HSTC.L vs. IASH.L

Last updated Jun 5, 2026

HSTC.L (HSBC Hang Seng Tech UCITS ETF) and IASH.L (iShares MSCI China A UCITS USD) are both exchange-traded funds - HSTC.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while IASH.L is a China Equities fund tracking the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 5 years, HSTC.L returned -8.37%/yr vs -0.10%/yr for IASH.L. A 0.66 correlation means they provide meaningful diversification when combined. HSTC.L charges 0.50%/yr vs 0.40%/yr for IASH.L.

Performance

HSTC.L vs. IASH.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC Hang Seng Tech UCITS ETF (HSTC.L) and iShares MSCI China A UCITS USD (IASH.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HSTC.L is traded in GBP, while IASH.L is traded in GBp. To make them comparable, the IASH.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, HSTC.L achieves a -10.22% return, which is significantly lower than IASH.L's 8.70% return.

HSTC.L

• 1D: -0.47%
• 1M: 1.80%
• YTD: -10.22%
• 6M: -12.07%
• 1Y: -4.10%
• 3Y*: 6.84%
• 5Y*: -8.37%
• 10Y*: —

IASH.L

• 1D: -0.75%
• 1M: 2.15%
• YTD: 8.70%
• 6M: 11.91%
• 1Y: 36.97%
• 3Y*: 8.52%
• 5Y*: -0.10%
• 10Y*: 7.04%

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

HSTC.L vs. IASH.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HSTC.L HSBC Hang Seng Tech UCITS ETF	-10.22%	16.17%	21.37%	-13.38%	-19.39%	-31.98%	1.62%
IASH.L iShares MSCI China A UCITS USD	8.70%	17.67%	12.92%	-18.83%	-17.27%	4.48%	3.09%

Correlation

The correlation between HSTC.L and IASH.L is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Dec 11, 2020	0.66

The correlation between HSTC.L and IASH.L has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.

HSTC.L vs. IASH.L - Sectors Allocation Comparison

Sectors	HSTC.L	IASH.L
Consumer Cyclical	40.8%	5.4%
Technology	32.2%	31.0%
Communication Services	25.0%	1.3%
Healthcare	1.9%	3.9%
Basic Materials	-	11.4%
Consumer Defensive	-	6.7%
Energy	-	3.2%
Financial Services	-	17.8%
Industrials	-	15.5%
Real Estate	-	0.6%
Utilities	-	3.2%

Return for Risk

HSTC.L vs. IASH.L — Risk / Return Rank

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

HSTC.L

HSTC.L Risk / Return Rank: 8
HSTC.L Sharpe Ratio Rank: 7
HSTC.L Sortino Ratio Rank: 8
HSTC.L Omega Ratio Rank: 8
HSTC.L Calmar Ratio Rank: 8
HSTC.L Martin Ratio Rank: 8

IASH.L

IASH.L Risk / Return Rank: 77
IASH.L Sharpe Ratio Rank: 74
IASH.L Sortino Ratio Rank: 71
IASH.L Omega Ratio Rank: 73
IASH.L Calmar Ratio Rank: 90
IASH.L Martin Ratio Rank: 79

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.

HSTC.L vs. IASH.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC Hang Seng Tech UCITS ETF (HSTC.L) and iShares MSCI China A UCITS USD (IASH.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.

	HSTC.L	IASH.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.16	2.36	-2.52
Sortino ratio: Return per unit of downside risk	-0.05	3.18	-3.23
Omega ratio: Gain probability vs. loss probability	0.99	1.42	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.14	5.48	-5.61
Martin ratio: Return relative to average drawdown	-0.25	15.07	-15.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HSTC.L vs. IASH.L - Sharpe Ratio Comparison

The current HSTC.L Sharpe Ratio is -0.16, which is lower than the IASH.L Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of HSTC.L and IASH.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

	HSTC.L	IASH.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.16	2.36	-2.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	-0.00	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	0.09	-0.31

Drawdowns

HSTC.L vs. IASH.L - Drawdown Comparison

The maximum HSTC.L drawdown since its inception was -69.93%, which is greater than IASH.L's maximum drawdown of -48.39%. Use the drawdown chart below to compare losses from any high point for HSTC.L and IASH.L.

Drawdown Indicators

	HSTC.L	IASH.L	Difference
Max Drawdown Largest peak-to-trough decline	-69.93%	-48.39%	-21.54%
Max Drawdown (1Y) Largest decline over 1 year	-29.97%	-6.72%	-23.25%
Max Drawdown (3Y) Largest decline over 3 years	-33.73%	-25.77%	-7.96%
Max Drawdown (5Y) Largest decline over 5 years	-60.66%	-42.23%	-18.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.67%	—
Current Drawdown Current decline from peak	-52.55%	-10.73%	-41.82%
Average Drawdown Average peak-to-trough decline	-50.05%	-24.71%	-25.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.69%	2.45%	+14.24%

Volatility

HSTC.L vs. IASH.L - Volatility Comparison

HSBC Hang Seng Tech UCITS ETF (HSTC.L) has a higher volatility of 10.05% compared to iShares MSCI China A UCITS USD (IASH.L) at 5.76%. This indicates that HSTC.L's price experiences larger fluctuations and is considered to be riskier than IASH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HSTC.L	IASH.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.05%	5.76%	+4.29%
Volatility (6M) Calculated over the trailing 6-month period	18.62%	10.68%	+7.94%
Volatility (1Y) Calculated over the trailing 1-year period	25.80%	15.60%	+10.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.00%	21.27%	+16.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.64%	22.78%	+14.86%

HSTC.L vs. IASH.L - Expense Ratio Comparison

HSTC.L has a 0.50% expense ratio, which is higher than IASH.L's 0.40% expense ratio.

Dividends

HSTC.L vs. IASH.L - Dividend Comparison

Neither HSTC.L nor IASH.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both HSTC.L and IASH.L in my portfolio?

HSTC.L and IASH.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HSTC.L or IASH.L?

On fees, IASH.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HSTC.L or IASH.L?

IASH.L is cheaper with a 0.40% expense ratio, compared with 0.50% for HSTC.L.

What is the main difference between HSTC.L and IASH.L?

HSTC.L is categorized as Technology Equities, while IASH.L is China Equities. HSTC.L tracks MSCI World/Information Tech NR USD, while IASH.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.50% for HSTC.L and 0.40% for IASH.L.