HMWO.L vs. LSEG.L

Last updated Jun 5, 2026

HMWO.L (HSBC MSCI World UCITS ETF) is Global Equities fund tracking the MSCI ACWI NR USD, while LSEG.L (London Stock Exchange Group plc) is a stock. Over the past 10 years, HMWO.L returned 12.15%/yr vs 14.59%/yr for LSEG.L. At a 0.43 correlation, their price movements are largely independent.

Performance

HMWO.L vs. LSEG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI World UCITS ETF (HMWO.L) and London Stock Exchange Group plc (LSEG.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 9.53% return, which is significantly higher than LSEG.L's 3.50% return. Over the past 10 years, HMWO.L has underperformed LSEG.L with an annualized return of 12.15%, while LSEG.L has yielded a comparatively higher 14.59% annualized return.

HMWO.L

• 1D: 0.16%
• 1M: 5.13%
• YTD: 9.53%
• 6M: 9.79%
• 1Y: 25.75%
• 3Y*: 16.04%
• 5Y*: 11.42%
• 10Y*: 12.15%

LSEG.L

• 1D: 5.29%
• 1M: -4.34%
• YTD: 3.50%
• 6M: 6.62%
• 1Y: -17.66%
• 3Y*: 3.30%
• 5Y*: 5.26%
• 10Y*: 14.59%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HMWO.L HSBC MSCI World UCITS ETF	9.53%	11.10%	19.31%	15.79%	-10.00%	22.25%	10.57%	20.88%	-5.47%	9.85%
LSEG.L London Stock Exchange Group plc	3.50%	-19.64%	23.26%	31.78%	4.28%	-22.30%	17.31%	92.96%	8.43%	31.87%

Correlation

The correlation between HMWO.L and LSEG.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Dec 13, 2010	0.43

Over the past year, the correlation between HMWO.L and LSEG.L has dropped to 0.17 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

Return for Risk

HMWO.L vs. LSEG.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: 78
HMWO.L Sharpe Ratio Rank: 78
HMWO.L Sortino Ratio Rank: 78
HMWO.L Omega Ratio Rank: 80
HMWO.L Calmar Ratio Rank: 77
HMWO.L Martin Ratio Rank: 78

LSEG.L

LSEG.L Risk / Return Rank: 21
LSEG.L Sharpe Ratio Rank: 17
LSEG.L Sortino Ratio Rank: 18
LSEG.L Omega Ratio Rank: 17
LSEG.L Calmar Ratio Rank: 25
LSEG.L Martin Ratio Rank: 25

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. LSEG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI World UCITS ETF (HMWO.L) and London Stock Exchange Group plc (LSEG.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.

	HMWO.L	LSEG.L	Difference
Sharpe ratio: Return per unit of total volatility	2.50	-0.56	+3.05
Sortino ratio: Return per unit of downside risk	3.44	-0.61	+4.06
Omega ratio: Gain probability vs. loss probability	1.47	0.92	+0.55
Calmar ratio: Return relative to maximum drawdown	3.82	-0.48	+4.30
Martin ratio: Return relative to average drawdown	15.06	-0.85	+15.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current HMWO.L Sharpe Ratio is 2.50, which is higher than the LSEG.L Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of HMWO.L and LSEG.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

	HMWO.L	LSEG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	-0.56	+3.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.22	+0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.57	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.50	+0.22

Drawdowns

HMWO.L vs. LSEG.L - Drawdown Comparison

The maximum HMWO.L drawdown since its inception was -25.48%, smaller than the maximum LSEG.L drawdown of -80.59%. Use the drawdown chart below to compare losses from any high point for HMWO.L and LSEG.L.

Drawdown Indicators

	HMWO.L	LSEG.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.48%	-80.59%	+55.11%
Max Drawdown (1Y) Largest decline over 1 year	-6.71%	-36.72%	+30.01%
Max Drawdown (3Y) Largest decline over 3 years	-19.01%	-39.94%	+20.93%
Max Drawdown (5Y) Largest decline over 5 years	-19.01%	-39.94%	+20.93%
Max Drawdown (10Y) Largest decline over 10 years	-25.48%	-39.94%	+14.46%
Current Drawdown Current decline from peak	-0.13%	-22.39%	+22.26%
Average Drawdown Average peak-to-trough decline	-4.07%	-19.48%	+15.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	20.67%	-18.96%

Volatility

HMWO.L vs. LSEG.L - Volatility Comparison

The current volatility for HSBC MSCI World UCITS ETF (HMWO.L) is 2.54%, while London Stock Exchange Group plc (LSEG.L) has a volatility of 9.82%. This indicates that HMWO.L experiences smaller price fluctuations and is considered to be less risky than LSEG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HMWO.L	LSEG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	9.82%	-7.28%
Volatility (6M) Calculated over the trailing 6-month period	7.34%	25.02%	-17.68%
Volatility (1Y) Calculated over the trailing 1-year period	10.26%	31.71%	-21.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.28%	23.84%	-10.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.47%	25.56%	-11.09%

Dividends

HMWO.L vs. LSEG.L - Dividend Comparison

HMWO.L's dividend yield for the trailing twelve months is around 0.01%, less than LSEG.L's 1.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
LSEG.L London Stock Exchange Group plc	1.64%	1.52%	1.07%	1.20%	1.43%	1.11%	0.81%	0.82%	1.34%	1.20%	1.28%	0.86%

Frequently Asked Questions

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

HMWO.L and LSEG.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.