HTWD.L vs. IDTW.L
HTWD.L (HSBC MSCI Taiwan Capped UCITS ETF) and IDTW.L (iShares MSCI Taiwan UCITS ETF USD (Dist)) are both Technology Equities funds - HTWD.L tracks the HSBC MSCI Taiwan Capped UCITS ETF while IDTW.L tracks the iShares MSCI Taiwan UCITS ETF USD (Dist). Both are passively managed. Over the past 10 years, HTWD.L returned 20.62%/yr vs 20.33%/yr for IDTW.L. With a 0.99 correlation, they move nearly in lockstep. HTWD.L charges 0.50%/yr vs 0.74%/yr for IDTW.L.
Performance
HTWD.L vs. IDTW.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HTWD.L having a 57.53% return and IDTW.L slightly higher at 57.81%. Both investments have delivered pretty close results over the past 10 years, with HTWD.L having a 20.62% annualized return and IDTW.L not far behind at 20.33%.
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%
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%
HTWD.L vs. IDTW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HTWD.L HSBC MSCI Taiwan Capped UCITS ETF | 57.53% | 32.26% | 25.40% | 28.98% | -29.41% | 27.78% | 36.62% | 33.56% | -8.71% | 27.16% |
IDTW.L iShares MSCI Taiwan UCITS ETF USD (Dist) | 57.81% | 31.78% | 23.61% | 28.84% | -29.55% | 28.51% | 34.35% | 34.44% | -9.12% | 28.06% |
Correlation
The correlation between HTWD.L and IDTW.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2011 | 0.99 |
The correlation between HTWD.L and IDTW.L has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
HTWD.L vs. IDTW.L — Risk / Return Rank
HTWD.L
IDTW.L
HTWD.L vs. IDTW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Taiwan Capped UCITS ETF (HTWD.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.
| HTWD.L | IDTW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.48 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 7.40 | 7.24 | +0.16 |
| Martin ratioReturn relative to average drawdown | 20.03 | 19.11 | +0.91 |
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Drawdowns
HTWD.L vs. IDTW.L - Drawdown Comparison
The maximum HTWD.L drawdown since its inception was -41.06%, smaller than the maximum IDTW.L drawdown of -60.07%. Use the drawdown chart below to compare losses from any high point for HTWD.L and IDTW.L.
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Drawdown Indicators
| HTWD.L | IDTW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.06% | -60.07% | +19.01% |
Max Drawdown (1Y)Largest decline over 1 year | -11.22% | -11.44% | +0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -28.22% | -28.24% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -41.06% | -40.98% | -0.08% |
Max Drawdown (10Y)Largest decline over 10 years | -41.06% | -40.98% | -0.08% |
Current DrawdownCurrent decline from peak | -10.43% | -11.06% | +0.63% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -12.59% | +2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 4.34% | -0.18% |
Volatility
HTWD.L vs. IDTW.L - Volatility Comparison
The current volatility for HSBC MSCI Taiwan Capped UCITS ETF (HTWD.L) is 10.99%, while iShares MSCI Taiwan UCITS ETF USD (Dist) (IDTW.L) has a volatility of 11.69%. This indicates that HTWD.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.
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Volatility by Period
| HTWD.L | IDTW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.99% | 11.69% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 23.75% | 24.41% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.32% | 27.97% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.58% | 23.91% | -0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.64% | 22.38% | -0.74% |
HTWD.L vs. IDTW.L - Expense Ratio Comparison
HTWD.L has a 0.50% expense ratio, which is lower than IDTW.L's 0.74% expense ratio.
Dividends
HTWD.L vs. IDTW.L - Dividend Comparison
HTWD.L's dividend yield for the trailing twelve months is around 1.04%, more than IDTW.L's 0.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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
With a correlation of 0.97, HTWD.L and IDTW.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, HTWD.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HTWD.L is cheaper with a 0.50% expense ratio, compared with 0.74% for IDTW.L.
HTWD.L tracks HSBC MSCI Taiwan Capped UCITS ETF, 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 HTWD.L and 0.74% for IDTW.L.
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