# HSBC MSCI Emerging Markets Small Cap Screened UCITS ETF (HESS)

**Page:** https://fundology.uk/fund/hess · ISIN IE000W080FK3

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, HESS (HSBC MSCI Emerging Markets Small Cap Screened UCITS ETF, ISIN IE000W080FK3) closed at £20.90 on the London Stock Exchange. Its ongoing charge is 0.35% a year (about £35 on £10,000). Over the three years to 13/11/2026 its total return was +30.6%, or +18.0% after UK CPIH inflation.

## Summary

HSBC ETFs PLC - HSBC MSCI Emerging Markets Small Cap Screened UCITS ETF is an exchange-traded fund (ETF) from HSBC, launched in 2022. It tracks the MSCI Emerging Markets Small Cap Universal Screens Index - Benchmark TR Net — companies in emerging economies such as China, India, Taiwan and Brazil. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.35% a year — about £35 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Latest close: **£20.90** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | HESS |
| ISIN | IE000W080FK3 |
| Also listed as | HESC (London Stock Exchange, US dollars), H41F (Xetra, euros) |
| Category | Smaller companies |
| Type | ETF |
| Provider | HSBC |
| Tracks | MSCI Emerging Markets Small Cap Universal Screens Index - Benchmark TR Net |
| Income | Accumulating |
| Ongoing charge | 0.35% a year (£35 per £10,000) |
| Fund size | £47.9m |
| Launched | 2022 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/01/2022 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +8.54% | +4.70% | income reinvested |
| 3 years | +30.56% | +17.96% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of HSBC ETFs PLC - HSBC MSCI Emerging Markets Small Cap Screened UCITS ETF in pounds (price, with income reinvested in the fund): 2023 +11.4%, 2024 +2.9%, 2025 +18.7%; 2026 to 13/11/2026 +7.3%. Returns of HSBC ETFs PLC - HSBC MSCI Emerging Markets Small Cap Screened UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +21.3%; to 30/09/2025: +15.0%; to 30/09/2024: +7.0%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2023 | +11.4% | +7.0% | Price |
| 2024 | +2.9% | -0.6% | Price |
| 2025 | +18.7% | +14.7% | Price |
| 2026 to 13/11/2026 | +7.3% | +3.9% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 21.53% | -14.37% |
| 3 years | 15.70% | -14.37% |

## Largest fall

Volatility of HSBC ETFs PLC - HSBC MSCI Emerging Markets Small Cap Screened UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 21.5% over 1 year, 15.7% over 3 years. Largest fall in the price of HSBC ETFs PLC - HSBC MSCI Emerging Markets Small Cap Screened UCITS ETF since November 2022, in pounds: −14.4% from 09/10/2026 to 06/11/2026. The lowest 12-month return of HSBC ETFs PLC - HSBC MSCI Emerging Markets Small Cap Screened UCITS ETF in pounds (price, with income reinvested in the fund) since November 2022 was −10.6% (12 months to 11/04/2025); the highest was +52.8% (12 months to 17/04/2026). On 13/11/2026 the price of HSBC ETFs PLC - HSBC MSCI Emerging Markets Small Cap Screened UCITS ETF was 11.9% below its highest weekly close since November 2022 (09/10/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of HSBC ETFs PLC - HSBC MSCI Emerging Markets Small Cap Screened UCITS ETF 0.35% a year. Compared on 14/11/2026, 13 of the 36 other smaller-company funds charge more, 2 the same and 21 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.35%** per year
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 06/11/2026, HESS holds 841 positions, according to its published holdings. The largest is Samsung E&A at 1.56% of the fund; the ten largest make up 9.5%.

### Top holdings

Largest positions (as of 06/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Samsung E&A | [028050](https://fundology.uk/stock/028050) | 1.56% |
| 2 | Cash and other net assets | — | 1.41% |
| 3 | Auo | [2409](https://fundology.uk/stock/2409) | 1.09% |
| 4 | Coway | [021240](https://fundology.uk/stock/021240) | 0.94% |
| 5 | Iteq | [6213](https://fundology.uk/stock/6213) | 0.83% |
| 6 | Old Mutual | [OMU](https://fundology.uk/stock/OMU) | 0.79% |
| 7 | Samsung Securities | [016360](https://fundology.uk/stock/016360) | 0.76% |
| 8 | Growthpoint Properties | [GRT](https://fundology.uk/stock/GRT) | 0.72% |
| 9 | Corporacion Inmobiliaria Vesta S.A.B. de C.V | [VESTA](https://fundology.uk/stock/VESTA) | 0.70% |
| 10 | Totvs | [TOTS3](https://fundology.uk/stock/TOTS3) | 0.70% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By country

Added up from the fund’s published holdings, as of 06/11/2026.

| Country | Weight |
|---|---|
| Taiwan | 26.2% |
| South Korea | 18.8% |
| China | 10.5% |
| India | 10.0% |
| South Africa | 7.2% |
| Brazil | 5.5% |
| Malaysia | 4.0% |
| Thailand | 3.1% |
| Other countries | 13.1% |
| Not classified | 1.4% |

The 836 holdings on record (of 841 reported): https://fundology.uk/fund/hess/holdings

## Questions people ask

**What is the ongoing charge of HESS?**

The ongoing charge of HESS is 0.35% a year — about £35 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of HSBC ETFs PLC - HSBC MSCI Emerging Markets Small Cap Screened UCITS ETF 0.35% a year. Compared on 14/11/2026, 13 of the 36 other smaller-company funds charge more, 2 the same and 21 less (share classes counted once).

**What does HESS track?**

HESS tracks the MSCI Emerging Markets Small Cap Universal Screens Index - Benchmark TR Net — companies in emerging economies such as China, India, Taiwan and Brazil.

**Is HESS accumulating or distributing?**

HESS is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of HESS?**

The ISIN of HESS is IE000W080FK3. An ISIN identifies one exact share class of a fund; HESS is its ticker on the London Stock Exchange. The same share class is also listed as HESC (London Stock Exchange, US dollars) and H41F (Xetra, euros).

**What does HESS hold?**

As of 06/11/2026, HESS holds 841 positions, according to its published holdings. The largest is Samsung E&A at 1.56% of the fund; the ten largest make up 9.5%. Its ten largest holdings are Samsung E&A (1.56%), Cash and other net assets (1.41%), Auo (1.09%), Coway (0.94%), Iteq (0.83%), Old Mutual (0.79%), Samsung Securities (0.76%), Growthpoint Properties (0.72%), Corporacion Inmobiliaria Vesta S.A.B. de C.V (0.70%) and Totvs (0.70%).

**What were HESS’s returns in each of the last five years?**

Calendar-year returns of HESS in pounds (price, with income reinvested in the fund): 2023 +11.4%, 2024 +2.9%, 2025 +18.7%; 2026 to 13/11/2026 +7.3%. Past performance is not a guide to future returns.

**How has HESS done after inflation?**

Over the three years to 13/11/2026 HESS’s total return was +30.6%, or +18.0% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at HSBC Asset Management](https://www.assetmanagement.hsbc.co.uk/en/individual-investor/funds/ie000w080fk3)
- [Key investor information document (KIID)](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie000w080fk3/gb/en/kiid)
- [Factsheet](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie000w080fk3/gb/en/factsheet)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.