HMWD.L vs. HKOD.L
HMWD.L (HSBC MSCI World UCITS ETF) and HKOD.L (HSBC MSCI KOREA CAPPED UCITS ETF) are both Global Equities funds from HSBC - HMWD.L tracks the MSCI ACWI NR USD while HKOD.L tracks the HSBC MSCI KOREA CAPPED UCITS ETF. Both are passively managed. Over the past 10 years, HMWD.L returned 13.16%/yr vs 14.34%/yr for HKOD.L. A 0.66 correlation means they provide meaningful diversification when combined. HMWD.L charges 0.15%/yr vs 0.50%/yr for HKOD.L.
Performance
HMWD.L vs. HKOD.L - Performance Comparison
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Returns By Period
In the year-to-date period, HMWD.L achieves a 10.23% return, which is significantly lower than HKOD.L's 70.37% return. Over the past 10 years, HMWD.L has underperformed HKOD.L with an annualized return of 13.16%, while HKOD.L has yielded a comparatively higher 14.34% annualized return.
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
- 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 vs. HKOD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between HMWD.L and HKOD.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 HMWD.L and HKOD.L has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.
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Return for Risk
HMWD.L vs. HKOD.L — Risk / Return Rank
HMWD.L
HKOD.L
HMWD.L vs. HKOD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI World UCITS ETF (HMWD.L) and HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.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.
| HMWD.L | HKOD.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 | 1.32 | 1.45 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 5.77 | -3.13 |
| Martin ratioReturn relative to average drawdown | 10.84 | 17.93 | -7.09 |
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Drawdowns
HMWD.L vs. HKOD.L - Drawdown Comparison
The maximum HMWD.L drawdown since its inception was -34.01%, smaller than the maximum HKOD.L drawdown of -50.54%. Use the drawdown chart below to compare losses from any high point for HMWD.L and HKOD.L.
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Drawdown Indicators
| HMWD.L | HKOD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.01% | -50.54% | +16.53% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -24.00% | +15.70% |
Max Drawdown (3Y)Largest decline over 3 years | -17.58% | -29.48% | +11.90% |
Max Drawdown (5Y)Largest decline over 5 years | -25.99% | -47.65% | +21.66% |
Max Drawdown (10Y)Largest decline over 10 years | -34.01% | -50.54% | +16.53% |
Current DrawdownCurrent decline from peak | -0.10% | -24.00% | +23.90% |
Average DrawdownAverage peak-to-trough decline | -4.75% | -18.79% | +14.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 7.75% | -5.72% |
Volatility
HMWD.L vs. HKOD.L - Volatility Comparison
The current volatility for HSBC MSCI World UCITS ETF (HMWD.L) is 2.93%, while HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L) has a volatility of 20.20%. This indicates that HMWD.L experiences smaller price fluctuations and is considered to be less risky than HKOD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMWD.L | HKOD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 20.20% | -17.27% |
Volatility (6M)Calculated over the trailing 6-month period | 9.85% | 41.23% | -31.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.29% | 45.10% | -32.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.63% | 29.74% | -14.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.73% | 26.96% | -11.23% |
HMWD.L vs. HKOD.L - Expense Ratio Comparison
HMWD.L has a 0.15% expense ratio, which is lower than HKOD.L's 0.50% expense ratio.
Dividends
HMWD.L vs. HKOD.L - Dividend Comparison
HMWD.L's dividend yield for the trailing twelve months is around 1.17%, more than HKOD.L's 0.43% 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
HMWD.L and HKOD.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.
HMWD.L tracks MSCI ACWI NR USD, while HKOD.L tracks HSBC MSCI KOREA CAPPED UCITS ETF. Their fees differ too: 0.15% for HMWD.L and 0.50% for HKOD.L.
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