FEMD.L vs. HTWD.L
FEMD.L (Fidelity Emerging Markets Quality Income UCITS ETF) and HTWD.L (HSBC MSCI Taiwan Capped UCITS ETF USD (Dist)) are both Emerging Markets Equities funds - FEMD.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, FEMD.L returned 7.32%/yr vs 19.87%/yr for HTWD.L. A 0.69 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.
Performance
FEMD.L vs. HTWD.L - Performance Comparison
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Different Trading Currencies
FEMD.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, FEMD.L achieves a 21.79% return, which is significantly lower than HTWD.L's 51.82% return.
FEMD.L
- 1D
- -1.56%
- 1M
- -12.50%
- 6M
- 16.35%
- YTD
- 21.79%
- 1Y
- 31.65%
- 3Y*
- 19.14%
- 5Y*
- 7.32%
- 10Y*
- —
HTWD.L
- 1D
- -3.97%
- 1M
- -11.64%
- 6M
- 41.55%
- YTD
- 51.82%
- 1Y
- 73.20%
- 3Y*
- 36.89%
- 5Y*
- 19.87%
- 10Y*
- 19.91%
FEMD.L vs. HTWD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FEMD.L Fidelity Emerging Markets Quality Income UCITS ETF | 21.79% | 20.69% | 6.70% | 10.14% | -15.65% | 7.02% | 9.84% | 2.09% |
HTWD.L HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) | 51.82% | 22.83% | 27.59% | 22.54% | -21.01% | 28.99% | 32.61% | 11.42% |
Correlation
The correlation between FEMD.L and HTWD.L is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2019 | 0.69 |
The correlation between FEMD.L and HTWD.L has been stable across timeframes, ranging from 0.66 to 0.76 - a consistent structural relationship.
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Return for Risk
FEMD.L vs. HTWD.L — Risk / Return Rank
FEMD.L
HTWD.L
FEMD.L vs. HTWD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets Quality Income UCITS ETF (FEMD.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.
| FEMD.L | HTWD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.45 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 4.83 | -2.65 |
| Martin ratioReturn relative to average drawdown | 8.40 | 18.16 | -9.76 |
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Drawdowns
FEMD.L vs. HTWD.L - Drawdown Comparison
The maximum FEMD.L drawdown since its inception was -27.56%, smaller than the maximum HTWD.L drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for FEMD.L and HTWD.L.
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Drawdown Indicators
| FEMD.L | HTWD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.56% | -32.66% | +5.10% |
Max Drawdown (1Y)Largest decline over 1 year | -14.48% | -15.07% | +0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -14.48% | -29.82% | +15.34% |
Max Drawdown (5Y)Largest decline over 5 years | -24.44% | -30.12% | +5.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.12% | — |
Current DrawdownCurrent decline from peak | -14.48% | -15.07% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -8.25% | -7.45% | -0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 4.02% | -0.26% |
Volatility
FEMD.L vs. HTWD.L - Volatility Comparison
The current volatility for Fidelity Emerging Markets Quality Income UCITS ETF (FEMD.L) is 8.70%, while HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) (HTWD.L) has a volatility of 10.84%. This indicates that FEMD.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
| FEMD.L | HTWD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.70% | 10.84% | -2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 17.18% | 23.02% | -5.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.93% | 26.48% | -7.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.70% | 22.21% | -6.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.00% | 21.12% | -3.12% |
FEMD.L vs. HTWD.L - Expense Ratio Comparison
Both FEMD.L and HTWD.L have an expense ratio of 0.50%.
Dividends
FEMD.L vs. HTWD.L - Dividend Comparison
FEMD.L's dividend yield for the trailing twelve months is around 3.02%, more than HTWD.L's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEMD.L Fidelity Emerging Markets Quality Income UCITS ETF | 3.02% | 3.48% | 3.75% | 3.69% | 4.00% | 3.26% | 2.84% | 0.36% | 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
FEMD.L and HTWD.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
FEMD.L and HTWD.L have the same expense ratio: 0.50% per year.
FEMD.L tracks MSCI EM NR USD, while HTWD.L tracks MSCI Taiwan Capped Index. They also come from different issuers: Fidelity and HSBC.
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