HCAN.L vs. HUKX.L
HCAN.L (HSBC MSCI Canada UCITS ETF) and HUKX.L (HSBC FTSE 100 UCITS ETF GBP) are both exchange-traded funds - HCAN.L is a Global Equities fund tracking the HSBC MSCI Canada UCITS ETF, while HUKX.L is a Europe Equities fund tracking the FTSE AllSh TR GBP. Both are passively managed. Over the past 10 years, HCAN.L returned 10.39%/yr vs 8.55%/yr for HUKX.L. A 0.71 correlation means they provide meaningful diversification when combined. HCAN.L charges 0.35%/yr vs 0.07%/yr for HUKX.L.
Performance
HCAN.L vs. HUKX.L - Performance Comparison
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Returns By Period
In the year-to-date period, HCAN.L achieves a 9.55% return, which is significantly higher than HUKX.L's 7.20% return. Over the past 10 years, HCAN.L has outperformed HUKX.L with an annualized return of 10.39%, while HUKX.L has yielded a comparatively lower 8.55% annualized return.
HCAN.L
- 1D
- -0.17%
- 1M
- 0.23%
- 6M
- 7.92%
- YTD
- 9.55%
- 1Y
- 29.38%
- 3Y*
- 20.05%
- 5Y*
- 12.91%
- 10Y*
- 10.39%
HUKX.L
- 1D
- -0.19%
- 1M
- 0.75%
- 6M
- 4.49%
- YTD
- 7.20%
- 1Y
- 20.66%
- 3Y*
- 16.02%
- 5Y*
- 12.33%
- 10Y*
- 8.55%
HCAN.L vs. HUKX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HCAN.L HSBC MSCI Canada UCITS ETF | 9.55% | 27.77% | 13.87% | 8.86% | -1.98% | 25.93% | 2.24% | 21.12% | -14.36% | 4.17% |
HUKX.L HSBC FTSE 100 UCITS ETF GBP | 7.20% | 26.20% | 9.58% | 7.36% | 5.07% | 17.54% | -11.64% | 17.42% | -8.67% | 12.39% |
Correlation
The correlation between HCAN.L 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 | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2011 | 0.71 |
Over the past year, the correlation between HCAN.L and HUKX.L has dropped to 0.49 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.
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Return for Risk
HCAN.L vs. HUKX.L — Risk / Return Rank
HCAN.L
HUKX.L
HCAN.L vs. HUKX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Canada UCITS ETF (HCAN.L) 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.
| HCAN.L | HUKX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.35 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 4.22 | 2.34 | +1.88 |
| Martin ratioReturn relative to average drawdown | 16.91 | 7.55 | +9.36 |
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Drawdowns
HCAN.L vs. HUKX.L - Drawdown Comparison
The maximum HCAN.L drawdown since its inception was -34.05%, roughly equal to the maximum HUKX.L drawdown of -34.22%. Use the drawdown chart below to compare losses from any high point for HCAN.L and HUKX.L.
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Drawdown Indicators
| HCAN.L | HUKX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.05% | -34.22% | +0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -8.78% | +1.67% |
Max Drawdown (3Y)Largest decline over 3 years | -14.21% | -12.95% | -1.26% |
Max Drawdown (5Y)Largest decline over 5 years | -14.21% | -12.95% | -1.26% |
Max Drawdown (10Y)Largest decline over 10 years | -33.72% | -34.22% | +0.50% |
Current DrawdownCurrent decline from peak | -0.73% | -2.52% | +1.79% |
Average DrawdownAverage peak-to-trough decline | -7.37% | -4.36% | -3.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 2.73% | -0.95% |
Volatility
HCAN.L vs. HUKX.L - Volatility Comparison
HSBC MSCI Canada UCITS ETF (HCAN.L) has a higher volatility of 3.25% compared to HSBC FTSE 100 UCITS ETF GBP (HUKX.L) at 3.03%. This indicates that HCAN.L's price experiences larger fluctuations and is considered to be riskier 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
| HCAN.L | HUKX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.25% | 3.03% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 8.04% | 9.72% | -1.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.28% | 11.22% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.26% | 12.63% | +1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.98% | 14.77% | +1.21% |
HCAN.L vs. HUKX.L - Expense Ratio Comparison
HCAN.L has a 0.35% expense ratio, which is higher than HUKX.L's 0.07% expense ratio.
Dividends
HCAN.L vs. HUKX.L - Dividend Comparison
HCAN.L's dividend yield for the trailing twelve months is around 1.39%, less than HUKX.L's 2.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HCAN.L HSBC MSCI Canada UCITS ETF | 1.39% | 1.55% | 1.97% | 2.14% | 1.90% | 1.53% | 1.93% | 1.04% | 0.00% | 0.81% | 1.60% | 2.17% |
HUKX.L HSBC FTSE 100 UCITS ETF GBP | 2.81% | 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
HCAN.L 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.
On fees, HUKX.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HUKX.L is cheaper with a 0.07% expense ratio, compared with 0.35% for HCAN.L.
HCAN.L is categorized as Global Equities, while HUKX.L is Europe Equities. HCAN.L tracks HSBC MSCI Canada UCITS ETF, while HUKX.L tracks FTSE AllSh TR GBP. Their fees differ too: 0.35% for HCAN.L and 0.07% for HUKX.L.
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