# HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF USD (HMAF) **Page:** https://fundology.uk/fund/hmaf · ISIN IE00BBQ2W338 ## 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, HMAF (HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF USD, ISIN IE00BBQ2W338) closed at £61.56 on the London Stock Exchange. Its ongoing charge is 0.52% a year (about £52 on £10,000). Over the five years to 13/11/2026 its total return was +47.2%, or +14.9% after UK CPIH inflation. ## Summary HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF USD is an exchange-traded fund (ETF) from HSBC, launched in 2013. It tracks the MSCI AC Far East ex JP. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.52% a year — about £52 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: **£61.56** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | HMAF | | ISIN | IE00BBQ2W338 | | Also listed as | HMAD (London Stock Exchange, US dollars), H411 (Xetra, euros) | | Category | Japan & Asia Pacific | | Type | ETF | | Provider | HSBC | | Tracks | MSCI AC Far East ex JP | | Income | Accumulating | | Ongoing charge | 0.52% a year (£52 per £10,000) | | Fund size | £310m | | Launched | 2013 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 25/09/2013 | ## 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 | +18.09% | +13.91% | income reinvested | | 3 years | +82.41% | +64.80% | income reinvested | | 5 years | +47.20% | +14.90% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF USD in pounds (price, with income reinvested in the fund): 2022 −12.6%, 2023 −3.8%, 2024 +15.0%, 2025 +33.2%; 2026 to 13/11/2026 +15.2%. Returns of HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF USD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +37.3%; to 30/09/2025: +28.3%; to 30/09/2024: +15.2%; to 30/09/2023: +0.6%; to 30/09/2022: −16.1%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -12.6% | -20.0% | Price | | 2023 | -3.8% | -7.6% | Price | | 2024 | +15.0% | +11.1% | Price | | 2025 | +33.2% | +28.6% | Price | | 2026 to 13/11/2026 | +15.2% | +11.5% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 23.18% | -19.01% | | 3 years | 19.23% | -19.01% | | 5 years | 19.23% | -29.49% | ## Largest fall Volatility of HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF USD in pounds, annualised from weekly returns to 13/11/2026: 23.2% over 1 year, 19.2% over 3 years, 19.2% over 5 years. Largest fall in the price of HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF USD since November 2021, in pounds: −28.5% from 19/11/2021 to 28/10/2022. The lowest 12-month return of HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF USD in pounds (price, with income reinvested in the fund) since January 2021 was −26.8% (12 months to 28/10/2022); the highest was +76.4% (12 months to 19/06/2026). On 13/11/2026 the price of HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF USD was 16.7% below its highest weekly close since November 2021 (19/06/2026), in pounds. ## Charges compared with similar funds Ongoing charge of HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF USD 0.52% a year. Compared on 14/11/2026, 7 of the 108 other Japan and Asia Pacific share funds charge more, 0 the same and 101 less (share classes counted once). ## Funds tracking the same index 3 funds track MSCI AC Far East ex JP, this one included and share classes counted once; their ongoing charges range from 0.45% to 0.74% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF USD (this fund) | 0.52% | +18.1% | +82.4% | +47.2% | | HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF USD Dist | 0.45% | +18.1% | — | — | | iShares MSCI AC Far East ex-Japan UCITS ETF | 0.74% | +17.9% | +81.4% | +45.8% | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.52%** 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, HMAF holds 828 positions, according to its published holdings. The largest is TSMC at 19.53% of the fund; the ten largest make up 46.6%. ### Top holdings Largest positions (as of 06/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | TSMC | [2330](https://fundology.uk/stock/2330) | 19.53% | | 2 | Samsung Electronics | [005930](https://fundology.uk/stock/005930) | 7.90% | | 3 | SK hynix | [000660](https://fundology.uk/stock/000660) | 5.60% | | 4 | Tencent | [700](https://fundology.uk/stock/700) | 3.99% | | 5 | Alibaba Group | [BABA](https://fundology.uk/stock/BABA) | 2.73% | | 6 | MediaTek | [2454](https://fundology.uk/stock/2454) | 1.82% | | 7 | China Construction Bank · Class H | [601939](https://fundology.uk/stock/601939) | 1.37% | | 8 | DBS Group | [D05](https://fundology.uk/stock/D05) | 1.36% | | 9 | AIA Group | [1299](https://fundology.uk/stock/1299) | 1.26% | | 10 | Samsung Electronics | [005930](https://fundology.uk/stock/005930) | 1.08% | ## 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 03/11/2026. | Country | Weight | |---|---| | Taiwan | 35.5% | | China | 25.5% | | South Korea | 25.0% | | Hong Kong | 4.7% | | Singapore | 4.4% | | Malaysia | 1.2% | | Thailand | 1.2% | | United States | 0.7% | | Other countries | 0.9% | | Not classified | 0.8% | The 700 holdings on record (of 828 reported): https://fundology.uk/fund/hmaf/holdings ## Questions people ask **What is the ongoing charge of HMAF?** The ongoing charge of HMAF is 0.52% a year — about £52 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 MSCI AC FAR EAST ex JAPAN UCITS ETF USD 0.52% a year. Compared on 14/11/2026, 7 of the 108 other Japan and Asia Pacific share funds charge more, 0 the same and 101 less (share classes counted once). **What does HMAF track?** HMAF tracks the MSCI AC Far East ex JP. **Is HMAF accumulating or distributing?** HMAF 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 HMAF?** The ISIN of HMAF is IE00BBQ2W338. An ISIN identifies one exact share class of a fund; HMAF is its ticker on the London Stock Exchange. The same share class is also listed as HMAD (London Stock Exchange, US dollars) and H411 (Xetra, euros). **What does HMAF hold?** As of 06/11/2026, HMAF holds 828 positions, according to its published holdings. The largest is TSMC at 19.53% of the fund; the ten largest make up 46.6%. Its ten largest holdings are TSMC (19.53%), Samsung Electronics (7.90%), SK hynix (5.60%), Tencent (3.99%), Alibaba Group (2.73%), MediaTek (1.82%), China Construction Bank · Class H (1.37%), DBS Group (1.36%), AIA Group (1.26%) and Samsung Electronics (1.08%). **What were HMAF’s returns in each of the last five years?** Calendar-year returns of HMAF in pounds (price, with income reinvested in the fund): 2022 −12.6%, 2023 −3.8%, 2024 +15.0%, 2025 +33.2%; 2026 to 13/11/2026 +15.2%. Past performance is not a guide to future returns. **How has HMAF done after inflation?** Over the five years to 13/11/2026 HMAF’s total return was +47.2%, or +14.9% 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/ie00bbq2w338) - [Key investor information document (KIID)](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie00bbq2w338/gb/en/kiid) - [Factsheet](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie00bbq2w338/gb/en/factsheet) - Links checked 12/10/2026. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.