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HMWO.L vs. MWRD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HMWO.L vs. MWRD.L

Last updated Jun 5, 2026

HMWO.L (HSBC MSCI World UCITS ETF) and MWRD.L (Amundi Index MSCI World) are both Global Equities funds tracking the MSCI ACWI NR USD, from HSBC and Amundi respectively. Both are passively managed. Their correlation of 0.83 suggests significant overlap in exposure. HMWO.L charges 0.15%/yr vs 0.08%/yr for MWRD.L.

Performance

HMWO.L vs. MWRD.L - Performance Comparison

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

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Returns By Period

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%

MWRD.L

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%5.76%
MWRD.L
Amundi Index MSCI World		0.00%0.00%-1.27%17.50%-9.18%24.39%11.85%23.29%-4.10%6.52%

Correlation

The correlation between HMWO.L and MWRD.L is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.38

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

0.69

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2017

0.83

The correlation between HMWO.L and MWRD.L shifts across timeframes, from 0.38 (3 years) to 0.83 (all time), reflecting how their relationship changes across market environments.

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

Sectors
HMWO.L
MWRD.L

Technology

30.2%
24.7%

Financial Services

15.4%
14.7%

Industrials

11.0%
10.6%

Communication Services

9.1%
7.5%

Consumer Cyclical

9.0%
10.5%

Healthcare

8.6%
12.4%

Consumer Defensive

5.2%
6.7%

Energy

4.1%
4.4%

Basic Materials

3.2%
3.8%

Utilities

2.5%
2.4%

Real Estate

1.8%
2.4%

Technology

HMWO.L
30.2%
MWRD.L
24.7%

Financial Services

HMWO.L
15.4%
MWRD.L
14.7%

Industrials

HMWO.L
11.0%
MWRD.L
10.6%

Communication Services

HMWO.L
9.1%
MWRD.L
7.5%

Consumer Cyclical

HMWO.L
9.0%
MWRD.L
10.5%

Healthcare

HMWO.L
8.6%
MWRD.L
12.4%

Consumer Defensive

HMWO.L
5.2%
MWRD.L
6.7%

Energy

HMWO.L
4.1%
MWRD.L
4.4%

Basic Materials

HMWO.L
3.2%
MWRD.L
3.8%

Utilities

HMWO.L
2.5%
MWRD.L
2.4%

Real Estate

HMWO.L
1.8%
MWRD.L
2.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

HSBC MSCI World UCITS ETF

Amundi Index MSCI World

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Often compared with MWRD.L:
MWRD.L vs. BRK-BMWRD.L vs. IWDA.ASMWRD.L vs. URTHMWRD.L vs. SWDA.LMWRD.L vs. JEPIMWRD.L vs. ACWIMWRD.L vs. 36BZ.DE

Return for Risk

HMWO.L vs. MWRD.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: 7878
Overall Rank
HMWO.L Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
HMWO.L Sortino Ratio Rank: 7878
Sortino Ratio Rank
HMWO.L Omega Ratio Rank: 8080
Omega Ratio Rank
HMWO.L Calmar Ratio Rank: 7777
Calmar Ratio Rank
HMWO.L Martin Ratio Rank: 7878
Martin Ratio Rank
MWRD.L
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. MWRD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI World UCITS ETF (HMWO.L) and Amundi Index MSCI World (MWRD.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.LMWRD.LDifference
Sharpe ratioReturn per unit of total volatility
2.50

—

—

Sortino ratioReturn per unit of downside risk
3.44

—

—

Omega ratioGain probability vs. loss probability

1.47

—

—

Calmar ratioReturn relative to maximum drawdown

3.82

—

—

Martin ratioReturn relative to average drawdown

15.06

—

—

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. MWRD.L - Sharpe Ratio Comparison

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Sharpe Ratios by Period

HMWO.LMWRD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.50

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.86

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.84

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.72

—

—

Drawdowns

HMWO.L vs. MWRD.L - Drawdown Comparison

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Drawdown Indicators

HMWO.LMWRD.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.48%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-6.71%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-19.01%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-19.01%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-25.48%

—

—

Current Drawdown

Current decline from peak

-0.13%

—

—

Average Drawdown

Average peak-to-trough decline

-4.07%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.71%

—

—

Volatility

HMWO.L vs. MWRD.L - Volatility Comparison

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Volatility by Period

HMWO.LMWRD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.54%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

7.34%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

10.26%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.28%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.47%

—

—

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

HMWO.L has a 0.15% expense ratio, which is higher than MWRD.L's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HMWO.L vs. MWRD.L - Dividend Comparison

HMWO.L's dividend yield for the trailing twelve months is around 0.01%, while MWRD.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
MWRD.L
Amundi Index MSCI World		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

HMWO.L and MWRD.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, MWRD.L is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MWRD.L is cheaper with a 0.08% expense ratio, compared with 0.15% for HMWO.L.

Both ETFs track MSCI ACWI NR USD. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.15% for HMWO.L and 0.08% for MWRD.L.

Portfolio Optimizer

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