IDTW.L vs. EMAD.L
IDTW.L (iShares MSCI Taiwan UCITS ETF USD (Dist)) and EMAD.L (State Street SPDR MSCI EM Asia UCITS ETF USD (Acc)) are both exchange-traded funds - IDTW.L is a Technology Equities fund tracking the MSCI Taiwan 20/35 Index (Net) (USD), while EMAD.L is a Asia Pacific Equities fund tracking the MSCI EM (Emerging Markets) Asia Index. Both are passively managed. Over the past 10 years, IDTW.L returned 19.92%/yr vs 9.49%/yr for EMAD.L. A 0.74 correlation means they provide meaningful diversification when combined. IDTW.L charges 0.74%/yr vs 0.55%/yr for EMAD.L.
Performance
IDTW.L vs. EMAD.L - Performance Comparison
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Returns By Period
In the year-to-date period, IDTW.L achieves a 51.77% return, which is significantly higher than EMAD.L's 18.88% return. Over the past 10 years, IDTW.L has outperformed EMAD.L with an annualized return of 19.92%, while EMAD.L has yielded a comparatively lower 9.49% annualized return.
IDTW.L
- 1D
- -3.99%
- 1M
- -10.58%
- 6M
- 42.72%
- YTD
- 51.77%
- 1Y
- 73.35%
- 3Y*
- 37.69%
- 5Y*
- 18.84%
- 10Y*
- 19.92%
EMAD.L
- 1D
- -2.28%
- 1M
- -11.14%
- 6M
- 11.94%
- YTD
- 18.88%
- 1Y
- 31.93%
- 3Y*
- 20.12%
- 5Y*
- 6.07%
- 10Y*
- 9.49%
IDTW.L vs. EMAD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IDTW.L iShares MSCI Taiwan UCITS ETF USD (Dist) | 51.77% | 31.78% | 23.61% | 28.84% | -29.55% | 28.51% | 34.35% | 34.44% | -9.12% | 28.06% |
EMAD.L State Street SPDR MSCI EM Asia UCITS ETF USD (Acc) | 18.88% | 32.13% | 11.12% | 6.54% | -21.75% | -6.15% | 28.24% | 16.78% | -14.40% | 42.49% |
Correlation
The correlation between IDTW.L and EMAD.L is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since May 16, 2011 | 0.74 |
The correlation between IDTW.L and EMAD.L shifts across timeframes, from 0.74 (all time) to 0.85 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IDTW.L vs. EMAD.L — Risk / Return Rank
IDTW.L
EMAD.L
IDTW.L vs. EMAD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan UCITS ETF USD (Dist) (IDTW.L) and State Street SPDR MSCI EM Asia UCITS ETF USD (Acc) (EMAD.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.
| IDTW.L | EMAD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.25 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 5.05 | 2.36 | +2.68 |
| Martin ratioReturn relative to average drawdown | 16.48 | 6.96 | +9.52 |
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Drawdowns
IDTW.L vs. EMAD.L - Drawdown Comparison
The maximum IDTW.L drawdown since its inception was -60.07%, which is greater than EMAD.L's maximum drawdown of -46.17%. Use the drawdown chart below to compare losses from any high point for IDTW.L and EMAD.L.
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Drawdown Indicators
| IDTW.L | EMAD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.07% | -46.17% | -13.90% |
Max Drawdown (1Y)Largest decline over 1 year | -14.46% | -13.45% | -1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -28.24% | -20.03% | -8.21% |
Max Drawdown (5Y)Largest decline over 5 years | -40.98% | -38.79% | -2.19% |
Max Drawdown (10Y)Largest decline over 10 years | -40.98% | -46.17% | +5.19% |
Current DrawdownCurrent decline from peak | -14.46% | -13.45% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -12.59% | -14.72% | +2.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.44% | 4.58% | -0.14% |
Volatility
IDTW.L vs. EMAD.L - Volatility Comparison
iShares MSCI Taiwan UCITS ETF USD (Dist) (IDTW.L) has a higher volatility of 12.06% compared to State Street SPDR MSCI EM Asia UCITS ETF USD (Acc) (EMAD.L) at 9.76%. This indicates that IDTW.L's price experiences larger fluctuations and is considered to be riskier than EMAD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IDTW.L | EMAD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.06% | 9.76% | +2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 24.76% | 21.25% | +3.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.27% | 23.65% | +4.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.97% | 20.82% | +3.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.41% | 20.16% | +2.25% |
IDTW.L vs. EMAD.L - Expense Ratio Comparison
IDTW.L has a 0.74% expense ratio, which is higher than EMAD.L's 0.55% expense ratio.
Dividends
IDTW.L vs. EMAD.L - Dividend Comparison
IDTW.L's dividend yield for the trailing twelve months is around 0.99%, while EMAD.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMAD.L State Street SPDR MSCI EM Asia UCITS ETF USD (Acc) | 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) | 0.99% | 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
IDTW.L and EMAD.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMAD.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMAD.L is cheaper with a 0.55% expense ratio, compared with 0.74% for IDTW.L.
IDTW.L is categorized as Technology Equities, while EMAD.L is Asia Pacific Equities. IDTW.L tracks MSCI Taiwan 20/35 Index (Net) (USD), while EMAD.L tracks MSCI EM (Emerging Markets) Asia Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.74% for IDTW.L and 0.55% for EMAD.L.
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