HCAD.L vs. HMWD.L
HCAD.L (HSBC MSCI Canada UCITS ETF) and HMWD.L (HSBC MSCI World UCITS ETF) are both Global Equities funds from HSBC - HCAD.L tracks the HSBC MSCI Canada UCITS ETF while HMWD.L tracks the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, HCAD.L returned 10.99%/yr vs 13.16%/yr for HMWD.L. Their correlation of 0.81 suggests significant overlap in exposure. HCAD.L charges 0.35%/yr vs 0.15%/yr for HMWD.L.
Performance
HCAD.L vs. HMWD.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HCAD.L having a 10.17% return and HMWD.L slightly higher at 10.23%. Over the past 10 years, HCAD.L has underperformed HMWD.L with an annualized return of 10.99%, while HMWD.L has yielded a comparatively higher 13.16% annualized return.
HCAD.L
- 1D
- 0.03%
- 1M
- 0.76%
- 6M
- 8.45%
- YTD
- 10.17%
- 1Y
- 30.52%
- 3Y*
- 21.36%
- 5Y*
- 12.48%
- 10Y*
- 10.99%
HMWD.L
- 1D
- 0.10%
- 1M
- 0.20%
- 6M
- 9.06%
- YTD
- 10.23%
- 1Y
- 22.04%
- 3Y*
- 18.94%
- 5Y*
- 11.71%
- 10Y*
- 13.16%
HCAD.L vs. HMWD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HCAD.L HSBC MSCI Canada UCITS ETF | 10.17% | 36.92% | 12.13% | 15.13% | -12.45% | 24.30% | 5.88% | 26.16% | -17.43% | 15.40% |
HMWD.L HSBC MSCI World UCITS ETF | 10.23% | 21.06% | 19.12% | 24.61% | -18.25% | 22.44% | 16.43% | 27.45% | -8.90% | 23.11% |
Correlation
The correlation between HCAD.L and HMWD.L is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2011 | 0.81 |
The correlation between HCAD.L and HMWD.L has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.
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Return for Risk
HCAD.L vs. HMWD.L — Risk / Return Rank
HCAD.L
HMWD.L
HCAD.L vs. HMWD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Canada UCITS ETF (HCAD.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.
| HCAD.L | HMWD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.32 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.97 | 2.65 | +1.33 |
| Martin ratioReturn relative to average drawdown | 15.09 | 10.84 | +4.25 |
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Drawdowns
HCAD.L vs. HMWD.L - Drawdown Comparison
The maximum HCAD.L drawdown since its inception was -43.05%, which is greater than HMWD.L's maximum drawdown of -34.01%. Use the drawdown chart below to compare losses from any high point for HCAD.L and HMWD.L.
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Drawdown Indicators
| HCAD.L | HMWD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.05% | -34.01% | -9.04% |
Max Drawdown (1Y)Largest decline over 1 year | -7.60% | -8.30% | +0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -12.72% | -17.58% | +4.86% |
Max Drawdown (5Y)Largest decline over 5 years | -24.80% | -25.99% | +1.19% |
Max Drawdown (10Y)Largest decline over 10 years | -41.07% | -34.01% | -7.06% |
Current DrawdownCurrent decline from peak | 0.00% | -0.10% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -10.56% | -4.75% | -5.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 2.03% | -0.02% |
Volatility
HCAD.L vs. HMWD.L - Volatility Comparison
HSBC MSCI Canada UCITS ETF (HCAD.L) has a higher volatility of 3.93% compared to HSBC MSCI World UCITS ETF (HMWD.L) at 2.93%. This indicates that HCAD.L's price experiences larger fluctuations and is considered to be riskier 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
| HCAD.L | HMWD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 2.93% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 9.97% | 9.85% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.20% | 12.29% | +0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.25% | 15.63% | +1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.85% | 15.73% | +2.12% |
HCAD.L vs. HMWD.L - Expense Ratio Comparison
HCAD.L has a 0.35% expense ratio, which is higher than HMWD.L's 0.15% expense ratio.
Dividends
HCAD.L vs. HMWD.L - Dividend Comparison
HCAD.L's dividend yield for the trailing twelve months is around 1.39%, more than HMWD.L's 1.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HCAD.L HSBC MSCI Canada UCITS ETF | 1.39% | 1.49% | 2.00% | 2.10% | 2.01% | 1.57% | 1.81% | 1.91% | 2.17% | 1.53% | 1.77% | 2.25% |
HMWD.L HSBC MSCI World UCITS ETF | 1.17% | 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
HCAD.L and HMWD.L have a correlation of 0.75, 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 0.35% for HCAD.L.
HCAD.L tracks HSBC MSCI Canada UCITS ETF, while HMWD.L tracks MSCI ACWI NR USD. Their fees differ too: 0.35% for HCAD.L and 0.15% for HMWD.L.
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