EMAD.L vs. HIUS.L

Last updated Jul 18, 2026

EMAD.L (State Street SPDR MSCI EM Asia UCITS ETF USD (Acc)) and HIUS.L (HSBC MSCI USA Islamic Screened UCITS ETF USD Accumulating) are both exchange-traded funds - EMAD.L is a Asia Pacific Equities fund tracking the MSCI EM (Emerging Markets) Asia Index, while HIUS.L is a Large Cap Blend Equities fund tracking the MSCI USA Islamic ESG Universal Screened Select Index. Both are passively managed. Over the past 3 years, EMAD.L returned 20.12%/yr vs 17.74%/yr for HIUS.L. A 0.58 correlation means they provide meaningful diversification when combined. EMAD.L charges 0.55%/yr vs 0.30%/yr for HIUS.L.

Performance

EMAD.L vs. HIUS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR MSCI EM Asia UCITS ETF USD (Acc) (EMAD.L) and HSBC MSCI USA Islamic Screened UCITS ETF USD Accumulating (HIUS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EMAD.L is traded in USD, while HIUS.L is traded in GBP. To make them comparable, the HIUS.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, EMAD.L achieves a 18.88% return, which is significantly lower than HIUS.L's 20.56% return.

EMAD.L

• 1D: -2.28%
• 1M: -11.14%
• 6M: 11.94%
• YTD: 18.88%
• 1Y: 31.93%
• 3Y*: 20.12%
• 5Y*: 6.07%
• 10Y*: 9.49%

HIUS.L

• 1D: 0.00%
• 1M: -3.20%
• 6M: 17.53%
• YTD: 20.56%
• 1Y: 35.37%
• 3Y*: 17.74%
• 5Y*: —
• 10Y*: —

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

EMAD.L vs. HIUS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EMAD.L State Street SPDR MSCI EM Asia UCITS ETF USD (Acc)	18.88%	32.13%	11.12%	6.54%	2.14%
HIUS.L HSBC MSCI USA Islamic Screened UCITS ETF USD Accumulating	20.56%	18.63%	7.72%	29.55%	-17.49%

Correlation

The correlation between EMAD.L and HIUS.L is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (All Time) Calculated using the full available price history since Nov 17, 2022	0.58

The correlation between EMAD.L and HIUS.L shifts across timeframes, from 0.58 (all time) to 0.69 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EMAD.L vs. HIUS.L — Risk / Return Rank

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

EMAD.L

EMAD.L Risk / Return Rank: 54
EMAD.L Sharpe Ratio Rank: 52
EMAD.L Sortino Ratio Rank: 49
EMAD.L Omega Ratio Rank: 52
EMAD.L Calmar Ratio Rank: 63
EMAD.L Martin Ratio Rank: 54

HIUS.L

HIUS.L Risk / Return Rank: 39
HIUS.L Sharpe Ratio Rank: 27
HIUS.L Sortino Ratio Rank: 35
HIUS.L Omega Ratio Rank: 80
HIUS.L Calmar Ratio Rank: 31
HIUS.L Martin Ratio Rank: 22

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.

EMAD.L vs. HIUS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI EM Asia UCITS ETF USD (Acc) (EMAD.L) and HSBC MSCI USA Islamic Screened UCITS ETF USD Accumulating (HIUS.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.

	EMAD.L	HIUS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.35	0.78	+0.57
Sortino ratio: Return per unit of downside risk	1.87	1.51	+0.37
Omega ratio: Gain probability vs. loss probability	1.25	1.34	-0.09
Calmar ratio: Return relative to maximum drawdown	2.36	1.23	+1.14
Martin ratio: Return relative to average drawdown	6.96	2.03	+4.93

EMAD.L vs. HIUS.L - Sharpe Ratio Comparison

The current EMAD.L Sharpe Ratio is 1.35, which is higher than the HIUS.L Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of EMAD.L and HIUS.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

EMAD.L vs. HIUS.L - Drawdown Comparison

The maximum EMAD.L drawdown since its inception was -46.17%, which is greater than HIUS.L's maximum drawdown of -28.87%. Use the drawdown chart below to compare losses from any high point for EMAD.L and HIUS.L.

Drawdown Indicators

	EMAD.L	HIUS.L	Difference
Max Drawdown Largest peak-to-trough decline	-46.17%	-28.87%	-17.30%
Max Drawdown (1Y) Largest decline over 1 year	-13.45%	-28.87%	+15.42%
Max Drawdown (3Y) Largest decline over 3 years	-20.03%	-28.87%	+8.84%
Max Drawdown (5Y) Largest decline over 5 years	-38.79%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.17%	—	—
Current Drawdown Current decline from peak	-13.45%	-8.46%	-4.99%
Average Drawdown Average peak-to-trough decline	-14.72%	-8.02%	-6.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.58%	17.45%	-12.87%

Volatility

EMAD.L vs. HIUS.L - Volatility Comparison

State Street SPDR MSCI EM Asia UCITS ETF USD (Acc) (EMAD.L) has a higher volatility of 9.76% compared to HSBC MSCI USA Islamic Screened UCITS ETF USD Accumulating (HIUS.L) at 7.86%. This indicates that EMAD.L's price experiences larger fluctuations and is considered to be riskier than HIUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMAD.L	HIUS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.76%	7.86%	+1.90%
Volatility (6M) Calculated over the trailing 6-month period	21.25%	15.09%	+6.16%
Volatility (1Y) Calculated over the trailing 1-year period	23.65%	45.41%	-21.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.82%	28.81%	-7.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.16%	28.81%	-8.65%

EMAD.L vs. HIUS.L - Expense Ratio Comparison

EMAD.L has a 0.55% expense ratio, which is higher than HIUS.L's 0.30% expense ratio.

Dividends

EMAD.L vs. HIUS.L - Dividend Comparison

Neither EMAD.L nor HIUS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EMAD.L and HIUS.L in my portfolio?

EMAD.L and HIUS.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EMAD.L or HIUS.L?

On fees, HIUS.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMAD.L or HIUS.L?

HIUS.L is cheaper with a 0.30% expense ratio, compared with 0.55% for EMAD.L.

What is the main difference between EMAD.L and HIUS.L?

EMAD.L is categorized as Asia Pacific Equities, while HIUS.L is Large Cap Blend Equities. EMAD.L tracks MSCI EM (Emerging Markets) Asia Index, while HIUS.L tracks MSCI USA Islamic ESG Universal Screened Select Index. They also come from different issuers: State Street and HSBC. Their fees differ too: 0.55% for EMAD.L and 0.30% for HIUS.L.