IDAP.L vs. HTWN.L

Last updated Jun 5, 2026

IDAP.L (iShares Asia Pacific Dividend UCITS) and HTWN.L (HSBC MSCI Taiwan Capped UCITS ETF USD) are both Asia Pacific Equities funds - IDAP.L tracks the MSCI AC Asia Pacific NR USD while HTWN.L tracks the MSCI Taiwan NR USD. Both are passively managed. Over the past 10 years, IDAP.L returned 7.15%/yr vs 22.44%/yr for HTWN.L. At a 0.39 correlation, their price movements are largely independent. IDAP.L charges 0.59%/yr vs 0.50%/yr for HTWN.L.

Performance

IDAP.L vs. HTWN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Asia Pacific Dividend UCITS (IDAP.L) and HSBC MSCI Taiwan Capped UCITS ETF USD (HTWN.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IDAP.L is traded in USD, while HTWN.L is traded in GBp. To make them comparable, the HTWN.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IDAP.L achieves a 12.85% return, which is significantly lower than HTWN.L's 67.38% return. Over the past 10 years, IDAP.L has underperformed HTWN.L with an annualized return of 7.15%, while HTWN.L has yielded a comparatively higher 22.44% annualized return.

IDAP.L

• 1D: -0.38%
• 1M: -0.35%
• YTD: 12.85%
• 6M: 13.89%
• 1Y: 38.26%
• 3Y*: 21.67%
• 5Y*: 9.72%
• 10Y*: 7.15%

HTWN.L

• 1D: -2.03%
• 1M: 13.49%
• YTD: 67.38%
• 6M: 74.66%
• 1Y: 115.64%
• 3Y*: 44.91%
• 5Y*: 22.12%
• 10Y*: 22.44%

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

IDAP.L vs. HTWN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IDAP.L iShares Asia Pacific Dividend UCITS	12.85%	29.69%	6.18%	13.48%	-1.96%	3.39%	-9.38%	13.90%	-15.23%	17.00%
HTWN.L HSBC MSCI Taiwan Capped UCITS ETF USD	67.38%	32.44%	25.37%	28.02%	-29.25%	28.27%	36.87%	34.70%	-8.69%	26.34%

Correlation

The correlation between IDAP.L and HTWN.L is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Apr 5, 2011	0.39

The correlation between IDAP.L and HTWN.L shifts across timeframes, from 0.39 (all time) to 0.56 (5 years), reflecting how their relationship changes across market environments.

IDAP.L vs. HTWN.L - Sectors Allocation Comparison

Sectors	IDAP.L	HTWN.L
Financial Services	30.9%	10.4%
Basic Materials	16.1%	1.9%
Consumer Cyclical	10.9%	1.1%
Real Estate	10.6%	-
Industrials	7.1%	2.3%
Consumer Defensive	5.2%	0.7%
Energy	5.1%	-
Communication Services	4.7%	1.3%
Utilities	4.5%	-
Healthcare	3.5%	0.6%
Technology	1.6%	81.7%

Return for Risk

IDAP.L vs. HTWN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IDAP.L

IDAP.L Risk / Return Rank: 86
IDAP.L Sharpe Ratio Rank: 89
IDAP.L Sortino Ratio Rank: 89
IDAP.L Omega Ratio Rank: 86
IDAP.L Calmar Ratio Rank: 83
IDAP.L Martin Ratio Rank: 84

HTWN.L

HTWN.L Risk / Return Rank: 97
HTWN.L Sharpe Ratio Rank: 98
HTWN.L Sortino Ratio Rank: 97
HTWN.L Omega Ratio Rank: 96
HTWN.L Calmar Ratio Rank: 98
HTWN.L Martin Ratio Rank: 96

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.

IDAP.L vs. HTWN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Asia Pacific Dividend UCITS (IDAP.L) and HSBC MSCI Taiwan Capped UCITS ETF USD (HTWN.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.

	IDAP.L	HTWN.L	Difference
Sharpe ratio: Return per unit of total volatility	2.95	4.70	-1.75
Sortino ratio: Return per unit of downside risk	4.06	5.59	-1.54
Omega ratio: Gain probability vs. loss probability	1.52	1.72	-0.21
Calmar ratio: Return relative to maximum drawdown	4.34	10.32	-5.97
Martin ratio: Return relative to average drawdown	16.72	31.93	-15.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IDAP.L vs. HTWN.L - Sharpe Ratio Comparison

The current IDAP.L Sharpe Ratio is 2.95, which is lower than the HTWN.L Sharpe Ratio of 4.70. The chart below compares the historical Sharpe Ratios of IDAP.L and HTWN.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.

Sharpe Ratios by Period

	IDAP.L	HTWN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.95	4.70	-1.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.99	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	1.30	-0.87
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.97	-0.73

Drawdowns

IDAP.L vs. HTWN.L - Drawdown Comparison

The maximum IDAP.L drawdown since its inception was -69.37%, which is greater than HTWN.L's maximum drawdown of -41.09%. Use the drawdown chart below to compare losses from any high point for IDAP.L and HTWN.L.

Drawdown Indicators

	IDAP.L	HTWN.L	Difference
Max Drawdown Largest peak-to-trough decline	-69.37%	-41.09%	-28.28%
Max Drawdown (1Y) Largest decline over 1 year	-8.77%	-11.14%	+2.37%
Max Drawdown (3Y) Largest decline over 3 years	-18.62%	-28.02%	+9.40%
Max Drawdown (5Y) Largest decline over 5 years	-25.37%	-41.09%	+15.72%
Max Drawdown (10Y) Largest decline over 10 years	-45.71%	-41.09%	-4.62%
Current Drawdown Current decline from peak	-3.01%	-2.03%	-0.98%
Average Drawdown Average peak-to-trough decline	-11.15%	-9.52%	-1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	3.61%	-1.33%

Volatility

IDAP.L vs. HTWN.L - Volatility Comparison

The current volatility for iShares Asia Pacific Dividend UCITS (IDAP.L) is 4.29%, while HSBC MSCI Taiwan Capped UCITS ETF USD (HTWN.L) has a volatility of 10.19%. This indicates that IDAP.L experiences smaller price fluctuations and is considered to be less risky than HTWN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDAP.L	HTWN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.29%	10.19%	-5.90%
Volatility (6M) Calculated over the trailing 6-month period	10.41%	19.91%	-9.50%
Volatility (1Y) Calculated over the trailing 1-year period	12.92%	24.48%	-11.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.81%	22.92%	-8.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.73%	24.73%	-8.00%

IDAP.L vs. HTWN.L - Expense Ratio Comparison

IDAP.L has a 0.59% expense ratio, which is higher than HTWN.L's 0.50% expense ratio.

Dividends

IDAP.L vs. HTWN.L - Dividend Comparison

IDAP.L's dividend yield for the trailing twelve months is around 3.65%, more than HTWN.L's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HTWN.L HSBC MSCI Taiwan Capped UCITS ETF USD	0.97%	1.61%	1.17%	2.79%	3.04%	1.11%	1.79%	2.12%	2.55%	2.04%	2.32%	2.61%
IDAP.L iShares Asia Pacific Dividend UCITS	3.65%	4.22%	5.36%	5.72%	6.92%	5.59%	3.49%	5.52%	6.04%	4.55%	4.54%	5.47%

Frequently Asked Questions

Can I hold both IDAP.L and HTWN.L in my portfolio?

IDAP.L and HTWN.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IDAP.L or HTWN.L?

On fees, HTWN.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, IDAP.L or HTWN.L?

HTWN.L is cheaper with a 0.50% expense ratio, compared with 0.59% for IDAP.L.

What is the main difference between IDAP.L and HTWN.L?

IDAP.L tracks MSCI AC Asia Pacific NR USD, while HTWN.L tracks MSCI Taiwan NR USD. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.59% for IDAP.L and 0.50% for HTWN.L.