An amazing feature of HMP.A is that, without any configuration, it can work well with Sandboxie.
Regarding MBAE, Umbra has given a guide on how to configure it to make it work with Sandboxie, but it is too complicated for me to understand...
In addition, HMP.A also provides some other interesting features including Camera Protection/Keystroke Encryption/CrytoGuard/etc...
So in my opinion, MBAE is a pure anti-exploit program, while HMP.A is an anti-exploit + anti-spyware + anti-ransomeware + cloud-based on-demand scanner (Kaspersky + Bitdefender, two powerful engine!) + many other interesting security products
I remember that Fabian Wosar has ever mentioned in the official forum that Emsisoft does not have the capability of anti-exploit. This is because the developers hope Emsisoft Anti-Malware can have a good compatibility with other security products. They prefer to deal with the "payload" (I guess it refers to the malware).
So I guess there will be no overlapping between the functions of EIS and HMP.A that can cause incompatibility issues.