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 -8.55%/yr vs -2.94%/yr for ^HSI. A 0.63 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 -13.70% return, which is significantly lower than ^HSI's -5.71% return.
HSTE.L
- 1D
- 2.14%
- 1M
- 0.30%
- 6M
- -18.64%
- YTD
- -13.70%
- 1Y
- -11.29%
- 3Y*
- 5.00%
- 5Y*
- -8.55%
- 10Y*
- —
^HSI
- 1D
- 0.00%
- 1M
- -2.06%
- 6M
- -10.31%
- YTD
- -5.71%
- 1Y
- -0.86%
- 3Y*
- 7.72%
- 5Y*
- -2.94%
- 10Y*
- 1.07%
HSTE.L vs. ^HSI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HSTE.L HSBC Hang Seng Tech UCITS ETF | -13.70% | 24.64% | 19.65% | -8.46% | -27.99% | -32.88% | -86.54% |
^HSI Hang Seng Index | -5.71% | 27.55% | 18.27% | -13.81% | -15.60% | -14.56% | 3.51% |
Correlation
The correlation between HSTE.L and ^HSI is 0.59, 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 | 0.59 |
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 9, 2020 | 0.63 |
The correlation between HSTE.L and ^HSI has been stable across timeframes, ranging from 0.59 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.
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.
| HSTE.L | ^HSI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.01 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | -0.05 | -0.27 |
| Martin ratioReturn relative to average drawdown | -0.57 | -0.12 | -0.45 |
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Drawdowns
HSTE.L vs. ^HSI - Drawdown Comparison
The maximum HSTE.L drawdown since its inception was -95.65%, 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 | -95.65% | -65.19% | -30.46% |
Max Drawdown (1Y)Largest decline over 1 year | -35.09% | -19.31% | -15.78% |
Max Drawdown (3Y)Largest decline over 3 years | -35.09% | -25.67% | -9.42% |
Max Drawdown (5Y)Largest decline over 5 years | -63.71% | -48.10% | -15.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.87% | — |
Current DrawdownCurrent decline from peak | -92.33% | -26.76% | -65.57% |
Average DrawdownAverage peak-to-trough decline | -91.81% | -28.77% | -63.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.67% | 7.13% | +12.54% |
Volatility
HSTE.L vs. ^HSI - Volatility Comparison
HSBC Hang Seng Tech UCITS ETF (HSTE.L) has a higher volatility of 8.04% compared to Hang Seng Index (^HSI) at 5.71%. 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 | 8.04% | 5.71% | +2.33% |
Volatility (6M)Calculated over the trailing 6-month period | 21.08% | 14.16% | +6.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.05% | 18.92% | +9.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.45% | 25.49% | +13.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.48% | 22.04% | +31.44% |
Frequently Asked Questions
HSTE.L and ^HSI have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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