HMWO.L vs. HKOD.L
HMWO.L (HSBC MSCI World UCITS ETF) and HKOD.L (HSBC MSCI KOREA CAPPED UCITS ETF) are both Global Equities funds from HSBC - HMWO.L tracks the MSCI World Index while HKOD.L tracks the HSBC MSCI KOREA CAPPED UCITS ETF. Both are passively managed. Over the past 10 years, HMWO.L returned 12.94%/yr vs 14.29%/yr for HKOD.L. A 0.60 correlation means they provide meaningful diversification when combined. HMWO.L charges 0.15%/yr vs 0.50%/yr for HKOD.L.
Performance
HMWO.L vs. HKOD.L - Performance Comparison
Loading charts...
Different Trading Currencies
HMWO.L is traded in GBp, while HKOD.L is traded in USD. To make them comparable, the HKOD.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, HMWO.L achieves a 10.00% return, which is significantly lower than HKOD.L's 72.55% return. Over the past 10 years, HMWO.L has underperformed HKOD.L with an annualized return of 12.94%, while HKOD.L has yielded a comparatively higher 14.29% annualized 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%
HKOD.L
- 1D
- 0.00%
- 1M
- -19.96%
- 6M
- 54.32%
- YTD
- 72.55%
- 1Y
- 140.31%
- 3Y*
- 37.06%
- 5Y*
- 15.49%
- 10Y*
- 14.29%
HMWO.L vs. HKOD.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% |
HKOD.L HSBC MSCI KOREA CAPPED UCITS ETF | 72.55% | 85.32% | -21.55% | 13.96% | -19.93% | -7.62% | 40.82% | 6.43% | -16.38% | 33.19% |
Correlation
The correlation between HMWO.L and HKOD.L is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2011 | 0.60 |
The correlation between HMWO.L and HKOD.L has been stable across timeframes, ranging from 0.51 to 0.60 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HMWO.L vs. HKOD.L — Risk / Return Rank
HMWO.L
HKOD.L
HMWO.L vs. HKOD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI World UCITS ETF (HMWO.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.
| HMWO.L | HKOD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.47 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.25 | 5.73 | -2.49 |
| Martin ratioReturn relative to average drawdown | 12.65 | 18.17 | -5.52 |
Loading charts...
Drawdowns
HMWO.L vs. HKOD.L - Drawdown Comparison
The maximum HMWO.L drawdown since its inception was -44.90%, roughly equal to the maximum HKOD.L drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for HMWO.L and HKOD.L.
Loading charts...
Drawdown Indicators
| HMWO.L | HKOD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.90% | -44.38% | -0.52% |
Max Drawdown (1Y)Largest decline over 1 year | -6.51% | -24.53% | +18.02% |
Max Drawdown (3Y)Largest decline over 3 years | -18.80% | -29.12% | +10.32% |
Max Drawdown (5Y)Largest decline over 5 years | -18.80% | -39.67% | +20.87% |
Max Drawdown (10Y)Largest decline over 10 years | -25.48% | -44.38% | +18.90% |
Current DrawdownCurrent decline from peak | -0.99% | -24.53% | +23.54% |
Average DrawdownAverage peak-to-trough decline | -9.77% | -15.51% | +5.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 7.76% | -6.09% |
Volatility
HMWO.L vs. HKOD.L - Volatility Comparison
The current volatility for HSBC MSCI World UCITS ETF (HMWO.L) is 2.57%, while HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L) has a volatility of 20.24%. This indicates that HMWO.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.
Loading charts...
Volatility by Period
| HMWO.L | HKOD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 20.24% | -17.67% |
Volatility (6M)Calculated over the trailing 6-month period | 7.85% | 40.06% | -32.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.63% | 43.91% | -33.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.31% | 28.07% | -14.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.38% | 25.99% | -11.61% |
HMWO.L vs. HKOD.L - Expense Ratio Comparison
HMWO.L has a 0.15% expense ratio, which is lower than HKOD.L's 0.50% expense ratio.
Dividends
HMWO.L vs. HKOD.L - Dividend Comparison
HMWO.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% |
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
HMWO.L and HKOD.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
HMWO.L is cheaper with a 0.15% expense ratio, compared with 0.50% for HKOD.L.
HMWO.L tracks MSCI World Index, while HKOD.L tracks HSBC MSCI KOREA CAPPED UCITS ETF. Their fees differ too: 0.15% for HMWO.L and 0.50% for HKOD.L.
Find the right allocation for HMWO.L and HKOD.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer