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HEMC.L vs. EMDV.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

HEMC.L vs. EMDV.L

Last updated Apr 2, 2026

Compare and contrast key facts about HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) and SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist) (EMDV.L).

HEMC.L and EMDV.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HEMC.L is a passively managed fund by HSBC that tracks the performance of the MSCI EM NR USD. It was launched on Jun 28, 2022. EMDV.L is a passively managed fund by State Street that tracks the performance of the MSCI EM NR USD. It was launched on Oct 14, 2011. Both HEMC.L and EMDV.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HEMC.L vs. EMDV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) and SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist) (EMDV.L). The values are adjusted to include any dividend payments, if applicable.

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HEMC.L vs. EMDV.L - Yearly Performance Comparison

2026 (YTD)2025202420232022
HEMC.L
HSBC MSCI Emerging Markets UCITS ETF USD (Acc)		6.17%24.74%8.89%2.36%-2.34%
EMDV.L
SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist)		2.53%8.10%16.29%-0.66%1.88%

Returns By Period

In the year-to-date period, HEMC.L achieves a 6.17% return, which is significantly higher than EMDV.L's 2.53% return.

HEMC.L

1D
3.20%
1M
-5.63%
YTD
6.17%
6M
10.27%
1Y
30.61%
3Y*
13.42%
5Y*
—
10Y*
—

EMDV.L

1D
0.58%
1M
-3.69%
YTD
2.53%
6M
1.86%
1Y
11.28%
3Y*
8.11%
5Y*
5.14%
10Y*
6.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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HSBC MSCI Emerging Markets UCITS ETF USD (Acc)

SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist)

Often compared with HEMC.L:
HEMC.L vs. EMIM.LHEMC.L vs. VOOHEMC.L vs. HMEF.LHEMC.L vs. VFEG.LHEMC.L vs. XDEM.DEHEMC.L vs. FEMD.LHEMC.L vs. XMMS.L
Often compared with EMDV.L:
EMDV.L vs. TLTEMDV.L vs. HDEM.LEMDV.L vs. XEMD.LEMDV.L vs. TDGB.LEMDV.L vs. EMGU.LEMDV.L vs. HMEF.LEMDV.L vs. AEME.L

HEMC.L vs. EMDV.L - Expense Ratio Comparison

HEMC.L has a 0.15% expense ratio, which is lower than EMDV.L's 0.55% expense ratio.

EMDV.L
SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist)
HEMC.L
HSBC MSCI Emerging Markets UCITS ETF USD (Acc)

Return for Risk

HEMC.L vs. EMDV.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HEMC.L
HEMC.L Risk / Return Rank: 8585
Overall Rank
HEMC.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
HEMC.L Sortino Ratio Rank: 8585
Sortino Ratio Rank
HEMC.L Omega Ratio Rank: 8484
Omega Ratio Rank
HEMC.L Calmar Ratio Rank: 8686
Calmar Ratio Rank
HEMC.L Martin Ratio Rank: 8282
Martin Ratio Rank
EMDV.L
EMDV.L Risk / Return Rank: 4040
Overall Rank
EMDV.L Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
EMDV.L Sortino Ratio Rank: 4040
Sortino Ratio Rank
EMDV.L Omega Ratio Rank: 3535
Omega Ratio Rank
EMDV.L Calmar Ratio Rank: 4848
Calmar Ratio Rank
EMDV.L Martin Ratio Rank: 3535
Martin Ratio Rank
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.

HEMC.L vs. EMDV.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 SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist) (EMDV.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.LEMDV.LDifference

Sharpe ratio

Return per unit of total volatility

1.83

0.84

+0.99

Sortino ratio

Return per unit of downside risk

2.37

1.21

+1.16

Omega ratio

Gain probability vs. loss probability

1.35

1.15

+0.20

Calmar ratio

Return relative to maximum drawdown

2.88

1.40

+1.48

Martin ratio

Return relative to average drawdown

10.07

3.58

+6.48

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEMC.L vs. EMDV.L - Sharpe Ratio Comparison

The current HEMC.L Sharpe Ratio is 1.83, which is higher than the EMDV.L Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of HEMC.L and EMDV.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

HEMC.LEMDV.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.83

0.84

+0.99

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.35

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.38

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.68

0.23

+0.45

Correlation

The correlation between HEMC.L and EMDV.L is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HEMC.L vs. EMDV.L - Dividend Comparison

Neither HEMC.L nor EMDV.L has paid dividends to shareholders.

TTM20252024202320222021202020192018201720162015
HEMC.L
HSBC MSCI Emerging Markets UCITS ETF USD (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%
EMDV.L
SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist)		0.00%1.29%4.08%4.98%4.45%3.28%3.19%3.83%3.49%2.89%4.15%5.95%

Drawdowns

HEMC.L vs. EMDV.L - Drawdown Comparison

The maximum HEMC.L drawdown since its inception was -15.14%, smaller than the maximum EMDV.L drawdown of -48.26%. Use the drawdown chart below to compare losses from any high point for HEMC.L and EMDV.L.

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Drawdown Indicators

HEMC.LEMDV.LDifference

Max Drawdown

Largest peak-to-trough decline

-15.14%

-48.26%

+33.12%

Max Drawdown (1Y)

Largest decline over 1 year

-10.83%

-8.99%

-1.84%

Max Drawdown (5Y)

Largest decline over 5 years

—

-15.31%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.93%

—

Current Drawdown

Current decline from peak

-7.53%

-6.54%

-0.99%

Average Drawdown

Average peak-to-trough decline

-4.36%

-13.59%

+9.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.10%

3.28%

-0.18%

Volatility

HEMC.L vs. EMDV.L - Volatility Comparison

HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) has a higher volatility of 7.02% compared to SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist) (EMDV.L) at 3.72%. This indicates that HEMC.L's price experiences larger fluctuations and is considered to be riskier than EMDV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HEMC.LEMDV.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.02%

3.72%

+3.30%

Volatility (6M)

Calculated over the trailing 6-month period

12.65%

8.92%

+3.73%

Volatility (1Y)

Calculated over the trailing 1-year period

16.69%

13.50%

+3.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.92%

14.62%

+0.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.92%

17.05%

-2.13%