SOXL.L vs. HNSC.L

Last updated Jun 4, 2026

SOXL.L (Leverage Shares 4x Long Semiconductors ETP Securities) and HNSC.L (HSBC Nasdaq Global Semiconductor UCITS ETF USD) are both exchange-traded funds - SOXL.L is a Leveraged Equities fund tracking the NYSE Semiconductor Index, while HNSC.L is a Semiconductors fund tracking the Nasdaq Global Semiconductor. Both are passively managed. Over the past year, SOXL.L returned 2634.59% vs 205.51% for HNSC.L. With a 0.97 correlation, they move nearly in lockstep. SOXL.L charges 0.75%/yr vs 0.35%/yr for HNSC.L.

Performance

SOXL.L vs. HNSC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 4x Long Semiconductors ETP Securities (SOXL.L) and HSBC Nasdaq Global Semiconductor UCITS ETF USD (HNSC.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOXL.L achieves a 895.51% return, which is significantly higher than HNSC.L's 98.34% return.

SOXL.L

• 1D: 10.01%
• 1M: 168.10%
• YTD: 895.51%
• 6M: 832.48%
• 1Y: 2,634.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HNSC.L

• 1D: 1.63%
• 1M: 30.01%
• YTD: 98.34%
• 6M: 101.55%
• 1Y: 205.51%
• 3Y*: 63.81%
• 5Y*: —
• 10Y*: —

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

SOXL.L vs. HNSC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SOXL.L Leverage Shares 4x Long Semiconductors ETP Securities	895.51%	11.41%	-59.99%
HNSC.L HSBC Nasdaq Global Semiconductor UCITS ETF USD	98.34%	55.83%	-1.55%

Correlation

The correlation between SOXL.L and HNSC.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 (All Time) Calculated using the full available price history since Mar 27, 2024	0.97

The correlation between SOXL.L and HNSC.L has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

SOXL.L vs. HNSC.L — Risk / Return Rank

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

SOXL.L

SOXL.L Risk / Return Rank: 97
SOXL.L Sharpe Ratio Rank: 100
SOXL.L Sortino Ratio Rank: 95
SOXL.L Omega Ratio Rank: 93
SOXL.L Calmar Ratio Rank: 99
SOXL.L Martin Ratio Rank: 99

HNSC.L

HNSC.L Risk / Return Rank: 97
HNSC.L Sharpe Ratio Rank: 98
HNSC.L Sortino Ratio Rank: 97
HNSC.L Omega Ratio Rank: 96
HNSC.L Calmar Ratio Rank: 98
HNSC.L Martin Ratio Rank: 97

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.

SOXL.L vs. HNSC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 4x Long Semiconductors ETP Securities (SOXL.L) and HSBC Nasdaq Global Semiconductor UCITS ETF USD (HNSC.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.

	SOXL.L	HNSC.L	Difference
Sharpe ratio: Return per unit of total volatility	19.17	6.16	+13.01
Sortino ratio: Return per unit of downside risk	5.32	6.06	-0.73
Omega ratio: Gain probability vs. loss probability	1.66	1.78	-0.12
Calmar ratio: Return relative to maximum drawdown	50.03	13.62	+36.42
Martin ratio: Return relative to average drawdown	151.14	49.03	+102.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOXL.L vs. HNSC.L - Sharpe Ratio Comparison

The current SOXL.L Sharpe Ratio is 19.17, which is higher than the HNSC.L Sharpe Ratio of 6.16. The chart below compares the historical Sharpe Ratios of SOXL.L and HNSC.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.

Sharpe Ratios by Period

	SOXL.L	HNSC.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	19.17	6.16	+13.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	1.66	-0.95

Drawdowns

SOXL.L vs. HNSC.L - Drawdown Comparison

The maximum SOXL.L drawdown since its inception was -95.66%, which is greater than HNSC.L's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for SOXL.L and HNSC.L.

Drawdown Indicators

	SOXL.L	HNSC.L	Difference
Max Drawdown Largest peak-to-trough decline	-95.66%	-39.32%	-56.34%
Max Drawdown (1Y) Largest decline over 1 year	-51.95%	-14.99%	-36.96%
Max Drawdown (3Y) Largest decline over 3 years	—	-37.21%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-60.72%	-9.52%	-51.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.23%	4.17%	+13.06%

Volatility

SOXL.L vs. HNSC.L - Volatility Comparison

Leverage Shares 4x Long Semiconductors ETP Securities (SOXL.L) has a higher volatility of 56.48% compared to HSBC Nasdaq Global Semiconductor UCITS ETF USD (HNSC.L) at 14.12%. This indicates that SOXL.L's price experiences larger fluctuations and is considered to be riskier than HNSC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXL.L	HNSC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	56.48%	14.12%	+42.36%
Volatility (6M) Calculated over the trailing 6-month period	103.64%	25.99%	+77.65%
Volatility (1Y) Calculated over the trailing 1-year period	136.05%	33.21%	+102.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	137.50%	37.72%	+99.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	137.50%	37.72%	+99.78%

SOXL.L vs. HNSC.L - Expense Ratio Comparison

SOXL.L has a 0.75% expense ratio, which is higher than HNSC.L's 0.35% expense ratio.

Dividends

SOXL.L vs. HNSC.L - Dividend Comparison

Neither SOXL.L nor HNSC.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SOXL.L and HNSC.L in my portfolio?

With a correlation of 0.97, SOXL.L and HNSC.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.

Which ETF is better, SOXL.L or HNSC.L?

On fees, HNSC.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SOXL.L or HNSC.L?

HNSC.L is cheaper with a 0.35% expense ratio, compared with 0.75% for SOXL.L.

What is the main difference between SOXL.L and HNSC.L?

SOXL.L is categorized as Leveraged Equities, while HNSC.L is Semiconductors. SOXL.L tracks NYSE Semiconductor Index, while HNSC.L tracks Nasdaq Global Semiconductor. They also come from different issuers: Leverage Shares and HSBC. Their fees differ too: 0.75% for SOXL.L and 0.35% for HNSC.L.