HSTE.L vs. ^NDX

Last updated Apr 2, 2026

Compare and contrast key facts about HSBC Hang Seng Tech UCITS ETF (HSTE.L) and NASDAQ 100 Index (^NDX).

HSTE.L is a passively managed fund by HSBC that tracks the performance of the MSCI World/Information Tech NR USD. It was launched on Dec 9, 2020.

Performance

HSTE.L vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC Hang Seng Tech UCITS ETF (HSTE.L) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

HSTE.L vs. ^NDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HSTE.L HSBC Hang Seng Tech UCITS ETF	-14.40%	24.57%	19.70%	-8.44%	-27.99%	-32.88%	4.51%
^NDX NASDAQ 100 Index	-4.87%	20.17%	24.88%	53.81%	-32.97%	26.63%	3.92%

Returns By Period

In the year-to-date period, HSTE.L achieves a -14.40% return, which is significantly lower than ^NDX's -4.87% return.

HSTE.L

• 1D: 1.43%
• 1M: -4.12%
• YTD: -14.40%
• 6M: -26.60%
• 1Y: -12.26%
• 3Y*: 3.87%
• 5Y*: -11.04%
• 10Y*: —

^NDX

• 1D: 1.18%
• 1M: -3.89%
• YTD: -4.87%
• 6M: -3.15%
• 1Y: 23.58%
• 3Y*: 22.14%
• 5Y*: 12.50%
• 10Y*: 18.15%

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

Return for Risk

HSTE.L vs. ^NDX — Risk / Return Rank

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

HSTE.L

HSTE.L Risk / Return Rank: 5
HSTE.L Sharpe Ratio Rank: 5
HSTE.L Sortino Ratio Rank: 5
HSTE.L Omega Ratio Rank: 5
HSTE.L Calmar Ratio Rank: 6
HSTE.L Martin Ratio Rank: 5

^NDX

^NDX Risk / Return Rank: 76
^NDX Sharpe Ratio Rank: 70
^NDX Sortino Ratio Rank: 74
^NDX Omega Ratio Rank: 74
^NDX Calmar Ratio Rank: 81
^NDX Martin Ratio Rank: 80

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.

HSTE.L vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC Hang Seng Tech UCITS ETF (HSTE.L) and NASDAQ 100 Index (^NDX). 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	^NDX	Difference
Sharpe ratio Return per unit of total volatility	-0.42	1.04	-1.46
Sortino ratio Return per unit of downside risk	-0.41	1.62	-2.04
Omega ratio Gain probability vs. loss probability	0.95	1.23	-0.28
Calmar ratio Return relative to maximum drawdown	-0.38	1.93	-2.32
Martin ratio Return relative to average drawdown	-0.89	7.05	-7.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HSTE.L vs. ^NDX - Sharpe Ratio Comparison

The current HSTE.L Sharpe Ratio is -0.42, which is lower than the ^NDX Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of HSTE.L and ^NDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HSTE.L	^NDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.42	1.04	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	0.56	-0.84
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.81	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	0.55	-0.79

Correlation

The correlation between HSTE.L and ^NDX is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

HSTE.L vs. ^NDX - Drawdown Comparison

The maximum HSTE.L drawdown since its inception was -74.82%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for HSTE.L and ^NDX.

Drawdown Indicators

	HSTE.L	^NDX	Difference
Max Drawdown Largest peak-to-trough decline	-74.82%	-82.90%	+8.08%
Max Drawdown (1Y) Largest decline over 1 year	-29.99%	-12.72%	-17.27%
Max Drawdown (5Y) Largest decline over 5 years	-68.29%	-35.56%	-32.73%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.56%	—
Current Drawdown Current decline from peak	-55.99%	-8.04%	-47.95%
Average Drawdown Average peak-to-trough decline	-52.73%	-24.72%	-28.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.93%	3.49%	+9.44%

Volatility

HSTE.L vs. ^NDX - Volatility Comparison

HSBC Hang Seng Tech UCITS ETF (HSTE.L) has a higher volatility of 8.82% compared to NASDAQ 100 Index (^NDX) at 6.65%. This indicates that HSTE.L's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HSTE.L	^NDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.82%	6.65%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	18.73%	12.93%	+5.80%
Volatility (1Y) Calculated over the trailing 1-year period	28.94%	22.77%	+6.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.12%	22.61%	+16.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.19%	22.48%	+16.71%