HMWO.L vs. DRDR.L

Last updated Jul 16, 2026

HMWO.L (HSBC MSCI World UCITS ETF) and DRDR.L (iShares Healthcare Innovation UCITS ETF USD (Acc)) are both exchange-traded funds - HMWO.L is a Global Equities fund tracking the MSCI World Index, while DRDR.L is a Health & Biotech Equities fund tracking the MSCI World/Health Care NR USD. Both are passively managed. Over the past 5 years, HMWO.L returned 12.20%/yr vs -0.78%/yr for DRDR.L. A 0.71 correlation means they provide meaningful diversification when combined. HMWO.L charges 0.15%/yr vs 0.40%/yr for DRDR.L.

Performance

HMWO.L vs. DRDR.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI World UCITS ETF (HMWO.L) and iShares Healthcare Innovation UCITS ETF USD (Acc) (DRDR.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HMWO.L achieves a 10.00% return, which is significantly higher than DRDR.L's 6.68% return.

HMWO.L

• 1D: -0.54%
• 1M: -0.20%
• 6M: 8.77%
• YTD: 10.00%
• 1Y: 21.22%
• 3Y*: 17.85%
• 5Y*: 12.20%
• 10Y*: 12.94%

DRDR.L

• 1D: -0.17%
• 1M: 6.96%
• 6M: 2.11%
• YTD: 6.68%
• 1Y: 25.03%
• 3Y*: 7.44%
• 5Y*: -0.78%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HMWO.L HSBC MSCI World UCITS ETF	10.00%	12.63%	21.17%	17.80%	-8.47%	23.98%	12.48%	23.41%	-3.60%	12.05%
DRDR.L iShares Healthcare Innovation UCITS ETF USD (Acc)	6.68%	10.25%	2.62%	-2.51%	-14.93%	-5.21%	48.69%	8.88%	2.12%	23.69%

Correlation

The correlation between HMWO.L and DRDR.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Sep 8, 2016	0.71

Over the past year, the correlation between HMWO.L and DRDR.L has dropped to 0.46 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

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

Sectors	HMWO.L	DRDR.L
Technology	30.4%	1.1%
Financial Services	15.7%	0.2%
Industrials	11.3%	0.4%
Healthcare	9.3%	97.9%
Consumer Cyclical	8.9%	-
Communication Services	8.3%	-
Consumer Defensive	5.1%	0.1%
Energy	3.6%	-
Basic Materials	3.1%	0.1%
Utilities	2.6%	-
Real Estate	1.8%	0.2%

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HMWO.L

HMWO.L Risk / Return Rank: 79
HMWO.L Sharpe Ratio Rank: 79
HMWO.L Sortino Ratio Rank: 78
HMWO.L Omega Ratio Rank: 79
HMWO.L Calmar Ratio Rank: 78
HMWO.L Martin Ratio Rank: 82

DRDR.L

DRDR.L Risk / Return Rank: 51
DRDR.L Sharpe Ratio Rank: 57
DRDR.L Sortino Ratio Rank: 60
DRDR.L Omega Ratio Rank: 52
DRDR.L Calmar Ratio Rank: 48
DRDR.L Martin Ratio Rank: 38

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.

HMWO.L vs. DRDR.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI World UCITS ETF (HMWO.L) and iShares Healthcare Innovation UCITS ETF USD (Acc) (DRDR.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.

	HMWO.L	DRDR.L	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.57	+0.42
Sortino ratio: Return per unit of downside risk	2.78	2.31	+0.47
Omega ratio: Gain probability vs. loss probability	1.37	1.27	+0.10
Calmar ratio: Return relative to maximum drawdown	3.25	1.99	+1.25
Martin ratio: Return relative to average drawdown	12.65	4.87	+7.78

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

The current HMWO.L Sharpe Ratio is 1.99, which is comparable to the DRDR.L Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of HMWO.L and DRDR.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.

Drawdowns

HMWO.L vs. DRDR.L - Drawdown Comparison

The maximum HMWO.L drawdown since its inception was -44.90%, which is greater than DRDR.L's maximum drawdown of -38.49%. Use the drawdown chart below to compare losses from any high point for HMWO.L and DRDR.L.

Drawdown Indicators

	HMWO.L	DRDR.L	Difference
Max Drawdown Largest peak-to-trough decline	-44.90%	-38.49%	-6.41%
Max Drawdown (1Y) Largest decline over 1 year	-6.51%	-12.51%	+6.00%
Max Drawdown (3Y) Largest decline over 3 years	-18.80%	-22.88%	+4.08%
Max Drawdown (5Y) Largest decline over 5 years	-18.80%	-35.81%	+17.01%
Max Drawdown (10Y) Largest decline over 10 years	-25.48%	—	—
Current Drawdown Current decline from peak	-0.99%	-12.21%	+11.22%
Average Drawdown Average peak-to-trough decline	-9.77%	-17.39%	+7.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	5.13%	-3.46%

Volatility

HMWO.L vs. DRDR.L - Volatility Comparison

The current volatility for HSBC MSCI World UCITS ETF (HMWO.L) is 2.57%, while iShares Healthcare Innovation UCITS ETF USD (Acc) (DRDR.L) has a volatility of 5.03%. This indicates that HMWO.L experiences smaller price fluctuations and is considered to be less risky than DRDR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HMWO.L	DRDR.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	5.03%	-2.46%
Volatility (6M) Calculated over the trailing 6-month period	7.85%	11.99%	-4.14%
Volatility (1Y) Calculated over the trailing 1-year period	10.63%	15.94%	-5.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.31%	22.14%	-8.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.38%	22.54%	-8.16%

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

HMWO.L has a 0.15% expense ratio, which is lower than DRDR.L's 0.40% expense ratio.

Dividends

HMWO.L vs. DRDR.L - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DRDR.L iShares Healthcare Innovation UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HMWO.L HSBC MSCI World UCITS ETF	1.17%	1.26%	1.41%	1.60%	1.75%	1.27%	1.55%	1.97%	2.11%	1.91%	1.84%	1.86%

Frequently Asked Questions

Can I hold both HMWO.L and DRDR.L in my portfolio?

HMWO.L and DRDR.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HMWO.L or DRDR.L?

On fees, HMWO.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, HMWO.L or DRDR.L?

HMWO.L is cheaper with a 0.15% expense ratio, compared with 0.40% for DRDR.L.

What is the main difference between HMWO.L and DRDR.L?

HMWO.L is categorized as Global Equities, while DRDR.L is Health & Biotech Equities. HMWO.L tracks MSCI World Index, while DRDR.L tracks MSCI World/Health Care NR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.15% for HMWO.L and 0.40% for DRDR.L.