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HSTE.L vs. ACWI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HSTE.L vs. ACWI

Last updated Jun 14, 2026

HSTE.L (HSBC Hang Seng Tech UCITS ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - HSTE.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 5 years, HSTE.L returned -9.96%/yr vs 10.88%/yr for ACWI. At a 0.38 correlation, their price movements are largely independent. HSTE.L charges 0.50%/yr vs 0.32%/yr for ACWI.

Performance

HSTE.L vs. ACWI - Performance Comparison

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

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Returns By Period

In the year-to-date period, HSTE.L achieves a -15.63% return, which is significantly lower than ACWI's 10.59% return.

HSTE.L

1D
1.56%
1M
-7.38%
YTD
-15.63%
6M
-15.96%
1Y
-10.18%
3Y*
5.51%
5Y*
-9.96%
10Y*
—

ACWI

1D
0.41%
1M
-0.11%
YTD
10.59%
6M
11.34%
1Y
26.86%
3Y*
19.78%
5Y*
10.88%
10Y*
13.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HSTE.L vs. ACWI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
HSTE.L
HSBC Hang Seng Tech UCITS ETF		-15.63%24.64%19.65%-8.46%-27.99%-32.88%-86.54%
ACWI
iShares MSCI ACWI ETF		10.59%22.41%17.45%22.27%-18.39%18.66%1.83%

Correlation

The correlation between HSTE.L and ACWI is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.44

Correlation (3Y)
Calculated over the trailing 3-year period

0.38

Correlation (5Y)
Calculated over the trailing 5-year period

0.38

Correlation (All Time)
Calculated using the full available price history since Dec 9, 2020

0.38

HSTE.L vs. ACWI - Sectors Allocation Comparison

Sectors
HSTE.L
ACWI

Consumer Cyclical

41.0%
8.7%

Technology

31.6%
32.2%

Communication Services

25.5%
8.2%

Healthcare

1.9%
8.1%

Basic Materials

-

3.6%

Consumer Defensive

-

4.7%

Energy

-

3.9%

Financial Services

-

15.6%

Industrials

-

10.2%

Real Estate

-

1.6%

Utilities

-

2.7%

Consumer Cyclical

HSTE.L
41.0%
ACWI
8.7%

Technology

HSTE.L
31.6%
ACWI
32.2%

Communication Services

HSTE.L
25.5%
ACWI
8.2%

Healthcare

HSTE.L
1.9%
ACWI
8.1%

Basic Materials

HSTE.L

-

ACWI
3.6%

Consumer Defensive

HSTE.L

-

ACWI
4.7%

Energy

HSTE.L

-

ACWI
3.9%

Financial Services

HSTE.L

-

ACWI
15.6%

Industrials

HSTE.L

-

ACWI
10.2%

Real Estate

HSTE.L

-

ACWI
1.6%

Utilities

HSTE.L

-

ACWI
2.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

HSBC Hang Seng Tech UCITS ETF

iShares MSCI ACWI ETF

Often compared with HSTE.L:
HSTE.L vs. HSTC.LHSTE.L vs. KTECHSTE.L vs. 0700.HKHSTE.L vs. ^HSIHSTE.L vs. VOOHSTE.L vs. ^NDXHSTE.L vs. BRK-B
Often compared with ACWI:
ACWI vs. VTACWI vs. SPYACWI vs. VWRL.LACWI vs. ACWXACWI vs. ACWI.LACWI vs. VOOACWI vs. VTI

Return for Risk

HSTE.L vs. ACWI — 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: 66
Overall Rank
HSTE.L Sharpe Ratio Rank: 66
Sharpe Ratio Rank
HSTE.L Sortino Ratio Rank: 66
Sortino Ratio Rank
HSTE.L Omega Ratio Rank: 66
Omega Ratio Rank
HSTE.L Calmar Ratio Rank: 66
Calmar Ratio Rank
HSTE.L Martin Ratio Rank: 66
Martin Ratio Rank
ACWI
ACWI Risk / Return Rank: 6767
Overall Rank
ACWI Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
ACWI Sortino Ratio Rank: 6666
Sortino Ratio Rank
ACWI Omega Ratio Rank: 6767
Omega Ratio Rank
ACWI Calmar Ratio Rank: 6161
Calmar Ratio Rank
ACWI Martin Ratio Rank: 7171
Martin Ratio Rank
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. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC Hang Seng Tech UCITS ETF (HSTE.L) and iShares MSCI ACWI ETF (ACWI). 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.LACWIDifference
Sharpe ratioReturn per unit of total volatility
-0.44
1.90

-2.34

Sortino ratioReturn per unit of downside risk
-0.47
2.62

-3.09

Omega ratioGain probability vs. loss probability

0.95

1.35

-0.40

Calmar ratioReturn relative to maximum drawdown

-0.39

2.62

-3.02

Martin ratioReturn relative to average drawdown

-0.71

11.46

-12.17

HSTE.L vs. ACWI - Sharpe Ratio Comparison

The current HSTE.L Sharpe Ratio is -0.44, which is lower than the ACWI Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of HSTE.L and ACWI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HSTE.L vs. ACWI - Drawdown Comparison

The maximum HSTE.L drawdown since its inception was -95.65%, which is greater than ACWI's maximum drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for HSTE.L and ACWI.

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Drawdown Indicators

HSTE.LACWIDifference

Max Drawdown

Largest peak-to-trough decline

-95.65%

-56.00%

-39.65%

Max Drawdown (1Y)

Largest decline over 1 year

-31.01%

-9.73%

-21.28%

Max Drawdown (3Y)

Largest decline over 3 years

-34.96%

-16.55%

-18.41%

Max Drawdown (5Y)

Largest decline over 5 years

-67.13%

-26.42%

-40.71%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.53%

—

Current Drawdown

Current decline from peak

-92.51%

-2.19%

-90.32%

Average Drawdown

Average peak-to-trough decline

-91.79%

-8.60%

-83.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

17.20%

2.22%

+14.98%

Volatility

HSTE.L vs. ACWI - Volatility Comparison

HSBC Hang Seng Tech UCITS ETF (HSTE.L) has a higher volatility of 9.98% compared to iShares MSCI ACWI ETF (ACWI) at 5.17%. This indicates that HSTE.L's price experiences larger fluctuations and is considered to be riskier than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HSTE.LACWIDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.98%

5.17%

+4.81%

Volatility (6M)

Calculated over the trailing 6-month period

20.46%

11.09%

+9.37%

Volatility (1Y)

Calculated over the trailing 1-year period

27.54%

13.42%

+14.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.39%

16.15%

+23.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

53.79%

17.14%

+36.65%

HSTE.L vs. ACWI - Expense Ratio Comparison

HSTE.L has a 0.50% expense ratio, which is higher than ACWI's 0.32% expense ratio.

Dividends

HSTE.L vs. ACWI - Dividend Comparison

HSTE.L has not paid dividends to shareholders, while ACWI's dividend yield for the trailing twelve months is around 1.40%.

PositionTTM20252024202320222021202020192018201720162015
ACWI
iShares MSCI ACWI ETF		1.40%1.55%1.70%1.88%1.79%1.71%1.43%2.33%2.18%1.94%2.19%2.56%
HSTE.L
HSBC Hang Seng Tech UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HSTE.L and ACWI have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ACWI is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ACWI is cheaper with a 0.32% expense ratio, compared with 0.50% for HSTE.L.

HSTE.L is categorized as Technology Equities, while ACWI is Global Equities. HSTE.L tracks MSCI World/Information Tech NR USD, while ACWI tracks MSCI All Country World Index. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.50% for HSTE.L and 0.32% for ACWI.

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