HEMC.L vs. FEMQ.L
HEMC.L (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) and FEMQ.L (Fidelity Emerging Markets Quality Income UCITS ETF) are both Emerging Markets Equities funds tracking the MSCI EM NR USD, from HSBC and Fidelity respectively. Both are passively managed. Over the past 3 years, HEMC.L returned 21.50%/yr vs 23.79%/yr for FEMQ.L. A 0.79 correlation means they provide meaningful diversification when combined. HEMC.L charges 0.15%/yr vs 0.50%/yr for FEMQ.L.
Performance
HEMC.L vs. FEMQ.L - Performance Comparison
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Returns By Period
In the year-to-date period, HEMC.L achieves a 26.74% return, which is significantly lower than FEMQ.L's 34.14% return.
HEMC.L
- 1D
- 0.00%
- 1M
- 1.60%
- YTD
- 26.74%
- 6M
- 28.31%
- 1Y
- 49.32%
- 3Y*
- 21.50%
- 5Y*
- —
- 10Y*
- —
FEMQ.L
- 1D
- -0.39%
- 1M
- -0.26%
- YTD
- 34.14%
- 6M
- 34.61%
- 1Y
- 51.76%
- 3Y*
- 23.79%
- 5Y*
- 9.39%
- 10Y*
- —
HEMC.L vs. FEMQ.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HEMC.L HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 26.74% | 24.74% | 8.89% | 3.02% | -21.60% |
FEMQ.L Fidelity Emerging Markets Quality Income UCITS ETF | 34.14% | 20.96% | 6.47% | 9.75% | -0.69% |
Correlation
The correlation between HEMC.L and FEMQ.L is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2022 | 0.79 |
The correlation between HEMC.L and FEMQ.L has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.
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Return for Risk
HEMC.L vs. FEMQ.L — Risk / Return Rank
HEMC.L
FEMQ.L
HEMC.L vs. FEMQ.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 Fidelity Emerging Markets Quality Income UCITS ETF (FEMQ.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.
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.
| HEMC.L | FEMQ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.56 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 5.82 | -4.00 |
| Martin ratioReturn relative to average drawdown | 3.25 | 17.91 | -14.66 |
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Drawdowns
HEMC.L vs. FEMQ.L - Drawdown Comparison
The maximum HEMC.L drawdown since its inception was -27.17%, smaller than the maximum FEMQ.L drawdown of -39.52%. Use the drawdown chart below to compare losses from any high point for HEMC.L and FEMQ.L.
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Drawdown Indicators
| HEMC.L | FEMQ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.17% | -39.52% | +12.35% |
Max Drawdown (1Y)Largest decline over 1 year | -27.17% | -8.85% | -18.32% |
Max Drawdown (3Y)Largest decline over 3 years | -27.17% | -14.89% | -12.28% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.31% | — |
Current DrawdownCurrent decline from peak | -4.46% | -5.95% | +1.49% |
Average DrawdownAverage peak-to-trough decline | -15.69% | -14.82% | -0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.17% | 2.88% | +12.29% |
Volatility
HEMC.L vs. FEMQ.L - Volatility Comparison
HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) and Fidelity Emerging Markets Quality Income UCITS ETF (FEMQ.L) have volatilities of 8.97% and 8.63%, 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 | FEMQ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.97% | 8.63% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 16.35% | 15.85% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.68% | 17.62% | +27.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.15% | 15.42% | +14.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.15% | 19.34% | +10.81% |
HEMC.L vs. FEMQ.L - Expense Ratio Comparison
HEMC.L has a 0.15% expense ratio, which is lower than FEMQ.L's 0.50% expense ratio.
Dividends
HEMC.L vs. FEMQ.L - Dividend Comparison
Neither HEMC.L nor FEMQ.L has paid dividends to shareholders.
Frequently Asked Questions
HEMC.L and FEMQ.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.50% for FEMQ.L.
Both ETFs track MSCI EM NR USD. They also come from different issuers: HSBC and Fidelity. Their fees differ too: 0.15% for HEMC.L and 0.50% for FEMQ.L.
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