HSTE.L vs. IUES.L

Last updated Jun 5, 2026

HSTE.L (HSBC Hang Seng Tech UCITS ETF) and IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both exchange-traded funds - HSTE.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while IUES.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 5 years, HSTE.L returned -9.33%/yr vs 20.33%/yr for IUES.L. At a 0.11 correlation, their price movements are largely independent. HSTE.L charges 0.50%/yr vs 0.15%/yr for IUES.L.

Performance

HSTE.L vs. IUES.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 iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.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 IUES.L's 30.45% 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*: —

IUES.L

• 1D: -0.36%
• 1M: -1.09%
• YTD: 30.45%
• 6M: 29.22%
• 1Y: 46.28%
• 3Y*: 16.84%
• 5Y*: 20.33%
• 10Y*: 9.21%

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

HSTE.L vs. IUES.L - 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%
IUES.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc)	30.45%	9.82%	3.87%	-0.63%	63.84%	51.95%	-7.94%

Correlation

The correlation between HSTE.L and IUES.L is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since Dec 11, 2020	0.11

The correlation between HSTE.L and IUES.L shifts across timeframes, from -0.18 (1 year) to 0.12 (5 years), reflecting how their relationship changes across market environments.

HSTE.L vs. IUES.L - Sectors Allocation Comparison

Sectors	HSTE.L	IUES.L
Consumer Cyclical	40.8%	-
Technology	32.2%	-
Communication Services	25.0%	-
Healthcare	1.9%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

HSTE.L vs. IUES.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

IUES.L

IUES.L Risk / Return Rank: 60
IUES.L Sharpe Ratio Rank: 65
IUES.L Sortino Ratio Rank: 56
IUES.L Omega Ratio Rank: 59
IUES.L Calmar Ratio Rank: 65
IUES.L Martin Ratio Rank: 57

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. IUES.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 iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.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	IUES.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.18	2.12	-2.30
Sortino ratio: Return per unit of downside risk	-0.07	2.64	-2.71
Omega ratio: Gain probability vs. loss probability	0.99	1.35	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.16	3.18	-3.34
Martin ratio: Return relative to average drawdown	-0.30	9.97	-10.26
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. IUES.L - Sharpe Ratio Comparison

The current HSTE.L Sharpe Ratio is -0.18, which is lower than the IUES.L Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of HSTE.L and IUES.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	IUES.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.18	2.12	-2.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	0.76	-1.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.22	0.31	-0.53

Drawdowns

HSTE.L vs. IUES.L - Drawdown Comparison

The maximum HSTE.L drawdown since its inception was -74.82%, which is greater than IUES.L's maximum drawdown of -66.78%. Use the drawdown chart below to compare losses from any high point for HSTE.L and IUES.L.

Drawdown Indicators

	HSTE.L	IUES.L	Difference
Max Drawdown Largest peak-to-trough decline	-74.82%	-66.78%	-8.04%
Max Drawdown (1Y) Largest decline over 1 year	-30.70%	-14.49%	-16.21%
Max Drawdown (3Y) Largest decline over 3 years	-34.92%	-20.90%	-14.02%
Max Drawdown (5Y) Largest decline over 5 years	-67.13%	-27.98%	-39.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.78%	—
Current Drawdown Current decline from peak	-53.93%	-7.45%	-46.48%
Average Drawdown Average peak-to-trough decline	-52.77%	-14.21%	-38.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.59%	4.63%	+11.96%

Volatility

HSTE.L vs. IUES.L - Volatility Comparison

HSBC Hang Seng Tech UCITS ETF (HSTE.L) has a higher volatility of 10.94% compared to iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) at 8.13%. This indicates that HSTE.L's price experiences larger fluctuations and is considered to be riskier than IUES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HSTE.L	IUES.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.94%	8.13%	+2.81%
Volatility (6M) Calculated over the trailing 6-month period	20.11%	18.58%	+1.53%
Volatility (1Y) Calculated over the trailing 1-year period	27.47%	21.81%	+5.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.38%	26.72%	+12.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.03%	28.49%	+10.54%

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

HSTE.L has a 0.50% expense ratio, which is higher than IUES.L's 0.15% expense ratio.

Dividends

HSTE.L vs. IUES.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

HSTE.L and IUES.L have a correlation of -0.18, 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 IUES.L?

On fees, IUES.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

IUES.L is cheaper with a 0.15% expense ratio, compared with 0.50% for HSTE.L.

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

HSTE.L is categorized as Technology Equities, while IUES.L is Energy Equities. HSTE.L tracks MSCI World/Information Tech NR USD, while IUES.L tracks MSCI World/Energy NR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.50% for HSTE.L and 0.15% for IUES.L.