HNSS.L vs. URTH
HNSS.L (HSBC Nasdaq Global Semiconductor UCITS ETF) and URTH (iShares MSCI World ETF) are both exchange-traded funds - HNSS.L is a Semiconductors fund tracking the Nasdaq Global Semiconductor Index, while URTH is a Global Equities fund tracking the MSCI World Index (Net). Both are passively managed. Over the past 3 years, HNSS.L returned 54.01%/yr vs 17.19%/yr for URTH. A 0.55 correlation means they provide meaningful diversification when combined. HNSS.L charges 0.35%/yr vs 0.24%/yr for URTH.
Performance
HNSS.L vs. URTH - Performance Comparison
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Different Trading Currencies
HNSS.L is traded in GBP, while URTH is traded in USD. To make them comparable, the URTH 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 URTH's 9.47% return.
HNSS.L
- 1D
- 0.00%
- 1M
- 5.02%
- YTD
- 84.37%
- 6M
- 88.21%
- 1Y
- 173.28%
- 3Y*
- 54.01%
- 5Y*
- —
- 10Y*
- —
URTH
- 1D
- 0.47%
- 1M
- 1.22%
- YTD
- 9.47%
- 6M
- 9.33%
- 1Y
- 25.05%
- 3Y*
- 17.19%
- 5Y*
- 12.61%
- 10Y*
- 13.96%
HNSS.L vs. URTH - 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% |
URTH iShares MSCI World ETF | 9.47% | 12.71% | 20.73% | 17.75% | -1.83% |
Correlation
The correlation between HNSS.L and URTH is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2022 | 0.55 |
The correlation between HNSS.L and URTH has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.
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Return for Risk
HNSS.L vs. URTH — Risk / Return Rank
HNSS.L
URTH
HNSS.L vs. URTH - 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 MSCI World ETF (URTH). 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 | URTH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.41 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 5.70 | 3.62 | +2.08 |
| Martin ratioReturn relative to average drawdown | 14.75 | 14.72 | +0.03 |
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Drawdowns
HNSS.L vs. URTH - Drawdown Comparison
The maximum HNSS.L drawdown since its inception was -41.32%, which is greater than URTH's maximum drawdown of -27.18%. Use the drawdown chart below to compare losses from any high point for HNSS.L and URTH.
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Drawdown Indicators
| HNSS.L | URTH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.32% | -27.18% | -14.14% |
Max Drawdown (1Y)Largest decline over 1 year | -29.74% | -6.95% | -22.79% |
Max Drawdown (3Y)Largest decline over 3 years | -36.83% | -18.55% | -18.28% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.55% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.18% | — |
Current DrawdownCurrent decline from peak | -6.42% | -1.50% | -4.92% |
Average DrawdownAverage peak-to-trough decline | -16.47% | -3.33% | -13.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.50% | 1.71% | +9.79% |
Volatility
HNSS.L vs. URTH - Volatility Comparison
HSBC Nasdaq Global Semiconductor UCITS ETF (HNSS.L) has a higher volatility of 13.65% compared to iShares MSCI World ETF (URTH) at 4.00%. This indicates that HNSS.L's price experiences larger fluctuations and is considered to be riskier than URTH 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 | URTH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.65% | 4.00% | +9.65% |
Volatility (6M)Calculated over the trailing 6-month period | 26.17% | 8.70% | +17.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.01% | 11.34% | +42.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.29% | 14.47% | +23.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.29% | 16.70% | +21.59% |
HNSS.L vs. URTH - Expense Ratio Comparison
HNSS.L has a 0.35% expense ratio, which is higher than URTH's 0.24% expense ratio.
Dividends
HNSS.L vs. URTH - Dividend Comparison
HNSS.L has not paid dividends to shareholders, while URTH's dividend yield for the trailing twelve months is around 1.36%.
| 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% |
URTH iShares MSCI World ETF | 1.36% | 1.48% | 1.47% | 1.70% | 1.68% | 1.50% | 1.52% | 2.16% | 2.30% | 1.88% | 2.15% | 2.35% |
Frequently Asked Questions
HNSS.L and URTH have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, URTH is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
URTH is cheaper with a 0.24% expense ratio, compared with 0.35% for HNSS.L.
HNSS.L is categorized as Semiconductors, while URTH is Global Equities. HNSS.L tracks Nasdaq Global Semiconductor Index, while URTH tracks MSCI World Index (Net). They also come from different issuers: HSBC and iShares. Their fees differ too: 0.35% for HNSS.L and 0.24% for URTH.
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