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HMXJ.L vs. HMWD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HMXJ.L vs. HMWD.L

Last updated Jun 5, 2026

HMXJ.L (HSBC MSCI Pacific ex Japan UCITS ETF) and HMWD.L (HSBC MSCI World UCITS ETF) are both exchange-traded funds - HMXJ.L is a Asia Pacific Equities fund tracking the MSCI Pacific Ex Japan NR USD, while HMWD.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, HMXJ.L returned 8.45%/yr vs 14.09%/yr for HMWD.L. A 0.65 correlation means they provide meaningful diversification when combined. HMXJ.L charges 0.40%/yr vs 0.15%/yr for HMWD.L.

Performance

HMXJ.L vs. HMWD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI Pacific ex Japan UCITS ETF (HMXJ.L) and HSBC MSCI World UCITS ETF (HMWD.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HMXJ.L is traded in GBp, while HMWD.L is traded in USD. To make them comparable, the HMWD.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, HMXJ.L achieves a 8.91% return, which is significantly lower than HMWD.L's 10.33% return. Over the past 10 years, HMXJ.L has underperformed HMWD.L with an annualized return of 8.45%, while HMWD.L has yielded a comparatively higher 14.09% annualized return.

HMXJ.L

1D
-0.47%
1M
0.55%
YTD
8.91%
6M
9.65%
1Y
17.57%
3Y*
10.62%
5Y*
6.07%
10Y*
8.45%

HMWD.L

1D
0.09%
1M
5.07%
YTD
10.33%
6M
10.30%
1Y
27.37%
3Y*
17.84%
5Y*
13.14%
10Y*
14.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
HMXJ.L
HSBC MSCI Pacific ex Japan UCITS ETF		8.91%12.37%6.43%0.38%5.35%5.41%3.21%13.89%-5.45%14.45%
HMWD.L
HSBC MSCI World UCITS ETF		10.33%12.43%21.21%18.40%-8.52%23.57%13.01%22.58%-3.49%12.48%

Correlation

The correlation between HMXJ.L and HMWD.L is 0.57, 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

0.57

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

0.60

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

0.65

Correlation (10Y)
Calculated over the trailing 10-year period

0.68

Correlation (All Time)
Calculated using the full available price history since Dec 13, 2010

0.65

The correlation between HMXJ.L and HMWD.L shifts across timeframes, from 0.57 (1 year) to 0.68 (10 years), reflecting how their relationship changes across market environments.

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

Sectors
HMXJ.L
HMWD.L

Financial Services

45.1%
15.7%

Basic Materials

16.1%
3.3%

Industrials

8.5%
11.5%

Real Estate

7.8%
1.9%

Consumer Cyclical

6.3%
9.2%

Utilities

3.5%
2.7%

Healthcare

3.3%
8.8%

Consumer Defensive

3.0%
5.3%

Energy

2.7%
4.2%

Communication Services

2.6%
9.2%

Technology

1.0%
28.3%

Financial Services

HMXJ.L
45.1%
HMWD.L
15.7%

Basic Materials

HMXJ.L
16.1%
HMWD.L
3.3%

Industrials

HMXJ.L
8.5%
HMWD.L
11.5%

Real Estate

HMXJ.L
7.8%
HMWD.L
1.9%

Consumer Cyclical

HMXJ.L
6.3%
HMWD.L
9.2%

Utilities

HMXJ.L
3.5%
HMWD.L
2.7%

Healthcare

HMXJ.L
3.3%
HMWD.L
8.8%

Consumer Defensive

HMXJ.L
3.0%
HMWD.L
5.3%

Energy

HMXJ.L
2.7%
HMWD.L
4.2%

Communication Services

HMXJ.L
2.6%
HMWD.L
9.2%

Technology

HMXJ.L
1.0%
HMWD.L
28.3%

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HSBC MSCI Pacific ex Japan UCITS ETF

HSBC MSCI World UCITS ETF

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Often compared with HMWD.L:
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Return for Risk

HMXJ.L vs. HMWD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HMXJ.L
HMXJ.L Risk / Return Rank: 4848
Overall Rank
HMXJ.L Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
HMXJ.L Sortino Ratio Rank: 5050
Sortino Ratio Rank
HMXJ.L Omega Ratio Rank: 4646
Omega Ratio Rank
HMXJ.L Calmar Ratio Rank: 5151
Calmar Ratio Rank
HMXJ.L Martin Ratio Rank: 4646
Martin Ratio Rank
HMWD.L
HMWD.L Risk / Return Rank: 6969
Overall Rank
HMWD.L Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
HMWD.L Sortino Ratio Rank: 7474
Sortino Ratio Rank
HMWD.L Omega Ratio Rank: 6868
Omega Ratio Rank
HMWD.L Calmar Ratio Rank: 6464
Calmar Ratio Rank
HMWD.L Martin Ratio Rank: 7272
Martin Ratio Rank
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.

HMXJ.L vs. HMWD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Pacific ex Japan UCITS ETF (HMXJ.L) and HSBC MSCI World UCITS ETF (HMWD.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.

HMXJ.LHMWD.LDifference
Sharpe ratioReturn per unit of total volatility
1.61
2.34

-0.74

Sortino ratioReturn per unit of downside risk
2.40
3.23

-0.83

Omega ratioGain probability vs. loss probability

1.29

1.44

-0.15

Calmar ratioReturn relative to maximum drawdown

2.46

4.21

-1.76

Martin ratioReturn relative to average drawdown

7.37

15.84

-8.47

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HMXJ.L vs. HMWD.L - Sharpe Ratio Comparison

The current HMXJ.L Sharpe Ratio is 1.61, which is lower than the HMWD.L Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of HMXJ.L and HMWD.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.

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Sharpe Ratios by Period

HMXJ.LHMWD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.61

2.34

-0.74

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.44

0.91

-0.47

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.91

-0.36

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

0.83

-0.41

Drawdowns

HMXJ.L vs. HMWD.L - Drawdown Comparison

The maximum HMXJ.L drawdown since its inception was -32.30%, which is greater than HMWD.L's maximum drawdown of -26.10%. Use the drawdown chart below to compare losses from any high point for HMXJ.L and HMWD.L.

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Drawdown Indicators

HMXJ.LHMWD.LDifference

Max Drawdown

Largest peak-to-trough decline

-32.30%

-26.10%

-6.20%

Max Drawdown (1Y)

Largest decline over 1 year

-7.12%

-6.47%

-0.65%

Max Drawdown (3Y)

Largest decline over 3 years

-17.47%

-18.90%

+1.43%

Max Drawdown (5Y)

Largest decline over 5 years

-17.65%

-18.90%

+1.25%

Max Drawdown (10Y)

Largest decline over 10 years

-32.30%

-26.10%

-6.20%

Current Drawdown

Current decline from peak

-2.76%

-0.05%

-2.71%

Average Drawdown

Average peak-to-trough decline

-6.74%

-3.49%

-3.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.38%

1.72%

+0.66%

Volatility

HMXJ.L vs. HMWD.L - Volatility Comparison

HSBC MSCI Pacific ex Japan UCITS ETF (HMXJ.L) and HSBC MSCI World UCITS ETF (HMWD.L) have volatilities of 3.58% and 3.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HMXJ.LHMWD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.58%

3.47%

+0.11%

Volatility (6M)

Calculated over the trailing 6-month period

8.32%

8.87%

-0.55%

Volatility (1Y)

Calculated over the trailing 1-year period

10.89%

11.62%

-0.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.80%

14.41%

-0.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.12%

15.49%

+0.63%

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

HMXJ.L has a 0.40% expense ratio, which is higher than HMWD.L's 0.15% expense ratio.

Dividends

HMXJ.L vs. HMWD.L - Dividend Comparison

HMXJ.L's dividend yield for the trailing twelve months is around 3.02%, more than HMWD.L's 1.17% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
HMXJ.L
HSBC MSCI Pacific ex Japan UCITS ETF		3.02%3.43%3.80%4.13%3.79%2.71%3.05%3.88%3.80%3.23%3.32%4.03%

Frequently Asked Questions

HMXJ.L and HMWD.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

HMWD.L is cheaper with a 0.15% expense ratio, compared with 0.40% for HMXJ.L.

HMXJ.L is categorized as Asia Pacific Equities, while HMWD.L is Global Equities. HMXJ.L tracks MSCI Pacific Ex Japan NR USD, while HMWD.L tracks MSCI ACWI NR USD. Their fees differ too: 0.40% for HMXJ.L and 0.15% for HMWD.L.

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