HIDR.L vs. PAF.L

Last updated Jun 5, 2026

HIDR.L (HSBC MSCI Indonesia UCITS ETF USD) is Asia Pacific Equities fund tracking the MSCI Indonesia NR IDR, while PAF.L (Pan African Resources plc) is a stock. Over the past 10 years, HIDR.L returned -3.49%/yr vs 26.49%/yr for PAF.L. At a 0.06 correlation, their price movements are largely independent.

Performance

HIDR.L vs. PAF.L - Performance Comparison

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

Returns By Period

In the year-to-date period, HIDR.L achieves a -39.26% return, which is significantly lower than PAF.L's -6.11% return. Over the past 10 years, HIDR.L has underperformed PAF.L with an annualized return of -3.49%, while PAF.L has yielded a comparatively higher 26.49% 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%

PAF.L

• 1D: 1.52%
• 1M: -17.95%
• YTD: -6.11%
• 6M: 5.38%
• 1Y: 137.34%
• 3Y*: 109.11%
• 5Y*: 45.49%
• 10Y*: 26.49%

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

HIDR.L vs. PAF.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
PAF.L Pan African Resources plc	-6.11%	258.03%	109.32%	6.38%	4.14%	-25.77%	102.97%	40.80%	-34.94%	-11.75%

Correlation

The correlation between HIDR.L and PAF.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Apr 5, 2011	0.06

The correlation between HIDR.L and PAF.L shifts across timeframes, from 0.05 (10 years) to 0.16 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HIDR.L vs. PAF.L — 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: 0
HIDR.L Sharpe Ratio Rank: 0
HIDR.L Sortino Ratio Rank: 0
HIDR.L Omega Ratio Rank: 0
HIDR.L Calmar Ratio Rank: 1
HIDR.L Martin Ratio Rank: 0

PAF.L

PAF.L Risk / Return Rank: 88
PAF.L Sharpe Ratio Rank: 92
PAF.L Sortino Ratio Rank: 86
PAF.L Omega Ratio Rank: 86
PAF.L Calmar Ratio Rank: 85
PAF.L Martin Ratio Rank: 89

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. PAF.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) and Pan African Resources plc (PAF.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.

	HIDR.L	PAF.L	Difference
Sharpe ratio: Return per unit of total volatility	-1.59	2.55	-4.14
Sortino ratio: Return per unit of downside risk	-2.33	2.76	-5.09
Omega ratio: Gain probability vs. loss probability	0.71	1.37	-0.66
Calmar ratio: Return relative to maximum drawdown	-0.92	3.50	-4.42
Martin ratio: Return relative to average drawdown	-2.56	11.39	-13.95
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. PAF.L - Sharpe Ratio Comparison

The current HIDR.L Sharpe Ratio is -1.59, which is lower than the PAF.L Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of HIDR.L and PAF.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.

Sharpe Ratios by Period

	HIDR.L	PAF.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.59	2.55	-4.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.45	0.95	-1.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.16	0.49	-0.65
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.34	-0.44

Drawdowns

HIDR.L vs. PAF.L - Drawdown Comparison

The maximum HIDR.L drawdown since its inception was -58.31%, smaller than the maximum PAF.L drawdown of -80.77%. Use the drawdown chart below to compare losses from any high point for HIDR.L and PAF.L.

Drawdown Indicators

	HIDR.L	PAF.L	Difference
Max Drawdown Largest peak-to-trough decline	-58.31%	-80.77%	+22.46%
Max Drawdown (1Y) Largest decline over 1 year	-42.78%	-38.99%	-3.79%
Max Drawdown (3Y) Largest decline over 3 years	-54.23%	-38.99%	-15.24%
Max Drawdown (5Y) Largest decline over 5 years	-58.31%	-47.34%	-10.97%
Max Drawdown (10Y) Largest decline over 10 years	-58.31%	-70.69%	+12.38%
Current Drawdown Current decline from peak	-58.31%	-38.06%	-20.25%
Average Drawdown Average peak-to-trough decline	-18.11%	-29.23%	+11.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.35%	11.99%	+3.36%

Volatility

HIDR.L vs. PAF.L - Volatility Comparison

The current volatility for HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) is 7.79%, while Pan African Resources plc (PAF.L) has a volatility of 22.83%. This indicates that HIDR.L experiences smaller price fluctuations and is considered to be less risky than PAF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIDR.L	PAF.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.79%	22.83%	-15.04%
Volatility (6M) Calculated over the trailing 6-month period	20.56%	44.03%	-23.47%
Volatility (1Y) Calculated over the trailing 1-year period	24.69%	53.58%	-28.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.00%	47.88%	-27.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.57%	53.53%	-28.96%

Dividends

HIDR.L vs. PAF.L - Dividend Comparison

HIDR.L's dividend yield for the trailing twelve months is around 6.25%, more than PAF.L's 1.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
PAF.L Pan African Resources plc	1.93%	1.35%	2.79%	4.52%	5.25%	5.09%	2.92%	0.98%	0.00%	3.37%	5.66%	6.83%

Frequently Asked Questions

Can I hold both HIDR.L and PAF.L in my portfolio?

HIDR.L and PAF.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.