MXUD.L vs. HMUS.L

Last updated Jun 5, 2026

MXUD.L (Invesco MSCI USA UCITS ETF Dist) and HMUS.L (HSBC MSCI USA UCITS ETF) are both Large Cap Blend Equities funds tracking the Russell 1000 TR USD, from Invesco and HSBC respectively. Both are passively managed. Over the past 5 years, MXUD.L returned 13.61%/yr vs 11.31%/yr for HMUS.L. Their correlation of 0.83 suggests significant overlap in exposure. MXUD.L charges 0.05%/yr vs 0.30%/yr for HMUS.L.

Performance

MXUD.L vs. HMUS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI USA UCITS ETF Dist (MXUD.L) and HSBC MSCI USA UCITS ETF (HMUS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MXUD.L is traded in USD, while HMUS.L is traded in GBp. To make them comparable, the HMUS.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MXUD.L achieves a 10.40% return, which is significantly higher than HMUS.L's 8.18% return.

MXUD.L

• 1D: 0.01%
• 1M: 4.69%
• YTD: 10.40%
• 6M: 11.09%
• 1Y: 27.70%
• 3Y*: 22.52%
• 5Y*: 13.61%
• 10Y*: —

HMUS.L

• 1D: 0.86%
• 1M: 4.92%
• YTD: 8.18%
• 6M: 9.42%
• 1Y: 20.92%
• 3Y*: 19.28%
• 5Y*: 11.31%
• 10Y*: 13.31%

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

MXUD.L vs. HMUS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MXUD.L Invesco MSCI USA UCITS ETF Dist	10.40%	17.43%	25.46%	27.86%	-19.91%	26.81%	18.82%	3.48%
HMUS.L HSBC MSCI USA UCITS ETF	8.18%	13.27%	23.77%	25.50%	-21.02%	26.29%	19.04%	4.75%

Correlation

The correlation between MXUD.L and HMUS.L is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Nov 18, 2019	0.83

The correlation between MXUD.L and HMUS.L has been stable across timeframes, ranging from 0.80 to 0.83 - a consistent structural relationship.

MXUD.L vs. HMUS.L - Sectors Allocation Comparison

Sectors	MXUD.L	HMUS.L
Technology	35.4%	38.7%
Financial Services	11.6%	11.2%
Communication Services	11.3%	10.6%
Consumer Cyclical	10.1%	9.0%
Healthcare	8.6%	9.3%
Industrials	8.6%	7.7%
Consumer Defensive	4.8%	4.7%
Energy	3.6%	3.8%
Utilities	2.3%	1.7%
Real Estate	1.9%	1.8%
Basic Materials	1.8%	1.6%

Return for Risk

MXUD.L vs. HMUS.L — Risk / Return Rank

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

MXUD.L

MXUD.L Risk / Return Rank: 73
MXUD.L Sharpe Ratio Rank: 74
MXUD.L Sortino Ratio Rank: 78
MXUD.L Omega Ratio Rank: 74
MXUD.L Calmar Ratio Rank: 67
MXUD.L Martin Ratio Rank: 75

HMUS.L

HMUS.L Risk / Return Rank: 68
HMUS.L Sharpe Ratio Rank: 68
HMUS.L Sortino Ratio Rank: 66
HMUS.L Omega Ratio Rank: 68
HMUS.L Calmar Ratio Rank: 70
HMUS.L Martin Ratio Rank: 70

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.

MXUD.L vs. HMUS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI USA UCITS ETF Dist (MXUD.L) and HSBC MSCI USA UCITS ETF (HMUS.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.

	MXUD.L	HMUS.L	Difference
Sharpe ratio: Return per unit of total volatility	2.37	1.93	+0.43
Sortino ratio: Return per unit of downside risk	3.43	2.91	+0.52
Omega ratio: Gain probability vs. loss probability	1.43	1.34	+0.09
Calmar ratio: Return relative to maximum drawdown	3.27	2.51	+0.76
Martin ratio: Return relative to average drawdown	14.10	11.52	+2.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXUD.L vs. HMUS.L - Sharpe Ratio Comparison

The current MXUD.L Sharpe Ratio is 2.37, which is comparable to the HMUS.L Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of MXUD.L and HMUS.L, 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

	MXUD.L	HMUS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	1.93	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.76	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.86	0.00

Drawdowns

MXUD.L vs. HMUS.L - Drawdown Comparison

The maximum MXUD.L drawdown since its inception was -34.70%, roughly equal to the maximum HMUS.L drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for MXUD.L and HMUS.L.

Drawdown Indicators

	MXUD.L	HMUS.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.70%	-33.72%	-0.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-8.79%	+0.36%
Max Drawdown (3Y) Largest decline over 3 years	-19.43%	-19.65%	+0.22%
Max Drawdown (5Y) Largest decline over 5 years	-25.22%	-26.80%	+1.58%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-0.44%	0.00%	-0.44%
Average Drawdown Average peak-to-trough decline	-5.78%	-4.12%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	1.88%	+0.08%

Volatility

MXUD.L vs. HMUS.L - Volatility Comparison

Invesco MSCI USA UCITS ETF Dist (MXUD.L) has a higher volatility of 3.28% compared to HSBC MSCI USA UCITS ETF (HMUS.L) at 2.22%. This indicates that MXUD.L's price experiences larger fluctuations and is considered to be riskier than HMUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXUD.L	HMUS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	2.22%	+1.06%
Volatility (6M) Calculated over the trailing 6-month period	8.54%	8.26%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	11.65%	11.43%	+0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.23%	16.57%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.46%	17.37%	+1.09%

MXUD.L vs. HMUS.L - Expense Ratio Comparison

MXUD.L has a 0.05% expense ratio, which is lower than HMUS.L's 0.30% expense ratio.

Dividends

MXUD.L vs. HMUS.L - Dividend Comparison

MXUD.L's dividend yield for the trailing twelve months is around 1.05%, more than HMUS.L's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HMUS.L HSBC MSCI USA UCITS ETF	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
MXUD.L Invesco MSCI USA UCITS ETF Dist	1.05%	1.14%	1.30%	1.47%	1.66%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MXUD.L and HMUS.L in my portfolio?

MXUD.L and HMUS.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MXUD.L or HMUS.L?

On fees, MXUD.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MXUD.L or HMUS.L?

MXUD.L is cheaper with a 0.05% expense ratio, compared with 0.30% for HMUS.L.

What is the main difference between MXUD.L and HMUS.L?

Both ETFs track Russell 1000 TR USD. They also come from different issuers: Invesco and HSBC. Their fees differ too: 0.05% for MXUD.L and 0.30% for HMUS.L.