HBKU.L vs. HMWD.L
HBKU.L (HSBC Global Sukuk UCITS ETF USD (Acc)) and HMWD.L (HSBC MSCI World UCITS ETF) are both exchange-traded funds - HBKU.L is a Global Sukuk fund tracking the FTSE IdealRatings Sukuk Index, while HMWD.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past year, HBKU.L returned 3.88% vs 20.26% for HMWD.L. At a 0.22 correlation, their price movements are largely independent. HBKU.L charges 0.37%/yr vs 0.15%/yr for HMWD.L.
Performance
HBKU.L vs. HMWD.L - Performance Comparison
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Returns By Period
HBKU.L
- 1D
- 0.09%
- 1M
- -0.35%
- 6M
- 0.17%
- YTD
- 0.00%
- 1Y
- 3.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HMWD.L
- 1D
- -1.02%
- 1M
- -0.68%
- 6M
- 7.40%
- YTD
- 9.01%
- 1Y
- 20.26%
- 3Y*
- 18.36%
- 5Y*
- 11.46%
- 10Y*
- 13.05%
HBKU.L vs. HMWD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HBKU.L HSBC Global Sukuk UCITS ETF USD (Acc) | 0.00% | 7.38% | 2.88% | 4.00% |
HMWD.L HSBC MSCI World UCITS ETF | 9.01% | 21.06% | 19.12% | 7.69% |
Correlation
The correlation between HBKU.L and HMWD.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2023 | 0.22 |
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Return for Risk
HBKU.L vs. HMWD.L — Risk / Return Rank
HBKU.L
HMWD.L
HBKU.L vs. HMWD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Global Sukuk UCITS ETF USD (Acc) (HBKU.L) and HSBC MSCI World UCITS ETF (HMWD.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.
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.
| HBKU.L | HMWD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.30 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 2.43 | -1.30 |
| Martin ratioReturn relative to average drawdown | 3.50 | 9.95 | -6.46 |
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Drawdowns
HBKU.L vs. HMWD.L - Drawdown Comparison
The maximum HBKU.L drawdown since its inception was -3.43%, smaller than the maximum HMWD.L drawdown of -34.01%. Use the drawdown chart below to compare losses from any high point for HBKU.L and HMWD.L.
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Drawdown Indicators
| HBKU.L | HMWD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.43% | -34.01% | +30.58% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -8.30% | +4.87% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.99% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.01% | — |
Current DrawdownCurrent decline from peak | -1.37% | -1.20% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -0.75% | -4.75% | +4.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 2.03% | -0.92% |
Volatility
HBKU.L vs. HMWD.L - Volatility Comparison
The current volatility for HSBC Global Sukuk UCITS ETF USD (Acc) (HBKU.L) is 0.75%, while HSBC MSCI World UCITS ETF (HMWD.L) has a volatility of 3.05%. This indicates that HBKU.L experiences smaller price fluctuations and is considered to be less risky than HMWD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBKU.L | HMWD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 3.05% | -2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 3.62% | 9.88% | -6.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 12.31% | -8.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.62% | 15.63% | -12.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.62% | 15.73% | -12.11% |
HBKU.L vs. HMWD.L - Expense Ratio Comparison
HBKU.L has a 0.37% expense ratio, which is higher than HMWD.L's 0.15% expense ratio.
Dividends
HBKU.L vs. HMWD.L - Dividend Comparison
HBKU.L has not paid dividends to shareholders, while HMWD.L's dividend yield for the trailing twelve months is around 1.18%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBKU.L HSBC Global Sukuk UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HMWD.L HSBC MSCI World UCITS ETF | 1.18% | 1.24% | 1.43% | 1.57% | 1.79% | 1.31% | 1.44% | 1.91% | 2.23% | 1.81% | 2.00% | 1.93% |
Frequently Asked Questions
HBKU.L and HMWD.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HMWD.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HMWD.L is cheaper with a 0.15% expense ratio, compared with 0.37% for HBKU.L.
HBKU.L is categorized as Global Sukuk, while HMWD.L is Global Equities. HBKU.L tracks FTSE IdealRatings Sukuk Index, while HMWD.L tracks MSCI ACWI NR USD. Their fees differ too: 0.37% for HBKU.L and 0.15% for HMWD.L.
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