HEMC.L vs. EIMI.L
HEMC.L (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) and EIMI.L (iShares Core MSCI EM IMI UCITS ETF) are both Emerging Markets Equities funds - HEMC.L tracks the MSCI EM NR USD while EIMI.L tracks the MSCI Emerging Markets Investable Market Index. Both are passively managed. Over the past 3 years, HEMC.L returned 20.54%/yr vs 20.20%/yr for EIMI.L. Their correlation of 0.93 suggests significant overlap in exposure. HEMC.L charges 0.15%/yr vs 0.18%/yr for EIMI.L.
Performance
HEMC.L vs. EIMI.L - Performance Comparison
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Different Trading Currencies
HEMC.L is traded in GBP, while EIMI.L is traded in USD. To make them comparable, the EIMI.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, HEMC.L achieves a 26.32% return, which is significantly higher than EIMI.L's 24.75% return.
HEMC.L
- 1D
- -1.65%
- 1M
- 6.49%
- YTD
- 26.32%
- 6M
- 28.17%
- 1Y
- 54.26%
- 3Y*
- 20.54%
- 5Y*
- —
- 10Y*
- —
EIMI.L
- 1D
- -1.30%
- 1M
- 5.47%
- YTD
- 24.75%
- 6M
- 26.33%
- 1Y
- 50.86%
- 3Y*
- 20.20%
- 5Y*
- 8.77%
- 10Y*
- 11.09%
HEMC.L vs. EIMI.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% |
EIMI.L iShares Core MSCI EM IMI UCITS ETF | 24.75% | 22.75% | 9.23% | 5.48% | -2.54% |
Correlation
The correlation between HEMC.L and EIMI.L is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.93 |
The correlation between HEMC.L and EIMI.L has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
HEMC.L vs. EIMI.L — Risk / Return Rank
HEMC.L
EIMI.L
HEMC.L vs. EIMI.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 iShares Core MSCI EM IMI UCITS ETF (EIMI.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 | EIMI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.53 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.98 | 4.78 | +0.20 |
| Martin ratioReturn relative to average drawdown | 17.55 | 16.25 | +1.30 |
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 | EIMI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.19 | 2.83 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.53 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.60 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 0.47 | +0.48 |
Drawdowns
HEMC.L vs. EIMI.L - Drawdown Comparison
The maximum HEMC.L drawdown since its inception was -15.14%, smaller than the maximum EIMI.L drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for HEMC.L and EIMI.L.
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Drawdown Indicators
| HEMC.L | EIMI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.14% | -31.70% | +16.56% |
Max Drawdown (1Y)Largest decline over 1 year | -10.83% | -10.58% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -15.14% | -15.79% | +0.65% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.27% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.10% | — |
Current DrawdownCurrent decline from peak | -2.51% | -2.29% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -8.72% | +4.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 3.12% | -0.04% |
Volatility
HEMC.L vs. EIMI.L - Volatility Comparison
HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) and iShares Core MSCI EM IMI UCITS ETF (EIMI.L) have volatilities of 7.44% and 7.58%, 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 | EIMI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.44% | 7.58% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 14.44% | 15.58% | -1.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.93% | 17.91% | -0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.44% | 16.61% | -1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.44% | 18.39% | -2.95% |
HEMC.L vs. EIMI.L - Expense Ratio Comparison
HEMC.L has a 0.15% expense ratio, which is lower than EIMI.L's 0.18% expense ratio. Despite the difference, 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. EIMI.L - Dividend Comparison
Neither HEMC.L nor EIMI.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, HEMC.L and EIMI.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, 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 0.18% for EIMI.L.
HEMC.L tracks MSCI EM NR USD, while EIMI.L tracks MSCI Emerging Markets Investable Market Index. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.15% for HEMC.L and 0.18% for EIMI.L.
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