BTC-USD vs. HSTE.L

Last updated Jun 14, 2026

BTC-USD (Bitcoin) is a cryptocurrency, while HSTE.L (HSBC Hang Seng Tech UCITS ETF) is Technology Equities fund tracking the MSCI World/Information Tech NR USD. Over the past 5 years, BTC-USD returned 9.74%/yr vs -9.96%/yr for HSTE.L. At a 0.15 correlation, their price movements are largely independent.

Performance

BTC-USD vs. HSTE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitcoin (BTC-USD) 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, BTC-USD achieves a -26.27% return, which is significantly lower than HSTE.L's -15.63% return.

BTC-USD

• 1D: 1.71%
• 1M: -20.43%
• YTD: -26.27%
• 6M: -28.52%
• 1Y: -39.20%
• 3Y*: 36.94%
• 5Y*: 9.74%
• 10Y*: 57.23%

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)

BTC-USD vs. HSTE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BTC-USD Bitcoin	-26.27%	-6.27%	120.76%	155.82%	-64.23%	59.40%	58.28%
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 BTC-USD and HSTE.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Dec 9, 2020	0.15

Return for Risk

BTC-USD vs. HSTE.L — Risk / Return Rank

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

BTC-USD

BTC-USD Risk / Return Rank: 34
BTC-USD Sharpe Ratio Rank: 19
BTC-USD Sortino Ratio Rank: 37
BTC-USD Omega Ratio Rank: 35
BTC-USD Calmar Ratio Rank: 51
BTC-USD Martin Ratio Rank: 30

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.

BTC-USD vs. HSTE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) 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.

	BTC-USD	HSTE.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.92	-0.44	-0.47
Sortino ratio: Return per unit of downside risk	-1.27	-0.47	-0.80
Omega ratio: Gain probability vs. loss probability	0.87	0.95	-0.08
Calmar ratio: Return relative to maximum drawdown	-0.77	-0.39	-0.37
Martin ratio: Return relative to average drawdown	-1.33	-0.71	-0.62

BTC-USD vs. HSTE.L - Sharpe Ratio Comparison

The current BTC-USD Sharpe Ratio is -0.92, which is lower than the HSTE.L Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of BTC-USD 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

BTC-USD vs. HSTE.L - Drawdown Comparison

The maximum BTC-USD drawdown since its inception was -85.30%, smaller than the maximum HSTE.L drawdown of -95.65%. Use the drawdown chart below to compare losses from any high point for BTC-USD and HSTE.L.

Drawdown Indicators

	BTC-USD	HSTE.L	Difference
Max Drawdown Largest peak-to-trough decline	-85.30%	-95.65%	+10.35%
Max Drawdown (1Y) Largest decline over 1 year	-51.21%	-31.01%	-20.20%
Max Drawdown (3Y) Largest decline over 3 years	-51.21%	-34.96%	-16.25%
Max Drawdown (5Y) Largest decline over 5 years	-76.67%	-67.13%	-9.54%
Max Drawdown (10Y) Largest decline over 10 years	-83.80%	—	—
Current Drawdown Current decline from peak	-48.27%	-92.51%	+44.24%
Average Drawdown Average peak-to-trough decline	-42.36%	-91.79%	+49.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.16%	17.20%	+17.96%

Volatility

BTC-USD vs. HSTE.L - Volatility Comparison

Bitcoin (BTC-USD) has a higher volatility of 11.97% compared to HSBC Hang Seng Tech UCITS ETF (HSTE.L) at 9.98%. This indicates that BTC-USD's price experiences larger fluctuations and is considered to be riskier than HSTE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTC-USD	HSTE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.97%	9.98%	+1.99%
Volatility (6M) Calculated over the trailing 6-month period	34.64%	20.46%	+14.18%
Volatility (1Y) Calculated over the trailing 1-year period	35.59%	27.54%	+8.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.57%	39.39%	+5.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.61%	53.79%	+2.82%

Frequently Asked Questions

Can I hold both BTC-USD and HSTE.L in my portfolio?

BTC-USD and HSTE.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.