HNSS.L vs. SHLG.L
HNSS.L (HSBC Nasdaq Global Semiconductor UCITS ETF) and SHLG.L (iShares Digital Security UCITS ETF USD (Dist)) are both exchange-traded funds - HNSS.L is a Semiconductors fund tracking the Nasdaq Global Semiconductor Index, while SHLG.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 3 years, HNSS.L returned 58.47%/yr vs 18.72%/yr for SHLG.L. A 0.65 correlation means they provide meaningful diversification when combined. HNSS.L charges 0.35%/yr vs 0.40%/yr for SHLG.L.
Performance
HNSS.L vs. SHLG.L - Performance Comparison
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Returns By Period
In the year-to-date period, HNSS.L achieves a 91.77% return, which is significantly higher than SHLG.L's 19.45% return.
HNSS.L
- 1D
- -2.66%
- 1M
- 21.88%
- YTD
- 91.77%
- 6M
- 93.25%
- 1Y
- 194.16%
- 3Y*
- 58.47%
- 5Y*
- —
- 10Y*
- —
SHLG.L
- 1D
- -2.36%
- 1M
- 10.80%
- YTD
- 19.45%
- 6M
- 20.25%
- 1Y
- 26.15%
- 3Y*
- 18.72%
- 5Y*
- 11.16%
- 10Y*
- —
HNSS.L vs. SHLG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HNSS.L HSBC Nasdaq Global Semiconductor UCITS ETF | 91.77% | 45.50% | 19.96% | 60.90% | -19.12% |
SHLG.L iShares Digital Security UCITS ETF USD (Dist) | 19.45% | 3.87% | 18.54% | 26.67% | -8.67% |
Correlation
The correlation between HNSS.L and SHLG.L is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2022 | 0.65 |
The correlation between HNSS.L and SHLG.L shifts across timeframes, from 0.52 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HNSS.L vs. SHLG.L — Risk / Return Rank
HNSS.L
SHLG.L
HNSS.L vs. SHLG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Nasdaq Global Semiconductor UCITS ETF (HNSS.L) and iShares Digital Security UCITS ETF USD (Dist) (SHLG.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.
| HNSS.L | SHLG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.72 | ||
| Sortino ratioReturn per unit of downside risk | +4.03 | ||
| Omega ratioGain probability vs. loss probability | 1.78 | 1.25 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 14.66 | 2.06 | +12.60 |
| Martin ratioReturn relative to average drawdown | 50.30 | 4.80 | +45.50 |
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
| HNSS.L | SHLG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.08 | 1.36 | +4.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.34 | 0.62 | +0.72 |
Drawdowns
HNSS.L vs. SHLG.L - Drawdown Comparison
The maximum HNSS.L drawdown since its inception was -36.83%, which is greater than SHLG.L's maximum drawdown of -27.07%. Use the drawdown chart below to compare losses from any high point for HNSS.L and SHLG.L.
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Drawdown Indicators
| HNSS.L | SHLG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.83% | -27.07% | -9.76% |
Max Drawdown (1Y)Largest decline over 1 year | -13.16% | -12.65% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -36.83% | -24.02% | -12.81% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.07% | — |
Current DrawdownCurrent decline from peak | -2.66% | -2.80% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -9.55% | -9.50% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.84% | 5.43% | -1.59% |
Volatility
HNSS.L vs. SHLG.L - Volatility Comparison
HSBC Nasdaq Global Semiconductor UCITS ETF (HNSS.L) has a higher volatility of 13.36% compared to iShares Digital Security UCITS ETF USD (Dist) (SHLG.L) at 7.69%. This indicates that HNSS.L's price experiences larger fluctuations and is considered to be riskier than SHLG.L 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 | SHLG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.36% | 7.69% | +5.67% |
Volatility (6M)Calculated over the trailing 6-month period | 24.62% | 15.08% | +9.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.72% | 19.11% | +12.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.12% | 18.97% | +11.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.12% | 18.87% | +11.25% |
HNSS.L vs. SHLG.L - Expense Ratio Comparison
HNSS.L has a 0.35% expense ratio, which is lower than SHLG.L's 0.40% expense ratio.
Dividends
HNSS.L vs. SHLG.L - Dividend Comparison
HNSS.L has not paid dividends to shareholders, while SHLG.L's dividend yield for the trailing twelve months is around 0.33%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HNSS.L HSBC Nasdaq Global Semiconductor UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHLG.L iShares Digital Security UCITS ETF USD (Dist) | 0.33% | 0.39% | 0.47% | 0.43% | 0.62% | 0.66% |
Frequently Asked Questions
HNSS.L and SHLG.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HNSS.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HNSS.L is cheaper with a 0.35% expense ratio, compared with 0.40% for SHLG.L.
HNSS.L is categorized as Semiconductors, while SHLG.L is Technology Equities. HNSS.L tracks Nasdaq Global Semiconductor Index, while SHLG.L tracks MSCI World/Information Tech NR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.35% for HNSS.L and 0.40% for SHLG.L.
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