HMCT.L vs. C500.L

Last updated Apr 2, 2026

Compare and contrast key facts about HSBC MSCI CHINA A UCITS ETF (HMCT.L) and Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (C500.L).

HMCT.L and C500.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HMCT.L is a passively managed fund by HSBC that tracks the performance of the MSCI China A Onshore NR CNY. It was launched on Jul 27, 2018. C500.L is a passively managed fund by Invesco that tracks the performance of the S&P China A MidCap 500 Index. It was launched on May 5, 2022. Both HMCT.L and C500.L 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

HMCT.L vs. C500.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC MSCI CHINA A UCITS ETF (HMCT.L) and Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (C500.L). The values are adjusted to include any dividend payments, if applicable.

HMCT.L vs. C500.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HMCT.L HSBC MSCI CHINA A UCITS ETF	-0.47%	25.90%	11.76%	-13.92%	-10.66%
C500.L Invesco S&P China A MidCap 500 Swap UCITS ETF Acc	5.88%	46.93%	20.08%	-11.13%	-7.65%

Returns By Period

In the year-to-date period, HMCT.L achieves a -0.47% return, which is significantly lower than C500.L's 5.88% return.

HMCT.L

• 1D: 1.24%
• 1M: -4.65%
• YTD: -0.47%
• 6M: 1.01%
• 1Y: 25.68%
• 3Y*: 4.73%
• 5Y*: -1.22%
• 10Y*: —

C500.L

• 1D: 1.50%
• 1M: -7.91%
• YTD: 5.88%
• 6M: 11.63%
• 1Y: 50.31%
• 3Y*: 15.25%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HMCT.L vs. C500.L - Expense Ratio Comparison

HMCT.L has a 0.30% expense ratio, which is lower than C500.L's 0.35% expense ratio.

C500.L

Invesco S&P China A MidCap 500 Swap UCITS ETF Acc

HMCT.L

HSBC MSCI CHINA A UCITS ETF

Return for Risk

HMCT.L vs. C500.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HMCT.L

HMCT.L Risk / Return Rank: 77
HMCT.L Sharpe Ratio Rank: 76
HMCT.L Sortino Ratio Rank: 72
HMCT.L Omega Ratio Rank: 72
HMCT.L Calmar Ratio Rank: 82
HMCT.L Martin Ratio Rank: 82

C500.L

C500.L Risk / Return Rank: 89
C500.L Sharpe Ratio Rank: 91
C500.L Sortino Ratio Rank: 90
C500.L Omega Ratio Rank: 89
C500.L Calmar Ratio Rank: 85
C500.L Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HMCT.L vs. C500.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI CHINA A UCITS ETF (HMCT.L) and Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (C500.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.

	HMCT.L	C500.L	Difference
Sharpe ratio Return per unit of total volatility	1.47	2.17	-0.70
Sortino ratio Return per unit of downside risk	1.92	2.68	-0.76
Omega ratio Gain probability vs. loss probability	1.28	1.39	-0.11
Calmar ratio Return relative to maximum drawdown	2.58	2.86	-0.28
Martin ratio Return relative to average drawdown	9.99	12.08	-2.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HMCT.L vs. C500.L - Sharpe Ratio Comparison

The current HMCT.L Sharpe Ratio is 1.47, which is lower than the C500.L Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of HMCT.L and C500.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HMCT.L	C500.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	2.17	-0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.74	-0.50

Correlation

The correlation between HMCT.L and C500.L is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HMCT.L vs. C500.L - Dividend Comparison

HMCT.L's dividend yield for the trailing twelve months is around 1.85%, while C500.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019
HMCT.L HSBC MSCI CHINA A UCITS ETF	1.85%	1.73%	2.03%	2.16%	1.69%	1.12%	0.84%	1.71%
C500.L Invesco S&P China A MidCap 500 Swap UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

HMCT.L vs. C500.L - Drawdown Comparison

The maximum HMCT.L drawdown since its inception was -49.06%, which is greater than C500.L's maximum drawdown of -30.23%. Use the drawdown chart below to compare losses from any high point for HMCT.L and C500.L.

Drawdown Indicators

	HMCT.L	C500.L	Difference
Max Drawdown Largest peak-to-trough decline	-49.06%	-30.23%	-18.83%
Max Drawdown (1Y) Largest decline over 1 year	-11.15%	-14.14%	+2.99%
Max Drawdown (5Y) Largest decline over 5 years	-44.79%	—	—
Current Drawdown Current decline from peak	-20.17%	-9.27%	-10.90%
Average Drawdown Average peak-to-trough decline	-21.82%	-7.78%	-14.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	3.74%	-1.16%

Volatility

HMCT.L vs. C500.L - Volatility Comparison

The current volatility for HSBC MSCI CHINA A UCITS ETF (HMCT.L) is 4.87%, while Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (C500.L) has a volatility of 7.54%. This indicates that HMCT.L experiences smaller price fluctuations and is considered to be less risky than C500.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HMCT.L	C500.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	7.54%	-2.67%
Volatility (6M) Calculated over the trailing 6-month period	11.22%	16.24%	-5.02%
Volatility (1Y) Calculated over the trailing 1-year period	17.40%	24.11%	-6.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.29%	40.23%	-17.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.78%	40.23%	-16.45%