HMAD.L vs. ISJP.L
HMAD.L (HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF) and ISJP.L (iShares MSCI Japan Small Cap UCITS ETF (Dist)) are both Japan Equities funds - HMAD.L tracks the HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF while ISJP.L tracks the MSCI Japan Small Cap NR JPY. Both are passively managed. Over the past 10 years, HMAD.L returned 9.94%/yr vs 8.10%/yr for ISJP.L. At a 0.48 correlation, their price movements are largely independent. HMAD.L charges 0.45%/yr vs 0.58%/yr for ISJP.L.
Performance
HMAD.L vs. ISJP.L - Performance Comparison
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Different Trading Currencies
HMAD.L is traded in USD, while ISJP.L is traded in GBp. To make them comparable, the ISJP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HMAD.L achieves a 26.73% return, which is significantly higher than ISJP.L's 16.53% return. Over the past 10 years, HMAD.L has outperformed ISJP.L with an annualized return of 9.94%, while ISJP.L has yielded a comparatively lower 8.10% 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%
ISJP.L
- 1D
- -0.31%
- 1M
- 1.90%
- 6M
- 12.06%
- YTD
- 16.53%
- 1Y
- 31.78%
- 3Y*
- 17.79%
- 5Y*
- 7.92%
- 10Y*
- 8.10%
HMAD.L vs. ISJP.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% |
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 16.53% | 30.01% | 3.24% | 12.66% | -12.49% | -2.90% | 7.72% | 18.51% | -16.97% | 30.71% |
Correlation
The correlation between HMAD.L and ISJP.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2013 | 0.48 |
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Return for Risk
HMAD.L vs. ISJP.L — Risk / Return Rank
HMAD.L
ISJP.L
HMAD.L vs. ISJP.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 Small Cap UCITS ETF (Dist) (ISJP.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 | ISJP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.32 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 2.68 | +1.10 |
| Martin ratioReturn relative to average drawdown | 11.13 | 8.63 | +2.49 |
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Drawdowns
HMAD.L vs. ISJP.L - Drawdown Comparison
The maximum HMAD.L drawdown since its inception was -50.05%, smaller than the maximum ISJP.L drawdown of -69.60%. Use the drawdown chart below to compare losses from any high point for HMAD.L and ISJP.L.
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Drawdown Indicators
| HMAD.L | ISJP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.05% | -69.60% | +19.55% |
Max Drawdown (1Y)Largest decline over 1 year | -12.83% | -11.79% | -1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -19.56% | -12.58% | -6.98% |
Max Drawdown (5Y)Largest decline over 5 years | -43.66% | -33.09% | -10.57% |
Max Drawdown (10Y)Largest decline over 10 years | -50.05% | -36.04% | -14.01% |
Current DrawdownCurrent decline from peak | -10.65% | -1.97% | -8.68% |
Average DrawdownAverage peak-to-trough decline | -16.49% | -30.31% | +13.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 3.67% | +0.70% |
Volatility
HMAD.L vs. ISJP.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 Small Cap UCITS ETF (Dist) (ISJP.L) at 4.99%. This indicates that HMAD.L's price experiences larger fluctuations and is considered to be riskier than ISJP.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 | ISJP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.83% | 4.99% | +5.84% |
Volatility (6M)Calculated over the trailing 6-month period | 21.87% | 14.87% | +7.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.64% | 17.30% | +7.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.14% | 16.30% | +5.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 16.51% | +4.20% |
HMAD.L vs. ISJP.L - Expense Ratio Comparison
HMAD.L has a 0.45% expense ratio, which is lower than ISJP.L's 0.58% expense ratio.
Dividends
HMAD.L vs. ISJP.L - Dividend Comparison
HMAD.L has not paid dividends to shareholders, while ISJP.L's dividend yield for the trailing twelve months is around 0.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMAD.L HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 0.86% | 1.85% | 1.73% | 1.77% | 1.99% | 1.52% | 1.58% | 1.53% | 1.39% | 1.29% | 1.07% | 0.67% |
Frequently Asked Questions
HMAD.L and ISJP.L have a correlation of 0.41, 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 0.58% for ISJP.L.
HMAD.L tracks HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF, while ISJP.L tracks MSCI Japan Small Cap NR JPY. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.45% for HMAD.L and 0.58% for ISJP.L.
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