# HSBC MSCI TAIWAN UCITS ETF USD (HTWN)

**Page:** https://fundology.uk/fund/htwn · ISIN IE00B3S1J086

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, HTWN (HSBC MSCI TAIWAN UCITS ETF USD, ISIN IE00B3S1J086) closed at £116.59 on the London Stock Exchange. Its ongoing charge is 0.50% a year (about £50 on £10,000). Over the five years to 13/11/2026 its total return was +148.2%, or +93.7% after UK CPIH inflation.

## Summary

HSBC MSCI TAIWAN UCITS ETF USD is an exchange-traded fund (ETF) from HSBC, launched in 2011. It tracks the MSCI Taiwan Capped Index - Benchmark TR Net. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.5% a year — about £50 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year.

Latest close: **£116.59** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | HTWN |
| ISIN | IE00B3S1J086 |
| Also listed as | HTWD (London Stock Exchange, US dollars) |
| Category | Emerging markets |
| Type | ETF |
| Provider | HSBC |
| Tracks | MSCI Taiwan Capped Index - Benchmark TR Net |
| Income | Distributing |
| Ongoing charge | 0.50% a year (£50 per £10,000) |
| Fund size | £271m |
| Launched | 2011 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 30/03/2011 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +58.57% | +52.95% | income reinvested |
| 3 years | +168.53% | +142.61% | income reinvested |
| 5 years | +148.22% | +93.75% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of HSBC MSCI TAIWAN UCITS ETF USD in pounds (price only, income paid out not included): 2022 −23.0%, 2023 +18.3%, 2024 +26.3%, 2025 +21.8%; 2026 to 13/11/2026 +49.8%. Returns of HSBC MSCI TAIWAN UCITS ETF USD in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +84.9%; to 30/09/2025: +21.9%; to 30/09/2024: +32.9%; to 30/09/2023: +7.9%; to 30/09/2022: −15.4%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -23.0% | -29.5% | Price |
| 2023 | +18.3% | +13.6% | Price |
| 2024 | +26.3% | +22.0% | Price |
| 2025 | +21.8% | +17.6% | Price |
| 2026 to 13/11/2026 | +49.8% | +45.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 30.80% | -22.83% |
| 3 years | 24.59% | -23.69% |
| 5 years | 22.09% | -31.16% |

## Largest fall

Volatility of HSBC MSCI TAIWAN UCITS ETF USD in pounds, annualised from weekly returns to 13/11/2026: 30.8% over 1 year, 24.6% over 3 years, 22.1% over 5 years. Largest fall in the price of HSBC MSCI TAIWAN UCITS ETF USD since November 2021, in pounds: −31.2% from 14/01/2022 to 28/10/2022. The lowest 12-month return of HSBC MSCI TAIWAN UCITS ETF USD in pounds (price only, income paid out not included) since January 2021 was −23.3% (12 months to 28/10/2022); the highest was +116.7% (12 months to 19/06/2026). On 13/11/2026 the price of HSBC MSCI TAIWAN UCITS ETF USD was 16.4% below its highest weekly close since November 2021 (02/10/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of HSBC MSCI TAIWAN UCITS ETF USD 0.50% a year. Compared on 14/11/2026, 47 of the 151 other emerging-market share funds charge more, 12 the same and 92 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.50%** per year
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 06/11/2026, HTWN holds 75 positions, according to its published holdings. The largest is TSMC at 33.98% of the fund; the ten largest make up 61.5%.

### Top holdings

Largest positions (as of 06/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | TSMC | [2330](https://fundology.uk/stock/2330) | 33.98% |
| 2 | MediaTek | [2454](https://fundology.uk/stock/2454) | 7.84% |
| 3 | Hon Hai Precision Industry | [2317](https://fundology.uk/stock/2317) | 4.41% |
| 4 | Delta Electronics | [2308](https://fundology.uk/stock/2308) | 3.29% |
| 5 | ASE Technology | [3711](https://fundology.uk/stock/3711) | 2.82% |
| 6 | Fubon Financial | [2881](https://fundology.uk/stock/2881) | 1.99% |
| 7 | CTBC Financial | [2891](https://fundology.uk/stock/2891) | 1.96% |
| 8 | Nan Ya Plastics | [1303](https://fundology.uk/stock/1303) | 1.82% |
| 9 | Elite Material | [2383](https://fundology.uk/stock/2383) | 1.75% |
| 10 | United Microelectronics | [2303](https://fundology.uk/stock/2303) | 1.67% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By country

Added up from the fund’s published holdings, as of 03/11/2026.

| Country | Weight |
|---|---|
| Taiwan | 98.2% |
| United States | 1.3% |
| Not classified | 0.5% |

All 75 holdings: https://fundology.uk/fund/htwn/holdings

## Questions people ask

**What is the ongoing charge of HTWN?**

The ongoing charge of HTWN is 0.50% a year — about £50 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of HSBC MSCI TAIWAN UCITS ETF USD 0.50% a year. Compared on 14/11/2026, 47 of the 151 other emerging-market share funds charge more, 12 the same and 92 less (share classes counted once).

**What does HTWN track?**

HTWN tracks the MSCI Taiwan Capped Index - Benchmark TR Net.

**Is HTWN accumulating or distributing?**

HTWN is distributing: income is paid out to holders as cash, usually a few times a year. It pays out semi-annual.

**What is the ISIN of HTWN?**

The ISIN of HTWN is IE00B3S1J086. An ISIN identifies one exact share class of a fund; HTWN is its ticker on the London Stock Exchange. The same share class is also listed as HTWD (London Stock Exchange, US dollars).

**What does HTWN hold?**

As of 06/11/2026, HTWN holds 75 positions, according to its published holdings. The largest is TSMC at 33.98% of the fund; the ten largest make up 61.5%. Its ten largest holdings are TSMC (33.98%), MediaTek (7.84%), Hon Hai Precision Industry (4.41%), Delta Electronics (3.29%), ASE Technology (2.82%), Fubon Financial (1.99%), CTBC Financial (1.96%), Nan Ya Plastics (1.82%), Elite Material (1.75%) and United Microelectronics (1.67%).

**What were HTWN’s returns in each of the last five years?**

Calendar-year returns of HTWN in pounds (price only, income paid out not included): 2022 −23.0%, 2023 +18.3%, 2024 +26.3%, 2025 +21.8%; 2026 to 13/11/2026 +49.8%. Past performance is not a guide to future returns.

**How has HTWN done after inflation?**

Over the five years to 13/11/2026 HTWN’s total return was +148.2%, or +93.7% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at HSBC Asset Management](https://www.assetmanagement.hsbc.co.uk/en/individual-investor/funds/ie00b3s1j086)
- [Key investor information document (KIID)](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie00b3s1j086/gb/en/kiid)
- [Factsheet](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie00b3s1j086/gb/en/factsheet)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.