HMAD.L vs. VJPU.L
HMAD.L (HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF) and VJPU.L (Vanguard FTSE Japan UCITS ETF USD Hedged Acc) are both Japan Equities funds - HMAD.L tracks the HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF while VJPU.L tracks the FTSE Japan (USD Hedged). Both are passively managed. Over the past 5 years, HMAD.L returned 7.36%/yr vs 22.28%/yr for VJPU.L. At a 0.48 correlation, their price movements are largely independent. HMAD.L charges 0.45%/yr vs 0.20%/yr for VJPU.L.
Performance
HMAD.L vs. VJPU.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 VJPU.L's 21.68% 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%
VJPU.L
- 1D
- -1.00%
- 1M
- 1.01%
- 6M
- 14.24%
- YTD
- 21.68%
- 1Y
- 52.01%
- 3Y*
- 29.40%
- 5Y*
- 22.28%
- 10Y*
- —
HMAD.L vs. VJPU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HMAD.L HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF | 26.73% | 41.42% | 11.84% | 1.71% | -21.78% | -8.81% | 32.68% |
VJPU.L Vanguard FTSE Japan UCITS ETF USD Hedged Acc | 21.68% | 31.51% | 23.81% | 35.67% | -2.33% | 12.22% | 11.64% |
Correlation
The correlation between HMAD.L and VJPU.L is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2020 | 0.48 |
The correlation between HMAD.L and VJPU.L shifts across timeframes, from 0.43 (3 years) to 0.56 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HMAD.L vs. VJPU.L — Risk / Return Rank
HMAD.L
VJPU.L
HMAD.L vs. VJPU.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 Vanguard FTSE Japan UCITS ETF USD Hedged Acc (VJPU.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 | VJPU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.46 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 5.41 | -1.63 |
| Martin ratioReturn relative to average drawdown | 11.13 | 18.53 | -7.41 |
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Drawdowns
HMAD.L vs. VJPU.L - Drawdown Comparison
The maximum HMAD.L drawdown since its inception was -50.05%, which is greater than VJPU.L's maximum drawdown of -27.53%. Use the drawdown chart below to compare losses from any high point for HMAD.L and VJPU.L.
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Drawdown Indicators
| HMAD.L | VJPU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.05% | -27.53% | -22.52% |
Max Drawdown (1Y)Largest decline over 1 year | -12.83% | -9.57% | -3.26% |
Max Drawdown (3Y)Largest decline over 3 years | -19.56% | -21.44% | +1.88% |
Max Drawdown (5Y)Largest decline over 5 years | -43.66% | -21.44% | -22.22% |
Max Drawdown (10Y)Largest decline over 10 years | -50.05% | — | — |
Current DrawdownCurrent decline from peak | -10.65% | -2.71% | -7.94% |
Average DrawdownAverage peak-to-trough decline | -16.49% | -4.11% | -12.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 2.80% | +1.57% |
Volatility
HMAD.L vs. VJPU.L - Volatility Comparison
HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD.L) has a higher volatility of 10.83% compared to Vanguard FTSE Japan UCITS ETF USD Hedged Acc (VJPU.L) at 6.34%. This indicates that HMAD.L's price experiences larger fluctuations and is considered to be riskier than VJPU.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 | VJPU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.83% | 6.34% | +4.49% |
Volatility (6M)Calculated over the trailing 6-month period | 21.87% | 15.82% | +6.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.64% | 19.88% | +4.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.14% | 18.51% | +3.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 19.59% | +1.12% |
HMAD.L vs. VJPU.L - Expense Ratio Comparison
HMAD.L has a 0.45% expense ratio, which is higher than VJPU.L's 0.20% expense ratio.
Dividends
HMAD.L vs. VJPU.L - Dividend Comparison
Neither HMAD.L nor VJPU.L has paid dividends to shareholders.
Frequently Asked Questions
HMAD.L and VJPU.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VJPU.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VJPU.L is cheaper with a 0.20% expense ratio, compared with 0.45% for HMAD.L.
HMAD.L tracks HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF, while VJPU.L tracks FTSE Japan (USD Hedged). They also come from different issuers: HSBC and Vanguard. Their fees differ too: 0.45% for HMAD.L and 0.20% for VJPU.L.
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