PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HMEU.L vs. JRDE.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HMEU.L vs. JRDE.L

Last updated Jun 5, 2026

HMEU.L (HSBC MSCI Europe UCITS ETF) and JRDE.L (JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist)) are both Europe Equities funds tracking the MSCI Europe NR EUR, from HSBC and JPMorgan respectively. Both are passively managed. Over the past 3 years, HMEU.L returned 14.73%/yr vs 13.08%/yr for JRDE.L. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.25% expense ratio.

Performance

HMEU.L vs. JRDE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI Europe UCITS ETF (HMEU.L) and JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist) (JRDE.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

The year-to-date returns for both stocks are quite close, with HMEU.L having a 6.73% return and JRDE.L slightly lower at 6.47%.

HMEU.L

1D
0.61%
1M
3.46%
YTD
6.73%
6M
8.70%
1Y
19.15%
3Y*
14.73%
5Y*
10.72%
10Y*
10.50%

JRDE.L

1D
0.48%
1M
3.35%
YTD
6.47%
6M
8.47%
1Y
18.99%
3Y*
13.08%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HMEU.L vs. JRDE.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021
HMEU.L
HSBC MSCI Europe UCITS ETF		6.73%25.88%6.23%13.28%-3.35%3.70%
JRDE.L
JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist)		6.47%25.66%2.21%14.40%-3.79%4.66%

Correlation

The correlation between HMEU.L and JRDE.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.98

Correlation (3Y)
Calculated over the trailing 3-year period

0.98

Correlation (All Time)
Calculated using the full available price history since Sep 23, 2021

0.97

The correlation between HMEU.L and JRDE.L has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

HMEU.L vs. JRDE.L - Sectors Allocation Comparison

Sectors
HMEU.L
JRDE.L

Financial Services

23.2%
23.7%

Industrials

19.8%
20.4%

Healthcare

13.1%
13.3%

Consumer Defensive

8.7%
7.3%

Technology

8.5%
8.7%

Consumer Cyclical

6.3%
6.6%

Basic Materials

5.6%
5.2%

Energy

5.3%
5.2%

Utilities

5.0%
6.0%

Communication Services

3.7%
3.6%

Real Estate

0.8%
0.1%

Financial Services

HMEU.L
23.2%
JRDE.L
23.7%

Industrials

HMEU.L
19.8%
JRDE.L
20.4%

Healthcare

HMEU.L
13.1%
JRDE.L
13.3%

Consumer Defensive

HMEU.L
8.7%
JRDE.L
7.3%

Technology

HMEU.L
8.5%
JRDE.L
8.7%

Consumer Cyclical

HMEU.L
6.3%
JRDE.L
6.6%

Basic Materials

HMEU.L
5.6%
JRDE.L
5.2%

Energy

HMEU.L
5.3%
JRDE.L
5.2%

Utilities

HMEU.L
5.0%
JRDE.L
6.0%

Communication Services

HMEU.L
3.7%
JRDE.L
3.6%

Real Estate

HMEU.L
0.8%
JRDE.L
0.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

HSBC MSCI Europe UCITS ETF

JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist)

Often compared with HMEU.L:
HMEU.L vs. MEUD.LHMEU.L vs. H50E.LHMEU.L vs. H4ZE.DEHMEU.L vs. VEUR.LHMEU.L vs. FLXD.LHMEU.L vs. HSPX.LHMEU.L vs. HMWD.L
Often compared with JRDE.L:
JRDE.L vs. JRDM.LJRDE.L vs. JRDG.LJRDE.L vs. CS1.LJRDE.L vs. EEI.LJRDE.L vs. V3EL.LJRDE.L vs. EUHD.LJRDE.L vs. EEIP.L

Return for Risk

HMEU.L vs. JRDE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HMEU.L
HMEU.L Risk / Return Rank: 4444
Overall Rank
HMEU.L Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
HMEU.L Sortino Ratio Rank: 4545
Sortino Ratio Rank
HMEU.L Omega Ratio Rank: 4848
Omega Ratio Rank
HMEU.L Calmar Ratio Rank: 3838
Calmar Ratio Rank
HMEU.L Martin Ratio Rank: 4242
Martin Ratio Rank
JRDE.L
JRDE.L Risk / Return Rank: 4141
Overall Rank
JRDE.L Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
JRDE.L Sortino Ratio Rank: 4343
Sortino Ratio Rank
JRDE.L Omega Ratio Rank: 4545
Omega Ratio Rank
JRDE.L Calmar Ratio Rank: 3535
Calmar Ratio Rank
JRDE.L Martin Ratio Rank: 3939
Martin Ratio Rank
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.

HMEU.L vs. JRDE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Europe UCITS ETF (HMEU.L) and JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist) (JRDE.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.

HMEU.LJRDE.LDifference
Sharpe ratioReturn per unit of total volatility
1.57
1.53

+0.04

Sortino ratioReturn per unit of downside risk
2.24
2.16

+0.08

Omega ratioGain probability vs. loss probability

1.30

1.28

+0.01

Calmar ratioReturn relative to maximum drawdown

1.83

1.73

+0.10

Martin ratioReturn relative to average drawdown

6.52

6.00

+0.52

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HMEU.L vs. JRDE.L - Sharpe Ratio Comparison

The current HMEU.L Sharpe Ratio is 1.57, which is comparable to the JRDE.L Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of HMEU.L and JRDE.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.

Loading charts...

Sharpe Ratios by Period

HMEU.LJRDE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.57

1.53

+0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.78

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.75

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.72

-0.07

Drawdowns

HMEU.L vs. JRDE.L - Drawdown Comparison

The maximum HMEU.L drawdown since its inception was -28.42%, which is greater than JRDE.L's maximum drawdown of -15.75%. Use the drawdown chart below to compare losses from any high point for HMEU.L and JRDE.L.

Loading charts...

Drawdown Indicators

HMEU.LJRDE.LDifference

Max Drawdown

Largest peak-to-trough decline

-28.42%

-15.75%

-12.67%

Max Drawdown (1Y)

Largest decline over 1 year

-10.42%

-10.94%

+0.52%

Max Drawdown (3Y)

Largest decline over 3 years

-12.77%

-12.84%

+0.07%

Max Drawdown (5Y)

Largest decline over 5 years

-15.46%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-28.42%

—

—

Current Drawdown

Current decline from peak

-1.26%

-2.07%

+0.81%

Average Drawdown

Average peak-to-trough decline

-4.79%

-3.73%

-1.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.93%

3.16%

-0.23%

Volatility

HMEU.L vs. JRDE.L - Volatility Comparison

HSBC MSCI Europe UCITS ETF (HMEU.L) and JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist) (JRDE.L) have volatilities of 3.84% and 3.98%, 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.

Loading charts...

Volatility by Period

HMEU.LJRDE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.84%

3.98%

-0.14%

Volatility (6M)

Calculated over the trailing 6-month period

10.19%

10.29%

-0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

12.17%

12.39%

-0.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.81%

14.16%

-0.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.47%

14.16%

+1.31%

HMEU.L vs. JRDE.L - Expense Ratio Comparison

Both HMEU.L and JRDE.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

HMEU.L vs. JRDE.L - Dividend Comparison

HMEU.L's dividend yield for the trailing twelve months is around 2.44%, more than JRDE.L's 2.19% yield.

PositionTTM20252024202320222021202020192018201720162015
HMEU.L
HSBC MSCI Europe UCITS ETF		2.44%2.55%5.65%2.80%2.85%2.16%2.13%3.10%3.29%2.77%2.82%5.28%
JRDE.L
JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist)		2.19%2.18%2.68%1.11%2.99%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.98, HMEU.L and JRDE.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.

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

HMEU.L and JRDE.L have the same expense ratio: 0.25% per year.

Both ETFs track MSCI Europe NR EUR. They also come from different issuers: HSBC and JPMorgan.

Portfolio Optimizer

Find the right allocation for HMEU.L and JRDE.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer