XAUS.L vs. HMXJ.L

Last updated Jun 5, 2026

XAUS.L (Xtrackers S&P/ASX 200 UCITS ETF 1D) and HMXJ.L (HSBC MSCI Pacific ex Japan UCITS ETF) are both Asia Pacific Equities funds - XAUS.L tracks the MSCI Australia NR USD while HMXJ.L tracks the MSCI Pacific Ex Japan NR USD. Both are passively managed. Over the past 10 years, XAUS.L returned 9.17%/yr vs 8.45%/yr for HMXJ.L. A 0.69 correlation means they provide meaningful diversification when combined. XAUS.L charges 0.50%/yr vs 0.40%/yr for HMXJ.L.

Performance

XAUS.L vs. HMXJ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers S&P/ASX 200 UCITS ETF 1D (XAUS.L) and HSBC MSCI Pacific ex Japan UCITS ETF (HMXJ.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XAUS.L achieves a 8.13% return, which is significantly lower than HMXJ.L's 8.91% return. Over the past 10 years, XAUS.L has outperformed HMXJ.L with an annualized return of 9.17%, while HMXJ.L has yielded a comparatively lower 8.45% annualized return.

XAUS.L

• 1D: -0.60%
• 1M: 0.41%
• YTD: 8.13%
• 6M: 9.60%
• 1Y: 16.15%
• 3Y*: 9.59%
• 5Y*: 6.41%
• 10Y*: 9.17%

HMXJ.L

• 1D: -0.47%
• 1M: 0.55%
• YTD: 8.91%
• 6M: 9.65%
• 1Y: 17.57%
• 3Y*: 10.62%
• 5Y*: 6.07%
• 10Y*: 8.45%

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

XAUS.L vs. HMXJ.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XAUS.L Xtrackers S&P/ASX 200 UCITS ETF 1D	8.13%	9.45%	3.36%	5.67%	3.27%	9.35%	9.38%	18.34%	-8.52%	9.19%
HMXJ.L HSBC MSCI Pacific ex Japan UCITS ETF	8.91%	12.37%	6.43%	0.38%	5.35%	5.41%	3.21%	13.89%	-5.45%	14.45%

Correlation

The correlation between XAUS.L and HMXJ.L is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Sep 14, 2010	0.69

The correlation between XAUS.L and HMXJ.L shifts across timeframes, from 0.69 (all time) to 0.88 (3 years), reflecting how their relationship changes across market environments.

XAUS.L vs. HMXJ.L - Sectors Allocation Comparison

Sectors	XAUS.L	HMXJ.L
Financial Services	34.8%	45.1%
Basic Materials	24.7%	16.1%
Consumer Cyclical	6.7%	6.3%
Industrials	6.3%	8.5%
Real Estate	5.8%	7.8%
Healthcare	5.5%	3.3%
Energy	5.0%	2.7%
Communication Services	3.7%	2.6%
Consumer Defensive	3.6%	3.0%
Technology	2.5%	1.0%
Utilities	1.5%	3.5%

Return for Risk

XAUS.L vs. HMXJ.L — Risk / Return Rank

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

XAUS.L

XAUS.L Risk / Return Rank: 35
XAUS.L Sharpe Ratio Rank: 36
XAUS.L Sortino Ratio Rank: 36
XAUS.L Omega Ratio Rank: 35
XAUS.L Calmar Ratio Rank: 35
XAUS.L Martin Ratio Rank: 35

HMXJ.L

HMXJ.L Risk / Return Rank: 48
HMXJ.L Sharpe Ratio Rank: 47
HMXJ.L Sortino Ratio Rank: 50
HMXJ.L Omega Ratio Rank: 46
HMXJ.L Calmar Ratio Rank: 51
HMXJ.L Martin Ratio Rank: 46

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.

XAUS.L vs. HMXJ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P/ASX 200 UCITS ETF 1D (XAUS.L) and HSBC MSCI Pacific ex Japan UCITS ETF (HMXJ.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.

	XAUS.L	HMXJ.L	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.61	-0.34
Sortino ratio: Return per unit of downside risk	1.86	2.40	-0.54
Omega ratio: Gain probability vs. loss probability	1.23	1.29	-0.06
Calmar ratio: Return relative to maximum drawdown	1.72	2.46	-0.73
Martin ratio: Return relative to average drawdown	5.19	7.37	-2.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XAUS.L vs. HMXJ.L - Sharpe Ratio Comparison

The current XAUS.L Sharpe Ratio is 1.27, which is comparable to the HMXJ.L Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of XAUS.L and HMXJ.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

	XAUS.L	HMXJ.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.61	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.44	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.55	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.42	-0.04

Drawdowns

XAUS.L vs. HMXJ.L - Drawdown Comparison

The maximum XAUS.L drawdown since its inception was -51.15%, which is greater than HMXJ.L's maximum drawdown of -32.30%. Use the drawdown chart below to compare losses from any high point for XAUS.L and HMXJ.L.

Drawdown Indicators

	XAUS.L	HMXJ.L	Difference
Max Drawdown Largest peak-to-trough decline	-51.15%	-32.30%	-18.85%
Max Drawdown (1Y) Largest decline over 1 year	-9.57%	-7.12%	-2.45%
Max Drawdown (3Y) Largest decline over 3 years	-21.54%	-17.47%	-4.07%
Max Drawdown (5Y) Largest decline over 5 years	-21.54%	-17.65%	-3.89%
Max Drawdown (10Y) Largest decline over 10 years	-38.31%	-32.30%	-6.01%
Current Drawdown Current decline from peak	-4.18%	-2.76%	-1.42%
Average Drawdown Average peak-to-trough decline	-8.06%	-6.74%	-1.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	2.38%	+0.76%

Volatility

XAUS.L vs. HMXJ.L - Volatility Comparison

Xtrackers S&P/ASX 200 UCITS ETF 1D (XAUS.L) has a higher volatility of 4.33% compared to HSBC MSCI Pacific ex Japan UCITS ETF (HMXJ.L) at 3.58%. This indicates that XAUS.L's price experiences larger fluctuations and is considered to be riskier than HMXJ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XAUS.L	HMXJ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	3.58%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	10.24%	8.32%	+1.92%
Volatility (1Y) Calculated over the trailing 1-year period	13.00%	10.89%	+2.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.76%	13.80%	+2.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.45%	16.12%	+4.33%

XAUS.L vs. HMXJ.L - Expense Ratio Comparison

XAUS.L has a 0.50% expense ratio, which is higher than HMXJ.L's 0.40% expense ratio.

Dividends

XAUS.L vs. HMXJ.L - Dividend Comparison

XAUS.L's dividend yield for the trailing twelve months is around 2.54%, less than HMXJ.L's 3.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HMXJ.L HSBC MSCI Pacific ex Japan UCITS ETF	3.02%	3.43%	3.80%	4.13%	3.79%	2.71%	3.05%	3.88%	3.80%	3.23%	3.32%	4.03%
XAUS.L Xtrackers S&P/ASX 200 UCITS ETF 1D	2.54%	2.67%	3.22%	3.83%	5.17%	2.15%	4.85%	3.73%	3.53%	3.49%	3.73%	0.00%

Frequently Asked Questions

Can I hold both XAUS.L and HMXJ.L in my portfolio?

XAUS.L and HMXJ.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XAUS.L or HMXJ.L?

On fees, HMXJ.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XAUS.L or HMXJ.L?

HMXJ.L is cheaper with a 0.40% expense ratio, compared with 0.50% for XAUS.L.

What is the main difference between XAUS.L and HMXJ.L?

XAUS.L tracks MSCI Australia NR USD, while HMXJ.L tracks MSCI Pacific Ex Japan NR USD. They also come from different issuers: DWS and HSBC. Their fees differ too: 0.50% for XAUS.L and 0.40% for HMXJ.L.