HMAD.L vs. DXJA.L
HMAD.L (HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF) and DXJA.L (WisdomTree Japan Equity UCITS ETF USD Hedged Acc) are both Japan Equities funds - HMAD.L tracks the HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF while DXJA.L tracks the WisdomTree Japan Hedged Equity UCITS Index. Both are passively managed. Over the past 5 years, HMAD.L returned 7.36%/yr vs 27.43%/yr for DXJA.L. At a 0.47 correlation, their price movements are largely independent. HMAD.L charges 0.45%/yr vs 0.48%/yr for DXJA.L.
Performance
HMAD.L vs. DXJA.L - Performance Comparison
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Returns By Period
In the year-to-date period, HMAD.L achieves a 26.73% return, which is significantly higher than DXJA.L's 23.53% return.
HMAD.L
- 1D
- -1.11%
- 1M
- -8.23%
- 6M
- 19.23%
- YTD
- 26.73%
- 1Y
- 48.95%
- 3Y*
- 24.40%
- 5Y*
- 7.36%
- 10Y*
- 9.94%
DXJA.L
- 1D
- -0.74%
- 1M
- 2.08%
- 6M
- 15.31%
- YTD
- 23.53%
- 1Y
- 55.91%
- 3Y*
- 33.11%
- 5Y*
- 27.43%
- 10Y*
- —
HMAD.L vs. DXJA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HMAD.L HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF | 26.73% | 41.42% | 11.84% | 1.71% | -21.78% | -8.81% | 26.05% | 17.57% | -14.95% | 29.99% |
DXJA.L WisdomTree Japan Equity UCITS ETF USD Hedged Acc | 23.53% | 33.46% | 28.94% | 41.24% | 6.24% | 17.35% | 4.48% | 17.49% | -18.94% | 18.13% |
Correlation
The correlation between HMAD.L and DXJA.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2017 | 0.47 |
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Return for Risk
HMAD.L vs. DXJA.L — Risk / Return Rank
HMAD.L
DXJA.L
HMAD.L vs. DXJA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD.L) and WisdomTree Japan Equity UCITS ETF USD Hedged Acc (DXJA.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.
| HMAD.L | DXJA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.49 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 5.51 | -1.73 |
| Martin ratioReturn relative to average drawdown | 11.13 | 18.98 | -7.86 |
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Drawdowns
HMAD.L vs. DXJA.L - Drawdown Comparison
The maximum HMAD.L drawdown since its inception was -50.05%, which is greater than DXJA.L's maximum drawdown of -37.51%. Use the drawdown chart below to compare losses from any high point for HMAD.L and DXJA.L.
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Drawdown Indicators
| HMAD.L | DXJA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.05% | -37.51% | -12.54% |
Max Drawdown (1Y)Largest decline over 1 year | -12.83% | -10.10% | -2.73% |
Max Drawdown (3Y)Largest decline over 3 years | -19.56% | -23.01% | +3.45% |
Max Drawdown (5Y)Largest decline over 5 years | -43.66% | -23.01% | -20.65% |
Max Drawdown (10Y)Largest decline over 10 years | -50.05% | — | — |
Current DrawdownCurrent decline from peak | -10.65% | -1.57% | -9.08% |
Average DrawdownAverage peak-to-trough decline | -16.49% | -6.66% | -9.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 2.94% | +1.43% |
Volatility
HMAD.L vs. DXJA.L - Volatility Comparison
HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD.L) has a higher volatility of 10.83% compared to WisdomTree Japan Equity UCITS ETF USD Hedged Acc (DXJA.L) at 5.86%. This indicates that HMAD.L's price experiences larger fluctuations and is considered to be riskier than DXJA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMAD.L | DXJA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.83% | 5.86% | +4.97% |
Volatility (6M)Calculated over the trailing 6-month period | 21.87% | 16.15% | +5.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.64% | 20.12% | +4.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.14% | 19.40% | +2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 19.24% | +1.47% |
HMAD.L vs. DXJA.L - Expense Ratio Comparison
HMAD.L has a 0.45% expense ratio, which is lower than DXJA.L's 0.48% expense ratio.
Dividends
HMAD.L vs. DXJA.L - Dividend Comparison
Neither HMAD.L nor DXJA.L has paid dividends to shareholders.
Frequently Asked Questions
HMAD.L and DXJA.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HMAD.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HMAD.L is cheaper with a 0.45% expense ratio, compared with 0.48% for DXJA.L.
HMAD.L tracks HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF, while DXJA.L tracks WisdomTree Japan Hedged Equity UCITS Index. They also come from different issuers: HSBC and WisdomTree. Their fees differ too: 0.45% for HMAD.L and 0.48% for DXJA.L.
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