LCUA.DE vs. H410.DE

Last updated Jun 5, 2026

LCUA.DE (Amundi MSCI Emerging Asia II UCITS ETF Acc) and H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) are both Asia Pacific Equities funds - LCUA.DE tracks the MSCI Emerging Markets Asia while H410.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 5 years, LCUA.DE returned 8.90%/yr vs 8.17%/yr for H410.DE. With a 0.97 correlation, they move nearly in lockstep. LCUA.DE charges 0.12%/yr vs 0.15%/yr for H410.DE.

Performance

LCUA.DE vs. H410.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi MSCI Emerging Asia II UCITS ETF Acc (LCUA.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LCUA.DE achieves a 31.85% return, which is significantly higher than H410.DE's 27.49% return.

LCUA.DE

• 1D: -1.97%
• 1M: 7.77%
• YTD: 31.85%
• 6M: 33.69%
• 1Y: 54.70%
• 3Y*: 22.72%
• 5Y*: 8.90%
• 10Y*: —

H410.DE

• 1D: -1.81%
• 1M: 3.71%
• YTD: 27.49%
• 6M: 27.95%
• 1Y: 49.05%
• 3Y*: 20.39%
• 5Y*: 8.17%
• 10Y*: 9.77%

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

LCUA.DE vs. H410.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LCUA.DE Amundi MSCI Emerging Asia II UCITS ETF Acc	31.85%	18.08%	18.51%	3.26%	-14.89%	1.98%	15.44%	22.39%	-10.90%
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD	27.49%	18.61%	13.89%	4.66%	-13.80%	3.98%	7.04%	21.02%	-10.19%

Correlation

The correlation between LCUA.DE and H410.DE is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 28, 2018	0.97

The correlation between LCUA.DE and H410.DE has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

LCUA.DE vs. H410.DE — Risk / Return Rank

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

LCUA.DE

LCUA.DE Risk / Return Rank: 83
LCUA.DE Sharpe Ratio Rank: 84
LCUA.DE Sortino Ratio Rank: 82
LCUA.DE Omega Ratio Rank: 83
LCUA.DE Calmar Ratio Rank: 84
LCUA.DE Martin Ratio Rank: 83

H410.DE

H410.DE Risk / Return Rank: 85
H410.DE Sharpe Ratio Rank: 86
H410.DE Sortino Ratio Rank: 85
H410.DE Omega Ratio Rank: 85
H410.DE Calmar Ratio Rank: 86
H410.DE Martin Ratio Rank: 84

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.

LCUA.DE vs. H410.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Emerging Asia II UCITS ETF Acc (LCUA.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE). 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.

	LCUA.DE	H410.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.72	2.82	-0.10
Sortino ratio: Return per unit of downside risk	3.59	3.76	-0.17
Omega ratio: Gain probability vs. loss probability	1.49	1.51	-0.02
Calmar ratio: Return relative to maximum drawdown	4.49	4.75	-0.26
Martin ratio: Return relative to average drawdown	16.33	17.19	-0.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCUA.DE vs. H410.DE - Sharpe Ratio Comparison

The current LCUA.DE Sharpe Ratio is 2.72, which is comparable to the H410.DE Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of LCUA.DE and H410.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LCUA.DE	H410.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.72	2.82	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.49	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.41	+0.07

Drawdowns

LCUA.DE vs. H410.DE - Drawdown Comparison

The maximum LCUA.DE drawdown since its inception was -33.18%, smaller than the maximum H410.DE drawdown of -36.25%. Use the drawdown chart below to compare losses from any high point for LCUA.DE and H410.DE.

Drawdown Indicators

	LCUA.DE	H410.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.18%	-36.25%	+3.07%
Max Drawdown (1Y) Largest decline over 1 year	-12.13%	-10.48%	-1.65%
Max Drawdown (3Y) Largest decline over 3 years	-21.07%	-18.96%	-2.11%
Max Drawdown (5Y) Largest decline over 5 years	-28.54%	-23.76%	-4.78%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.68%	—
Current Drawdown Current decline from peak	-2.86%	-2.80%	-0.06%
Average Drawdown Average peak-to-trough decline	-12.02%	-10.25%	-1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	2.90%	+0.44%

Volatility

LCUA.DE vs. H410.DE - Volatility Comparison

Amundi MSCI Emerging Asia II UCITS ETF Acc (LCUA.DE) has a higher volatility of 8.54% compared to HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) at 7.30%. This indicates that LCUA.DE's price experiences larger fluctuations and is considered to be riskier than H410.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCUA.DE	H410.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.54%	7.30%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	17.04%	14.96%	+2.08%
Volatility (1Y) Calculated over the trailing 1-year period	20.08%	17.70%	+2.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.48%	16.64%	+1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.46%	18.17%	+1.29%

LCUA.DE vs. H410.DE - Expense Ratio Comparison

LCUA.DE has a 0.12% expense ratio, which is lower than H410.DE's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LCUA.DE vs. H410.DE - Dividend Comparison

LCUA.DE has not paid dividends to shareholders, while H410.DE's dividend yield for the trailing twelve months is around 1.60%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD	1.60%	2.00%	2.40%	2.58%	3.11%	2.00%	1.69%	2.03%	2.20%	1.62%	1.71%	2.28%
LCUA.DE Amundi MSCI Emerging Asia II UCITS ETF Acc	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

Can I hold both LCUA.DE and H410.DE in my portfolio?

With a correlation of 0.97, LCUA.DE and H410.DE 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.

Which ETF is better, LCUA.DE or H410.DE?

On fees, LCUA.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LCUA.DE or H410.DE?

LCUA.DE is cheaper with a 0.12% expense ratio, compared with 0.15% for H410.DE.

What is the main difference between LCUA.DE and H410.DE?

LCUA.DE tracks MSCI Emerging Markets Asia, while H410.DE tracks MSCI Emerging Markets. They also come from different issuers: Amundi and HSBC. Their fees differ too: 0.12% for LCUA.DE and 0.15% for H410.DE.