PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HSTE.L vs. HTWD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HSTE.L vs. HTWD.L

Last updated Jul 16, 2026
Documentation

HSTE.L (HSBC Hang Seng Tech UCITS ETF) and HTWD.L (HSBC MSCI Taiwan Capped UCITS ETF) are both Technology Equities funds from HSBC - HSTE.L tracks the MSCI World/Information Tech NR USD while HTWD.L tracks the HSBC MSCI Taiwan Capped UCITS ETF. Both are passively managed. Over the past 5 years, HSTE.L returned -8.55%/yr vs 20.24%/yr for HTWD.L. At a 0.45 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.

Performance

HSTE.L vs. HTWD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC Hang Seng Tech UCITS ETF (HSTE.L) and HSBC MSCI Taiwan Capped UCITS ETF (HTWD.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, HSTE.L achieves a -13.70% return, which is significantly lower than HTWD.L's 57.53% return.

HSTE.L

1D
2.14%
1M
0.30%
6M
-18.64%
YTD
-13.70%
1Y
-11.29%
3Y*
5.00%
5Y*
-8.55%
10Y*
—

HTWD.L

1D
-1.68%
1M
-6.47%
6M
50.40%
YTD
57.53%
1Y
84.50%
3Y*
40.11%
5Y*
20.24%
10Y*
20.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HSTE.L vs. HTWD.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
HSTE.L
HSBC Hang Seng Tech UCITS ETF		-13.70%24.64%19.65%-8.46%-27.99%-32.88%-86.54%
HTWD.L
HSBC MSCI Taiwan Capped UCITS ETF		57.53%32.26%25.40%28.98%-29.41%27.78%2.91%

Correlation

The correlation between HSTE.L and HTWD.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.48

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

0.40

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

0.45

Correlation (All Time)
Calculated using the full available price history since Dec 9, 2020

0.45

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

HSBC Hang Seng Tech UCITS ETF

HSBC MSCI Taiwan Capped UCITS ETF

Often compared with HSTE.L:
HSTE.L vs. HSTC.LHSTE.L vs. KTECHSTE.L vs. ^HSIHSTE.L vs. 0700.HKHSTE.L vs. ^NDXHSTE.L vs. VOOHSTE.L vs. BRK-B

Return for Risk

HSTE.L vs. HTWD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HSTE.L
HSTE.L Risk / Return Rank: 66
Overall Rank
HSTE.L Sharpe Ratio Rank: 66
Sharpe Ratio Rank
HSTE.L Sortino Ratio Rank: 55
Sortino Ratio Rank
HSTE.L Omega Ratio Rank: 66
Omega Ratio Rank
HSTE.L Calmar Ratio Rank: 66
Calmar Ratio Rank
HSTE.L Martin Ratio Rank: 77
Martin Ratio Rank
HTWD.L
HTWD.L Risk / Return Rank: 9494
Overall Rank
HTWD.L Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
HTWD.L Sortino Ratio Rank: 9292
Sortino Ratio Rank
HTWD.L Omega Ratio Rank: 9292
Omega Ratio Rank
HTWD.L Calmar Ratio Rank: 9696
Calmar Ratio Rank
HTWD.L Martin Ratio Rank: 9494
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.

HSTE.L vs. HTWD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC Hang Seng Tech UCITS ETF (HSTE.L) and HSBC MSCI Taiwan Capped UCITS ETF (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.

HSTE.LHTWD.LDifference
Sharpe ratioReturn per unit of total volatility
-0.40
3.04

-3.44

Sortino ratioReturn per unit of downside risk
-0.40
3.68

-4.08

Omega ratioGain probability vs. loss probability

0.95

1.49

-0.53

Calmar ratioReturn relative to maximum drawdown

-0.32

7.40

-7.72

Martin ratioReturn relative to average drawdown

-0.57

20.03

-20.60

HSTE.L vs. HTWD.L - Sharpe Ratio Comparison

The current HSTE.L Sharpe Ratio is -0.40, which is lower than the HTWD.L Sharpe Ratio of 3.04. The chart below compares the historical Sharpe Ratios of HSTE.L and HTWD.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.

Loading charts...

Drawdowns

HSTE.L vs. HTWD.L - Drawdown Comparison

The maximum HSTE.L drawdown since its inception was -95.65%, 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 HSTE.L and HTWD.L.

Loading charts...

Drawdown Indicators

HSTE.LHTWD.LDifference

Max Drawdown

Largest peak-to-trough decline

-95.65%

-41.06%

-54.59%

Max Drawdown (1Y)

Largest decline over 1 year

-35.09%

-11.22%

-23.87%

Max Drawdown (3Y)

Largest decline over 3 years

-35.09%

-28.22%

-6.87%

Max Drawdown (5Y)

Largest decline over 5 years

-63.71%

-41.06%

-22.65%

Max Drawdown (10Y)

Largest decline over 10 years

—

-41.06%

—

Current Drawdown

Current decline from peak

-92.33%

-10.43%

-81.90%

Average Drawdown

Average peak-to-trough decline

-91.81%

-9.65%

-82.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

19.67%

4.16%

+15.51%

Volatility

HSTE.L vs. HTWD.L - Volatility Comparison

The current volatility for HSBC Hang Seng Tech UCITS ETF (HSTE.L) is 8.04%, while HSBC MSCI Taiwan Capped UCITS ETF (HTWD.L) has a volatility of 10.99%. This indicates that HSTE.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.

Loading charts...

Volatility by Period

HSTE.LHTWD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.04%

10.99%

-2.95%

Volatility (6M)

Calculated over the trailing 6-month period

21.08%

23.75%

-2.67%

Volatility (1Y)

Calculated over the trailing 1-year period

28.05%

27.32%

+0.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.45%

23.58%

+15.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

53.48%

21.64%

+31.84%

HSTE.L vs. HTWD.L - Expense Ratio Comparison

Both HSTE.L and HTWD.L have an expense ratio of 0.50%.

Dividends

HSTE.L vs. HTWD.L - Dividend Comparison

HSTE.L has not paid dividends to shareholders, while HTWD.L's dividend yield for the trailing twelve months is around 1.04%.

PositionTTM20252024202320222021202020192018201720162015
HSTE.L
HSBC Hang Seng Tech UCITS ETF		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		1.04%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

HSTE.L and HTWD.L have a correlation of 0.48, 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.

HSTE.L and HTWD.L have the same expense ratio: 0.50% per year.

HSTE.L tracks MSCI World/Information Tech NR USD, while HTWD.L tracks HSBC MSCI Taiwan Capped UCITS ETF.

Portfolio Optimizer

Find the right allocation for HSTE.L and HTWD.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer