HMCX.L vs. FEUD.L

Last updated Jun 5, 2026

HMCX.L (HSBC FTSE 250 UCITS ETF GBP) and FEUD.L (First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares) are both Europe Equities funds - HMCX.L tracks the FTSE 250 Ex Investment Trust TR GBP while FEUD.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 5 years, HMCX.L returned 0.01%/yr vs 11.77%/yr for FEUD.L. A 0.58 correlation means they provide meaningful diversification when combined. HMCX.L charges 0.35%/yr vs 0.75%/yr for FEUD.L.

Performance

HMCX.L vs. FEUD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC FTSE 250 UCITS ETF GBP (HMCX.L) and First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares (FEUD.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HMCX.L achieves a 4.02% return, which is significantly lower than FEUD.L's 12.54% return.

HMCX.L

• 1D: 0.46%
• 1M: 4.18%
• YTD: 4.02%
• 6M: 5.81%
• 1Y: 9.84%
• 3Y*: 6.41%
• 5Y*: 0.01%
• 10Y*: 2.70%

FEUD.L

• 1D: 0.31%
• 1M: 3.05%
• YTD: 12.54%
• 6M: 15.59%
• 1Y: 34.15%
• 3Y*: 22.60%
• 5Y*: 11.77%
• 10Y*: —

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

HMCX.L vs. FEUD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HMCX.L HSBC FTSE 250 UCITS ETF GBP	4.02%	8.36%	3.93%	4.54%	-19.69%	13.90%	-7.19%	25.24%	-13.33%
FEUD.L First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares	12.54%	47.89%	4.04%	10.07%	-9.74%	13.79%	0.98%	17.82%	-15.76%

Correlation

The correlation between HMCX.L and FEUD.L is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Sep 10, 2018	0.58

The correlation between HMCX.L and FEUD.L has been stable across timeframes, ranging from 0.58 to 0.63 - a consistent structural relationship.

HMCX.L vs. FEUD.L - Sectors Allocation Comparison

Sectors	HMCX.L	FEUD.L
Industrials	19.9%	27.4%
Financial Services	19.5%	10.6%
Consumer Cyclical	13.4%	9.2%
Real Estate	9.5%	6.0%
Technology	9.0%	6.0%
Basic Materials	6.7%	7.5%
Consumer Defensive	6.2%	5.3%
Communication Services	5.9%	3.7%
Healthcare	4.4%	5.2%
Utilities	3.0%	8.3%
Energy	2.5%	10.8%

Return for Risk

HMCX.L vs. FEUD.L — Risk / Return Rank

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

HMCX.L

HMCX.L Risk / Return Rank: 22
HMCX.L Sharpe Ratio Rank: 22
HMCX.L Sortino Ratio Rank: 22
HMCX.L Omega Ratio Rank: 22
HMCX.L Calmar Ratio Rank: 19
HMCX.L Martin Ratio Rank: 22

FEUD.L

FEUD.L Risk / Return Rank: 76
FEUD.L Sharpe Ratio Rank: 82
FEUD.L Sortino Ratio Rank: 77
FEUD.L Omega Ratio Rank: 81
FEUD.L Calmar Ratio Rank: 72
FEUD.L Martin Ratio Rank: 70

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.

HMCX.L vs. FEUD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC FTSE 250 UCITS ETF GBP (HMCX.L) and First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares (FEUD.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.

	HMCX.L	FEUD.L	Difference
Sharpe ratio: Return per unit of total volatility	0.75	2.60	-1.86
Sortino ratio: Return per unit of downside risk	1.18	3.38	-2.20
Omega ratio: Gain probability vs. loss probability	1.14	1.47	-0.33
Calmar ratio: Return relative to maximum drawdown	0.80	3.56	-2.76
Martin ratio: Return relative to average drawdown	2.76	12.70	-9.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HMCX.L vs. FEUD.L - Sharpe Ratio Comparison

The current HMCX.L Sharpe Ratio is 0.75, which is lower than the FEUD.L Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of HMCX.L and FEUD.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HMCX.L	FEUD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	2.60	-1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.79	-0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.56	-0.26

Drawdowns

HMCX.L vs. FEUD.L - Drawdown Comparison

The maximum HMCX.L drawdown since its inception was -41.87%, which is greater than FEUD.L's maximum drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for HMCX.L and FEUD.L.

Drawdown Indicators

	HMCX.L	FEUD.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.87%	-34.17%	-7.70%
Max Drawdown (1Y) Largest decline over 1 year	-12.19%	-10.60%	-1.59%
Max Drawdown (3Y) Largest decline over 3 years	-17.36%	-14.03%	-3.33%
Max Drawdown (5Y) Largest decline over 5 years	-31.75%	-23.21%	-8.54%
Max Drawdown (10Y) Largest decline over 10 years	-41.87%	—	—
Current Drawdown Current decline from peak	-5.53%	-0.04%	-5.49%
Average Drawdown Average peak-to-trough decline	-9.50%	-6.69%	-2.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	2.85%	+0.71%

Volatility

HMCX.L vs. FEUD.L - Volatility Comparison

HSBC FTSE 250 UCITS ETF GBP (HMCX.L) has a higher volatility of 4.57% compared to First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares (FEUD.L) at 3.98%. This indicates that HMCX.L's price experiences larger fluctuations and is considered to be riskier than FEUD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HMCX.L	FEUD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.57%	3.98%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	11.16%	11.63%	-0.47%
Volatility (1Y) Calculated over the trailing 1-year period	13.15%	14.52%	-1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	17.64%	-2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.17%	19.89%	-3.72%

HMCX.L vs. FEUD.L - Expense Ratio Comparison

HMCX.L has a 0.35% expense ratio, which is lower than FEUD.L's 0.75% expense ratio.

Dividends

HMCX.L vs. FEUD.L - Dividend Comparison

HMCX.L's dividend yield for the trailing twelve months is around 0.04%, less than FEUD.L's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEUD.L First Trust Eurozone AlphaDEX® UCITS ETF Class B Shares	2.76%	3.05%	3.72%	2.76%	2.50%	1.94%	1.01%	1.75%	0.00%	0.00%	0.00%	0.00%
HMCX.L HSBC FTSE 250 UCITS ETF GBP	0.04%	0.04%	0.03%	0.03%	0.03%	0.02%	0.02%	0.03%	0.03%	0.03%	0.03%	0.03%

Frequently Asked Questions

Can I hold both HMCX.L and FEUD.L in my portfolio?

HMCX.L and FEUD.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HMCX.L or FEUD.L?

On fees, HMCX.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HMCX.L or FEUD.L?

HMCX.L is cheaper with a 0.35% expense ratio, compared with 0.75% for FEUD.L.

What is the main difference between HMCX.L and FEUD.L?

HMCX.L tracks FTSE 250 Ex Investment Trust TR GBP, while FEUD.L tracks MSCI EMU NR EUR. They also come from different issuers: HSBC and First Trust. Their fees differ too: 0.35% for HMCX.L and 0.75% for FEUD.L.