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

HMWD.L vs. IWFV.L

Last updated Jun 5, 2026

HMWD.L (HSBC MSCI World UCITS ETF) and IWFV.L (iShares Edge MSCI World Value Factor UCITS ETF) are both Global Equities funds - HMWD.L tracks the MSCI ACWI NR USD while IWFV.L tracks the MSCI ACWI Value NR USD. Both are passively managed. Over the past 10 years, HMWD.L returned 13.25%/yr vs 12.86%/yr for IWFV.L. Their correlation of 0.82 suggests significant overlap in exposure. HMWD.L charges 0.15%/yr vs 0.30%/yr for IWFV.L.

Performance

HMWD.L vs. IWFV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC MSCI World UCITS ETF (HMWD.L) and iShares Edge MSCI World Value Factor UCITS ETF (IWFV.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 IWFV.L is traded in GBp. To make them comparable, the IWFV.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 lower than IWFV.L's 34.19% return. Both investments have delivered pretty close results over the past 10 years, with HMWD.L having a 13.25% annualized return and IWFV.L not far behind at 12.86%.

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%

IWFV.L

1D
-0.66%
1M
12.27%
YTD
34.19%
6M
38.30%
1Y
66.20%
3Y*
30.24%
5Y*
16.25%
10Y*
12.86%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HMWD.L vs. IWFV.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%
IWFV.L
iShares Edge MSCI World Value Factor UCITS ETF		34.19%40.55%5.07%18.98%-9.85%20.49%-4.06%19.29%-14.47%22.70%

Correlation

The correlation between HMWD.L and IWFV.L is 0.78, 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

0.78

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

0.76

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

0.80

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

0.80

Correlation (All Time)
Calculated using the full available price history since Oct 7, 2014

0.82

The correlation between HMWD.L and IWFV.L has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.

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

Sectors
HMWD.L
IWFV.L

Technology

28.3%
33.9%

Financial Services

15.7%
14.8%

Industrials

11.5%
11.3%

Communication Services

9.2%
7.6%

Consumer Cyclical

9.2%
7.9%

Healthcare

8.8%
8.8%

Consumer Defensive

5.3%
4.5%

Energy

4.2%
3.8%

Basic Materials

3.3%
3.0%

Utilities

2.7%
2.5%

Real Estate

1.9%
1.8%

Technology

HMWD.L
28.3%
IWFV.L
33.9%

Financial Services

HMWD.L
15.7%
IWFV.L
14.8%

Industrials

HMWD.L
11.5%
IWFV.L
11.3%

Communication Services

HMWD.L
9.2%
IWFV.L
7.6%

Consumer Cyclical

HMWD.L
9.2%
IWFV.L
7.9%

Healthcare

HMWD.L
8.8%
IWFV.L
8.8%

Consumer Defensive

HMWD.L
5.3%
IWFV.L
4.5%

Energy

HMWD.L
4.2%
IWFV.L
3.8%

Basic Materials

HMWD.L
3.3%
IWFV.L
3.0%

Utilities

HMWD.L
2.7%
IWFV.L
2.5%

Real Estate

HMWD.L
1.9%
IWFV.L
1.8%

Compare stocks, funds, or ETFs

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HSBC MSCI World UCITS ETF

iShares Edge MSCI World Value Factor UCITS ETF

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HMWD.L vs. VWRL.ASHMWD.L vs. IWDA.LHMWD.L vs. VDIV.DEHMWD.L vs. TRET.ASHMWD.L vs. VWCE.DEHMWD.L vs. VWRL.LHMWD.L vs. EIMI.L
Often compared with IWFV.L:
IWFV.L vs. OEFIWFV.L vs. VOOIWFV.L vs. IOOIWFV.L vs. IWQU.LIWFV.L vs. VWRA.LIWFV.L vs. SMGB.LIWFV.L vs. IWDA.L

Return for Risk

HMWD.L vs. IWFV.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
IWFV.L
IWFV.L Risk / Return Rank: 9797
Overall Rank
IWFV.L Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
IWFV.L Sortino Ratio Rank: 9898
Sortino Ratio Rank
IWFV.L Omega Ratio Rank: 9797
Omega Ratio Rank
IWFV.L Calmar Ratio Rank: 9696
Calmar Ratio Rank
IWFV.L Martin Ratio Rank: 9696
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. IWFV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI World UCITS ETF (HMWD.L) and iShares Edge MSCI World Value Factor UCITS ETF (IWFV.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.LIWFV.LDifference
Sharpe ratioReturn per unit of total volatility
2.19
4.39

-2.20

Sortino ratioReturn per unit of downside risk
3.29
6.02

-2.73

Omega ratioGain probability vs. loss probability

1.40

1.78

-0.38

Calmar ratioReturn relative to maximum drawdown

3.14

7.60

-4.46

Martin ratioReturn relative to average drawdown

13.35

29.04

-15.69

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. IWFV.L - Sharpe Ratio Comparison

The current HMWD.L Sharpe Ratio is 2.19, which is lower than the IWFV.L Sharpe Ratio of 4.39. The chart below compares the historical Sharpe Ratios of HMWD.L and IWFV.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.LIWFV.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.19

4.39

-2.20

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.77

1.03

-0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.83

0.76

+0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.74

0.62

+0.12

Drawdowns

HMWD.L vs. IWFV.L - Drawdown Comparison

The maximum HMWD.L drawdown since its inception was -34.03%, smaller than the maximum IWFV.L drawdown of -39.15%. Use the drawdown chart below to compare losses from any high point for HMWD.L and IWFV.L.

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Drawdown Indicators

HMWD.LIWFV.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.03%

-39.15%

+5.12%

Max Drawdown (1Y)

Largest decline over 1 year

-8.29%

-8.67%

+0.38%

Max Drawdown (3Y)

Largest decline over 3 years

-17.57%

-14.41%

-3.16%

Max Drawdown (5Y)

Largest decline over 5 years

-26.00%

-26.74%

+0.74%

Max Drawdown (10Y)

Largest decline over 10 years

-34.03%

-39.15%

+5.12%

Current Drawdown

Current decline from peak

-0.40%

-0.84%

+0.44%

Average Drawdown

Average peak-to-trough decline

-4.57%

-7.49%

+2.92%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.95%

2.27%

-0.32%

Volatility

HMWD.L vs. IWFV.L - Volatility Comparison

The current volatility for HSBC MSCI World UCITS ETF (HMWD.L) is 3.41%, while iShares Edge MSCI World Value Factor UCITS ETF (IWFV.L) has a volatility of 6.04%. This indicates that HMWD.L experiences smaller price fluctuations and is considered to be less risky than IWFV.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.LIWFV.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.41%

6.04%

-2.63%

Volatility (6M)

Calculated over the trailing 6-month period

9.13%

12.26%

-3.13%

Volatility (1Y)

Calculated over the trailing 1-year period

11.87%

14.99%

-3.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.57%

15.69%

-0.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.85%

16.85%

-1.00%

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

HMWD.L has a 0.15% expense ratio, which is lower than IWFV.L's 0.30% expense ratio.

Dividends

HMWD.L vs. IWFV.L - Dividend Comparison

HMWD.L's dividend yield for the trailing twelve months is around 1.17%, while IWFV.L has not paid dividends to shareholders.

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%
IWFV.L
iShares Edge MSCI World Value Factor UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HMWD.L and IWFV.L have a correlation of 0.78, 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 0.30% for IWFV.L.

HMWD.L tracks MSCI ACWI NR USD, while IWFV.L tracks MSCI ACWI Value NR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.15% for HMWD.L and 0.30% for IWFV.L.

Portfolio Optimizer

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