HSTE.L vs. ^HSI
HSTE.L (HSBC Hang Seng Tech UCITS ETF) is Technology Equities fund tracking the MSCI World/Information Tech NR USD, while ^HSI (Hang Seng Index) is an index. Over the past 5 years, HSTE.L returned -9.33%/yr vs -2.86%/yr for ^HSI. A 0.64 correlation means they provide meaningful diversification when combined.
Performance
HSTE.L vs. ^HSI - Performance Comparison
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Different Trading Currencies
HSTE.L is traded in USD, while ^HSI is traded in HKD. To make them comparable, the ^HSI values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HSTE.L achieves a -10.40% return, which is significantly lower than ^HSI's -2.08% return.
HSTE.L
- 1D
- -0.67%
- 1M
- 0.94%
- YTD
- -10.40%
- 6M
- -11.48%
- 1Y
- -4.91%
- 3Y*
- 9.68%
- 5Y*
- -9.33%
- 10Y*
- —
^HSI
- 1D
- -1.41%
- 1M
- -2.42%
- YTD
- -2.08%
- 6M
- -3.22%
- 1Y
- 6.95%
- 3Y*
- 9.78%
- 5Y*
- -2.86%
- 10Y*
- 1.77%
HSTE.L vs. ^HSI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HSTE.L HSBC Hang Seng Tech UCITS ETF | -10.40% | 24.57% | 19.70% | -8.44% | -27.99% | -32.88% | 4.51% |
^HSI Hang Seng Index | -2.08% | 27.55% | 18.27% | -13.81% | -15.60% | -14.56% | 3.09% |
Correlation
The correlation between HSTE.L and ^HSI 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 | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2020 | 0.64 |
The correlation between HSTE.L and ^HSI has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.
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Return for Risk
HSTE.L vs. ^HSI — Risk / Return Rank
HSTE.L
^HSI
HSTE.L vs. ^HSI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Hang Seng Tech UCITS ETF (HSTE.L) and Hang Seng Index (^HSI). 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.
| HSTE.L | ^HSI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.08 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 0.54 | -0.70 |
| Martin ratioReturn relative to average drawdown | -0.30 | 1.35 | -1.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HSTE.L | ^HSI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.18 | 0.39 | -0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | -0.12 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.08 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.22 | 0.03 | -0.25 |
Drawdowns
HSTE.L vs. ^HSI - Drawdown Comparison
The maximum HSTE.L drawdown since its inception was -74.82%, which is greater than ^HSI's maximum drawdown of -65.19%. Use the drawdown chart below to compare losses from any high point for HSTE.L and ^HSI.
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Drawdown Indicators
| HSTE.L | ^HSI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.82% | -65.19% | -9.63% |
Max Drawdown (1Y)Largest decline over 1 year | -30.70% | -13.13% | -17.57% |
Max Drawdown (3Y)Largest decline over 3 years | -34.92% | -25.67% | -9.25% |
Max Drawdown (5Y)Largest decline over 5 years | -67.13% | -50.41% | -16.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.87% | — |
Current DrawdownCurrent decline from peak | -53.93% | -23.94% | -29.99% |
Average DrawdownAverage peak-to-trough decline | -52.77% | -28.60% | -24.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.59% | 5.21% | +11.38% |
Volatility
HSTE.L vs. ^HSI - Volatility Comparison
HSBC Hang Seng Tech UCITS ETF (HSTE.L) has a higher volatility of 10.94% compared to Hang Seng Index (^HSI) at 5.14%. This indicates that HSTE.L's price experiences larger fluctuations and is considered to be riskier than ^HSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSTE.L | ^HSI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.94% | 5.14% | +5.80% |
Volatility (6M)Calculated over the trailing 6-month period | 20.11% | 13.70% | +6.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.47% | 18.52% | +8.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.38% | 25.45% | +13.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.03% | 22.06% | +16.97% |
Frequently Asked Questions
HSTE.L and ^HSI 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.
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