HPRO.L vs. HSTE.L

Last updated Jun 4, 2026

HPRO.L (HSBC FTSE EPRA/NAREIT Developed UCITS ETF) and HSTE.L (HSBC Hang Seng Tech UCITS ETF) are both exchange-traded funds - HPRO.L is a REIT fund tracking the FTSE EPRA Nareit Global TR USD, while HSTE.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 5 years, HPRO.L returned -0.95%/yr vs -8.23%/yr for HSTE.L. At a 0.20 correlation, their price movements are largely independent. HPRO.L charges 0.24%/yr vs 0.50%/yr for HSTE.L.

Performance

HPRO.L vs. HSTE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC FTSE EPRA/NAREIT Developed UCITS ETF (HPRO.L) and HSBC Hang Seng Tech UCITS ETF (HSTE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HPRO.L is traded in GBp, while HSTE.L is traded in USD. To make them comparable, the HSTE.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, HPRO.L achieves a 5.03% return, which is significantly higher than HSTE.L's -9.47% return.

HPRO.L

• 1D: 0.60%
• 1M: -1.03%
• YTD: 5.03%
• 6M: 4.88%
• 1Y: 9.37%
• 3Y*: 3.03%
• 5Y*: -0.95%
• 10Y*: 1.14%

HSTE.L

• 1D: -2.93%
• 1M: 1.85%
• YTD: -9.47%
• 6M: -10.18%
• 1Y: -1.64%
• 3Y*: 6.83%
• 5Y*: -8.23%
• 10Y*: —

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

HPRO.L vs. HSTE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HPRO.L HSBC FTSE EPRA/NAREIT Developed UCITS ETF	5.03%	0.35%	-1.94%	1.11%	-18.31%	24.70%	-1.08%
HSTE.L HSBC Hang Seng Tech UCITS ETF	-9.47%	15.69%	21.79%	-13.02%	-19.43%	-32.25%	1.68%

Correlation

The correlation between HPRO.L and HSTE.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Dec 11, 2020	0.20

HPRO.L vs. HSTE.L - Sectors Allocation Comparison

Sectors	HPRO.L	HSTE.L
Real Estate	99.6%	-
Technology	0.4%	32.2%
Consumer Cyclical	0.0%	40.8%
Financial Services	0.0%	-
Basic Materials	-	-
Communication Services	-	25.0%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	1.9%
Industrials	-	-
Utilities	-	-

Return for Risk

HPRO.L vs. HSTE.L — Risk / Return Rank

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

HPRO.L

HPRO.L Risk / Return Rank: 23
HPRO.L Sharpe Ratio Rank: 24
HPRO.L Sortino Ratio Rank: 23
HPRO.L Omega Ratio Rank: 22
HPRO.L Calmar Ratio Rank: 23
HPRO.L Martin Ratio Rank: 25

HSTE.L

HSTE.L Risk / Return Rank: 8
HSTE.L Sharpe Ratio Rank: 8
HSTE.L Sortino Ratio Rank: 8
HSTE.L Omega Ratio Rank: 8
HSTE.L Calmar Ratio Rank: 8
HSTE.L Martin Ratio Rank: 8

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.

HPRO.L vs. HSTE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC FTSE EPRA/NAREIT Developed UCITS ETF (HPRO.L) and HSBC Hang Seng Tech UCITS ETF (HSTE.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.

	HPRO.L	HSTE.L	Difference
Sharpe ratio: Return per unit of total volatility	0.85	-0.06	+0.91
Sortino ratio: Return per unit of downside risk	1.27	0.10	+1.17
Omega ratio: Gain probability vs. loss probability	1.15	1.01	+0.14
Calmar ratio: Return relative to maximum drawdown	1.04	-0.05	+1.10
Martin ratio: Return relative to average drawdown	3.30	-0.10	+3.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HPRO.L vs. HSTE.L - Sharpe Ratio Comparison

The current HPRO.L Sharpe Ratio is 0.85, which is higher than the HSTE.L Sharpe Ratio of -0.06. The chart below compares the historical Sharpe Ratios of HPRO.L and HSTE.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HPRO.L	HSTE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	-0.06	+0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	-0.22	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	-0.22	+0.43

Drawdowns

HPRO.L vs. HSTE.L - Drawdown Comparison

The maximum HPRO.L drawdown since its inception was -36.31%, smaller than the maximum HSTE.L drawdown of -69.87%. Use the drawdown chart below to compare losses from any high point for HPRO.L and HSTE.L.

Drawdown Indicators

	HPRO.L	HSTE.L	Difference
Max Drawdown Largest peak-to-trough decline	-36.31%	-69.87%	+33.56%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	-29.96%	+21.00%
Max Drawdown (3Y) Largest decline over 3 years	-17.45%	-33.85%	+16.40%
Max Drawdown (5Y) Largest decline over 5 years	-30.68%	-60.64%	+29.96%
Max Drawdown (10Y) Largest decline over 10 years	-36.31%	—	—
Current Drawdown Current decline from peak	-15.56%	-52.10%	+36.54%
Average Drawdown Average peak-to-trough decline	-12.02%	-49.98%	+37.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	16.42%	-13.59%

Volatility

HPRO.L vs. HSTE.L - Volatility Comparison

The current volatility for HSBC FTSE EPRA/NAREIT Developed UCITS ETF (HPRO.L) is 3.15%, while HSBC Hang Seng Tech UCITS ETF (HSTE.L) has a volatility of 10.34%. This indicates that HPRO.L experiences smaller price fluctuations and is considered to be less risky than HSTE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HPRO.L	HSTE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	10.34%	-7.19%
Volatility (6M) Calculated over the trailing 6-month period	8.74%	19.23%	-10.49%
Volatility (1Y) Calculated over the trailing 1-year period	10.95%	26.54%	-15.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.06%	38.02%	-23.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.60%	37.71%	-22.11%

HPRO.L vs. HSTE.L - Expense Ratio Comparison

HPRO.L has a 0.24% expense ratio, which is lower than HSTE.L's 0.50% expense ratio.

Dividends

HPRO.L vs. HSTE.L - Dividend Comparison

HPRO.L's dividend yield for the trailing twelve months is around 0.03%, while HSTE.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HPRO.L HSBC FTSE EPRA/NAREIT Developed UCITS ETF	0.03%	0.03%	0.03%	0.03%	0.03%	0.02%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
HSTE.L HSBC Hang Seng Tech 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%

Frequently Asked Questions

Can I hold both HPRO.L and HSTE.L in my portfolio?

HPRO.L and HSTE.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HPRO.L or HSTE.L?

On fees, HPRO.L is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HPRO.L or HSTE.L?

HPRO.L is cheaper with a 0.24% expense ratio, compared with 0.50% for HSTE.L.

What is the main difference between HPRO.L and HSTE.L?

HPRO.L is categorized as REIT, while HSTE.L is Technology Equities. HPRO.L tracks FTSE EPRA Nareit Global TR USD, while HSTE.L tracks MSCI World/Information Tech NR USD. Their fees differ too: 0.24% for HPRO.L and 0.50% for HSTE.L.