HIDR.L vs. SI=F

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 SI=F (Silver) is an asset. Over the past 10 years, HIDR.L returned -3.49%/yr vs 17.15%/yr for SI=F. At a 0.13 correlation, their price movements are largely independent.

Performance

HIDR.L vs. SI=F - Performance Comparison

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

Different Trading Currencies

HIDR.L is traded in GBp, while SI=F is traded in USD. To make them comparable, the SI=F 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 SI=F's 4.80% return. Over the past 10 years, HIDR.L has underperformed SI=F with an annualized return of -3.49%, while SI=F has yielded a comparatively higher 17.15% 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%

SI=F

• 1D: -2.12%
• 1M: -3.44%
• YTD: 4.80%
• 6M: 23.97%
• 1Y: 108.18%
• 3Y*: 42.05%
• 5Y*: 22.74%
• 10Y*: 17.15%

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

HIDR.L vs. SI=F - 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%
SI=F Silver	4.80%	124.24%	23.53%	-4.82%	15.19%	-10.75%	43.05%	10.93%	-3.99%	-2.04%

Correlation

The correlation between HIDR.L and SI=F is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Apr 5, 2011	0.13

Return for Risk

HIDR.L vs. SI=F — 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

SI=F

SI=F Risk / Return Rank: 67
SI=F Sharpe Ratio Rank: 68
SI=F Sortino Ratio Rank: 68
SI=F Omega Ratio Rank: 71
SI=F Calmar Ratio Rank: 68
SI=F Martin Ratio Rank: 63

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. SI=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) and Silver (SI=F). 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	SI=F	Difference
Sharpe ratio: Return per unit of total volatility	-1.59	1.51	-3.10
Sortino ratio: Return per unit of downside risk	-2.33	1.91	-4.24
Omega ratio: Gain probability vs. loss probability	0.71	1.33	-0.62
Calmar ratio: Return relative to maximum drawdown	-0.92	2.24	-3.16
Martin ratio: Return relative to average drawdown	-2.56	4.80	-7.36
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. SI=F - Sharpe Ratio Comparison

The current HIDR.L Sharpe Ratio is -1.59, which is lower than the SI=F Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of HIDR.L and SI=F, 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	SI=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.59	1.51	-3.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.45	0.58	-1.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.16	0.50	-0.66
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.35	-0.45

Drawdowns

HIDR.L vs. SI=F - Drawdown Comparison

The maximum HIDR.L drawdown since its inception was -58.31%, smaller than the maximum SI=F drawdown of -68.90%. Use the drawdown chart below to compare losses from any high point for HIDR.L and SI=F.

Drawdown Indicators

	HIDR.L	SI=F	Difference
Max Drawdown Largest peak-to-trough decline	-58.31%	-68.90%	+10.59%
Max Drawdown (1Y) Largest decline over 1 year	-42.78%	-39.67%	-3.11%
Max Drawdown (3Y) Largest decline over 3 years	-54.23%	-39.67%	-14.56%
Max Drawdown (5Y) Largest decline over 5 years	-58.31%	-39.67%	-18.64%
Max Drawdown (10Y) Largest decline over 10 years	-58.31%	-39.67%	-18.64%
Current Drawdown Current decline from peak	-58.31%	-34.76%	-23.55%
Average Drawdown Average peak-to-trough decline	-18.11%	-35.45%	+17.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.35%	20.22%	-4.87%

Volatility

HIDR.L vs. SI=F - Volatility Comparison

The current volatility for HSBC MSCI Indonesia UCITS ETF USD (HIDR.L) is 7.79%, while Silver (SI=F) has a volatility of 13.90%. This indicates that HIDR.L experiences smaller price fluctuations and is considered to be less risky than SI=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIDR.L	SI=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.79%	13.90%	-6.11%
Volatility (6M) Calculated over the trailing 6-month period	20.56%	59.00%	-38.44%
Volatility (1Y) Calculated over the trailing 1-year period	24.69%	58.85%	-34.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.00%	36.31%	-16.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.57%	32.70%	-8.13%

Frequently Asked Questions

Can I hold both HIDR.L and SI=F in my portfolio?

HIDR.L and SI=F have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.