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HMXD.L vs. HMXJ.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HMXD.L vs. HMXJ.L

Last updated Jun 5, 2026

HMXD.L (HSBC MSCI Pacific ex Japan UCITS ETF) and HMXJ.L (HSBC MSCI Pacific ex Japan UCITS ETF) are both Asia Pacific Equities funds from HSBC tracking the MSCI Pacific Ex Japan NR USD. Both are passively managed. Over the past 10 years, HMXD.L returned 7.96%/yr vs 7.67%/yr for HMXJ.L. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.40% expense ratio.

Performance

HMXD.L vs. HMXJ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC MSCI Pacific ex Japan UCITS ETF (HMXD.L) and HSBC MSCI Pacific ex Japan UCITS ETF (HMXJ.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with HMXD.L having a 8.48% return and HMXJ.L slightly higher at 8.64%. Both investments have delivered pretty close results over the past 10 years, with HMXD.L having a 7.96% annualized return and HMXJ.L not far behind at 7.67%.

HMXD.L

1D
-0.92%
1M
-0.51%
YTD
8.48%
6M
10.08%
1Y
16.27%
3Y*
13.45%
5Y*
4.91%
10Y*
7.96%

HMXJ.L

1D
-0.42%
1M
-0.30%
YTD
8.64%
6M
10.46%
1Y
16.45%
3Y*
13.48%
5Y*
4.96%
10Y*
7.67%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HMXD.L vs. HMXJ.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HMXD.L
HSBC MSCI Pacific ex Japan UCITS ETF		8.48%20.24%5.29%6.26%-4.99%2.80%6.72%20.07%-11.50%21.80%
HMXJ.L
HSBC MSCI Pacific ex Japan UCITS ETF		8.64%20.85%4.65%5.67%-5.91%4.45%6.37%18.46%-10.80%25.35%

Correlation

The correlation between HMXD.L and HMXJ.L is 0.89, 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

0.89

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

0.85

Correlation (5Y)
Calculated over the trailing 5-year period

0.77

Correlation (10Y)
Calculated over the trailing 10-year period

0.65

Correlation (All Time)
Calculated using the full available price history since Sep 14, 2010

0.60

Over the past year, HMXD.L and HMXJ.L have become more correlated (0.89) than their long-term average of 0.60, meaning their price movements have been converging.

HMXD.L vs. HMXJ.L - Sectors Allocation Comparison

Sectors
HMXD.L
HMXJ.L

Financial Services

44.3%
45.1%

Basic Materials

15.6%
16.1%

Industrials

8.8%
8.5%

Real Estate

7.8%
7.8%

Consumer Cyclical

6.0%
6.3%

Healthcare

3.6%
3.3%

Energy

3.3%
2.7%

Utilities

3.1%
3.5%

Consumer Defensive

2.9%
3.0%

Communication Services

2.7%
2.6%

Technology

1.0%
1.0%

Financial Services

HMXD.L
44.3%
HMXJ.L
45.1%

Basic Materials

HMXD.L
15.6%
HMXJ.L
16.1%

Industrials

HMXD.L
8.8%
HMXJ.L
8.5%

Real Estate

HMXD.L
7.8%
HMXJ.L
7.8%

Consumer Cyclical

HMXD.L
6.0%
HMXJ.L
6.3%

Healthcare

HMXD.L
3.6%
HMXJ.L
3.3%

Energy

HMXD.L
3.3%
HMXJ.L
2.7%

Utilities

HMXD.L
3.1%
HMXJ.L
3.5%

Consumer Defensive

HMXD.L
2.9%
HMXJ.L
3.0%

Communication Services

HMXD.L
2.7%
HMXJ.L
2.6%

Technology

HMXD.L
1.0%
HMXJ.L
1.0%

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HSBC MSCI Pacific ex Japan UCITS ETF

HSBC MSCI Pacific ex Japan UCITS ETF

Often compared with HMXD.L:
HMXD.L vs. VOOHMXD.L vs. XKS2.LHMXD.L vs. CP9G.LHMXD.L vs. KRWL.LHMXD.L vs. ASDV.LHMXD.L vs. FLRK.LHMXD.L vs. HMEF.L
Often compared with HMXJ.L:
HMXJ.L vs. VAPX.LHMXJ.L vs. ISF.LHMXJ.L vs. EMIM.LHMXJ.L vs. PAXJ.LHMXJ.L vs. AASG.LHMXJ.L vs. LDAG.LHMXJ.L vs. ASDV.L

Return for Risk

HMXD.L vs. HMXJ.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HMXD.L
HMXD.L Risk / Return Rank: 3737
Overall Rank
HMXD.L Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
HMXD.L Sortino Ratio Rank: 3838
Sortino Ratio Rank
HMXD.L Omega Ratio Rank: 3434
Omega Ratio Rank
HMXD.L Calmar Ratio Rank: 4141
Calmar Ratio Rank
HMXD.L Martin Ratio Rank: 3939
Martin Ratio Rank
HMXJ.L
HMXJ.L Risk / Return Rank: 4848
Overall Rank
HMXJ.L Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
HMXJ.L Sortino Ratio Rank: 5050
Sortino Ratio Rank
HMXJ.L Omega Ratio Rank: 4646
Omega Ratio Rank
HMXJ.L Calmar Ratio Rank: 5151
Calmar Ratio Rank
HMXJ.L Martin Ratio Rank: 4646
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.

HMXD.L vs. HMXJ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Pacific ex Japan UCITS ETF (HMXD.L) and HSBC MSCI Pacific ex Japan UCITS ETF (HMXJ.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.

HMXD.LHMXJ.LDifference
Sharpe ratioReturn per unit of total volatility
1.21
1.25

-0.04

Sortino ratioReturn per unit of downside risk
1.92
1.92

0.00

Omega ratioGain probability vs. loss probability

1.22

1.22

0.00

Calmar ratioReturn relative to maximum drawdown

1.96

1.88

+0.08

Martin ratioReturn relative to average drawdown

6.00

6.03

-0.03

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

HMXD.L vs. HMXJ.L - Sharpe Ratio Comparison

The current HMXD.L Sharpe Ratio is 1.21, which is comparable to the HMXJ.L Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of HMXD.L and HMXJ.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.

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Sharpe Ratios by Period

HMXD.LHMXJ.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.21

1.25

-0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.32

0.29

+0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

0.44

+0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.33

+0.10

Drawdowns

HMXD.L vs. HMXJ.L - Drawdown Comparison

The maximum HMXD.L drawdown since its inception was -38.10%, roughly equal to the maximum HMXJ.L drawdown of -38.50%. Use the drawdown chart below to compare losses from any high point for HMXD.L and HMXJ.L.

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Drawdown Indicators

HMXD.LHMXJ.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.10%

-38.50%

+0.40%

Max Drawdown (1Y)

Largest decline over 1 year

-8.59%

-8.70%

+0.11%

Max Drawdown (3Y)

Largest decline over 3 years

-18.93%

-18.96%

+0.03%

Max Drawdown (5Y)

Largest decline over 5 years

-24.73%

-25.49%

+0.76%

Max Drawdown (10Y)

Largest decline over 10 years

-38.10%

-38.50%

+0.40%

Current Drawdown

Current decline from peak

-3.35%

-3.17%

-0.18%

Average Drawdown

Average peak-to-trough decline

-7.91%

-8.39%

+0.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.76%

2.72%

+0.04%

Volatility

HMXD.L vs. HMXJ.L - Volatility Comparison

HSBC MSCI Pacific ex Japan UCITS ETF (HMXD.L) has a higher volatility of 4.66% compared to HSBC MSCI Pacific ex Japan UCITS ETF (HMXJ.L) at 4.24%. This indicates that HMXD.L's price experiences larger fluctuations and is considered to be riskier than HMXJ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HMXD.LHMXJ.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.66%

4.24%

+0.42%

Volatility (6M)

Calculated over the trailing 6-month period

10.99%

10.45%

+0.54%

Volatility (1Y)

Calculated over the trailing 1-year period

13.98%

13.14%

+0.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.97%

16.96%

+3.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.23%

17.98%

+4.25%

HMXD.L vs. HMXJ.L - Expense Ratio Comparison

Both HMXD.L and HMXJ.L have an expense ratio of 0.40%.

Dividends

HMXD.L vs. HMXJ.L - Dividend Comparison

HMXD.L's dividend yield for the trailing twelve months is around 3.05%, which matches HMXJ.L's 3.02% yield.

PositionTTM20252024202320222021202020192018201720162015
HMXD.L
HSBC MSCI Pacific ex Japan UCITS ETF		3.05%3.30%3.86%4.09%4.06%2.81%2.85%3.74%4.15%3.09%3.62%4.31%
HMXJ.L
HSBC MSCI Pacific ex Japan UCITS ETF		3.02%3.43%3.80%4.13%3.79%2.71%3.05%3.88%3.80%3.23%3.32%4.03%

Frequently Asked Questions

HMXD.L and HMXJ.L have a correlation of 0.89, 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 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

HMXD.L and HMXJ.L have the same expense ratio: 0.40% per year.

Both ETFs track MSCI Pacific Ex Japan NR USD.

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