HTWD.L vs. ISDE.L
HTWD.L (HSBC MSCI Taiwan Capped UCITS ETF USD (Dist)) and ISDE.L (iShares MSCI EM Islamic UCITS ETF USD (Dist)) are both Emerging Markets Equities funds - HTWD.L tracks the MSCI Taiwan Capped Index while ISDE.L tracks the MSCI Emerging Markets Islamic Index. Both are passively managed. Over the past 10 years, HTWD.L returned 20.23%/yr vs 10.80%/yr for ISDE.L. A 0.79 correlation means they provide meaningful diversification when combined. HTWD.L charges 0.50%/yr vs 0.85%/yr for ISDE.L.
Performance
HTWD.L vs. ISDE.L - Performance Comparison
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Returns By Period
In the year-to-date period, HTWD.L achieves a 51.61% return, which is significantly higher than ISDE.L's 38.21% return. Over the past 10 years, HTWD.L has outperformed ISDE.L with an annualized return of 20.23%, while ISDE.L has yielded a comparatively lower 10.80% annualized return.
HTWD.L
- 1D
- -4.13%
- 1M
- -10.54%
- 6M
- 42.37%
- YTD
- 51.61%
- 1Y
- 73.67%
- 3Y*
- 38.33%
- 5Y*
- 19.33%
- 10Y*
- 20.23%
ISDE.L
- 1D
- -2.17%
- 1M
- -15.35%
- 6M
- 28.14%
- YTD
- 38.21%
- 1Y
- 66.38%
- 3Y*
- 23.97%
- 5Y*
- 9.96%
- 10Y*
- 10.80%
HTWD.L vs. ISDE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HTWD.L HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) | 51.61% | 32.26% | 25.40% | 28.98% | -29.41% | 27.78% | 36.62% | 33.56% | -8.71% | 27.16% |
ISDE.L iShares MSCI EM Islamic UCITS ETF USD (Dist) | 38.21% | 39.00% | -3.54% | 14.04% | -22.75% | 2.66% | 22.18% | 19.37% | -17.23% | 41.70% |
Correlation
The correlation between HTWD.L and ISDE.L is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2011 | 0.79 |
The correlation between HTWD.L and ISDE.L has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.
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Return for Risk
HTWD.L vs. ISDE.L — Risk / Return Rank
HTWD.L
ISDE.L
HTWD.L vs. ISDE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) (HTWD.L) and iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.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 | ISDE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.39 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 5.31 | 3.56 | +1.75 |
| Martin ratioReturn relative to average drawdown | 17.31 | 12.95 | +4.36 |
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Drawdowns
HTWD.L vs. ISDE.L - Drawdown Comparison
The maximum HTWD.L drawdown since its inception was -41.06%, smaller than the maximum ISDE.L drawdown of -65.53%. Use the drawdown chart below to compare losses from any high point for HTWD.L and ISDE.L.
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Drawdown Indicators
| HTWD.L | ISDE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.06% | -65.53% | +24.47% |
Max Drawdown (1Y)Largest decline over 1 year | -13.80% | -18.56% | +4.76% |
Max Drawdown (3Y)Largest decline over 3 years | -28.22% | -21.83% | -6.39% |
Max Drawdown (5Y)Largest decline over 5 years | -41.06% | -32.16% | -8.90% |
Max Drawdown (10Y)Largest decline over 10 years | -41.06% | -36.64% | -4.42% |
Current DrawdownCurrent decline from peak | -13.80% | -18.56% | +4.76% |
Average DrawdownAverage peak-to-trough decline | -9.66% | -22.77% | +13.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.24% | 5.11% | -0.87% |
Volatility
HTWD.L vs. ISDE.L - Volatility Comparison
The current volatility for HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) (HTWD.L) is 11.37%, while iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L) has a volatility of 14.06%. This indicates that HTWD.L experiences smaller price fluctuations and is considered to be less risky than ISDE.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 | ISDE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.37% | 14.06% | -2.69% |
Volatility (6M)Calculated over the trailing 6-month period | 24.13% | 27.81% | -3.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.64% | 29.85% | -2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.64% | 20.61% | +3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.67% | 20.36% | +1.31% |
HTWD.L vs. ISDE.L - Expense Ratio Comparison
HTWD.L has a 0.50% expense ratio, which is lower than ISDE.L's 0.85% expense ratio.
Dividends
HTWD.L vs. ISDE.L - Dividend Comparison
HTWD.L's dividend yield for the trailing twelve months is around 1.08%, less than ISDE.L's 1.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ISDE.L iShares MSCI EM Islamic UCITS ETF USD (Dist) | 1.25% | 1.06% | 2.51% | 2.77% | 2.10% | 1.79% | 0.98% | 1.55% | 1.64% | 1.02% | 1.07% | 2.32% |
Frequently Asked Questions
HTWD.L and ISDE.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.85% for ISDE.L.
HTWD.L tracks MSCI Taiwan Capped Index, while ISDE.L tracks MSCI Emerging Markets Islamic Index. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.50% for HTWD.L and 0.85% for ISDE.L.
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