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HIDR.L vs. ITWN.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HIDR.L vs. ITWN.L

Last updated Jun 6, 2026

HIDR.L (HSBC MSCI Indonesia UCITS ETF USD) and ITWN.L (iShares MSCI Taiwan UCITS ETF) are both Asia Pacific Equities funds - HIDR.L tracks the MSCI Indonesia NR IDR while ITWN.L tracks the MSCI Taiwan NR USD. Both are passively managed. Over the past 10 years, HIDR.L returned -4.15%/yr vs 22.38%/yr for ITWN.L. At a 0.47 correlation, their price movements are largely independent. HIDR.L charges 0.50%/yr vs 0.74%/yr for ITWN.L.

Performance

HIDR.L vs. ITWN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) and iShares MSCI Taiwan UCITS ETF (ITWN.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HIDR.L achieves a -42.82% return, which is significantly lower than ITWN.L's 60.78% return. Over the past 10 years, HIDR.L has underperformed ITWN.L with an annualized return of -4.15%, while ITWN.L has yielded a comparatively higher 22.38% annualized return.

HIDR.L

1D
-5.86%
1M
-23.95%
YTD
-42.82%
6M
-44.12%
1Y
-43.50%
3Y*
-24.47%
5Y*
-10.13%
10Y*
-4.15%

ITWN.L

1D
-4.26%
1M
7.38%
YTD
60.78%
6M
62.99%
1Y
106.64%
3Y*
38.16%
5Y*
21.88%
10Y*
22.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HIDR.L vs. ITWN.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HIDR.L
HSBC MSCI Indonesia UCITS ETF USD		-42.82%-8.13%-13.17%-0.80%15.43%2.40%-10.73%4.06%-4.15%12.65%
ITWN.L
iShares MSCI Taiwan UCITS ETF		60.78%22.61%25.77%21.84%-21.08%29.84%30.38%29.88%-3.90%16.56%

Correlation

The correlation between HIDR.L and ITWN.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

Correlation (3Y)
Calculated over the trailing 3-year period

0.28

Correlation (5Y)
Calculated over the trailing 5-year period

0.27

Correlation (10Y)
Calculated over the trailing 10-year period

0.41

Correlation (All Time)
Calculated using the full available price history since Mar 31, 2011

0.47

Over the past year, the correlation between HIDR.L and ITWN.L has dropped to 0.27 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.

HIDR.L vs. ITWN.L - Sectors Allocation Comparison

Sectors
HIDR.L
ITWN.L

Financial Services

56.9%
10.9%

Basic Materials

12.8%
2.0%

Communication Services

11.6%
1.4%

Industrials

7.9%
2.4%

Consumer Defensive

4.2%
0.8%

Technology

3.4%
80.7%

Energy

1.7%

-

Utilities

1.6%

-

Consumer Cyclical

-

1.2%

Healthcare

-

0.6%

Real Estate

-

-

Financial Services

HIDR.L
56.9%
ITWN.L
10.9%

Basic Materials

HIDR.L
12.8%
ITWN.L
2.0%

Communication Services

HIDR.L
11.6%
ITWN.L
1.4%

Industrials

HIDR.L
7.9%
ITWN.L
2.4%

Consumer Defensive

HIDR.L
4.2%
ITWN.L
0.8%

Technology

HIDR.L
3.4%
ITWN.L
80.7%

Energy

HIDR.L
1.7%
ITWN.L

-

Utilities

HIDR.L
1.6%
ITWN.L

-

Consumer Cyclical

HIDR.L

-

ITWN.L
1.2%

Healthcare

HIDR.L

-

ITWN.L
0.6%

Real Estate

HIDR.L

-

ITWN.L

-

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HSBC MSCI Indonesia UCITS ETF USD

iShares MSCI Taiwan UCITS ETF

Often compared with HIDR.L:
HIDR.L vs. XDUS.LHIDR.L vs. IAUHIDR.L vs. SPYHIDR.L vs. HKOR.LHIDR.L vs. CP9U.LHIDR.L vs. CP9G.LHIDR.L vs. HMUD.L
Often compared with ITWN.L:
ITWN.L vs. QQQITWN.L vs. SPINXITWN.L vs. TSMITWN.L vs. VTIITWN.L vs. VWCE.DEITWN.L vs. FLXT.DEITWN.L vs. FLIN

Return for Risk

HIDR.L vs. ITWN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HIDR.L
HIDR.L Risk / Return Rank: 00
Overall Rank
HIDR.L Sharpe Ratio Rank: 00
Sharpe Ratio Rank
HIDR.L Sortino Ratio Rank: 00
Sortino Ratio Rank
HIDR.L Omega Ratio Rank: 00
Omega Ratio Rank
HIDR.L Calmar Ratio Rank: 11
Calmar Ratio Rank
HIDR.L Martin Ratio Rank: 00
Martin Ratio Rank
ITWN.L
ITWN.L Risk / Return Rank: 9797
Overall Rank
ITWN.L Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
ITWN.L Sortino Ratio Rank: 9696
Sortino Ratio Rank
ITWN.L Omega Ratio Rank: 9696
Omega Ratio Rank
ITWN.L Calmar Ratio Rank: 9797
Calmar Ratio Rank
ITWN.L Martin Ratio Rank: 9696
Martin Ratio Rank
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.

HIDR.L vs. ITWN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) and iShares MSCI Taiwan UCITS ETF (ITWN.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.

HIDR.LITWN.LDifference
Sharpe ratioReturn per unit of total volatility
-1.71
4.55

-6.26

Sortino ratioReturn per unit of downside risk
-2.56
5.29

-7.86

Omega ratioGain probability vs. loss probability

0.68

1.73

-1.05

Calmar ratioReturn relative to maximum drawdown

-0.94

11.33

-12.27

Martin ratioReturn relative to average drawdown

-2.78

31.41

-34.20

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HIDR.L vs. ITWN.L - Sharpe Ratio Comparison

The current HIDR.L Sharpe Ratio is -1.71, which is lower than the ITWN.L Sharpe Ratio of 4.55. The chart below compares the historical Sharpe Ratios of HIDR.L and ITWN.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.

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Sharpe Ratios by Period

HIDR.LITWN.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.71

4.55

-6.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.50

1.05

-1.55

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.18

1.10

-1.28

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.11

0.14

-0.25

Drawdowns

HIDR.L vs. ITWN.L - Drawdown Comparison

The maximum HIDR.L drawdown since its inception was -60.76%, smaller than the maximum ITWN.L drawdown of -72.46%. Use the drawdown chart below to compare losses from any high point for HIDR.L and ITWN.L.

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Drawdown Indicators

HIDR.LITWN.LDifference

Max Drawdown

Largest peak-to-trough decline

-60.76%

-72.46%

+11.70%

Max Drawdown (1Y)

Largest decline over 1 year

-46.13%

-9.36%

-36.77%

Max Drawdown (3Y)

Largest decline over 3 years

-56.77%

-29.32%

-27.45%

Max Drawdown (5Y)

Largest decline over 5 years

-60.76%

-30.07%

-30.69%

Max Drawdown (10Y)

Largest decline over 10 years

-60.76%

-30.07%

-30.69%

Current Drawdown

Current decline from peak

-60.76%

-5.98%

-54.78%

Average Drawdown

Average peak-to-trough decline

-17.69%

-21.94%

+4.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

15.62%

3.38%

+12.24%

Volatility

HIDR.L vs. ITWN.L - Volatility Comparison

The current volatility for HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) is 9.17%, while iShares MSCI Taiwan UCITS ETF (ITWN.L) has a volatility of 10.71%. This indicates that HIDR.L experiences smaller price fluctuations and is considered to be less risky than ITWN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HIDR.LITWN.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.17%

10.71%

-1.54%

Volatility (6M)

Calculated over the trailing 6-month period

21.27%

19.20%

+2.07%

Volatility (1Y)

Calculated over the trailing 1-year period

25.32%

23.32%

+2.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.12%

20.85%

-0.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.37%

20.34%

+3.03%

HIDR.L vs. ITWN.L - Expense Ratio Comparison

HIDR.L has a 0.50% expense ratio, which is lower than ITWN.L's 0.74% expense ratio.

Dividends

HIDR.L vs. ITWN.L - Dividend Comparison

HIDR.L's dividend yield for the trailing twelve months is around 6.64%, more than ITWN.L's 0.93% yield.

PositionTTM20252024202320222021202020192018201720162015
HIDR.L
HSBC MSCI Indonesia UCITS ETF USD		6.64%4.87%3.49%3.49%2.04%1.27%1.75%1.62%1.50%1.14%1.12%1.59%
ITWN.L
iShares MSCI Taiwan UCITS ETF		0.93%1.50%1.37%2.14%3.54%1.33%1.83%2.30%2.72%2.74%2.86%3.21%

Frequently Asked Questions

HIDR.L and ITWN.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

HIDR.L is cheaper with a 0.50% expense ratio, compared with 0.74% for ITWN.L.

HIDR.L tracks MSCI Indonesia NR IDR, while ITWN.L tracks MSCI Taiwan NR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.50% for HIDR.L and 0.74% for ITWN.L.

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