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HUKX.L vs. S100.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HUKX.L vs. S100.L

Last updated Jun 5, 2026

HUKX.L (HSBC FTSE 100 UCITS ETF GBP) and S100.L (Invesco FTSE 100 UCITS ETF) are both Europe Equities funds tracking the FTSE AllSh TR GBP, from HSBC and Invesco respectively. Both are passively managed. Over the past 10 years, HUKX.L returned 9.07%/yr vs 8.88%/yr for S100.L. Their correlation of 0.85 suggests significant overlap in exposure. HUKX.L charges 0.07%/yr vs 0.09%/yr for S100.L.

Performance

HUKX.L vs. S100.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC FTSE 100 UCITS ETF GBP (HUKX.L) and Invesco FTSE 100 UCITS ETF (S100.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with HUKX.L having a 5.71% return and S100.L slightly higher at 5.86%. Both investments have delivered pretty close results over the past 10 years, with HUKX.L having a 9.07% annualized return and S100.L not far behind at 8.88%.

HUKX.L

1D
0.29%
1M
-0.57%
YTD
5.71%
6M
8.70%
1Y
20.92%
3Y*
14.79%
5Y*
11.88%
10Y*
9.07%

S100.L

1D
0.30%
1M
-0.41%
YTD
5.86%
6M
8.86%
1Y
21.15%
3Y*
14.67%
5Y*
11.75%
10Y*
8.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HUKX.L vs. S100.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HUKX.L
HSBC FTSE 100 UCITS ETF GBP		5.71%26.20%9.58%7.36%5.07%17.54%-11.64%17.42%-8.67%12.39%
S100.L
Invesco FTSE 100 UCITS ETF		5.86%25.76%9.34%7.33%4.91%17.58%-11.72%17.44%-9.33%12.12%

Correlation

The correlation between HUKX.L and S100.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.97

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

0.98

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

0.98

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

0.98

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2009

0.85

The correlation between HUKX.L and S100.L shifts across timeframes, from 0.85 (all time) to 0.98 (10 years), reflecting how their relationship changes across market environments.

HUKX.L vs. S100.L - Sectors Allocation Comparison

Sectors
HUKX.L
S100.L

Financial Services

26.2%
24.5%

Consumer Defensive

13.7%
13.9%

Industrials

13.0%
13.7%

Healthcare

12.9%
13.6%

Energy

10.7%
11.7%

Basic Materials

8.5%
8.5%

Utilities

4.8%
5.3%

Consumer Cyclical

4.5%
4.7%

Communication Services

2.3%
2.6%

Real Estate

1.0%
0.9%

Technology

0.3%
0.8%

Financial Services

HUKX.L
26.2%
S100.L
24.5%

Consumer Defensive

HUKX.L
13.7%
S100.L
13.9%

Industrials

HUKX.L
13.0%
S100.L
13.7%

Healthcare

HUKX.L
12.9%
S100.L
13.6%

Energy

HUKX.L
10.7%
S100.L
11.7%

Basic Materials

HUKX.L
8.5%
S100.L
8.5%

Utilities

HUKX.L
4.8%
S100.L
5.3%

Consumer Cyclical

HUKX.L
4.5%
S100.L
4.7%

Communication Services

HUKX.L
2.3%
S100.L
2.6%

Real Estate

HUKX.L
1.0%
S100.L
0.9%

Technology

HUKX.L
0.3%
S100.L
0.8%

Compare stocks, funds, or ETFs

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HSBC FTSE 100 UCITS ETF GBP

Invesco FTSE 100 UCITS 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 S100.L:
S100.L vs. VUKG.LS100.L vs. EQAC.MIS100.L vs. LGUK.LS100.L vs. CUKX.LS100.L vs. QQQS100.L vs. V3PL.DES100.L vs. VOO

Return for Risk

HUKX.L vs. S100.L — 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: 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
S100.L
S100.L Risk / Return Rank: 5454
Overall Rank
S100.L Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
S100.L Sortino Ratio Rank: 5757
Sortino Ratio Rank
S100.L Omega Ratio Rank: 5959
Omega Ratio Rank
S100.L Calmar Ratio Rank: 4848
Calmar Ratio Rank
S100.L Martin Ratio Rank: 4949
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. S100.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 Invesco FTSE 100 UCITS ETF (S100.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.

HUKX.LS100.LDifference
Sharpe ratioReturn per unit of total volatility
1.93
1.93

0.00

Sortino ratioReturn per unit of downside risk
2.70
2.68

+0.02

Omega ratioGain probability vs. loss probability

1.36

1.36

+0.01

Calmar ratioReturn relative to maximum drawdown

2.38

2.35

+0.03

Martin ratioReturn relative to average drawdown

8.21

8.00

+0.20

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HUKX.L vs. S100.L - Sharpe Ratio Comparison

The current HUKX.L Sharpe Ratio is 1.93, which is comparable to the S100.L Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of HUKX.L and S100.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

HUKX.LS100.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.93

1.93

0.00

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.94

0.92

+0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

0.59

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

0.58

-0.04

Drawdowns

HUKX.L vs. S100.L - Drawdown Comparison

The maximum HUKX.L drawdown since its inception was -34.22%, roughly equal to the maximum S100.L drawdown of -34.58%. Use the drawdown chart below to compare losses from any high point for HUKX.L and S100.L.

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Drawdown Indicators

HUKX.LS100.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.22%

-34.58%

+0.36%

Max Drawdown (1Y)

Largest decline over 1 year

-8.78%

-9.02%

+0.24%

Max Drawdown (3Y)

Largest decline over 3 years

-12.95%

-13.04%

+0.09%

Max Drawdown (5Y)

Largest decline over 5 years

-12.95%

-13.04%

+0.09%

Max Drawdown (10Y)

Largest decline over 10 years

-34.22%

-34.58%

+0.36%

Current Drawdown

Current decline from peak

-3.87%

-3.98%

+0.11%

Average Drawdown

Average peak-to-trough decline

-4.37%

-4.49%

+0.12%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.55%

2.65%

-0.10%

Volatility

HUKX.L vs. S100.L - Volatility Comparison

HSBC FTSE 100 UCITS ETF GBP (HUKX.L) and Invesco FTSE 100 UCITS ETF (S100.L) have volatilities of 3.90% and 3.91%, 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

HUKX.LS100.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.90%

3.91%

-0.01%

Volatility (6M)

Calculated over the trailing 6-month period

9.43%

9.53%

-0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

10.82%

10.96%

-0.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.65%

12.78%

-0.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.96%

15.09%

-0.13%

HUKX.L vs. S100.L - Expense Ratio Comparison

HUKX.L has a 0.07% expense ratio, which is lower than S100.L'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. S100.L - Dividend Comparison

HUKX.L's dividend yield for the trailing twelve months is around 2.85%, while S100.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
S100.L
Invesco FTSE 100 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%

Frequently Asked Questions

With a correlation of 0.97, HUKX.L and S100.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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 S100.L.

Both ETFs track FTSE AllSh TR GBP. They also come from different issuers: HSBC and Invesco. Their fees differ too: 0.07% for HUKX.L and 0.09% for S100.L.

Portfolio Optimizer

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