HMUD.L vs. HUKX.L
HMUD.L (HSBC MSCI USA UCITS ETF) and HUKX.L (HSBC FTSE 100 UCITS ETF GBP) are both exchange-traded funds - HMUD.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while HUKX.L is a Europe Equities fund tracking the FTSE AllSh TR GBP. Both are passively managed. Over the past 10 years, HMUD.L returned 14.59%/yr vs 8.28%/yr for HUKX.L. A 0.60 correlation means they provide meaningful diversification when combined. HMUD.L charges 0.30%/yr vs 0.07%/yr for HUKX.L.
Performance
HMUD.L vs. HUKX.L - Performance Comparison
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Different Trading Currencies
HMUD.L is traded in USD, while HUKX.L is traded in GBp. To make them comparable, the HUKX.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HMUD.L achieves a 8.96% return, which is significantly higher than HUKX.L's 5.45% return. Over the past 10 years, HMUD.L has outperformed HUKX.L with an annualized return of 14.59%, while HUKX.L has yielded a comparatively lower 8.28% annualized return.
HMUD.L
- 1D
- 0.81%
- 1M
- 4.77%
- YTD
- 8.96%
- 6M
- 9.72%
- 1Y
- 22.07%
- 3Y*
- 20.51%
- 5Y*
- 12.27%
- 10Y*
- 14.59%
HUKX.L
- 1D
- 0.34%
- 1M
- 0.53%
- YTD
- 5.45%
- 6M
- 8.98%
- 1Y
- 19.82%
- 3Y*
- 17.75%
- 5Y*
- 10.70%
- 10Y*
- 8.28%
HMUD.L vs. HUKX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HMUD.L HSBC MSCI USA UCITS ETF | 8.96% | 13.89% | 25.06% | 27.46% | -20.22% | 27.36% | 20.72% | 30.48% | -5.72% | 21.56% |
HUKX.L HSBC FTSE 100 UCITS ETF GBP | 5.45% | 35.72% | 7.75% | 13.02% | -6.16% | 16.48% | -8.93% | 22.13% | -13.84% | 23.09% |
Correlation
The correlation between HMUD.L and HUKX.L is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2010 | 0.60 |
The correlation between HMUD.L and HUKX.L has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.
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Return for Risk
HMUD.L vs. HUKX.L — Risk / Return Rank
HMUD.L
HUKX.L
HMUD.L vs. HUKX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI USA UCITS ETF (HMUD.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.
| HMUD.L | HUKX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.27 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 2.03 | +0.63 |
| Martin ratioReturn relative to average drawdown | 11.72 | 7.04 | +4.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HMUD.L | HUKX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.96 | 1.48 | +0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | 0.65 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 0.45 | +0.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.89 | 0.38 | +0.52 |
Drawdowns
HMUD.L vs. HUKX.L - Drawdown Comparison
The maximum HMUD.L drawdown since its inception was -34.30%, smaller than the maximum HUKX.L drawdown of -42.05%. Use the drawdown chart below to compare losses from any high point for HMUD.L and HUKX.L.
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Drawdown Indicators
| HMUD.L | HUKX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.30% | -42.05% | +7.75% |
Max Drawdown (1Y)Largest decline over 1 year | -8.29% | -9.74% | +1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -19.47% | -13.28% | -6.19% |
Max Drawdown (5Y)Largest decline over 5 years | -25.47% | -26.01% | +0.54% |
Max Drawdown (10Y)Largest decline over 10 years | -34.30% | -42.05% | +7.75% |
Current DrawdownCurrent decline from peak | 0.00% | -4.28% | +4.28% |
Average DrawdownAverage peak-to-trough decline | -4.05% | -7.75% | +3.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 2.81% | -0.93% |
Volatility
HMUD.L vs. HUKX.L - Volatility Comparison
The current volatility for HSBC MSCI USA UCITS ETF (HMUD.L) is 2.81%, while HSBC FTSE 100 UCITS ETF GBP (HUKX.L) has a volatility of 4.96%. This indicates that HMUD.L experiences smaller price fluctuations and is considered to be less risky 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
| HMUD.L | HUKX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.81% | 4.96% | -2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 8.24% | 11.26% | -3.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.22% | 13.31% | -2.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 16.40% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.36% | 18.19% | -1.83% |
HMUD.L vs. HUKX.L - Expense Ratio Comparison
HMUD.L has a 0.30% expense ratio, which is higher than HUKX.L's 0.07% expense ratio.
Dividends
HMUD.L vs. HUKX.L - Dividend Comparison
HMUD.L's dividend yield for the trailing twelve months is around 0.91%, less than HUKX.L's 2.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMUD.L HSBC MSCI USA UCITS ETF | 0.91% | 0.95% | 0.82% | 0.97% | 1.07% | 0.78% | 1.11% | 1.22% | 1.45% | 1.24% | 1.43% | 1.43% |
HUKX.L HSBC FTSE 100 UCITS ETF GBP | 2.85% | 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
HMUD.L and HUKX.L have a correlation of 0.59, 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 0.30% for HMUD.L.
HMUD.L is categorized as Large Cap Blend Equities, while HUKX.L is Europe Equities. HMUD.L tracks Russell 1000 TR USD, while HUKX.L tracks FTSE AllSh TR GBP. Their fees differ too: 0.30% for HMUD.L and 0.07% for HUKX.L.
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