HSTE.L vs. MKUW.L
HSTE.L (HSBC Hang Seng Tech UCITS ETF) and MKUW.L (Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc) are both Technology Equities funds - HSTE.L tracks the MSCI World/Information Tech NR USD while MKUW.L tracks the Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc. Both are passively managed. Over the past 5 years, HSTE.L returned -8.55%/yr vs 7.35%/yr for MKUW.L. At a 0.14 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.
Performance
HSTE.L vs. MKUW.L - Performance Comparison
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Returns By Period
In the year-to-date period, HSTE.L achieves a -13.70% return, which is significantly lower than MKUW.L's 0.89% 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*
- —
MKUW.L
- 1D
- 1.09%
- 1M
- -1.83%
- 6M
- 1.55%
- YTD
- 0.89%
- 1Y
- 4.11%
- 3Y*
- 8.26%
- 5Y*
- 7.35%
- 10Y*
- —
HSTE.L vs. MKUW.L - 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% |
MKUW.L Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc | 0.89% | 25.35% | 9.15% | -8.87% | 5.99% | 28.57% | -0.52% |
Correlation
The correlation between HSTE.L and MKUW.L is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 2020 | 0.14 |
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Return for Risk
HSTE.L vs. MKUW.L — Risk / Return Rank
HSTE.L
MKUW.L
HSTE.L vs. MKUW.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 Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.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.
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 | MKUW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.10 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 0.70 | -1.02 |
| Martin ratioReturn relative to average drawdown | -0.57 | 1.63 | -2.20 |
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Drawdowns
HSTE.L vs. MKUW.L - Drawdown Comparison
The maximum HSTE.L drawdown since its inception was -95.65%, which is greater than MKUW.L's maximum drawdown of -37.76%. Use the drawdown chart below to compare losses from any high point for HSTE.L and MKUW.L.
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Drawdown Indicators
| HSTE.L | MKUW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.65% | -37.76% | -57.89% |
Max Drawdown (1Y)Largest decline over 1 year | -35.09% | -7.47% | -27.62% |
Max Drawdown (3Y)Largest decline over 3 years | -35.09% | -14.16% | -20.93% |
Max Drawdown (5Y)Largest decline over 5 years | -63.71% | -25.13% | -38.58% |
Current DrawdownCurrent decline from peak | -92.33% | -2.89% | -89.44% |
Average DrawdownAverage peak-to-trough decline | -91.81% | -9.42% | -82.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.67% | 3.24% | +16.43% |
Volatility
HSTE.L vs. MKUW.L - Volatility Comparison
HSBC Hang Seng Tech UCITS ETF (HSTE.L) has a higher volatility of 8.04% compared to Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.L) at 2.12%. This indicates that HSTE.L's price experiences larger fluctuations and is considered to be riskier than MKUW.L 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 | MKUW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.04% | 2.12% | +5.92% |
Volatility (6M)Calculated over the trailing 6-month period | 21.08% | 8.09% | +12.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.05% | 10.37% | +17.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.45% | 12.77% | +26.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.48% | 16.50% | +36.98% |
HSTE.L vs. MKUW.L - Expense Ratio Comparison
Both HSTE.L and MKUW.L have an expense ratio of 0.50%.
Dividends
HSTE.L vs. MKUW.L - Dividend Comparison
Neither HSTE.L nor MKUW.L has paid dividends to shareholders.
Frequently Asked Questions
HSTE.L and MKUW.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
HSTE.L and MKUW.L have the same expense ratio: 0.50% per year.
HSTE.L tracks MSCI World/Information Tech NR USD, while MKUW.L tracks Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc. They also come from different issuers: HSBC and Invesco.
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