PRAM.L vs. HEMC.L
PRAM.L (Amundi Prime Emerging Markets UCITS ETF DR (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, PRAM.L returned 23.23%/yr vs 23.65%/yr for HEMC.L. A 0.71 correlation means they provide meaningful diversification when combined. PRAM.L charges 0.10%/yr vs 0.15%/yr for HEMC.L.
Performance
PRAM.L vs. HEMC.L - Performance Comparison
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Different Trading Currencies
PRAM.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, PRAM.L achieves a 24.27% return, which is significantly lower than HEMC.L's 26.01% return.
PRAM.L
- 1D
- -1.56%
- 1M
- 4.75%
- YTD
- 24.27%
- 6M
- 27.23%
- 1Y
- 49.84%
- 3Y*
- 23.23%
- 5Y*
- —
- 10Y*
- —
HEMC.L
- 1D
- -1.61%
- 1M
- 5.59%
- YTD
- 26.01%
- 6M
- 29.12%
- 1Y
- 52.79%
- 3Y*
- 23.65%
- 5Y*
- —
- 10Y*
- —
PRAM.L vs. HEMC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PRAM.L Amundi Prime Emerging Markets UCITS ETF DR (C) | 24.27% | 32.60% | 7.14% | 9.82% | -3.29% |
HEMC.L HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 26.01% | 34.15% | 7.08% | 7.76% | -2.59% |
Correlation
The correlation between PRAM.L and HEMC.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.71 |
Over the past year, PRAM.L and HEMC.L have become more correlated (0.96) than their long-term average of 0.71, meaning their price movements have been converging.
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Return for Risk
PRAM.L vs. HEMC.L — Risk / Return Rank
PRAM.L
HEMC.L
PRAM.L vs. HEMC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Prime Emerging Markets UCITS ETF DR (C) (PRAM.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.
| PRAM.L | HEMC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.50 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.96 | 4.09 | -0.13 |
| Martin ratioReturn relative to average drawdown | 14.36 | 15.01 | -0.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PRAM.L | HEMC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.57 | 2.79 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.99 | -0.24 |
Drawdowns
PRAM.L vs. HEMC.L - Drawdown Comparison
The maximum PRAM.L drawdown since its inception was -28.74%, 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 PRAM.L and HEMC.L.
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Drawdown Indicators
| PRAM.L | HEMC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.74% | -16.94% | -11.80% |
Max Drawdown (1Y)Largest decline over 1 year | -12.53% | -12.85% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -16.73% | -16.23% | -0.50% |
Current DrawdownCurrent decline from peak | -3.13% | -2.81% | -0.32% |
Average DrawdownAverage peak-to-trough decline | -8.60% | -4.54% | -4.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 3.51% | -0.05% |
Volatility
PRAM.L vs. HEMC.L - Volatility Comparison
Amundi Prime Emerging Markets UCITS ETF DR (C) (PRAM.L) and HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (HEMC.L) have volatilities of 8.38% and 8.19%, 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.
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Volatility by Period
| PRAM.L | HEMC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.38% | 8.19% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 16.56% | 16.14% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.30% | 18.84% | +0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.39% | 17.87% | +3.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.39% | 17.87% | +3.52% |
PRAM.L vs. HEMC.L - Expense Ratio Comparison
PRAM.L has a 0.10% expense ratio, which is lower than HEMC.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PRAM.L vs. HEMC.L - Dividend Comparison
Neither PRAM.L nor HEMC.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, PRAM.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, PRAM.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PRAM.L is cheaper with a 0.10% expense ratio, compared with 0.15% for HEMC.L.
Both ETFs track MSCI EM NR USD. They also come from different issuers: Amundi and HSBC. Their fees differ too: 0.10% for PRAM.L and 0.15% for HEMC.L.
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