AYEM.DE vs. H410.DE
AYEM.DE (iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc)) and H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) are both Emerging Markets Equities funds - AYEM.DE tracks the MSCI Emerging Markets IMI ESG Screened while H410.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 5 years, AYEM.DE returned 7.42%/yr vs 7.44%/yr for H410.DE. With a 0.97 correlation, they move nearly in lockstep. AYEM.DE charges 0.18%/yr vs 0.15%/yr for H410.DE.
Performance
AYEM.DE vs. H410.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AYEM.DE achieves a 19.86% return, which is significantly lower than H410.DE's 21.14% return.
AYEM.DE
- 1D
- 1.15%
- 1M
- -8.52%
- 6M
- 12.52%
- YTD
- 19.86%
- 1Y
- 32.48%
- 3Y*
- 18.24%
- 5Y*
- 7.42%
- 10Y*
- —
- ALL TIME*
- 7.75%
H410.DE
- 1D
- 1.13%
- 1M
- -8.08%
- 6M
- 13.34%
- YTD
- 21.14%
- 1Y
- 36.01%
- 3Y*
- 18.66%
- 5Y*
- 7.44%
- 10Y*
- 8.27%
- ALL TIME*
- 4.25%
AYEM.DE vs. H410.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
AYEM.DE iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) | 19.86% | 17.41% | 14.03% | 6.81% | -14.62% | 6.17% | 7.79% | 21.76% | -12.55% |
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 21.14% | 18.65% | 13.95% | 4.67% | -13.87% | 4.04% | 6.95% | 21.14% | 1.19% |
Correlation
The correlation between AYEM.DE and H410.DE is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2018 | 0.97 |
The correlation between AYEM.DE and H410.DE has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
AYEM.DE vs. H410.DE — Risk / Return Rank
AYEM.DE
H410.DE
AYEM.DE vs. H410.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (AYEM.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE). 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.
| AYEM.DE | H410.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.32 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 3.35 | -0.46 |
| Martin ratioReturn relative to average drawdown | 8.83 | 10.03 | -1.20 |
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Drawdowns
AYEM.DE vs. H410.DE - Drawdown Comparison
The maximum AYEM.DE drawdown since its inception was -31.12%, smaller than the maximum H410.DE drawdown of -41.02%. Use the drawdown chart below to compare losses from any high point for AYEM.DE and H410.DE.
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Drawdown Indicators
| AYEM.DE | H410.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.12% | -41.02% | +9.90% |
Max Drawdown (1Y)Largest decline over 1 year | -11.21% | -10.71% | -0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -19.16% | -19.01% | -0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -23.31% | -22.77% | -0.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.62% | — |
Current DrawdownCurrent decline from peak | -10.19% | -9.70% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -8.72% | -13.30% | +4.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.67% | 3.58% | +0.09% |
Volatility
AYEM.DE vs. H410.DE - Volatility Comparison
iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (AYEM.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) have volatilities of 8.55% and 8.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AYEM.DE | H410.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.55% | 8.37% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 17.76% | 17.68% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.06% | 20.13% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.03% | 17.17% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.47% | 18.32% | +1.15% |
AYEM.DE vs. H410.DE - Expense Ratio Comparison
AYEM.DE has a 0.18% expense ratio, which is higher than H410.DE's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
AYEM.DE vs. H410.DE - Dividend Comparison
AYEM.DE has not paid dividends to shareholders, while H410.DE's dividend yield for the trailing twelve months is around 1.69%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AYEM.DE iShares MSCI EM IMI ESG Screened 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% |
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 1.69% | 2.00% | 2.40% | 2.59% | 3.11% | 2.00% | 1.69% | 2.03% | 2.20% | 1.62% | 1.71% | 2.28% |
Frequently Asked Questions
With a correlation of 0.97, AYEM.DE and H410.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, H410.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H410.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for AYEM.DE.
AYEM.DE tracks MSCI Emerging Markets IMI ESG Screened, while H410.DE tracks MSCI Emerging Markets. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.18% for AYEM.DE and 0.15% for H410.DE.
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