LTAM.L vs. HMEF.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.L) and HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.L).

LTAM.L and HMEF.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LTAM.L is a passively managed fund by iShares that tracks the performance of the MSCI EM Latin America NR USD. It was launched on Oct 15, 2007. HMEF.L is a passively managed fund by HSBC that tracks the performance of the MSCI EM NR USD. It was launched on Sep 5, 2011. Both LTAM.L and HMEF.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

LTAM.L vs. HMEF.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.L) and HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.L). The values are adjusted to include any dividend payments, if applicable.

LTAM.L vs. HMEF.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LTAM.L iShares MSCI EM Latin America UCITS ETF USD (Dist)	18.37%	43.14%	-25.65%	26.15%	20.89%	-8.55%	-14.15%	9.57%	-0.50%	11.40%
HMEF.L HSBC MSCI Emerging Markets UCITS ETF USD	6.17%	24.55%	9.08%	2.44%	-10.01%	-2.27%	14.81%	12.74%	-9.63%	25.68%

Returns By Period

In the year-to-date period, LTAM.L achieves a 18.37% return, which is significantly higher than HMEF.L's 6.17% return. Both investments have delivered pretty close results over the past 10 years, with LTAM.L having a 8.69% annualized return and HMEF.L not far ahead at 8.82%.

LTAM.L

• 1D: 1.92%
• 1M: -0.54%
• YTD: 18.37%
• 6M: 28.89%
• 1Y: 52.98%
• 3Y*: 15.92%
• 5Y*: 14.12%
• 10Y*: 8.69%

HMEF.L

• 1D: 3.24%
• 1M: -5.62%
• YTD: 6.17%
• 6M: 10.21%
• 1Y: 30.69%
• 3Y*: 13.43%
• 5Y*: 4.84%
• 10Y*: 8.82%

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

LTAM.L vs. HMEF.L - Expense Ratio Comparison

LTAM.L has a 0.74% expense ratio, which is higher than HMEF.L's 0.15% expense ratio.

LTAM.L

iShares MSCI EM Latin America UCITS ETF USD (Dist)

HMEF.L

HSBC MSCI Emerging Markets UCITS ETF USD

Return for Risk

LTAM.L vs. HMEF.L — Risk / Return Rank

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

LTAM.L

LTAM.L Risk / Return Rank: 96
LTAM.L Sharpe Ratio Rank: 97
LTAM.L Sortino Ratio Rank: 96
LTAM.L Omega Ratio Rank: 95
LTAM.L Calmar Ratio Rank: 97
LTAM.L Martin Ratio Rank: 96

HMEF.L

HMEF.L Risk / Return Rank: 85
HMEF.L Sharpe Ratio Rank: 86
HMEF.L Sortino Ratio Rank: 86
HMEF.L Omega Ratio Rank: 84
HMEF.L Calmar Ratio Rank: 86
HMEF.L Martin Ratio Rank: 83

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.

LTAM.L vs. HMEF.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.L) and HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.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.

	LTAM.L	HMEF.L	Difference
Sharpe ratio Return per unit of total volatility	2.77	1.83	+0.94
Sortino ratio Return per unit of downside risk	3.45	2.37	+1.08
Omega ratio Gain probability vs. loss probability	1.48	1.35	+0.13
Calmar ratio Return relative to maximum drawdown	5.27	2.84	+2.43
Martin ratio Return relative to average drawdown	17.62	10.08	+7.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LTAM.L vs. HMEF.L - Sharpe Ratio Comparison

The current LTAM.L Sharpe Ratio is 2.77, which is higher than the HMEF.L Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of LTAM.L and HMEF.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LTAM.L	HMEF.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.77	1.83	+0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.31	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.50	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.33	-0.19

Correlation

The correlation between LTAM.L and HMEF.L is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

LTAM.L vs. HMEF.L - Dividend Comparison

LTAM.L's dividend yield for the trailing twelve months is around 3.05%, more than HMEF.L's 1.97% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LTAM.L iShares MSCI EM Latin America UCITS ETF USD (Dist)	3.05%	3.61%	5.69%	4.33%	6.86%	3.17%	1.82%	2.38%	2.11%	1.52%	1.32%	2.89%
HMEF.L HSBC MSCI Emerging Markets UCITS ETF USD	1.97%	1.98%	2.43%	2.58%	2.99%	2.01%	1.66%	2.11%	2.14%	1.61%	1.69%	2.25%

Drawdowns

LTAM.L vs. HMEF.L - Drawdown Comparison

The maximum LTAM.L drawdown since its inception was -58.30%, which is greater than HMEF.L's maximum drawdown of -31.72%. Use the drawdown chart below to compare losses from any high point for LTAM.L and HMEF.L.

Drawdown Indicators

	LTAM.L	HMEF.L	Difference
Max Drawdown Largest peak-to-trough decline	-58.30%	-31.72%	-26.58%
Max Drawdown (1Y) Largest decline over 1 year	-10.26%	-11.07%	+0.81%
Max Drawdown (5Y) Largest decline over 5 years	-26.09%	-23.78%	-2.31%
Max Drawdown (10Y) Largest decline over 10 years	-48.10%	-27.33%	-20.77%
Current Drawdown Current decline from peak	-2.52%	-7.68%	+5.16%
Average Drawdown Average peak-to-trough decline	-20.01%	-10.09%	-9.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	3.12%	-0.05%

Volatility

LTAM.L vs. HMEF.L - Volatility Comparison

iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.L) and HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.L) have volatilities of 7.41% and 7.28%, 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.

Volatility by Period

	LTAM.L	HMEF.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.41%	7.28%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	14.52%	12.74%	+1.78%
Volatility (1Y) Calculated over the trailing 1-year period	19.07%	16.71%	+2.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.41%	15.80%	+4.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.13%	17.71%	+7.42%