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HMUS.L vs. IUSA.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

HMUS.L vs. IUSA.L

Last updated Apr 2, 2026

Compare and contrast key facts about HSBC MSCI USA UCITS ETF (HMUS.L) and iShares S&P 500 UCITS Dist (IUSA.L).

HMUS.L and IUSA.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HMUS.L is a passively managed fund by HSBC that tracks the performance of the Russell 1000 TR USD. It was launched on Jun 1, 2010. IUSA.L is a passively managed fund by iShares that tracks the performance of the S&P 500 Index. It was launched on Mar 15, 2002. Both HMUS.L and IUSA.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HMUS.L vs. IUSA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI USA UCITS ETF (HMUS.L) and iShares S&P 500 UCITS Dist (IUSA.L). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023202220212020201920182017
HMUS.L
HSBC MSCI USA UCITS ETF		-2.49%6.31%27.07%20.52%-10.72%28.28%17.26%26.40%-0.28%10.68%
IUSA.L
iShares S&P 500 UCITS Dist		-3.01%9.70%27.73%20.24%-8.72%31.54%14.15%27.06%0.51%11.19%

Returns By Period

In the year-to-date period, HMUS.L achieves a -2.49% return, which is significantly higher than IUSA.L's -3.01% return. Over the past 10 years, HMUS.L has underperformed IUSA.L with an annualized return of 14.24%, while IUSA.L has yielded a comparatively higher 15.05% annualized return.

HMUS.L

1D
1.34%
1M
-4.35%
YTD
-2.49%
6M
0.70%
1Y
12.55%
3Y*
14.97%
5Y*
11.60%
10Y*
14.24%

IUSA.L

1D
1.50%
1M
-3.22%
YTD
-3.01%
6M
0.35%
1Y
15.17%
3Y*
16.16%
5Y*
13.02%
10Y*
15.05%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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 USA UCITS ETF

iShares S&P 500 UCITS Dist

Often compared with HMUS.L:
HMUS.L vs. IGDA.LHMUS.L vs. XDUS.LHMUS.L vs. HMUD.LHMUS.L vs. SPYHMUS.L vs. SPMOHMUS.L vs. VOOHMUS.L vs. HWWA.L
Often compared with IUSA.L:
IUSA.L vs. CSP1.LIUSA.L vs. VUAA.LIUSA.L vs. IAPD.ASIUSA.L vs. SPXP.LIUSA.L vs. SPX5.LIUSA.L vs. IVVIUSA.L vs. VOO

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

HMUS.L has a 0.30% expense ratio, which is higher than IUSA.L's 0.07% expense ratio.

HMUS.L
HSBC MSCI USA UCITS ETF
IUSA.L
iShares S&P 500 UCITS Dist

Return for Risk

HMUS.L vs. IUSA.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: 4141
Overall Rank
HMUS.L Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
HMUS.L Sortino Ratio Rank: 4141
Sortino Ratio Rank
HMUS.L Omega Ratio Rank: 4242
Omega Ratio Rank
HMUS.L Calmar Ratio Rank: 3838
Calmar Ratio Rank
HMUS.L Martin Ratio Rank: 4141
Martin Ratio Rank
IUSA.L
IUSA.L Risk / Return Rank: 6060
Overall Rank
IUSA.L Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
IUSA.L Sortino Ratio Rank: 5151
Sortino Ratio Rank
IUSA.L Omega Ratio Rank: 5353
Omega Ratio Rank
IUSA.L Calmar Ratio Rank: 7676
Calmar Ratio Rank
IUSA.L Martin Ratio Rank: 6969
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.

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

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI USA UCITS ETF (HMUS.L) and iShares S&P 500 UCITS Dist (IUSA.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.

HMUS.LIUSA.LDifference

Sharpe ratio

Return per unit of total volatility

0.83

0.98

-0.14

Sortino ratio

Return per unit of downside risk

1.24

1.42

-0.18

Omega ratio

Gain probability vs. loss probability

1.18

1.21

-0.03

Calmar ratio

Return relative to maximum drawdown

1.05

2.14

-1.09

Martin ratio

Return relative to average drawdown

4.25

7.38

-3.13

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

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

The current HMUS.L Sharpe Ratio is 0.83, which is comparable to the IUSA.L Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of HMUS.L and IUSA.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

HMUS.LIUSA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.83

0.98

-0.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.85

0.90

-0.06

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.99

0.96

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.97

0.55

+0.42

Correlation

The correlation between HMUS.L and IUSA.L is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HMUS.L vs. IUSA.L - Dividend Comparison

HMUS.L's dividend yield for the trailing twelve months is around 0.80%, less than IUSA.L's 1.31% yield.

TTM20252024202320222021202020192018201720162015
HMUS.L
HSBC MSCI USA UCITS ETF		0.80%0.98%0.81%0.99%1.01%0.76%1.17%1.27%1.38%1.33%1.29%1.38%
IUSA.L
iShares S&P 500 UCITS Dist		1.31%1.24%1.28%1.55%1.74%1.39%1.80%1.96%2.22%1.95%1.75%2.29%

Drawdowns

HMUS.L vs. IUSA.L - Drawdown Comparison

The maximum HMUS.L drawdown since its inception was -25.78%, smaller than the maximum IUSA.L drawdown of -38.58%. Use the drawdown chart below to compare losses from any high point for HMUS.L and IUSA.L.

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Drawdown Indicators

HMUS.LIUSA.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.78%

-38.58%

+12.80%

Max Drawdown (1Y)

Largest decline over 1 year

-10.82%

-10.73%

-0.09%

Max Drawdown (5Y)

Largest decline over 5 years

-21.56%

-21.08%

-0.48%

Max Drawdown (10Y)

Largest decline over 10 years

-25.78%

-25.42%

-0.36%

Current Drawdown

Current decline from peak

-4.78%

-4.66%

-0.12%

Average Drawdown

Average peak-to-trough decline

-3.45%

-7.33%

+3.88%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

2.03%

+1.10%

Volatility

HMUS.L vs. IUSA.L - Volatility Comparison

HSBC MSCI USA UCITS ETF (HMUS.L) and iShares S&P 500 UCITS Dist (IUSA.L) have volatilities of 3.66% and 3.74%, 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.

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Volatility by Period

HMUS.LIUSA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.66%

3.74%

-0.08%

Volatility (6M)

Calculated over the trailing 6-month period

8.03%

8.23%

-0.20%

Volatility (1Y)

Calculated over the trailing 1-year period

15.57%

15.54%

+0.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.23%

14.40%

+0.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.78%

15.63%

+1.15%