XMTW.L vs. XMAS.L

Last updated Jun 5, 2026

XMTW.L (Xtrackers MSCI Taiwan UCITS ETF 1C) and XMAS.L (Xtrackers MSCI EM Asia ESG Screened Swap UCITS ETF 1C) are both Asia Pacific Equities funds from Xtrackers - XMTW.L tracks the MSCI Taiwan NR USD while XMAS.L tracks the MSCI AC Asia Ex Japan NR USD. Both are passively managed. Over the past 10 years, XMTW.L returned 23.25%/yr vs 12.25%/yr for XMAS.L. A 0.56 correlation means they provide meaningful diversification when combined. Both charge a 0.65% expense ratio.

Performance

XMTW.L vs. XMAS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI Taiwan UCITS ETF 1C (XMTW.L) and Xtrackers MSCI EM Asia ESG Screened Swap UCITS ETF 1C (XMAS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XMTW.L achieves a 67.90% return, which is significantly higher than XMAS.L's 32.61% return. Over the past 10 years, XMTW.L has outperformed XMAS.L with an annualized return of 23.25%, while XMAS.L has yielded a comparatively lower 12.25% annualized return.

XMTW.L

• 1D: -1.55%
• 1M: 14.93%
• YTD: 67.90%
• 6M: 73.86%
• 1Y: 118.61%
• 3Y*: 41.00%
• 5Y*: 23.21%
• 10Y*: 23.25%

XMAS.L

• 1D: -1.96%
• 1M: 9.32%
• YTD: 32.61%
• 6M: 35.11%
• 1Y: 63.40%
• 3Y*: 24.06%
• 5Y*: 9.51%
• 10Y*: 12.25%

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

XMTW.L vs. XMAS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XMTW.L Xtrackers MSCI Taiwan UCITS ETF 1C	67.90%	23.98%	25.99%	21.66%	-21.11%	28.96%	32.40%	29.87%	-3.71%	16.78%
XMAS.L Xtrackers MSCI EM Asia ESG Screened Swap UCITS ETF 1C	32.61%	25.07%	17.38%	-2.13%	-11.07%	-5.15%	22.90%	14.01%	-10.84%	30.08%

Correlation

The correlation between XMTW.L and XMAS.L is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Oct 9, 2007	0.56

Over the past year, XMTW.L and XMAS.L have become more correlated (0.82) than their long-term average of 0.56, meaning their price movements have been converging.

XMTW.L vs. XMAS.L - Sectors Allocation Comparison

Sectors	XMTW.L	XMAS.L
Technology	78.9%	38.0%
Financial Services	11.8%	8.6%
Industrials	2.8%	17.2%
Basic Materials	2.4%	0.2%
Communication Services	1.5%	9.7%
Consumer Cyclical	1.2%	6.4%
Consumer Defensive	0.8%	4.1%
Healthcare	0.6%	14.3%
Energy	-	0.0%
Real Estate	-	0.9%
Utilities	-	0.4%

Return for Risk

XMTW.L vs. XMAS.L — Risk / Return Rank

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

XMTW.L

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

XMAS.L

XMAS.L Risk / Return Rank: 91
XMAS.L Sharpe Ratio Rank: 93
XMAS.L Sortino Ratio Rank: 91
XMAS.L Omega Ratio Rank: 92
XMAS.L Calmar Ratio Rank: 90
XMAS.L Martin Ratio Rank: 87

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.

XMTW.L vs. XMAS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Taiwan UCITS ETF 1C (XMTW.L) and Xtrackers MSCI EM Asia ESG Screened Swap UCITS ETF 1C (XMAS.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.

	XMTW.L	XMAS.L	Difference
Sharpe ratio: Return per unit of total volatility	5.22	3.37	+1.85
Sortino ratio: Return per unit of downside risk	5.92	4.27	+1.65
Omega ratio: Gain probability vs. loss probability	1.84	1.60	+0.24
Calmar ratio: Return relative to maximum drawdown	13.03	5.42	+7.61
Martin ratio: Return relative to average drawdown	36.03	18.46	+17.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMTW.L vs. XMAS.L - Sharpe Ratio Comparison

The current XMTW.L Sharpe Ratio is 5.22, which is higher than the XMAS.L Sharpe Ratio of 3.37. The chart below compares the historical Sharpe Ratios of XMTW.L and XMAS.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

	XMTW.L	XMAS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.22	3.37	+1.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.13	0.68	+0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.16	0.83	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.43	+0.24

Drawdowns

XMTW.L vs. XMAS.L - Drawdown Comparison

The maximum XMTW.L drawdown since its inception was -47.86%, smaller than the maximum XMAS.L drawdown of -55.27%. Use the drawdown chart below to compare losses from any high point for XMTW.L and XMAS.L.

Drawdown Indicators

	XMTW.L	XMAS.L	Difference
Max Drawdown Largest peak-to-trough decline	-47.86%	-55.27%	+7.41%
Max Drawdown (1Y) Largest decline over 1 year	-9.05%	-11.65%	+2.60%
Max Drawdown (3Y) Largest decline over 3 years	-28.76%	-17.75%	-11.01%
Max Drawdown (5Y) Largest decline over 5 years	-30.18%	-28.81%	-1.37%
Max Drawdown (10Y) Largest decline over 10 years	-30.18%	-34.23%	+4.05%
Current Drawdown Current decline from peak	-1.57%	-2.73%	+1.16%
Average Drawdown Average peak-to-trough decline	-8.70%	-11.62%	+2.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	3.42%	-0.14%

Volatility

XMTW.L vs. XMAS.L - Volatility Comparison

Xtrackers MSCI Taiwan UCITS ETF 1C (XMTW.L) has a higher volatility of 9.41% compared to Xtrackers MSCI EM Asia ESG Screened Swap UCITS ETF 1C (XMAS.L) at 8.50%. This indicates that XMTW.L's price experiences larger fluctuations and is considered to be riskier than XMAS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMTW.L	XMAS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.41%	8.50%	+0.91%
Volatility (6M) Calculated over the trailing 6-month period	18.21%	15.87%	+2.34%
Volatility (1Y) Calculated over the trailing 1-year period	22.59%	18.77%	+3.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.47%	22.27%	-1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.06%	22.61%	-2.55%

XMTW.L vs. XMAS.L - Expense Ratio Comparison

Both XMTW.L and XMAS.L have an expense ratio of 0.65%.

Dividends

XMTW.L vs. XMAS.L - Dividend Comparison

Neither XMTW.L nor XMAS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XMTW.L and XMAS.L in my portfolio?

XMTW.L and XMAS.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XMTW.L or XMAS.L?

Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XMTW.L or XMAS.L?

XMTW.L and XMAS.L have the same expense ratio: 0.65% per year.

What is the main difference between XMTW.L and XMAS.L?

XMTW.L tracks MSCI Taiwan NR USD, while XMAS.L tracks MSCI AC Asia Ex Japan NR USD.