HSTE.L vs. HNSC.L

Last updated Jun 5, 2026

HSTE.L (HSBC Hang Seng Tech UCITS ETF) and HNSC.L (HSBC Nasdaq Global Semiconductor UCITS ETF USD) are both exchange-traded funds - HSTE.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while HNSC.L is a Semiconductors fund tracking the Nasdaq Global Semiconductor. Both are passively managed. Over the past 3 years, HSTE.L returned 9.68%/yr vs 62.69%/yr for HNSC.L. At a 0.27 correlation, their price movements are largely independent. HSTE.L charges 0.50%/yr vs 0.35%/yr for HNSC.L.

Performance

HSTE.L vs. HNSC.L - Performance Comparison

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

Returns By Period

In the year-to-date period, HSTE.L achieves a -10.40% return, which is significantly lower than HNSC.L's 92.27% 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*: —

HNSC.L

• 1D: -3.06%
• 1M: 20.19%
• YTD: 92.27%
• 6M: 94.54%
• 1Y: 191.57%
• 3Y*: 62.69%
• 5Y*: —
• 10Y*: —

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

HSTE.L vs. HNSC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HSTE.L HSBC Hang Seng Tech UCITS ETF	-10.40%	24.57%	19.70%	-8.44%	-25.35%
HNSC.L HSBC Nasdaq Global Semiconductor UCITS ETF USD	92.27%	55.83%	17.71%	50.92%	-18.53%

Correlation

The correlation between HSTE.L and HNSC.L is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (All Time) Calculated using the full available price history since Feb 8, 2022	0.27

Over the past year, HSTE.L and HNSC.L have become more correlated (0.50) than their long-term average of 0.27, meaning their price movements have been converging.

Return for Risk

HSTE.L vs. HNSC.L — 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: 8
HSTE.L Sharpe Ratio Rank: 7
HSTE.L Sortino Ratio Rank: 7
HSTE.L Omega Ratio Rank: 8
HSTE.L Calmar Ratio Rank: 8
HSTE.L Martin Ratio Rank: 8

HNSC.L

HNSC.L Risk / Return Rank: 97
HNSC.L Sharpe Ratio Rank: 98
HNSC.L Sortino Ratio Rank: 96
HNSC.L Omega Ratio Rank: 95
HNSC.L Calmar Ratio Rank: 98
HNSC.L Martin Ratio Rank: 97

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. HNSC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC Hang Seng Tech UCITS ETF (HSTE.L) and HSBC Nasdaq Global Semiconductor UCITS ETF USD (HNSC.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.

	HSTE.L	HNSC.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.18	5.71	-5.89
Sortino ratio: Return per unit of downside risk	-0.07	5.75	-5.81
Omega ratio: Gain probability vs. loss probability	0.99	1.73	-0.74
Calmar ratio: Return relative to maximum drawdown	-0.16	12.69	-12.85
Martin ratio: Return relative to average drawdown	-0.30	45.66	-45.96
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. HNSC.L - Sharpe Ratio Comparison

The current HSTE.L Sharpe Ratio is -0.18, which is lower than the HNSC.L Sharpe Ratio of 5.71. The chart below compares the historical Sharpe Ratios of HSTE.L and HNSC.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

	HSTE.L	HNSC.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.18	5.71	-5.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.22	1.61	-1.83

Drawdowns

HSTE.L vs. HNSC.L - Drawdown Comparison

The maximum HSTE.L drawdown since its inception was -74.82%, which is greater than HNSC.L's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for HSTE.L and HNSC.L.

Drawdown Indicators

	HSTE.L	HNSC.L	Difference
Max Drawdown Largest peak-to-trough decline	-74.82%	-39.32%	-35.50%
Max Drawdown (1Y) Largest decline over 1 year	-30.70%	-14.99%	-15.71%
Max Drawdown (3Y) Largest decline over 3 years	-34.92%	-37.21%	+2.29%
Max Drawdown (5Y) Largest decline over 5 years	-67.13%	—	—
Current Drawdown Current decline from peak	-53.93%	-3.06%	-50.87%
Average Drawdown Average peak-to-trough decline	-52.77%	-9.51%	-43.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.59%	4.18%	+12.41%

Volatility

HSTE.L vs. HNSC.L - Volatility Comparison

The current volatility for HSBC Hang Seng Tech UCITS ETF (HSTE.L) is 10.94%, while HSBC Nasdaq Global Semiconductor UCITS ETF USD (HNSC.L) has a volatility of 14.26%. This indicates that HSTE.L experiences smaller price fluctuations and is considered to be less risky than HNSC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HSTE.L	HNSC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.94%	14.26%	-3.32%
Volatility (6M) Calculated over the trailing 6-month period	20.11%	26.25%	-6.14%
Volatility (1Y) Calculated over the trailing 1-year period	27.47%	33.32%	-5.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.38%	37.74%	+1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.03%	37.74%	+1.29%

HSTE.L vs. HNSC.L - Expense Ratio Comparison

HSTE.L has a 0.50% expense ratio, which is higher than HNSC.L's 0.35% expense ratio.

Dividends

HSTE.L vs. HNSC.L - Dividend Comparison

Neither HSTE.L nor HNSC.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both HSTE.L and HNSC.L in my portfolio?

HSTE.L and HNSC.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HSTE.L or HNSC.L?

On fees, HNSC.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HSTE.L or HNSC.L?

HNSC.L is cheaper with a 0.35% expense ratio, compared with 0.50% for HSTE.L.

What is the main difference between HSTE.L and HNSC.L?

HSTE.L is categorized as Technology Equities, while HNSC.L is Semiconductors. HSTE.L tracks MSCI World/Information Tech NR USD, while HNSC.L tracks Nasdaq Global Semiconductor. Their fees differ too: 0.50% for HSTE.L and 0.35% for HNSC.L.