HTWD.L vs. XDEX.L
HTWD.L (HSBC MSCI Taiwan Capped UCITS ETF USD (Dist)) and XDEX.L (Xtrackers MSCI Emerging Markets ESG Screened UCITS ETF 1C) are both Emerging Markets Equities funds - HTWD.L tracks the MSCI Taiwan Capped Index while XDEX.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 10 years, HTWD.L returned 20.23%/yr vs 12.09%/yr for XDEX.L. A 0.71 correlation means they provide meaningful diversification when combined. HTWD.L charges 0.50%/yr vs 0.18%/yr for XDEX.L.
Performance
HTWD.L vs. XDEX.L - Performance Comparison
Loading charts...
Different Trading Currencies
HTWD.L is traded in USD, while XDEX.L is traded in GBp. To make them comparable, the XDEX.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HTWD.L achieves a 51.61% return, which is significantly higher than XDEX.L's 25.49% return. Over the past 10 years, HTWD.L has outperformed XDEX.L with an annualized return of 20.23%, while XDEX.L has yielded a comparatively lower 12.09% 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%
XDEX.L
- 1D
- -1.62%
- 1M
- -11.02%
- 6M
- 18.42%
- YTD
- 25.49%
- 1Y
- 46.70%
- 3Y*
- 20.64%
- 5Y*
- 9.98%
- 10Y*
- 12.09%
HTWD.L vs. XDEX.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% |
XDEX.L Xtrackers MSCI Emerging Markets ESG Screened UCITS ETF 1C | 25.49% | 37.83% | 1.15% | 8.32% | -19.84% | 18.99% | 16.36% | 26.83% | -10.00% | 25.00% |
Correlation
The correlation between HTWD.L and XDEX.L is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2015 | 0.71 |
The correlation between HTWD.L and XDEX.L shifts across timeframes, from 0.70 (10 years) to 0.86 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HTWD.L vs. XDEX.L — Risk / Return Rank
HTWD.L
XDEX.L
HTWD.L vs. XDEX.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 Xtrackers MSCI Emerging Markets ESG Screened UCITS ETF 1C (XDEX.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 | XDEX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.36 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 5.31 | 3.10 | +2.21 |
| Martin ratioReturn relative to average drawdown | 17.31 | 10.12 | +7.19 |
Loading charts...
Drawdowns
HTWD.L vs. XDEX.L - Drawdown Comparison
The maximum HTWD.L drawdown since its inception was -41.06%, which is greater than XDEX.L's maximum drawdown of -32.75%. Use the drawdown chart below to compare losses from any high point for HTWD.L and XDEX.L.
Loading charts...
Drawdown Indicators
| HTWD.L | XDEX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.06% | -32.75% | -8.31% |
Max Drawdown (1Y)Largest decline over 1 year | -13.80% | -14.99% | +1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -28.22% | -19.39% | -8.83% |
Max Drawdown (5Y)Largest decline over 5 years | -41.06% | -30.61% | -10.45% |
Max Drawdown (10Y)Largest decline over 10 years | -41.06% | -32.75% | -8.31% |
Current DrawdownCurrent decline from peak | -13.80% | -14.15% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -9.66% | -6.97% | -2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.24% | 4.60% | -0.36% |
Volatility
HTWD.L vs. XDEX.L - Volatility Comparison
HSBC MSCI Taiwan Capped UCITS ETF USD (Dist) (HTWD.L) has a higher volatility of 11.37% compared to Xtrackers MSCI Emerging Markets ESG Screened UCITS ETF 1C (XDEX.L) at 10.76%. This indicates that HTWD.L's price experiences larger fluctuations and is considered to be riskier than XDEX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HTWD.L | XDEX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.37% | 10.76% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 24.13% | 22.02% | +2.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.64% | 23.82% | +3.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.64% | 18.67% | +4.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.67% | 17.31% | +4.36% |
HTWD.L vs. XDEX.L - Expense Ratio Comparison
HTWD.L has a 0.50% expense ratio, which is higher than XDEX.L's 0.18% expense ratio.
Dividends
HTWD.L vs. XDEX.L - Dividend Comparison
HTWD.L's dividend yield for the trailing twelve months is around 1.08%, while XDEX.L has not paid dividends to shareholders.
| 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% |
XDEX.L Xtrackers MSCI Emerging Markets ESG Screened UCITS ETF 1C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HTWD.L and XDEX.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XDEX.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XDEX.L is cheaper with a 0.18% expense ratio, compared with 0.50% for HTWD.L.
HTWD.L tracks MSCI Taiwan Capped Index, while XDEX.L tracks MSCI EM NR USD. They also come from different issuers: HSBC and Xtrackers. Their fees differ too: 0.50% for HTWD.L and 0.18% for XDEX.L.
Find the right allocation for HTWD.L and XDEX.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