NDIA.L vs. HEMC.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI India UCITS ETF USD Acc (NDIA.L) and HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L).

NDIA.L and HEMC.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NDIA.L is a passively managed fund by iShares that tracks the performance of the MSCI India Net Total Return Index. It was launched on May 25, 2018. HEMC.L is a passively managed fund by HSBC that tracks the performance of the MSCI EM NR USD. It was launched on Jun 28, 2022. Both NDIA.L and HEMC.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

NDIA.L vs. HEMC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI India UCITS ETF USD Acc (NDIA.L) and HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L). The values are adjusted to include any dividend payments, if applicable.

NDIA.L vs. HEMC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NDIA.L iShares MSCI India UCITS ETF USD Acc	-16.15%	4.23%	9.32%	18.74%	10.05%
HEMC.L HSBC MSCI Emerging Markets UCITS ETF USD (Acc)	4.98%	34.15%	7.08%	7.76%	-2.59%

Different Trading Currencies

NDIA.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, NDIA.L achieves a -16.15% return, which is significantly lower than HEMC.L's 4.98% return.

NDIA.L

• 1D: 1.95%
• 1M: -10.50%
• YTD: -16.15%
• 6M: -13.19%
• 1Y: -9.49%
• 3Y*: 6.93%
• 5Y*: 4.27%
• 10Y*: —

HEMC.L

• 1D: 3.88%
• 1M: -6.34%
• YTD: 4.98%
• 6M: 8.87%
• 1Y: 34.47%
• 3Y*: 16.33%
• 5Y*: —
• 10Y*: —

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

NDIA.L vs. HEMC.L - Expense Ratio Comparison

NDIA.L has a 0.65% expense ratio, which is higher than HEMC.L's 0.15% expense ratio.

NDIA.L

iShares MSCI India UCITS ETF USD Acc

HEMC.L

HSBC MSCI Emerging Markets UCITS ETF USD (Acc)

Return for Risk

NDIA.L vs. HEMC.L — Risk / Return Rank

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

NDIA.L

NDIA.L Risk / Return Rank: 3
NDIA.L Sharpe Ratio Rank: 4
NDIA.L Sortino Ratio Rank: 3
NDIA.L Omega Ratio Rank: 4
NDIA.L Calmar Ratio Rank: 4
NDIA.L Martin Ratio Rank: 1

HEMC.L

HEMC.L Risk / Return Rank: 85
HEMC.L Sharpe Ratio Rank: 86
HEMC.L Sortino Ratio Rank: 85
HEMC.L Omega Ratio Rank: 84
HEMC.L Calmar Ratio Rank: 86
HEMC.L Martin Ratio Rank: 82

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.

NDIA.L vs. HEMC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India UCITS ETF USD Acc (NDIA.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.

	NDIA.L	HEMC.L	Difference
Sharpe ratio Return per unit of total volatility	-0.54	1.82	-2.36
Sortino ratio Return per unit of downside risk	-0.67	2.36	-3.03
Omega ratio Gain probability vs. loss probability	0.92	1.34	-0.42
Calmar ratio Return relative to maximum drawdown	-0.49	2.67	-3.16
Martin ratio Return relative to average drawdown	-1.63	9.92	-11.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NDIA.L vs. HEMC.L - Sharpe Ratio Comparison

The current NDIA.L Sharpe Ratio is -0.54, which is lower than the HEMC.L Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of NDIA.L and HEMC.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

	NDIA.L	HEMC.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.54	1.82	-2.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.75	-0.46

Correlation

The correlation between NDIA.L and HEMC.L is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

NDIA.L vs. HEMC.L - Dividend Comparison

Neither NDIA.L nor HEMC.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

NDIA.L vs. HEMC.L - Drawdown Comparison

The maximum NDIA.L drawdown since its inception was -42.98%, which is greater than HEMC.L's maximum drawdown of -16.94%. Use the drawdown chart below to compare losses from any high point for NDIA.L and HEMC.L.

Drawdown Indicators

	NDIA.L	HEMC.L	Difference
Max Drawdown Largest peak-to-trough decline	-42.98%	-15.14%	-27.84%
Max Drawdown (1Y) Largest decline over 1 year	-21.06%	-10.83%	-10.23%
Max Drawdown (5Y) Largest decline over 5 years	-25.48%	—	—
Current Drawdown Current decline from peak	-23.47%	-7.53%	-15.94%
Average Drawdown Average peak-to-trough decline	-8.56%	-4.36%	-4.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.38%	3.10%	+3.28%

Volatility

NDIA.L vs. HEMC.L - Volatility Comparison

The current volatility for iShares MSCI India UCITS ETF USD Acc (NDIA.L) is 6.92%, while HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) has a volatility of 7.92%. This indicates that NDIA.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.

Volatility by Period

	NDIA.L	HEMC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.92%	7.92%	-1.00%
Volatility (6M) Calculated over the trailing 6-month period	11.97%	13.78%	-1.81%
Volatility (1Y) Calculated over the trailing 1-year period	17.42%	18.86%	-1.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.01%	17.35%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.10%	17.35%	+4.75%