HCAN.L vs. HMWD.L
HCAN.L (HSBC MSCI Canada UCITS ETF) and HMWD.L (HSBC MSCI World UCITS ETF) are both Global Equities funds from HSBC - HCAN.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, HCAN.L returned 10.39%/yr vs 12.86%/yr for HMWD.L. A 0.74 correlation means they provide meaningful diversification when combined. HCAN.L charges 0.35%/yr vs 0.15%/yr for HMWD.L.
Performance
HCAN.L vs. HMWD.L - Performance Comparison
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Different Trading Currencies
HCAN.L is traded in GBp, while HMWD.L is traded in USD. To make them comparable, the HMWD.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with HCAN.L having a 9.55% return and HMWD.L slightly higher at 9.78%. Over the past 10 years, HCAN.L has underperformed HMWD.L with an annualized return of 10.39%, while HMWD.L has yielded a comparatively higher 12.86% annualized return.
HCAN.L
- 1D
- -0.17%
- 1M
- 0.23%
- 6M
- 7.92%
- YTD
- 9.55%
- 1Y
- 29.38%
- 3Y*
- 20.05%
- 5Y*
- 12.91%
- 10Y*
- 10.39%
HMWD.L
- 1D
- -0.94%
- 1M
- -0.67%
- 6M
- 8.39%
- YTD
- 9.78%
- 1Y
- 20.75%
- 3Y*
- 17.64%
- 5Y*
- 12.10%
- 10Y*
- 12.86%
HCAN.L vs. HMWD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HCAN.L HSBC MSCI Canada UCITS ETF | 9.55% | 27.77% | 13.87% | 8.86% | -1.98% | 25.93% | 2.24% | 21.12% | -14.36% | 4.17% |
HMWD.L HSBC MSCI World UCITS ETF | 9.78% | 12.44% | 21.20% | 18.38% | -8.52% | 23.60% | 13.01% | 22.60% | -3.49% | 12.46% |
Correlation
The correlation between HCAN.L and HMWD.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2011 | 0.74 |
The correlation between HCAN.L and HMWD.L shifts across timeframes, from 0.60 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HCAN.L vs. HMWD.L — Risk / Return Rank
HCAN.L
HMWD.L
HCAN.L vs. HMWD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Canada UCITS ETF (HCAN.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.
| HCAN.L | HMWD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.31 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 4.22 | 3.19 | +1.03 |
| Martin ratioReturn relative to average drawdown | 16.91 | 11.69 | +5.22 |
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Drawdowns
HCAN.L vs. HMWD.L - Drawdown Comparison
The maximum HCAN.L drawdown since its inception was -34.05%, which is greater than HMWD.L's maximum drawdown of -26.10%. Use the drawdown chart below to compare losses from any high point for HCAN.L and HMWD.L.
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Drawdown Indicators
| HCAN.L | HMWD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.05% | -26.10% | -7.95% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -6.47% | -0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -14.21% | -18.91% | +4.70% |
Max Drawdown (5Y)Largest decline over 5 years | -14.21% | -18.91% | +4.70% |
Max Drawdown (10Y)Largest decline over 10 years | -33.72% | -26.10% | -7.62% |
Current DrawdownCurrent decline from peak | -0.73% | -1.35% | +0.62% |
Average DrawdownAverage peak-to-trough decline | -7.37% | -3.65% | -3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 1.77% | +0.01% |
Volatility
HCAN.L vs. HMWD.L - Volatility Comparison
HSBC MSCI Canada UCITS ETF (HCAN.L) and HSBC MSCI World UCITS ETF (HMWD.L) have volatilities of 3.25% and 3.16%, 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
| HCAN.L | HMWD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.25% | 3.16% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 8.04% | 9.64% | -1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.28% | 12.13% | -0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.26% | 14.50% | -0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.98% | 15.41% | +0.57% |
HCAN.L vs. HMWD.L - Expense Ratio Comparison
HCAN.L has a 0.35% expense ratio, which is higher than HMWD.L's 0.15% expense ratio.
Dividends
HCAN.L vs. HMWD.L - Dividend Comparison
HCAN.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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HCAN.L HSBC MSCI Canada UCITS ETF | 1.39% | 1.55% | 1.97% | 2.14% | 1.90% | 1.53% | 1.93% | 1.04% | 0.00% | 0.81% | 1.60% | 2.17% |
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
HCAN.L and HMWD.L have a correlation of 0.60, 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 HCAN.L.
HCAN.L tracks HSBC MSCI Canada UCITS ETF, while HMWD.L tracks MSCI ACWI NR USD. Their fees differ too: 0.35% for HCAN.L and 0.15% for HMWD.L.
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