HIDD.L vs. HMEF.L

Last updated Jul 16, 2026

HIDD.L (HSBC MSCI Indonesia UCITS ETF) and HMEF.L (HSBC MSCI Emerging Markets UCITS ETF USD) are both exchange-traded funds - HIDD.L is a Global Equities fund tracking the HSBC MSCI Indonesia UCITS ETF, while HMEF.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 10 years, HIDD.L returned -4.40%/yr vs 45.23%/yr for HMEF.L. A 0.58 correlation means they provide meaningful diversification when combined. HIDD.L charges 0.50%/yr vs 0.15%/yr for HMEF.L.

Performance

HIDD.L vs. HMEF.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC MSCI Indonesia UCITS ETF (HIDD.L) and HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HIDD.L is traded in USD, while HMEF.L is traded in GBp. To make them comparable, the HMEF.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HIDD.L achieves a -36.42% return, which is significantly lower than HMEF.L's 20.71% return. Over the past 10 years, HIDD.L has underperformed HMEF.L with an annualized return of -4.40%, while HMEF.L has yielded a comparatively higher 45.23% annualized return.

HIDD.L

• 1D: 1.58%
• 1M: -4.14%
• 6M: -36.79%
• YTD: -36.42%
• 1Y: -35.17%
• 3Y*: -19.87%
• 5Y*: -7.25%
• 10Y*: -4.40%

HMEF.L

• 1D: -0.07%
• 1M: -5.76%
• 6M: 14.66%
• YTD: 20.71%
• 1Y: 38.62%
• 3Y*: 20.15%
• 5Y*: 7.00%
• 10Y*: 45.23%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HIDD.L vs. HMEF.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HIDD.L HSBC MSCI Indonesia UCITS ETF	-36.42%	-1.93%	-13.92%	5.16%	3.01%	1.09%	-7.68%	7.53%	-8.55%	23.71%
HMEF.L HSBC MSCI Emerging Markets UCITS ETF USD	20.71%	33.96%	7.26%	7.85%	-19.63%	-3.16%	18.32%	17.27%	-14.74%	120.60%

Correlation

The correlation between HIDD.L and HMEF.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Sep 7, 2011	0.58

Over the past year, the correlation between HIDD.L and HMEF.L has dropped to 0.29 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

Return for Risk

HIDD.L vs. HMEF.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HIDD.L

HIDD.L Risk / Return Rank: 1
HIDD.L Sharpe Ratio Rank: 0
HIDD.L Sortino Ratio Rank: 1
HIDD.L Omega Ratio Rank: 1
HIDD.L Calmar Ratio Rank: 3
HIDD.L Martin Ratio Rank: 0

HMEF.L

HMEF.L Risk / Return Rank: 73
HMEF.L Sharpe Ratio Rank: 73
HMEF.L Sortino Ratio Rank: 67
HMEF.L Omega Ratio Rank: 74
HMEF.L Calmar Ratio Rank: 79
HMEF.L Martin Ratio Rank: 69

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.

HIDD.L vs. HMEF.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Indonesia UCITS ETF (HIDD.L) and HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.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.

	HIDD.L	HMEF.L	Difference
Sharpe ratio: Return per unit of total volatility	-1.23	1.81	-3.04
Sortino ratio: Return per unit of downside risk	-1.83	2.41	-4.24
Omega ratio: Gain probability vs. loss probability	0.78	1.33	-0.55
Calmar ratio: Return relative to maximum drawdown	-0.73	2.94	-3.67
Martin ratio: Return relative to average drawdown	-1.71	9.64	-11.35

HIDD.L vs. HMEF.L - Sharpe Ratio Comparison

The current HIDD.L Sharpe Ratio is -1.23, which is lower than the HMEF.L Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of HIDD.L and HMEF.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HIDD.L vs. HMEF.L - Drawdown Comparison

The maximum HIDD.L drawdown since its inception was -57.94%, which is greater than HMEF.L's maximum drawdown of -39.89%. Use the drawdown chart below to compare losses from any high point for HIDD.L and HMEF.L.

Drawdown Indicators

	HIDD.L	HMEF.L	Difference
Max Drawdown Largest peak-to-trough decline	-57.94%	-39.89%	-18.05%
Max Drawdown (1Y) Largest decline over 1 year	-48.39%	-13.08%	-35.31%
Max Drawdown (3Y) Largest decline over 3 years	-57.94%	-16.21%	-41.73%
Max Drawdown (5Y) Largest decline over 5 years	-57.94%	-34.86%	-23.08%
Max Drawdown (10Y) Largest decline over 10 years	-57.94%	-39.89%	-18.05%
Current Drawdown Current decline from peak	-50.85%	-7.49%	-43.36%
Average Drawdown Average peak-to-trough decline	-17.98%	-11.05%	-6.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.75%	4.00%	+16.75%

Volatility

HIDD.L vs. HMEF.L - Volatility Comparison

The current volatility for HSBC MSCI Indonesia UCITS ETF (HIDD.L) is 7.64%, while HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.L) has a volatility of 8.81%. This indicates that HIDD.L experiences smaller price fluctuations and is considered to be less risky than HMEF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIDD.L	HMEF.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	8.81%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	25.43%	19.13%	+6.30%
Volatility (1Y) Calculated over the trailing 1-year period	28.76%	21.24%	+7.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.26%	19.15%	+3.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.87%	141.96%	-117.09%

HIDD.L vs. HMEF.L - Expense Ratio Comparison

HIDD.L has a 0.50% expense ratio, which is higher than HMEF.L's 0.15% expense ratio.

Dividends

HIDD.L vs. HMEF.L - Dividend Comparison

HIDD.L's dividend yield for the trailing twelve months is around 5.94%, more than HMEF.L's 1.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HIDD.L HSBC MSCI Indonesia UCITS ETF	5.94%	4.73%	3.52%	3.47%	2.08%	1.30%	1.63%	1.54%	2.69%	1.10%	1.19%	1.67%
HMEF.L HSBC MSCI Emerging Markets UCITS ETF USD	1.70%	1.98%	2.43%	2.58%	2.99%	2.01%	1.66%	2.11%	2.14%	37.43%	168.62%	225.12%

Frequently Asked Questions

Can I hold both HIDD.L and HMEF.L in my portfolio?

HIDD.L and HMEF.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HIDD.L or HMEF.L?

On fees, HMEF.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HIDD.L or HMEF.L?

HMEF.L is cheaper with a 0.15% expense ratio, compared with 0.50% for HIDD.L.

What is the main difference between HIDD.L and HMEF.L?

HIDD.L is categorized as Global Equities, while HMEF.L is Emerging Markets Equities. HIDD.L tracks HSBC MSCI Indonesia UCITS ETF, while HMEF.L tracks MSCI EM NR USD. Their fees differ too: 0.50% for HIDD.L and 0.15% for HMEF.L.