HMCD.L vs. FXI
Compare and contrast key facts about HSBC MSCI China UCITS ETF (HMCD.L) and iShares China Large-Cap ETF (FXI).
HMCD.L and FXI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HMCD.L is a passively managed fund by HSBC that tracks the performance of the MSCI China NR USD. It was launched on Jan 26, 2011. FXI is a passively managed fund by iShares that tracks the performance of the FTSE China 25 Index. It was launched on Oct 5, 2004. Both HMCD.L and FXI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
HMCD.L vs. FXI - Performance Comparison
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HMCD.L vs. FXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HMCD.L HSBC MSCI China UCITS ETF | -6.72% | 31.58% | 18.68% | -11.51% | -22.53% | -22.09% | 29.32% | 21.59% | -18.94% | 54.07% |
FXI iShares China Large-Cap ETF | -7.13% | 28.95% | 28.98% | -12.42% | -20.66% | -20.06% | 8.92% | 14.90% | -13.28% | 36.26% |
Returns By Period
In the year-to-date period, HMCD.L achieves a -6.72% return, which is significantly higher than FXI's -7.13% return. Over the past 10 years, HMCD.L has outperformed FXI with an annualized return of 5.01%, while FXI has yielded a comparatively lower 3.03% annualized return.
HMCD.L
- 1D
- 1.60%
- 1M
- -3.47%
- YTD
- -6.72%
- 6M
- -13.90%
- 1Y
- 5.22%
- 3Y*
- 7.01%
- 5Y*
- -5.19%
- 10Y*
- 5.01%
FXI
- 1D
- -0.95%
- 1M
- -3.63%
- YTD
- -7.13%
- 6M
- -13.13%
- 1Y
- 1.94%
- 3Y*
- 9.04%
- 5Y*
- -3.44%
- 10Y*
- 3.03%
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HMCD.L vs. FXI - Expense Ratio Comparison
HMCD.L has a 0.30% expense ratio, which is lower than FXI's 0.74% expense ratio.
Return for Risk
HMCD.L vs. FXI — Risk / Return Rank
HMCD.L
FXI
HMCD.L vs. FXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI China UCITS ETF (HMCD.L) and iShares China Large-Cap ETF (FXI). 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.
| HMCD.L | FXI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.23 | 0.08 | +0.15 |
Sortino ratioReturn per unit of downside risk | 0.47 | 0.28 | +0.19 |
Omega ratioGain probability vs. loss probability | 1.06 | 1.04 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.36 | 0.10 | +0.26 |
Martin ratioReturn relative to average drawdown | 0.93 | 0.29 | +0.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HMCD.L | FXI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.23 | 0.08 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.18 | -0.11 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.11 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.17 | -0.05 |
Correlation
The correlation between HMCD.L and FXI is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
HMCD.L vs. FXI - Dividend Comparison
HMCD.L's dividend yield for the trailing twelve months is around 2.14%, less than FXI's 2.60% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMCD.L HSBC MSCI China UCITS ETF | 2.14% | 2.25% | 2.20% | 2.08% | 1.95% | 1.31% | 0.86% | 1.59% | 1.46% | 0.75% | 2.07% | 2.95% |
FXI iShares China Large-Cap ETF | 2.60% | 2.42% | 1.76% | 3.17% | 2.61% | 1.60% | 2.19% | 2.74% | 2.69% | 2.31% | 2.69% | 2.90% |
Drawdowns
HMCD.L vs. FXI - Drawdown Comparison
The maximum HMCD.L drawdown since its inception was -62.46%, smaller than the maximum FXI drawdown of -72.68%. Use the drawdown chart below to compare losses from any high point for HMCD.L and FXI.
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Drawdown Indicators
| HMCD.L | FXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.46% | -72.68% | +10.22% |
Max Drawdown (1Y)Largest decline over 1 year | -16.95% | -16.74% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -56.34% | -55.14% | -1.20% |
Max Drawdown (10Y)Largest decline over 10 years | -62.46% | -60.81% | -1.65% |
Current DrawdownCurrent decline from peak | -34.66% | -26.87% | -7.79% |
Average DrawdownAverage peak-to-trough decline | -24.20% | -31.27% | +7.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.52% | 5.89% | +0.63% |
Volatility
HMCD.L vs. FXI - Volatility Comparison
HSBC MSCI China UCITS ETF (HMCD.L) and iShares China Large-Cap ETF (FXI) have volatilities of 6.69% and 6.74%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMCD.L | FXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.69% | 6.74% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 14.05% | 14.71% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.24% | 24.29% | -2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.07% | 31.64% | -2.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.09% | 27.70% | -1.61% |