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CSPX.AS vs. HUKX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CSPX.AS vs. HUKX.L

Last updated Jun 13, 2026

CSPX.AS (iShares Core S&P 500 UCITS ETF) and HUKX.L (HSBC FTSE 100 UCITS ETF GBP) are both exchange-traded funds - CSPX.AS is a S&P 500 fund tracking the S&P 500 Index, while HUKX.L is a Europe Equities fund tracking the FTSE AllSh TR GBP. Both are passively managed. Over the past 10 years, CSPX.AS returned 14.86%/yr vs 8.90%/yr for HUKX.L. A 0.59 correlation means they provide meaningful diversification when combined. Both charge a 0.07% expense ratio.

Performance

CSPX.AS vs. HUKX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Core S&P 500 UCITS ETF (CSPX.AS) and HSBC FTSE 100 UCITS ETF GBP (HUKX.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

CSPX.AS is traded in EUR, while HUKX.L is traded in GBp. To make them comparable, the HUKX.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, CSPX.AS achieves a 9.99% return, which is significantly higher than HUKX.L's 7.90% return. Over the past 10 years, CSPX.AS has outperformed HUKX.L with an annualized return of 14.86%, while HUKX.L has yielded a comparatively lower 8.90% annualized return.

CSPX.AS

1D
1.55%
1M
0.02%
YTD
9.99%
6M
11.11%
1Y
24.76%
3Y*
17.93%
5Y*
14.23%
10Y*
14.86%

HUKX.L

1D
1.39%
1M
1.72%
YTD
7.90%
6M
11.83%
1Y
19.93%
3Y*
14.81%
5Y*
11.73%
10Y*
8.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CSPX.AS vs. HUKX.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CSPX.AS
iShares Core S&P 500 UCITS ETF		9.99%4.00%33.87%22.28%-14.24%40.26%7.72%32.99%-0.36%7.13%
HUKX.L
HSBC FTSE 100 UCITS ETF GBP		7.90%19.61%14.87%9.63%-0.34%25.19%-16.44%24.89%-9.79%7.96%

Correlation

The correlation between CSPX.AS and HUKX.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (3Y)
Calculated over the trailing 3-year period

0.48

Correlation (5Y)
Calculated over the trailing 5-year period

0.53

Correlation (10Y)
Calculated over the trailing 10-year period

0.59

Correlation (All Time)
Calculated using the full available price history since May 19, 2010

0.59

The correlation between CSPX.AS and HUKX.L shifts across timeframes, from 0.48 (3 years) to 0.59 (10 years), reflecting how their relationship changes across market environments.

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iShares Core S&P 500 UCITS ETF

HSBC FTSE 100 UCITS ETF GBP

Often compared with CSPX.AS:
CSPX.AS vs. CSPX.LCSPX.AS vs. VUSA.LCSPX.AS vs. VOOCSPX.AS vs. SPYCSPX.AS vs. CNDX.ASCSPX.AS vs. VUSD.LCSPX.AS vs. SPYL.DE
Often compared with HUKX.L:
HUKX.L vs. ISF.LHUKX.L vs. VUKG.LHUKX.L vs. VFWAXHUKX.L vs. EUDVHUKX.L vs. LDUK.LHUKX.L vs. HSPD.LHUKX.L vs. LDEG.L

Return for Risk

CSPX.AS vs. HUKX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CSPX.AS
CSPX.AS Risk / Return Rank: 7575
Overall Rank
CSPX.AS Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
CSPX.AS Sortino Ratio Rank: 7474
Sortino Ratio Rank
CSPX.AS Omega Ratio Rank: 7777
Omega Ratio Rank
CSPX.AS Calmar Ratio Rank: 7676
Calmar Ratio Rank
CSPX.AS Martin Ratio Rank: 7474
Martin Ratio Rank
HUKX.L
HUKX.L Risk / Return Rank: 6262
Overall Rank
HUKX.L Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
HUKX.L Sortino Ratio Rank: 6767
Sortino Ratio Rank
HUKX.L Omega Ratio Rank: 6868
Omega Ratio Rank
HUKX.L Calmar Ratio Rank: 5454
Calmar Ratio Rank
HUKX.L Martin Ratio Rank: 5252
Martin Ratio Rank
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.

CSPX.AS vs. HUKX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 UCITS ETF (CSPX.AS) and HSBC FTSE 100 UCITS ETF GBP (HUKX.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.

CSPX.ASHUKX.LDifference
Sharpe ratioReturn per unit of total volatility
2.10
1.61

+0.49

Sortino ratioReturn per unit of downside risk
2.87
2.29

+0.58

Omega ratioGain probability vs. loss probability

1.39

1.30

+0.09

Calmar ratioReturn relative to maximum drawdown

3.40

2.48

+0.92

Martin ratioReturn relative to average drawdown

12.02

8.98

+3.04

CSPX.AS vs. HUKX.L - Sharpe Ratio Comparison

The current CSPX.AS Sharpe Ratio is 2.10, which is higher than the HUKX.L Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of CSPX.AS and HUKX.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.

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Drawdowns

CSPX.AS vs. HUKX.L - Drawdown Comparison

The maximum CSPX.AS drawdown since its inception was -33.65%, smaller than the maximum HUKX.L drawdown of -39.79%. Use the drawdown chart below to compare losses from any high point for CSPX.AS and HUKX.L.

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Drawdown Indicators

CSPX.ASHUKX.LDifference

Max Drawdown

Largest peak-to-trough decline

-33.65%

-39.79%

+6.14%

Max Drawdown (1Y)

Largest decline over 1 year

-7.11%

-7.75%

+0.64%

Max Drawdown (3Y)

Largest decline over 3 years

-23.37%

-15.94%

-7.43%

Max Drawdown (5Y)

Largest decline over 5 years

-23.37%

-15.94%

-7.43%

Max Drawdown (10Y)

Largest decline over 10 years

-33.65%

-39.79%

+6.14%

Current Drawdown

Current decline from peak

-1.76%

-1.42%

-0.34%

Average Drawdown

Average peak-to-trough decline

-3.74%

-5.89%

+2.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.02%

2.14%

-0.12%

Volatility

CSPX.AS vs. HUKX.L - Volatility Comparison

The current volatility for iShares Core S&P 500 UCITS ETF (CSPX.AS) is 3.07%, while HSBC FTSE 100 UCITS ETF GBP (HUKX.L) has a volatility of 3.83%. This indicates that CSPX.AS experiences smaller price fluctuations and is considered to be less risky than HUKX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CSPX.ASHUKX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.07%

3.83%

-0.76%

Volatility (6M)

Calculated over the trailing 6-month period

7.76%

10.05%

-2.29%

Volatility (1Y)

Calculated over the trailing 1-year period

11.53%

11.92%

-0.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.18%

13.91%

+1.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.07%

16.65%

-0.58%

CSPX.AS vs. HUKX.L - Expense Ratio Comparison

Both CSPX.AS and HUKX.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

CSPX.AS vs. HUKX.L - Dividend Comparison

CSPX.AS has not paid dividends to shareholders, while HUKX.L's dividend yield for the trailing twelve months is around 2.83%.

PositionTTM20252024202320222021202020192018201720162015
CSPX.AS
iShares Core S&P 500 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%
HUKX.L
HSBC FTSE 100 UCITS ETF GBP		2.83%2.95%3.74%3.50%3.63%3.19%4.04%4.31%4.35%3.79%3.49%3.79%

Frequently Asked Questions

CSPX.AS and HUKX.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

CSPX.AS and HUKX.L have the same expense ratio: 0.07% per year.

CSPX.AS is categorized as S&P 500, while HUKX.L is Europe Equities. CSPX.AS tracks S&P 500 Index, while HUKX.L tracks FTSE AllSh TR GBP. They also come from different issuers: iShares and HSBC.

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