SUES.L vs. HMEF.L

Last updated Jun 5, 2026

SUES.L (iShares MSCI EM SRI UCITS ETF) and HMEF.L (HSBC MSCI Emerging Markets UCITS ETF USD) are both Emerging Markets Equities funds tracking the MSCI EM NR USD, from iShares and HSBC respectively. Both are passively managed. Over the past 5 years, SUES.L returned 5.18%/yr vs 5.72%/yr for HMEF.L. Their correlation of 0.94 suggests significant overlap in exposure. SUES.L charges 0.25%/yr vs 0.15%/yr for HMEF.L.

Performance

SUES.L vs. HMEF.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI EM SRI UCITS ETF (SUES.L) and HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SUES.L achieves a 16.30% return, which is significantly lower than HMEF.L's 25.52% return.

SUES.L

• 1D: -1.52%
• 1M: 3.02%
• YTD: 16.30%
• 6M: 18.19%
• 1Y: 39.85%
• 3Y*: 14.44%
• 5Y*: 5.18%
• 10Y*: —

HMEF.L

• 1D: -1.66%
• 1M: 3.69%
• YTD: 25.52%
• 6M: 26.00%
• 1Y: 50.01%
• 3Y*: 17.76%
• 5Y*: 5.72%
• 10Y*: 8.47%

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

SUES.L vs. HMEF.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SUES.L iShares MSCI EM SRI UCITS ETF	16.30%	22.98%	6.49%	-4.42%	-8.54%	0.22%	14.91%	11.22%	-4.94%	22.48%
HMEF.L HSBC MSCI Emerging Markets UCITS ETF USD	25.52%	21.88%	6.43%	-0.16%	-12.59%	-4.10%	12.68%	10.34%	-11.43%	23.56%

Correlation

The correlation between SUES.L and HMEF.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 (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jul 13, 2016	0.94

The correlation between SUES.L and HMEF.L has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

SUES.L vs. HMEF.L - Sectors Allocation Comparison

Sectors	SUES.L	HMEF.L
Technology	42.5%	42.9%
Financial Services	20.2%	17.8%
Consumer Cyclical	9.9%	8.7%
Communication Services	7.7%	6.2%
Basic Materials	5.8%	5.9%
Industrials	5.2%	6.8%
Healthcare	3.2%	2.6%
Consumer Defensive	2.9%	2.7%
Real Estate	1.5%	1.0%
Utilities	1.2%	1.9%
Energy	-	3.5%

Return for Risk

SUES.L vs. HMEF.L — Risk / Return Rank

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

SUES.L

SUES.L Risk / Return Rank: 76
SUES.L Sharpe Ratio Rank: 79
SUES.L Sortino Ratio Rank: 76
SUES.L Omega Ratio Rank: 76
SUES.L Calmar Ratio Rank: 76
SUES.L Martin Ratio Rank: 73

HMEF.L

HMEF.L Risk / Return Rank: 86
HMEF.L Sharpe Ratio Rank: 89
HMEF.L Sortino Ratio Rank: 87
HMEF.L Omega Ratio Rank: 89
HMEF.L Calmar Ratio Rank: 85
HMEF.L Martin Ratio Rank: 81

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.

SUES.L vs. HMEF.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM SRI UCITS ETF (SUES.L) and HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.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.

	SUES.L	HMEF.L	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.99	-0.48
Sortino ratio: Return per unit of downside risk	3.37	3.88	-0.51
Omega ratio: Gain probability vs. loss probability	1.44	1.55	-0.11
Calmar ratio: Return relative to maximum drawdown	3.79	4.60	-0.82
Martin ratio: Return relative to average drawdown	13.42	15.90	-2.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SUES.L vs. HMEF.L - Sharpe Ratio Comparison

The current SUES.L Sharpe Ratio is 2.51, which is comparable to the HMEF.L Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of SUES.L and HMEF.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

	SUES.L	HMEF.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	2.99	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.35	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.27	+0.16

Drawdowns

SUES.L vs. HMEF.L - Drawdown Comparison

The maximum SUES.L drawdown since its inception was -30.11%, smaller than the maximum HMEF.L drawdown of -32.91%. Use the drawdown chart below to compare losses from any high point for SUES.L and HMEF.L.

Drawdown Indicators

	SUES.L	HMEF.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.11%	-32.91%	+2.80%
Max Drawdown (1Y) Largest decline over 1 year	-10.48%	-11.07%	+0.59%
Max Drawdown (3Y) Largest decline over 3 years	-17.77%	-15.40%	-2.37%
Max Drawdown (5Y) Largest decline over 5 years	-24.78%	-26.99%	+2.21%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.58%	—
Current Drawdown Current decline from peak	-2.59%	-2.56%	-0.03%
Average Drawdown Average peak-to-trough decline	-9.15%	-12.28%	+3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	3.21%	-0.25%

Volatility

SUES.L vs. HMEF.L - Volatility Comparison

The current volatility for iShares MSCI EM SRI UCITS ETF (SUES.L) is 5.89%, while HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.L) has a volatility of 7.42%. This indicates that SUES.L experiences smaller price fluctuations and is considered to be less risky than HMEF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SUES.L	HMEF.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.89%	7.42%	-1.53%
Volatility (6M) Calculated over the trailing 6-month period	12.99%	14.61%	-1.62%
Volatility (1Y) Calculated over the trailing 1-year period	15.81%	17.04%	-1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.41%	16.23%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.94%	17.92%	+0.02%

SUES.L vs. HMEF.L - Expense Ratio Comparison

SUES.L has a 0.25% expense ratio, which is higher than HMEF.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

SUES.L vs. HMEF.L - Dividend Comparison

SUES.L has not paid dividends to shareholders, while HMEF.L's dividend yield for the trailing twelve months is around 0.02%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HMEF.L HSBC MSCI Emerging Markets UCITS ETF USD	0.02%	0.02%	0.02%	0.03%	0.03%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
SUES.L iShares MSCI EM SRI UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SUES.L and HMEF.L in my portfolio?

With a correlation of 0.92, SUES.L and HMEF.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.

Which ETF is better, SUES.L or HMEF.L?

On fees, HMEF.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SUES.L or HMEF.L?

HMEF.L is cheaper with a 0.15% expense ratio, compared with 0.25% for SUES.L.

What is the main difference between SUES.L and HMEF.L?

Both ETFs track MSCI EM NR USD. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.25% for SUES.L and 0.15% for HMEF.L.