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

HSUS.L vs. HUKX.L

Last updated Jun 5, 2026

HSUS.L (HSBC USA Sustainable Equity UCITS ETF USD) and HUKX.L (HSBC FTSE 100 UCITS ETF GBP) are both exchange-traded funds - HSUS.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while HUKX.L is a Europe Equities fund tracking the FTSE AllSh TR GBP. Both are passively managed. Over the past 5 years, HSUS.L returned 14.14%/yr vs 11.88%/yr for HUKX.L. A 0.52 correlation means they provide meaningful diversification when combined. HSUS.L charges 0.12%/yr vs 0.07%/yr for HUKX.L.

Performance

HSUS.L vs. HUKX.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 HSBC FTSE 100 UCITS ETF GBP (HUKX.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 HUKX.L is traded in GBp. To make them comparable, the HUKX.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 14.52% return, which is significantly higher than HUKX.L's 5.71% return.

HSUS.L

1D
0.49%
1M
8.65%
YTD
14.52%
6M
15.61%
1Y
36.29%
3Y*
18.49%
5Y*
14.14%
10Y*
—

HUKX.L

1D
0.29%
1M
1.39%
YTD
5.71%
6M
8.18%
1Y
20.97%
3Y*
14.79%
5Y*
11.88%
10Y*
9.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020
HSUS.L
HSBC USA Sustainable Equity UCITS ETF USD		14.52%10.79%21.83%15.09%-7.73%29.76%11.33%
HUKX.L
HSBC FTSE 100 UCITS ETF GBP		5.71%26.20%9.58%7.36%5.07%17.54%1.60%

Correlation

The correlation between HSUS.L and HUKX.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.39

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

0.42

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

0.49

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

0.52

The correlation between HSUS.L and HUKX.L shifts across timeframes, from 0.39 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

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

Sectors
HSUS.L
HUKX.L

Technology

45.5%
0.3%

Financial Services

14.4%
26.2%

Healthcare

13.8%
12.9%

Consumer Cyclical

8.2%
4.5%

Communication Services

6.5%
2.3%

Basic Materials

4.0%
8.5%

Industrials

2.8%
13.0%

Energy

2.2%
10.7%

Consumer Defensive

2.0%
13.7%

Real Estate

0.6%
1.0%

Utilities

0.2%
4.8%

Technology

HSUS.L
45.5%
HUKX.L
0.3%

Financial Services

HSUS.L
14.4%
HUKX.L
26.2%

Healthcare

HSUS.L
13.8%
HUKX.L
12.9%

Consumer Cyclical

HSUS.L
8.2%
HUKX.L
4.5%

Communication Services

HSUS.L
6.5%
HUKX.L
2.3%

Basic Materials

HSUS.L
4.0%
HUKX.L
8.5%

Industrials

HSUS.L
2.8%
HUKX.L
13.0%

Energy

HSUS.L
2.2%
HUKX.L
10.7%

Consumer Defensive

HSUS.L
2.0%
HUKX.L
13.7%

Real Estate

HSUS.L
0.6%
HUKX.L
1.0%

Utilities

HSUS.L
0.2%
HUKX.L
4.8%

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HSBC USA Sustainable Equity UCITS ETF USD

HSBC FTSE 100 UCITS ETF GBP

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Often compared with HUKX.L:
HUKX.L vs. ISF.LHUKX.L vs. VUKG.LHUKX.L vs. VFWAXHUKX.L vs. EUDVHUKX.L vs. LDUK.LHUKX.L vs. HSPD.LHUKX.L vs. LDEG.L

Return for Risk

HSUS.L vs. HUKX.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: 9393
Overall Rank
HSUS.L Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
HSUS.L Sortino Ratio Rank: 9494
Sortino Ratio Rank
HSUS.L Omega Ratio Rank: 9393
Omega Ratio Rank
HSUS.L Calmar Ratio Rank: 9393
Calmar Ratio Rank
HSUS.L Martin Ratio Rank: 9292
Martin Ratio Rank
HUKX.L
HUKX.L Risk / Return Rank: 5555
Overall Rank
HUKX.L Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
HUKX.L Sortino Ratio Rank: 5858
Sortino Ratio Rank
HUKX.L Omega Ratio Rank: 6060
Omega Ratio Rank
HUKX.L Calmar Ratio Rank: 4949
Calmar Ratio Rank
HUKX.L Martin Ratio Rank: 5050
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. HUKX.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 HSBC FTSE 100 UCITS ETF GBP (HUKX.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.LHUKX.LDifference
Sharpe ratioReturn per unit of total volatility
3.49
1.93

+1.56

Sortino ratioReturn per unit of downside risk
4.69
2.70

+1.99

Omega ratioGain probability vs. loss probability

1.64

1.36

+0.28

Calmar ratioReturn relative to maximum drawdown

6.41

2.38

+4.04

Martin ratioReturn relative to average drawdown

22.69

8.21

+14.49

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. HUKX.L - Sharpe Ratio Comparison

The current HSUS.L Sharpe Ratio is 3.49, which is higher than the HUKX.L Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of HSUS.L and HUKX.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.LHUKX.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.49

1.93

+1.56

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.03

0.94

+0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.61

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.09

0.53

+0.56

Drawdowns

HSUS.L vs. HUKX.L - Drawdown Comparison

The maximum HSUS.L drawdown since its inception was -20.92%, smaller than the maximum HUKX.L drawdown of -34.22%. Use the drawdown chart below to compare losses from any high point for HSUS.L and HUKX.L.

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Drawdown Indicators

HSUS.LHUKX.LDifference

Max Drawdown

Largest peak-to-trough decline

-20.92%

-34.22%

+13.30%

Max Drawdown (1Y)

Largest decline over 1 year

-5.63%

-8.78%

+3.15%

Max Drawdown (3Y)

Largest decline over 3 years

-20.92%

-12.95%

-7.97%

Max Drawdown (5Y)

Largest decline over 5 years

-20.92%

-12.95%

-7.97%

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.22%

—

Current Drawdown

Current decline from peak

0.00%

-3.87%

+3.87%

Average Drawdown

Average peak-to-trough decline

-3.18%

-4.37%

+1.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.59%

2.55%

-0.96%

Volatility

HSUS.L vs. HUKX.L - Volatility Comparison

The current volatility for HSBC USA Sustainable Equity UCITS ETF USD (HSUS.L) is 2.97%, while HSBC FTSE 100 UCITS ETF GBP (HUKX.L) has a volatility of 3.90%. This indicates that HSUS.L experiences smaller price fluctuations and is considered to be less risky than HUKX.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.LHUKX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.97%

3.90%

-0.93%

Volatility (6M)

Calculated over the trailing 6-month period

7.46%

9.43%

-1.97%

Volatility (1Y)

Calculated over the trailing 1-year period

10.36%

10.82%

-0.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.77%

12.65%

+1.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.20%

14.96%

-0.76%

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

HSUS.L has a 0.12% expense ratio, which is higher than HUKX.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HSUS.L vs. HUKX.L - Dividend Comparison

HSUS.L has not paid dividends to shareholders, while HUKX.L's dividend yield for the trailing twelve months is around 2.85%.

PositionTTM20252024202320222021202020192018201720162015
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%
HUKX.L
HSBC FTSE 100 UCITS ETF GBP		2.85%2.95%3.74%3.50%3.63%3.19%4.04%4.31%4.35%3.79%3.49%3.79%

Frequently Asked Questions

HSUS.L and HUKX.L have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HUKX.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HUKX.L is cheaper with a 0.07% expense ratio, compared with 0.12% for HSUS.L.

HSUS.L is categorized as Large Cap Blend Equities, while HUKX.L is Europe Equities. HSUS.L tracks Russell 1000 TR USD, while HUKX.L tracks FTSE AllSh TR GBP. Their fees differ too: 0.12% for HSUS.L and 0.07% for HUKX.L.

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