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HIDR.L vs. IAU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HIDR.L vs. IAU

Last updated Jun 5, 2026

HIDR.L (HSBC MSCI Indonesia UCITS ETF USD) and IAU (iShares Gold Trust) are both exchange-traded funds - HIDR.L is a Asia Pacific Equities fund tracking the MSCI Indonesia NR IDR, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, HIDR.L returned -3.49%/yr vs 14.23%/yr for IAU. At a 0.08 correlation, their price movements are largely independent. HIDR.L charges 0.50%/yr vs 0.25%/yr for IAU.

Performance

HIDR.L vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) and iShares Gold Trust (IAU). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, HIDR.L achieves a -39.26% return, which is significantly lower than IAU's 4.25% return. Over the past 10 years, HIDR.L has underperformed IAU with an annualized return of -3.49%, while IAU has yielded a comparatively higher 14.23% annualized return.

HIDR.L

1D
-0.63%
1M
-19.17%
YTD
-39.26%
6M
-40.84%
1Y
-39.36%
3Y*
-23.10%
5Y*
-9.04%
10Y*
-3.49%

IAU

1D
0.83%
1M
-0.74%
YTD
4.25%
6M
5.57%
1Y
33.76%
3Y*
28.09%
5Y*
19.80%
10Y*
14.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HIDR.L vs. IAU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HIDR.L
HSBC MSCI Indonesia UCITS ETF USD		-39.26%-8.13%-13.17%-0.80%15.43%2.40%-11.41%4.86%-4.08%12.22%
IAU
iShares Gold Trust		4.25%52.27%29.07%7.20%11.18%-3.09%21.36%13.49%4.07%3.14%

Correlation

The correlation between HIDR.L and IAU is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.14

Correlation (3Y)
Calculated over the trailing 3-year period

0.11

Correlation (5Y)
Calculated over the trailing 5-year period

0.09

Correlation (10Y)
Calculated over the trailing 10-year period

0.10

Correlation (All Time)
Calculated using the full available price history since Apr 5, 2011

0.08

HIDR.L vs. IAU - Sectors Allocation Comparison

Sectors
HIDR.L
IAU

Financial Services

56.9%

-

Basic Materials

12.8%

-

Communication Services

11.6%

-

Industrials

7.9%

-

Consumer Defensive

4.2%

-

Technology

3.4%

-

Energy

1.7%

-

Utilities

1.6%

-

Consumer Cyclical

-

-

Healthcare

-

-

Real Estate

-

100.0%

Financial Services

HIDR.L
56.9%
IAU

-

Basic Materials

HIDR.L
12.8%
IAU

-

Communication Services

HIDR.L
11.6%
IAU

-

Industrials

HIDR.L
7.9%
IAU

-

Consumer Defensive

HIDR.L
4.2%
IAU

-

Technology

HIDR.L
3.4%
IAU

-

Energy

HIDR.L
1.7%
IAU

-

Utilities

HIDR.L
1.6%
IAU

-

Consumer Cyclical

HIDR.L

-

IAU

-

Healthcare

HIDR.L

-

IAU

-

Real Estate

HIDR.L

-

IAU
100.0%

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HSBC MSCI Indonesia UCITS ETF USD

iShares Gold Trust

Often compared with HIDR.L:
HIDR.L vs. XDUS.LHIDR.L vs. SPYHIDR.L vs. HKOR.LHIDR.L vs. CP9U.LHIDR.L vs. CP9G.LHIDR.L vs. HMUD.LHIDR.L vs. ^NDX
Often compared with IAU:
IAU vs. GLDIAU vs. GLDMIAU vs. IAUMIAU vs. SGOLIAU vs. GDXIAU vs. VOOIAU vs. PHYS

Return for Risk

HIDR.L vs. IAU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HIDR.L
HIDR.L Risk / Return Rank: 00
Overall Rank
HIDR.L Sharpe Ratio Rank: 00
Sharpe Ratio Rank
HIDR.L Sortino Ratio Rank: 00
Sortino Ratio Rank
HIDR.L Omega Ratio Rank: 00
Omega Ratio Rank
HIDR.L Calmar Ratio Rank: 11
Calmar Ratio Rank
HIDR.L Martin Ratio Rank: 00
Martin Ratio Rank
IAU
IAU Risk / Return Rank: 3434
Overall Rank
IAU Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
IAU Sortino Ratio Rank: 3232
Sortino Ratio Rank
IAU Omega Ratio Rank: 3939
Omega Ratio Rank
IAU Calmar Ratio Rank: 3535
Calmar Ratio Rank
IAU Martin Ratio Rank: 2929
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.

HIDR.L vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) and iShares Gold Trust (IAU). 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.

HIDR.LIAUDifference
Sharpe ratioReturn per unit of total volatility
-1.59
1.35

-2.94

Sortino ratioReturn per unit of downside risk
-2.33
1.76

-4.09

Omega ratioGain probability vs. loss probability

0.71

1.27

-0.56

Calmar ratioReturn relative to maximum drawdown

-0.92

1.91

-2.83

Martin ratioReturn relative to average drawdown

-2.56

4.73

-7.29

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

HIDR.L vs. IAU - Sharpe Ratio Comparison

The current HIDR.L Sharpe Ratio is -1.59, which is lower than the IAU Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of HIDR.L and IAU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

HIDR.LIAUDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.59

1.35

-2.94

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.45

1.20

-1.65

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.16

0.88

-1.04

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.10

0.71

-0.81

Drawdowns

HIDR.L vs. IAU - Drawdown Comparison

The maximum HIDR.L drawdown since its inception was -58.31%, which is greater than IAU's maximum drawdown of -41.56%. Use the drawdown chart below to compare losses from any high point for HIDR.L and IAU.

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Drawdown Indicators

HIDR.LIAUDifference

Max Drawdown

Largest peak-to-trough decline

-58.31%

-41.56%

-16.75%

Max Drawdown (1Y)

Largest decline over 1 year

-42.78%

-17.76%

-25.02%

Max Drawdown (3Y)

Largest decline over 3 years

-54.23%

-17.76%

-36.47%

Max Drawdown (5Y)

Largest decline over 5 years

-58.31%

-17.76%

-40.55%

Max Drawdown (10Y)

Largest decline over 10 years

-58.31%

-22.73%

-35.58%

Current Drawdown

Current decline from peak

-58.31%

-16.13%

-42.18%

Average Drawdown

Average peak-to-trough decline

-18.11%

-13.02%

-5.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

15.35%

7.16%

+8.19%

Volatility

HIDR.L vs. IAU - Volatility Comparison

HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) has a higher volatility of 7.79% compared to iShares Gold Trust (IAU) at 4.71%. This indicates that HIDR.L's price experiences larger fluctuations and is considered to be riskier than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HIDR.LIAUDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.79%

4.71%

+3.08%

Volatility (6M)

Calculated over the trailing 6-month period

20.56%

21.63%

-1.07%

Volatility (1Y)

Calculated over the trailing 1-year period

24.69%

25.10%

-0.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.00%

16.65%

+3.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.57%

16.17%

+8.40%

HIDR.L vs. IAU - Expense Ratio Comparison

HIDR.L has a 0.50% expense ratio, which is higher than IAU's 0.25% expense ratio.

Dividends

HIDR.L vs. IAU - Dividend Comparison

HIDR.L's dividend yield for the trailing twelve months is around 6.25%, while IAU has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
HIDR.L
HSBC MSCI Indonesia UCITS ETF USD		6.25%4.87%3.49%3.49%2.04%1.27%1.75%1.61%1.50%1.14%1.12%1.59%
IAU
iShares Gold Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HIDR.L and IAU have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IAU is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IAU is cheaper with a 0.25% expense ratio, compared with 0.50% for HIDR.L.

HIDR.L is categorized as Asia Pacific Equities, while IAU is Gold. HIDR.L tracks MSCI Indonesia NR IDR, while IAU tracks LBMA Gold Price. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.50% for HIDR.L and 0.25% for IAU.

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