Analyse: HSBC MSCI Emerging Markets ETF

Dieser ETF bietet Anleger Zugang zu den wichtigsten Schwellenländer-Aktien. HSBC wendet das Sampling-Verfahren bei der Replikation an.

Alastair Kellett 21.10.2012

Rolle im Portfolio

The HSBC MSCI Emerging Markets ETF provides exposure to a wide array of mid- and large-cap companies within the world’s emerging regions. This broad category of countries has seen its importance on the global stage rise dramatically in recent years. Whereas this type of exposure would once have been considered only as a speculative tactical tool, it is increasingly becoming a core component of a globally balanced portfolio. That said, this can be a volatile area of the market. The MSCI Emerging Markets Index has had annual standard deviation of almost 20% for the past 10 years. Its correlation to other equity exposures does suggest some benefit as a diversifier. Over the same period it has shown correlation to the local-currency returns of the S&P 500, the MSCI Europe, and the broader MSCI World Index of 77%, 78%, and 83%, respectively. Some of that benefit, however, has shrunk in recent years. The corresponding five-year correlations are 84%, 86%, and 88%. The fund passes along dividends from underlying securities in a quarterly distribution. At the end of June it had a trailing annual distribution yield of 1.73%. So this fund might suit an investor seeking a modest amount of income, although the tax implications of such distributions for each investor would have to be taken into consideration.

Fundamentale Analyse

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Über den Autor

Alastair Kellett  Al Kellett is an ETF analyst with Morningstar Europe.

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