SUSM.L vs. HMEF.L
SUSM.L (iShares MSCI EM SRI UCITS ETF USD (Acc)) and HMEF.L (HSBC MSCI Emerging Markets UCITS ETF USD) are both Emerging Markets Equities funds - SUSM.L tracks the MSCI EM SRI Select Reduced Fossil Fuel Index while HMEF.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, SUSM.L returned 3.24%/yr vs 6.23%/yr for HMEF.L. Their correlation of 0.89 suggests significant overlap in exposure. SUSM.L charges 0.25%/yr vs 0.15%/yr for HMEF.L.
Performance
SUSM.L vs. HMEF.L - Performance Comparison
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Different Trading Currencies
SUSM.L is traded in USD, while HMEF.L is traded in GBp. To make them comparable, the HMEF.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SUSM.L achieves a 10.99% return, which is significantly lower than HMEF.L's 20.52% return.
SUSM.L
- 1D
- -0.98%
- 1M
- -4.70%
- YTD
- 10.99%
- 6M
- 13.35%
- 1Y
- 32.03%
- 3Y*
- 15.03%
- 5Y*
- 3.24%
- 10Y*
- —
HMEF.L
- 1D
- -4.33%
- 1M
- -2.71%
- YTD
- 20.52%
- 6M
- 22.13%
- 1Y
- 44.98%
- 3Y*
- 21.53%
- 5Y*
- 6.23%
- 10Y*
- 45.74%
SUSM.L vs. HMEF.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SUSM.L iShares MSCI EM SRI UCITS ETF USD (Acc) | 10.99% | 32.23% | 4.76% | 1.17% | -18.34% | -1.05% | 19.02% | 14.88% | -10.27% | 34.67% |
HMEF.L HSBC MSCI Emerging Markets UCITS ETF USD | 20.52% | 33.96% | 7.26% | 7.85% | -19.63% | -3.16% | 18.32% | 17.27% | -14.74% | 120.60% |
Correlation
The correlation between SUSM.L and HMEF.L is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2016 | 0.89 |
The correlation between SUSM.L and HMEF.L has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
SUSM.L vs. HMEF.L — Risk / Return Rank
SUSM.L
HMEF.L
SUSM.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 USD (Acc) (SUSM.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.
| SUSM.L | HMEF.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.42 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 3.41 | -0.82 |
| Martin ratioReturn relative to average drawdown | 8.91 | 12.59 | -3.68 |
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
| SUSM.L | HMEF.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 2.30 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.33 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.66 | -0.27 |
Drawdowns
SUSM.L vs. HMEF.L - Drawdown Comparison
The maximum SUSM.L drawdown since its inception was -40.77%, roughly equal to the maximum HMEF.L drawdown of -39.89%. Use the drawdown chart below to compare losses from any high point for SUSM.L and HMEF.L.
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Drawdown Indicators
| SUSM.L | HMEF.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.77% | -39.89% | -0.88% |
Max Drawdown (1Y)Largest decline over 1 year | -12.30% | -13.08% | +0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -19.35% | -16.21% | -3.14% |
Max Drawdown (5Y)Largest decline over 5 years | -35.54% | -36.99% | +1.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.89% | — |
Current DrawdownCurrent decline from peak | -6.78% | -7.06% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -13.90% | -11.09% | -2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 3.55% | +0.04% |
Volatility
SUSM.L vs. HMEF.L - Volatility Comparison
The current volatility for iShares MSCI EM SRI UCITS ETF USD (Acc) (SUSM.L) is 7.13%, while HSBC MSCI Emerging Markets UCITS ETF USD (HMEF.L) has a volatility of 8.90%. This indicates that SUSM.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.
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Volatility by Period
| SUSM.L | HMEF.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.13% | 8.90% | -1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 16.02% | 16.93% | -0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.90% | 19.42% | -0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.29% | 18.73% | +0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.23% | 141.93% | -121.70% |
SUSM.L vs. HMEF.L - Expense Ratio Comparison
SUSM.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
SUSM.L vs. HMEF.L - Dividend Comparison
SUSM.L has not paid dividends to shareholders, while HMEF.L's dividend yield for the trailing twelve months is around 1.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMEF.L HSBC MSCI Emerging Markets UCITS ETF USD | 1.68% | 1.98% | 2.43% | 2.58% | 2.99% | 2.01% | 1.66% | 2.11% | 2.14% | 37.43% | 168.62% | 225.12% |
SUSM.L iShares MSCI EM SRI UCITS ETF USD (Acc) | 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
With a correlation of 0.91, SUSM.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.
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.
HMEF.L is cheaper with a 0.15% expense ratio, compared with 0.25% for SUSM.L.
SUSM.L tracks MSCI EM SRI Select Reduced Fossil Fuel Index, while HMEF.L tracks MSCI EM NR USD. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.25% for SUSM.L and 0.15% for HMEF.L.
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