HSBH vs. IAI

Last updated Jun 14, 2026

HSBH (HSBC Holdings plc ADRhedged ETF) and IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF) are both Financials Equities funds - HSBH tracks the HSBC Holdings plc Local Shares Total Return while IAI tracks the DJ US Select / Investment Services. Both are passively managed. Over the past year, HSBH returned 63.30% vs 21.00% for IAI. At a 0.42 correlation, their price movements are largely independent. HSBH charges 0.19%/yr vs 0.41%/yr for IAI.

Performance

HSBH vs. IAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC Holdings plc ADRhedged ETF (HSBH) and iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HSBH achieves a 21.18% return, which is significantly higher than IAI's 3.17% return.

HSBH

• 1D: 2.05%
• 1M: 2.42%
• YTD: 21.18%
• 6M: 26.13%
• 1Y: 63.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IAI

• 1D: 1.83%
• 1M: 2.57%
• YTD: 3.17%
• 6M: 2.78%
• 1Y: 21.00%
• 3Y*: 28.06%
• 5Y*: 14.44%
• 10Y*: 19.37%

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

HSBH vs. IAI - Yearly Performance Comparison

	2026 (YTD)	2025
HSBH HSBC Holdings plc ADRhedged ETF	21.18%	39.95%
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF	3.17%	35.37%

Correlation

The correlation between HSBH and IAI is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	0.42

HSBH vs. IAI - Sectors Allocation Comparison

Sectors	HSBH	IAI
Financial Services	97.4%	99.9%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	0.1%
Utilities	-	-

Return for Risk

HSBH vs. IAI — Risk / Return Rank

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

HSBH

HSBH Risk / Return Rank: 85
HSBH Sharpe Ratio Rank: 88
HSBH Sortino Ratio Rank: 85
HSBH Omega Ratio Rank: 84
HSBH Calmar Ratio Rank: 84
HSBH Martin Ratio Rank: 83

IAI

IAI Risk / Return Rank: 29
IAI Sharpe Ratio Rank: 31
IAI Sortino Ratio Rank: 30
IAI Omega Ratio Rank: 29
IAI Calmar Ratio Rank: 27
IAI Martin Ratio Rank: 27

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.

HSBH vs. IAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC Holdings plc ADRhedged ETF (HSBH) and iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI). 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.

	HSBH	IAI	Difference
Sharpe ratio: Return per unit of total volatility	2.59	1.00	+1.60
Sortino ratio: Return per unit of downside risk	3.36	1.43	+1.93
Omega ratio: Gain probability vs. loss probability	1.45	1.18	+0.28
Calmar ratio: Return relative to maximum drawdown	4.15	1.17	+2.97
Martin ratio: Return relative to average drawdown	15.03	3.33	+11.70

HSBH vs. IAI - Sharpe Ratio Comparison

The current HSBH Sharpe Ratio is 2.59, which is higher than the IAI Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of HSBH and IAI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HSBH vs. IAI - Drawdown Comparison

The maximum HSBH drawdown since its inception was -14.81%, smaller than the maximum IAI drawdown of -75.46%. Use the drawdown chart below to compare losses from any high point for HSBH and IAI.

Drawdown Indicators

	HSBH	IAI	Difference
Max Drawdown Largest peak-to-trough decline	-14.81%	-75.46%	+60.65%
Max Drawdown (1Y) Largest decline over 1 year	-14.81%	-16.52%	+1.71%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.38%	—
Current Drawdown Current decline from peak	-2.22%	-2.81%	+0.59%
Average Drawdown Average peak-to-trough decline	-2.37%	-22.63%	+20.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.08%	5.80%	-1.72%

Volatility

HSBH vs. IAI - Volatility Comparison

HSBC Holdings plc ADRhedged ETF (HSBH) has a higher volatility of 8.89% compared to iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) at 5.98%. This indicates that HSBH's price experiences larger fluctuations and is considered to be riskier than IAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HSBH	IAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.89%	5.98%	+2.91%
Volatility (6M) Calculated over the trailing 6-month period	19.32%	15.34%	+3.98%
Volatility (1Y) Calculated over the trailing 1-year period	23.69%	19.44%	+4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.01%	21.48%	+1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.01%	22.85%	+0.16%

HSBH vs. IAI - Expense Ratio Comparison

HSBH has a 0.19% expense ratio, which is lower than IAI's 0.41% expense ratio.

Dividends

HSBH vs. IAI - Dividend Comparison

HSBH's dividend yield for the trailing twelve months is around 0.34%, less than IAI's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HSBH HSBC Holdings plc ADRhedged ETF	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF	1.05%	0.95%	1.05%	1.80%	2.14%	1.31%	1.55%	1.52%	1.58%	1.37%	1.49%	1.31%

Frequently Asked Questions

Can I hold both HSBH and IAI in my portfolio?

HSBH and IAI have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HSBH or IAI?

HSBH has higher volatility (8.89%) compared to IAI (5.98%). In terms of maximum drawdown, HSBH dropped -14.81% vs IAI's -75.46%.

Which ETF is better, HSBH or IAI?

On 1-year performance, HSBH leads with 63.30% vs 21.00% for IAI. On fees, HSBH is cheaper at 0.19% per year. On volatility, IAI has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HSBH or IAI?

Over the 1-year period, HSBH has performed better with a 63.30% return vs 21.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HSBH or IAI?

HSBH is cheaper with a 0.19% expense ratio, compared with 0.41% for IAI.

Which ETF pays a higher dividend yield, HSBH or IAI?

IAI has the higher dividend yield at 1.05%, compared with 0.34% for HSBH.

What is the main difference between HSBH and IAI?

HSBH tracks HSBC Holdings plc Local Shares Total Return, while IAI tracks DJ US Select / Investment Services. They also come from different issuers: ADRhedged and iShares. Their fees differ too: 0.19% for HSBH and 0.41% for IAI.

Which has better risk-adjusted returns?

HSBH currently has the higher Sharpe Ratio (2.59 vs 1.00), 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.