HIDR.L vs. ^NDX

Last updated Jun 5, 2026

HIDR.L (HSBC MSCI Indonesia UCITS ETF USD) is Asia Pacific Equities fund tracking the MSCI Indonesia NR IDR, while ^NDX (NASDAQ 100 Index) is an index. Over the past 10 years, HIDR.L returned -3.49%/yr vs 21.89%/yr for ^NDX. At a 0.25 correlation, their price movements are largely independent.

Performance

HIDR.L vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HIDR.L is traded in GBp, while ^NDX is traded in USD. To make them comparable, the ^NDX values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, HIDR.L achieves a -39.26% return, which is significantly lower than ^NDX's 20.92% return. Over the past 10 years, HIDR.L has underperformed ^NDX with an annualized return of -3.49%, while ^NDX has yielded a comparatively higher 21.89% annualized return.

HIDR.L

• 1D: -0.63%
• 1M: -19.17%
• YTD: -39.26%
• 6M: -40.84%
• 1Y: -39.36%
• 3Y*: -23.10%
• 5Y*: -9.04%
• 10Y*: -3.49%

^NDX

• 1D: -0.53%
• 1M: 9.54%
• YTD: 20.92%
• 6M: 18.04%
• 1Y: 41.34%
• 3Y*: 24.62%
• 5Y*: 18.43%
• 10Y*: 21.89%

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

HIDR.L vs. ^NDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HIDR.L HSBC MSCI Indonesia UCITS ETF USD	-39.26%	-8.13%	-13.17%	-0.80%	15.43%	2.40%	-11.41%	4.86%	-4.08%	12.22%
^NDX NASDAQ 100 Index	20.92%	11.61%	27.06%	46.12%	-25.00%	27.83%	43.25%	32.72%	4.83%	20.14%

Correlation

The correlation between HIDR.L and ^NDX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.20
Correlation (All Time) Calculated using the full available price history since Apr 5, 2011	0.25

The correlation between HIDR.L and ^NDX shifts across timeframes, from 0.14 (3 years) to 0.25 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HIDR.L vs. ^NDX — Risk / Return Rank

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

HIDR.L

HIDR.L Risk / Return Rank: 0
HIDR.L Sharpe Ratio Rank: 0
HIDR.L Sortino Ratio Rank: 0
HIDR.L Omega Ratio Rank: 0
HIDR.L Calmar Ratio Rank: 1
HIDR.L Martin Ratio Rank: 0

^NDX

^NDX Risk / Return Rank: 83
^NDX Sharpe Ratio Rank: 84
^NDX Sortino Ratio Rank: 84
^NDX Omega Ratio Rank: 82
^NDX Calmar Ratio Rank: 83
^NDX Martin Ratio Rank: 80

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.

HIDR.L vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) and NASDAQ 100 Index (^NDX). 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.

	HIDR.L	^NDX	Difference
Sharpe ratio: Return per unit of total volatility	-1.59	2.69	-4.28
Sortino ratio: Return per unit of downside risk	-2.33	3.45	-5.77
Omega ratio: Gain probability vs. loss probability	0.71	1.47	-0.76
Calmar ratio: Return relative to maximum drawdown	-0.92	3.45	-4.37
Martin ratio: Return relative to average drawdown	-2.56	10.41	-12.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HIDR.L vs. ^NDX - Sharpe Ratio Comparison

The current HIDR.L Sharpe Ratio is -1.59, which is lower than the ^NDX Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of HIDR.L and ^NDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HIDR.L	^NDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.59	2.69	-4.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.45	0.87	-1.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.16	0.98	-1.14
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.81	-0.91

Drawdowns

HIDR.L vs. ^NDX - Drawdown Comparison

The maximum HIDR.L drawdown since its inception was -58.31%, which is greater than ^NDX's maximum drawdown of -34.63%. Use the drawdown chart below to compare losses from any high point for HIDR.L and ^NDX.

Drawdown Indicators

	HIDR.L	^NDX	Difference
Max Drawdown Largest peak-to-trough decline	-58.31%	-34.63%	-23.68%
Max Drawdown (1Y) Largest decline over 1 year	-42.78%	-12.05%	-30.73%
Max Drawdown (3Y) Largest decline over 3 years	-54.23%	-24.98%	-29.25%
Max Drawdown (5Y) Largest decline over 5 years	-58.31%	-28.43%	-29.88%
Max Drawdown (10Y) Largest decline over 10 years	-58.31%	-28.43%	-29.88%
Current Drawdown Current decline from peak	-58.31%	-0.53%	-57.78%
Average Drawdown Average peak-to-trough decline	-18.11%	-5.62%	-12.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.35%	3.98%	+11.37%

Volatility

HIDR.L vs. ^NDX - Volatility Comparison

HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) has a higher volatility of 7.79% compared to NASDAQ 100 Index (^NDX) at 3.97%. This indicates that HIDR.L's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIDR.L	^NDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.79%	3.97%	+3.82%
Volatility (6M) Calculated over the trailing 6-month period	20.56%	11.00%	+9.56%
Volatility (1Y) Calculated over the trailing 1-year period	24.69%	15.42%	+9.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.00%	21.32%	-1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.57%	22.44%	+2.13%

Frequently Asked Questions

Can I hold both HIDR.L and ^NDX in my portfolio?

HIDR.L and ^NDX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.