IDFF.L vs. HMAD.L
IDFF.L (iShares MSCI AC Far East ex-Japan UCITS ETF) and HMAD.L (HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF) are both Japan Equities funds - IDFF.L tracks the iShares MSCI AC Far East ex-Japan UCITS ETF while HMAD.L tracks the HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF. Both are passively managed. Over the past 10 years, IDFF.L returned 9.66%/yr vs 9.94%/yr for HMAD.L. With a 0.98 correlation, they move nearly in lockstep. IDFF.L charges 0.74%/yr vs 0.45%/yr for HMAD.L.
Performance
IDFF.L vs. HMAD.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IDFF.L having a 26.95% return and HMAD.L slightly lower at 26.73%. Both investments have delivered pretty close results over the past 10 years, with IDFF.L having a 9.66% annualized return and HMAD.L not far ahead at 9.94%.
IDFF.L
- 1D
- -1.70%
- 1M
- -8.33%
- 6M
- 18.87%
- YTD
- 26.95%
- 1Y
- 48.14%
- 3Y*
- 24.00%
- 5Y*
- 7.12%
- 10Y*
- 9.66%
HMAD.L
- 1D
- -1.11%
- 1M
- -8.23%
- 6M
- 19.23%
- YTD
- 26.73%
- 1Y
- 48.95%
- 3Y*
- 24.40%
- 5Y*
- 7.36%
- 10Y*
- 9.94%
IDFF.L vs. HMAD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IDFF.L iShares MSCI AC Far East ex-Japan UCITS ETF | 26.95% | 39.49% | 12.16% | 1.47% | -21.79% | -9.20% | 25.91% | 17.27% | -15.18% | 41.70% |
HMAD.L HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF | 26.73% | 41.42% | 11.84% | 1.71% | -21.78% | -8.81% | 26.05% | 17.57% | -14.95% | 42.10% |
Correlation
The correlation between IDFF.L and HMAD.L is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2013 | 0.98 |
The correlation between IDFF.L and HMAD.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
IDFF.L vs. HMAD.L — Risk / Return Rank
IDFF.L
HMAD.L
IDFF.L vs. HMAD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI AC Far East ex-Japan UCITS ETF (IDFF.L) and HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD.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.
| IDFF.L | HMAD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 3.78 | +0.01 |
| Martin ratioReturn relative to average drawdown | 11.11 | 11.13 | -0.01 |
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Drawdowns
IDFF.L vs. HMAD.L - Drawdown Comparison
The maximum IDFF.L drawdown since its inception was -64.08%, which is greater than HMAD.L's maximum drawdown of -50.05%. Use the drawdown chart below to compare losses from any high point for IDFF.L and HMAD.L.
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Drawdown Indicators
| IDFF.L | HMAD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.08% | -50.05% | -14.03% |
Max Drawdown (1Y)Largest decline over 1 year | -12.63% | -12.83% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -19.77% | -19.56% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -43.71% | -43.66% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -50.09% | -50.05% | -0.04% |
Current DrawdownCurrent decline from peak | -10.89% | -10.65% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -18.18% | -16.49% | -1.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.32% | 4.37% | -0.05% |
Volatility
IDFF.L vs. HMAD.L - Volatility Comparison
iShares MSCI AC Far East ex-Japan UCITS ETF (IDFF.L) and HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD.L) have volatilities of 10.68% and 10.83%, 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
| IDFF.L | HMAD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.68% | 10.83% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 22.07% | 21.87% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.77% | 24.64% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.32% | 22.14% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.81% | 20.71% | +0.10% |
IDFF.L vs. HMAD.L - Expense Ratio Comparison
IDFF.L has a 0.74% expense ratio, which is higher than HMAD.L's 0.45% expense ratio.
Dividends
IDFF.L vs. HMAD.L - Dividend Comparison
IDFF.L's dividend yield for the trailing twelve months is around 1.10%, while HMAD.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMAD.L HSBC MSCI AC FAR EAST ex JAPAN 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% |
IDFF.L iShares MSCI AC Far East ex-Japan UCITS ETF | 1.10% | 1.46% | 1.85% | 1.85% | 2.07% | 1.39% | 1.13% | 1.67% | 2.04% | 1.50% | 1.92% | 2.29% |
Frequently Asked Questions
With a correlation of 0.99, IDFF.L and HMAD.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.
On fees, HMAD.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HMAD.L is cheaper with a 0.45% expense ratio, compared with 0.74% for IDFF.L.
IDFF.L tracks iShares MSCI AC Far East ex-Japan UCITS ETF, while HMAD.L tracks HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.74% for IDFF.L and 0.45% for HMAD.L.
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