HNSS.L vs. MSFT
HNSS.L (HSBC Nasdaq Global Semiconductor UCITS ETF) is Semiconductors fund tracking the Nasdaq Global Semiconductor Index, while MSFT (Microsoft Corporation) is a stock. Over the past 3 years, HNSS.L returned 54.01%/yr vs 4.02%/yr for MSFT. At a 0.41 correlation, their price movements are largely independent.
Performance
HNSS.L vs. MSFT - Performance Comparison
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Different Trading Currencies
HNSS.L is traded in GBP, while MSFT is traded in USD. To make them comparable, the MSFT values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, HNSS.L achieves a 84.37% return, which is significantly higher than MSFT's -18.43% return.
HNSS.L
- 1D
- 0.00%
- 1M
- 5.02%
- YTD
- 84.37%
- 6M
- 88.21%
- 1Y
- 173.28%
- 3Y*
- 54.01%
- 5Y*
- —
- 10Y*
- —
MSFT
- 1D
- 0.19%
- 1M
- -2.51%
- YTD
- -18.43%
- 6M
- -18.19%
- 1Y
- -16.45%
- 3Y*
- 4.02%
- 5Y*
- 10.70%
- 10Y*
- 25.03%
HNSS.L vs. MSFT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HNSS.L HSBC Nasdaq Global Semiconductor UCITS ETF | 84.37% | 45.50% | 19.96% | 32.89% | -25.65% |
MSFT Microsoft Corporation | -18.43% | 7.35% | 14.90% | 50.28% | -8.92% |
Correlation
The correlation between HNSS.L and MSFT is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2022 | 0.41 |
Over the past year, the correlation between HNSS.L and MSFT has dropped to 0.16 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
HNSS.L vs. MSFT — Risk / Return Rank
HNSS.L
MSFT
HNSS.L vs. MSFT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Nasdaq Global Semiconductor UCITS ETF (HNSS.L) and Microsoft Corporation (MSFT). 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.
| HNSS.L | MSFT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.78 | ||
| Sortino ratioReturn per unit of downside risk | +4.45 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 0.90 | +0.74 |
| Calmar ratioReturn relative to maximum drawdown | 5.70 | -0.48 | +6.18 |
| Martin ratioReturn relative to average drawdown | 14.75 | -0.94 | +15.69 |
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Drawdowns
HNSS.L vs. MSFT - Drawdown Comparison
The maximum HNSS.L drawdown since its inception was -41.32%, roughly equal to the maximum MSFT drawdown of -40.05%. Use the drawdown chart below to compare losses from any high point for HNSS.L and MSFT.
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Drawdown Indicators
| HNSS.L | MSFT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.32% | -40.05% | -1.27% |
Max Drawdown (1Y)Largest decline over 1 year | -29.74% | -34.18% | +4.44% |
Max Drawdown (3Y)Largest decline over 3 years | -36.83% | -34.18% | -2.65% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.18% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.18% | — |
Current DrawdownCurrent decline from peak | -6.42% | -28.53% | +22.11% |
Average DrawdownAverage peak-to-trough decline | -16.47% | -8.84% | -7.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.50% | 17.53% | -6.03% |
Volatility
HNSS.L vs. MSFT - Volatility Comparison
HSBC Nasdaq Global Semiconductor UCITS ETF (HNSS.L) has a higher volatility of 13.65% compared to Microsoft Corporation (MSFT) at 10.61%. This indicates that HNSS.L's price experiences larger fluctuations and is considered to be riskier than MSFT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HNSS.L | MSFT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.65% | 10.61% | +3.04% |
Volatility (6M)Calculated over the trailing 6-month period | 26.17% | 21.91% | +4.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.01% | 25.64% | +28.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.29% | 25.92% | +12.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.29% | 27.30% | +10.99% |
Dividends
HNSS.L vs. MSFT - Dividend Comparison
HNSS.L has not paid dividends to shareholders, while MSFT's dividend yield for the trailing twelve months is around 0.91%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HNSS.L HSBC Nasdaq Global Semiconductor UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MSFT Microsoft Corporation | 0.91% | 0.70% | 0.73% | 0.74% | 1.06% | 0.68% | 0.94% | 1.20% | 1.69% | 1.86% | 2.37% | 2.33% |
Frequently Asked Questions
HNSS.L and MSFT have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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