EMV.L vs. HEMC.L
EMV.L (iShares Edge MSCI EM Minimum Volatility UCITS ETF) and HEMC.L (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) are both Emerging Markets Equities funds tracking the MSCI EM NR USD, from iShares and HSBC respectively. Both are passively managed. Over the past 3 years, EMV.L returned 11.29%/yr vs 20.54%/yr for HEMC.L. Their correlation of 0.82 suggests significant overlap in exposure. EMV.L charges 0.40%/yr vs 0.15%/yr for HEMC.L.
Performance
EMV.L vs. HEMC.L - Performance Comparison
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Different Trading Currencies
EMV.L is traded in GBp, while HEMC.L is traded in GBP. To make them comparable, the HEMC.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMV.L achieves a 17.59% return, which is significantly lower than HEMC.L's 26.32% return.
EMV.L
- 1D
- -1.01%
- 1M
- 5.53%
- YTD
- 17.59%
- 6M
- 17.45%
- 1Y
- 26.13%
- 3Y*
- 11.29%
- 5Y*
- 6.63%
- 10Y*
- 7.24%
HEMC.L
- 1D
- -1.65%
- 1M
- 6.49%
- YTD
- 26.32%
- 6M
- 28.17%
- 1Y
- 54.26%
- 3Y*
- 20.54%
- 5Y*
- —
- 10Y*
- —
EMV.L vs. HEMC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EMV.L iShares Edge MSCI EM Minimum Volatility UCITS ETF | 17.59% | 5.04% | 10.84% | 1.45% | -2.43% |
HEMC.L HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 26.32% | 24.74% | 8.89% | 2.36% | -2.34% |
Correlation
The correlation between EMV.L and HEMC.L is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.82 |
The correlation between EMV.L and HEMC.L has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.
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Return for Risk
EMV.L vs. HEMC.L — Risk / Return Rank
EMV.L
HEMC.L
EMV.L vs. HEMC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EMV.L) and HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.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.
| EMV.L | HEMC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.59 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.28 | 4.98 | -1.70 |
| Martin ratioReturn relative to average drawdown | 11.15 | 17.55 | -6.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMV.L | HEMC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.29 | 3.19 | -0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.95 | -0.54 |
Drawdowns
EMV.L vs. HEMC.L - Drawdown Comparison
The maximum EMV.L drawdown since its inception was -28.68%, which is greater than HEMC.L's maximum drawdown of -15.14%. Use the drawdown chart below to compare losses from any high point for EMV.L and HEMC.L.
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Drawdown Indicators
| EMV.L | HEMC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.68% | -15.14% | -13.54% |
Max Drawdown (1Y)Largest decline over 1 year | -7.93% | -10.83% | +2.90% |
Max Drawdown (3Y)Largest decline over 3 years | -11.19% | -15.14% | +3.95% |
Max Drawdown (5Y)Largest decline over 5 years | -11.19% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.59% | — | — |
Current DrawdownCurrent decline from peak | -1.54% | -2.51% | +0.97% |
Average DrawdownAverage peak-to-trough decline | -5.90% | -4.25% | -1.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.34% | 3.08% | -0.74% |
Volatility
EMV.L vs. HEMC.L - Volatility Comparison
The current volatility for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EMV.L) is 4.60%, while HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) has a volatility of 7.44%. This indicates that EMV.L experiences smaller price fluctuations and is considered to be less risky than HEMC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMV.L | HEMC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 7.44% | -2.84% |
Volatility (6M)Calculated over the trailing 6-month period | 9.74% | 14.44% | -4.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.37% | 16.93% | -5.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.94% | 15.44% | -4.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.28% | 15.44% | -2.16% |
EMV.L vs. HEMC.L - Expense Ratio Comparison
EMV.L has a 0.40% expense ratio, which is higher than HEMC.L's 0.15% expense ratio.
Dividends
EMV.L vs. HEMC.L - Dividend Comparison
Neither EMV.L nor HEMC.L has paid dividends to shareholders.
Frequently Asked Questions
EMV.L and HEMC.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEMC.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEMC.L is cheaper with a 0.15% expense ratio, compared with 0.40% for EMV.L.
Both ETFs track MSCI EM NR USD. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.40% for EMV.L and 0.15% for HEMC.L.
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