HERG.L vs. MKUW.L

Last updated Jul 16, 2026

HERG.L (Global X Video Games & Esports UCITS ETF Dist GBP) and MKUW.L (Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc) are both Technology Equities funds - HERG.L tracks the MSCI World/Information Tech NR USD while MKUW.L tracks the Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc. Both are passively managed. Over the past 5 years, HERG.L returned -4.44%/yr vs 7.49%/yr for MKUW.L. At a 0.12 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.

Performance

HERG.L vs. MKUW.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Global X Video Games & Esports UCITS ETF Dist GBP (HERG.L) and Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HERG.L is traded in GBP, while MKUW.L is traded in USD. To make them comparable, the MKUW.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, HERG.L achieves a -16.40% return, which is significantly lower than MKUW.L's -0.60% return.

HERG.L

• 1D: -1.59%
• 1M: -0.46%
• 6M: -19.86%
• YTD: -16.40%
• 1Y: -20.70%
• 3Y*: 4.30%
• 5Y*: -4.44%
• 10Y*: —

MKUW.L

• 1D: 0.00%
• 1M: -3.73%
• 6M: -0.15%
• YTD: -0.60%
• 1Y: 1.89%
• 3Y*: 6.64%
• 5Y*: 7.49%
• 10Y*: —

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

HERG.L vs. MKUW.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HERG.L Global X Video Games & Esports UCITS ETF Dist GBP	-16.40%	15.61%	20.51%	0.51%	-27.56%	-8.39%	-0.87%
MKUW.L Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc	-0.60%	16.42%	11.06%	-13.43%	18.60%	29.79%	-2.76%

Correlation

The correlation between HERG.L and MKUW.L is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Dec 18, 2020	0.12

Return for Risk

HERG.L vs. MKUW.L — Risk / Return Rank

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

HERG.L

HERG.L Risk / Return Rank: 2
HERG.L Sharpe Ratio Rank: 1
HERG.L Sortino Ratio Rank: 2
HERG.L Omega Ratio Rank: 2
HERG.L Calmar Ratio Rank: 3
HERG.L Martin Ratio Rank: 3

MKUW.L

MKUW.L Risk / Return Rank: 18
MKUW.L Sharpe Ratio Rank: 19
MKUW.L Sortino Ratio Rank: 17
MKUW.L Omega Ratio Rank: 17
MKUW.L Calmar Ratio Rank: 20
MKUW.L Martin Ratio Rank: 19

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.

HERG.L vs. MKUW.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Video Games & Esports UCITS ETF Dist GBP (HERG.L) and Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.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.

	HERG.L	MKUW.L	Difference
Sharpe ratio: Return per unit of total volatility	-1.15	0.28	-1.43
Sortino ratio: Return per unit of downside risk	-1.54	0.48	-2.03
Omega ratio: Gain probability vs. loss probability	0.82	1.06	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.70	0.37	-1.08
Martin ratio: Return relative to average drawdown	-1.29	0.98	-2.27

HERG.L vs. MKUW.L - Sharpe Ratio Comparison

The current HERG.L Sharpe Ratio is -1.15, which is lower than the MKUW.L Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of HERG.L and MKUW.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.

Drawdowns

HERG.L vs. MKUW.L - Drawdown Comparison

The maximum HERG.L drawdown since its inception was -47.89%, which is greater than MKUW.L's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for HERG.L and MKUW.L.

Drawdown Indicators

	HERG.L	MKUW.L	Difference
Max Drawdown Largest peak-to-trough decline	-47.89%	-33.94%	-13.95%
Max Drawdown (1Y) Largest decline over 1 year	-29.28%	-8.77%	-20.51%
Max Drawdown (3Y) Largest decline over 3 years	-29.28%	-9.57%	-19.71%
Max Drawdown (5Y) Largest decline over 5 years	-40.23%	-25.75%	-14.48%
Current Drawdown Current decline from peak	-33.88%	-4.11%	-29.77%
Average Drawdown Average peak-to-trough decline	-30.21%	-10.63%	-19.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.02%	3.35%	+12.67%

Volatility

HERG.L vs. MKUW.L - Volatility Comparison

Global X Video Games & Esports UCITS ETF Dist GBP (HERG.L) has a higher volatility of 5.41% compared to Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.L) at 2.17%. This indicates that HERG.L's price experiences larger fluctuations and is considered to be riskier than MKUW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HERG.L	MKUW.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.41%	2.17%	+3.24%
Volatility (6M) Calculated over the trailing 6-month period	14.78%	9.17%	+5.61%
Volatility (1Y) Calculated over the trailing 1-year period	18.01%	11.76%	+6.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.19%	14.38%	+5.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.35%	17.70%	+2.65%

HERG.L vs. MKUW.L - Expense Ratio Comparison

Both HERG.L and MKUW.L have an expense ratio of 0.50%.

Dividends

HERG.L vs. MKUW.L - Dividend Comparison

HERG.L's dividend yield for the trailing twelve months is around 1.00%, while MKUW.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
HERG.L Global X Video Games & Esports UCITS ETF Dist GBP	1.00%	0.60%	0.37%	0.26%	0.01%	0.07%
MKUW.L Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HERG.L and MKUW.L in my portfolio?

HERG.L and MKUW.L have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HERG.L or MKUW.L?

Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HERG.L or MKUW.L?

HERG.L and MKUW.L have the same expense ratio: 0.50% per year.

What is the main difference between HERG.L and MKUW.L?

HERG.L tracks MSCI World/Information Tech NR USD, while MKUW.L tracks Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc. They also come from different issuers: Global X and Invesco.