HUKX.L vs. VFWAX

Last updated Jul 16, 2026

HUKX.L (HSBC FTSE 100 UCITS ETF GBP) and VFWAX (Vanguard FTSE All-World ex-US Index Fund Admiral Shares) are both funds - HUKX.L is a Europe Equities fund tracking the FTSE AllSh TR GBP, while VFWAX is a Foreign Large Cap Equities fund tracking the FTSE All-World ex US Index. Both are passively managed. Over the past 10 years, HUKX.L returned 8.55%/yr vs 9.50%/yr for VFWAX. A 0.65 correlation means they provide meaningful diversification when combined. HUKX.L charges 0.07%/yr vs 0.11%/yr for VFWAX.

Performance

HUKX.L vs. VFWAX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC FTSE 100 UCITS ETF GBP (HUKX.L) and Vanguard FTSE All-World ex-US Index Fund Admiral Shares (VFWAX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HUKX.L is traded in GBp, while VFWAX is traded in USD. To make them comparable, the VFWAX 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 7.20% return, which is significantly lower than VFWAX's 13.84% return. Over the past 10 years, HUKX.L has underperformed VFWAX with an annualized return of 8.55%, while VFWAX has yielded a comparatively higher 9.50% annualized return.

HUKX.L

• 1D: -0.19%
• 1M: 0.75%
• 6M: 4.49%
• YTD: 7.20%
• 1Y: 20.66%
• 3Y*: 16.02%
• 5Y*: 12.33%
• 10Y*: 8.55%

VFWAX

• 1D: 0.65%
• 1M: -2.01%
• 6M: 9.36%
• YTD: 13.84%
• 1Y: 27.41%
• 3Y*: 16.68%
• 5Y*: 9.62%
• 10Y*: 9.50%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HUKX.L vs. VFWAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HUKX.L HSBC FTSE 100 UCITS ETF GBP	7.20%	26.20%	9.58%	7.36%	5.07%	17.54%	-11.64%	17.42%	-8.67%	12.39%
VFWAX Vanguard FTSE All-World ex-US Index Fund Admiral Shares	13.84%	22.89%	7.27%	9.78%	-5.47%	9.11%	8.07%	16.91%	-8.87%	16.20%

Correlation

The correlation between HUKX.L and VFWAX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011	0.65

The correlation between HUKX.L and VFWAX shifts across timeframes, from 0.50 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

HUKX.L vs. VFWAX - Sectors Allocation Comparison

Sectors	HUKX.L	VFWAX
Financial Services	25.2%	22.6%
Industrials	13.9%	15.0%
Consumer Defensive	13.8%	4.9%
Healthcare	13.3%	6.7%
Energy	10.8%	4.7%
Basic Materials	9.0%	7.1%
Consumer Cyclical	5.0%	8.0%
Utilities	4.8%	3.0%
Communication Services	2.5%	4.5%
Real Estate	0.9%	1.9%
Technology	0.8%	21.6%

Return for Risk

HUKX.L vs. VFWAX — 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: 66
HUKX.L Sharpe Ratio Rank: 71
HUKX.L Sortino Ratio Rank: 70
HUKX.L Omega Ratio Rank: 74
HUKX.L Calmar Ratio Rank: 58
HUKX.L Martin Ratio Rank: 55

VFWAX

VFWAX Risk / Return Rank: 60
VFWAX Sharpe Ratio Rank: 61
VFWAX Sortino Ratio Rank: 55
VFWAX Omega Ratio Rank: 62
VFWAX Calmar Ratio Rank: 62
VFWAX Martin Ratio Rank: 59

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. VFWAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC FTSE 100 UCITS ETF GBP (HUKX.L) and Vanguard FTSE All-World ex-US Index Fund Admiral Shares (VFWAX). 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	VFWAX	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.01	-0.17
Sortino ratio: Return per unit of downside risk	2.56	2.65	-0.09
Omega ratio: Gain probability vs. loss probability	1.35	1.40	-0.05
Calmar ratio: Return relative to maximum drawdown	2.34	2.79	-0.45
Martin ratio: Return relative to average drawdown	7.55	10.44	-2.89

HUKX.L vs. VFWAX - Sharpe Ratio Comparison

The current HUKX.L Sharpe Ratio is 1.84, which is comparable to the VFWAX Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of HUKX.L and VFWAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HUKX.L vs. VFWAX - Drawdown Comparison

The maximum HUKX.L drawdown since its inception was -34.22%, which is greater than VFWAX's maximum drawdown of -27.55%. Use the drawdown chart below to compare losses from any high point for HUKX.L and VFWAX.

Drawdown Indicators

	HUKX.L	VFWAX	Difference
Max Drawdown Largest peak-to-trough decline	-34.22%	-27.55%	-6.67%
Max Drawdown (1Y) Largest decline over 1 year	-8.78%	-9.81%	+1.03%
Max Drawdown (3Y) Largest decline over 3 years	-12.95%	-12.67%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-12.95%	-14.21%	+1.26%
Max Drawdown (10Y) Largest decline over 10 years	-34.22%	-27.55%	-6.67%
Current Drawdown Current decline from peak	-2.52%	-3.88%	+1.36%
Average Drawdown Average peak-to-trough decline	-4.36%	-4.36%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.61%	+0.12%

Volatility

HUKX.L vs. VFWAX - Volatility Comparison

The current volatility for HSBC FTSE 100 UCITS ETF GBP (HUKX.L) is 3.03%, while Vanguard FTSE All-World ex-US Index Fund Admiral Shares (VFWAX) has a volatility of 5.20%. This indicates that HUKX.L experiences smaller price fluctuations and is considered to be less risky than VFWAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HUKX.L	VFWAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	5.20%	-2.17%
Volatility (6M) Calculated over the trailing 6-month period	9.72%	11.90%	-2.18%
Volatility (1Y) Calculated over the trailing 1-year period	11.22%	13.60%	-2.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.63%	12.52%	+0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.77%	14.56%	+0.21%

HUKX.L vs. VFWAX - Expense Ratio Comparison

HUKX.L has a 0.07% expense ratio, which is lower than VFWAX's 0.11% 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. VFWAX - Dividend Comparison

HUKX.L's dividend yield for the trailing twelve months is around 2.81%, more than VFWAX's 2.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HUKX.L HSBC FTSE 100 UCITS ETF GBP	2.81%	2.95%	3.74%	3.50%	3.63%	3.19%	4.04%	4.31%	4.35%	3.79%	3.49%	3.79%
VFWAX Vanguard FTSE All-World ex-US Index Fund Admiral Shares	2.52%	3.05%	3.20%	3.28%	3.07%	3.03%	1.97%	3.07%	3.24%	2.67%	2.96%	2.95%

Frequently Asked Questions

Can I hold both HUKX.L and VFWAX in my portfolio?

HUKX.L and VFWAX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.