# HSBC MSCI Emerging Markets UCITS ETF (HMEF)

**Page:** https://fundology.uk/fund/hmef · ISIN IE00B5SSQT16

## 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, HMEF (HSBC MSCI Emerging Markets UCITS ETF, ISIN IE00B5SSQT16) closed at £11.59 on the London Stock Exchange. Its ongoing charge is 0.15% a year (about £15 on £10,000). Over the five years to 13/11/2026 its total return was +39.9%, or +9.2% after UK CPIH inflation.

## Summary

HSBC MSCI Emerging Markets UCITS ETF is an exchange-traded fund (ETF) from HSBC, launched in 2011. It tracks the MSCI Emerging Markets Index - USD — 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 0.15% a year — about £15 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: **£11.59** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | HMEF |
| ISIN | IE00B5SSQT16 |
| Also listed as | HMEM (London Stock Exchange, US dollars), H410 (Xetra, euros) |
| Category | Emerging markets |
| Type | ETF |
| Provider | HSBC |
| Tracks | MSCI Emerging Markets Index - USD |
| Income | Distributing |
| Ongoing charge | 0.15% a year (£15 per £10,000) |
| Fund size | £3.0bn |
| Launched | 2011 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 12/07/2011 |

## 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 | +13.68% | +9.65% | income reinvested |
| 3 years | +62.58% | +46.89% | income reinvested |
| 5 years | +39.92% | +9.22% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of HSBC MSCI Emerging Markets UCITS ETF in pounds (price only, income paid out not included): 2022 −12.6%, 2023 −0.2%, 2024 +7.8%, 2025 +22.4%; 2026 to 13/11/2026 +9.5%. Returns of HSBC MSCI Emerging Markets UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +26.1%; to 30/09/2025: +15.8%; to 30/09/2024: +12.0%; to 30/09/2023: −1.4%; to 30/09/2022: −14.0%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -12.6% | -20.0% | Price |
| 2023 | -0.2% | -4.2% | Price |
| 2024 | +7.8% | +4.1% | Price |
| 2025 | +22.4% | +18.2% | Price |
| 2026 to 13/11/2026 | +9.5% | +6.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 21.24% | -16.54% |
| 3 years | 16.56% | -16.54% |
| 5 years | 16.33% | -24.01% |

## Largest fall

Volatility of HSBC MSCI Emerging Markets UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 21.2% over 1 year, 16.6% over 3 years, 16.3% over 5 years. Largest fall in the price of HSBC MSCI Emerging Markets UCITS ETF since November 2021, in pounds: −22.3% from 19/11/2021 to 28/10/2022. The lowest 12-month return of HSBC MSCI Emerging Markets UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −20.7% (12 months to 28/10/2022); the highest was +54.3% (12 months to 19/06/2026). On 13/11/2026 the price of HSBC MSCI Emerging Markets UCITS ETF was 14.3% below its highest weekly close since November 2021 (19/06/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of HSBC MSCI Emerging Markets UCITS ETF 0.15% a year. Compared on 14/11/2026, 138 of the 151 other emerging-market share funds charge more, 4 the same and 9 less (share classes counted once).

## Funds tracking the same index

20 funds track MSCI Emerging Markets Index - USD, this one included and share classes counted once; their ongoing charges range from 0.09% to 0.55% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Amundi Core MSCI Emerging Markets -UCITS ETF DR- Capitalisation | 0.18% | +11.8% | +59.0% | +37.7% |
| Amundi Core MSCI Emerging Markets -UCITS ETF DR- Distribution | 0.24% | +11.4% | +62.1% | +37.5% |
| Amundi MSCI Emerging Markets Swap -UCITS ETF USD C- Capitalisation | 0.20% | +13.7% | +63.6% | +40.6% |
| Amundi MSCI Emerging Markets Swap II UCITS ETF Act -USD Acc- | 0.55% | +11.5% | +61.8% | +35.6% |
| BNP PARIBAS EASY MSCI EMERGING Capitalisation -UCITS ETF- | 0.09% | — | — | — |
| HSBC MSCI Emerging Markets UCITS ETF (this fund) | 0.15% | +13.7% | +62.6% | +39.9% |
| HSBC MSCI EMERGING MARKETS UCITS ETF AccumUSD | 0.15% | +13.7% | — | — |
| Invesco MSCI Emerging Markets UCITS ETF | 0.19% | +13.4% | +62.3% | +39.0% |
| iShares MSCI EM UCITS ETF USD (Acc) | 0.18% | +13.5% | +63.8% | +41.0% |
| iShares MSCI EM UCITS ETF USD (Dist) | 0.18% | +13.5% | +63.7% | +40.8% |
| iShares VI PLC - iShares MSCI EM Swap UCITS ETF Accum- USD | 0.14% | — | — | — |
| Multi Units LU - Amundi MSCI Emerging Markets II | 0.14% | +13.7% | +64.1% | — |
| Multi Units LU - Amundi MSCI Emerging Markets II Acc | 0.14% | +14.3% | +64.2% | — |
| State Street SPDR MSCI Emerging Markets UCITS ETF Accum.Shs USD | 0.18% | +12.2% | +60.6% | +38.4% |
| UBS (Irl) Fund Solutions PLC - UBS MSCI EM SF UCITS ETF Accum Shs USD | 0.14% | +13.6% | +58.7% | +40.7% |
| UBS ETF SICAV - UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution | 0.15% | +11.9% | +64.0% | +39.7% |
| Xtrackers MSCI Emerging Markets Swap UCITS ETF | 0.12% | +14.2% | — | — |
| Xtrackers MSCI Emerging Markets Swap UCITS ETF Capitalisation 1C | 0.12% | +13.5% | +62.6% | +39.3% |
| Xtrackers MSCI Emerging Markets UCITS ETF | 0.18% | +13.5% | +63.6% | +40.3% |
| Xtrackers MSCI Emerging Markets UCITS ETF USD | 0.18% | +14.1% | +63.7% | — |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.15%** per year (as of 08/10/2026)
- 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, HMEF holds 1,171 positions, according to its published holdings. The largest is TSMC at 14.74% of the fund; the ten largest make up 35.0%.

### 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) | 14.74% |
| 2 | Samsung Electronics | [005930](https://fundology.uk/stock/005930) | 5.97% |
| 3 | SK hynix | [000660](https://fundology.uk/stock/000660) | 4.23% |
| 4 | Tencent | [700](https://fundology.uk/stock/700) | 3.01% |
| 5 | Alibaba Group | [BABA](https://fundology.uk/stock/BABA) | 2.06% |
| 6 | MediaTek | [2454](https://fundology.uk/stock/2454) | 1.38% |
| 7 | China Construction Bank · Class H | [601939](https://fundology.uk/stock/601939) | 1.04% |
| 8 | HDFC Bank | [HDFCBANK](https://fundology.uk/stock/HDFCBANK) | 0.88% |
| 9 | ICICI Bank | [ICICIBANK](https://fundology.uk/stock/ICICIBANK) | 0.82% |
| 10 | Samsung Electronics | [005930](https://fundology.uk/stock/005930) | 0.82% |

## 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 | 27.4% |
| China | 19.5% |
| South Korea | 19.3% |
| India | 12.1% |
| Brazil | 3.8% |
| South Africa | 2.7% |
| Saudi Arabia | 2.4% |
| Mexico | 1.8% |
| Other countries | 10.2% |
| Not classified | 0.9% |

The 971 holdings on record (of 1,171 reported): https://fundology.uk/fund/hmef/holdings

## Questions people ask

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

The ongoing charge of HMEF is 0.15% a year — about £15 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 Emerging Markets UCITS ETF 0.15% a year. Compared on 14/11/2026, 138 of the 151 other emerging-market share funds charge more, 4 the same and 9 less (share classes counted once).

**What does HMEF track?**

HMEF tracks the MSCI Emerging Markets Index - USD — companies in emerging economies such as China, India, Taiwan and Brazil.

**Is HMEF accumulating or distributing?**

HMEF 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 HMEF?**

The ISIN of HMEF is IE00B5SSQT16. An ISIN identifies one exact share class of a fund; HMEF is its ticker on the London Stock Exchange. The same share class is also listed as HMEM (London Stock Exchange, US dollars) and H410 (Xetra, euros).

**What does HMEF hold?**

As of 06/11/2026, HMEF holds 1,171 positions, according to its published holdings. The largest is TSMC at 14.74% of the fund; the ten largest make up 35.0%. Its ten largest holdings are TSMC (14.74%), Samsung Electronics (5.97%), SK hynix (4.23%), Tencent (3.01%), Alibaba Group (2.06%), MediaTek (1.38%), China Construction Bank · Class H (1.04%), HDFC Bank (0.88%), ICICI Bank (0.82%) and Samsung Electronics (0.82%).

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

Calendar-year returns of HMEF in pounds (price only, income paid out not included): 2022 −12.6%, 2023 −0.2%, 2024 +7.8%, 2025 +22.4%; 2026 to 13/11/2026 +9.5%. Past performance is not a guide to future returns.

**How has HMEF done after inflation?**

Over the five years to 13/11/2026 HMEF’s total return was +39.9%, or +9.2% 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/ie00b5ssqt16)
- [Key investor information document (KIID)](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie00b5ssqt16/gb/en/kiid)
- [Factsheet](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie00b5ssqt16/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.