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

HUKX.L vs. IEUR

Last updated Jun 14, 2026

HUKX.L (HSBC FTSE 100 UCITS ETF GBP) and IEUR (iShares Core MSCI Europe ETF) are both Europe Equities funds - HUKX.L tracks the FTSE AllSh TR GBP while IEUR tracks the MSCI Europe Investable Market Index. Both are passively managed. Over the past 10 years, HUKX.L returned 9.82%/yr vs 10.68%/yr for IEUR. A 0.67 correlation means they provide meaningful diversification when combined. HUKX.L charges 0.07%/yr vs 0.09%/yr for IEUR.

Performance

HUKX.L vs. IEUR - 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 Core MSCI Europe ETF (IEUR). 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 IEUR is traded in USD. To make them comparable, the IEUR 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 IEUR's 8.20% return. Over the past 10 years, HUKX.L has underperformed IEUR with an annualized return of 9.82%, while IEUR has yielded a comparatively higher 10.68% 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%

IEUR

1D
0.23%
1M
2.38%
YTD
8.20%
6M
9.50%
1Y
20.58%
3Y*
14.07%
5Y*
9.38%
10Y*
10.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HUKX.L vs. IEUR - 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%
IEUR
iShares Core MSCI Europe ETF		8.20%26.01%3.17%13.72%-5.90%17.82%2.22%20.20%-9.81%15.75%

Correlation

The correlation between HUKX.L and IEUR is 0.65, 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

0.65

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

0.64

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

0.64

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

0.66

Correlation (All Time)
Calculated using the full available price history since Jun 12, 2014

0.67

The correlation between HUKX.L and IEUR has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.

HUKX.L vs. IEUR - Sectors Allocation Comparison

Sectors
HUKX.L
IEUR

Financial Services

26.4%
22.5%

Consumer Defensive

13.1%
7.7%

Industrials

13.0%
20.3%

Healthcare

12.4%
12.5%

Energy

10.9%
4.9%

Basic Materials

9.0%
5.8%

Consumer Cyclical

4.7%
7.0%

Utilities

4.6%
4.4%

Communication Services

2.3%
3.9%

Real Estate

1.0%
1.5%

Technology

0.3%
9.4%

Financial Services

HUKX.L
26.4%
IEUR
22.5%

Consumer Defensive

HUKX.L
13.1%
IEUR
7.7%

Industrials

HUKX.L
13.0%
IEUR
20.3%

Healthcare

HUKX.L
12.4%
IEUR
12.5%

Energy

HUKX.L
10.9%
IEUR
4.9%

Basic Materials

HUKX.L
9.0%
IEUR
5.8%

Consumer Cyclical

HUKX.L
4.7%
IEUR
7.0%

Utilities

HUKX.L
4.6%
IEUR
4.4%

Communication Services

HUKX.L
2.3%
IEUR
3.9%

Real Estate

HUKX.L
1.0%
IEUR
1.5%

Technology

HUKX.L
0.3%
IEUR
9.4%

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 Core MSCI Europe 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 IEUR:
IEUR vs. VGKIEUR vs. IEVIEUR vs. IMEU.LIEUR vs. FEZIEUR vs. EZUIEUR vs. VOOIEUR vs. EFA

Return for Risk

HUKX.L vs. IEUR — 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
IEUR
IEUR Risk / Return Rank: 3535
Overall Rank
IEUR Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
IEUR Sortino Ratio Rank: 3535
Sortino Ratio Rank
IEUR Omega Ratio Rank: 3333
Omega Ratio Rank
IEUR Calmar Ratio Rank: 3333
Calmar Ratio Rank
IEUR Martin Ratio Rank: 3939
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. IEUR - 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 Core MSCI Europe ETF (IEUR). 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.LIEURDifference
Sharpe ratioReturn per unit of total volatility
1.90
1.47

+0.43

Sortino ratioReturn per unit of downside risk
2.66
2.12

+0.54

Omega ratioGain probability vs. loss probability

1.36

1.27

+0.09

Calmar ratioReturn relative to maximum drawdown

2.38

1.74

+0.64

Martin ratioReturn relative to average drawdown

7.97

6.85

+1.12

HUKX.L vs. IEUR - Sharpe Ratio Comparison

The current HUKX.L Sharpe Ratio is 1.90, which is comparable to the IEUR Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of HUKX.L and IEUR, 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. IEUR - Drawdown Comparison

The maximum HUKX.L drawdown since its inception was -34.22%, which is greater than IEUR's maximum drawdown of -30.58%. Use the drawdown chart below to compare losses from any high point for HUKX.L and IEUR.

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Drawdown Indicators

HUKX.LIEURDifference

Max Drawdown

Largest peak-to-trough decline

-34.22%

-30.58%

-3.64%

Max Drawdown (1Y)

Largest decline over 1 year

-8.78%

-11.06%

+2.28%

Max Drawdown (3Y)

Largest decline over 3 years

-12.95%

-13.06%

+0.11%

Max Drawdown (5Y)

Largest decline over 5 years

-12.95%

-17.67%

+4.72%

Max Drawdown (10Y)

Largest decline over 10 years

-34.22%

-30.58%

-3.64%

Current Drawdown

Current decline from peak

-2.93%

0.00%

-2.93%

Average Drawdown

Average peak-to-trough decline

-4.37%

-4.41%

+0.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.63%

2.81%

-0.18%

Volatility

HUKX.L vs. IEUR - Volatility Comparison

The current volatility for HSBC FTSE 100 UCITS ETF GBP (HUKX.L) is 3.60%, while iShares Core MSCI Europe ETF (IEUR) has a volatility of 4.74%. This indicates that HUKX.L experiences smaller price fluctuations and is considered to be less risky than IEUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HUKX.LIEURDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.60%

4.74%

-1.14%

Volatility (6M)

Calculated over the trailing 6-month period

9.63%

11.19%

-1.56%

Volatility (1Y)

Calculated over the trailing 1-year period

11.01%

13.13%

-2.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.67%

14.24%

-1.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.95%

16.31%

-1.36%

HUKX.L vs. IEUR - Expense Ratio Comparison

HUKX.L has a 0.07% expense ratio, which is lower than IEUR's 0.09% 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. IEUR - Dividend Comparison

HUKX.L's dividend yield for the trailing twelve months is around 2.83%, more than IEUR's 2.76% 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%
IEUR
iShares Core MSCI Europe ETF		2.76%2.97%3.54%3.17%3.05%2.88%2.13%3.26%3.76%2.64%3.19%2.79%

Frequently Asked Questions

HUKX.L and IEUR have a correlation of 0.65, 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 0.09% for IEUR.

HUKX.L tracks FTSE AllSh TR GBP, while IEUR tracks MSCI Europe Investable Market Index. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.07% for HUKX.L and 0.09% for IEUR.

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