HSUD.L vs. VPAC.L
HSUD.L (HSBC USA Screened Equity UCITS ETF) and VPAC.L (Invesco Variable Rate Preferred Shares UCITS ETF USD) are both Global Equities funds - HSUD.L tracks the HSBC USA Screened Equity UCITS ETF while VPAC.L tracks the Invesco Variable Rate Preferred Shares UCITS ETF USD. Both are passively managed. Over the past 5 years, HSUD.L returned 11.96%/yr vs 3.51%/yr for VPAC.L. At a 0.49 correlation, their price movements are largely independent. HSUD.L charges 0.12%/yr vs 0.50%/yr for VPAC.L.
Performance
HSUD.L vs. VPAC.L - Performance Comparison
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Returns By Period
In the year-to-date period, HSUD.L achieves a 12.55% return, which is significantly higher than VPAC.L's 2.04% return.
HSUD.L
- 1D
- -0.08%
- 1M
- -1.37%
- 6M
- 12.89%
- YTD
- 12.55%
- 1Y
- 26.40%
- 3Y*
- 19.30%
- 5Y*
- 11.96%
- 10Y*
- —
VPAC.L
- 1D
- -0.12%
- 1M
- 0.03%
- 6M
- 1.83%
- YTD
- 2.04%
- 1Y
- 5.32%
- 3Y*
- 8.42%
- 5Y*
- 3.51%
- 10Y*
- —
HSUD.L vs. VPAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HSUD.L HSBC USA Screened Equity UCITS ETF | 12.55% | 18.98% | 19.90% | 21.64% | -17.56% | 28.13% | 20.16% |
VPAC.L Invesco Variable Rate Preferred Shares UCITS ETF USD | 2.04% | 6.34% | 10.84% | 9.27% | -9.70% | 3.64% | 11.88% |
Correlation
The correlation between HSUD.L and VPAC.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.49 |
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Return for Risk
HSUD.L vs. VPAC.L — Risk / Return Rank
HSUD.L
VPAC.L
HSUD.L vs. VPAC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC USA Screened Equity UCITS ETF (HSUD.L) and Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.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.
| HSUD.L | VPAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.32 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 2.54 | +0.88 |
| Martin ratioReturn relative to average drawdown | 13.00 | 9.98 | +3.02 |
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Drawdowns
HSUD.L vs. VPAC.L - Drawdown Comparison
The maximum HSUD.L drawdown since its inception was -24.43%, smaller than the maximum VPAC.L drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for HSUD.L and VPAC.L.
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Drawdown Indicators
| HSUD.L | VPAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.43% | -34.25% | +9.82% |
Max Drawdown (1Y)Largest decline over 1 year | -7.77% | -2.02% | -5.75% |
Max Drawdown (3Y)Largest decline over 3 years | -19.51% | -3.40% | -16.11% |
Max Drawdown (5Y)Largest decline over 5 years | -24.43% | -13.89% | -10.54% |
Current DrawdownCurrent decline from peak | -1.54% | -0.33% | -1.21% |
Average DrawdownAverage peak-to-trough decline | -5.09% | -3.14% | -1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 0.52% | +1.53% |
Volatility
HSUD.L vs. VPAC.L - Volatility Comparison
HSBC USA Screened Equity UCITS ETF (HSUD.L) has a higher volatility of 3.25% compared to Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) at 0.74%. This indicates that HSUD.L's price experiences larger fluctuations and is considered to be riskier than VPAC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSUD.L | VPAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.25% | 0.74% | +2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 9.56% | 2.28% | +7.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.83% | 3.17% | +8.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.43% | 5.30% | +10.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 11.00% | +4.59% |
HSUD.L vs. VPAC.L - Expense Ratio Comparison
HSUD.L has a 0.12% expense ratio, which is lower than VPAC.L's 0.50% expense ratio.
Dividends
HSUD.L vs. VPAC.L - Dividend Comparison
Neither HSUD.L nor VPAC.L has paid dividends to shareholders.
Frequently Asked Questions
HSUD.L and VPAC.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HSUD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HSUD.L is cheaper with a 0.12% expense ratio, compared with 0.50% for VPAC.L.
HSUD.L tracks HSBC USA Screened Equity UCITS ETF, while VPAC.L tracks Invesco Variable Rate Preferred Shares UCITS ETF USD. They also come from different issuers: HSBC and Invesco. Their fees differ too: 0.12% for HSUD.L and 0.50% for VPAC.L.
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