XLKS.L vs. HTWD.L

Last updated Jul 16, 2026

XLKS.L (Invesco Technology S&P US Select Sector UCITS ETF Acc) and HTWD.L (HSBC MSCI Taiwan Capped UCITS ETF) are both Technology Equities funds - XLKS.L tracks the S&P® Select Sector Capped 20% Technology Index while HTWD.L tracks the HSBC MSCI Taiwan Capped UCITS ETF. Both are passively managed. Over the past 10 years, XLKS.L returned 25.36%/yr vs 20.62%/yr for HTWD.L. A 0.63 correlation means they provide meaningful diversification when combined. XLKS.L charges 0.14%/yr vs 0.50%/yr for HTWD.L.

Performance

XLKS.L vs. HTWD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Technology S&P US Select Sector UCITS ETF Acc (XLKS.L) and HSBC MSCI Taiwan Capped UCITS ETF (HTWD.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLKS.L achieves a 17.68% return, which is significantly lower than HTWD.L's 57.53% return. Over the past 10 years, XLKS.L has outperformed HTWD.L with an annualized return of 25.36%, while HTWD.L has yielded a comparatively lower 20.62% annualized return.

XLKS.L

• 1D: -0.94%
• 1M: -2.87%
• 6M: 20.28%
• YTD: 17.68%
• 1Y: 32.56%
• 3Y*: 31.32%
• 5Y*: 22.18%
• 10Y*: 25.36%

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%

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

XLKS.L vs. HTWD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLKS.L Invesco Technology S&P US Select Sector UCITS ETF Acc	17.68%	24.23%	41.72%	60.64%	-29.12%	34.73%	42.78%	48.83%	-2.51%	33.27%
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%

Correlation

The correlation between XLKS.L and HTWD.L is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Mar 30, 2011	0.63

The correlation between XLKS.L and HTWD.L shifts across timeframes, from 0.63 (all time) to 0.73 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XLKS.L vs. HTWD.L — Risk / Return Rank

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

XLKS.L

XLKS.L Risk / Return Rank: 48
XLKS.L Sharpe Ratio Rank: 53
XLKS.L Sortino Ratio Rank: 52
XLKS.L Omega Ratio Rank: 49
XLKS.L Calmar Ratio Rank: 46
XLKS.L Martin Ratio Rank: 40

HTWD.L

HTWD.L Risk / Return Rank: 94
HTWD.L Sharpe Ratio Rank: 95
HTWD.L Sortino Ratio Rank: 92
HTWD.L Omega Ratio Rank: 92
HTWD.L Calmar Ratio Rank: 96
HTWD.L Martin Ratio Rank: 94

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.

XLKS.L vs. HTWD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Technology S&P US Select Sector UCITS ETF Acc (XLKS.L) and HSBC MSCI Taiwan Capped UCITS ETF (HTWD.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.

	XLKS.L	HTWD.L	Difference
Sharpe ratio: Return per unit of total volatility	1.48	3.04	-1.56
Sortino ratio: Return per unit of downside risk	2.09	3.68	-1.59
Omega ratio: Gain probability vs. loss probability	1.25	1.49	-0.23
Calmar ratio: Return relative to maximum drawdown	1.91	7.40	-5.49
Martin ratio: Return relative to average drawdown	5.17	20.03	-14.86

XLKS.L vs. HTWD.L - Sharpe Ratio Comparison

The current XLKS.L Sharpe Ratio is 1.48, which is lower than the HTWD.L Sharpe Ratio of 3.04. The chart below compares the historical Sharpe Ratios of XLKS.L and HTWD.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.

Drawdowns

XLKS.L vs. HTWD.L - Drawdown Comparison

The maximum XLKS.L drawdown since its inception was -34.26%, smaller than the maximum HTWD.L drawdown of -41.06%. Use the drawdown chart below to compare losses from any high point for XLKS.L and HTWD.L.

Drawdown Indicators

	XLKS.L	HTWD.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.26%	-41.06%	+6.80%
Max Drawdown (1Y) Largest decline over 1 year	-16.99%	-11.22%	-5.77%
Max Drawdown (3Y) Largest decline over 3 years	-26.97%	-28.22%	+1.25%
Max Drawdown (5Y) Largest decline over 5 years	-34.26%	-41.06%	+6.80%
Max Drawdown (10Y) Largest decline over 10 years	-34.26%	-41.06%	+6.80%
Current Drawdown Current decline from peak	-7.74%	-10.43%	+2.69%
Average Drawdown Average peak-to-trough decline	-5.14%	-9.65%	+4.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.28%	4.16%	+2.12%

Volatility

XLKS.L vs. HTWD.L - Volatility Comparison

The current volatility for Invesco Technology S&P US Select Sector UCITS ETF Acc (XLKS.L) is 7.31%, while HSBC MSCI Taiwan Capped UCITS ETF (HTWD.L) has a volatility of 10.99%. This indicates that XLKS.L experiences smaller price fluctuations and is considered to be less risky than HTWD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLKS.L	HTWD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.31%	10.99%	-3.68%
Volatility (6M) Calculated over the trailing 6-month period	17.62%	23.75%	-6.13%
Volatility (1Y) Calculated over the trailing 1-year period	22.00%	27.32%	-5.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.13%	23.58%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.18%	21.64%	+0.54%

XLKS.L vs. HTWD.L - Expense Ratio Comparison

XLKS.L has a 0.14% expense ratio, which is lower than HTWD.L's 0.50% expense ratio.

Dividends

XLKS.L vs. HTWD.L - Dividend Comparison

XLKS.L has not paid dividends to shareholders, while HTWD.L's dividend yield for the trailing twelve months is around 1.04%.

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%
XLKS.L Invesco Technology S&P US Select Sector UCITS ETF 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%

Frequently Asked Questions

Can I hold both XLKS.L and HTWD.L in my portfolio?

XLKS.L and HTWD.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLKS.L or HTWD.L?

On fees, XLKS.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLKS.L or HTWD.L?

XLKS.L is cheaper with a 0.14% expense ratio, compared with 0.50% for HTWD.L.

What is the main difference between XLKS.L and HTWD.L?

XLKS.L tracks S&P® Select Sector Capped 20% Technology Index, while HTWD.L tracks HSBC MSCI Taiwan Capped UCITS ETF. They also come from different issuers: Invesco and HSBC. Their fees differ too: 0.14% for XLKS.L and 0.50% for HTWD.L.