HMEU.L vs. JRGD.DE
HMEU.L (HSBC MSCI Europe UCITS ETF) and JRGD.DE (JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) are both exchange-traded funds - HMEU.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while JRGD.DE is a Global Equities fund tracking the JP Morgan Global Research Enhanced Index Equity (ESG). Both are passively managed. Over the past 3 years, HMEU.L returned 14.73%/yr vs 17.00%/yr for JRGD.DE. A 0.69 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.
Performance
HMEU.L vs. JRGD.DE - Performance Comparison
Loading charts...
Different Trading Currencies
HMEU.L is traded in GBp, while JRGD.DE is traded in EUR. To make them comparable, the JRGD.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, HMEU.L achieves a 6.73% return, which is significantly lower than JRGD.DE's 9.45% return.
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%
JRGD.DE
- 1D
- 0.12%
- 1M
- 3.29%
- YTD
- 9.45%
- 6M
- 9.46%
- 1Y
- 25.94%
- 3Y*
- 17.00%
- 5Y*
- —
- 10Y*
- —
HMEU.L vs. JRGD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HMEU.L HSBC MSCI Europe UCITS ETF | 6.73% | 25.88% | 6.23% | 13.28% | -3.35% | 3.70% |
JRGD.DE JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) | 9.45% | 12.22% | 19.91% | 18.83% | -8.31% | 8.36% |
Correlation
The correlation between HMEU.L and JRGD.DE is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021 | 0.69 |
The correlation between HMEU.L and JRGD.DE has been stable across timeframes, ranging from 0.65 to 0.70 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HMEU.L vs. JRGD.DE — Risk / Return Rank
HMEU.L
JRGD.DE
HMEU.L vs. JRGD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Europe UCITS ETF (HMEU.L) and JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRGD.DE). 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.L | JRGD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.46 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 3.94 | -2.11 |
| Martin ratioReturn relative to average drawdown | 6.52 | 16.03 | -9.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HMEU.L | JRGD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 2.47 | -0.91 |
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 | 0.89 | -0.24 |
Drawdowns
HMEU.L vs. JRGD.DE - Drawdown Comparison
The maximum HMEU.L drawdown since its inception was -28.42%, which is greater than JRGD.DE's maximum drawdown of -19.85%. Use the drawdown chart below to compare losses from any high point for HMEU.L and JRGD.DE.
Loading charts...
Drawdown Indicators
| HMEU.L | JRGD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.42% | -19.85% | -8.57% |
Max Drawdown (1Y)Largest decline over 1 year | -10.42% | -6.58% | -3.84% |
Max Drawdown (3Y)Largest decline over 3 years | -12.77% | -19.85% | +7.08% |
Max Drawdown (5Y)Largest decline over 5 years | -15.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.42% | — | — |
Current DrawdownCurrent decline from peak | -1.26% | -0.15% | -1.11% |
Average DrawdownAverage peak-to-trough decline | -4.79% | -3.24% | -1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 1.62% | +1.31% |
Volatility
HMEU.L vs. JRGD.DE - Volatility Comparison
HSBC MSCI Europe UCITS ETF (HMEU.L) has a higher volatility of 3.84% compared to JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRGD.DE) at 2.66%. This indicates that HMEU.L's price experiences larger fluctuations and is considered to be riskier than JRGD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HMEU.L | JRGD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.84% | 2.66% | +1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 10.19% | 7.36% | +2.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.17% | 10.48% | +1.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.81% | 13.93% | -0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.47% | 13.93% | +1.54% |
HMEU.L vs. JRGD.DE - Expense Ratio Comparison
Both HMEU.L and JRGD.DE 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. JRGD.DE - Dividend Comparison
HMEU.L's dividend yield for the trailing twelve months is around 2.44%, more than JRGD.DE's 0.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
JRGD.DE JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) | 0.89% | 0.89% | 0.91% | 0.85% | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HMEU.L and JRGD.DE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 JRGD.DE have the same expense ratio: 0.25% per year.
HMEU.L is categorized as Europe Equities, while JRGD.DE is Global Equities. HMEU.L tracks MSCI Europe NR EUR, while JRGD.DE tracks JP Morgan Global Research Enhanced Index Equity (ESG). They also come from different issuers: HSBC and JPMorgan.
Find the right allocation for HMEU.L and JRGD.DE
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