.50%/yr vs 19.33%/yr for HTWD.L. A 0.78 correlation means they provide meaningful diversification when combined. EMVL.L charges 0.40%/yr vs 0.50%/yr for HTWD.L.
Performance
EMVL.L vs. HTWD.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMVL.L achieves a 27.71% return, which is significantly lower than HTWD.L's 51.61% return.
EMVL.L
- 1D
- -1.78%
- 1M
- -12.08%
- 6M
- 19.62%
- YTD
- 27.71%
- 1Y
- 52.30%
- 3Y*
- 30.85%
- 5Y*
- 14.50%
- 10Y*
- —
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%
EMVL.L vs. HTWD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMVL.L iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) | 27.71% | 43.13% | 14.49% | 18.37% | -16.29% | 5.29% | 7.72% | 17.64% | -2.10% |
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% | -0.00% |
Correlation
The correlation between EMVL.L and HTWD.L is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2018 | 0.78 |
The correlation between EMVL.L and HTWD.L has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.
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Return for Risk
EMVL.L vs. HTWD.L — Risk / Return Rank
EMVL.L
HTWD.L
EMVL.L vs. HTWD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.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.
| EMVL.L | HTWD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.43 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 5.31 | -1.83 |
| Martin ratioReturn relative to average drawdown | 11.16 | 17.31 | -6.15 |
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Drawdowns
EMVL.L vs. HTWD.L - Drawdown Comparison
The maximum EMVL.L drawdown since its inception was -34.95%, smaller than the maximum HTWD.L drawdown of -41.06%. Use the drawdown chart below to compare losses from any high point for EMVL.L and HTWD.L.
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Drawdown Indicators
| EMVL.L | HTWD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.95% | -41.06% | +6.11% |
Max Drawdown (1Y)Largest decline over 1 year | -14.94% | -13.80% | -1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | -28.22% | +11.80% |
Max Drawdown (5Y)Largest decline over 5 years | -31.61% | -41.06% | +9.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.06% | — |
Current DrawdownCurrent decline from peak | -14.94% | -13.80% | -1.14% |
Average DrawdownAverage peak-to-trough decline | -9.52% | -9.66% | +0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.67% | 4.24% | +0.43% |
Volatility
EMVL.L vs. HTWD.L - Volatility Comparison
The current volatility for iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.L) is 10.20%, while HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) (HTWD.L) has a volatility of 11.37%. This indicates that EMVL.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
| EMVL.L | HTWD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.20% | 11.37% | -1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 21.35% | 24.13% | -2.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.92% | 27.64% | -3.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.72% | 23.64% | -2.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.39% | 21.67% | -0.28% |
EMVL.L vs. HTWD.L - Expense Ratio Comparison
EMVL.L has a 0.40% expense ratio, which is lower than HTWD.L's 0.50% expense ratio.
Dividends
EMVL.L vs. HTWD.L - Dividend Comparison
EMVL.L has not paid dividends to shareholders, while HTWD.L's dividend yield for the trailing twelve months is around 1.08%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMVL.L iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) | 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 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
EMVL.L and HTWD.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMVL.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMVL.L is cheaper with a 0.40% expense ratio, compared with 0.50% for HTWD.L.
EMVL.L tracks MSCI EM NR USD, while HTWD.L tracks MSCI Taiwan Capped Index. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.40% for EMVL.L and 0.50% for HTWD.L.
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