# HSBC Plus Emerging Mrkts Equity Income Quant Active UCITS ETF (HQES) **Page:** https://fundology.uk/fund/hqes · ISIN IE000UERNJ93 ## 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, HQES (HSBC Plus Emerging Mrkts Equity Income Quant Active UCITS ETF, ISIN IE000UERNJ93) closed at £9.35 on the London Stock Exchange. Its ongoing charge is 0.37% a year (about £37 on £10,000). Over the year to 13/11/2026 its total return was +16.8%, or +12.6% after UK CPIH inflation. ## Summary HSBC Plus Emerging Mrkts Equity Income Quant Active UCITS ETF is an exchange-traded fund (ETF) from HSBC, launched in 2025. It tracks the No Underlying Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.37% a year — about £37 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: **£9.35** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | HQES | | ISIN | IE000UERNJ93 | | Also listed as | HQEM (London Stock Exchange, US dollars), H414 (Xetra, euros) | | Category | Dividend & income | | Type | ETF | | Provider | HSBC | | Income | Accumulating | | Ongoing charge | 0.37% a year (£37 per £10,000) | | Fund size | £98.9m | | Launched | 2025 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 05/03/2025 | ## 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 | +16.77% | +12.63% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of HSBC Plus Emerging Mrkts Equity Income Quant Active UCITS ETF in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +12.0%. Returns of HSBC Plus Emerging Mrkts Equity Income Quant Active UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +29.1%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2026 to 13/11/2026 | +12.0% | +8.4% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 20.03% | -16.72% | ## Largest fall Volatility of HSBC Plus Emerging Mrkts Equity Income Quant Active UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 20.0% over 1 year. Largest fall in the price of HSBC Plus Emerging Mrkts Equity Income Quant Active UCITS ETF since August 2025, in pounds: −16.7% from 19/06/2026 to 06/11/2026. On 13/11/2026 the price of HSBC Plus Emerging Mrkts Equity Income Quant Active UCITS ETF was 14.7% below its highest weekly close since August 2025 (19/06/2026), in pounds. ## Charges compared with similar funds Ongoing charge of HSBC Plus Emerging Mrkts Equity Income Quant Active UCITS ETF 0.37% a year. Compared on 14/11/2026, 54 of the 109 other dividend and income funds charge more, 0 the same and 55 less (share classes counted once). ## Charges & eligibility - Ongoing charges figure (OCF): **0.37%** per year (as of 13/11/2026) - 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, HQES holds 402 positions, according to its published holdings. The largest is TSMC at 8.91% of the fund; the ten largest make up 31.1%. ### 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) | 8.91% | | 2 | Samsung Electronics | [005930](https://fundology.uk/stock/005930) | 6.26% | | 3 | SK hynix | [000660](https://fundology.uk/stock/000660) | 4.71% | | 4 | Tencent | [700](https://fundology.uk/stock/700) | 3.03% | | 5 | Alibaba Group | [BABA](https://fundology.uk/stock/BABA) | 1.83% | | 6 | MediaTek | [2454](https://fundology.uk/stock/2454) | 1.58% | | 7 | HDFC Bank | [HDFCBANK](https://fundology.uk/stock/HDFCBANK) | 1.37% | | 8 | Hon Hai Precision Industry | [2317](https://fundology.uk/stock/2317) | 1.19% | | 9 | ICICI Bank | [ICICIBANK](https://fundology.uk/stock/ICICIBANK) | 1.17% | | 10 | Samsung Electronics | [005930](https://fundology.uk/stock/005930) | 1.02% | ## 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 | 26.3% | | China | 19.5% | | South Korea | 19.3% | | India | 12.4% | | Brazil | 4.1% | | Saudi Arabia | 2.4% | | South Africa | 2.4% | | Malaysia | 2.0% | | Other countries | 11.1% | | Not classified | 0.4% | The 395 holdings on record (of 402 reported): https://fundology.uk/fund/hqes/holdings ## Questions people ask **What is the ongoing charge of HQES?** The ongoing charge of HQES is 0.37% a year — about £37 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 Plus Emerging Mrkts Equity Income Quant Active UCITS ETF 0.37% a year. Compared on 14/11/2026, 54 of the 109 other dividend and income funds charge more, 0 the same and 55 less (share classes counted once). **Is HQES accumulating or distributing?** HQES 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 HQES?** The ISIN of HQES is IE000UERNJ93. An ISIN identifies one exact share class of a fund; HQES is its ticker on the London Stock Exchange. The same share class is also listed as HQEM (London Stock Exchange, US dollars) and H414 (Xetra, euros). **What does HQES hold?** As of 06/11/2026, HQES holds 402 positions, according to its published holdings. The largest is TSMC at 8.91% of the fund; the ten largest make up 31.1%. Its ten largest holdings are TSMC (8.91%), Samsung Electronics (6.26%), SK hynix (4.71%), Tencent (3.03%), Alibaba Group (1.83%), MediaTek (1.58%), HDFC Bank (1.37%), Hon Hai Precision Industry (1.19%), ICICI Bank (1.17%) and Samsung Electronics (1.02%). **What were HQES’s returns in each of the last five years?** Calendar-year returns of HQES in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +12.0%. Past performance is not a guide to future returns. **How has HQES done after inflation?** Over the year to 13/11/2026 HQES’s total return was +16.8%, or +12.6% 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/ie000uernj93) - [Key investor information document (KIID)](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie000uernj93/gb/en/kiid) - [Factsheet](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie000uernj93/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.