HMUS.L vs. BBUD.L

Last updated Jul 18, 2026

HMUS.L (HSBC MSCI USA UCITS ETF) and BBUD.L (JPM BetaBuilders US Equity UCITS ETF - USD (dist)) are both Large Cap Blend Equities funds - HMUS.L tracks the Russell 1000 TR USD while BBUD.L tracks the Morningstar US Target Market Exposure Index. Both are passively managed. Over the past 5 years, HMUS.L returned 12.21%/yr vs 13.18%/yr for BBUD.L. Their correlation of 0.92 suggests significant overlap in exposure. HMUS.L charges 0.30%/yr vs 0.05%/yr for BBUD.L.

Performance

HMUS.L vs. BBUD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI USA UCITS ETF (HMUS.L) and JPM BetaBuilders US Equity UCITS ETF - USD (dist) (BBUD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HMUS.L is traded in GBp, while BBUD.L is traded in USD. To make them comparable, the BBUD.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, HMUS.L achieves a 9.57% return, which is significantly lower than BBUD.L's 10.61% return.

HMUS.L

• 1D: -1.08%
• 1M: -0.27%
• 6M: 7.05%
• YTD: 9.57%
• 1Y: 19.17%
• 3Y*: 17.24%
• 5Y*: 12.21%
• 10Y*: 13.77%

BBUD.L

• 1D: -0.25%
• 1M: -0.08%
• 6M: 8.87%
• YTD: 10.61%
• 1Y: 20.94%
• 3Y*: 19.10%
• 5Y*: 13.18%
• 10Y*: —

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

HMUS.L vs. BBUD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HMUS.L HSBC MSCI USA UCITS ETF	9.57%	6.08%	27.07%	20.52%	-10.72%	29.00%	16.61%	12.18%
BBUD.L JPM BetaBuilders US Equity UCITS ETF - USD (dist)	10.61%	9.05%	27.31%	21.26%	-10.43%	28.84%	16.63%	12.40%

Correlation

The correlation between HMUS.L and BBUD.L is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Apr 3, 2019	0.92

The correlation between HMUS.L and BBUD.L shifts across timeframes, from 0.82 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HMUS.L vs. BBUD.L — Risk / Return Rank

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

HMUS.L

HMUS.L Risk / Return Rank: 73
HMUS.L Sharpe Ratio Rank: 74
HMUS.L Sortino Ratio Rank: 73
HMUS.L Omega Ratio Rank: 73
HMUS.L Calmar Ratio Rank: 72
HMUS.L Martin Ratio Rank: 74

BBUD.L

BBUD.L Risk / Return Rank: 72
BBUD.L Sharpe Ratio Rank: 73
BBUD.L Sortino Ratio Rank: 76
BBUD.L Omega Ratio Rank: 71
BBUD.L Calmar Ratio Rank: 66
BBUD.L Martin Ratio Rank: 74

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.

HMUS.L vs. BBUD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI USA UCITS ETF (HMUS.L) and JPM BetaBuilders US Equity UCITS ETF - USD (dist) (BBUD.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HMUS.L	BBUD.L	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.73	+0.11
Sortino ratio: Return per unit of downside risk	2.56	2.42	+0.14
Omega ratio: Gain probability vs. loss probability	1.33	1.32	+0.02
Calmar ratio: Return relative to maximum drawdown	2.79	2.80	-0.01
Martin ratio: Return relative to average drawdown	10.38	9.09	+1.29

HMUS.L vs. BBUD.L - Sharpe Ratio Comparison

The current HMUS.L Sharpe Ratio is 1.84, which is comparable to the BBUD.L Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of HMUS.L and BBUD.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.

Drawdowns

HMUS.L vs. BBUD.L - Drawdown Comparison

The maximum HMUS.L drawdown since its inception was -37.05%, which is greater than BBUD.L's maximum drawdown of -26.30%. Use the drawdown chart below to compare losses from any high point for HMUS.L and BBUD.L.

Drawdown Indicators

	HMUS.L	BBUD.L	Difference
Max Drawdown Largest peak-to-trough decline	-37.05%	-26.30%	-10.75%
Max Drawdown (1Y) Largest decline over 1 year	-6.84%	-7.71%	+0.87%
Max Drawdown (3Y) Largest decline over 3 years	-21.56%	-21.32%	-0.24%
Max Drawdown (5Y) Largest decline over 5 years	-21.56%	-21.32%	-0.24%
Max Drawdown (10Y) Largest decline over 10 years	-25.78%	—	—
Current Drawdown Current decline from peak	-2.10%	-0.43%	-1.67%
Average Drawdown Average peak-to-trough decline	-6.59%	-3.72%	-2.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	2.38%	-0.54%

Volatility

HMUS.L vs. BBUD.L - Volatility Comparison

HSBC MSCI USA UCITS ETF (HMUS.L) and JPM BetaBuilders US Equity UCITS ETF - USD (dist) (BBUD.L) have volatilities of 3.36% and 3.21%, 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.

Volatility by Period

	HMUS.L	BBUD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.36%	3.21%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	7.36%	9.56%	-2.20%
Volatility (1Y) Calculated over the trailing 1-year period	10.43%	12.45%	-2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.48%	15.70%	-1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.54%	17.15%	-1.61%

HMUS.L vs. BBUD.L - Expense Ratio Comparison

HMUS.L has a 0.30% expense ratio, which is higher than BBUD.L's 0.05% expense ratio.

Dividends

HMUS.L vs. BBUD.L - Dividend Comparison

HMUS.L's dividend yield for the trailing twelve months is around 0.91%, less than BBUD.L's 1.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBUD.L JPM BetaBuilders US Equity UCITS ETF - USD (dist)	1.10%	1.10%	1.01%	1.29%	1.46%	0.95%	1.37%	0.74%	0.00%	0.00%	0.00%	0.00%
HMUS.L HSBC MSCI USA UCITS ETF	0.91%	0.99%	0.81%	0.99%	1.01%	0.76%	1.18%	0.65%	0.00%	0.67%	1.29%	1.38%

Frequently Asked Questions

Can I hold both HMUS.L and BBUD.L in my portfolio?

HMUS.L and BBUD.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HMUS.L or BBUD.L?

On fees, BBUD.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HMUS.L or BBUD.L?

BBUD.L is cheaper with a 0.05% expense ratio, compared with 0.30% for HMUS.L.

What is the main difference between HMUS.L and BBUD.L?

HMUS.L tracks Russell 1000 TR USD, while BBUD.L tracks Morningstar US Target Market Exposure Index. They also come from different issuers: HSBC and JPMorgan. Their fees differ too: 0.30% for HMUS.L and 0.05% for BBUD.L.