ITM.L vs. HMCH.L
ITM.L (ITM Power) is a stock, while HMCH.L (HSBC MSCI China UCITS ETF) is China Equities fund tracking the MSCI China NR USD. Over the past 10 years, ITM.L returned 19.72%/yr vs 3.93%/yr for HMCH.L. At a 0.17 correlation, their price movements are largely independent.
Performance
ITM.L vs. HMCH.L - Performance Comparison
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Returns By Period
In the year-to-date period, ITM.L achieves a 70.47% return, which is significantly higher than HMCH.L's -8.90% return. Over the past 10 years, ITM.L has outperformed HMCH.L with an annualized return of 19.72%, while HMCH.L has yielded a comparatively lower 3.93% annualized return.
ITM.L
- 1D
- 3.01%
- 1M
- -19.12%
- 6M
- 63.38%
- YTD
- 70.47%
- 1Y
- 39.55%
- 3Y*
- 3.52%
- 5Y*
- -23.40%
- 10Y*
- 19.72%
- ALL TIME*
- -0.24%
HMCH.L
- 1D
- 3.31%
- 1M
- 1.79%
- 6M
- -12.07%
- YTD
- -8.90%
- 1Y
- -3.15%
- 3Y*
- 7.60%
- 5Y*
- -3.90%
- 10Y*
- 3.93%
- ALL TIME*
- 3.81%
ITM.L vs. HMCH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITM.L ITM Power | 70.47% | 74.51% | -39.90% | -35.18% | -76.74% | -23.64% | 626.11% | 204.91% | -39.02% | 69.61% |
HMCH.L HSBC MSCI China UCITS ETF | -8.90% | 22.87% | 20.73% | -16.33% | -13.40% | -21.05% | 24.97% | 17.80% | -14.28% | 40.24% |
Correlation
The correlation between ITM.L and HMCH.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2011 | 0.17 |
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Return for Risk
ITM.L vs. HMCH.L — Risk / Return Rank
ITM.L
HMCH.L
ITM.L vs. HMCH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ITM Power (ITM.L) and HSBC MSCI China UCITS ETF (HMCH.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.
| ITM.L | HMCH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.99 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.78 | -0.14 | +0.92 |
| Martin ratioReturn relative to average drawdown | 1.64 | -0.30 | +1.93 |
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Drawdowns
ITM.L vs. HMCH.L - Drawdown Comparison
The maximum ITM.L drawdown since its inception was -96.43%, which is greater than HMCH.L's maximum drawdown of -56.50%. Use the drawdown chart below to compare losses from any high point for ITM.L and HMCH.L.
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Drawdown Indicators
| ITM.L | HMCH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.43% | -56.50% | -39.93% |
Max Drawdown (1Y)Largest decline over 1 year | -50.72% | -21.91% | -28.81% |
Max Drawdown (3Y)Largest decline over 3 years | -74.01% | -24.67% | -49.34% |
Max Drawdown (5Y)Largest decline over 5 years | -95.08% | -46.09% | -48.99% |
Max Drawdown (10Y)Largest decline over 10 years | -96.43% | -56.50% | -39.93% |
Current DrawdownCurrent decline from peak | -85.19% | -33.87% | -51.32% |
Average DrawdownAverage peak-to-trough decline | -73.03% | -20.21% | -52.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.95% | 10.63% | +13.32% |
Volatility
ITM.L vs. HMCH.L - Volatility Comparison
ITM Power (ITM.L) has a higher volatility of 22.01% compared to HSBC MSCI China UCITS ETF (HMCH.L) at 6.84%. This indicates that ITM.L's price experiences larger fluctuations and is considered to be riskier than HMCH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITM.L | HMCH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.01% | 6.84% | +15.17% |
Volatility (6M)Calculated over the trailing 6-month period | 64.30% | 13.88% | +50.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.26% | 19.18% | +61.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.56% | 27.74% | +45.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 76.83% | 25.25% | +51.58% |
Dividends
ITM.L vs. HMCH.L - Dividend Comparison
ITM.L has not paid dividends to shareholders, while HMCH.L's dividend yield for the trailing twelve months is around 2.19%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMCH.L HSBC MSCI China UCITS ETF | 2.19% | 2.34% | 2.17% | 2.12% | 1.85% | 1.28% | 0.92% | 1.65% | 1.36% | 0.78% | 1.89% | 2.84% |
ITM.L ITM Power | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ITM.L and HMCH.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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