EMXC.DE vs. H410.DE

Last updated Jul 16, 2026

EMXC.DE (Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc) and H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) are both Emerging Markets Equities funds - EMXC.DE tracks the MSCI EM NR USD while H410.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 5 years, EMXC.DE returned 12.61%/yr vs 7.58%/yr for H410.DE. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.

Performance

EMXC.DE vs. H410.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMXC.DE achieves a 34.70% return, which is significantly higher than H410.DE's 23.59% return.

EMXC.DE

• 1D: -0.87%
• 1M: -6.26%
• 6M: 26.24%
• YTD: 34.70%
• 1Y: 54.96%
• 3Y*: 23.18%
• 5Y*: 12.61%
• 10Y*: —

H410.DE

• 1D: -0.41%
• 1M: -4.81%
• 6M: 16.27%
• YTD: 23.59%
• 1Y: 40.06%
• 3Y*: 19.24%
• 5Y*: 7.58%
• 10Y*: 8.62%

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

EMXC.DE vs. H410.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EMXC.DE Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc	34.70%	19.92%	9.13%	14.31%	-13.59%	17.56%	2.25%	-4.50%
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD	23.59%	18.65%	13.95%	4.67%	-13.87%	4.04%	6.95%	9.82%

Correlation

The correlation between EMXC.DE and H410.DE is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jun 20, 2019	0.87

The correlation between EMXC.DE and H410.DE has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.

Return for Risk

EMXC.DE vs. H410.DE — Risk / Return Rank

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

EMXC.DE

EMXC.DE Risk / Return Rank: 88
EMXC.DE Sharpe Ratio Rank: 90
EMXC.DE Sortino Ratio Rank: 85
EMXC.DE Omega Ratio Rank: 87
EMXC.DE Calmar Ratio Rank: 91
EMXC.DE Martin Ratio Rank: 87

H410.DE

H410.DE Risk / Return Rank: 78
H410.DE Sharpe Ratio Rank: 78
H410.DE Sortino Ratio Rank: 73
H410.DE Omega Ratio Rank: 76
H410.DE Calmar Ratio Rank: 86
H410.DE Martin Ratio Rank: 78

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.

EMXC.DE vs. H410.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.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.

	EMXC.DE	H410.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.99	+0.40
Sortino ratio: Return per unit of downside risk	3.06	2.65	+0.40
Omega ratio: Gain probability vs. loss probability	1.42	1.36	+0.07
Calmar ratio: Return relative to maximum drawdown	4.61	3.81	+0.80
Martin ratio: Return relative to average drawdown	14.47	11.69	+2.77

EMXC.DE vs. H410.DE - Sharpe Ratio Comparison

The current EMXC.DE Sharpe Ratio is 2.39, which is comparable to the H410.DE Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of EMXC.DE and H410.DE, 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

EMXC.DE vs. H410.DE - Drawdown Comparison

The maximum EMXC.DE drawdown since its inception was -40.89%, roughly equal to the maximum H410.DE drawdown of -41.02%. Use the drawdown chart below to compare losses from any high point for EMXC.DE and H410.DE.

Drawdown Indicators

	EMXC.DE	H410.DE	Difference
Max Drawdown Largest peak-to-trough decline	-40.89%	-41.02%	+0.13%
Max Drawdown (1Y) Largest decline over 1 year	-11.87%	-10.47%	-1.40%
Max Drawdown (3Y) Largest decline over 3 years	-20.47%	-19.01%	-1.46%
Max Drawdown (5Y) Largest decline over 5 years	-20.47%	-22.77%	+2.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.62%	—
Current Drawdown Current decline from peak	-10.78%	-7.87%	-2.91%
Average Drawdown Average peak-to-trough decline	-7.72%	-13.30%	+5.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.79%	3.42%	+0.37%

Volatility

EMXC.DE vs. H410.DE - Volatility Comparison

Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE) has a higher volatility of 10.55% compared to HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) at 8.52%. This indicates that EMXC.DE's price experiences larger fluctuations and is considered to be riskier than H410.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMXC.DE	H410.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.55%	8.52%	+2.03%
Volatility (6M) Calculated over the trailing 6-month period	20.67%	17.56%	+3.11%
Volatility (1Y) Calculated over the trailing 1-year period	22.90%	20.06%	+2.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.68%	17.16%	-0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.19%	18.30%	+0.89%

EMXC.DE vs. H410.DE - Expense Ratio Comparison

Both EMXC.DE and H410.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

EMXC.DE vs. H410.DE - Dividend Comparison

EMXC.DE has not paid dividends to shareholders, while H410.DE's dividend yield for the trailing twelve months is around 1.65%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMXC.DE Lyxor MSCI Emerging Markets Ex China UCITS ETF - 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	1.65%	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

Can I hold both EMXC.DE and H410.DE in my portfolio?

With a correlation of 0.95, EMXC.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.

Which ETF is better, EMXC.DE or H410.DE?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMXC.DE or H410.DE?

EMXC.DE and H410.DE have the same expense ratio: 0.15% per year.

What is the main difference between EMXC.DE and H410.DE?

EMXC.DE tracks MSCI EM NR USD, while H410.DE tracks MSCI Emerging Markets. They also come from different issuers: Amundi and HSBC.