AAUM vs. HSBH

Last updated Jul 4, 2026

AAUM (Tema Alternative Asset Managers ETF) and HSBH (HSBC Holdings plc ADRhedged ETF) are both Financials Equities funds. AAUM is actively managed, while HSBH is passively managed. At a 0.41 correlation, their price movements are largely independent. AAUM charges 0.75%/yr vs 0.19%/yr for HSBH.

Performance

AAUM vs. HSBH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema Alternative Asset Managers ETF (AAUM) and HSBC Holdings plc ADRhedged ETF (HSBH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAUM achieves a -18.14% return, which is significantly lower than HSBH's 26.86% return.

AAUM

• 1D: 1.47%
• 1M: 1.03%
• 6M: -19.10%
• YTD: -18.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HSBH

• 1D: 0.36%
• 1M: 3.60%
• 6M: 24.06%
• YTD: 26.86%
• 1Y: 68.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AAUM vs. HSBH - Yearly Performance Comparison

	2026 (YTD)	2025
AAUM Tema Alternative Asset Managers ETF	-18.14%	0.10%
HSBH HSBC Holdings plc ADRhedged ETF	26.86%	10.83%

Correlation

The correlation between AAUM and HSBH is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.41

Return for Risk

AAUM vs. HSBH — Risk / Return Rank

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

AAUM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HSBH

HSBH Risk / Return Rank: 92
HSBH Sharpe Ratio Rank: 94
HSBH Sortino Ratio Rank: 92
HSBH Omega Ratio Rank: 92
HSBH Calmar Ratio Rank: 90
HSBH Martin Ratio Rank: 90

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.

AAUM vs. HSBH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Alternative Asset Managers ETF (AAUM) and HSBC Holdings plc ADRhedged ETF (HSBH). 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.

	AAUM	HSBH	Difference
Sharpe ratio: Return per unit of total volatility	—	2.89	—
Sortino ratio: Return per unit of downside risk	—	3.65	—
Omega ratio: Gain probability vs. loss probability	—	1.50	—
Calmar ratio: Return relative to maximum drawdown	—	4.60	—
Martin ratio: Return relative to average drawdown	—	16.64	—

Drawdowns

AAUM vs. HSBH - Drawdown Comparison

The maximum AAUM drawdown since its inception was -28.24%, which is greater than HSBH's maximum drawdown of -14.81%. Use the drawdown chart below to compare losses from any high point for AAUM and HSBH.

Drawdown Indicators

	AAUM	HSBH	Difference
Max Drawdown Largest peak-to-trough decline	-28.24%	-14.81%	-13.43%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.81%	—
Current Drawdown Current decline from peak	-22.65%	-0.53%	-22.12%
Average Drawdown Average peak-to-trough decline	-13.01%	-2.31%	-10.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.08%	—

Volatility

Volatility by Period

	AAUM	HSBH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.88%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.68%	23.60%	+4.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.68%	22.73%	+4.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.68%	22.73%	+4.95%

AAUM vs. HSBH - Expense Ratio Comparison

AAUM has a 0.75% expense ratio, which is higher than HSBH's 0.19% expense ratio.

Dividends

AAUM vs. HSBH - Dividend Comparison

AAUM's dividend yield for the trailing twelve months is around 0.92%, less than HSBH's 2.34% yield.

Position	TTM	2025
AAUM Tema Alternative Asset Managers ETF	0.92%	0.75%
HSBH HSBC Holdings plc ADRhedged ETF	2.34%	0.00%

Frequently Asked Questions

Can I hold both AAUM and HSBH in my portfolio?

AAUM and HSBH have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAUM or HSBH?

On fees, HSBH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAUM or HSBH?

HSBH is cheaper with a 0.19% expense ratio, compared with 0.75% for AAUM.

Which ETF pays a higher dividend yield, AAUM or HSBH?

HSBH has the higher dividend yield at 2.34%, compared with 0.92% for AAUM.

What is the main difference between AAUM and HSBH?

They also come from different issuers: Tema ETFs and ADRhedged. Their fees differ too: 0.75% for AAUM and 0.19% for HSBH.