HSBC vs. USFR
HSBC (HSBC Holdings plc) is a stock, while USFR (WisdomTree Floating Rate Treasury Fund) is Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Over the past 10 years, HSBC returned 18.55%/yr vs 2.43%/yr for USFR. At a 0.00 correlation, their price movements are largely independent.
Performance
HSBC vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, HSBC achieves a 25.62% return, which is significantly higher than USFR's 1.82% return. Over the past 10 years, HSBC has outperformed USFR with an annualized return of 18.55%, while USFR has yielded a comparatively lower 2.43% annualized return.
HSBC
- 1D
- -0.95%
- 1M
- 3.88%
- YTD
- 25.62%
- 6M
- 24.65%
- 1Y
- 70.17%
- 3Y*
- 45.60%
- 5Y*
- 34.49%
- 10Y*
- 18.55%
USFR
- 1D
- 0.04%
- 1M
- 0.33%
- YTD
- 1.82%
- 6M
- 1.92%
- 1Y
- 3.99%
- 3Y*
- 4.74%
- 5Y*
- 3.71%
- 10Y*
- 2.43%
HSBC vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSBC HSBC Holdings plc | 25.62% | 67.91% | 34.48% | 39.45% | 7.79% | 20.76% | -31.71% | 1.44% | -16.05% | 36.04% |
USFR WisdomTree Floating Rate Treasury Fund | 1.82% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
Correlation
The correlation between HSBC and USFR is -0.09, 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 | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | 0.00 |
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Return for Risk
HSBC vs. USFR — Risk / Return Rank
HSBC
USFR
HSBC vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Holdings plc (HSBC) and WisdomTree Floating Rate Treasury Fund (USFR). 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.
| HSBC | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -12.06 | ||
| Sortino ratioReturn per unit of downside risk | -46.81 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 13.31 | -11.86 |
| Calmar ratioReturn relative to maximum drawdown | 4.33 | 201.33 | -197.00 |
| Martin ratioReturn relative to average drawdown | 15.29 | 779.76 | -764.48 |
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Drawdowns
HSBC vs. USFR - Drawdown Comparison
The maximum HSBC drawdown since its inception was -74.47%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for HSBC and USFR.
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Drawdown Indicators
| HSBC | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.47% | -1.36% | -73.11% |
Max Drawdown (1Y)Largest decline over 1 year | -16.28% | -0.02% | -16.26% |
Max Drawdown (3Y)Largest decline over 3 years | -21.83% | -0.06% | -21.77% |
Max Drawdown (5Y)Largest decline over 5 years | -31.80% | -0.18% | -31.62% |
Max Drawdown (10Y)Largest decline over 10 years | -62.26% | -0.80% | -61.46% |
Current DrawdownCurrent decline from peak | -0.95% | 0.00% | -0.95% |
Average DrawdownAverage peak-to-trough decline | -24.07% | -0.15% | -23.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.60% | 0.01% | +4.59% |
Volatility
HSBC vs. USFR - Volatility Comparison
HSBC Holdings plc (HSBC) has a higher volatility of 9.08% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.09%. This indicates that HSBC's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSBC | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.08% | 0.09% | +8.99% |
Volatility (6M)Calculated over the trailing 6-month period | 22.24% | 0.19% | +22.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.99% | 0.27% | +26.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.94% | 0.40% | +25.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.43% | 0.78% | +24.65% |
Dividends
HSBC vs. USFR - Dividend Comparison
HSBC's dividend yield for the trailing twelve months is around 3.92%, which matches USFR's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSBC HSBC Holdings plc | 3.92% | 4.19% | 8.29% | 6.54% | 4.33% | 3.65% | 4.05% | 6.52% | 6.20% | 4.94% | 6.35% | 6.33% |
USFR WisdomTree Floating Rate Treasury Fund | 3.90% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% | 0.00% |
Frequently Asked Questions
HSBC and USFR have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSBC has higher volatility (9.08%) compared to USFR (0.09%). In terms of maximum drawdown, HSBC dropped -74.47% vs USFR's -1.36%.
USFR currently has the higher Sharpe Ratio (14.67 vs 2.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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