HBKU.L vs. HMUD.L
HBKU.L (HSBC Global Sukuk UCITS ETF USD (Acc)) and HMUD.L (HSBC MSCI USA UCITS ETF) are both exchange-traded funds - HBKU.L is a Global Sukuk fund tracking the FTSE IdealRatings Sukuk Index, while HMUD.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD. Both are passively managed. Over the past year, HBKU.L returned 3.88% vs 20.19% for HMUD.L. At a 0.19 correlation, their price movements are largely independent. HBKU.L charges 0.37%/yr vs 0.30%/yr for HMUD.L.
Performance
HBKU.L vs. HMUD.L - Performance Comparison
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Returns By Period
HBKU.L
- 1D
- 0.09%
- 1M
- -0.35%
- 6M
- 0.17%
- YTD
- 0.00%
- 1Y
- 3.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HMUD.L
- 1D
- 0.16%
- 1M
- 0.65%
- 6M
- 8.17%
- YTD
- 10.05%
- 1Y
- 20.19%
- 3Y*
- 18.77%
- 5Y*
- 11.64%
- 10Y*
- 14.42%
HBKU.L vs. HMUD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HBKU.L HSBC Global Sukuk UCITS ETF USD (Acc) | 0.00% | 7.38% | 2.88% | 4.00% |
HMUD.L HSBC MSCI USA UCITS ETF | 10.05% | 13.89% | 25.05% | 7.64% |
Correlation
The correlation between HBKU.L and HMUD.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2023 | 0.19 |
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Return for Risk
HBKU.L vs. HMUD.L — Risk / Return Rank
HBKU.L
HMUD.L
HBKU.L vs. HMUD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Global Sukuk UCITS ETF USD (Acc) (HBKU.L) and HSBC MSCI USA UCITS ETF (HMUD.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.
| HBKU.L | HMUD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.32 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 2.46 | -1.33 |
| Martin ratioReturn relative to average drawdown | 3.50 | 10.77 | -7.27 |
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Drawdowns
HBKU.L vs. HMUD.L - Drawdown Comparison
The maximum HBKU.L drawdown since its inception was -3.43%, smaller than the maximum HMUD.L drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for HBKU.L and HMUD.L.
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Drawdown Indicators
| HBKU.L | HMUD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.43% | -34.31% | +30.88% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -8.29% | +4.86% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.48% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.49% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.31% | — |
Current DrawdownCurrent decline from peak | -1.37% | -0.31% | -1.06% |
Average DrawdownAverage peak-to-trough decline | -0.75% | -3.94% | +3.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 1.89% | -0.78% |
Volatility
HBKU.L vs. HMUD.L - Volatility Comparison
The current volatility for HSBC Global Sukuk UCITS ETF USD (Acc) (HBKU.L) is 0.75%, while HSBC MSCI USA UCITS ETF (HMUD.L) has a volatility of 3.46%. This indicates that HBKU.L experiences smaller price fluctuations and is considered to be less risky than HMUD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBKU.L | HMUD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 3.46% | -2.71% |
Volatility (6M)Calculated over the trailing 6-month period | 3.62% | 8.83% | -5.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 11.48% | -7.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.62% | 16.18% | -12.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.62% | 16.29% | -12.67% |
HBKU.L vs. HMUD.L - Expense Ratio Comparison
HBKU.L has a 0.37% expense ratio, which is higher than HMUD.L's 0.30% expense ratio.
Dividends
HBKU.L vs. HMUD.L - Dividend Comparison
HBKU.L has not paid dividends to shareholders, while HMUD.L's dividend yield for the trailing twelve months is around 0.90%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBKU.L HSBC Global Sukuk UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HMUD.L HSBC MSCI USA UCITS ETF | 0.90% | 0.95% | 0.82% | 0.97% | 1.07% | 0.78% | 1.11% | 1.22% | 1.45% | 1.24% | 1.43% | 1.43% |
Frequently Asked Questions
HBKU.L and HMUD.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HMUD.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HMUD.L is cheaper with a 0.30% expense ratio, compared with 0.37% for HBKU.L.
HBKU.L is categorized as Global Sukuk, while HMUD.L is Large Cap Blend Equities. HBKU.L tracks FTSE IdealRatings Sukuk Index, while HMUD.L tracks Russell 1000 TR USD. Their fees differ too: 0.37% for HBKU.L and 0.30% for HMUD.L.
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