HMEF.L vs. HTWD.L
HMEF.L (HSBC MSCI Emerging Markets UCITS ETF USD) and HTWD.L (HSBC MSCI Taiwan Capped UCITS ETF USD (Dist)) are both Emerging Markets Equities funds from HSBC - HMEF.L tracks the MSCI EM NR USD while HTWD.L tracks the MSCI Taiwan Capped Index. Both are passively managed. Over the past 10 years, HMEF.L returned 44.27%/yr vs 19.91%/yr for HTWD.L. A 0.77 correlation means they provide meaningful diversification when combined. HMEF.L charges 0.15%/yr vs 0.50%/yr for HTWD.L.
Performance
HMEF.L vs. HTWD.L - Performance Comparison
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Different Trading Currencies
HMEF.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, HMEF.L achieves a 16.22% return, which is significantly lower than HTWD.L's 51.82% return. Over the past 10 years, HMEF.L has outperformed HTWD.L with an annualized return of 44.27%, while HTWD.L has yielded a comparatively lower 19.91% annualized return.
HMEF.L
- 1D
- -1.88%
- 1M
- -10.10%
- 6M
- 9.60%
- YTD
- 16.22%
- 1Y
- 31.37%
- 3Y*
- 17.73%
- 5Y*
- 6.66%
- 10Y*
- 44.27%
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%
HMEF.L vs. HTWD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HMEF.L HSBC MSCI Emerging Markets UCITS ETF USD | 16.22% | 24.56% | 9.08% | 2.44% | -10.01% | -2.27% | 14.81% | 12.75% | -9.63% | 101.42% |
HTWD.L HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) | 51.82% | 22.83% | 27.59% | 22.54% | -21.01% | 28.99% | 32.61% | 28.48% | -3.30% | 16.17% |
Correlation
The correlation between HMEF.L and HTWD.L is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2011 | 0.77 |
The correlation between HMEF.L and HTWD.L shifts across timeframes, from 0.72 (5 years) to 0.82 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HMEF.L vs. HTWD.L — Risk / Return Rank
HMEF.L
HTWD.L
HMEF.L vs. HTWD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.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.
| HMEF.L | HTWD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.45 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 4.83 | -2.29 |
| Martin ratioReturn relative to average drawdown | 8.20 | 18.16 | -9.96 |
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Drawdowns
HMEF.L vs. HTWD.L - Drawdown Comparison
The maximum HMEF.L drawdown since its inception was -27.33%, smaller than the maximum HTWD.L drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for HMEF.L and HTWD.L.
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Drawdown Indicators
| HMEF.L | HTWD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.33% | -32.66% | +5.33% |
Max Drawdown (1Y)Largest decline over 1 year | -12.30% | -15.07% | +2.77% |
Max Drawdown (3Y)Largest decline over 3 years | -15.16% | -29.82% | +14.66% |
Max Drawdown (5Y)Largest decline over 5 years | -21.86% | -30.12% | +8.26% |
Max Drawdown (10Y)Largest decline over 10 years | -27.33% | -30.12% | +2.79% |
Current DrawdownCurrent decline from peak | -12.30% | -15.07% | +2.77% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -7.45% | -0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.81% | 4.02% | -0.21% |
Volatility
HMEF.L vs. HTWD.L - Volatility Comparison
The current volatility for HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.L) is 8.37%, while HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) (HTWD.L) has a volatility of 10.84%. This indicates that HMEF.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
| HMEF.L | HTWD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | 10.84% | -2.47% |
Volatility (6M)Calculated over the trailing 6-month period | 17.64% | 23.02% | -5.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.72% | 26.48% | -6.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.81% | 22.21% | -5.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 142.54% | 21.12% | +121.42% |
HMEF.L vs. HTWD.L - Expense Ratio Comparison
HMEF.L has a 0.15% expense ratio, which is lower than HTWD.L's 0.50% expense ratio.
Dividends
HMEF.L vs. HTWD.L - Dividend Comparison
HMEF.L's dividend yield for the trailing twelve months is around 1.75%, more than HTWD.L's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMEF.L HSBC MSCI Emerging Markets UCITS ETF USD | 1.75% | 1.98% | 2.43% | 2.58% | 2.99% | 2.01% | 1.66% | 2.11% | 2.14% | 37.43% | 168.62% | 225.12% |
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
HMEF.L and HTWD.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HMEF.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HMEF.L is cheaper with a 0.15% expense ratio, compared with 0.50% for HTWD.L.
HMEF.L tracks MSCI EM NR USD, while HTWD.L tracks MSCI Taiwan Capped Index. Their fees differ too: 0.15% for HMEF.L and 0.50% for HTWD.L.
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