MSRG.L vs. HEMC.L
MSRG.L (Amundi Index MSCI Emerging Markets SRI PAB UCITS DR ETF (C)) and HEMC.L (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) are both Emerging Markets Equities funds tracking the MSCI EM NR USD, from Amundi and HSBC respectively. Both are passively managed. Over the past 3 years, MSRG.L returned 13.66%/yr vs 21.14%/yr for HEMC.L. Their correlation of 0.93 suggests significant overlap in exposure. MSRG.L charges 0.25%/yr vs 0.15%/yr for HEMC.L.
Performance
MSRG.L vs. HEMC.L - Performance Comparison
Loading charts...
Different Trading Currencies
MSRG.L is traded in GBp, while HEMC.L is traded in GBP. To make them comparable, the HEMC.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, MSRG.L achieves a 18.41% return, which is significantly lower than HEMC.L's 28.45% return.
MSRG.L
- 1D
- 0.42%
- 1M
- 6.48%
- YTD
- 18.41%
- 6M
- 19.51%
- 1Y
- 39.46%
- 3Y*
- 13.66%
- 5Y*
- 4.59%
- 10Y*
- —
HEMC.L
- 1D
- -0.87%
- 1M
- 10.77%
- YTD
- 28.45%
- 6M
- 30.48%
- 1Y
- 58.36%
- 3Y*
- 21.14%
- 5Y*
- —
- 10Y*
- —
MSRG.L vs. HEMC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSRG.L Amundi Index MSCI Emerging Markets SRI PAB UCITS DR ETF (C) | 18.41% | 19.09% | 6.13% | -4.72% | -3.07% |
HEMC.L HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 28.45% | 24.74% | 8.89% | 2.36% | -2.34% |
Correlation
The correlation between MSRG.L and HEMC.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.93 |
The correlation between MSRG.L and HEMC.L has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MSRG.L vs. HEMC.L — Risk / Return Rank
MSRG.L
HEMC.L
MSRG.L vs. HEMC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Index MSCI Emerging Markets SRI PAB UCITS DR ETF (C) (MSRG.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.
| MSRG.L | HEMC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.64 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 4.10 | 5.36 | -1.26 |
| Martin ratioReturn relative to average drawdown | 13.13 | 18.90 | -5.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MSRG.L | HEMC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.66 | 3.45 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.99 | -0.65 |
Drawdowns
MSRG.L vs. HEMC.L - Drawdown Comparison
The maximum MSRG.L drawdown since its inception was -30.52%, which is greater than HEMC.L's maximum drawdown of -15.14%. Use the drawdown chart below to compare losses from any high point for MSRG.L and HEMC.L.
Loading charts...
Drawdown Indicators
| MSRG.L | HEMC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.52% | -15.14% | -15.38% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -10.83% | +0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -18.35% | -15.14% | -3.21% |
Max Drawdown (5Y)Largest decline over 5 years | -26.21% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.87% | +0.87% |
Average DrawdownAverage peak-to-trough decline | -12.32% | -4.25% | -8.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 3.08% | +0.04% |
Volatility
MSRG.L vs. HEMC.L - Volatility Comparison
The current volatility for Amundi Index MSCI Emerging Markets SRI PAB UCITS DR ETF (C) (MSRG.L) is 5.76%, while HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) has a volatility of 7.38%. This indicates that MSRG.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.
Loading charts...
Volatility by Period
| MSRG.L | HEMC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.76% | 7.38% | -1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 12.55% | 14.32% | -1.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.39% | 16.84% | -1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.27% | 15.42% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.98% | 15.42% | +3.56% |
MSRG.L vs. HEMC.L - Expense Ratio Comparison
MSRG.L has a 0.25% expense ratio, which is higher than HEMC.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MSRG.L vs. HEMC.L - Dividend Comparison
Neither MSRG.L nor HEMC.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, MSRG.L and HEMC.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, 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 0.25% for MSRG.L.
Both ETFs track MSCI EM NR USD. They also come from different issuers: Amundi and HSBC. Their fees differ too: 0.25% for MSRG.L and 0.15% for HEMC.L.
Find the right allocation for MSRG.L and HEMC.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer