HNSS.L vs. NVDA

Last updated Jun 13, 2026

HNSS.L (HSBC Nasdaq Global Semiconductor UCITS ETF) is Semiconductors fund tracking the Nasdaq Global Semiconductor Index, while NVDA (NVIDIA Corporation) is a stock. Over the past 3 years, HNSS.L returned 54.01%/yr vs 67.68%/yr for NVDA. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

HNSS.L vs. NVDA - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC Nasdaq Global Semiconductor UCITS ETF (HNSS.L) and NVIDIA Corporation (NVDA). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HNSS.L is traded in GBP, while NVDA is traded in USD. To make them comparable, the NVDA 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 NVDA's 10.72% return.

HNSS.L

• 1D: 0.00%
• 1M: 5.02%
• YTD: 84.37%
• 6M: 88.21%
• 1Y: 173.28%
• 3Y*: 54.01%
• 5Y*: —
• 10Y*: —

NVDA

• 1D: 0.24%
• 1M: -8.23%
• YTD: 10.72%
• 6M: 17.09%
• 1Y: 43.95%
• 3Y*: 67.68%
• 5Y*: 64.82%
• 10Y*: 68.81%

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

HNSS.L vs. NVDA - 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%
NVDA NVIDIA Corporation	10.72%	29.02%	175.99%	222.07%	-30.21%

Correlation

The correlation between HNSS.L and NVDA is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jan 25, 2022	0.59

The correlation between HNSS.L and NVDA shifts across timeframes, from 0.48 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HNSS.L vs. NVDA — Risk / Return Rank

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

HNSS.L

HNSS.L Risk / Return Rank: 91
HNSS.L Sharpe Ratio Rank: 94
HNSS.L Sortino Ratio Rank: 90
HNSS.L Omega Ratio Rank: 95
HNSS.L Calmar Ratio Rank: 93
HNSS.L Martin Ratio Rank: 83

NVDA

NVDA Risk / Return Rank: 75
NVDA Sharpe Ratio Rank: 78
NVDA Sortino Ratio Rank: 73
NVDA Omega Ratio Rank: 71
NVDA Calmar Ratio Rank: 77
NVDA Martin Ratio Rank: 77

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.

HNSS.L vs. NVDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC Nasdaq Global Semiconductor UCITS ETF (HNSS.L) and NVIDIA Corporation (NVDA). 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	NVDA	Difference
Sharpe ratio: Return per unit of total volatility	3.14	1.26	+1.88
Sortino ratio: Return per unit of downside risk	3.70	1.83	+1.88
Omega ratio: Gain probability vs. loss probability	1.64	1.22	+0.42
Calmar ratio: Return relative to maximum drawdown	5.70	2.16	+3.54
Martin ratio: Return relative to average drawdown	14.75	4.65	+10.10

HNSS.L vs. NVDA - Sharpe Ratio Comparison

The current HNSS.L Sharpe Ratio is 3.14, which is higher than the NVDA Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of HNSS.L and NVDA, 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

HNSS.L vs. NVDA - Drawdown Comparison

The maximum HNSS.L drawdown since its inception was -41.32%, smaller than the maximum NVDA drawdown of -79.51%. Use the drawdown chart below to compare losses from any high point for HNSS.L and NVDA.

Drawdown Indicators

	HNSS.L	NVDA	Difference
Max Drawdown Largest peak-to-trough decline	-41.32%	-79.51%	+38.19%
Max Drawdown (1Y) Largest decline over 1 year	-29.74%	-20.42%	-9.32%
Max Drawdown (3Y) Largest decline over 3 years	-36.83%	-39.34%	+2.51%
Max Drawdown (5Y) Largest decline over 5 years	—	-59.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-59.90%	—
Current Drawdown Current decline from peak	-6.42%	-12.88%	+6.46%
Average Drawdown Average peak-to-trough decline	-16.47%	-28.42%	+11.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.50%	9.48%	+2.02%

Volatility

HNSS.L vs. NVDA - Volatility Comparison

HSBC Nasdaq Global Semiconductor UCITS ETF (HNSS.L) and NVIDIA Corporation (NVDA) have volatilities of 13.65% and 13.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HNSS.L	NVDA	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.65%	13.05%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	26.17%	25.92%	+0.25%
Volatility (1Y) Calculated over the trailing 1-year period	54.01%	35.04%	+18.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.29%	50.60%	-12.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.29%	49.45%	-11.16%

Dividends

HNSS.L vs. NVDA - Dividend Comparison

HNSS.L has not paid dividends to shareholders, while NVDA's dividend yield for the trailing twelve months is around 0.14%.

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%
NVDA NVIDIA Corporation	0.14%	0.02%	0.03%	0.03%	0.11%	0.05%	0.12%	0.27%	0.46%	0.29%	0.45%	1.20%

Frequently Asked Questions

Can I hold both HNSS.L and NVDA in my portfolio?

HNSS.L and NVDA have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.