HNSS.L vs. NVO
HNSS.L (HSBC Nasdaq Global Semiconductor UCITS ETF) is Semiconductors fund tracking the Nasdaq Global Semiconductor Index, while NVO (Novo Nordisk A/S) is a stock. Over the past 3 years, HNSS.L returned 54.01%/yr vs -17.29%/yr for NVO. At a 0.10 correlation, their price movements are largely independent.
Performance
HNSS.L vs. NVO - Performance Comparison
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Different Trading Currencies
HNSS.L is traded in GBP, while NVO is traded in USD. To make them comparable, the NVO 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 NVO's -10.29% return.
HNSS.L
- 1D
- 0.00%
- 1M
- 5.02%
- YTD
- 84.37%
- 6M
- 88.21%
- 1Y
- 173.28%
- 3Y*
- 54.01%
- 5Y*
- —
- 10Y*
- —
NVO
- 1D
- -0.09%
- 1M
- -5.98%
- YTD
- -10.29%
- 6M
- -9.72%
- 1Y
- -42.44%
- 3Y*
- -17.29%
- 5Y*
- 3.99%
- 10Y*
- 8.12%
HNSS.L vs. NVO - 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% |
NVO Novo Nordisk A/S | -10.29% | -43.55% | -14.46% | 47.10% | 60.51% |
Correlation
The correlation between HNSS.L and NVO is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2022 | 0.10 |
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Return for Risk
HNSS.L vs. NVO — Risk / Return Rank
HNSS.L
NVO
HNSS.L vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Nasdaq Global Semiconductor UCITS ETF (HNSS.L) and Novo Nordisk A/S (NVO). 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 | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.98 | ||
| Sortino ratioReturn per unit of downside risk | +4.74 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 0.85 | +0.79 |
| Calmar ratioReturn relative to maximum drawdown | 5.70 | -0.80 | +6.50 |
| Martin ratioReturn relative to average drawdown | 14.75 | -1.18 | +15.92 |
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Drawdowns
HNSS.L vs. NVO - Drawdown Comparison
The maximum HNSS.L drawdown since its inception was -41.32%, smaller than the maximum NVO drawdown of -75.79%. Use the drawdown chart below to compare losses from any high point for HNSS.L and NVO.
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Drawdown Indicators
| HNSS.L | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.32% | -75.79% | +34.47% |
Max Drawdown (1Y)Largest decline over 1 year | -29.74% | -53.28% | +23.54% |
Max Drawdown (3Y)Largest decline over 3 years | -36.83% | -75.79% | +38.96% |
Max Drawdown (5Y)Largest decline over 5 years | — | -75.79% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.79% | — |
Current DrawdownCurrent decline from peak | -6.42% | -69.82% | +63.40% |
Average DrawdownAverage peak-to-trough decline | -16.47% | -11.97% | -4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.50% | 36.79% | -25.29% |
Volatility
HNSS.L vs. NVO - Volatility Comparison
HSBC Nasdaq Global Semiconductor UCITS ETF (HNSS.L) has a higher volatility of 13.65% compared to Novo Nordisk A/S (NVO) at 10.14%. This indicates that HNSS.L's price experiences larger fluctuations and is considered to be riskier than NVO 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 | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.65% | 10.14% | +3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 26.17% | 37.12% | -10.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.01% | 50.71% | +3.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.29% | 37.92% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.29% | 32.66% | +5.63% |
Dividends
HNSS.L vs. NVO - Dividend Comparison
HNSS.L has not paid dividends to shareholders, while NVO's dividend yield for the trailing twelve months is around 4.11%.
| 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% |
NVO Novo Nordisk A/S | 4.11% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
Frequently Asked Questions
HNSS.L and NVO have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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