^HSI vs. KTEC

Last updated Apr 1, 2026

Compare and contrast key facts about Hang Seng Index (^HSI) and KraneShares Hang Seng TECH Index ETF (KTEC).

KTEC is a passively managed fund by KraneShares that tracks the performance of the Hang Seng Tech Index. It was launched on Jun 8, 2021.

Performance

^HSI vs. KTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in Hang Seng Index (^HSI) and KraneShares Hang Seng TECH Index ETF (KTEC). The values are adjusted to include any dividend payments, if applicable.

^HSI vs. KTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
^HSI Hang Seng Index	-3.29%	27.77%	17.67%	-13.82%	-15.46%	-18.60%
KTEC KraneShares Hang Seng TECH Index ETF	-11.75%	21.24%	15.53%	-10.42%	-26.00%	-29.17%

Different Trading Currencies

^HSI is traded in HKD, while KTEC is traded in USD. To make them comparable, the KTEC values have been converted to HKD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ^HSI achieves a -3.29% return, which is significantly higher than KTEC's -14.22% return.

^HSI

• 1D: 0.15%
• 1M: -6.92%
• YTD: -3.29%
• 6M: -7.70%
• 1Y: 7.22%
• 3Y*: 6.71%
• 5Y*: -3.05%
• 10Y*: 1.92%

KTEC

• 1D: 0.00%
• 1M: -7.44%
• YTD: -14.22%
• 6M: -26.99%
• 1Y: -14.46%
• 3Y*: 1.83%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

^HSI vs. KTEC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^HSI

^HSI Risk / Return Rank: 29
^HSI Sharpe Ratio Rank: 31
^HSI Sortino Ratio Rank: 27
^HSI Omega Ratio Rank: 30
^HSI Calmar Ratio Rank: 27
^HSI Martin Ratio Rank: 28

KTEC

KTEC Risk / Return Rank: 5
KTEC Sharpe Ratio Rank: 5
KTEC Sortino Ratio Rank: 5
KTEC Omega Ratio Rank: 5
KTEC Calmar Ratio Rank: 5
KTEC Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^HSI vs. KTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hang Seng Index (^HSI) and KraneShares Hang Seng TECH Index ETF (KTEC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	^HSI	KTEC	Difference
Sharpe ratio Return per unit of total volatility	0.32	-0.47	+0.79
Sortino ratio Return per unit of downside risk	0.54	-0.49	+1.03
Omega ratio Gain probability vs. loss probability	1.08	0.94	+0.14
Calmar ratio Return relative to maximum drawdown	0.27	-0.49	+0.76
Martin ratio Return relative to average drawdown	0.92	-1.15	+2.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^HSI vs. KTEC - Sharpe Ratio Comparison

The current ^HSI Sharpe Ratio is 0.32, which is higher than the KTEC Sharpe Ratio of -0.47. The chart below compares the historical Sharpe Ratios of ^HSI and KTEC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	^HSI	KTEC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.32	-0.47	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.12	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	-0.26	+0.53

Correlation

The correlation between ^HSI and KTEC is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Drawdowns

^HSI vs. KTEC - Drawdown Comparison

The maximum ^HSI drawdown since its inception was -65.18%, roughly equal to the maximum KTEC drawdown of -66.53%. Use the drawdown chart below to compare losses from any high point for ^HSI and KTEC.

Drawdown Indicators

	^HSI	KTEC	Difference
Max Drawdown Largest peak-to-trough decline	-65.18%	-66.90%	+1.72%
Max Drawdown (1Y) Largest decline over 1 year	-14.56%	-29.36%	+14.80%
Max Drawdown (5Y) Largest decline over 5 years	-50.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-55.70%	—	—
Current Drawdown Current decline from peak	-25.23%	-44.71%	+19.48%
Average Drawdown Average peak-to-trough decline	-24.18%	-43.97%	+19.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.04%	12.39%	-7.35%

Volatility

^HSI vs. KTEC - Volatility Comparison

The current volatility for Hang Seng Index (^HSI) is 7.16%, while KraneShares Hang Seng TECH Index ETF (KTEC) has a volatility of 9.33%. This indicates that ^HSI experiences smaller price fluctuations and is considered to be less risky than KTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^HSI	KTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.16%	9.33%	-2.17%
Volatility (6M) Calculated over the trailing 6-month period	14.14%	19.66%	-5.52%
Volatility (1Y) Calculated over the trailing 1-year period	23.06%	30.98%	-7.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.25%	43.45%	-18.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.94%	43.45%	-21.51%