H410.DE vs. AE5A.DE
H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) and AE5A.DE (Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist) are both Emerging Markets Equities funds - H410.DE tracks the MSCI Emerging Markets while AE5A.DE tracks the MSCI Emerging Markets Index. Both are passively managed. Over the past 3 years, H410.DE returned 18.31%/yr vs 19.33%/yr for AE5A.DE. With a 0.98 correlation, they move nearly in lockstep. H410.DE charges 0.15%/yr vs 0.14%/yr for AE5A.DE.
Performance
H410.DE vs. AE5A.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H410.DE achieves a 19.79% return, which is significantly lower than AE5A.DE's 21.78% return.
H410.DE
- 1D
- -1.87%
- 1M
- -8.04%
- 6M
- 12.07%
- YTD
- 19.79%
- 1Y
- 34.11%
- 3Y*
- 18.31%
- 5Y*
- 6.91%
- 10Y*
- 8.22%
AE5A.DE
- 1D
- 0.00%
- 1M
- -6.37%
- 6M
- 14.19%
- YTD
- 21.78%
- 1Y
- 36.37%
- 3Y*
- 19.33%
- 5Y*
- —
- 10Y*
- —
H410.DE vs. AE5A.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 19.79% | 18.65% | 13.95% | 3.65% |
AE5A.DE Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist | 21.78% | 19.26% | 14.36% | 4.85% |
Correlation
The correlation between H410.DE and AE5A.DE is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 24, 2023 | 0.98 |
The correlation between H410.DE and AE5A.DE has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.
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Return for Risk
H410.DE vs. AE5A.DE — Risk / Return Rank
H410.DE
AE5A.DE
H410.DE vs. AE5A.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) and Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist (AE5A.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.
| H410.DE | AE5A.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.33 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 3.53 | -0.36 |
| Martin ratioReturn relative to average drawdown | 9.64 | 10.53 | -0.89 |
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Drawdowns
H410.DE vs. AE5A.DE - Drawdown Comparison
The maximum H410.DE drawdown since its inception was -41.02%, which is greater than AE5A.DE's maximum drawdown of -19.22%. Use the drawdown chart below to compare losses from any high point for H410.DE and AE5A.DE.
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Drawdown Indicators
| H410.DE | AE5A.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.02% | -19.22% | -21.80% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -10.34% | -0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -19.01% | -19.22% | +0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -22.77% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -31.62% | — | — |
Current DrawdownCurrent decline from peak | -10.71% | -9.27% | -1.44% |
Average DrawdownAverage peak-to-trough decline | -13.30% | -3.10% | -10.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 3.46% | +0.07% |
Volatility
H410.DE vs. AE5A.DE - Volatility Comparison
HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) and Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist (AE5A.DE) have volatilities of 8.22% 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
| H410.DE | AE5A.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.22% | 8.37% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 17.70% | 17.75% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.15% | 20.29% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.18% | 16.63% | +0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.31% | 16.63% | +1.68% |
H410.DE vs. AE5A.DE - Expense Ratio Comparison
H410.DE has a 0.15% expense ratio, which is higher than AE5A.DE's 0.14% 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
H410.DE vs. AE5A.DE - Dividend Comparison
H410.DE's dividend yield for the trailing twelve months is around 1.71%, less than AE5A.DE's 1.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AE5A.DE Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist | 1.77% | 2.15% | 3.38% | 3.80% | 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 | 1.71% | 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 0.98, H410.DE and AE5A.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, AE5A.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AE5A.DE is cheaper with a 0.14% expense ratio, compared with 0.15% for H410.DE.
H410.DE tracks MSCI Emerging Markets, while AE5A.DE tracks MSCI Emerging Markets Index. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.15% for H410.DE and 0.14% for AE5A.DE.
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