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HSXE.L vs. MIBX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HSXE.L vs. MIBX.L

Last updated Jul 16, 2026
Documentation

HSXE.L (HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis) and MIBX.L (Lyxor FTSE MIB UCITS ETF - Dist) are both Europe Equities funds - HSXE.L tracks the HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis while MIBX.L tracks the FTSE Italia AllShare TR EUR. Both are passively managed. Over the past 3 years, HSXE.L returned 16.10%/yr vs 28.13%/yr for MIBX.L. Their correlation of 0.83 suggests significant overlap in exposure.

Performance

HSXE.L vs. MIBX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis (HSXE.L) and Lyxor FTSE MIB UCITS ETF - Dist (MIBX.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HSXE.L is traded in GBP, while MIBX.L is traded in GBp. To make them comparable, the MIBX.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, HSXE.L achieves a 13.08% return, which is significantly lower than MIBX.L's 18.63% return.

HSXE.L

1D
-0.35%
1M
-1.94%
6M
10.19%
YTD
13.08%
1Y
24.00%
3Y*
16.10%
5Y*
—
10Y*
—

MIBX.L

1D
0.50%
1M
1.17%
6M
17.18%
YTD
18.63%
1Y
35.91%
3Y*
28.13%
5Y*
21.70%
10Y*
16.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HSXE.L vs. MIBX.L - Yearly Performance Comparison

2026 (YTD)2025202420232022
HSXE.L
HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis		13.08%24.17%3.60%18.35%-15.14%
MIBX.L
Lyxor FTSE MIB UCITS ETF - Dist		18.63%43.78%13.17%30.61%5.31%

Correlation

The correlation between HSXE.L and MIBX.L is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.82

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

0.82

Correlation (All Time)
Calculated using the full available price history since Apr 21, 2022

0.83

The correlation between HSXE.L and MIBX.L has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis

Lyxor FTSE MIB UCITS ETF - Dist

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Return for Risk

HSXE.L vs. MIBX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HSXE.L
HSXE.L Risk / Return Rank: 6464
Overall Rank
HSXE.L Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
HSXE.L Sortino Ratio Rank: 6868
Sortino Ratio Rank
HSXE.L Omega Ratio Rank: 6868
Omega Ratio Rank
HSXE.L Calmar Ratio Rank: 5757
Calmar Ratio Rank
HSXE.L Martin Ratio Rank: 6060
Martin Ratio Rank
MIBX.L
MIBX.L Risk / Return Rank: 8383
Overall Rank
MIBX.L Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
MIBX.L Sortino Ratio Rank: 8585
Sortino Ratio Rank
MIBX.L Omega Ratio Rank: 8484
Omega Ratio Rank
MIBX.L Calmar Ratio Rank: 8080
Calmar Ratio Rank
MIBX.L Martin Ratio Rank: 7979
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.

HSXE.L vs. MIBX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis (HSXE.L) and Lyxor FTSE MIB UCITS ETF - Dist (MIBX.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.

HSXE.LMIBX.LDifference
Sharpe ratioReturn per unit of total volatility
1.77
2.29

-0.51

Sortino ratioReturn per unit of downside risk
2.50
3.09

-0.60

Omega ratioGain probability vs. loss probability

1.33

1.40

-0.07

Calmar ratioReturn relative to maximum drawdown

2.30

3.38

-1.08

Martin ratioReturn relative to average drawdown

8.41

12.08

-3.66

HSXE.L vs. MIBX.L - Sharpe Ratio Comparison

The current HSXE.L Sharpe Ratio is 1.77, which is comparable to the MIBX.L Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of HSXE.L and MIBX.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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Drawdowns

HSXE.L vs. MIBX.L - Drawdown Comparison

The maximum HSXE.L drawdown since its inception was -25.98%, smaller than the maximum MIBX.L drawdown of -67.93%. Use the drawdown chart below to compare losses from any high point for HSXE.L and MIBX.L.

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Drawdown Indicators

HSXE.LMIBX.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.98%

-67.93%

+41.95%

Max Drawdown (1Y)

Largest decline over 1 year

-10.50%

-10.26%

-0.24%

Max Drawdown (3Y)

Largest decline over 3 years

-11.48%

-15.64%

+4.16%

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.06%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.10%

—

Current Drawdown

Current decline from peak

-3.27%

-1.36%

-1.91%

Average Drawdown

Average peak-to-trough decline

-6.19%

-39.74%

+33.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.88%

2.88%

0.00%

Volatility

HSXE.L vs. MIBX.L - Volatility Comparison

HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis (HSXE.L) and Lyxor FTSE MIB UCITS ETF - Dist (MIBX.L) have volatilities of 3.88% and 3.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HSXE.LMIBX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.88%

3.87%

+0.01%

Volatility (6M)

Calculated over the trailing 6-month period

11.64%

12.60%

-0.96%

Volatility (1Y)

Calculated over the trailing 1-year period

13.61%

15.16%

-1.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.15%

17.93%

+1.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.15%

18.83%

+0.32%

Dividends

HSXE.L vs. MIBX.L - Dividend Comparison

HSXE.L's dividend yield for the trailing twelve months is around 2.52%, less than MIBX.L's 3.11% yield.

PositionTTM20252024202320222021202020192018201720162015
HSXE.L
HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis		2.52%2.65%2.73%3.93%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
MIBX.L
Lyxor FTSE MIB UCITS ETF - Dist		3.11%3.68%3.93%3.73%3.88%2.09%1.55%4.02%4.05%2.75%3.56%3.05%

Frequently Asked Questions

HSXE.L and MIBX.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HSXE.L tracks HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis, while MIBX.L tracks FTSE Italia AllShare TR EUR. They also come from different issuers: HSBC and Amundi.

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