HMAD.L vs. IJPD.L
HMAD.L (HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF) and IJPD.L (iShares MSCI Japan USD Hedged UCITS ETF Accumulating) are both Japan Equities funds - HMAD.L tracks the HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF while IJPD.L tracks the MSCI Japan 100% Hedged to USD Net TR Index. Both are passively managed. Over the past 10 years, HMAD.L returned 9.94%/yr vs 16.33%/yr for IJPD.L. A 0.53 correlation means they provide meaningful diversification when combined. HMAD.L charges 0.45%/yr vs 0.64%/yr for IJPD.L.
Performance
HMAD.L vs. IJPD.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 IJPD.L's 22.10% return. Over the past 10 years, HMAD.L has underperformed IJPD.L with an annualized return of 9.94%, while IJPD.L has yielded a comparatively higher 16.33% annualized 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%
IJPD.L
- 1D
- -1.07%
- 1M
- 0.56%
- 6M
- 14.39%
- YTD
- 22.10%
- 1Y
- 52.00%
- 3Y*
- 28.86%
- 5Y*
- 21.89%
- 10Y*
- 16.33%
HMAD.L vs. IJPD.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% | 42.10% |
IJPD.L iShares MSCI Japan USD Hedged UCITS ETF Accumulating | 22.10% | 29.04% | 24.14% | 35.59% | -3.08% | 12.22% | 10.80% | 18.74% | -14.26% | 20.81% |
Correlation
The correlation between HMAD.L and IJPD.L is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2013 | 0.53 |
The correlation between HMAD.L and IJPD.L shifts across timeframes, from 0.44 (3 years) to 0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HMAD.L vs. IJPD.L — Risk / Return Rank
HMAD.L
IJPD.L
HMAD.L vs. IJPD.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 iShares MSCI Japan USD Hedged UCITS ETF Accumulating (IJPD.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 | IJPD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.45 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 5.55 | -1.77 |
| Martin ratioReturn relative to average drawdown | 11.13 | 18.34 | -7.21 |
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Drawdowns
HMAD.L vs. IJPD.L - Drawdown Comparison
The maximum HMAD.L drawdown since its inception was -50.05%, which is greater than IJPD.L's maximum drawdown of -31.09%. Use the drawdown chart below to compare losses from any high point for HMAD.L and IJPD.L.
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Drawdown Indicators
| HMAD.L | IJPD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.05% | -31.09% | -18.96% |
Max Drawdown (1Y)Largest decline over 1 year | -12.83% | -9.32% | -3.51% |
Max Drawdown (3Y)Largest decline over 3 years | -19.56% | -21.80% | +2.24% |
Max Drawdown (5Y)Largest decline over 5 years | -43.66% | -21.80% | -21.86% |
Max Drawdown (10Y)Largest decline over 10 years | -50.05% | -31.09% | -18.96% |
Current DrawdownCurrent decline from peak | -10.65% | -3.28% | -7.37% |
Average DrawdownAverage peak-to-trough decline | -16.49% | -6.71% | -9.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 2.83% | +1.54% |
Volatility
HMAD.L vs. IJPD.L - Volatility Comparison
HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD.L) has a higher volatility of 10.83% compared to iShares MSCI Japan USD Hedged UCITS ETF Accumulating (IJPD.L) at 6.63%. This indicates that HMAD.L's price experiences larger fluctuations and is considered to be riskier than IJPD.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 | IJPD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.83% | 6.63% | +4.20% |
Volatility (6M)Calculated over the trailing 6-month period | 21.87% | 16.49% | +5.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.64% | 20.77% | +3.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.14% | 18.97% | +3.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 18.64% | +2.07% |
HMAD.L vs. IJPD.L - Expense Ratio Comparison
HMAD.L has a 0.45% expense ratio, which is lower than IJPD.L's 0.64% expense ratio.
Dividends
HMAD.L vs. IJPD.L - Dividend Comparison
Neither HMAD.L nor IJPD.L has paid dividends to shareholders.
Frequently Asked Questions
HMAD.L and IJPD.L have a correlation of 0.58, 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 0.64% for IJPD.L.
HMAD.L tracks HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF, while IJPD.L tracks MSCI Japan 100% Hedged to USD Net TR Index. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.45% for HMAD.L and 0.64% for IJPD.L.
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