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HSUS.L vs. CNDX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HSUS.L vs. CNDX.L

Last updated Jun 4, 2026

HSUS.L (HSBC USA Sustainable Equity UCITS ETF USD) and CNDX.L (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - HSUS.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, HSUS.L returned 14.02%/yr vs 19.03%/yr for CNDX.L. Their correlation of 0.82 suggests significant overlap in exposure. HSUS.L charges 0.12%/yr vs 0.33%/yr for CNDX.L.

Performance

HSUS.L vs. CNDX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC USA Sustainable Equity UCITS ETF USD (HSUS.L) and iShares NASDAQ 100 UCITS ETF (CNDX.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HSUS.L is traded in GBP, while CNDX.L is traded in USD. To make them comparable, the CNDX.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, HSUS.L achieves a 13.96% return, which is significantly lower than CNDX.L's 20.90% return.

HSUS.L

1D
0.00%
1M
8.60%
YTD
13.96%
6M
14.87%
1Y
35.83%
3Y*
18.59%
5Y*
14.02%
10Y*
—

CNDX.L

1D
0.16%
1M
11.63%
YTD
20.90%
6M
19.16%
1Y
42.84%
3Y*
25.37%
5Y*
19.03%
10Y*
22.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HSUS.L vs. CNDX.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
HSUS.L
HSBC USA Sustainable Equity UCITS ETF USD		13.96%10.79%21.83%15.09%-7.73%29.76%11.33%
CNDX.L
iShares NASDAQ 100 UCITS ETF		20.90%11.22%28.66%48.50%-25.54%29.17%21.82%

Correlation

The correlation between HSUS.L and CNDX.L is 0.77, 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

0.77

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

0.82

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

0.82

Correlation (All Time)
Calculated using the full available price history since Jun 8, 2020

0.82

The correlation between HSUS.L and CNDX.L has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.

HSUS.L vs. CNDX.L - Sectors Allocation Comparison

Sectors
HSUS.L
CNDX.L

Technology

45.5%
57.3%

Financial Services

14.4%
0.2%

Healthcare

13.8%
3.8%

Consumer Cyclical

8.2%
11.6%

Communication Services

6.5%
14.5%

Basic Materials

4.0%
1.1%

Industrials

2.8%
2.8%

Energy

2.2%
0.5%

Consumer Defensive

2.0%
6.9%

Real Estate

0.6%
0.1%

Utilities

0.2%
1.3%

Technology

HSUS.L
45.5%
CNDX.L
57.3%

Financial Services

HSUS.L
14.4%
CNDX.L
0.2%

Healthcare

HSUS.L
13.8%
CNDX.L
3.8%

Consumer Cyclical

HSUS.L
8.2%
CNDX.L
11.6%

Communication Services

HSUS.L
6.5%
CNDX.L
14.5%

Basic Materials

HSUS.L
4.0%
CNDX.L
1.1%

Industrials

HSUS.L
2.8%
CNDX.L
2.8%

Energy

HSUS.L
2.2%
CNDX.L
0.5%

Consumer Defensive

HSUS.L
2.0%
CNDX.L
6.9%

Real Estate

HSUS.L
0.6%
CNDX.L
0.1%

Utilities

HSUS.L
0.2%
CNDX.L
1.3%

Compare stocks, funds, or ETFs

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

HSBC USA Sustainable Equity UCITS ETF USD

iShares NASDAQ 100 UCITS ETF

Often compared with HSUS.L:
HSUS.L vs. HLALHSUS.L vs. LGUG.LHSUS.L vs. ESUS.LHSUS.L vs. HPAS.LHSUS.L vs. XMVU.LHSUS.L vs. GLDHSUS.L vs. DJEU.L
Often compared with CNDX.L:
CNDX.L vs. QQQCNDX.L vs. EQQQ.DECNDX.L vs. SXRV.DECNDX.L vs. CNX1.LCNDX.L vs. CSPX.LCNDX.L vs. EQQU.LCNDX.L vs. VWRA.L

Return for Risk

HSUS.L vs. CNDX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HSUS.L
HSUS.L Risk / Return Rank: 9292
Overall Rank
HSUS.L Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
HSUS.L Sortino Ratio Rank: 9393
Sortino Ratio Rank
HSUS.L Omega Ratio Rank: 9292
Omega Ratio Rank
HSUS.L Calmar Ratio Rank: 9292
Calmar Ratio Rank
HSUS.L Martin Ratio Rank: 9292
Martin Ratio Rank
CNDX.L
CNDX.L Risk / Return Rank: 7575
Overall Rank
CNDX.L Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
CNDX.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
CNDX.L Omega Ratio Rank: 7474
Omega Ratio Rank
CNDX.L Calmar Ratio Rank: 7474
Calmar Ratio Rank
CNDX.L 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.

HSUS.L vs. CNDX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC USA Sustainable Equity UCITS ETF USD (HSUS.L) and iShares NASDAQ 100 UCITS ETF (CNDX.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.

HSUS.LCNDX.LDifference
Sharpe ratioReturn per unit of total volatility
3.45
2.68

+0.76

Sortino ratioReturn per unit of downside risk
4.64
3.58

+1.06

Omega ratioGain probability vs. loss probability

1.63

1.48

+0.16

Calmar ratioReturn relative to maximum drawdown

6.33

3.80

+2.53

Martin ratioReturn relative to average drawdown

22.41

10.82

+11.59

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HSUS.L vs. CNDX.L - Sharpe Ratio Comparison

The current HSUS.L Sharpe Ratio is 3.45, which is comparable to the CNDX.L Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of HSUS.L and CNDX.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.

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Sharpe Ratios by Period

HSUS.LCNDX.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.45

2.68

+0.76

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.02

0.95

+0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.12

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.08

1.18

-0.09

Drawdowns

HSUS.L vs. CNDX.L - Drawdown Comparison

The maximum HSUS.L drawdown since its inception was -20.92%, smaller than the maximum CNDX.L drawdown of -27.74%. Use the drawdown chart below to compare losses from any high point for HSUS.L and CNDX.L.

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Drawdown Indicators

HSUS.LCNDX.LDifference

Max Drawdown

Largest peak-to-trough decline

-20.92%

-27.74%

+6.82%

Max Drawdown (1Y)

Largest decline over 1 year

-5.63%

-11.11%

+5.48%

Max Drawdown (3Y)

Largest decline over 3 years

-20.92%

-24.37%

+3.45%

Max Drawdown (5Y)

Largest decline over 5 years

-20.92%

-27.74%

+6.82%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.74%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.18%

-4.72%

+1.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.59%

3.93%

-2.34%

Volatility

HSUS.L vs. CNDX.L - Volatility Comparison

The current volatility for HSBC USA Sustainable Equity UCITS ETF USD (HSUS.L) is 2.97%, while iShares NASDAQ 100 UCITS ETF (CNDX.L) has a volatility of 4.91%. This indicates that HSUS.L experiences smaller price fluctuations and is considered to be less risky than CNDX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HSUS.LCNDX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.97%

4.91%

-1.94%

Volatility (6M)

Calculated over the trailing 6-month period

7.45%

11.61%

-4.16%

Volatility (1Y)

Calculated over the trailing 1-year period

10.46%

15.81%

-5.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.77%

20.08%

-6.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.21%

20.20%

-5.99%

HSUS.L vs. CNDX.L - Expense Ratio Comparison

HSUS.L has a 0.12% expense ratio, which is lower than CNDX.L's 0.33% expense ratio.

Dividends

HSUS.L vs. CNDX.L - Dividend Comparison

Neither HSUS.L nor CNDX.L has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CNDX.L
iShares NASDAQ 100 UCITS ETF		0.00%0.00%0.02%0.05%0.06%0.03%0.04%0.07%0.06%0.30%0.16%0.16%
HSUS.L
HSBC USA Sustainable Equity UCITS ETF USD		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

HSUS.L and CNDX.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HSUS.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HSUS.L is cheaper with a 0.12% expense ratio, compared with 0.33% for CNDX.L.

HSUS.L is categorized as Large Cap Blend Equities, while CNDX.L is Nasdaq-100. HSUS.L tracks Russell 1000 TR USD, while CNDX.L tracks NASDAQ-100 Index. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.12% for HSUS.L and 0.33% for CNDX.L.

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