MSAU.L vs. HEMC.L
MSAU.L (Invesco MSCI Saudi Arabia UCITS ETF USD (Acc)) and HEMC.L (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - MSAU.L tracks the MSCI Saudi Arabia 20/35 Capped Index while HEMC.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 3 years, MSAU.L returned -0.20%/yr vs 19.69%/yr for HEMC.L. At a 0.36 correlation, their price movements are largely independent. MSAU.L charges 0.50%/yr vs 0.15%/yr for HEMC.L.
Performance
MSAU.L vs. HEMC.L - Performance Comparison
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Different Trading Currencies
MSAU.L is traded in USD, while HEMC.L is traded in GBP. To make them comparable, the HEMC.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, MSAU.L achieves a 4.38% return, which is significantly lower than HEMC.L's 17.69% return.
MSAU.L
- 1D
- 0.37%
- 1M
- -3.43%
- 6M
- -1.37%
- YTD
- 4.38%
- 1Y
- 3.87%
- 3Y*
- -0.20%
- 5Y*
- 2.36%
- 10Y*
- —
- ALL TIME*
- 4.56%
HEMC.L
- 1D
- 0.00%
- 1M
- -8.57%
- 6M
- 11.90%
- YTD
- 17.69%
- 1Y
- 32.52%
- 3Y*
- 19.69%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.13%
MSAU.L vs. HEMC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSAU.L Invesco MSCI Saudi Arabia UCITS ETF USD (Acc) | 4.38% | -5.73% | 0.20% | 10.06% | -7.16% |
HEMC.L HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 17.69% | 34.15% | 7.08% | 8.45% | -22.22% |
Correlation
The correlation between MSAU.L and HEMC.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2022 | 0.36 |
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Return for Risk
MSAU.L vs. HEMC.L — Risk / Return Rank
MSAU.L
HEMC.L
MSAU.L vs. HEMC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Saudi Arabia UCITS ETF USD (Acc) (MSAU.L) and HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.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.
| MSAU.L | HEMC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.29 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | 1.18 | -0.83 |
| Martin ratioReturn relative to average drawdown | 0.74 | 2.17 | -1.43 |
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Drawdowns
MSAU.L vs. HEMC.L - Drawdown Comparison
The maximum MSAU.L drawdown since its inception was -42.92%, which is greater than HEMC.L's maximum drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for MSAU.L and HEMC.L.
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Drawdown Indicators
| MSAU.L | HEMC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.92% | -32.92% | -10.00% |
Max Drawdown (1Y)Largest decline over 1 year | -10.90% | -27.53% | +16.63% |
Max Drawdown (3Y)Largest decline over 3 years | -16.03% | -27.53% | +11.50% |
Max Drawdown (5Y)Largest decline over 5 years | -29.84% | — | — |
Current DrawdownCurrent decline from peak | -18.32% | -10.23% | -8.09% |
Average DrawdownAverage peak-to-trough decline | -14.49% | -13.56% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.19% | 14.98% | -9.79% |
Volatility
MSAU.L vs. HEMC.L - Volatility Comparison
The current volatility for Invesco MSCI Saudi Arabia UCITS ETF USD (Acc) (MSAU.L) is 2.51%, while HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) has a volatility of 9.09%. This indicates that MSAU.L experiences smaller price fluctuations and is considered to be less risky than HEMC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSAU.L | HEMC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | 9.09% | -6.58% |
Volatility (6M)Calculated over the trailing 6-month period | 11.22% | 19.30% | -8.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.34% | 45.83% | -30.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.87% | 31.60% | -15.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.75% | 31.60% | -12.85% |
MSAU.L vs. HEMC.L - Expense Ratio Comparison
MSAU.L has a 0.50% expense ratio, which is higher than HEMC.L's 0.15% expense ratio.
Dividends
MSAU.L vs. HEMC.L - Dividend Comparison
Neither MSAU.L nor HEMC.L has paid dividends to shareholders.
Frequently Asked Questions
MSAU.L and HEMC.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEMC.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEMC.L is cheaper with a 0.15% expense ratio, compared with 0.50% for MSAU.L.
MSAU.L tracks MSCI Saudi Arabia 20/35 Capped Index, while HEMC.L tracks MSCI EM NR USD. They also come from different issuers: Invesco and HSBC. Their fees differ too: 0.50% for MSAU.L and 0.15% for HEMC.L.
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