HEMC.L vs. PRAM.L
HEMC.L (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) and PRAM.L (Amundi Prime Emerging Markets UCITS ETF DR (C)) 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 20.13%/yr for PRAM.L. A 0.72 correlation means they provide meaningful diversification when combined. HEMC.L charges 0.15%/yr vs 0.10%/yr for PRAM.L.
Performance
HEMC.L vs. PRAM.L - Performance Comparison
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Different Trading Currencies
HEMC.L is traded in GBP, while PRAM.L is traded in USD. To make them comparable, the PRAM.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 PRAM.L's 24.77% return.
HEMC.L
- 1D
- -1.65%
- 1M
- 6.49%
- YTD
- 26.32%
- 6M
- 28.17%
- 1Y
- 54.26%
- 3Y*
- 20.54%
- 5Y*
- —
- 10Y*
- —
PRAM.L
- 1D
- -1.56%
- 1M
- 5.71%
- YTD
- 24.77%
- 6M
- 26.35%
- 1Y
- 51.29%
- 3Y*
- 20.13%
- 5Y*
- —
- 10Y*
- —
HEMC.L vs. PRAM.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% |
PRAM.L Amundi Prime Emerging Markets UCITS ETF DR (C) | 24.77% | 23.16% | 9.01% | 3.99% | -1.58% |
Correlation
The correlation between HEMC.L and PRAM.L 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 | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.72 |
Over the past year, HEMC.L and PRAM.L have become more correlated (0.95) than their long-term average of 0.72, meaning their price movements have been converging.
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Return for Risk
HEMC.L vs. PRAM.L — Risk / Return Rank
HEMC.L
PRAM.L
HEMC.L vs. PRAM.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 Prime Emerging Markets UCITS ETF DR (C) (PRAM.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 | PRAM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.52 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.98 | 4.98 | +0.01 |
| Martin ratioReturn relative to average drawdown | 17.55 | 16.58 | +0.96 |
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 | PRAM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.19 | 2.84 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 0.82 | +0.13 |
Drawdowns
HEMC.L vs. PRAM.L - Drawdown Comparison
The maximum HEMC.L drawdown since its inception was -15.14%, roughly equal to the maximum PRAM.L drawdown of -15.77%. Use the drawdown chart below to compare losses from any high point for HEMC.L and PRAM.L.
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Drawdown Indicators
| HEMC.L | PRAM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.14% | -15.77% | +0.63% |
Max Drawdown (1Y)Largest decline over 1 year | -10.83% | -10.26% | -0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -15.14% | -15.77% | +0.63% |
Current DrawdownCurrent decline from peak | -2.51% | -2.78% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -4.79% | +0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 3.08% | 0.00% |
Volatility
HEMC.L vs. PRAM.L - Volatility Comparison
HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) and Amundi Prime Emerging Markets UCITS ETF DR (C) (PRAM.L) have volatilities of 7.44% and 7.80%, 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 | PRAM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.44% | 7.80% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 14.44% | 15.43% | -0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.93% | 18.02% | -1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.44% | 18.89% | -3.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.44% | 18.89% | -3.45% |
HEMC.L vs. PRAM.L - Expense Ratio Comparison
HEMC.L has a 0.15% expense ratio, which is higher than PRAM.L's 0.10% 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. PRAM.L - Dividend Comparison
Neither HEMC.L nor PRAM.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, HEMC.L and PRAM.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, PRAM.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PRAM.L is cheaper with a 0.10% 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 0.10% for PRAM.L.
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