HPEM.L vs. PRAM.L
HPEM.L (Hsbc Etfs PLC - Hsbc Msci Emerging Markets Climate Paris Aligned Ucits Etf) and PRAM.L (Amundi Prime Emerging Markets UCITS ETF DR (C)) are both Emerging Markets Equities funds - HPEM.L tracks the Hsbc Etfs PLC - Hsbc Msci Emerging Markets Climate Paris Aligned Ucits Etf while PRAM.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 3 years, HPEM.L returned 17.62%/yr vs 19.18%/yr for PRAM.L. With a 0.95 correlation, they move nearly in lockstep.
Performance
HPEM.L vs. PRAM.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HPEM.L having a 17.86% return and PRAM.L slightly higher at 18.34%.
HPEM.L
- 1D
- 0.66%
- 1M
- -5.69%
- 6M
- 12.47%
- YTD
- 17.86%
- 1Y
- 35.57%
- 3Y*
- 17.62%
- 5Y*
- —
- 10Y*
- —
PRAM.L
- 1D
- -0.38%
- 1M
- -6.24%
- 6M
- 12.84%
- YTD
- 18.34%
- 1Y
- 34.98%
- 3Y*
- 19.18%
- 5Y*
- —
- 10Y*
- —
HPEM.L vs. PRAM.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% |
PRAM.L Amundi Prime Emerging Markets UCITS ETF DR (C) | 18.34% | 32.60% | 7.09% | 9.87% | -11.26% |
Correlation
The correlation between HPEM.L and PRAM.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2022 | 0.95 |
The correlation between HPEM.L and PRAM.L has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
HPEM.L vs. PRAM.L — Risk / Return Rank
HPEM.L
PRAM.L
HPEM.L vs. PRAM.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 Amundi Prime Emerging Markets UCITS ETF DR (C) (PRAM.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 | PRAM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.30 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 2.78 | +0.16 |
| Martin ratioReturn relative to average drawdown | 9.40 | 8.74 | +0.66 |
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Drawdowns
HPEM.L vs. PRAM.L - Drawdown Comparison
The maximum HPEM.L drawdown since its inception was -22.86%, smaller than the maximum PRAM.L drawdown of -31.21%. Use the drawdown chart below to compare losses from any high point for HPEM.L and PRAM.L.
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Drawdown Indicators
| HPEM.L | PRAM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.86% | -31.21% | +8.35% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -12.51% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -16.82% | -16.74% | -0.08% |
Current DrawdownCurrent decline from peak | -7.81% | -8.27% | +0.46% |
Average DrawdownAverage peak-to-trough decline | -7.21% | -10.59% | +3.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.90% | 3.99% | -0.09% |
Volatility
HPEM.L vs. PRAM.L - Volatility Comparison
Hsbc Etfs PLC - Hsbc Msci Emerging Markets Climate Paris Aligned Ucits Etf (HPEM.L) and Amundi Prime Emerging Markets UCITS ETF DR (C) (PRAM.L) have volatilities of 9.19% and 8.85%, 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
| HPEM.L | PRAM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.19% | 8.85% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 19.87% | 19.40% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.17% | 21.48% | +0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.08% | 18.63% | +0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.08% | 18.63% | +0.45% |
Dividends
HPEM.L vs. PRAM.L - Dividend Comparison
Neither HPEM.L nor PRAM.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, HPEM.L and PRAM.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
HPEM.L tracks Hsbc Etfs PLC - Hsbc Msci Emerging Markets Climate Paris Aligned Ucits Etf, while PRAM.L tracks MSCI EM NR USD. They also come from different issuers: HSBC and Amundi.
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