ETF · HSBC
HMCH HSBC MSCI China UCITS ETF
ISIN IE00B44T3H88London Stock Exchange: HMCHHSBC Holdings Plc
- Emerging markets
- ETF
- ISA
- SIPP
- Distributing
Latest close
LSE£5.12
on
- Ongoing charge
- 0.28% a year
- Fund size
- £616m
As of , at least 15 min delayed
At a glance
As of 13/11/2026, HMCH (HSBC MSCI China UCITS ETF, ISIN IE00B44T3H88) closed at £5.12 on the London Stock Exchange. Its ongoing charge is 0.28% a year (about £28 on £10,000). Over the five years to 13/11/2026 its total return was −14.5%, or −33.3% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- −20.1%
- −23.0% after inflation (UK CPIH)
- 3 years to 13/11/2026
- +20.1%
- +8.5% after inflation (UK CPIH)
- 5 years to 13/11/2026
- −14.5%
- −33.3% after inflation (UK CPIH)
£1,000 put in five years ago would have been worth about £855 on 13/11/2026 — about £667 in today’s spending power, once price rises are taken out. Past performance is not a guide to future returns.
Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of HSBC MSCI China UCITS ETF in pounds (price only, income paid out not included): 2022 −14.8%, 2023 −17.7%, 2024 +17.2%, 2025 +22.8%; 2026 to 13/11/2026 −19.5%. Returns of HSBC MSCI China UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −19.9%; to 30/09/2025: +31.7%; to 30/09/2024: +6.8%; to 30/09/2023: −6.8%; to 30/09/2022: −21.5%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | −19.5% | −22.1% | |
| to | +22.8% | +18.6% | |
| to | +17.2% | +13.2% | |
| −17.7% | −21.0% | ||
| −14.8% | −22.0% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | −19.9% | −22.7% |
| from | +31.7% | +26.6% |
| from | +6.8% | +4.1% |
| from | −6.8% | −12.4% |
| from | −21.5% | −27.9% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
26.5%over 5 years
| 1 year | 17.0% |
|---|---|
| 3 years | 23.9% |
| 5 years | 26.5% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since November 2021
- −43.0%
- From to
- Lowest 12-month return
- −38.6%
- 12 months to
- Highest 12-month return
- +52.2%
- 12 months to
- Below its highest weekly close since November 2021
- 25.0%
- High of , latest
In words: Volatility of HSBC MSCI China UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 17.0% over 1 year, 23.9% over 3 years, 26.5% over 5 years. Largest fall in the price of HSBC MSCI China UCITS ETF since November 2021, in pounds: −43.0% from 19/11/2021 to 02/02/2024. The lowest 12-month return of HSBC MSCI China UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −38.6% (12 months to 28/10/2022); the highest was +52.2% (12 months to 12/09/2025). On 13/11/2026 the price of HSBC MSCI China UCITS ETF was 25.0% below its highest weekly close since November 2021 (19/11/2021), in pounds.
As of , price only — income paid out is not included
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.28%
- a year
- On £10,000
- £28
- a year, roughly
- Over five years
- £139
- of £10,000, before growth
- 56 charge less
- 2 the same
- 93 charge more
Ongoing charge of HSBC MSCI China UCITS ETF 0.28% a year. Compared on 14/11/2026, 93 of the 151 other emerging-market share funds charge more, 2 the same and 56 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
HSBC MSCI China UCITS ETF is an exchange-traded fund (ETF) from HSBC, launched in 2011.
It tracks the MSCI China.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.28% a year — about £28 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.
Emerging markets: Companies in faster-growing but less mature economies such as China, India, Taiwan and Brazil. Prices tend to move more.
Terms:ETFIndex fundUCITSAccumulating or incomeShare classISIN
Key facts
- Ticker
- HMCH
- ISIN
- IE00B44T3H88
- Also listed as
- HMCD (London Stock Exchange, US dollars), H4ZP (Xetra, euros)
- Provider
- HSBC
- Tracks
- MSCI China
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Distributing, paid semi-annual
- Income is paid out to holders as cash, usually a few times a year.
- Ongoing charge
- 0.28% a year · about £28 on £10,000
- Fund size
- £616m
- Launched
- Domicile
- Ireland
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- No
- Price currency
- Pounds (GBP)
- Category
- Emerging markets
Price chart
Over the last year, the closing price went from £6.65 on 14/11/2025 to £5.12 on 13/11/2026 (−23.1%). The lowest close shown was £5.03 on 30/10/2026 and the highest £6.65 on 14/11/2025.
One close a week. Before 31/07/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded. Price only — income paid out is not included, so the line can end below the total return above.
As of , at least 15 min delayed
Five years of prices, and after inflation
262 weekly closes, from 12/11/2021 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
What it holds
- Holdings
- 576
- 577 reported in all
- Ten largest
- 42.9%
- of the whole fund
- Effective number of holdings
- 28
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 13.7%
- Tencent
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | Tencent700China | 13.68% |
| 2 | Alibaba GroupBABAChina | 9.34% |
| 3 | China Construction Bank · Class H601939China | 4.71% |
| 4 | Xiaomi · Class B1810China | 2.76% |
| 5 | Industrial and Commercial Bank of China · Class H601398China | 2.74% |
| 6 | Bank of China · Class H601988China | 2.17% |
| 7 | Meituan · Class B3690China | 2.15% |
| 8 | NetEaseNTESChina | 1.87% |
| 9 | PddPDDChina | 1.78% |
| 10 | Ping An Insurance (Group) Co. of China · Class HChina | 1.73% |
As of , holdings as published
Where it invests
The portfolio by sector, country and type of asset, as a share of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.
By country
- China94.7%
- Hong Kong2.8%
- United States1.6%
- Not classified1.0%
See the full portfolio
Every holding with search and filters, the whole breakdown by sector, country and type of asset, a map of the 100 largest and what changed since .
More of the portfolio
The fund publishes 577 holdings; the ten largest make up 42.9% of it. The fund's portfolio is also split by currency.
Create a free account to see the full holdings list and the currency, maturity and credit-quality breakdowns
Sign-up takes an email address. There is no card to enter and nothing to pay.
Sector split
As a share of the whole fund. 97.2% of it is classified by sector; bonds, cash and positions that cannot be matched are left out rather than guessed.
- Finance21.7%
- Technology Services20.8%
- Retail Trade13.0%
- Electronic Technology7.1%
- Health Technology5.7%
- Producer Manufacturing5.5%
- Consumer Non-Durables3.6%
- Non-Energy Minerals3.4%
- Other classified sectors16.5%
Holdings:Compare what it holds with another fundHoldings overlapHow overlap is measured
Funds tracking the same index
7 funds track MSCI China, this one included and share classes counted once; their ongoing charges range from 0.22% to 0.65% a year (13/11/2026).
| Fund | Charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Franklin MSCI China Paris Aligned Climate UCITS ETFAccumulating · 0.22% a year | 0.22% | −24.4% | Not reported | Not reported |
| HSBC MSCI China UCITS ETFThis fundDistributing · 0.28% a year | 0.28% | −20.1% | +20.1% | −14.5% |
| HSBC MSCI China UCITS ETF Accum USDAccumulating · 0.28% a year | 0.28% | −20.1% | Not reported | Not reported |
| iShares MSCI China UCITS ETF AccumUSDAccumulating · 0.28% a year | 0.28% | −19.7% | +20.3% | −14.3% |
| Multi Units LU -Amundi MSCI China ETF Acc- CapitalisationAccumulating · 0.29% a year | 0.29% | −19.8% | +21.3% | −13.3% |
| Xtrackers MSCI China UCITS ETF 1D DistributionDistributing · 0.30% a year | 0.30% | −20.2% | Not reported | Not reported |
| Xtrackers MSCI CHINA UCITS ETF Capitalisation 1CAccumulating · 0.65% a year | 0.65% | −20.5% | +18.8% | −16.1% |
As of
MSCI China funds compared: charges, sizes and share classes
Read more:Index fundsTracking differenceHow funds are compared
Other versions of this fund
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1, 3 and 5 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 254 rolling 12-month returns since January 2021, and of 150 rolling three-year returns, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The largest fall since November 2021, in pounds, with how many weeks it took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Rank among similar funds
Rank by total return over 1, 3 and 5 years among up to 142 emerging-market share funds, not currency-hedged, highest first.
ProMoves compared with a similar fund
Correlation and beta of weekly returns in pounds against iShares Core MSCI EM IMI UCITS ETF, over the three years to 13/11/2026 (156 weeks).
Pro
Pro — currently by invitation
Pro includes the rank among similar funds and moves against a comparable fund
Pro is open by invitation while it is being built. There is nothing to buy. To ask about access, email [email protected].
Questions people ask
What is the ongoing charge of HMCH?
The ongoing charge of HMCH is 0.28% a year — about £28 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 UCITS ETF 0.28% a year. Compared on 14/11/2026, 93 of the 151 other emerging-market share funds charge more, 2 the same and 56 less (share classes counted once).
What does HMCH track?
HMCH tracks the MSCI China.
Is HMCH accumulating or distributing?
HMCH is distributing: income is paid out to holders as cash, usually a few times a year. It pays out semi-annual.
What is the ISIN of HMCH?
The ISIN of HMCH is IE00B44T3H88. An ISIN identifies one exact share class of a fund; HMCH is its ticker on the London Stock Exchange. The same share class is also listed as HMCD (London Stock Exchange, US dollars) and H4ZP (Xetra, euros).
What does HMCH hold?
As of 06/11/2026, HMCH holds 577 positions, according to its published holdings. The largest is Tencent at 13.68% of the fund; the ten largest make up 42.9%. Its ten largest holdings are Tencent (13.68%), Alibaba Group (9.34%), China Construction Bank · Class H (4.71%), Xiaomi · Class B (2.76%), Industrial and Commercial Bank of China · Class H (2.74%), Bank of China · Class H (2.17%), Meituan · Class B (2.15%), NetEase (1.87%), Pdd (1.78%) and Ping An Insurance (Group) Co. of China · Class H (1.73%).
What were HMCH’s returns in each of the last five years?
Calendar-year returns of HMCH in pounds (price only, income paid out not included): 2022 −14.8%, 2023 −17.7%, 2024 +17.2%, 2025 +22.8%; 2026 to 13/11/2026 −19.5%. Past performance is not a guide to future returns.
How has HMCH done after inflation?
Over the five years to 13/11/2026 HMCH’s total return was −14.5%, or −33.3% after UK CPIH inflation. Past performance is not a guide to future returns.
Similar funds
- EMIMiShares Core MSCI EM IMI UCITS ETF0.18% a year · £31bn
- XMMSXtrackers MSCI Emerging Markets UCITS ETF0.18% a year · £9.9bn
- SEMAiShares MSCI EM UCITS ETF USD (Acc)0.18% a year · £7.6bn
- IEEMiShares MSCI EM UCITS ETF USD (Dist)0.18% a year · £7.0bn
- EDG2iShares MSCI EM CTB Enhanced ESG UCITS ETF0.23% a year · £6.0bn
- CEA1iShares MSCI EM Asia UCITS ETF0.20% a year · £5.8bn
- E127Multi Units LU - Amundi MSCI Emerging Markets II0.14% a year · £4.5bn
- LEMAMulti Units LU - Amundi MSCI Emerging Markets II Acc0.14% a year · £4.4bn
Fund documents and methods
- Fund documents
- Fund page at HSBC Asset Management · Key investor information document (KIID) · Factsheet (links checked )
Methodology:ReturnsCategoriesAll methods
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