HNSS.L vs. SOXL.L
HNSS.L (HSBC Nasdaq Global Semiconductor UCITS ETF) and SOXL.L (Leverage Shares 4x Long Semiconductors ETP Securities) are both exchange-traded funds - HNSS.L is a Semiconductors fund tracking the Nasdaq Global Semiconductor Index, while SOXL.L is a Leveraged Equities fund tracking the NYSE Semiconductor Index. Both are passively managed. Over the past year, HNSS.L returned 194.16% vs 2211.03% for SOXL.L. With a 0.96 correlation, they move nearly in lockstep. HNSS.L charges 0.35%/yr vs 0.75%/yr for SOXL.L.
Performance
HNSS.L vs. SOXL.L - Performance Comparison
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Different Trading Currencies
HNSS.L is traded in GBP, while SOXL.L is traded in USD. To make them comparable, the SOXL.L 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 91.77% return, which is significantly lower than SOXL.L's 802.02% return.
HNSS.L
- 1D
- -2.66%
- 1M
- 21.88%
- YTD
- 91.77%
- 6M
- 93.25%
- 1Y
- 194.16%
- 3Y*
- 58.47%
- 5Y*
- —
- 10Y*
- —
SOXL.L
- 1D
- -9.76%
- 1M
- 110.23%
- YTD
- 802.02%
- 6M
- 716.77%
- 1Y
- 2,211.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HNSS.L vs. SOXL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HNSS.L HSBC Nasdaq Global Semiconductor UCITS ETF | 91.77% | 45.50% | -0.69% |
SOXL.L Leverage Shares 4x Long Semiconductors ETP Securities | 802.02% | 3.47% | -59.63% |
Correlation
The correlation between HNSS.L and SOXL.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2024 | 0.96 |
The correlation between HNSS.L and SOXL.L has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.
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Return for Risk
HNSS.L vs. SOXL.L — Risk / Return Rank
HNSS.L
SOXL.L
HNSS.L vs. SOXL.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 Leverage Shares 4x Long Semiconductors ETP Securities (SOXL.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 | SOXL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -10.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.78 | 1.63 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 14.66 | 43.15 | -28.49 |
| Martin ratioReturn relative to average drawdown | 50.30 | 128.87 | -78.57 |
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 | SOXL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.08 | 16.20 | -10.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.34 | 0.61 | +0.73 |
Drawdowns
HNSS.L vs. SOXL.L - Drawdown Comparison
The maximum HNSS.L drawdown since its inception was -36.83%, smaller than the maximum SOXL.L drawdown of -95.81%. Use the drawdown chart below to compare losses from any high point for HNSS.L and SOXL.L.
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Drawdown Indicators
| HNSS.L | SOXL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.83% | -95.81% | +58.98% |
Max Drawdown (1Y)Largest decline over 1 year | -13.16% | -50.58% | +37.42% |
Max Drawdown (3Y)Largest decline over 3 years | -36.83% | — | — |
Current DrawdownCurrent decline from peak | -2.66% | -9.76% | +7.10% |
Average DrawdownAverage peak-to-trough decline | -9.55% | -61.38% | +51.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.84% | 16.97% | -13.13% |
Volatility
HNSS.L vs. SOXL.L - Volatility Comparison
The current volatility for HSBC Nasdaq Global Semiconductor UCITS ETF (HNSS.L) is 13.36%, while Leverage Shares 4x Long Semiconductors ETP Securities (SOXL.L) has a volatility of 56.90%. This indicates that HNSS.L experiences smaller price fluctuations and is considered to be less risky than SOXL.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 | SOXL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.36% | 56.90% | -43.54% |
Volatility (6M)Calculated over the trailing 6-month period | 24.62% | 103.24% | -78.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.72% | 134.86% | -103.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.12% | 136.53% | -106.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.12% | 136.53% | -106.41% |
HNSS.L vs. SOXL.L - Expense Ratio Comparison
HNSS.L has a 0.35% expense ratio, which is lower than SOXL.L's 0.75% expense ratio.
Dividends
HNSS.L vs. SOXL.L - Dividend Comparison
Neither HNSS.L nor SOXL.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, HNSS.L and SOXL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.75% for SOXL.L.
HNSS.L is categorized as Semiconductors, while SOXL.L is Leveraged Equities. HNSS.L tracks Nasdaq Global Semiconductor Index, while SOXL.L tracks NYSE Semiconductor Index. They also come from different issuers: HSBC and Leverage Shares. Their fees differ too: 0.35% for HNSS.L and 0.75% for SOXL.L.
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