ACWI vs. HSTE.L

Last updated Jun 14, 2026

ACWI (iShares MSCI ACWI ETF) and HSTE.L (HSBC Hang Seng Tech UCITS ETF) are both exchange-traded funds - ACWI is a Global Equities fund tracking the MSCI All Country World Index, while HSTE.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 5 years, ACWI returned 10.88%/yr vs -9.96%/yr for HSTE.L. At a 0.38 correlation, their price movements are largely independent. ACWI charges 0.32%/yr vs 0.50%/yr for HSTE.L.

Performance

ACWI vs. HSTE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI ACWI ETF (ACWI) and HSBC Hang Seng Tech UCITS ETF (HSTE.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACWI achieves a 10.59% return, which is significantly higher than HSTE.L's -15.63% return.

ACWI

• 1D: 0.41%
• 1M: -0.11%
• YTD: 10.59%
• 6M: 11.34%
• 1Y: 26.86%
• 3Y*: 19.78%
• 5Y*: 10.88%
• 10Y*: 13.02%

HSTE.L

• 1D: 1.56%
• 1M: -7.38%
• YTD: -15.63%
• 6M: -15.96%
• 1Y: -10.18%
• 3Y*: 5.51%
• 5Y*: -9.96%
• 10Y*: —

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

ACWI vs. HSTE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ACWI iShares MSCI ACWI ETF	10.59%	22.41%	17.45%	22.27%	-18.39%	18.66%	1.83%
HSTE.L HSBC Hang Seng Tech UCITS ETF	-15.63%	24.64%	19.65%	-8.46%	-27.99%	-32.88%	-86.54%

Correlation

The correlation between ACWI and HSTE.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Dec 9, 2020	0.38

ACWI vs. HSTE.L - Sectors Allocation Comparison

Sectors	ACWI	HSTE.L
Technology	32.2%	31.6%
Financial Services	15.6%	-
Industrials	10.2%	-
Consumer Cyclical	8.7%	41.0%
Communication Services	8.2%	25.5%
Healthcare	8.1%	1.9%
Consumer Defensive	4.7%	-
Energy	3.9%	-
Basic Materials	3.6%	-
Utilities	2.7%	-
Real Estate	1.6%	-

Return for Risk

ACWI vs. HSTE.L — Risk / Return Rank

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

ACWI

ACWI Risk / Return Rank: 67
ACWI Sharpe Ratio Rank: 67
ACWI Sortino Ratio Rank: 66
ACWI Omega Ratio Rank: 67
ACWI Calmar Ratio Rank: 61
ACWI Martin Ratio Rank: 71

HSTE.L

HSTE.L Risk / Return Rank: 6
HSTE.L Sharpe Ratio Rank: 6
HSTE.L Sortino Ratio Rank: 6
HSTE.L Omega Ratio Rank: 6
HSTE.L Calmar Ratio Rank: 6
HSTE.L Martin Ratio Rank: 6

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.

ACWI vs. HSTE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI ETF (ACWI) and HSBC Hang Seng Tech UCITS ETF (HSTE.L). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ACWI	HSTE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.90	-0.44	+2.34
Sortino ratio: Return per unit of downside risk	2.62	-0.47	+3.09
Omega ratio: Gain probability vs. loss probability	1.35	0.95	+0.40
Calmar ratio: Return relative to maximum drawdown	2.62	-0.39	+3.02
Martin ratio: Return relative to average drawdown	11.46	-0.71	+12.17

ACWI vs. HSTE.L - Sharpe Ratio Comparison

The current ACWI Sharpe Ratio is 1.90, which is higher than the HSTE.L Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of ACWI and HSTE.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ACWI vs. HSTE.L - Drawdown Comparison

The maximum ACWI drawdown since its inception was -56.00%, smaller than the maximum HSTE.L drawdown of -95.65%. Use the drawdown chart below to compare losses from any high point for ACWI and HSTE.L.

Drawdown Indicators

	ACWI	HSTE.L	Difference
Max Drawdown Largest peak-to-trough decline	-56.00%	-95.65%	+39.65%
Max Drawdown (1Y) Largest decline over 1 year	-9.73%	-31.01%	+21.28%
Max Drawdown (3Y) Largest decline over 3 years	-16.55%	-34.96%	+18.41%
Max Drawdown (5Y) Largest decline over 5 years	-26.42%	-67.13%	+40.71%
Max Drawdown (10Y) Largest decline over 10 years	-33.53%	—	—
Current Drawdown Current decline from peak	-2.19%	-92.51%	+90.32%
Average Drawdown Average peak-to-trough decline	-8.60%	-91.79%	+83.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	17.20%	-14.98%

Volatility

ACWI vs. HSTE.L - Volatility Comparison

The current volatility for iShares MSCI ACWI ETF (ACWI) is 5.17%, while HSBC Hang Seng Tech UCITS ETF (HSTE.L) has a volatility of 9.98%. This indicates that ACWI experiences smaller price fluctuations and is considered to be less risky than HSTE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWI	HSTE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.17%	9.98%	-4.81%
Volatility (6M) Calculated over the trailing 6-month period	11.09%	20.46%	-9.37%
Volatility (1Y) Calculated over the trailing 1-year period	13.42%	27.54%	-14.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.15%	39.39%	-23.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.14%	53.79%	-36.65%

ACWI vs. HSTE.L - Expense Ratio Comparison

ACWI has a 0.32% expense ratio, which is lower than HSTE.L's 0.50% expense ratio.

Dividends

ACWI vs. HSTE.L - Dividend Comparison

ACWI's dividend yield for the trailing twelve months is around 1.40%, while HSTE.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWI iShares MSCI ACWI ETF	1.40%	1.55%	1.70%	1.88%	1.79%	1.71%	1.43%	2.33%	2.18%	1.94%	2.19%	2.56%
HSTE.L HSBC Hang Seng Tech UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ACWI and HSTE.L in my portfolio?

ACWI and HSTE.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ACWI or HSTE.L?

On fees, ACWI is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACWI or HSTE.L?

ACWI is cheaper with a 0.32% expense ratio, compared with 0.50% for HSTE.L.

What is the main difference between ACWI and HSTE.L?

ACWI is categorized as Global Equities, while HSTE.L is Technology Equities. ACWI tracks MSCI All Country World Index, while HSTE.L tracks MSCI World/Information Tech NR USD. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.32% for ACWI and 0.50% for HSTE.L.