HMWD.L vs. XDEV.L

Last updated Jun 5, 2026

HMWD.L (HSBC MSCI World UCITS ETF) and XDEV.L (Xtrackers MSCI World Value Factor UCITS ETF 1C) are both Global Equities funds - HMWD.L tracks the MSCI ACWI NR USD while XDEV.L tracks the MSCI ACWI Value NR USD. Both are passively managed. Over the past 10 years, HMWD.L returned 13.25%/yr vs 12.62%/yr for XDEV.L. Their correlation of 0.83 suggests significant overlap in exposure. HMWD.L charges 0.15%/yr vs 0.25%/yr for XDEV.L.

Performance

HMWD.L vs. XDEV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC MSCI World UCITS ETF (HMWD.L) and Xtrackers MSCI World Value Factor UCITS ETF 1C (XDEV.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HMWD.L is traded in USD, while XDEV.L is traded in GBp. To make them comparable, the XDEV.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 XDEV.L's 34.16% return. Both investments have delivered pretty close results over the past 10 years, with HMWD.L having a 13.25% annualized return and XDEV.L not far behind at 12.62%.

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%

XDEV.L

• 1D: -0.86%
• 1M: 12.15%
• YTD: 34.16%
• 6M: 38.41%
• 1Y: 66.17%
• 3Y*: 30.19%
• 5Y*: 16.29%
• 10Y*: 12.62%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
XDEV.L Xtrackers MSCI World Value Factor UCITS ETF 1C	34.16%	40.36%	5.01%	19.23%	-9.79%	20.57%	-4.03%	19.16%	-14.37%	22.56%

Correlation

The correlation between HMWD.L and XDEV.L is 0.77, 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	0.77
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	0.81
Correlation (All Time) Calculated using the full available price history since Oct 20, 2014	0.83

The correlation between HMWD.L and XDEV.L has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.

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

Sectors	HMWD.L	XDEV.L
Technology	28.3%	33.9%
Financial Services	15.7%	14.8%
Industrials	11.5%	11.4%
Communication Services	9.2%	7.5%
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%	2.6%
Real Estate	1.9%	1.8%

Return for Risk

HMWD.L vs. XDEV.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: 69
HMWD.L Sharpe Ratio Rank: 68
HMWD.L Sortino Ratio Rank: 74
HMWD.L Omega Ratio Rank: 68
HMWD.L Calmar Ratio Rank: 64
HMWD.L Martin Ratio Rank: 72

XDEV.L

XDEV.L Risk / Return Rank: 97
XDEV.L Sharpe Ratio Rank: 98
XDEV.L Sortino Ratio Rank: 98
XDEV.L Omega Ratio Rank: 97
XDEV.L Calmar Ratio Rank: 96
XDEV.L Martin Ratio Rank: 96

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. XDEV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI World UCITS ETF (HMWD.L) and Xtrackers MSCI World Value Factor UCITS ETF 1C (XDEV.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.L	XDEV.L	Difference
Sharpe ratio: Return per unit of total volatility	2.19	4.46	-2.26
Sortino ratio: Return per unit of downside risk	3.29	6.08	-2.80
Omega ratio: Gain probability vs. loss probability	1.40	1.81	-0.41
Calmar ratio: Return relative to maximum drawdown	3.14	7.54	-4.40
Martin ratio: Return relative to average drawdown	13.35	29.47	-16.11
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. XDEV.L - Sharpe Ratio Comparison

The current HMWD.L Sharpe Ratio is 2.19, which is lower than the XDEV.L Sharpe Ratio of 4.46. The chart below compares the historical Sharpe Ratios of HMWD.L and XDEV.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.

Sharpe Ratios by Period

	HMWD.L	XDEV.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	4.46	-2.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	1.04	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.75	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.68	+0.06

Drawdowns

HMWD.L vs. XDEV.L - Drawdown Comparison

The maximum HMWD.L drawdown since its inception was -34.03%, smaller than the maximum XDEV.L drawdown of -38.95%. Use the drawdown chart below to compare losses from any high point for HMWD.L and XDEV.L.

Drawdown Indicators

	HMWD.L	XDEV.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.03%	-38.95%	+4.92%
Max Drawdown (1Y) Largest decline over 1 year	-8.29%	-8.73%	+0.44%
Max Drawdown (3Y) Largest decline over 3 years	-17.57%	-14.69%	-2.88%
Max Drawdown (5Y) Largest decline over 5 years	-26.00%	-26.72%	+0.72%
Max Drawdown (10Y) Largest decline over 10 years	-34.03%	-38.95%	+4.92%
Current Drawdown Current decline from peak	-0.40%	-0.86%	+0.46%
Average Drawdown Average peak-to-trough decline	-4.57%	-7.12%	+2.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.24%	-0.29%

Volatility

HMWD.L vs. XDEV.L - Volatility Comparison

The current volatility for HSBC MSCI World UCITS ETF (HMWD.L) is 3.41%, while Xtrackers MSCI World Value Factor UCITS ETF 1C (XDEV.L) has a volatility of 5.95%. This indicates that HMWD.L experiences smaller price fluctuations and is considered to be less risky than XDEV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HMWD.L	XDEV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	5.95%	-2.54%
Volatility (6M) Calculated over the trailing 6-month period	9.13%	11.90%	-2.77%
Volatility (1Y) Calculated over the trailing 1-year period	11.87%	14.78%	-2.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.57%	15.73%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.85%	16.72%	-0.87%

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

HMWD.L has a 0.15% expense ratio, which is lower than XDEV.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HMWD.L vs. XDEV.L - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XDEV.L Xtrackers MSCI World Value Factor UCITS ETF 1C	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

Can I hold both HMWD.L and XDEV.L in my portfolio?

HMWD.L and XDEV.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HMWD.L or XDEV.L?

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.

Which ETF is cheaper, HMWD.L or XDEV.L?

HMWD.L is cheaper with a 0.15% expense ratio, compared with 0.25% for XDEV.L.

What is the main difference between HMWD.L and XDEV.L?

HMWD.L tracks MSCI ACWI NR USD, while XDEV.L tracks MSCI ACWI Value NR USD. They also come from different issuers: HSBC and DWS. Their fees differ too: 0.15% for HMWD.L and 0.25% for XDEV.L.