HMEF.L vs. AMEG.L
HMEF.L (HSBC MSCI Emerging Markets UCITS ETF USD) and AMEG.L (Amundi Index MSCI Emerging Markets SRI PAB UCITS ETF DR GBP (D)) are both Emerging Markets Equities funds tracking the MSCI EM NR USD, from HSBC and Amundi respectively. Both are passively managed. Over the past 3 years, HMEF.L returned 17.76%/yr vs 12.91%/yr for AMEG.L. Their correlation of 0.92 suggests significant overlap in exposure. HMEF.L charges 0.15%/yr vs 0.16%/yr for AMEG.L.
Performance
HMEF.L vs. AMEG.L - Performance Comparison
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Returns By Period
In the year-to-date period, HMEF.L achieves a 25.52% return, which is significantly higher than AMEG.L's 15.84% return.
HMEF.L
- 1D
- -1.66%
- 1M
- 6.53%
- YTD
- 25.52%
- 6M
- 27.29%
- 1Y
- 51.20%
- 3Y*
- 17.76%
- 5Y*
- 5.72%
- 10Y*
- 8.47%
AMEG.L
- 1D
- -1.18%
- 1M
- 3.32%
- YTD
- 15.84%
- 6M
- 16.20%
- 1Y
- 34.85%
- 3Y*
- 12.91%
- 5Y*
- —
- 10Y*
- —
HMEF.L vs. AMEG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HMEF.L HSBC MSCI Emerging Markets UCITS ETF USD | 25.52% | 21.88% | 6.43% | -0.16% | -4.08% |
AMEG.L Amundi Index MSCI Emerging Markets SRI PAB UCITS ETF DR GBP (D) | 15.84% | 19.33% | 6.23% | -5.48% | -1.10% |
Correlation
The correlation between HMEF.L and AMEG.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022 | 0.92 |
The correlation between HMEF.L and AMEG.L has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
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Return for Risk
HMEF.L vs. AMEG.L — Risk / Return Rank
HMEF.L
AMEG.L
HMEF.L vs. AMEG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.L) and Amundi Index MSCI Emerging Markets SRI PAB UCITS ETF DR GBP (D) (AMEG.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.
| HMEF.L | AMEG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.40 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 4.60 | 3.55 | +1.05 |
| Martin ratioReturn relative to average drawdown | 15.90 | 11.17 | +4.73 |
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
| HMEF.L | AMEG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.99 | 2.22 | +0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.53 | -0.26 |
Drawdowns
HMEF.L vs. AMEG.L - Drawdown Comparison
The maximum HMEF.L drawdown since its inception was -32.91%, which is greater than AMEG.L's maximum drawdown of -18.35%. Use the drawdown chart below to compare losses from any high point for HMEF.L and AMEG.L.
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Drawdown Indicators
| HMEF.L | AMEG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.91% | -18.35% | -14.56% |
Max Drawdown (1Y)Largest decline over 1 year | -11.07% | -9.78% | -1.29% |
Max Drawdown (3Y)Largest decline over 3 years | -15.40% | -18.35% | +2.95% |
Max Drawdown (5Y)Largest decline over 5 years | -26.99% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.58% | — | — |
Current DrawdownCurrent decline from peak | -2.56% | -2.10% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -12.28% | -6.76% | -5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 3.11% | +0.10% |
Volatility
HMEF.L vs. AMEG.L - Volatility Comparison
HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.L) has a higher volatility of 7.42% compared to Amundi Index MSCI Emerging Markets SRI PAB UCITS ETF DR GBP (D) (AMEG.L) at 6.11%. This indicates that HMEF.L's price experiences larger fluctuations and is considered to be riskier than AMEG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMEF.L | AMEG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.42% | 6.11% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 14.61% | 12.90% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.04% | 15.64% | +1.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.23% | 15.65% | +0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.92% | 15.65% | +2.27% |
HMEF.L vs. AMEG.L - Expense Ratio Comparison
HMEF.L has a 0.15% expense ratio, which is lower than AMEG.L's 0.16% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HMEF.L vs. AMEG.L - Dividend Comparison
HMEF.L's dividend yield for the trailing twelve months is around 0.02%, less than AMEG.L's 1.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMEG.L Amundi Index MSCI Emerging Markets SRI PAB UCITS ETF DR GBP (D) | 1.72% | 1.99% | 2.06% | 2.38% | 1.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HMEF.L HSBC MSCI Emerging Markets UCITS ETF USD | 0.02% | 0.02% | 0.02% | 0.03% | 0.03% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
Frequently Asked Questions
With a correlation of 0.92, HMEF.L and AMEG.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, HMEF.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HMEF.L is cheaper with a 0.15% expense ratio, compared with 0.16% for AMEG.L.
Both ETFs track MSCI EM NR USD. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.15% for HMEF.L and 0.16% for AMEG.L.
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