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

HUKX.L vs. ICLN

Last updated Jun 14, 2026

HUKX.L (HSBC FTSE 100 UCITS ETF GBP) and ICLN (iShares Global Clean Energy ETF) are both exchange-traded funds - HUKX.L is a Europe Equities fund tracking the FTSE AllSh TR GBP, while ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Both are passively managed. Over the past 10 years, HUKX.L returned 9.82%/yr vs 12.25%/yr for ICLN. At a 0.41 correlation, their price movements are largely independent. HUKX.L charges 0.07%/yr vs 0.39%/yr for ICLN.

Performance

HUKX.L vs. ICLN - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC FTSE 100 UCITS ETF GBP (HUKX.L) and iShares Global Clean Energy ETF (ICLN). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HUKX.L is traded in GBp, while ICLN is traded in USD. To make them comparable, the ICLN 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 lower than ICLN's 27.98% return. Over the past 10 years, HUKX.L has underperformed ICLN with an annualized return of 9.82%, while ICLN has yielded a comparatively higher 12.25% 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%

ICLN

1D
0.96%
1M
-5.49%
YTD
27.98%
6M
26.69%
1Y
62.20%
3Y*
3.13%
5Y*
0.82%
10Y*
12.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HUKX.L vs. ICLN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
ICLN
iShares Global Clean Energy ETF		27.98%36.57%-24.42%-24.38%5.82%-23.46%134.72%38.87%-3.64%10.96%

Correlation

The correlation between HUKX.L and ICLN is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.26

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

0.30

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

0.28

Correlation (10Y)
Calculated over the trailing 10-year period

0.34

Correlation (All Time)
Calculated using the full available price history since Aug 24, 2009

0.41

The correlation between HUKX.L and ICLN shifts across timeframes, from 0.26 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.

HUKX.L vs. ICLN - Sectors Allocation Comparison

Sectors
HUKX.L
ICLN

Financial Services

26.4%

-

Consumer Defensive

13.1%

-

Industrials

13.0%
26.2%

Healthcare

12.4%

-

Energy

10.9%
24.9%

Basic Materials

9.0%
1.3%

Consumer Cyclical

4.7%
0.1%

Utilities

4.6%
35.4%

Communication Services

2.3%

-

Real Estate

1.0%

-

Technology

0.3%
10.8%

Financial Services

HUKX.L
26.4%
ICLN

-

Consumer Defensive

HUKX.L
13.1%
ICLN

-

Industrials

HUKX.L
13.0%
ICLN
26.2%

Healthcare

HUKX.L
12.4%
ICLN

-

Energy

HUKX.L
10.9%
ICLN
24.9%

Basic Materials

HUKX.L
9.0%
ICLN
1.3%

Consumer Cyclical

HUKX.L
4.7%
ICLN
0.1%

Utilities

HUKX.L
4.6%
ICLN
35.4%

Communication Services

HUKX.L
2.3%
ICLN

-

Real Estate

HUKX.L
1.0%
ICLN

-

Technology

HUKX.L
0.3%
ICLN
10.8%

Compare stocks, funds, or ETFs

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

HSBC FTSE 100 UCITS ETF GBP

iShares Global Clean Energy ETF

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
Often compared with ICLN:
ICLN vs. TANICLN vs. QCLNICLN vs. GRIDICLN vs. INRG.LICLN vs. PBWICLN vs. CNRGICLN vs. LIT

Return for Risk

HUKX.L vs. ICLN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HUKX.L
HUKX.L Risk / Return Rank: 6262
Overall Rank
HUKX.L Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
HUKX.L Sortino Ratio Rank: 6767
Sortino Ratio Rank
HUKX.L Omega Ratio Rank: 6868
Omega Ratio Rank
HUKX.L Calmar Ratio Rank: 5454
Calmar Ratio Rank
HUKX.L Martin Ratio Rank: 5252
Martin Ratio Rank
ICLN
ICLN Risk / Return Rank: 7575
Overall Rank
ICLN Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
ICLN Sortino Ratio Rank: 7070
Sortino Ratio Rank
ICLN Omega Ratio Rank: 6767
Omega Ratio Rank
ICLN Calmar Ratio Rank: 8181
Calmar Ratio Rank
ICLN Martin Ratio Rank: 8181
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.

HUKX.L vs. ICLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC FTSE 100 UCITS ETF GBP (HUKX.L) and iShares Global Clean Energy ETF (ICLN). 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.LICLNDifference
Sharpe ratioReturn per unit of total volatility
1.90
2.38

-0.48

Sortino ratioReturn per unit of downside risk
2.66
2.99

-0.33

Omega ratioGain probability vs. loss probability

1.36

1.38

-0.02

Calmar ratioReturn relative to maximum drawdown

2.38

4.03

-1.65

Martin ratioReturn relative to average drawdown

7.97

13.19

-5.22

HUKX.L vs. ICLN - Sharpe Ratio Comparison

The current HUKX.L Sharpe Ratio is 1.90, which is comparable to the ICLN Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of HUKX.L and ICLN, 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

HUKX.L vs. ICLN - Drawdown Comparison

The maximum HUKX.L drawdown since its inception was -34.22%, smaller than the maximum ICLN drawdown of -84.40%. Use the drawdown chart below to compare losses from any high point for HUKX.L and ICLN.

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Drawdown Indicators

HUKX.LICLNDifference

Max Drawdown

Largest peak-to-trough decline

-34.22%

-84.40%

+50.18%

Max Drawdown (1Y)

Largest decline over 1 year

-8.78%

-15.79%

+7.01%

Max Drawdown (3Y)

Largest decline over 3 years

-12.95%

-42.62%

+29.67%

Max Drawdown (5Y)

Largest decline over 5 years

-12.95%

-57.04%

+44.09%

Max Drawdown (10Y)

Largest decline over 10 years

-34.22%

-64.68%

+30.46%

Current Drawdown

Current decline from peak

-2.93%

-32.10%

+29.17%

Average Drawdown

Average peak-to-trough decline

-4.37%

-57.59%

+53.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.63%

4.82%

-2.19%

Volatility

HUKX.L vs. ICLN - Volatility Comparison

The current volatility for HSBC FTSE 100 UCITS ETF GBP (HUKX.L) is 3.60%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 12.56%. This indicates that HUKX.L experiences smaller price fluctuations and is considered to be less risky than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HUKX.LICLNDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.60%

12.56%

-8.96%

Volatility (6M)

Calculated over the trailing 6-month period

9.63%

21.31%

-11.68%

Volatility (1Y)

Calculated over the trailing 1-year period

11.01%

26.75%

-15.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.67%

25.64%

-12.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.95%

26.28%

-11.33%

HUKX.L vs. ICLN - Expense Ratio Comparison

HUKX.L has a 0.07% expense ratio, which is lower than ICLN's 0.39% expense ratio.

Dividends

HUKX.L vs. ICLN - Dividend Comparison

HUKX.L's dividend yield for the trailing twelve months is around 2.83%, more than ICLN's 1.28% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
ICLN
iShares Global Clean Energy ETF		1.28%1.63%1.85%1.59%0.89%1.18%0.34%1.36%2.77%2.49%3.88%2.36%

Frequently Asked Questions

HUKX.L and ICLN have a correlation of 0.26, 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 0.39% for ICLN.

HUKX.L is categorized as Europe Equities, while ICLN is Alternative Energy Equities. HUKX.L tracks FTSE AllSh TR GBP, while ICLN tracks S&P Global Clean Energy Index. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.07% for HUKX.L and 0.39% for ICLN.

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