HPEM.L vs. ISDE.L

Last updated Jul 16, 2026

HPEM.L (Hsbc Etfs PLC - Hsbc Msci Emerging Markets Climate Paris Aligned Ucits Etf) and ISDE.L (iShares MSCI EM Islamic UCITS ETF USD (Dist)) are both Emerging Markets Equities funds - HPEM.L tracks the Hsbc Etfs PLC - Hsbc Msci Emerging Markets Climate Paris Aligned Ucits Etf while ISDE.L tracks the MSCI Emerging Markets Islamic Index. Both are passively managed. Over the past 3 years, HPEM.L returned 17.62%/yr vs 25.27%/yr for ISDE.L. Their correlation of 0.85 suggests significant overlap in exposure.

Performance

HPEM.L vs. ISDE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hsbc Etfs PLC - Hsbc Msci Emerging Markets Climate Paris Aligned Ucits Etf (HPEM.L) and iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HPEM.L achieves a 17.86% return, which is significantly lower than ISDE.L's 43.83% return.

HPEM.L

• 1D: 0.66%
• 1M: -5.69%
• 6M: 12.47%
• YTD: 17.86%
• 1Y: 35.57%
• 3Y*: 17.62%
• 5Y*: —
• 10Y*: —

ISDE.L

• 1D: -1.28%
• 1M: -11.07%
• 6M: 34.89%
• YTD: 43.83%
• 1Y: 74.17%
• 3Y*: 25.27%
• 5Y*: 10.84%
• 10Y*: 11.20%

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

HPEM.L vs. ISDE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HPEM.L Hsbc Etfs PLC - Hsbc Msci Emerging Markets Climate Paris Aligned Ucits Etf	17.86%	32.60%	6.21%	6.27%	-13.68%
ISDE.L iShares MSCI EM Islamic UCITS ETF USD (Dist)	43.83%	39.00%	-3.54%	14.04%	-14.70%

Correlation

The correlation between HPEM.L and ISDE.L is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Apr 8, 2022	0.85

The correlation between HPEM.L and ISDE.L has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

HPEM.L vs. ISDE.L — Risk / Return Rank

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

HPEM.L

HPEM.L Risk / Return Rank: 64
HPEM.L Sharpe Ratio Rank: 62
HPEM.L Sortino Ratio Rank: 58
HPEM.L Omega Ratio Rank: 62
HPEM.L Calmar Ratio Rank: 72
HPEM.L Martin Ratio Rank: 66

ISDE.L

ISDE.L Risk / Return Rank: 88
ISDE.L Sharpe Ratio Rank: 91
ISDE.L Sortino Ratio Rank: 82
ISDE.L Omega Ratio Rank: 88
ISDE.L Calmar Ratio Rank: 92
ISDE.L Martin Ratio Rank: 88

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.

HPEM.L vs. ISDE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hsbc Etfs PLC - Hsbc Msci Emerging Markets Climate Paris Aligned Ucits Etf (HPEM.L) and iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.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.

	HPEM.L	ISDE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.49	-0.83
Sortino ratio: Return per unit of downside risk	2.23	2.95	-0.71
Omega ratio: Gain probability vs. loss probability	1.30	1.44	-0.13
Calmar ratio: Return relative to maximum drawdown	2.95	4.75	-1.80
Martin ratio: Return relative to average drawdown	9.40	15.21	-5.81

HPEM.L vs. ISDE.L - Sharpe Ratio Comparison

The current HPEM.L Sharpe Ratio is 1.65, which is lower than the ISDE.L Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of HPEM.L and ISDE.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

HPEM.L vs. ISDE.L - Drawdown Comparison

The maximum HPEM.L drawdown since its inception was -22.86%, smaller than the maximum ISDE.L drawdown of -65.53%. Use the drawdown chart below to compare losses from any high point for HPEM.L and ISDE.L.

Drawdown Indicators

	HPEM.L	ISDE.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.86%	-65.53%	+42.67%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-15.54%	+3.11%
Max Drawdown (3Y) Largest decline over 3 years	-16.82%	-21.83%	+5.01%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.64%	—
Current Drawdown Current decline from peak	-7.81%	-15.25%	+7.44%
Average Drawdown Average peak-to-trough decline	-7.21%	-22.77%	+15.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.90%	4.86%	-0.96%

Volatility

HPEM.L vs. ISDE.L - Volatility Comparison

The current volatility for Hsbc Etfs PLC - Hsbc Msci Emerging Markets Climate Paris Aligned Ucits Etf (HPEM.L) is 9.19%, while iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L) has a volatility of 14.62%. This indicates that HPEM.L experiences smaller price fluctuations and is considered to be less risky than ISDE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HPEM.L	ISDE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.19%	14.62%	-5.43%
Volatility (6M) Calculated over the trailing 6-month period	19.87%	27.67%	-7.80%
Volatility (1Y) Calculated over the trailing 1-year period	22.17%	29.71%	-7.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	20.58%	-1.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	20.34%	-1.26%

Dividends

HPEM.L vs. ISDE.L - Dividend Comparison

HPEM.L has not paid dividends to shareholders, while ISDE.L's dividend yield for the trailing twelve months is around 1.20%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HPEM.L Hsbc Etfs PLC - Hsbc Msci Emerging Markets Climate Paris Aligned Ucits Etf	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ISDE.L iShares MSCI EM Islamic UCITS ETF USD (Dist)	1.20%	1.06%	2.51%	2.77%	2.10%	1.79%	0.98%	1.55%	1.64%	1.02%	1.07%	2.32%

Frequently Asked Questions

Can I hold both HPEM.L and ISDE.L in my portfolio?

HPEM.L and ISDE.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between HPEM.L and ISDE.L?

HPEM.L tracks Hsbc Etfs PLC - Hsbc Msci Emerging Markets Climate Paris Aligned Ucits Etf, while ISDE.L tracks MSCI Emerging Markets Islamic Index. They also come from different issuers: HSBC and iShares.