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HMWD.L vs. HMWO.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HMWD.L vs. HMWO.L

Last updated Jun 5, 2026

HMWD.L (HSBC MSCI World UCITS ETF) and HMWO.L (HSBC MSCI World UCITS ETF) are both Global Equities funds from HSBC tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, HMWD.L returned 13.25%/yr vs 11.33%/yr for HMWO.L. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.

Performance

HMWD.L vs. HMWO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC MSCI World UCITS ETF (HMWD.L) and HSBC MSCI World UCITS ETF (HMWO.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HMWD.L is traded in USD, while HMWO.L is traded in GBp. To make them comparable, the HMWO.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HMWD.L achieves a 9.88% return, which is significantly higher than HMWO.L's 9.26% return. Over the past 10 years, HMWD.L has outperformed HMWO.L with an annualized return of 13.25%, while HMWO.L has yielded a comparatively lower 11.33% annualized return.

HMWD.L

1D
0.09%
1M
4.12%
YTD
9.88%
6M
11.06%
1Y
26.15%
3Y*
20.87%
5Y*
11.93%
10Y*
13.25%

HMWO.L

1D
0.21%
1M
4.23%
YTD
9.26%
6M
10.60%
1Y
24.55%
3Y*
19.03%
5Y*
10.25%
10Y*
11.33%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HMWD.L vs. HMWO.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HMWD.L
HSBC MSCI World UCITS ETF		9.88%21.06%19.13%24.63%-18.24%22.41%16.43%27.43%-8.89%23.12%
HMWO.L
HSBC MSCI World UCITS ETF		9.26%19.48%17.32%21.89%-19.62%21.15%13.95%25.73%-10.82%20.30%

Correlation

The correlation between HMWD.L and HMWO.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.92

Correlation (3Y)
Calculated over the trailing 3-year period

0.92

Correlation (5Y)
Calculated over the trailing 5-year period

0.93

Correlation (10Y)
Calculated over the trailing 10-year period

0.91

Correlation (All Time)
Calculated using the full available price history since Dec 13, 2010

0.85

The correlation between HMWD.L and HMWO.L has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.

HMWD.L vs. HMWO.L - Sectors Allocation Comparison

Sectors
HMWD.L
HMWO.L

Technology

28.3%
30.2%

Financial Services

15.7%
15.4%

Industrials

11.5%
11.0%

Communication Services

9.2%
9.1%

Consumer Cyclical

9.2%
9.0%

Healthcare

8.8%
8.6%

Consumer Defensive

5.3%
5.2%

Energy

4.2%
4.1%

Basic Materials

3.3%
3.2%

Utilities

2.7%
2.5%

Real Estate

1.9%
1.8%

Technology

HMWD.L
28.3%
HMWO.L
30.2%

Financial Services

HMWD.L
15.7%
HMWO.L
15.4%

Industrials

HMWD.L
11.5%
HMWO.L
11.0%

Communication Services

HMWD.L
9.2%
HMWO.L
9.1%

Consumer Cyclical

HMWD.L
9.2%
HMWO.L
9.0%

Healthcare

HMWD.L
8.8%
HMWO.L
8.6%

Consumer Defensive

HMWD.L
5.3%
HMWO.L
5.2%

Energy

HMWD.L
4.2%
HMWO.L
4.1%

Basic Materials

HMWD.L
3.3%
HMWO.L
3.2%

Utilities

HMWD.L
2.7%
HMWO.L
2.5%

Real Estate

HMWD.L
1.9%
HMWO.L
1.8%

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HSBC MSCI World UCITS ETF

HSBC MSCI World UCITS ETF

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Often compared with HMWO.L:
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Return for Risk

HMWD.L vs. HMWO.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HMWD.L
HMWD.L Risk / Return Rank: 6969
Overall Rank
HMWD.L Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
HMWD.L Sortino Ratio Rank: 7474
Sortino Ratio Rank
HMWD.L Omega Ratio Rank: 6868
Omega Ratio Rank
HMWD.L Calmar Ratio Rank: 6464
Calmar Ratio Rank
HMWD.L Martin Ratio Rank: 7272
Martin Ratio Rank
HMWO.L
HMWO.L Risk / Return Rank: 7878
Overall Rank
HMWO.L Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
HMWO.L Sortino Ratio Rank: 7878
Sortino Ratio Rank
HMWO.L Omega Ratio Rank: 8080
Omega Ratio Rank
HMWO.L Calmar Ratio Rank: 7777
Calmar Ratio Rank
HMWO.L Martin Ratio Rank: 7878
Martin Ratio Rank
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.

HMWD.L vs. HMWO.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 World UCITS ETF (HMWO.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.

HMWD.LHMWO.LDifference
Sharpe ratioReturn per unit of total volatility
2.19
2.14

+0.06

Sortino ratioReturn per unit of downside risk
3.29
3.16

+0.13

Omega ratioGain probability vs. loss probability

1.40

1.38

+0.02

Calmar ratioReturn relative to maximum drawdown

3.14

2.78

+0.36

Martin ratioReturn relative to average drawdown

13.35

11.92

+1.43

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HMWD.L vs. HMWO.L - Sharpe Ratio Comparison

The current HMWD.L Sharpe Ratio is 2.19, which is comparable to the HMWO.L Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of HMWD.L and HMWO.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.

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Sharpe Ratios by Period

HMWD.LHMWO.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.19

2.14

+0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.77

0.67

+0.10

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.83

0.72

+0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.74

0.59

+0.15

Drawdowns

HMWD.L vs. HMWO.L - Drawdown Comparison

The maximum HMWD.L drawdown since its inception was -34.03%, roughly equal to the maximum HMWO.L drawdown of -33.55%. Use the drawdown chart below to compare losses from any high point for HMWD.L and HMWO.L.

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Drawdown Indicators

HMWD.LHMWO.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.03%

-33.55%

-0.48%

Max Drawdown (1Y)

Largest decline over 1 year

-8.29%

-8.81%

+0.52%

Max Drawdown (3Y)

Largest decline over 3 years

-17.57%

-17.71%

+0.14%

Max Drawdown (5Y)

Largest decline over 5 years

-26.00%

-27.60%

+1.60%

Max Drawdown (10Y)

Largest decline over 10 years

-34.03%

-33.55%

-0.48%

Current Drawdown

Current decline from peak

-0.40%

-0.44%

+0.04%

Average Drawdown

Average peak-to-trough decline

-4.57%

-5.35%

+0.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.95%

2.06%

-0.11%

Volatility

HMWD.L vs. HMWO.L - Volatility Comparison

HSBC MSCI World UCITS ETF (HMWD.L) has a higher volatility of 3.41% compared to HSBC MSCI World UCITS ETF (HMWO.L) at 2.81%. This indicates that HMWD.L's price experiences larger fluctuations and is considered to be riskier than HMWO.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.LHMWO.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.41%

2.81%

+0.60%

Volatility (6M)

Calculated over the trailing 6-month period

9.13%

8.57%

+0.56%

Volatility (1Y)

Calculated over the trailing 1-year period

11.87%

11.45%

+0.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.57%

15.32%

+0.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.85%

15.71%

+0.14%

HMWD.L vs. HMWO.L - Expense Ratio Comparison

Both HMWD.L and HMWO.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

HMWD.L vs. HMWO.L - Dividend Comparison

HMWD.L's dividend yield for the trailing twelve months is around 1.17%, more than HMWO.L's 0.01% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
HMWO.L
HSBC MSCI World UCITS ETF		0.01%0.01%0.01%0.02%0.02%0.01%0.02%0.02%0.02%0.02%0.02%0.02%

Frequently Asked Questions

With a correlation of 0.92, HMWD.L and HMWO.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

HMWD.L and HMWO.L have the same expense ratio: 0.15% per year.

Both ETFs track MSCI ACWI NR USD.

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