HUKX.L vs. HEAE.L
HUKX.L (HSBC FTSE 100 UCITS ETF GBP) and HEAE.L (SPDR MSCI Europe Health Care UCITS ETF) are both exchange-traded funds - HUKX.L is a Europe Equities fund tracking the FTSE AllSh TR GBP, while HEAE.L is a Health & Biotech Equities fund tracking the MSCI World/Health Care NR USD. Both are passively managed. Over the past 10 years, HUKX.L returned 9.82%/yr vs 5.38%/yr for HEAE.L. A 0.60 correlation means they provide meaningful diversification when combined. HUKX.L charges 0.07%/yr vs 0.18%/yr for HEAE.L.
Performance
HUKX.L vs. HEAE.L - Performance Comparison
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Different Trading Currencies
HUKX.L is traded in GBp, while HEAE.L is traded in GBP. To make them comparable, the HEAE.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, HUKX.L achieves a 6.75% return, which is significantly higher than HEAE.L's -1.49% return. Over the past 10 years, HUKX.L has outperformed HEAE.L with an annualized return of 9.82%, while HEAE.L has yielded a comparatively lower 5.38% annualized return.
HUKX.L
- 1D
- 1.47%
- 1M
- 0.89%
- YTD
- 6.75%
- 6M
- 9.96%
- 1Y
- 21.59%
- 3Y*
- 15.17%
- 5Y*
- 11.88%
- 10Y*
- 9.82%
HEAE.L
- 1D
- 0.00%
- 1M
- 1.12%
- YTD
- -1.49%
- 6M
- -0.50%
- 1Y
- 7.43%
- 3Y*
- 3.82%
- 5Y*
- 2.06%
- 10Y*
- 5.38%
HUKX.L vs. HEAE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HUKX.L HSBC FTSE 100 UCITS ETF GBP | 6.75% | 26.20% | 9.58% | 7.36% | 5.07% | 17.54% | -11.64% | 17.42% | -8.67% | 12.39% |
HEAE.L SPDR MSCI Europe Health Care UCITS ETF | -1.49% | 12.67% | -0.58% | 5.53% | -14.69% | 25.32% | -2.05% | 31.62% | -0.70% | 2.75% |
Correlation
The correlation between HUKX.L and HEAE.L is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011 | 0.60 |
The correlation between HUKX.L and HEAE.L has been stable across timeframes, ranging from 0.51 to 0.60 - a consistent structural relationship.
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Return for Risk
HUKX.L vs. HEAE.L — Risk / Return Rank
HUKX.L
HEAE.L
HUKX.L vs. HEAE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC FTSE 100 UCITS ETF GBP (HUKX.L) and SPDR MSCI Europe Health Care UCITS ETF (HEAE.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.
| HUKX.L | HEAE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.52 | ||
| Sortino ratioReturn per unit of downside risk | +1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.08 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 0.47 | +1.91 |
| Martin ratioReturn relative to average drawdown | 7.97 | 1.09 | +6.88 |
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Drawdowns
HUKX.L vs. HEAE.L - Drawdown Comparison
The maximum HUKX.L drawdown since its inception was -34.22%, which is greater than HEAE.L's maximum drawdown of -25.54%. Use the drawdown chart below to compare losses from any high point for HUKX.L and HEAE.L.
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Drawdown Indicators
| HUKX.L | HEAE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.22% | -25.54% | -8.68% |
Max Drawdown (1Y)Largest decline over 1 year | -8.78% | -13.73% | +4.95% |
Max Drawdown (3Y)Largest decline over 3 years | -12.95% | -24.51% | +11.56% |
Max Drawdown (5Y)Largest decline over 5 years | -12.95% | -24.51% | +11.56% |
Max Drawdown (10Y)Largest decline over 10 years | -34.22% | -24.51% | -9.71% |
Current DrawdownCurrent decline from peak | -2.93% | -10.03% | +7.10% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -8.54% | +4.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 5.97% | -3.34% |
Volatility
HUKX.L vs. HEAE.L - Volatility Comparison
The current volatility for HSBC FTSE 100 UCITS ETF GBP (HUKX.L) is 3.60%, while SPDR MSCI Europe Health Care UCITS ETF (HEAE.L) has a volatility of 5.19%. This indicates that HUKX.L experiences smaller price fluctuations and is considered to be less risky than HEAE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HUKX.L | HEAE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 5.19% | -1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 9.63% | 12.20% | -2.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.01% | 16.80% | -5.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.67% | 16.66% | -3.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.95% | 16.08% | -1.13% |
HUKX.L vs. HEAE.L - Expense Ratio Comparison
HUKX.L has a 0.07% expense ratio, which is lower than HEAE.L's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HUKX.L vs. HEAE.L - Dividend Comparison
HUKX.L's dividend yield for the trailing twelve months is around 2.83%, while HEAE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEAE.L SPDR MSCI Europe Health Care UCITS ETF | 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 | 2.83% | 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
HUKX.L and HEAE.L have a correlation of 0.51, 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 0.18% for HEAE.L.
HUKX.L is categorized as Europe Equities, while HEAE.L is Health & Biotech Equities. HUKX.L tracks FTSE AllSh TR GBP, while HEAE.L tracks MSCI World/Health Care NR USD. They also come from different issuers: HSBC and State Street. Their fees differ too: 0.07% for HUKX.L and 0.18% for HEAE.L.
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