HCAN.L vs. QUID.L

Last updated Jul 16, 2026

HCAN.L (HSBC MSCI Canada UCITS ETF) and QUID.L (PIMCO Sterling Short Maturity UCITS ETF) are both Global Equities funds - HCAN.L tracks the HSBC MSCI Canada UCITS ETF while QUID.L tracks the PIMCO Sterling Short Maturity UCITS ETF. Both are passively managed. Over the past 10 years, HCAN.L returned 10.39%/yr vs 2.00%/yr for QUID.L. At a correlation of -0.01, they often move in opposite directions.

Performance

HCAN.L vs. QUID.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI Canada UCITS ETF (HCAN.L) and PIMCO Sterling Short Maturity UCITS ETF (QUID.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HCAN.L is traded in GBp, while QUID.L is traded in GBP. To make them comparable, the QUID.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, HCAN.L achieves a 9.55% return, which is significantly higher than QUID.L's 2.18% return. Over the past 10 years, HCAN.L has outperformed QUID.L with an annualized return of 10.39%, while QUID.L has yielded a comparatively lower 2.00% 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%

QUID.L

• 1D: 0.10%
• 1M: 0.36%
• 6M: 1.97%
• YTD: 2.18%
• 1Y: 4.36%
• 3Y*: 5.10%
• 5Y*: 3.28%
• 10Y*: 2.00%

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

HCAN.L vs. QUID.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%
QUID.L PIMCO Sterling Short Maturity UCITS ETF	2.18%	4.89%	5.67%	4.95%	-0.96%	-0.07%	0.71%	1.57%	0.26%	0.52%

Correlation

The correlation between HCAN.L and QUID.L is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jun 10, 2011	-0.01

The correlation between HCAN.L and QUID.L shifts across timeframes, from -0.01 (all time) to 0.10 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

HCAN.L vs. QUID.L — Risk / Return Rank

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

HCAN.L

HCAN.L Risk / Return Rank: 92
HCAN.L Sharpe Ratio Rank: 93
HCAN.L Sortino Ratio Rank: 93
HCAN.L Omega Ratio Rank: 92
HCAN.L Calmar Ratio Rank: 89
HCAN.L Martin Ratio Rank: 91

QUID.L

QUID.L Risk / Return Rank: 99
QUID.L Sharpe Ratio Rank: 99
QUID.L Sortino Ratio Rank: 99
QUID.L Omega Ratio Rank: 99
QUID.L Calmar Ratio Rank: 98
QUID.L Martin Ratio Rank: 99

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.

HCAN.L vs. QUID.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Canada UCITS ETF (HCAN.L) and PIMCO Sterling Short Maturity UCITS ETF (QUID.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	QUID.L	Difference
Sharpe ratio: Return per unit of total volatility	2.67	6.00	-3.33
Sortino ratio: Return per unit of downside risk	3.72	10.83	-7.11
Omega ratio: Gain probability vs. loss probability	1.50	2.80	-1.30
Calmar ratio: Return relative to maximum drawdown	4.22	9.83	-5.61
Martin ratio: Return relative to average drawdown	16.91	78.74	-61.83

HCAN.L vs. QUID.L - Sharpe Ratio Comparison

The current HCAN.L Sharpe Ratio is 2.67, which is lower than the QUID.L Sharpe Ratio of 6.00. The chart below compares the historical Sharpe Ratios of HCAN.L and QUID.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

HCAN.L vs. QUID.L - Drawdown Comparison

The maximum HCAN.L drawdown since its inception was -34.05%, which is greater than QUID.L's maximum drawdown of -2.47%. Use the drawdown chart below to compare losses from any high point for HCAN.L and QUID.L.

Drawdown Indicators

	HCAN.L	QUID.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.05%	-2.47%	-31.58%
Max Drawdown (1Y) Largest decline over 1 year	-7.11%	-0.45%	-6.66%
Max Drawdown (3Y) Largest decline over 3 years	-14.21%	-0.45%	-13.76%
Max Drawdown (5Y) Largest decline over 5 years	-14.21%	-2.47%	-11.74%
Max Drawdown (10Y) Largest decline over 10 years	-33.72%	-2.47%	-31.25%
Current Drawdown Current decline from peak	-0.73%	0.00%	-0.73%
Average Drawdown Average peak-to-trough decline	-7.37%	-0.21%	-7.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	0.06%	+1.72%

Volatility

HCAN.L vs. QUID.L - Volatility Comparison

HSBC MSCI Canada UCITS ETF (HCAN.L) has a higher volatility of 3.25% compared to PIMCO Sterling Short Maturity UCITS ETF (QUID.L) at 0.19%. This indicates that HCAN.L's price experiences larger fluctuations and is considered to be riskier than QUID.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCAN.L	QUID.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.25%	0.19%	+3.06%
Volatility (6M) Calculated over the trailing 6-month period	8.04%	0.64%	+7.40%
Volatility (1Y) Calculated over the trailing 1-year period	11.28%	0.74%	+10.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.26%	0.74%	+13.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.98%	0.62%	+15.36%

Dividends

HCAN.L vs. QUID.L - Dividend Comparison

HCAN.L's dividend yield for the trailing twelve months is around 1.39%, less than QUID.L's 4.17% 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%
QUID.L PIMCO Sterling Short Maturity UCITS ETF	4.17%	4.19%	4.67%	3.69%	0.66%	0.08%	0.31%	0.73%	0.52%	0.33%	0.59%	0.55%

Frequently Asked Questions

Can I hold both HCAN.L and QUID.L in my portfolio?

HCAN.L and QUID.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between HCAN.L and QUID.L?

HCAN.L tracks HSBC MSCI Canada UCITS ETF, while QUID.L tracks PIMCO Sterling Short Maturity UCITS ETF. They also come from different issuers: HSBC and PIMCO.