HEMC.L vs. E127.L
HEMC.L (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) and E127.L (Amundi MSCI Emerging Markets II UCITS ETF Dist) are both Emerging Markets Equities funds tracking the MSCI EM NR USD, from HSBC and Amundi respectively. Both are passively managed. Over the past 3 years, HEMC.L returned 20.54%/yr vs 21.77%/yr for E127.L. With a 0.99 correlation, they move nearly in lockstep. HEMC.L charges 0.15%/yr vs 0.14%/yr for E127.L.
Performance
HEMC.L vs. E127.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with HEMC.L having a 26.32% return and E127.L slightly lower at 26.18%.
HEMC.L
- 1D
- -1.65%
- 1M
- 6.49%
- YTD
- 26.32%
- 6M
- 28.17%
- 1Y
- 54.26%
- 3Y*
- 20.54%
- 5Y*
- —
- 10Y*
- —
E127.L
- 1D
- -1.40%
- 1M
- 6.35%
- YTD
- 26.18%
- 6M
- 28.72%
- 1Y
- 54.75%
- 3Y*
- 21.77%
- 5Y*
- 9.22%
- 10Y*
- —
HEMC.L vs. E127.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HEMC.L HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 26.32% | 24.74% | 8.89% | 2.36% | -2.34% |
E127.L Amundi MSCI Emerging Markets II UCITS ETF Dist | 26.18% | 25.81% | 10.12% | 3.48% | -2.58% |
Correlation
The correlation between HEMC.L and E127.L is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.99 |
The correlation between HEMC.L and E127.L has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
HEMC.L vs. E127.L — Risk / Return Rank
HEMC.L
E127.L
HEMC.L vs. E127.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) and Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.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.
| HEMC.L | E127.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.60 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.98 | 5.04 | -0.05 |
| Martin ratioReturn relative to average drawdown | 17.55 | 18.09 | -0.54 |
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
| HEMC.L | E127.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.19 | 3.25 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.57 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 0.74 | +0.21 |
Drawdowns
HEMC.L vs. E127.L - Drawdown Comparison
The maximum HEMC.L drawdown since its inception was -15.14%, smaller than the maximum E127.L drawdown of -26.68%. Use the drawdown chart below to compare losses from any high point for HEMC.L and E127.L.
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Drawdown Indicators
| HEMC.L | E127.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.14% | -26.68% | +11.54% |
Max Drawdown (1Y)Largest decline over 1 year | -10.83% | -10.82% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -15.14% | -15.31% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.89% | — |
Current DrawdownCurrent decline from peak | -2.51% | -2.33% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -10.34% | +6.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 3.02% | +0.06% |
Volatility
HEMC.L vs. E127.L - Volatility Comparison
HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) and Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L) have volatilities of 7.44% and 7.32%, 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
| HEMC.L | E127.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.44% | 7.32% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 14.44% | 14.30% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.93% | 16.79% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.44% | 16.18% | -0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.44% | 16.39% | -0.95% |
HEMC.L vs. E127.L - Expense Ratio Comparison
HEMC.L has a 0.15% expense ratio, which is higher than E127.L'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
HEMC.L vs. E127.L - Dividend Comparison
HEMC.L has not paid dividends to shareholders, while E127.L's dividend yield for the trailing twelve months is around 1.96%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
E127.L Amundi MSCI Emerging Markets II UCITS ETF Dist | 1.96% | 2.47% | 4.04% | 4.40% | 2.79% | 2.25% |
HEMC.L HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, HEMC.L and E127.L 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, E127.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
E127.L is cheaper with a 0.14% expense ratio, compared with 0.15% for HEMC.L.
Both ETFs track MSCI EM NR USD. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.15% for HEMC.L and 0.14% for E127.L.
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