HKOD.L vs. HMWD.L
HKOD.L (HSBC MSCI KOREA CAPPED UCITS ETF) and HMWD.L (HSBC MSCI World UCITS ETF) are both Global Equities funds from HSBC - HKOD.L tracks the HSBC MSCI KOREA CAPPED UCITS ETF while HMWD.L tracks the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, HKOD.L returned 14.34%/yr vs 13.16%/yr for HMWD.L. A 0.66 correlation means they provide meaningful diversification when combined. HKOD.L charges 0.50%/yr vs 0.15%/yr for HMWD.L.
Performance
HKOD.L vs. HMWD.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HKOD.L achieves a 70.37% return, which is significantly higher than HMWD.L's 10.23% return. Over the past 10 years, HKOD.L has outperformed HMWD.L with an annualized return of 14.34%, while HMWD.L has yielded a comparatively lower 13.16% annualized return.
HKOD.L
- 1D
- -1.67%
- 1M
- -20.60%
- 6M
- 52.67%
- YTD
- 70.37%
- 1Y
- 138.83%
- 3Y*
- 37.85%
- 5Y*
- 14.71%
- 10Y*
- 14.34%
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%
HKOD.L vs. HMWD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HKOD.L HSBC MSCI KOREA CAPPED UCITS ETF | 70.37% | 99.54% | -22.90% | 19.95% | -28.44% | -8.49% | 45.08% | 10.64% | -21.06% | 45.79% |
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 HKOD.L and HMWD.L is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2011 | 0.66 |
The correlation between HKOD.L and HMWD.L has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HKOD.L vs. HMWD.L — Risk / Return Rank
HKOD.L
HMWD.L
HKOD.L vs. HMWD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.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.
| HKOD.L | HMWD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.32 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 5.77 | 2.65 | +3.13 |
| Martin ratioReturn relative to average drawdown | 17.93 | 10.84 | +7.09 |
Loading charts...
Drawdowns
HKOD.L vs. HMWD.L - Drawdown Comparison
The maximum HKOD.L drawdown since its inception was -50.54%, 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 HKOD.L and HMWD.L.
Loading charts...
Drawdown Indicators
| HKOD.L | HMWD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.54% | -34.01% | -16.53% |
Max Drawdown (1Y)Largest decline over 1 year | -24.00% | -8.30% | -15.70% |
Max Drawdown (3Y)Largest decline over 3 years | -29.48% | -17.58% | -11.90% |
Max Drawdown (5Y)Largest decline over 5 years | -47.65% | -25.99% | -21.66% |
Max Drawdown (10Y)Largest decline over 10 years | -50.54% | -34.01% | -16.53% |
Current DrawdownCurrent decline from peak | -24.00% | -0.10% | -23.90% |
Average DrawdownAverage peak-to-trough decline | -18.79% | -4.75% | -14.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.75% | 2.03% | +5.72% |
Volatility
HKOD.L vs. HMWD.L - Volatility Comparison
HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L) has a higher volatility of 20.20% compared to HSBC MSCI World UCITS ETF (HMWD.L) at 2.93%. This indicates that HKOD.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.
Loading charts...
Volatility by Period
| HKOD.L | HMWD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.20% | 2.93% | +17.27% |
Volatility (6M)Calculated over the trailing 6-month period | 41.23% | 9.85% | +31.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.10% | 12.29% | +32.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.74% | 15.63% | +14.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.96% | 15.73% | +11.23% |
HKOD.L vs. HMWD.L - Expense Ratio Comparison
HKOD.L has a 0.50% expense ratio, which is higher than HMWD.L's 0.15% expense ratio.
Dividends
HKOD.L vs. HMWD.L - Dividend Comparison
HKOD.L's dividend yield for the trailing twelve months is around 0.43%, less than HMWD.L's 1.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HKOD.L HSBC MSCI KOREA CAPPED UCITS ETF | 0.43% | 0.68% | 1.54% | 1.08% | 0.72% | 0.61% | 0.02% | 0.29% | 0.56% | 0.10% | 0.00% | 0.00% |
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
HKOD.L and HMWD.L have a correlation of 0.58, 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 0.50% for HKOD.L.
HKOD.L tracks HSBC MSCI KOREA CAPPED UCITS ETF, while HMWD.L tracks MSCI ACWI NR USD. Their fees differ too: 0.50% for HKOD.L and 0.15% for HMWD.L.
Find the right allocation for HKOD.L and HMWD.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer