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

S100.L vs. HUKX.L

Last updated Jun 5, 2026

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

Performance

S100.L vs. HUKX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco FTSE 100 UCITS ETF (S100.L) and HSBC FTSE 100 UCITS ETF GBP (HUKX.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 stocks are quite close, with S100.L having a 5.86% return and HUKX.L slightly lower at 5.71%. Both investments have delivered pretty close results over the past 10 years, with S100.L having a 8.88% annualized return and HUKX.L not far ahead at 9.07%.

S100.L

1D
0.30%
1M
1.64%
YTD
5.86%
6M
8.26%
1Y
21.25%
3Y*
14.67%
5Y*
11.75%
10Y*
8.88%

HUKX.L

1D
0.29%
1M
1.39%
YTD
5.71%
6M
8.18%
1Y
20.97%
3Y*
14.79%
5Y*
11.88%
10Y*
9.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%
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%

Correlation

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

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

Sectors
S100.L
HUKX.L

Financial Services

24.5%
26.2%

Consumer Defensive

13.9%
13.7%

Industrials

13.7%
13.0%

Healthcare

13.6%
12.9%

Energy

11.7%
10.7%

Basic Materials

8.5%
8.5%

Utilities

5.3%
4.8%

Consumer Cyclical

4.7%
4.5%

Communication Services

2.6%
2.3%

Real Estate

0.9%
1.0%

Technology

0.8%
0.3%

Financial Services

S100.L
24.5%
HUKX.L
26.2%

Consumer Defensive

S100.L
13.9%
HUKX.L
13.7%

Industrials

S100.L
13.7%
HUKX.L
13.0%

Healthcare

S100.L
13.6%
HUKX.L
12.9%

Energy

S100.L
11.7%
HUKX.L
10.7%

Basic Materials

S100.L
8.5%
HUKX.L
8.5%

Utilities

S100.L
5.3%
HUKX.L
4.8%

Consumer Cyclical

S100.L
4.7%
HUKX.L
4.5%

Communication Services

S100.L
2.6%
HUKX.L
2.3%

Real Estate

S100.L
0.9%
HUKX.L
1.0%

Technology

S100.L
0.8%
HUKX.L
0.3%

Compare stocks, funds, or ETFs

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Invesco FTSE 100 UCITS ETF

HSBC FTSE 100 UCITS ETF GBP

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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
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

Return for Risk

S100.L vs. HUKX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
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
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
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.

S100.L vs. HUKX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE 100 UCITS ETF (S100.L) and HSBC FTSE 100 UCITS ETF GBP (HUKX.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.

S100.LHUKX.LDifference
Sharpe ratioReturn per unit of total volatility
1.93
1.93

0.00

Sortino ratioReturn per unit of downside risk
2.68
2.70

-0.02

Omega ratioGain probability vs. loss probability

1.36

1.36

-0.01

Calmar ratioReturn relative to maximum drawdown

2.35

2.38

-0.03

Martin ratioReturn relative to average drawdown

8.00

8.21

-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.

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

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

S100.LHUKX.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

0.92

0.94

-0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

0.61

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.58

0.53

+0.04

Drawdowns

S100.L vs. HUKX.L - Drawdown Comparison

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

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Drawdown Indicators

S100.LHUKX.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.58%

-34.22%

-0.36%

Max Drawdown (1Y)

Largest decline over 1 year

-9.02%

-8.78%

-0.24%

Max Drawdown (3Y)

Largest decline over 3 years

-13.04%

-12.95%

-0.09%

Max Drawdown (5Y)

Largest decline over 5 years

-13.04%

-12.95%

-0.09%

Max Drawdown (10Y)

Largest decline over 10 years

-34.58%

-34.22%

-0.36%

Current Drawdown

Current decline from peak

-3.98%

-3.87%

-0.11%

Average Drawdown

Average peak-to-trough decline

-4.49%

-4.37%

-0.12%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.65%

2.55%

+0.10%

Volatility

S100.L vs. HUKX.L - Volatility Comparison

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

S100.LHUKX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.91%

3.90%

+0.01%

Volatility (6M)

Calculated over the trailing 6-month period

9.53%

9.43%

+0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

10.96%

10.82%

+0.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.78%

12.65%

+0.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.09%

14.96%

+0.13%

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

S100.L has a 0.09% expense ratio, which is higher than HUKX.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

S100.L vs. HUKX.L - Dividend Comparison

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

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, S100.L and HUKX.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: Invesco and HSBC. Their fees differ too: 0.09% for S100.L and 0.07% for HUKX.L.

Portfolio Optimizer

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