1398.HK vs. ^HSI

Last updated Apr 3, 2026

Compare and contrast key facts about Industrial and Commercial Bank of China (1398.HK) and Hang Seng Index (^HSI).

Performance

1398.HK vs. ^HSI - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in Industrial and Commercial Bank of China (1398.HK) and Hang Seng Index (^HSI). The values are adjusted to include any dividend payments, if applicable.

1398.HK vs. ^HSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
1398.HK Industrial and Commercial Bank of China	10.65%	31.06%	47.16%	3.30%	-1.37%	-6.20%	-11.59%	12.71%	-6.42%	42.50%
^HSI Hang Seng Index	-2.01%	27.77%	17.67%	-13.82%	-15.46%	-14.08%	-3.40%	9.07%	-13.61%	35.99%

Returns By Period

In the year-to-date period, 1398.HK achieves a 10.65% return, which is significantly higher than ^HSI's -2.01% return. Over the past 10 years, 1398.HK has outperformed ^HSI with an annualized return of 12.28%, while ^HSI has yielded a comparatively lower 2.05% annualized return.

1398.HK

• 1D: 1.16%
• 1M: 7.91%
• YTD: 10.65%
• 6M: 24.53%
• 1Y: 32.82%
• 3Y*: 29.19%
• 5Y*: 12.94%
• 10Y*: 12.28%

^HSI

• 1D: -0.70%
• 1M: -2.53%
• YTD: -2.01%
• 6M: -7.95%
• 1Y: 8.25%
• 3Y*: 7.16%
• 5Y*: -2.79%
• 10Y*: 2.05%

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

Return for Risk

1398.HK vs. ^HSI — Risk / Return Rank

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

1398.HK

1398.HK Risk / Return Rank: 82
1398.HK Sharpe Ratio Rank: 85
1398.HK Sortino Ratio Rank: 80
1398.HK Omega Ratio Rank: 81
1398.HK Calmar Ratio Rank: 83
1398.HK Martin Ratio Rank: 83

^HSI

^HSI Risk / Return Rank: 27
^HSI Sharpe Ratio Rank: 27
^HSI Sortino Ratio Rank: 25
^HSI Omega Ratio Rank: 25
^HSI Calmar Ratio Rank: 29
^HSI Martin Ratio Rank: 30

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.

1398.HK vs. ^HSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Industrial and Commercial Bank of China (1398.HK) and Hang Seng Index (^HSI). 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.

	1398.HK	^HSI	Difference
Sharpe ratio Return per unit of total volatility	1.67	0.37	+1.31
Sortino ratio Return per unit of downside risk	2.17	0.60	+1.58
Omega ratio Gain probability vs. loss probability	1.30	1.09	+0.21
Calmar ratio Return relative to maximum drawdown	2.94	0.48	+2.46
Martin ratio Return relative to average drawdown	7.51	1.55	+5.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

1398.HK vs. ^HSI - Sharpe Ratio Comparison

The current 1398.HK Sharpe Ratio is 1.67, which is higher than the ^HSI Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of 1398.HK and ^HSI, 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

	1398.HK	^HSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	0.37	+1.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	-0.11	+0.76
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.10	+0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.27	+0.06

Correlation

The correlation between 1398.HK and ^HSI is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

1398.HK vs. ^HSI - Drawdown Comparison

The maximum 1398.HK drawdown since its inception was -61.33%, smaller than the maximum ^HSI drawdown of -65.18%. Use the drawdown chart below to compare losses from any high point for 1398.HK and ^HSI.

Drawdown Indicators

	1398.HK	^HSI	Difference
Max Drawdown Largest peak-to-trough decline	-61.33%	-65.18%	+3.85%
Max Drawdown (1Y) Largest decline over 1 year	-10.69%	-13.22%	+2.53%
Max Drawdown (5Y) Largest decline over 5 years	-29.70%	-50.16%	+20.46%
Max Drawdown (10Y) Largest decline over 10 years	-38.50%	-55.70%	+17.20%
Current Drawdown Current decline from peak	0.00%	-24.24%	+24.24%
Average Drawdown Average peak-to-trough decline	-18.24%	-24.18%	+5.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.18%	4.90%	-0.72%

Volatility

1398.HK vs. ^HSI - Volatility Comparison

The current volatility for Industrial and Commercial Bank of China (1398.HK) is 6.10%, while Hang Seng Index (^HSI) has a volatility of 7.18%. This indicates that 1398.HK experiences smaller price fluctuations and is considered to be less risky than ^HSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	1398.HK	^HSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.10%	7.18%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	13.29%	14.23%	-0.94%
Volatility (1Y) Calculated over the trailing 1-year period	20.18%	23.12%	-2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.48%	25.25%	-4.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.58%	21.94%	-0.36%