HMAD.L vs. LGJP.L
HMAD.L (HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF) and LGJP.L (L&G Japan Equity UCITS ETF) are both Japan Equities funds - HMAD.L tracks the HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF while LGJP.L tracks the L&G Japan Equity UCITS ETF. Both are passively managed. Over the past 5 years, HMAD.L returned 7.36%/yr vs 9.51%/yr for LGJP.L. A 0.58 correlation means they provide meaningful diversification when combined. HMAD.L charges 0.45%/yr vs 0.10%/yr for LGJP.L.
Performance
HMAD.L vs. LGJP.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 LGJP.L's 15.08% 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%
LGJP.L
- 1D
- -0.68%
- 1M
- -0.39%
- 6M
- 9.30%
- YTD
- 15.08%
- 1Y
- 33.92%
- 3Y*
- 17.92%
- 5Y*
- 9.51%
- 10Y*
- —
HMAD.L vs. LGJP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -1.70% |
LGJP.L L&G Japan Equity UCITS ETF | 15.08% | 25.67% | 8.35% | 20.25% | -16.76% | 1.05% | 16.58% | 18.59% | -7.06% |
Correlation
The correlation between HMAD.L and LGJP.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.58 |
The correlation between HMAD.L and LGJP.L has been stable across timeframes, ranging from 0.54 to 0.61 - a consistent structural relationship.
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Return for Risk
HMAD.L vs. LGJP.L — Risk / Return Rank
HMAD.L
LGJP.L
HMAD.L vs. LGJP.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 L&G Japan Equity UCITS ETF (LGJP.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 | LGJP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.29 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 2.53 | +1.25 |
| Martin ratioReturn relative to average drawdown | 11.13 | 8.18 | +2.94 |
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Drawdowns
HMAD.L vs. LGJP.L - Drawdown Comparison
The maximum HMAD.L drawdown since its inception was -50.05%, which is greater than LGJP.L's maximum drawdown of -32.19%. Use the drawdown chart below to compare losses from any high point for HMAD.L and LGJP.L.
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Drawdown Indicators
| HMAD.L | LGJP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.05% | -32.19% | -17.86% |
Max Drawdown (1Y)Largest decline over 1 year | -12.83% | -13.20% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -19.56% | -14.30% | -5.26% |
Max Drawdown (5Y)Largest decline over 5 years | -43.66% | -32.19% | -11.47% |
Max Drawdown (10Y)Largest decline over 10 years | -50.05% | — | — |
Current DrawdownCurrent decline from peak | -10.65% | -3.27% | -7.38% |
Average DrawdownAverage peak-to-trough decline | -16.49% | -7.57% | -8.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 4.08% | +0.29% |
Volatility
HMAD.L vs. LGJP.L - Volatility Comparison
HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD.L) has a higher volatility of 10.83% compared to L&G Japan Equity UCITS ETF (LGJP.L) at 6.42%. This indicates that HMAD.L's price experiences larger fluctuations and is considered to be riskier than LGJP.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 | LGJP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.83% | 6.42% | +4.41% |
Volatility (6M)Calculated over the trailing 6-month period | 21.87% | 17.61% | +4.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.64% | 21.09% | +3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.14% | 18.15% | +3.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 18.30% | +2.41% |
HMAD.L vs. LGJP.L - Expense Ratio Comparison
HMAD.L has a 0.45% expense ratio, which is higher than LGJP.L's 0.10% expense ratio.
Dividends
HMAD.L vs. LGJP.L - Dividend Comparison
Neither HMAD.L nor LGJP.L has paid dividends to shareholders.
Frequently Asked Questions
HMAD.L and LGJP.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LGJP.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGJP.L is cheaper with a 0.10% expense ratio, compared with 0.45% for HMAD.L.
HMAD.L tracks HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF, while LGJP.L tracks L&G Japan Equity UCITS ETF. They also come from different issuers: HSBC and L&G. Their fees differ too: 0.45% for HMAD.L and 0.10% for LGJP.L.
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