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HMXD
+0.78 · +4.94%
£16.66 · LSE
HSBC MSCI Pacific ex Japan UCITS ETF | Pacific ex-Japan Equity
HSBC Investment Funds (Luxembourg) S.A. · Ireland
AUM:$596.6M
#– of – in Pacific ex-Japan Equity ETFs
ℹ️
Reward Rating
67
Good
32.44% 1Y return
ℹ️
Risk Rating
60
Elevated
Risk Assessment
ℹ️

Educational tool only – Scores are based on historical data, holdings and expense metrics for informational purposes. This is not financial advice or a recommendation to buy or sell any security. Always conduct your own research or consult a qualified financial adviser.

Market Performance

📈 Up 32.4% over the past year, reflecting strong price momentum.

Cost Efficiency

💰 Ongoing charge of 0.15% — among the lowest available for this category.

What is HMXD?

HSBC MSCI Pacific ex Japan UCITS ETF tracks Morningstar Dev APAC xJpn TME NR USD, providing diversified exposure across 48 holdings. Its ongoing charge is 0.15%.

Performance Highlights

Investment Breakdown

Strong Recent Performance
HMXD delivered 32.4% over the past year. Historical returns only — past performance is not indicative of future results.
Competitive Ongoing Charge
Ongoing charge of 0.15% — reasonable for the index exposure provided.
Moderate Concentration
Top 10 holdings make up 47.4% of the ETF — a moderate level of name concentration.

Openbook Analysis

Performance: Good (67)

The scoring profile reflects moderate historical performance, with a 32.4% 1-year return (historical). The ongoing charge of 0.15% is reasonable for this exposure. Risk indicators are elevated — volatility warrants consideration (historical).

For informational and educational purposes only. Not financial advice. Past performance is not indicative of future results.

ETF Information
AUM$596.6M
Ongoing Charge0.15%
Dividend Yield3.10%
Holdings48
Inception DateSept 2010
DomicileIreland
DistributionHalf-yearly
IndexMorningstar Dev APAC xJpn TME NR USD
ProviderHSBC Investment Funds (Luxembourg) S.A.
Beta1.00
CategoryPacific ex-Japan Equity
CurrencyUSD
Portfolio Impact

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6168
+7 points · better diversified
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Uses ISF.L (iShares FTSE 100 ETF)
Indicators

Performance Metrics

Historical returns

6M
+10.8%
1Y
+16.6%
3Y
+47.0%
5Y
+25.2%
OpenBook InsightIf you had invested £10,000 in HMXD 5 years ago, it would have grown to £12,524 — a gain of £2,524.

Annual Returns

Calendar year performance

HMXD delivered positive returns in 4 of the last 5 calendar years.
YearHMXD
2026 YTD+7.8%
2025+18.2%
2024+6.3%
2023+6.5%
2022-7.5%
CAGR 4yr+5.5%
4/5 positive yearsAvg return: +6.3%Worst year: -7.5% (2022)

Technical Analysis Summary

Automated insights from historical price action and indicators

Technical Regime: MIXED
Trend Strength
100%
Positive
Volatility
15.2%
Low
Momentum
-0.9%
30-day change
Support Level
16.91
Key floor
Key Insights
  • Price is currently trading above all key moving averages.
  • Price is consolidating, with low momentum over the recent period.
  • Monitor key support and resistance levels as part of broader risk assessment.

Reward Rating Breakdown

Our reward rating analyses HMXD's attractiveness using 4 weighted factors. Each factor is scored 0-100, then combined using the weights shown below. Past performance does not guarantee future results.

Overall Reward Rating
67
Good REWARD
Data Coverage: %
Factor Framework
Performance
Has the ETF delivered strong historical returns versus similar ETFs?
Cost Efficiency
Is the ETF cheap to own over long periods?
Income
Does it provide attractive and consistent distributions?
Diversification Quality
Does it spread exposure across holdings, sectors, and regions?

📈 Performance

Weight: 30%
73/100

Has the ETF delivered strong historical returns versus similar ETFs? Combines 1/3/5/10-year returns with the Sharpe ratio (risk-adjusted return).

1Y Return
32.44%
Very Good
3Y Return
14.05%
Very Good
5Y Return
7.35%
Good
10Y Return
9.31%
Good
Sharpe Ratio
—
No Data

Strong historical performance profile: 1-year return of 32.44%, 3-year annualised 14.05%, 5-year annualised 7.35%. Past performance is not indicative of future results.

💰 Cost Efficiency

Weight: 30%
85/100

Is the ETF cheap to own over long periods? Low ongoing charges compound into meaningful additional returns over a 10-year horizon.

Ongoing Charge
0.15%
Good
Net Expense Ratio
0.00%
Very Good
Annual Turnover
0.17%
Very Good
Tracking Difference
—
No Data

Low-cost and efficient structure: ongoing charge of 0.15%, net expense ratio of 0.00%, annual turnover of 0.2%.

💵 Income

Weight: 15%
65/100

Does the ETF provide attractive and consistent distributions? Combines the current yield with distribution frequency.

Distribution Yield
3.10%
Neutral
Distribution Frequency
Half-yearly
No Data

Reasonable income characteristics: distribution yield of 3.10%, half-yearly distributions.

🌐 Diversification Quality

Weight: 25%
40/100

Does the ETF spread exposure across many holdings, sectors, and regions? Concentrated funds can be doing exactly what they're meant to do — treat the score as context, not a verdict.

Holdings
48
Very Weak
Top 10 Concentration
47.38%
Weak
Top Sector
Financial Services45.1%
Very Weak
Top Region
Australasia65.7%
Neutral

Concentrated but typical for its category: 48 holdings, top 10 at 47.4%, Financial Services sector at 45.1%, Australasia at 65.7%.

Scores are derived from fund-provider disclosures and historical data. For informational and educational purposes only — not investment advice. Past performance is not indicative of future results.

Risk Rating Breakdown

Our risk rating analyses HMXD using 4 weighted factors. A higher score indicates higher risk. This is a framework for understanding exposure — concentrated funds can still be doing exactly what they're meant to do.

Overall Risk Rating
60
Elevated RISK
Data Coverage: 92%
Factor Framework
Holdings Concentration
How much of the fund sits in its largest positions? Few dominant names mean returns ride on those companies.
Market Exposure
Geographic, sector and cyclical dependencies. High single-country or single-sector weight increases macro sensitivity.
Volatility
Historical price movement, beta and drawdowns — how sharply the fund moves relative to the market.
Income Reliability
How dependable the distribution yield is — cyclical-sector dependency and unusually high yields can flag payout risk.

🎯 Holdings Concentration

Weight: 25%
52/100

How much of the fund sits in a small number of positions? If the top holdings dominate, returns will be driven by those specific companies rather than the broader index.

Top 10 Weight
47.38%
Moderate
Largest Holding
9.00%
Moderate
Number of Holdings
48
Elevated
HHI (weight²)
275
Low Risk

Moderate holdings concentration: top 10 holdings at 47.4%, largest single position at 9.00%, 48 total holdings.

🌍 Market Exposure

Weight: 25%
81/100

How dependent is the fund on a single country, sector or economic cycle? Heavy exposure to one market means a single macro event can drive most of the return.

Top Region
Australasia65.7%
Moderate
Top Sector
Financial Services45.1%
High Risk
Top 2 Sectors
60.47%
High Risk
Cyclical Sectors
79.11%
High Risk

High market-exposure risk — returns closely track a narrow slice of the market: Australasia at 65.7%, Financial Services sector at 45.1%, 79.1% in cyclical sectors.

📊 Volatility

Weight: 35%
45/100

How sharply does the fund move day-to-day and how deep have its drawdowns been? High volatility means wider return outcomes over short horizons.

1Y Volatility
10.09%
Lower Risk
Beta
1.00
Moderate
Max Drawdown
—
No Data

Moderate volatility in line with broad market: 1Y volatility of 10.09%, beta of 1.00 (historical).

💵 Income Reliability

Weight: 15%
72/100

How dependable is the fund's distribution yield? Heavy cyclical-sector exposure or unusually high yields can flag vulnerability to dividend cuts in a downturn.

Current Yield
3.10%
Lower Risk
Cyclical Sector Exposure
79.11%
High Risk
Top-Sector Dependency
Financial Services45.1%
High Risk

Distributions appear cyclically sensitive — yield may be vulnerable to cuts in a downturn: yield of 3.10%, 79.1% in cyclical sectors (financials, energy, materials, industrials, real estate), Financial Services sector at 45.1%.

Scores are derived from fund-provider disclosures and historical data. For informational and educational purposes only — not investment advice. Risk scoring is model-based and past data does not guarantee future results.
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