H410.DE vs. EMXC.DE
H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) and EMXC.DE (Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc) are both Emerging Markets Equities funds - H410.DE tracks the MSCI Emerging Markets while EMXC.DE tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, H410.DE returned 6.91%/yr vs 11.87%/yr for EMXC.DE. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.
Performance
H410.DE vs. EMXC.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 EMXC.DE's 30.36% 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%
EMXC.DE
- 1D
- -1.60%
- 1M
- -10.29%
- 6M
- 21.10%
- YTD
- 30.36%
- 1Y
- 48.18%
- 3Y*
- 21.90%
- 5Y*
- 11.87%
- 10Y*
- —
H410.DE vs. EMXC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 19.79% | 18.65% | 13.95% | 4.67% | -13.87% | 4.04% | 6.95% | 9.82% |
EMXC.DE Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc | 30.36% | 19.92% | 9.13% | 14.31% | -13.59% | 17.56% | 2.25% | -4.50% |
Correlation
The correlation between H410.DE and EMXC.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 H410.DE and EMXC.DE has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.
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Return for Risk
H410.DE vs. EMXC.DE — Risk / Return Rank
H410.DE
EMXC.DE
H410.DE vs. EMXC.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 Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.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 | EMXC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 3.51 | -0.34 |
| Martin ratioReturn relative to average drawdown | 9.64 | 12.15 | -2.50 |
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Drawdowns
H410.DE vs. EMXC.DE - Drawdown Comparison
The maximum H410.DE drawdown since its inception was -41.02%, roughly equal to the maximum EMXC.DE drawdown of -40.89%. Use the drawdown chart below to compare losses from any high point for H410.DE and EMXC.DE.
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Drawdown Indicators
| H410.DE | EMXC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.02% | -40.89% | -0.13% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -13.66% | +2.95% |
Max Drawdown (3Y)Largest decline over 3 years | -19.01% | -20.47% | +1.46% |
Max Drawdown (5Y)Largest decline over 5 years | -22.77% | -20.47% | -2.30% |
Max Drawdown (10Y)Largest decline over 10 years | -31.62% | — | — |
Current DrawdownCurrent decline from peak | -10.71% | -13.66% | +2.95% |
Average DrawdownAverage peak-to-trough decline | -13.30% | -7.73% | -5.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 3.95% | -0.42% |
Volatility
H410.DE vs. EMXC.DE - Volatility Comparison
The current volatility for HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) is 8.22%, while Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE) has a volatility of 9.94%. This indicates that H410.DE experiences smaller price fluctuations and is considered to be less risky than EMXC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H410.DE | EMXC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.22% | 9.94% | -1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 17.70% | 20.82% | -3.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.15% | 23.00% | -2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.18% | 16.71% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.31% | 19.20% | -0.89% |
H410.DE vs. EMXC.DE - Expense Ratio Comparison
Both H410.DE and EMXC.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
H410.DE vs. EMXC.DE - Dividend Comparison
H410.DE's dividend yield for the trailing twelve months is around 1.71%, while EMXC.DE has not paid dividends to shareholders.
| 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 | 1.71% | 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 0.95, H410.DE and EMXC.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.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
H410.DE and EMXC.DE have the same expense ratio: 0.15% per year.
H410.DE tracks MSCI Emerging Markets, while EMXC.DE tracks MSCI EM NR USD. They also come from different issuers: HSBC and Amundi.
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