EMQQ vs. HSEF.L

Last updated Apr 2, 2026

Compare and contrast key facts about Emerging Markets Internet & Ecommerce ETF (EMQQ) and HSBC Emerging Market Sustainable Equity UCITS ETF USD (HSEF.L).

EMQQ and HSEF.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EMQQ is a passively managed fund by Exchange Traded Concepts that tracks the performance of the EMQQ The Emerging Markets Internet & Ecommerce Index. It was launched on Nov 13, 2014. HSEF.L is a passively managed fund by HSBC that tracks the performance of the MSCI EM NR USD. It was launched on Aug 27, 2020. Both EMQQ and HSEF.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EMQQ vs. HSEF.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Emerging Markets Internet & Ecommerce ETF (EMQQ) and HSBC Emerging Market Sustainable Equity UCITS ETF USD (HSEF.L). The values are adjusted to include any dividend payments, if applicable.

EMQQ vs. HSEF.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EMQQ Emerging Markets Internet & Ecommerce ETF	-18.41%	20.66%	13.79%	4.48%	-30.70%	-32.53%	15.12%
HSEF.L HSBC Emerging Market Sustainable Equity UCITS ETF USD	2.68%	29.97%	15.07%	3.88%	-18.15%	0.89%	13.98%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, EMQQ achieves a -18.41% return, which is significantly lower than HSEF.L's 2.68% return.

EMQQ

• 1D: -0.45%
• 1M: -7.00%
• YTD: -18.41%
• 6M: -26.81%
• 1Y: -11.51%
• 3Y*: 2.73%
• 5Y*: -12.03%
• 10Y*: 4.82%

HSEF.L

• 1D: 3.06%
• 1M: -4.33%
• YTD: 2.68%
• 6M: 3.80%
• 1Y: 28.32%
• 3Y*: 15.94%
• 5Y*: 4.55%
• 10Y*: —

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

EMQQ vs. HSEF.L - Expense Ratio Comparison

EMQQ has a 0.86% expense ratio, which is higher than HSEF.L's 0.18% expense ratio.

EMQQ

Emerging Markets Internet & Ecommerce ETF

HSEF.L

HSBC Emerging Market Sustainable Equity UCITS ETF USD

Return for Risk

EMQQ vs. HSEF.L — Risk / Return Rank

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

EMQQ

EMQQ Risk / Return Rank: 4
EMQQ Sharpe Ratio Rank: 4
EMQQ Sortino Ratio Rank: 4
EMQQ Omega Ratio Rank: 4
EMQQ Calmar Ratio Rank: 6
EMQQ Martin Ratio Rank: 4

HSEF.L

HSEF.L Risk / Return Rank: 76
HSEF.L Sharpe Ratio Rank: 78
HSEF.L Sortino Ratio Rank: 73
HSEF.L Omega Ratio Rank: 73
HSEF.L Calmar Ratio Rank: 82
HSEF.L Martin Ratio Rank: 72

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.

EMQQ vs. HSEF.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Emerging Markets Internet & Ecommerce ETF (EMQQ) and HSBC Emerging Market Sustainable Equity UCITS ETF USD (HSEF.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.

	EMQQ	HSEF.L	Difference
Sharpe ratio Return per unit of total volatility	-0.51	1.55	-2.06
Sortino ratio Return per unit of downside risk	-0.60	1.98	-2.58
Omega ratio Gain probability vs. loss probability	0.93	1.29	-0.37
Calmar ratio Return relative to maximum drawdown	-0.37	2.47	-2.84
Martin ratio Return relative to average drawdown	-1.03	8.32	-9.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMQQ vs. HSEF.L - Sharpe Ratio Comparison

The current EMQQ Sharpe Ratio is -0.51, which is lower than the HSEF.L Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of EMQQ and HSEF.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EMQQ	HSEF.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.51	1.55	-2.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	0.25	-0.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.42	-0.33

Correlation

The correlation between EMQQ and HSEF.L is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EMQQ vs. HSEF.L - Dividend Comparison

EMQQ's dividend yield for the trailing twelve months is around 3.79%, while HSEF.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMQQ Emerging Markets Internet & Ecommerce ETF	3.79%	3.09%	1.70%	0.79%	0.00%	0.00%	0.18%	1.29%	0.00%	0.94%	0.75%	0.08%
HSEF.L HSBC Emerging Market Sustainable Equity UCITS ETF USD	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

EMQQ vs. HSEF.L - Drawdown Comparison

The maximum EMQQ drawdown since its inception was -73.24%, which is greater than HSEF.L's maximum drawdown of -36.32%. Use the drawdown chart below to compare losses from any high point for EMQQ and HSEF.L.

Drawdown Indicators

	EMQQ	HSEF.L	Difference
Max Drawdown Largest peak-to-trough decline	-73.24%	-23.33%	-49.91%
Max Drawdown (1Y) Largest decline over 1 year	-29.96%	-11.51%	-18.45%
Max Drawdown (5Y) Largest decline over 5 years	-67.62%	-19.36%	-48.26%
Max Drawdown (10Y) Largest decline over 10 years	-73.24%	—	—
Current Drawdown Current decline from peak	-57.02%	-6.02%	-51.00%
Average Drawdown Average peak-to-trough decline	-30.99%	-9.54%	-21.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.72%	3.02%	+7.70%

Volatility

EMQQ vs. HSEF.L - Volatility Comparison

Emerging Markets Internet & Ecommerce ETF (EMQQ) has a higher volatility of 8.66% compared to HSBC Emerging Market Sustainable Equity UCITS ETF USD (HSEF.L) at 6.30%. This indicates that EMQQ's price experiences larger fluctuations and is considered to be riskier than HSEF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMQQ	HSEF.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.66%	6.30%	+2.36%
Volatility (6M) Calculated over the trailing 6-month period	15.45%	12.38%	+3.07%
Volatility (1Y) Calculated over the trailing 1-year period	22.48%	18.23%	+4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.23%	17.83%	+15.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.54%	17.80%	+12.74%