HSTE.L vs. IDTW.L

Last updated Jul 16, 2026

HSTE.L (HSBC Hang Seng Tech UCITS ETF) and IDTW.L (iShares MSCI Taiwan UCITS ETF USD (Dist)) are both Technology Equities funds - HSTE.L tracks the MSCI World/Information Tech NR USD while IDTW.L tracks the iShares MSCI Taiwan UCITS ETF USD (Dist). Both are passively managed. Over the past 5 years, HSTE.L returned -8.55%/yr vs 19.77%/yr for IDTW.L. At a 0.45 correlation, their price movements are largely independent. HSTE.L charges 0.50%/yr vs 0.74%/yr for IDTW.L.

Performance

HSTE.L vs. IDTW.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 iShares MSCI Taiwan UCITS ETF USD (Dist) (IDTW.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HSTE.L achieves a -13.70% return, which is significantly lower than IDTW.L's 57.81% 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*: —

IDTW.L

• 1D: -1.85%
• 1M: -6.53%
• 6M: 50.70%
• YTD: 57.81%
• 1Y: 84.29%
• 3Y*: 39.37%
• 5Y*: 19.77%
• 10Y*: 20.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HSTE.L HSBC Hang Seng Tech UCITS ETF	-13.70%	24.64%	19.65%	-8.46%	-27.99%	-32.88%	-86.54%
IDTW.L iShares MSCI Taiwan UCITS ETF USD (Dist)	57.81%	31.78%	23.61%	28.84%	-29.55%	28.51%	2.29%

Correlation

The correlation between HSTE.L and IDTW.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
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

Return for Risk

HSTE.L vs. IDTW.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: 6
HSTE.L Sharpe Ratio Rank: 6
HSTE.L Sortino Ratio Rank: 5
HSTE.L Omega Ratio Rank: 6
HSTE.L Calmar Ratio Rank: 6
HSTE.L Martin Ratio Rank: 7

IDTW.L

IDTW.L Risk / Return Rank: 93
IDTW.L Sharpe Ratio Rank: 95
IDTW.L Sortino Ratio Rank: 91
IDTW.L Omega Ratio Rank: 91
IDTW.L Calmar Ratio Rank: 96
IDTW.L Martin Ratio Rank: 93

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. IDTW.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 iShares MSCI Taiwan UCITS ETF USD (Dist) (IDTW.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.L	IDTW.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.40	2.96	-3.37
Sortino ratio: Return per unit of downside risk	-0.40	3.56	-3.96
Omega ratio: Gain probability vs. loss probability	0.95	1.48	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.32	7.24	-7.56
Martin ratio: Return relative to average drawdown	-0.57	19.11	-19.69

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

The current HSTE.L Sharpe Ratio is -0.40, which is lower than the IDTW.L Sharpe Ratio of 2.96. The chart below compares the historical Sharpe Ratios of HSTE.L and IDTW.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.

Drawdowns

HSTE.L vs. IDTW.L - Drawdown Comparison

The maximum HSTE.L drawdown since its inception was -95.65%, which is greater than IDTW.L's maximum drawdown of -60.07%. Use the drawdown chart below to compare losses from any high point for HSTE.L and IDTW.L.

Drawdown Indicators

	HSTE.L	IDTW.L	Difference
Max Drawdown Largest peak-to-trough decline	-95.65%	-60.07%	-35.58%
Max Drawdown (1Y) Largest decline over 1 year	-35.09%	-11.44%	-23.65%
Max Drawdown (3Y) Largest decline over 3 years	-35.09%	-28.24%	-6.85%
Max Drawdown (5Y) Largest decline over 5 years	-63.71%	-40.98%	-22.73%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.98%	—
Current Drawdown Current decline from peak	-92.33%	-11.06%	-81.27%
Average Drawdown Average peak-to-trough decline	-91.81%	-12.59%	-79.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.67%	4.34%	+15.33%

Volatility

HSTE.L vs. IDTW.L - Volatility Comparison

The current volatility for HSBC Hang Seng Tech UCITS ETF (HSTE.L) is 8.04%, while iShares MSCI Taiwan UCITS ETF USD (Dist) (IDTW.L) has a volatility of 11.69%. This indicates that HSTE.L experiences smaller price fluctuations and is considered to be less risky than IDTW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HSTE.L	IDTW.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.04%	11.69%	-3.65%
Volatility (6M) Calculated over the trailing 6-month period	21.08%	24.41%	-3.33%
Volatility (1Y) Calculated over the trailing 1-year period	28.05%	27.97%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.45%	23.91%	+15.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.48%	22.38%	+31.10%

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

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

Dividends

HSTE.L vs. IDTW.L - Dividend Comparison

HSTE.L has not paid dividends to shareholders, while IDTW.L's dividend yield for the trailing twelve months is around 0.96%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
IDTW.L iShares MSCI Taiwan UCITS ETF USD (Dist)	0.96%	1.51%	1.43%	2.09%	3.39%	1.35%	1.73%	2.15%	2.78%	2.70%	3.10%	3.33%

Frequently Asked Questions

Can I hold both HSTE.L and IDTW.L in my portfolio?

HSTE.L and IDTW.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HSTE.L or IDTW.L?

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

Which ETF is cheaper, HSTE.L or IDTW.L?

HSTE.L is cheaper with a 0.50% expense ratio, compared with 0.74% for IDTW.L.

What is the main difference between HSTE.L and IDTW.L?

HSTE.L tracks MSCI World/Information Tech NR USD, while IDTW.L tracks iShares MSCI Taiwan UCITS ETF USD (Dist). They also come from different issuers: HSBC and iShares. Their fees differ too: 0.50% for HSTE.L and 0.74% for IDTW.L.