# HSBC MSCI China A UCITS ETF USD (HMCA) **Page:** https://fundology.uk/fund/hmca · ISIN IE00BF4NQ904 ## 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, HMCA (HSBC MSCI China A UCITS ETF USD, ISIN IE00BF4NQ904) closed at £8.06 on the London Stock Exchange. Its ongoing charge is 0.30% a year (about £30 on £10,000). Over the five years to 13/11/2026 its total return was −14.4%, or −33.2% after UK CPIH inflation. ## Summary HSBC MSCI China A UCITS ETF USD is an exchange-traded fund (ETF) from HSBC, launched in 2018. It tracks the MSCI China A Inclusion Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.3% a year — about £30 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year. Latest close: **£8.06** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | HMCA | | ISIN | IE00BF4NQ904 | | Also listed as | HMCT (London Stock Exchange, US dollars), H41K (Xetra, euros) | | Category | Emerging markets | | Type | ETF | | Provider | HSBC | | Tracks | MSCI China A Inclusion Index | | Income | Distributing | | Ongoing charge | 0.30% a year (£30 per £10,000) | | Fund size | £53.7m | | Launched | 2018 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/01/2018 | ## 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 | -7.63% | -10.90% | income reinvested | | 3 years | +17.44% | +6.10% | income reinvested | | 5 years | -14.36% | -33.15% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of HSBC MSCI China A UCITS ETF USD in pounds (price only, income paid out not included): 2022 −18.5%, 2023 −20.2%, 2024 +7.7%, 2025 +19.8%; 2026 to 13/11/2026 −11.0%. Returns of HSBC MSCI China A UCITS ETF USD in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −0.1%; to 30/09/2025: +20.4%; to 30/09/2024: −4.9%; to 30/09/2023: −15.5%; to 30/09/2022: −10.5%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -18.5% | -25.4% | Price | | 2023 | -20.2% | -23.4% | Price | | 2024 | +7.7% | +4.1% | Price | | 2025 | +19.8% | +15.7% | Price | | 2026 to 13/11/2026 | -11.0% | -13.9% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 15.72% | -21.22% | | 3 years | 22.53% | -21.22% | | 5 years | 21.59% | -44.10% | ## Largest fall Volatility of HSBC MSCI China A UCITS ETF USD in pounds, annualised from weekly returns to 13/11/2026: 15.7% over 1 year, 22.5% over 3 years, 21.6% over 5 years. Largest fall in the price of HSBC MSCI China A UCITS ETF USD since November 2021, in pounds: −44.1% from 10/12/2021 to 13/09/2024. The lowest 12-month return of HSBC MSCI China A UCITS ETF USD in pounds (price only, income paid out not included) since January 2021 was −33.4% (12 months to 02/02/2024); the highest was +38.1% (12 months to 19/06/2026). On 13/11/2026 the price of HSBC MSCI China A UCITS ETF USD was 28.1% below its highest weekly close since November 2021 (10/12/2021), in pounds. ## Charges compared with similar funds Ongoing charge of HSBC MSCI China A UCITS ETF USD 0.30% a year. Compared on 14/11/2026, 85 of the 151 other emerging-market share funds charge more, 5 the same and 61 less (share classes counted once). ## Funds tracking the same index 5 funds track MSCI China A Inclusion Index, this one included and share classes counted once; their ongoing charges range from 0.30% to 0.46% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | HSBC MSCI China A UCITS ETF AccumHedged USD | 0.40% | -11.2% | — | — | | HSBC MSCI China A UCITS ETF AccumUSD | 0.30% | -7.1% | +7.1% | — | | HSBC MSCI China A UCITS ETF USD (this fund) | 0.30% | -7.6% | +17.4% | -14.4% | | iShares MSCI China A UCITS ETF | 0.40% | -7.7% | +17.2% | -15.2% | | Xtrackers MSCI China A UCITS ETF Capitalisation -1C- | 0.46% | -7.7% | +28.9% | -4.9% | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.30%** 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 The latest published holdings of HMCA are dated 02/06/2025, more than three months older than the manager’s other lists. The fund’s portfolio today may differ. ### Top holdings Largest positions (as of 02/06/2025), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Kweichow Moutai · Class A | [600519](https://fundology.uk/stock/600519) | 5.03% | | 2 | Contemporary Amperex Technology · Class A | [300750](https://fundology.uk/stock/300750) | 2.89% | | 3 | China Merchants Bank · Class A | [600036](https://fundology.uk/stock/600036) | 2.36% | | 4 | China Yangtze Power · Class A | [600900](https://fundology.uk/stock/600900) | 1.94% | | 5 | Byd · Class A | [002594](https://fundology.uk/stock/002594) | 1.68% | | 6 | Ping An Insurance (Group) Company of China · Class A | [601318](https://fundology.uk/stock/601318) | 1.51% | | 7 | Wuliangye Yibin · Class A | [000858](https://fundology.uk/stock/000858) | 1.29% | | 8 | Agricultural Bank of China · Class A | [601288](https://fundology.uk/stock/601288) | 1.24% | | 9 | Industrial Bank · Class A | [601166](https://fundology.uk/stock/601166) | 1.24% | | 10 | Industrial and Commercial Bank of China · Class A | [601398](https://fundology.uk/stock/601398) | 1.17% | ## 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 02/06/2025. | Country | Weight | |---|---| | China | 98.7% | | Singapore | 0.6% | | Not classified | 0.7% | All 396 holdings: https://fundology.uk/fund/hmca/holdings ## Questions people ask **What is the ongoing charge of HMCA?** The ongoing charge of HMCA is 0.30% a year — about £30 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 China A UCITS ETF USD 0.30% a year. Compared on 14/11/2026, 85 of the 151 other emerging-market share funds charge more, 5 the same and 61 less (share classes counted once). **What does HMCA track?** HMCA tracks the MSCI China A Inclusion Index. **Is HMCA accumulating or distributing?** HMCA is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly. **What is the ISIN of HMCA?** The ISIN of HMCA is IE00BF4NQ904. An ISIN identifies one exact share class of a fund; HMCA is its ticker on the London Stock Exchange. The same share class is also listed as HMCT (London Stock Exchange, US dollars) and H41K (Xetra, euros). **What does HMCA hold?** The latest published holdings of HMCA are dated 02/06/2025, more than three months older than the manager’s other lists. The fund’s portfolio today may differ. Its ten largest holdings are Kweichow Moutai · Class A (5.03%), Contemporary Amperex Technology · Class A (2.89%), China Merchants Bank · Class A (2.36%), China Yangtze Power · Class A (1.94%), Byd · Class A (1.68%), Ping An Insurance (Group) Company of China · Class A (1.51%), Wuliangye Yibin · Class A (1.29%), Agricultural Bank of China · Class A (1.24%), Industrial Bank · Class A (1.24%) and Industrial and Commercial Bank of China · Class A (1.17%). **What were HMCA’s returns in each of the last five years?** Calendar-year returns of HMCA in pounds (price only, income paid out not included): 2022 −18.5%, 2023 −20.2%, 2024 +7.7%, 2025 +19.8%; 2026 to 13/11/2026 −11.0%. Past performance is not a guide to future returns. **How has HMCA done after inflation?** Over the five years to 13/11/2026 HMCA’s total return was −14.4%, or −33.2% 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/ie00bf4nq904) - [Key investor information document (KIID)](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie00bf4nq904/gb/en/kiid) - [Factsheet](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie00bf4nq904/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.